ECONOMY

Shipping Report

TANKERS Steady conditions in the Med. with modern Aframaxes at W/S 180, while the Cont. remains quiet. – Suezmax market appears more active out of W. Africa, with Sun having fixed M/T «Pentathlon» for 130,000 tons of cargo, loading May 30, discharging USAC at W/S 125, while Petrogal for same cargo quantity, loading May 30, discharging Portugal, has fixed M/T «Sandra Tapias» at W/S 120. – Japanese also loading Gamba, discharging Japan, have on subs M/T «Front Fighter» at W/S 142.5. – Caribs market further weakening, with 70,000-ton cargo liftings at W/S 120. Koch has fixed M/T «Eurydice,» loading May 19, discharging US Gulf, at the above-mentioned levels. – In the Med., Erg for 80,000 tons of cargo, loading May 14 Libya, discharging Italy, has fixed M/T «Scorpius» at W/S 180. – In the Cont., CSSA for 80,000 tons of cargo, loading May 29 Germany, discharging US Gulf, has fixed OSG tonnage at W/S 160. – In Caribs, Stasco for 70,000 tons of cargo, loading May 20 East Coast Mexico, discharging US Gulf, has fixed M/T «Corcovado» at W/S 127.5. DRY CARGO Solid rates for Capesizes with good demand also for T/C periods. – In the Atlantic, Cosbulk has fixed M/V «An Angel Legend,» 161,000 dwt, built 1996, delivery Atlantic for 2 years’ trading at USD 18,500 daily, while in the East, Sinochart has fixed M/V «Nordtramp,» 171,199 dwt, built 2001, delivery China for 12 months’ trading at USD 20,750 daily. – Panamax rates remain firm, with increased interest from Japanese charterers in the East, while the demand for T/C periods still exists. Cosbulk Navios Galaxy. – In the Atlantic, rates remain steady, with large modern types earning USD 20,000 daily with destinations East. – On Panamaxes in Far East, Mol Navix has fixed M/V «Emerald Stream,» 76,350 dwt, built 2003, delivery / redelivery Japan via Indonesia at USD 15,500 daily. – In the Atlantic, Bunge has fixed M/V «Crescendo,» 74,366 dwt, built 2000, delivery May 9-11 Mexico via East Coast S. America, redelivery Far East at USD 20,500 daily.