ECONOMY

Shipping Report

TANKERS Still very firm conditions in the Mediterranean for Aframaxes. Vessels are still fixed at around W/S 225-230 for the cross Mediterranean cargoes and in excess of W/S 240 out of the Black Sea. – The Baltic market remains active too, with a number of 100,000-ton cargoes for discharging mainly UK/Cont. – On 80,000-ton cargoes ExxonMobil has fixed Lundqvist tonnage, loading East Coast UK May 18, discharging UKC, at W/S 152.5, while on 100,000-ton cargoes Sibneft has on subs M/V «Krasnodar,» loading Butinge May 17, discharging UKC, at W/S 140. – In Caribs, Citgo for 70,000-ton cargo, loading May 14, discharging US Gulf, has fixed M/T «Genmar Strength» at W/S 212.5. – On Suezmaxes in the Mediterranean, Unocal has fixed M/T «Finesse» for 135,000 tons of cargo, loading May 24 Supsa, discharging UKCM, at W/S 157.5. – In W. Africa, Sun has fixed M/T «Genmar Horn» for 130,000 tons of cargo, loading May 28-29, discharging USAC, at W/S 155. – On VLCCs and in Arabian Gulf, BP for 277,000 tons of cargo, loading May 25, discharging Red Sea, has fixed M/T «Grand Lady» at W/S 87.5. DRY CARGO Capers more active in the East despite the Chinese holidays, while in Atlantic market seems stable. – On Panamaxes, Atlantic market gives signs of moving upward while in Far East, despite the number of new cargoes, rates are hovering at the recent lows. The sentiment is a touch more positive. Brokers are saying that the market so far has bottomed, instead of giving signs of significant improvement. – In Atlantic M/V «Angelic Grace,» 74,764 dwt, built 2001, delivery Passero May 5-9, for round Atlantic round was fixed at USD 34,000 daily. – In Far East, Sanko has fixed M/V «Kookaburra,» 75,607 dwt, built 2000, delivery Japan, for 2 years’ trading at USD 28,500 daily. – On smaller sizes Mur has fixed M/V «Lok Prakash,» 26,790 dwt, built 1989, delivery South Africa May 6-7, redelivery Far East, at USD 19,000 daily.