ECONOMY

Shipping Report

TANKERS Increased demand for Suezmaxes in the Med. and West Africa, with 135,000-ton and 130,000-ton cargo liftings at W/S 135 and 130, respectively. – VLCCs are still being fixed at around W/S 110 with destinations East out of the Arabian Gulf, while Exxonmobil for 275,000 tons of cargo, loading Arabian Gulf, June 11, has fixed M/T «Starlight Jewel» with delivery US Gulf at W/S 85. – Aframaxes in the Med. are at steady levels at W/S 180, while the Continent is around W/S 140 due to less supply of tonnage. – In the same area Eni has fixed M/T «Tropic Brilliance,» loading Sture, discharging Italy at W/S 115. – In West Africa, Repsol has fixed M/T «Spetses» for 130,000 tons with destination Spain at W/S 127.5. – Caribs on Aframaxes seem busier, with the 70,000-ton cargo liftings being fixed at W/S 132.5. – In the Arabian Gulf, Reliance has fixed M/T «Ubud» for 260,000 tons of cargo, loading June 5, discharging India at W/S 150. – In the Med., Sinochem has fixed M/T «Eagle Corona» for 80,000 tons of cargo, loading May 25 Syria, discharging UKCM at W/S 182.5, while Saras has fixed M/T «Astro Arcturus» for the same size cargo on May 16, Zuetina, discharging Sarr at W/S 170. DRY CARGO Capesize freight rates are still climbing in the Atlantic. Asian rates remain strong with M/V «Thalassini Axia,» 164,796 dwt, built 1996, being fixed for delivery Japan June 15-17 for round-trip voyage at 30,750 USD daily. – Panamax rates in the Atlantic appear steady. Asian market remains strong with period interest still evident and strong rates agreed upon. – Sinochart has fixed M/V «Great Intelligence,» built 2000, delivery Shanghai May 20-25 for 11/13-month trading, redelivery worldwide at 14,000 USD daily. – Handymax rates remain strong for US Gulf and Brazil loaders. – On Capers, Glory Wealth has fixed M/V «Alpha Cosmos,» built 2001, 169,770 dwt, delivery Bayuquan May 17-19 via West Australia, redelivery China at 30,500 USD daily. – Stemcor on Panamaxes has fixed M/V «Claret,» Dreyfus Relet in 1996, 71,393 dwt, delivery Brazil, redelivery Singapore/Japan at 23,000 USD daily and 500,000 ballast bonus.