ECONOMY

Shipping Report

TANKERS A quiet start to the week, with Aframaxes in the Med. having been fixed at W/S 130-135 and similar levels prevailing in the N. Sea too. – Caribs shows a number of cargoes, but rates for the 70,000-ton cargo liftings are hovering around W/S 145-155. – Suezmax rates in the Med. have moved up to W/S 135 for cross-Med. cargoes. Tonnage is thin and there is expected improvement on rates after the next round of Black Sea cargoes. – W. Africa has little activity, rates at W/S 150 for the 130,000-ton cargoes with destination USAC. – VLCCs out of the same area above W/S 100 with destination US Gulf and W/S 90 with destination East. – In the Med. and on Aframaxes, Janorc has fixed M/T «Seafaith II» for 80,000 tons of cargo, loading mid-May Black Sea, discharging Med., at W/S 160. – In the Cont. and on 100,000-ton cargoes, Mercuria has fixed M/T «Rita Knutsen,» loading May 3, discharging UKC, at W/S 140. – In Caribs, BP has fixed M/T «Aegean Freedom» for 70,000 tons of cargo, loading April 24 East Coast Mexico, discharging US Gulf, at W/S 150. – In W. Africa, Stasco has fixed Alliance tonnage for 130,000 tons of cargo, loading May 15, discharging US Gulf, at W/S 150. – In Arabian Gulf, Conoco has fixed M/T «Front Century» for 280,000 tons of cargo loading May 18, discharging US Gulf – USWC, at W/S 90 – W/S 105 respectively. DRY CARGO A thin day’s trading for Capers in all areas. – In the East, M/V «Anangel Solidarity» was fixed by North China for an Australian round-trip at USD 61,000 daily. – On Panamaxes, rates are very much weaker in the Atlantic and the Far East. Their Biffex last Friday moved downward by 213 points, totaling to 3,824. – In the East, due to upcoming Golden Week and May Day holidays, owners are willing and fixing at discounted levels. – An lme Open Hirohata (Japan) for Nopac round was fixed at USD 21,000 daily. – In the Atlantic, sentiment has driven the market to lower rates with lme types with destination East having been fixed at USD 40,000 daily, while the round-trip voyages are fixed at USD 35-37,000 daily. – Nasl has fixed M/V «Zagora,» 73,435 dwt, built 2001, delivery end-April Belgium, trip via East Coast S. America, redelivery Far East, at USD 40,000 daily. – In the Far East, PCL has fixed M/V «Alpha Flame,» 74,545 dwt, built 1999, delivery Korea April 23-25, for 2 legs at USD 28,000 daily. – On smaller sizes, Korea Line has fixed M/V «Syriotissa,» 45,470 dwt, built 1986, delivery Thailand end-April, for 4-6 months’ trading at USD 23,500 daily.