ECONOMY

Shipping Report

TANKERS Very quiet day in Mediterranean / N. Sea and Caribs. – In the Mediterranean, yesterday’s rumor was affirmed that ENI has fixed at W/S 182.5, loading Sidi Kerir, discharging Italy, with loading dates June 1-2. – In the N. Sea, a number of 100,000-ton cargoes have been fixed out of Baltic Sea, discharging UKC, at W/S 180. – In the Caribbean, the 70,000-ton cargo liftings from W/S 250 are now fixed at W/S 225. – Exxonmobil has fixed M/T «Sks Tiete» for 70,000 tons of cargo, loading May 24 East Coast Mexico, discharging US Gulf, at W/S 225, while Conoco for same cargo, loading May 26 Venezuela, with same destination, has fixed M/T «Genmar Princess» at W/S 227.5. – Softer tone for Suezmaxes out of W. Africa. The 130,000-ton cargoes with destinations US are fixed at W/S 140 while VLCCs out of the same area are fixed at W/S 90 with destination US Gulf. – Suezmaxes out of Arabian Gulf with very limited inquiry. Rates about W/S 95 to the West and W/S 110 to the East. – VLCCs market out of Arabian Gulf remains quiet. – CPC has fixed M/T «Al Samidoon» for 260,000 tons of cargo, loading June 9, discharging Taiwan, at W/S 54, while Hyundai for 262,000 tons of cargo, loading June 14, discharging Korea, has fixed M/T «New Century» at W/S 62.5. – In the Cont. and on Aframax, Exxonmobil has fixed M/T «Delta Pioneer» for 80,000 tons of cargo, loading May 21 UK, discharging UKC, at W/S 195. – In Caribs Premcor for 70,000 tons of cargo, loading May 23 East Coast Mexico, discharging US Gulf, has fixed M/T «British Vine» at W/S 240. – In W. Africa, Sun for 130,000 tons of cargo, loading June 11, discharging USAC, has fixed M/T «Olympic Faith» at W/S 140. DRY CARGO Capesize rates still falling with ample tonnage in all areas. – Similar is the picture for Panamaxes, except Cont., which shows some strength at least for May tonnage and for the round voyages. – In Far East, there are a number of ballasters with destination Brazil/Argentina in seach of employment. – On Handies US Gulf market still at steady levels but with some owners willing to accept weaker rates on the grounds of fewer cargoes for early June loading dates. – On Panamax in Far East, Shinwa has fixed M/V «Jin Yang,» 76,500 dwt, built 2005, delivery Japan May 25-28, trip via Australia, at USD 20,000 daily. – In Atlantic, Dreyfus has fixed M/V «Ince Istanbul,» 72,891 dwt, built 1999, delivery Morocco May 25-30, trip via East Coast S. America, redelivery Far East, at USD 33,000 daily. – On smaller sizes, Eitzen bulk carriers has fixed M/V «Little Annou,» 44,875 dwt, built 1994, delivery Australia end May, redelivery India, at USD 17,500 daily and USD 245,000 ballast bonus.