ECONOMY

Shipping Report

TANKERS The quiet conditions persist for Aframaxes in the Med., Cont. as well as Caribs. – In the Med., the 80,000-ton cargo liftings are being fixed at less than W/S 140. Petrogal has fixed M/T «Stavanger Bay,» loading May 3 Algeria, discharging Portugal, at W/S 132.5. – In the N. Sea, Conoco has fixed M/T «Minerva Iris» for 80,000 tons of cargo, loading April 26 N. Sea, discharging UKC, at W/S 140, while Clearlake for 100,000 tons of cargo, loading May 6 Baltic, discharging UKC, has fixed M/T «Minerva Helen» at same levels. – In Caribs, the latest fixtures for 70,000-ton cargo liftings have been hovering around W/S 155. – On Suezmaxes, W. Africa has moved upward, reaching W/S 145-150 for US Gulf and Cont./Med. destinations, while in the Med., rates have been improved for cross cargoes at W/S 125. – In W. Africa, Exxonmobil has fixed M/T «Sks Saluda» for 130,000 tons of cargo, loading May 11, discharging US Gulf, at W/S 145 while CSSA for same cargo, loading May 14, discharging Med., has fixed M/T «Genmar Hope» at W/S 150. – In the Med., Exxonmobil for 135,000 tons of cargo, loading May 3 Egypt, discharging Italy, has fixed M/T «Nordic Hunter» at W/S 125. – VLCC rates out of W. Africa have spiked, with W/S 105 being paid for US Gulf – East Coast rates at W/S 90. – Conoco has fixed M/T «Crude Star» for 260,000 tons of cargo, loading May 17, discharging US Gulf, at W/S 105. – In Arabian Gulf, Shell for 278,000 tons of cargo, loading May 16, discharging US Gulf – Far East, has fixed M/T «Astro Challenge» at W/S 87.5 – W/S 110, respectively. DRY CARGO The volume of fixing remains thin, not only on Capers but on Panamaxes too. – Cargill in the East has fixed M/V «Rubin Phoenix,» 171,080 dwt, built 1997, delivery Korea, trip via S. Africa, redelivery UKC, at USD 45,000 daily, while Sinochart has fixed M/V «Atalanta,» 149,495 dwt, built 1990, delivery / redelivery China, for an Australian round-trip at USD 50,000 daily. – Panamax rates have dropped in all areas and though this was expected in the east, in the Atlantic it was more than a surprise. – There are enough new cargoes and some loading areas remain tight in tonnage. – In Atlantic, Atlas has fixed M/V «Alvina,» 73,624 dwt, built 2004, delivery Rotterdam April 26-29, trip via Murmansk, redelivery UK, at USD 37,000 daily. – In Far East, Armada has fixed M/V «Renuar,» 70,000 dwt, built 1993, delivery April 20-26 Japan, trip via East Coast Australia, redelivery Passero, at USD 29,000 daily.