ECONOMY

Shipping Report

TANKERS An active market, with interest focused on the bigger sizes. – VLCCs out of Arabian Gulf are fixed with destination US Gulf at W/S 87.5-90 and we expect soon to see W/S 95 for the same run. – KPC for 275,000 tons of cargo, loading June 19, discharging US Gulf-UKC, has fixed Tankers Tonnage at W/S 87.5 – W/S 90 respectively, while Exxonmobil for 280,000 tons of cargo, loading June 17, discharging US Gulf, has fixed front tonnage at W/S 87.5. – The Suezmax market is also interesting, with Med. rates out of Black Sea hovering around W/S 240, while modern Aframaxes are being negotiated around W/S 200. – W. Africa on Suezmax remains active, with Sun having fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading June 21, discharging USAC, at W/S 157.5, while on VLCCs, Repsol for 260,000 tons of cargo, loading June 16, discharging Spain, has fixed M/T «Opalia» at W/S 110. – Aframax cargoes in the N. Sea are still trading at W/S 150, while Caribs remains weak. Stasco has fixed Genmar tonnage for 130,000 tons of cargo, loading May 26 Venezuela, discharging US Gulf, at W/S 150, while on smaller sizes Hess has fixed M/T «Saetta» for 50,000 tons of cargo, loading May 27, discharging USAC, at W/S 165. – In the Med., Erg for 80,000 tons of cargo, loading June 3 Algeria, discharging Italy, has fixed M/T «Histria Emerald» at W/S 160. – On Suezmax, Unocal for 135,000 tons of cargo, loading June 17, discharging UKC/Med., has fixed M/T «Stemnitsa» at W/S 250. – In the Cont., Exxonmobil has fixed M/T «Astro Sirius» for 80,000 tons of cargo, loading June 1, for UK round voyage at W/S 150. – In Caribs, Shell for 70,000 tons of cargo, loading June 10, discharging US Gulf, has fixed M/T «Genmar Strength» at W/S 150. – In W. Africa, Exxonmobil has fixed M/T «Searacer» for 130,000 tons of cargo, loading June 20, discharging UKC-Med., at W/S 160. DRY CARGO Capesize market is very slow, with little new activity reported. Transfield in the East has fixed M/V «Ingenious,» 169,962 dwt, built 1999, delivery 5-7 June Philippines, trip via S. Africa, redelivery UKC, at USD 31,500 daily. – Panamax market has steadied in the Atlantic, with rates holding around the mid USD 25,000 daily for transatlantic round voyages. The early ships have now been fixed but the market lacks fresh inquiry. – In the East, round voyages are holding around USD 22,000 daily. Norden has fixed M/V «Cape,» 73,048 dwt, built 1997, delivery Hong Kong end-May, trip via Australia, redelivery China, at USD 20,000 daily and USD 340,000 ballast bonus. – In Atlantic, Baumarine has fixed M/V «Legiony Polskie,» 73,505 dwt, built 1991, delivery end-May France, trip via Kamsar, redelivery Spain, at USD 22,000 daily. – On coal cargoes, Hydrocantabrica for 150,000 tons of cargo, loading S. Africa end June, discharging Spain, has fixed M/V «Front Climber» at USD 10.70 per ton with 2-day load and 25,000 tons discharge.