ECONOMY

Shipping Report

TANKERS VLCC rates are gradually picking up with Hyundai having fixed M/T «Siam» for 270,000 tons of cargo, loading June 20, discharging S. Korea at W/S 80. – Suezmaxes steady in the Med., with rates out of Black Sea above W/S 185 and normal cross trips around W/S 150. – W. Africa is also holding at similar levels. The 130,000-ton cargoes, irrespective of destination, are being fixed around W/S 150. – In the Med., Sibneft for 135,000 tons of cargo, loading June 10 Novorossisk, discharging UKC/Med., has fixed M/T «Georgios S» at W/S 185. – In the Cont., Exxonmobil for 135,000 tons of cargo, loading June 11 Norway, discharging Med., has fixed M/T «Donat» at W/S 127.5. – In W. Africa, Sun has fixed M/T «Poetic» for 130,000 tons of cargo, loading June 22, discharging USAC at W/S 150. – In Arabian Gulf, SK has fixed M/T «Sunlight Jewel» for 270,000 tons of cargo, loading June 7, discharging S. Korea at W/S 75. DRY CARGO Market unchanged with latest fixtures as follows: – On Panamaxes in the Far East, NYK has fixed M/V «Maritime King,» 73,350 dwt, built 1994, delivery end May Taiwan, redelivery Japan at USD 19,900 daily. – In the Atlantic, Pan Ocean has fixed M/V «Banasol,» 72,700 dwt, built 2001, delivery June 10-20 US Gulf, redelivery Far East at USD 16,000 daily and USD 250,000 ballast bonus. – On smaller sizes, Dooyang has fixed M/V «Ocean Galaxy,» 46,663 dwt, built 1997, delivery US Gulf June 1-10, redelivery Far East at USD 24,000 daily. – On coal cargoes, Sidmar for 72,000 tons of cargo, loading June 2-12 USAC, discharging Belgium, has fixed USD 9.20 per ton with 5 days all purposes.