ECONOMY

Shipping Report

TANKERS Med. market still quiet despite two or three cargoes having been quoted. Rates are holding at W/S 130 for the 80,000-ton round voyages, with charterers aiming for less due to spot tonnage in the area. – A slow start for the Continent too, with cross 80,000-ton cargoes at W/S 140. Clearlake has fixed M/T «Minerva Iris» for 100,000 tons of cargo, loading June 13, discharging UKC, at W/S 157.5. – Caribs are without latest fixtures due to holiday. – Suezmaxes in the Med. are fixed at W/S 125 for 135,000-ton cargoes, while the 130,000-ton cargoes out of W. Africa are fixed at W/S 145 – W/S 150 with destination USAC / US Gulf. – The 135,000-toncargoes out of N. Sea with destination US Gulf are fixed at W/S 145, while those with destination Med. are at W/S 130. – VLCCs are stable, with rates at W/S 65 for East and Red Sea destinations. – W. Africa – East / West are at W/S 85 and W/S 95 respectively. – In the Med. and on Aframax, Erg, for 80,000 tons of cargo, loading June 12 Egypt, discharging Med., has fixed M/T «Ania» at W/S 130. – On Suezmaxes, Lukoil, for 135,000 tons of cargo, loading June 11 Russia, discharging UKC-Med., has fixed M/T «Aegean Angel» at W/S 125. – In W. Africa, Sun has fixed M/T «Somjin» for 130,000 tons of cargo, loading June 18, discharging USAC, at W/S 150. DRY CARGO A quiet start of the week due to holidays in the UK and US. – Far East market has fewer cargoes and there is ample tonnage in the area. – On the latest known fixtures and on Capers, Glory Wealth has fixed M/V «SG Enterprise,» 211,101 dwt, built 1997, delivery China June 1-5, trip via W. Australia, at USD 45,000 daily. – On Panamax in Far East, Norden has fixed M/V «Red Rose,» 76,629 dwt, built 2003, delivery beg. June China, trip via Australia, redelivery Italy, at USD 15,000 daily. – In the Atlantic, Baumarine has fixed M/V «Michele Bottiglieri,» 75,200 dwt, built 2001, delivery Spain beg. June, trip via USAC, redelivery India, at USD 34,000 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. – On coal cargoes, Corus, for 60,000 tons of cargo, loading EC America June 3-8, discharging Ijmuiden (Netherlands), has paid USD 16.00 per ton with 5 days all purposes.