ECONOMY

Shipping Report

TANKERS A quiet market in the Mediterranean with the UK and US on holiday. The latest fixtures on cross 80,000 tons of cargoes are at W/S 130, while on Suezmaxes the 135,000 tons of cargoes are fixed at W/S 135. – In the Continent, Mercuria has fixed M/T «Gerrita» for 80,000 tons of cargo loading June 7 UK discharging UKC at W/S 140, while Clearlake for 90,000 tons of cargo loading June 4 Baltic discharging UKC has fixed M/T «Livia» at W/S 157.5. – In the Caribbean, Stusco has fixed AET tonnage for 70,000 tons of cargo loading June 1 East Coast Mexico discharging US Gulf at W/S 192.5. – West African market is tightening up on Suezmaxes. Rates are from W/S 120 with States destinations are fixed now at W/S 150, due to canceled units with vetting problems. – VLCCs out of the same area are fixed in the mid-90s and are on a tight position. – Suezmax rates out of Arabian Gulf are at W/S 80 and W/S 90 for West and East destinations respectively. – In the Mediterranean and on Aframax, KMG for 80,000 tons of cargo loading June 8 Black Sea discharging Med. has fixed Minerva tonnage at W/S 155. – On Suezmax, Europet for 135,000 tons of cargo loading June 10 Russia discharging UKC-Med. has fixed M/T «Seaprince» at W/S 135. – In the Caribbean, Atmi has fixed M/T «Marathon» for 70,000 tons of cargo loading June 8 Colombia discharging US Gulf at W/S 205. – In the Arabian Gulf, Ursa for 280,000 tons of cargo loading June 28 discharging US Gulf has fixed M/T «Eagle Venice» at W/S 62.5. DRY CARGO Capesize rates remain weak, particularly in the East. – Caper ballasting from this area and for 150,000 tons of coal Richards Bay/Rotterdam was fixed at USD 13.55 per ton i.e. USD 1.60 down on last done. – In the Far East, also Shinwa has fixed M/V «S.A. Fortius» 172,100 dwt, buktl 2001, delivery Korea and for an Australian round redelivery Japan close to USD 40,000 daily. – The weaker rates in the East have sparked interest in long period charters. Some Asian-based charterers are talking rates in the mid-USD 20,000 daily for 10-year periods. – Panamax rates in the Atlantic appear to hold fairly steady. – In the East rates remain weak, with vessels having been fixed around low to mid USD 18,000 daily for round-trip voyages in the area. – Hanjin has fixed M/V «Marinicki» 76,500 dwt, built 2005, delivery Taiwan June 1-3 trip via East Coast India redelivery Far East at USD 18,000 daily. – In the Atlantic, Cargilll has fixed M/V «Samjohn Liberty» 74,761 dwt, built 1998, delivery Turkey end-May redelivery US Gulf at USD 20,000 daily. – On smaller sizes, WBC has fixed M/V «Moorgate» 45,875 dwt, built 1990, delivery east Med. beg. June redelivery US Gulf at USD 22,500 daily.