ECONOMY

Shipping Report

TANKERS VLCC rates are firming further, with charterers paying for tight loading dates, even W/S 135, with destination US Gulf. Emerald for 260,000 tons of cargo with destination Canada has paid W/S 140. – Other fixtures are that of Sasoil and M/T «Iran Najm» for 270,000 tons of cargo, loading June 22, discharging S. Korea, at W/S 125, and Exxonmobil with M/T «Dynamic City» for 240,000 tons of cargo, loading June 24, discharging Japan, at W/S 122.5. – A very tight position for Suezmaxes in the Med. too. Alpine for 135,000 tons of cargo, loading June 24, discharging UKC-Med. / US Gulf, has fixed M/T «Da Ming Hu» at W/S 265 / W/S 190, respectively, while in W. Africa, Sun for 130,000 tons of cargo with destination USAC is negotiating around W/S 172.5. – Stable rates for Aframaxes in all areas. – In the Med., the 80,000-ton cargoes are being negotiated around W/S 200, and in N. Sea at W/S 150-155. – Repsol for 80,000 tons of cargo, loading June 9 Libya, discharging Spain, has fixed M/T «Meribel» at W/S 200. – In the Cont., BHP has fixed M/T «Nordic Yukon» for 80,000 tons of cargo, loading June 11, discharging UKC at W/S 155. – In Caribs, rates are expected to move upward from the present levels. Last fixture is that of Stusco and M/T «Nord Pacific» for 70,000 tons of cargo, loading June 8 East Coast Mexico, discharging USAC, at W/S 140. – In W. Africa and on VLCCs, China Oil has fixed M/T «Apollonia» for 260,000 tons of cargo, loading June 22, discharging China, at W/S 105. – In Arabian Gulf, S. Oil has fixed M/T «Iran Najm» for 270,000 tons of cargo, loading June 22, discharging S. Korea, at W/S 125. DRY CARGO Weak market for Capers due to an absence of cargoes. – On Wednesday, their index lost 19 points, totaling 4,030, while the Panamax index lost two, totaling 3,167. – On Capers, North China Lines has fixed M/V «Katerina V,» 171,218 dwt, built 2004, delivery Japan June 1-10, trip via W. Australia, redelivery China, at USD 40,000 daily. – On Panamax in Far East, MC Transport has fixed M/V «Jin Tai,» 74,204 dwt, built 2002, delivery May 28-30 Japan, for Australian round-trip voyage at USD 21,500 daily. – In Atlantic, Ugland has fixed M/V «Gertrud Salamon,» 74,078 dwt, built 2000, delivery Skaw June 5-7, trip via Poland, redelivery Italy, at USD 27,000 daily. – On smaller sizes, Ed & F Man has fixed M/V «Drake,» 42,800 dwt, built 1985, delivery USAC June 5-10, trip via US Gulf, redelivery Med., at USD 25,000 daily. – On coal cargoes, Carboex has fixed Cargill tonnage for 150,000 tons of cargo, loading end June – beg. July S. Africa, discharging Spain, at USD 13.50 per ton with two-day load and 24,000 tons