ECONOMY

Shipping Report

TANKERS Another quiet day in the N. Sea with charterers looking to cover their remaining June requirements. Rates currently look stable with 80,000-ton cargoes being fixed at W/S 160, while the 100,000-ton cargoes out of the Baltic are being negotiated at W/S 155. – A quiet day for the Med. too, with marginal inquiry from Black Sea, not only on Aframaxes but on Suezmaxes as well. – A balanced market for ships and cargoes in Caribs. The 70,000-ton cargoes are being fixed around W/S 220. – Shell has fixed AET tonnage for 70,000 tons of cargo, loading June 17 East Coast Mexico, discharging US Gulf, at W/S 218, while ATMI for same cargo, loading June 28 Colombia, with same destination, has fixed M/T «Serenity» at W/S 217.5. – Lack of activity on Suezmaxes, not only in the Med., as we have said, but in W. Africa too, with rates dropping to W/S 137.5-140 for US destinations. – Sun for 130,000 tons of cargo, loading July 9, discharging USAC, has fixed M/T «Genmar Prometheus» at W/S 137.5, while Chevtex for same cargo, loading July 9, discharging US Gulf, has fixed M/T «Sabine» at same levels. – On VLCCs in the same area, Sinochem has fixed M/T «Ulan» for 260,000 tons of cargo, loading July 16, discharging China, at W/S 100. – In the Cont., OMV for 140,000 tons of cargo, loading June 25 UK, discharging Italy, has fixed M/T «Iran Saveh» at W/S 105. DRY CARGO Rates continuing to slide, particularly in the Atlantic. – On Capers, M/V Glory Wealth allegedly booked the 2001-built M/V «Nord Tramp» for an end June-early July 150,000-ton ore cargo from Sepetiba (Brazil) to China at USD 22.50 per ton, while earlier the same size cargo from Tubarao to same destination was fixed at USD 23.25 per ton. – In the East, Cetragpa has fixed M/V «KWK Exemplar,» 169,300 dwt, built 2001, delivery Korea, trip via Australia, redelivery UKC, at USD 29,000 daily. – The Panamax market remains exemptionally slow, with very little so far being reported. Rates largely unchanged, with charterers negotiating tonnage for short periods in the East. The lmes are holding around USD 19,500 to over USD 22,000 daily, depending on trade. – The Atlantic remains under pressure with a shortage of front-haul business. – In Far East and on T/C periods, Solebay has fixed M/V «Ad Astra,» 72,891 dwt, built 1999, delivery S. Korea June 15-20, for 3-5 months’ trading at USD 19,500 daily. – On smaller sizes, Seaboard has fixed M/V «Moorgate,» 45,875 dwt, built 1990, delivery Argentina June 23-29, redelivery West Coast S. America, at USD 21,000 daily.