ECONOMY

Shipping Report

TANKERS Rates for VLCCs have stayed firm. Stasco, for 275,000 tons of cargo, loading July 5, discharging Far East / UKC, has fixed M/T «Arosa» at W/S 137.5 – W/S 105 respectively. – Suezmax rates definitely weaker in the Mediterranean and West Africa too. – Round voyages in the Mediterranean are fixed at around W/S 180-185 while a vessel out of Supsa was fixed at W/S 227.5. – In West Africa, the tonnage is building up and rates are slipping further with W/S 145 paid to the States and USD 3.25m to EC India. – The market out of the Arabian Gulf is holding steady, with a couple of vessels fixed at W/S 140 to Europe and W/S 150 to India. – Aframax rates are declining in the Mediterranean, with the 80,000-ton round voyages fixed at W/S 175. – In Cont., rates are steady with Sibneft having fixed M/T «Stena Confidence» for 100,000 tons of cargo, loading June 19, discharging UKC, at W/S 150. DRY CARGO A tighter market in the East for Capers, with rates moving higher. M/V «Front Climber,» 169,146 dwt, built 1991, having failed with Mol Navix at USD 42,000 daily for a West Australia/Japan run, was fixed on subs to Sinochart for the same run at USD 45,000 daily. – The Atlantic market remains fairly steady but needs more inquiry in order to move upward. – Transfield has fixed M/V «Star Zulu,» 170,698 dwt, built 1986, delivery SKAW beginning of June, trip via Brazil, redelivery China, at USD 56,000 daily. – The Panamax market in the Atlantic remains flat with rates holding steady. Round voyages are fixed at USD 25,000 daily and at about USD 30,000 daily with destination Far East. – On a short T/C period, Bottiglieri has fixed M/V «Million Trader,» 76,284 dwt, built 2004, delivery France June 15-25, for 5-7 months’ trading at USD 27,000 daily. – In the East, rates are moving downward and there is talk that USD 16,000 daily was agreed to for a 72,000-tonner for a trip to Atlantic. – Fremery in the area has fixed M/V «Myron N,» 74,424 dwt, built 1990, delivery June 6-10 India, redelivery Far East, at USD 20,000 daily. – On smaller sizes, Daeyang has fixed M/V «Athos,» 52,270 dwt, built 2004, delivery China beginning of June, trip via Indonesia, redelivery EC India, at USD 22,000 daily. – On grain cargoes, Dreyfus has fixed M/V «Elias l K,» for 20,000 tons of cargo, loading mid-June Argentina, discharging Tunisia, at USD 62.00 per ton with 4,000-ton load and 2,500 tons