ECONOMY

Shipping Report

TANKERS Due to national holidays in many parts of Europe, the market remains quiet. – Aframax rates in the Mediterranean are expected to be around W/S 230-240, although they are relatively untested. – Tupras has fixed M/T «Kapsali» for 80,000 tons of cargo, loading May 25 Egypt, discharging Turkey, at W/S 197.5. – In the North Sea, BP has fixed M/T «Stena Conductor» for 80,000 tons of cargo, loading May 25 and for UK around, at W/S 195. – Suezmaxes in the Mediterranean are steady at W/S 165 for cross and Black Sea cargoes, while out of West Africa the 130,000-ton cargoes are fixed at W/S 150 levels. – In the Mediterranean, Alpine has fixed M/T «Aegean Angel» for 140,000 tons of cargo, loading May 28 Black Sea, discharging Mediterranean, at W/S 160. – VLCCs out of the same area are fixed at low to mid W/S 90s, with destination United States. East cargoes are not in the market yet. – In the Arabian Gulf, Shell for 275,000 tons of cargo, loading June 7, discharging South Africa, has fixed M/T «Else Maersk» at W/S 72.5. DRY CARGO Despite the encouraging volume of business for Capers out of Richards Bay with destination Rotterdam, rates remain stable at USD 18.00 per ton. – Easier numbers also have been agreed for this type of vessel in the Far East too. – On Panamaxes, brokers are saying that the Atlantic market has bottomed out. Others are of the opinion that a weaker Pacific market will undercut any momentum for rising. – On Capers in the Far East, Swiss Marine has fixed M/V «Manasota,» 171,000 dwt, built 2004, delivery Philippines May 20-25, for 3-5 months’ trading at USD 60,000 daily. – On Panamax in the Far East, Cosco has fixed M/V «Medi Rotterdam,» 75,735 dwt, built 2002, delivery May 23-28 China, redelivery Taiwan, at USD 18,000 daily. – In the Atlantic, Atlans has fixed M/V «Belgrano,» 76,759 dwt, built 2004, delivery Spain May 13-15, for 2-leg trip via US Gulf, redelivery Far East, at USD 35,000 daily. – On smaller sizes, Bunge Roma has fixed M/V «Rio Glory,» 30,910 dwt, built 1981, delivery US Gulf end May, redelivery Mediterranean, at USD 22,000 daily. – On coal cargoes, Swiss Marine has fixed M/V «Nightwhisper,» for 160,000 tons of cargo, loading South Africa June 10-25, discharging Rotterdam, at USD 18.00 per ton with 2 days load and 25,000 tons discharge.