ECONOMY

Shipping Report

TANKERS VLCCs rates remain firm at W/S 110 and W/S 135 for West and East respectively. – Suezmax trade in the N. Sea remains low, with rates slipping in line with W. Africa. – A number of cargoes are still to be covered out of the Black Sea, however due to presence of tonnage rates are expected to ease. – W. Africa has moved down to W/S 155 for the normal 130,000 tons run with destination USAC. – Aframax steady in the N. Sea and softening in the Med. the 80,000 tons and 100,000 tons of cargoes out of Baltic in the N. Sea are still fixed at W/S 150, while in the Med. the 80,000 tons of cargoes are fixed at W/S 175. – CSSA for 80,000 tons of cargo, loading June 8 UK, discharging UKC, has fixed M/T «Astro Sirius» at W/S 150, while Lukoil for 100,000 tons of cargo, loading June 19 Baltic with same destination, has fixed M/T «Maratha» at the same levels. – In the Med., ENI has fixed M/T «Cape Akrotiri» for 80,000 tons of cargo, loading June 18, discharging Italy, at W/S 187.5. – Caribs is firming, with the latest fixtures for the 70,000 tons of cargo at W/S 190. – Valero has fixed M/T «Overseas Shirley» for 70,000 tons of cargo, loading mid-June East Coast Mexico, discharging US Gulf, at W/S 187.5. – In W. Africa, Petrogal for 130,000 tons of cargo, loading June 28, discharging Portugal, has fixed Genmar tonnage at W/S 180. – In the Arabian Gulf, IOC has fixed M/T «Folk Star» for 280,000 tons of cargo, loading June 19, discharging East Coast India, at W/S 130. DRY CARGO Capesize rates steadier in the East. Brokers are expecting gains in the short term. – Atlantic rates have firmed slightly, with fewer prompt ships in the area. – In the East, Transfield has fixed M/V «Kapadokia,» 141,475 dwt, built 1981, delivery China June 8-15, for Australian round voyage at USD 37,000 daily. – In the Atlantic, Solebay has fixed M/V «Cape Jupiter,» 171,700 dwt, built 1997, delivery June 8-10 Ireland, trip via Brazil, redelivery China, at USD 65,000 daily. – Easier rates for Panamaxes, with the market largely driven by mineral cargoes. – In the Far East, Swiss Marine has fixed M/V «Alabanda,» 74,044 dwt, built 1995, delivery Japan June 13-14, for 2 laden legs, redelivery Atlantic, at USD 18,000 daily. – In the Atlantic, Cargill has fixed M/V «Talisman,» 73,670 dwt, built 1993, delivery beg. June Ghent, for 2 laden legs, redelivery Atlantic, at USD 27,500 daily, option redelivery Far East at USD 31,000 daily. – On T/C periods, Panocean has fixed M/V «Oriental Sun,» 72,651 dwt, built 1998, delivery China June 13-14, for 11-13 months’ trading at USD 21,000 daily. – On ores, BHP Billiton has fixed M/V «Stonegate» for 160,000 tons of cargo, loading June 20-30 Australia, discharging China, at USD 11.25 per ton with 2-day load and 30,000 tons discharge.