ECONOMY

Shipping Report

TANKERS Market in the Med. is holding, with good demand of modern tonnage out of Black Sea. Rates around W/S 210 while Suezmaxes are around W/S 190. – Cont. is a bit weaker, with the 80,000 tons of cargoes having been fixed at W/S 157.5. – Caribs stable, with latest fixtures on 50,000 tons at W/S 220. – W. Africa on Suezmaxes is quieter, while VLCCs out of Arabian Gulf are holding around W/S 82.5. – In the Cont., N. Hydro has fixed M/T «Petronordic» for 80,000 tons of cargo loading June 20 Norway, discharging UKC, at W/S 157.5. – In Caribs, Hunt for 70,000 tons of cargo loading June 20 East Coast Mexico, discharging US Gulf, has fixed M/T «Clyde Spirit» at W/S 245. – In Caribs, Westport for 50,000 tons of cargo loading June 12 Venezuela, discharging US Gulf, has fixed Heidmar tonnage at W/S 220. DRY CARGO Capers holding firm, with strong interest for long T/C periods. A 150,000-dwt vessel for 3 years’ trading was fixed at USD 16,350 daily. – On Panamaxes, the Atlantic market remains quiet, with owners now asking around USD 17,000 daily with destination East. Augustea has fixed M/V «Adriatica Graeca,» 74,133 dwt, built 2002, delivery Rotterdam for 2 legs at USD 15,000 daily, option redelivery Far East at USD 17,000 daily. – In the East few ships have reported been fixed, but so far there is little change in direction of the market. Cobelfret has fixed M/V «Triton,» 76,336 dwt, built 2001, delivery Taiwan for 2 legs, redelivery Far East at USD 16,000 daily. – On smaller sizes, Agrohall has fixed M/V «Island Skipper,» 28,031 dwt, built 1984, delivery St Lawrence end June, redelivery UK at USD 13,000 daily.