ECONOMY

Shipping Report

TANKERS Another quiet morning, especially in the North Sea, with rates holding at W/S 142.5 for 80,000-ton cargoes. The 100,000-ton cargoes out of the Baltic are at similar levels. – Med. with more cargoes, mainly out of Libya, however rates are also holding stable. Tamoil has fixed M/T «Katja,» loading May 24, discharging Italy, at W/S 145. A CPC Novo load cargo was also fixed at W/S 170, which makes it W/S 155 for a normal B. Sea loading. – Caribs stable and expected to move sideways, with the 70,000-ton cargo liftings being fixed at W/S 210. – Suezmaxes out of Black Sea remain active, with rates up to W/S 117.5. – West Africa a little slower, with all the early June dates worked with VLCC tonnage. – Exxonmobil for 130,000 tons of cargo, loading June 1, discharging US Gulf, has fixed M/T «Nikator» at W/S 102.5, while on VLCCs, Kangqi has fixed M/T «Millenium Maersk» for 260,000 tons of cargo, loading June 11, discharging China, at W/S 74.5. – VLCC cargoes out of Arabian Gulf with destination East are being negotiated around W/S 110. Shell has fixed M/T «Mayfair» for 275,000 tons of cargo, loading June 3, discharging US Gulf – UKC / Far East at W/S 90-92.5 and W/S 110, respectively. – In the Med. and on Suezmaxes, Chevtex for 135,000 tons of cargo, loading May 29, discharging UKC/Med., has fixed M/T «SCF Sayan» at W/S 120. – In the Cont., Dreyfus has fixed M/T «Evita» for 80,000 tons of cargo, loading May 17 East Coast UK, discharging Germany, at W/S 137.5. – In Arabian Gulf, CSSA for 275,000 tons of cargo, loading May 29, discharging UKC/Med., has fixed M/T «Lucky Trader» at W/S 87.5-102.5, respectively. DRY CARGO There are improved freight rates for Capers and Panamaxes in both areas. Their indices have risen by five and 14 points respectively. – On Capers, Oetker has fixed M/V «Aqua Glory,» 171,105 dwt, built 2003, delivery May 15-17 Japan, trip via South Africa, redelivery UKC, at USD 36,000 daily. – On T/C periods, Nasl has fixed M/V «Tetien Trader,» 73,910 dwt, built 2001, delivery May 14-18 Taiwan, for three-five months’ trading at USD 34,000 daily. – On Panamax in the Far East, Navix has fixed M/V «Alpha Flame,» 74,545 dwt, built 1999, delivery Hong Kong May 10-11, trip via West India, redelivery Japan, at USD 31,000 daily. – In Atlantic, Pan Ocean has fixed M/V «World Romance,» 74,047 dwt, built 1999, delivery mid-May Italy, trip via Brazil, redelivery Far East, at USD 42,500 daily. – On smaller sizes, M/V «Atlantic Fortune,» 44,875 dwt, built 1994, delivery mid-May China, for three-five months’ trading, was fixed at USD 25,000 daily.