ECONOMY

Shipping Report

TANKERS Aframax rates in the Med. still at W/S 150. Tamoil just fixed for a cargo Libya/Italy at aforementioned levels, while last week Repsol for 80,000 tons of cargo loading May 18 Libya discharging Spain has fixed M/T «Sks Saluda» at W/S 150. – Cont. is stable too. Petrogal for 80,000 tons of cargo, loading May 17 Norway, discharging Portugal, has fixed Transpetrol tonnage at W/S 142.5, while on 100,000 tons of cargo Petroval has fixed M/V «Aegean Freedom,» loading May 21, discharging UKC, at W/S 140. – Suezmax rates show a small improvement. – N. Sea shows more activity, while Med. has a number of fresh inquiries out of Black Sea. Rates have increased in the area to W/S 110, while early tonnage is clearing out. – W. Africa more active and tight for the end of the month. Voyages with destination US Gulf are now negotiating at W/S 110. – BP for 130,000 tons of cargo, loading June 1, discharging Med., has fixed M/T «Da Ming Hu» at W/S 97.5. – In Caribs, Exxonmobil has fixed M/T «Tito Tapias» for 130,000 tons of cargo, loading May 22, discharging US Gulf, at W/S 115, while the same charterers have fixed M/T «Seagrace,» loading May 19, same destination, at W/S 110. – In Arabian Gulf, Lg Caltex has fixed M/T «Kumangowa» for 270,000 tons of cargo, loading May 31, discharging S. Korea, at W/S 79.5. DRY CARGO Panamax market is firmer, with their index closing last week at 4,123, improved by 56 points, while Capers is still in a downward trend, having lost 6 points to 4,555. – On Capers, Transfield has fixed M/V «Marine Hunter,» 164,891 dwt, built 1984, delivery China mid-May, trip via Australia, option S. Africa, at USD 37,000 daily. – On T/C periods, Norden has fixed M/V «Jupiter Applause,» 69,123 dwt, built 1997, delivery May 10-15 Japan, for 4-6 months’ trading at USD 34,500 daily. – On Panamax in Far East, Noble has fixed M/V «Ruby Indah,» 77,775 dwt, built 1998, delivery May 9-11 China, trip via Australia, redelivery Malaysia, at USD 32,000 daily, while Coeclerici has fixed M/V «Samjohn Liberty,» 74,761 dwt, built 2001, delivery May 10-12 Japan, for two laden legs, first via Roberts Bank, at USD 33,750 daily. – In Atlantic, Proline has fixed M/V «Iran Yazd,» 72,642 dwt, built 2001, delivery Brazil mid-May, trip via East Coast S. America, redelivery Far East, at USD 35,000 daily and 560,000 ballast bonus, while M/V «Great Luck,» 71,399 dwt, built 1998, delivery Passero May 12-18, for transatlantic round voyage, redelivery Skaw-Passero, was fixed at USD 32,000 daily. – On smaller sizes, Oldendorff has fixed M/V «Hakufu,» 26,682 dwt, built 1987, delivery Argentina end May, redelivery US Gulf, at USD 19,000 daily.