ECONOMY

Shipping Report

TANKERS Quiet conditions prevail in all areas. – In the Med., modern Aframaxes out of Black Sea are being fixed at W/S 190 and even those for replacement purposes with prompt loading dates are near the above rates. – Cont. similarly at W/S 150 for modern Aframaxes and are on a declining trend. – In Caribs, fresh inquiry is very limited, with Premcor having fixed M/T «Genmar Nestor» for 70,000 tons of cargo, loading June 20, discharging US Gulf, at W/S 232.5. – Suezmaxes out of W. Africa are still being fixed around W/S 140-145, although demand is limited. On VLCCs out of the same area, Sun has fixed M/T «Crown Unity» for 260,000 tons of cargo, loading July 12, discharging USAC at W/S 97.5. – On VLCCs, rates out of Arabian Gulf almost stable, with Chevtex having fixed M/T «Astro Luna» for 255,000 tons of cargo, loading July 9, discharging Far East, at W/S 80. – On Aframaxes in the Med., Rocoil has fixed M/T «Apageon» for 80,000 tons of cargo, loading June 29 Black Sea, discharging Med., at W/S 155. – In the Cont., Petroplus has fixed M/T «Progress» for 80,000 tons of cargo, loading June 21 UK, discharging Belgium, at W/S 157.5. – In Caribs, Valero has fixed M/T «Aegean Legend» for 70,000 tons of cargo, loading June 26, discharging USAC, at W/S 240. – In W. Africa, Irving has fixed M/T «Genmar Orion» for 130,000 tons of cargo, loading July 9, discharging Canada, at W/S 147.5. DRY CARGO Caper rates remain strong in the East, with Korea Line having fixed M/V «Meynell,» 185,767 dwt, built 1997, delivery/redelivery China June 25-30 via Australia, at USD 32,000 daily, while the Atlantic market is sluggish with few early ships in position. – Panamaxes are active in the East, with rates moving around USD 17,000 daily for Nopac round-trip voyages. – In the Atlantic, owners have sharply increased the rates due to additional fresh inquiry. Transfield has fixed M/V «Amira,» 74,401 dwt, built 2001, delivery UKC mid-June trip via France, redelivery China at USD 16,750 daily. – On Panamaxes in Far East, Bunge has fixed M/V «Poseidon,» 74,900 dwt, built 2001, delivery end June China for 4-6 month period at USD 15,750 daily. – In Atlantic, Cosbulk has fixed M/V «Marine Prosperity 2,» 73,326 dwt, built 2001, delivery Germany June 23-25 trip via Baltic, redelivery China at USD 17,500 daily. – On smaller sizes, HMM has fixed M/V «Jin Hui,» 50,777 dwt, built 2000, delivery Arabian Gulf mid June for 7-9 month period at USD 13,350 daily.