ECONOMY

Shipping Report

TANKERS A very active day for VLCC market mainly out of Arabian Gulf. Rates have risen above W/S 130 with destination East. Shell has fixed M/T «Astro Libra» for 265,000 tons of cargo, loading 26 June, discharging Far East, at W/S 132.5. – Tupras in the same area with destination Red Sea has fixed M/T «Courteney Bay» for 292,000 tons of cargo, loading June 17 at W/S 145. – Interesting market for Suezmaxes too. – In the Med., ERG has fixed M/T «Grena» for 130,000 tons of cargo, loading June 11 Egypt, discharging Italy, at W/S 255, while Chevtex for 135,000 tons of cargo, loading June 16, incurred discharging Med., has fixed M/T «Kuzbass» at W/S 285. – In W. Africa, 130,000 tons of cargo are still above W/S 160, while on VLCCs Emerald, for 260,000 tons of cargo, loading June 26, discharging US Gulf-East Coast Canada, has fixed M/T «Kyrakatingo» at W/S 135-W/S 140 respectively. – Out of Caribs, Repsol has fixed M/T «Kaspiy» for 142,500 tons of cargo, loading June 10 East Coast Mexico, discharging Spain at W/S 92.5. – Stable rates for Aframaxes in all areas. – In the Med., NOC has fixed M/T «Merabu» for 80,000 tons of cargo, loading June 1 Libya, discharging Italy at W/S 195, while in the Cont. BHP for same cargo, loading June 11, discharging UKC, has fixed Knutsen tonnage at W/S 155. – In Caribs, Koch for 70,000 tons of cargo, loading June 1, discharging US Gulf, has fixed M/T «Jag Lata» at W/S 142.5. – In W. Africa, and on VLCCs, Shell, for 260,000 tons of cargo, loading 21 June, discharging UKC/Med., has fixed M/T «Astro Chorus» at W/S 110. DRY CARGO While Capers market seems to be reaching bottom, charterers are withdrawing their cargoes, making the market even thinner. – Kleimar in the Atlantic has fixed M/V «CHS Bright,» 151,053 dwt, built 1995, delivery Rotterdam 25-30 June for two legs, redelivery UKC, at USD 36,000 daily. – On Panamaxes., market is driven mainly by mineral cargoes. Freight levels seem steady but it needs more grain cargoes to give a positive trend. – In the East, market remains fragile and a touch more uncertain, with only encouraging sign charterers’ interest in small T/C periods. – In Far East, ETA has fixed M/V «Maria Bottiglieri,» 75,265 dwt, built 1995, delivery Japan end-May, trip via Australia, redelivery India, at USD 21,000 daily. – In Atlantic, Augustea has fixed M/V «Cos Joy,» 74,119 dwt, built 2001, delivery Spain May 29-30 for two legs, redelivery Far East, at USD 31,500 daily. – On smaller sizes, Atlas has fixed M/V «Swan,» 34,290 dwt, built 1977, delivery US Gulf end-May trip via Jamaica, redelivery Rotterdam at USD 21,000 daily. – On ore cargoes, Jiangang steel has fixed Cosco Qingdao tonnage, loading June 20-July 5 Brazil, discharging China, at USD 26.50 per ton with three days all purposes.