ECONOMY

Shipping Report

TANKERS Quieter conditions in the N. Sea with rates stable for modern Aframaxes at W/S 155-160. – Transatlantic rates are still paying substantial premiums. Ergon for 80,000 tons of cargo, loading end June N. Sea, discharging US Gulf, has fixed M/T «St Nick» at W/S 207.5. – Med. steady for inter-Med routes with latest fixtures around W/S 202.5. Petrogal has fixed M/T «Minerva Libra» for 80,000 tons of cargo, loading June 26-27 Algeria, discharging Med. at above levels. – In Caribs, Valero has fixed M/T «Genmar Baltic» for 70,000 tons of cargo, loading June 25, discharging USAC at W/S 240. – Suezmaxes also stable in the Med. as well as in W. Africa, with Valero having fixed M/T «Eurosea» for 130,000 tons of cargo, loading June 29 Algeria, discharging Canada at W/S 145, while Exxonmobil has fixed Eco tonnage for 135,000 tons of cargo, loading June 16 Egypt, discharging Med. at W/S 190. – In the Med., Erg for 80,000 tons of cargo, loading June 23 Libya, discharging Italy, has fixed M/T «Vigor» at W/S 180. – In the Cont., Gunvor has fixed M/T «Futura» for 80,000 tons of cargo, loading June 13 Baltic Sea, discharging UKC at W/S 160. – In Caribs, Koch has fixed AET tonnage for 70,000 tons of cargo, loading June 14, discharging US Gulf at W/S 240. DRY CARGO Caper rates remain very strong in both areas. – In the East, owners appear to be awaiting even higher rates. M/V «Thalassini Axia,» 164,796 dwt, built 1996, was not accepted at USD 32,500 daily for a round-trip voyage. – On Panamaxes, activity in the East has increased, while in the Atlantic area, there are still some vessels around with early loading dates. – Handy/Handymaxes with lesser new inquiry. – In Atlantic, Pan Ocean has fixed M/V «Cos Intrepid,» 74,119 dwt, built 2001, delivery June 25-27 US Gulf, redelivery Far East at USD 15,500 daily and USD 300,000 ballast bonus, while Cargill has fixed M/V «Atlantic,» 73,565 dwt, built 1996, delivery Gibraltar end June trip via East Coast S. America, redelivery Far East at USD 16,250 daily.