ECONOMY

Shipping Report

TANKERS The Mediterranean market remains active, with rates holding steady at W/S 240 for cross-Med. cargoes and W/S 245 out of Black Sea. – Suezmaxes in the same area are fixed at W/S 167.5 for cross-cargoes, and higher out of Black Sea. – The North Sea remains tight for all sizes. The active Baltic market has driven rates up, with some cargoes still to be covered. – M/T «Minerva Helen,» for 100,000 tons of cargo, was fixed at W/S 177.5, loading Baltic May 26-27, discharging UKC. – In Caribs, the 70,000-ton cargo liftings are fixed at W/S 260-265. – Stusco has fixed M/T «Rebecca,» loading May 22 East Coast Mexico, discharging US Gulf, at W/S 265, while Conoco, loading May 23 with same destination, has fixed M/T «Chemtrans Lyra» at W/S 260. – On smaller sizes, Conoco for 50,000 tons of cargo, loading May 25, discharging US Gulf, has fixed Heidmar tonnage at W/S 295, while same charterers have fixed M/T «Sporades,» loading May 26, discharging USWC, at W/S 305. – Suezmaxes out of West Africa are at the steady levels of W/S 150-155 for the 130,000-ton cargoes. – On VLCCs out of the same area, the last done with destination West was fixed at W/S 95. – In the Arabian Gulf, Stasco has fixed M/T «Front Falcon» for 280,000 tons of cargo, loading June 3, discharging UKC, at W/S 77.5. DRY CARGO The market is quieter, with several vessels ready to be fixed. – In the Far East, M/V «Cape Riviera,» 185,879 dwt, built 2005, was fixed by Japanese charterers for delivery China end-May for a round voyage in the area at USD 60,000 daily, while BHP Billiton has fixed M/V «Taunton,» 186,324 dwt, built 1986, delivery China, for an Australian round at USD 63,000 daily. – The picture is similar for Panamaxes. In the Atlantic more ships have appeared making charterers reconsider their freight ideas. – Cargill has fixed M/V «Paragon,» 71,259 dwt, delivery end-May Passero, trip via Argentina and Egypt, at USD 28,000 daily. – In the Far East there is a lack of fresh inquiry. Charterers’ ideas are lower. – NYK has fixed M/V «Hebei Prince,» 73,008 dwt, built 1996, delivery Japan, trip via East Coast Australia, at USD 20,750 daily. – On smaller sizes, IVS has fixed M/V «Alexa,» 46,640 dwt, built 1995, delivery May 20-27 South Africa, redelivery UKC-Med., at USD 27,000 daily.