ECONOMY

Shipping Report

TANKERS Quiet conditions persist in the Med., especially for Aframaxes, with the 80,000-ton cargoes having been fixed at W/S 140-145. – Suezmaxes are more active in the area due to Black Sea cargoes, which are fixed at W/S 120. – Cont. is quiet with inadequate inquiry, while Caribs seems quieter with the 70,000-ton cargo liftings having been fixed at W/S 175. – Suezmaxes in W. Africa are at higher numbers, with Sun having fixed M/T «Astro Canopus» for 130,000 tons of cargo, loading May 15, discharging USAC, at W/S 130. – VLCCs out of the same area are at W/S 87.5 with destination US Gulf and W/S 85 with destination East. Tonnage is thinning out for May and rates are expected to stay firm. – Exxonmobil has fixed M/T «Atlantic Prosperity» for 260,000 tons of cargo, loading May 17, discharging US Gulf, at W/S 87.5. – Out of Arabian Gulf, Chevtex has fixed M/T «Front Falcon» for 270,000 tons of cargo, loading May 6, discharging Far East, at W/S 105. – In the Med. and on Aframax, Addax has fixed M/T «Aegean Legend» for 80,000 tons of cargo, loading April 28 Black Sea, discharging Med., at W/S 152.5. – In Caribs, Valero for 70,000 tons of cargo, loading April 29 East Coast Mexico, discharging US Gulf, has fixed M/T «Chemtrans Lyra» at W/S 165. DRY CARGO Quieter conditions for the Capesizes, with very limited number of cargoes and fixtures. – Glory Wealth has fixed M/V «Gran Trader,» 172,529 dwt, built 2001, for 4-6 months’ trading at USD 74,500 daily. – Similar conditions for Panamaxes too. Rates have dropped to below USD 30,000 daily for quality tonnage in the East for round-trip voyages, but it remains unclear how much further rates will fall. – In the Atlantic rates are holding steady, but there is an uncertainty for some owners and operators to fix for short trips covering the coming holiday period, or to cover for longer voyages anticipating weaker freight rates. – S. Korean charterers have fixed M/V «Bandai,» 70,521 dwt, built 1998, delivery Philippines April 20-25, trip via China, at USD 30,000 daily. – In the Atlantic, Bunge has fixed M/V «Paiute,» 70,293 dwt, built 1995, delivery end April Brazil, redelivery UKC-Med., at USD 40,000 daily and USD 600,000 ballast bonus.