ECONOMY

Shipping Report

TANKERS Lower rates for VLCCs out of Arabian Gulf while their Atlantic market is firm. – Zhenrong, for 265,000-tons cargo loading June 28 Arabian Gulf, discharging China, has fixed M/T «Astro Leon» at W/S 58.5, while W. Africa for the run to US Gulf pays near to W/S 100. – Aframaxes in the Med. are stable at W/S 135-140, depending mainly on loading dates. – N. Sea shows more activity for 100,000-ton cargoes, either from Baltic or from the N. Sea. Rates around W/S 140. – Caribs is even weaker, with the latest fixtures lower than W/S 180 for cross 70,000-ton cargo liftings. – ATMI has fixed M/T «Genmar Princess» for 70,000-ton cargo, loading June 11 Colombia, discharging US Gulf, at W/S 162.5. – Suezmaxes in the Med. are at W/S 125, with the market starting to experience a little upward pressure due to W. Africa’s activity. – W. Africa is at W/S 150, with vettable tonnage thin for June dates. – In the Med. and on Aframax, OMV, for 80,000-ton cargo, loading June 13 Libya, discharging Med., has fixed M/T «Forward Bridge» at W/S 130. – In the Cont., Repsol has fixed M/T «Scorpius» for 80,000-ton cargo, loading June 9 UK, discharging Spain, at W/S 135. – In W. Africa, ENAP, for 130,000-ton cargo, loading June 25, discharging Chile, has fixed M/T «Jag Lok» at W/S 162.5. DRY CARGO Capesize market is giving some signs that Far East rates have bottomed out. – On T/C periods, Mosk took M/V «Tian Li Hai,» 148,725 dwt, built 1999, for 5 years’ trading at USD 26,000 daily, a level which according to the market is low, reflecting the description of the vessel. – In the same area, Coscobulk has fixed M/V «Kapadokia,» 141,475 dwt, built 1981, delivery June 4-6 Taiwan, for an Australian round at USD 25,000 daily. – In the Atlantic, Swiss Marine has fixed M/V «Olympius,» 171,320 dwt, built 2004, for coal cargo, loading Brazil, discharging Malaysia, at USD 18 per ton, which equates to USD 42,000 daily. – Panamaxes are steadier to higher in the East, with more cargoes in the area. – Panocean has fixed M/V «Antzouletta,» 75,123 dwt, built 2000, delivery June 6-8 China, for a Nopac round at USD 20,000 daily. – In the Atlantic Cargill has fixed M/V «Kalliopi l,» 76,500 dwt, built 2003, delivery S. Africa June 8-15, trip via EC S. America, redelivery UKC, at USD 31,500 daily. – On smaller sizes, Pan Ocean has fixed M/V «Belnor,» 47,639 dwt, built 1996, delivery June 6-8 Spain, trip via Black Sea / East Med., at USD 31,000 daily.