ECONOMY

Shipping Report

TANKERS The Arabian Gulf area remains active with many VLCC fixtures, mostly with destinations East. Rates have improved, with Idemitsu fixing M/T «Falkonera» for 260,000 tons of cargo, loading May 31, discharging Japan, at W/S 70, while Rillfung for same cargo, loading June 10, discharging China, has fixed M/T «Astro Carina» at W/S 65. – The Med. market is steady for Aframaxes, with Karran having fixed M/T «Athina M» for 80,000 tons of cargo, loading May 15 Black Sea, discharging Med. at W/S 195, although inquiry for Suezmaxes appears weaker. – Petrogal has fixed M/T «Donat» for 130,000 tons of cargo, loading May 25 Libya, discharging Portugal at W/S 110. – Cont. with marginal fresh inquiry, while Caribs seem stable at W/S 130-135 for 70,000-ton cargo liftings. – Weaker conditions for Suezmaxes out of W. Africa, with Addax having fixed M/T «Butron» for 130,000 tons of cargo, loading May 25, discharging US Gulf at W/S 95. – In the Med., Petrogal has fixed M/T «Histria Emerald» for 80,000 tons of cargo, loading May 21 Libya, discharging USAC at W/S 160. – In the Cont., Vitol has fixed M/T «Bering Sea» for 80,000 tons of cargo, loading May 25, discharging USAC at W/S 160. – In Caribs, Stasco for 70,000 tons of cargo, loading May 14, discharging Martinique, has fixed M/T «Aegean Freedom» at W/S 205. – In W. Africa, Sun has fixed M/T «Genmar Harriet» for 130,000 tons of cargo, loading May 28, discharging USAC at W/S 95. DRY CARGO Market remains firm with good demand and fresh inquiry for Capers. – Freight rates high with Mol Navix having fixed M/V «Formosa Bulk Brave,» 170,108 dwt, built 2001, delivery Spain, May 28-31 trip via Brazil, redelivery UKC at USD 31,750 daily. – Good demand also for Panamaxes, especially for short T/C periods in Far East. Bunge has fixed M/V «Pearl of Jebel Ali,» 75,157 dwt, built 2002, delivery Japan beg. May for 5-7 month period at USD 15,600 daily, while Armada has fixed M/V «Edfu,» 71,572 dwt, built 1997, delivery May 15-16 Korea for 3-5 month period at USD 16,000 daily. – In the Atlantic, North China Lines has fixed M/V «Filippo Lembo,» 75,229 dwt, built 1997, delivery Bourgas May 25-30 for 11-13 month period at USD 13,250 daily. – On smaller sizes, Consensus has fixed M/V «Fiora Topic,» 37,179 dwt, built 1984, delivery Rotterdam mid-May, redelivery Med. at USD 13,500 daily.