ECONOMY

Shipping Report

TANKERS Med. Aframax market poised for further rise, mainly due to short supply of tonnage. Total has fixed M/T «Valbrunna» for 80,000 tons of cargo, loading June 28 Libya, discharging France, at W/S 222.5. – Cont. market stable and ready to take off for end-June dates. Present rates stable, with 80,000-ton round-trip voyages at W/S 160, while the 100,000-ton cargoes out of Baltic with UKC discharge at W/S 152.5. – Europet for 100,000-ton cargo, loading June 29, discharging UKC, fixed M/T «Stena Conductor» at W/S 152.5. – Caribs stable with the 70,000-ton cargo liftings being fixed at W/S 215-217.5. – BP for 70,000-ton cargo, loading June 30, discharging US Gulf, has fixed M/T «Minerva Helen» at W/S 215; Stusco for same cargo, loading June 17 East Coast Mexico, with same destination, has fixed M/T «Eagle Toledo» at W/S 218.25. – Suezmax market not very active in the Med., with rates hovering around W/S 140; improved in W. Africa due to increased activity with rates at W/S 150. – Sun has fixed M/T «Super Lady» for 130,000-ton cargo, loading July 11, discharging USAC, at W/S 145; Repsol for same cargo, loading June 28, discharging Spain, has fixed M/T «Wilmina» at W/S 145. – VLCCs stable both for east and west destinations. The 270,000-ton cargoes are being fixed at W/S 130-135 and W/S 112.5, respectively. DRY CARGO Another slow day with very little reported as being fixed. – Atlantic rates slipped again to weaker numbers for Far East destinations. – Various indices have followed, with Capers on Monday having lost 50 points, totaling 3,721, while the Panamax index has lost 21, totaling 2,705. – On Capers, Cosbulk has fixed M/V «Papa,» 139,779 dwt, built 1984, delivery China June 28-30 for two-leg trip via Taiwan and W. Australia, redelivery China, at USD 35,000 daily. – On Panamax in Far East, Daeyang has fixed M/V «Mykali,» 76,150 dwt, built 2004, delivery Japan June 18-20, for 3-5 months’ trading at USD 21,000 daily. – In Atlantic, Bunge has fixed M/V «President G,» 69,344 dwt, built 1988, delivery Skaw June 23-25, for 2-4 months’ trading at USD 18,100 daily. – On coal cargoes, Powergen has fixed Cargill tonnage for 150,000 tons, loading Jan. 2005 S. Africa, discharging Rotterdam, at USD 10.75 per ton with two-day load and 25,000 tons discharge.