ECONOMY

Shipping Report

TANKERS There is an interesting market in the Med., with Aframaxes being fixed at W/S 220-225. – Suezmaxes also are picking up in the area. – Almost steady conditions in the Cont., with the 80,000-ton cargo liftings being fixed at W/S 160, while the 100,000-ton cargoes out of the Baltic are being fixed at W/S 155. – Navion has fixed M/T «Olympia,» loading June 28, discharging UKC, at W/S 160. – Caribs stable, with Stusco having fixed AET tonnage for 70,000 tons of cargo, loading June 28, discharging US Gulf, at W/S 210, while Adam has fixed M/T «Rich Duchess,» loading end-June with same destination, at W/S 205. – West Africa Suezmax rates are spiking for early dates, with latest fixtures at W/S 165. VLCCs are ready to play in the area too. – Arabian Gulf is still being fixed at W/S 135 and W/S 110 east and west, respectively. – Shell has fixed tanker tonnage for 280,000 tons of cargo, loading July 15, discharging UKC, at W/S 112.5, while SPC has fixed M/T «Front Highness» for 265,000 tons of cargo, loading July 12, discharging Singapore, at W/S 140. DRY CARGO There is very little to be reported for Capers. Rates in the Atlantic and East are continuing to slip, and there is talk that the 170,387-dwt, 2000-built M/V «Alpha Era» fixed and failed with pioneer metals at under USD 50,000 daily for a run to China. – In the Atlantic, SK Shipping has fixed M/V «An Angel Splendor,» 161,587 dwt, built 1993, delivery July 1-10 Amsterdam, trip via South America, redelivery UKC, at USD 30,000 daily. – The picture is similar for the Panamaxes, with talk of an lME working at under USD 24,000 daily for a trip to the east. – ABT has fixed M/V «Great Harvest,» 68,192 dwt, built 1986, delivery Brazil July 1-5, trip via East Coast South America, redelivery Muscat, at USD 24,000 daily and USD 480,000 ballast bonus. – In the east, short-period rates are holding steady, though there was talk that tonnage may be close to fixing at under USD 20,000 daily. – On short T/C periods, Coeclerici is reported to be on subs with the 1996-built, 73,008 dwt, M/V «Hebei Prince» to be open June 21-25 in Shanghai for three to five months’ trading at USD 20,000 daily. – Handy/Handymax rates remain weak for ships trading out of US Gulf. – Gearbulk has fixed M/V «Global Wind,» 53,026 dwt, built 2003, delivery Passero end-June, trip via Morocco, redelivery New Zealand, at USD 28,000 daily.