ECONOMY

Shipping Report

TANKERS In the Med., the Aframax market continues to be firm, with rates having been paid in the region of W/S 175-180 for cross-Med. voyages. – BP has fixed M/T «Navion Basker» for 80,000 tons of cargo, loading mid-June Syria, discharging Med., at W/S 180. – The Cont. is not very active, with charterers asking questions into the third decade for Baltic cargoes. Vitol has on subjects M/T «M. Eleonora» for 100,000 tons of cargo, loading June 20 Primorsk, discharging UKC, at W/S 135. – Caribs at lower rates than thay were, with the latest fixtures at W/S 150-155 for 70,000-ton cargo liftings. – Stusco has fixed M/T «Beryl» for 70,000 tons of cargo, loading June 6 East Coast Mexico, discharging US Gulf, at W/S 152.5, while Petrobras for same cargo, loading June 11, discharging USAC, has fixed M/T «Minerva Nike» at W/S 155. – Suezmax rates in W. Africa are settling in the mid-140s for transatlantic voyages and expected to remain so, as tonnage is reasonably balanced. – The Med. is holding at W/S 125 for cross-trip cargoes. – VLCCs out of W. Africa are firming and expected to remain so, with rates at W/S 1000-105 for US Gulf destination. – In Arabian Gulf and on VLCCs, GS Caltex, for 260,000 tons of cargo, loading June 28, discharging S. Korea, has fixed M/T «Desh Ujaala» at W/S 60. DRY CARGO Capesize trading remains slow, with charterers attempting to drive rates even lower. – BHP Billiton, a Swiss Marine tonnage for the normal coal run Richards Bay / Rotterdam, is at USD 11.25 per ton. – On long T/C periods, Mosk has fixed the newbuilding M/V «Pierre Ld,» 172,000 dwt, built Nov. 2005, for five years’ trading at USD 32,000 daily. – Little news to be reported on Panamaxes. In the Far East, USD 22,000 daily is the highest daily rate for a cross-trip voyage in the area. – In the Atlantic, Pan-Ocean has fixed M/V «Paiute,» 70,293 dwt, built 1995, delivery Spain June 3-5, trip via Brazil, redelivery Far East, at USD 35,500 daily. – In Far East, Noble has fixed M/V «Afros,» 75,040 dwt, built 1985, delivery China June 6-10, trip via Australia, redelivery India, at USD 17,900 daily. – On smaller sizes, Cosco has fixed M/V «Mystras,» 48,377 dwt, built 2001, delivery China June 6-10, for 3-5 months’ trading at USD 22,250 daily.