ECONOMY

Shipping Report

TANKERS Weaker conditions on VLCCs, with latest fixtures out of Arabian Gulf with destination East around W/S 70. – Suezmaxes out of W. Africa are expected to be affected by the VLCCs availability in the area. Recent reports are already talking for more than 4 VLCCs fixtures with destination either United States or India. – Aframaxes in the Med. are in good demand, with rates hovering from W/S 195 to W/S 205 due to increased activity out of Black Sea. – In the Cont., rates are stable, with good demand for transatlantic voyages. Exxonmobil has fixed M/T «Regent» for 80,000 tons of cargo loading June 10 discharging US Gulf at W/S 175. – Caribs is busier, with the 70,000 tons cargo liftings been fixed at W/S 240. Valero has fixed M/T «Mersey Spirit» for 70,000 tons of cargo loading June 9 East Coast Mexico discharging US Gulf at above-said levels. – In the Med., NOC has fixed M/T «Zoras» for 80,000 tons of cargo loading June 8 Libya, discharging Italy, at W/S 160. – In Caribs, Lyondell for 70,000 tons of cargo loading June 8 discharging US Gulf, has fixed Genmar tonnage at W/S 215. – In W. Africa, Exxonmobil for 130,000 tons of cargo loading June 25 discharging Med., has fixed M/T «Cap Jean» at W/S 142.5. – In the Arabian Gulf, Idemitsu for 255,000 tons of cargo loading June 21 discharging Japan, has fixed M/T «Mitsumine» at W/S 95. DRY CARGO Freight rates continue to be talked lower. – Similarly, all indexes are moving downward, with Biffex index having lost 11 points, BCI 22 points and Panamaxes index 7 points. – In the East, some Panamax owners have agreed to lower rates, although others are still commanding reasonable levels. – On Handies, rates in the East are easier, with charterers pushing further, eliminating their cargoes from the scene. – On Panamax in Far East, Nyk has fixed M/V «Luigi d’Amato» 75,300 dwt, built 1996, delivery China June 2-4 trip via Kalimantan redelivery Japan, at USD 17,000 daily. – In Atlantic, Conagra has fixed M/V «Rialto» 70,316 dwt, built 1996, delivery France beg. June trip via East Coast S. America redelivery Far East, at USD 17,00 daily. – On smaller sizes, MCL has fixed M/V «Grand Orchid» 45,513 dwt, built 1996, delivery S. Africa 10-20 June redelivery US Gulf, at USD 12,000 daily. – On ore cargoes, Beitai Steel has fixed M/V «Bulkgenova» for 130,000 tons of cargo loading end June Australia discharging China at USD 9.15 per ton with 2 days load and 25,000 tons discharge.