ECONOMY

Shipping Report

TANKERS Good amount of activity in all areas and sizes. – On Suezmaxes, cargoes out of Black Sea are fixed at W/S 175, while cross-Med cargoes are fixed at W/S 195. -m Koch has fixed M/T «Aegean Eagle» for 140,000 tons of cargo, loading June 1 Russia, discharging UKC/Med., at W/S 175, while Tamoil for 130,000 tons of cargo, loading June 4 Libya, discharging UKC/Med., has fixed M/T «Eliomar» at W/S 195. – N. Sea market remains firm also on Suezmaxes, with further increases in rates. – The transatlantic voyages are fixed at W/S 155. – W. Africa too has a number of fixtures on Suezmaxes and VLCCs. Rates at W/S 160 and W/S 110 respectively. – Similar picture for the Aframaxes in both Med. and Cont. The 80,000-ton cargoes in the Med. are fixed at W/S 180 and in N. Sea at W/S 155. – Caribs is quieter, with 70,000-ton cargo liftings having been fixed at W/S 150. – In the Med., Saras for 80,000 tons of cargo, loading beg. June Algeria, discharging Italy, has fixed Minerva tonnage at W/S 165. – In the Cont., Lukoil for 100,000 tons of cargo, loading June 1 Baltic, discharging UKC, has fixed M/T «Progress» at W/S 145. – In Caribs, Valero for 70,000 tons of cargo, loading May 28, discharging US Gulf, has fixed M/T «Mare Adricum» at W/S 160. – In W. Africa, Arcadia has fixed M/T «Genmar Traveler» for 130,000 tons of cargo, loading June 30, discharging Far East, at W/S 150. – In Arabian Gulf Vela for 285,000 tons of cargo, loading June 21, discharging US Gulf, has fixed M/T «Chelsea» at W/S 87.5. DRY CARGO The rate of decline on Capers has slowed down mainly in the Atlantic, although rates have not yet reacted accordingly. – In the East, due to stockpiles of ore at Chinese ports the ships are queuing to discharge, which might cause a hiccup in the market. – Transfield has fixed M/V «Fighting Lady,» 141,014 dwt, built 1982, delivery China end May, trip via W. Australia, at USD 28,000 daily, while in the Atlantic Armada has fixed M/V «Star Zulu,» 170,968 dwt, built 1986, delivery end May Denmark, trip via Brazil, redelivery China, at USD 59,000 daily. – On Panamaxes, the market appears a touch more active than the previous days, with some brokers suggesting that the early June tonnage is tightening in the Atlantic area. – Swiss Marine has fixed M/V «Pessada,» 75,484 dwt, built 1999, delivery France end May, trip via Brazil, redelivery USAC, at USD 37,000 daily. – In the Far East, Nyk has fixed M/V «Epson Trader,» 75,928 dwt, built 2001, delivery Japan May 24-26, for Australian round voyage at USD 24,000 daily. – On coal cargoes, Kepco has fixed Hanjin tonnage for 120,000 tons of cargo loading June 5-15 Australia, discharging China, at USD 12.50 per ton with 45,000-ton load and 20,000 tons discharge.