ECONOMY

Shipping Report

TANKERS Weaker conditions for VLCCs out of Arabian Gulf with minimum inquiry. Last week’s levels of W/S 110-115 are now around W/S 85. – Petron has fixed M/T «Astro Libra» for 260,000 tons of cargo loading June 10, discharging Philippines at W/S 88. – Suezmax rates at present stable with Stasco out of W. Africa having fixed M/T «Astro Capella» for 130,000 tons of cargo loading June 8 Nigeria, discharging US Gulf-UKC/Med. at W/S 120, while Emerald has fixed M/T «Genmar Macedon» for same cargo loading June 11, discharging USAC at same level. – Aframaxes in the Med. at W/S 180, while Cont. is at W/S 160 in spite of the low activity. – Caribs with 6-7 fixtures at W/S levels 175-185. – In the Med., Karran for 80,000 tons of cargo loading end May Black Sea, discharging Med., has fixed M/T «Atalandi» at W/S 192.5. – In the Cont., Exxonmobil has fixed M/T «Genmar Star» for 84,000 tons of cargo loading May 26 Norway, discharging W. Med. at W/S 150. – In Caribs, Marathon has fixed M/T «Nordocean» for 70,000 tons of cargo loading May 28, discharging US Gulf at W/S 177.5. – In W. Africa Petrogal for 130,000 tons of cargo loading June 6, discharging Portugal, has fixed M/T «Tribute» at W/S 127.5. DRY CARGO A fairly quiet day with limited inquiry for Panamax cargoes in the Atlantic. – There are still several ships in ballast with downward pressure evident on these early vessels. – In the East the market remains firm, with round voyages climbing to as much as USD 18,500 daily. – Capers stable, with good demand in both areas. M/V «Gran Trader,» 172,500 dwt, built 2001, delivery UKC end May-beg. June, trip via Brazil, redelivery Far East, was fixed at USD 39,500 daily. – On T/C periods, Kline has fixed M/V «Arethousa,» 171,779 dwt, built 1999, delivery beg. August for two years’ trading at USD 19,700 daily. – On Panamax in Far East, Cosco has fixed M/V «Angelic Glory,» 75,007 dwt, built 2002, delivery Hong Kong May 24-25 for 5-7 months’ trading at USD 15,200 daily. – In the Atlantic, Bunge has fixed M/V «Great Glory,» 73,251 dwt, built 1997, delivery Brazil June 1-3, redelivery Far East at USD 19,500 daily and USD 450,000 ballast bonus.