Shipping Report

TANKERS The VLCCs market is softening with 260,000-ton cargoes to the Arabian Gulf / Far East hovering around W/S 77.5. – Suezmaxes out of W. Africa also appear weaker with less inquiry. Latest fixtures at W/S 143 for 130,000-ton cargoes and expected to move into the W/S 130s shortly. – In the Cont. for the same sized vessels, market seems stable with 135,000-ton cargoes being fixed at W/S 150. – Aframaxes in the Med. are being fixed around W/S 187.5, while Cont., due to lack of inquiry, is expected to move to less than W/S 150. – In Caribs, Premcor has fixed M/T «Genmar Nestor» for 70,000 tons of cargo, loading June 20, discharging US Gulf, at W/S 232.5, while Hess for 50,000 tons of cargo, loading Caribs, discharging USAC, has fixed M/T «United Sunrise» at W/S 200. – In the Med., KPC for 80,000 tons of cargo, loading June 25 Libya, discharging Italy, has fixed M/T «Hamane Spirit» at W/S 192.5. – In the Cont., BP for 80,000 tons of cargo, loading June 28, discharging UKC, has fixed M/T «Overseas JC» at W/S 155. – In W. Africa, Petrobras has fixed M/T «Al Dawha» for 130,000 tons of cargo, loading June 28, discharging Brazil at W/S 145. DRY CARGO Panamax rates remain strong in the East, with round-trip Pacific/Australia voyages at USD 17,000 daily or more. Owners prefer to stay in the area or to fix for short periods than to employ the vessel for backhaul employment. – In Atlantic, at least 10 new orders are quoted in the market addressed to a similar number of available vessels. – Cape rates have eased in the Atlantic with early tonnage, particularly older types, still unfixed. – Asian rates remain strong with Mol Navix having fixed M/V «KWK Exemplar,» 169,300 dwt, built 2001, delivery Taiwan July 7-10 trip via W. Australia, redelivery Japan at USD 34,000 daily. – Handy/Handymax rates expected to rise out of US Gulf, due to scarcity of tonnage in the area. – On Panamax in Far East, Noble has fixed M/V «Arabella,» 75,592 dwt, built 2001, delivery Korea June 19-24 for 4-6 month period at USD 15,800 daily. – In Atlantic, Sanko has fixed M/V «Rain Kiss,» 69,053 dwt, built 1996, delivery Brazil June 27-30, redelivery Japan, at USD 17,000 daily and USD 350,000 ballast bonus. – On smaller sizes, IVS has fixed M/V «Swift,» 36,850 dwt, built 1983, delivery S. Africa June 20-30, redelivery Continent at USD 11,000 daily.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.