ECONOMY

Shipping Report

TANKERS Another quiet day in the Mediterranean, with prompt tonnage available. Rates are expected to move downward unless available vessels meet adequate inquiry. – The picture is similar in the North Sea, with most stems having been covered for May dates, while the Baltic market is untested for June dates so far. – Quiet conditions for Caribs too, with the latest fixtures at W/S 250 for the 70,000-ton round voyages. – On Suezmax, rates appear to hold on the back of a rather limited amount of active cargoes. The 130,000-ton cargoes with destination US Gulf are hovering around W/S 147.5. – VLCCs out of the same area are fixed at W/S 90 with destination United States, while last done for East-bound destination was fixed at W/S 77.5. – In Arabian Gulf, KPC for 285,000 tons of cargo, loading June 6, discharging US Gulf, was fixed M/T «Gemini Voyager» at W/S 67.5. – On Aframax in the Mediterranean, Transway for 80,000 tons of cargo, loading May 31 Black Sea, discharging Mediterranean, has been fixed at W/S 250. – In the Cont., BP has fixed M/T «Natura» for 80,000 tons of cargo, loading May 29, discharging UKC, at W/S 195. – In West Africa, CSSA has fixed M/T «Orion Voyager» for 130,000 tons of cargo, loading June 6, discharging UKC-Mediterranean, at W/S 152.5. DRY CARGO There is very little activity for Capesizes, with most known fixing having been concluded at the end of last week. – In the Far East, Kline has fixed M/V «Cape Osprey,» 161,448 dwt, delivery Singapore, for a Brazilian round-trip voyage at USD 62,500 daily, while BHP Billiton has fixed M/V «Penelope,» 150,393 dwt, built 1997, delivery June 3-10 China, for an Australian round-trip voyage at USD 50,000 daily. – Slow market for Panamaxes too. – Atlantic market appears steadier in comparison to that in the East. – In the Atlantic, Daeyang has fixed M/V «Chemtex Pioneer,» 77,598 dwt, open May 20-22 Belgium, redelivery Far East, at USD 37,000 daily. – In Far East, BHP Billiton has fixed M/V «Jiu Long Feng,» 73,824 dwt, built 2002, delivery China May 23, for an Australian round-trip voyage at USD 20,000 daily. – On smaller sizes, HBC has fixed M/V «Giovanni Topic,» 52,154 dwt, built 2002, delivery China end May, for 3-5 months’ trading at USD 24,000 daily.