ECONOMY

Shipping Report

TANKERS Relatively stable conditions in the Med., with Aframaxes at W/S 145-150, depending on the voyage and loading dates. – North Sea market looks set to soften, with very little fresh inquiry in the area. The 100,000-ton cargoes out of Primorsk are being fixed at less than W/S 170. – Caribs stable at W/S 210 for 70,000-ton cargo liftings. – Quieter conditions for Suezmaxes in all areas. – In the Med., 135,000-ton cargoes are being fixed at W/S 135 and expected to decline further, while in West Africa, BP has fixed M/T «Super Lady» for 130,000 tons of cargo, loading June 20, discharging Med., at W/S 105. – Sun in the same area, for 130,000 tons of cargo, loading June 18, discharging USAC, has fixed M/T «Sacramento» at W/S 112.5. – VLCCs, with a number of fixtures out of the Arabian Gulf, are at a small rate of improvement. – In the Med. and on Aframaxes, Noc has fixed M/T «Hellas Warrior» for 80,000 tons of cargo, loading June 2 Libya, discharging Italy, at W/S 150. – In the Cont., CSSA has fixed M/T «Delta Pioneer» for 80,000 tons of cargo, loading May 26 East Coast UK, discharging UKC, at W/S 187.5. – In Caribs, Valero, for 70,000 tons of cargo, loading June 4, discharging USAC, has fixed M/T «Elise Schulte» at W/S 195. – In Arabian Gulf, HMM, for 270,000 tons of cargo, loading end May, discharging S. Korea, has fixed frontline tonnage at W/S 62.5. DRY CARGO Rates remained low for Capesizes and allegedly dipping to USD 15.00 on the Richards Bay / Rotterdam run. – The newbuilding M/V «China Peace» went to Constellation for a 150,000-ton 10 percent coal cargo from Richards Bay to Hunterston at USD 14.80 with 40,000 tons daily discharge with an option of Rotterdam at USD 15.10 per ton. – Atlantic market on Panamaxes remains under pressure in a limited number of new cargoes. – According to the latest information for the quick trips Baltic/East with fertilizers, freight rates are around USD 35,000-37,000 daily. – In the same area, M/V «Giuseppe Rizzo,» 77,684 dwt, built 2004, was fixed by Cargill, delivery Spain end May, trip via East Coast South America, at USD 36,000 daily. – In Far East, M/V «Ellivita,» 75,522 dwt, built 2002, delivery China end May, redelivery Arabian Gulf, was fixed at USD 20,000 daily. – On smaller sizes, Korea Line has fixed M/V «Alam Makmur,» 46,644 dwt, built 2000, delivery Far East end June – beg. July, for two years’ trading at USD 21,000 daily.