ECONOMY

Shipping Report

TANKERS Charterers in the Mediterranean have started to realize that the vessels list is longer that the amount of cargoes so latest fixtures at W/S 170 with further fall expected. – Little fresh business in the North Sea too, while in Caribs latest rates are at W/S 107.5. – Suezmaxes in West Africa at W/S 117.5 in a steady flow of cargoes. – In the Mediterranean, vessels are getting a premium for earlier loading dates. – Vitol has fixed alliance tonnage for 130,000 tons of cargo, loading July 3 Algeria, discharging US Gulf, at W/S 120, while Sun, for same cargo, loading July 7, discharging USAC, has fixed M/T «Nordic Freedom» at W/S 112,5. – In the Mediterranean and on Aframax CSSA, for 80,000 tons of cargo, loading Algeria June 29, discharging Mediterranean/UKC, has fixed Minerva tonnage at W/S 17.5 – W/S 170 respectively. – In Caribbean, Valero, for 70,000 tons of cargo, loading June 21 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Princess» at W/S 200. – In West Africa, BP, for 130,000 tons of cargo, loading July 11, discharging US Gulf, has fixed M/T «Genmar Zoe» at W/S 115. DRY CARGO Capesize rates are falling further with charterers talking less than USD 10.00 per ton for the coal cargoes Richards Bay/Rotterdam. – Similar is the picture in the East, with Kleimar having fixed M/V «Tai Shan,» 169,147 dwt, delivery Malaysia June 20-22, for a trip via West Australia to China at USD 31,500 daily, while NCS has fixed M/V «Martzoukos A,» 161,995 dwt, built 1995, delivery Philippines June 20-27, for a trip via West Australia to China at USD 27,000 daily. – Panamax owners are trying hard to resist falling rates in the Atlantic but the East remains under much more pressure. – The lMES are fixed with destination East near to USD 30,000 daily, while the transatlantic voyages are at around USD 24,000-25,000 daily. – In the Atlantic Deiulemar has fixed M/V «Angelic Grace,» 74,750 dwt, built 2001, delivery Italy June 14-15, trip via Brazil, at USD 25,500 daily. – In Far East and on T/C periods, Nyk has fixed M/V «Lowlands Nello,» 76,830 dwt, built 2004, delivery Japan for 3 years’ trading at USD 20,000 daily. – On Handy/Handymax, Atlas has fixed M/V «Fenix,» 30,027 dwt, built 1985, delivery US Gulf June 15-19, redelivery Southeast Asia, at USD 24,000 daily.