ECONOMY

Shipping Report

TANKERS Despite the lack of activity in the North Sea, Aframax rates remain stable due to a number of Baltic liftings. The 80s cargoes in the area are still at W/S 160. Vitol for 100,000 tons of cargo, loading June 12, discharging UKC, has fixed M/T «Spirit Prospect» at W/S 145. – The Med. seems quieter with the most of the cargoes out of the Black Sea having been fixed, or on subs. rates out of Black Sea around W/S 195, with Lukoil having fixed M/T «Barents Sea» for 80,000 tons of cargo, loading June 14-15, discharging Med. at W/S 192.5. – The Caribs market is picking up, with 70,000 tons of cargo liftings at FM W/S 175 having moved up to W/S 215. Stasco has fixed M/T «SKS Tiete» loading June 8 East Coast Mexico, discharging US Gulf at above said levels. – Stable rates for Suezmaxes in all areas. In the Med., 140,000 tons of cargo out of Black Sea are fixed at W/S 185 while the 130s out of West Africa are at W/S 150. – In the Med., Tamoil, for 130,000 tons of cargo, loading June 10 Libya, discharging Med., has fixed M/T «Iran Sanandaj» at W/S 197.5. – On the Cont, Gunvor, for 80,000 tons of cargo loading June 7 Baltic, discharging UKC, has fixed M/T «Olympic Spirit II» at W/S 180. – In Caribs, Chevtex, for 70,000 tons of cargo, loading June 9 East Coast Mexico, discharging USAC has fixed M/T «Nordocean» at W/S 175. – In West Africa, Sun, for 130,000 tons of cargo loading June 22, discharging USAC, has fixed M/T «Poetic» at W/S 150. DRY CARGO There are weaker conditions for all sizes with indices continuing their downward trend. – On ore cargoes, Posco has fixed Pan Ocean tonnage for 150-190,000 tons of cargo, loading end of June or beginning of July South Africa, discharging China, at USD 12.50 per ton with two days’ load and 55,000 tons’ discharge, while CSC has fixed M/V «Sanko Oasis» for 130,000 tons of cargo, loading June 10-20 Brazil, discharging Taiwan, at USD 17.25 per ton with 40,000 tons’ load and 38,000 tons’ discharge. – On Panamax in Far East, ETA has fixed M/V «Bandai,» 70,500 dwt, built 1998, delivery China beginning of June for two legs, redelivery far East at USD 15,750 daily. – In Atlantic, Pan Ocean has fixed M/V «Banasol» 72,200 dwt, built 2001, delivery US Gulf June 10-15, redelivery Far East at USD 16,000 daily and USD 250,000 ballast bonus. – On smaller sizes, IVS has fixed M/V «Thalassini» 24,500 dwt, built 1981, delivery June 1-10 South Africa, redelivery UKC at USD 9,600 daily.