ECONOMY

Shipping Report

TANKERS Aframax market in the Mediterranean is definitely weaker, with cross-Med. cargoes down to maximum W/S 160 while Black Sea cargoes are at no more than W/S 165-170. – North Sea market remains slow too, with fewer cargoes and rates around W/S 140. – Caribs is weaker too, with the latest fixtures for the 70,000-ton cargo liftings at W/S 200. PDV has fixed M/T «Olympic Sponsor,» loading June 19 and for a round-trip voyage, at the abovementioned levels. – Suezmaxes out of West Africa have more cargoes, while rates have been pushed to W/S 140 for the 130,000-ton cargoes with destination USAC. – In the Mediterranean, the loading dates are very sensitive, with Alpine having fixed alliance tonnage for 135,000 tons of cargo, loading June 28 Novorossiysk, discharging UKC-Med., at W/S 150. – Arabian Gulf shows little activity for cargoes with destination East in an ample supply of tonnage. – North Sea is expected to reflect the West Africa market. – VLCCs are weak in all areas. Cargoes out of West Africa with destination US Gulf are at W/S 65. – In the Mediterranean and on Panamax, Shell for 80,000 tons of cargo, loading end-June Algeria, discharging Atlantic, has fixed M/T «Coral Sea» at W/S 165. – On Suezmax, Itochu has fixed M/T «Aegean Dignity» for 135,000 tons of cargo, loading Black Sea, discharging UKC-Med., at W/S 150. – In West Africa, Sun, for 130,000 tons of cargo, loading July 13, discharging USAC, has fixed M/T «Venetia» at W/S 140. – In Arabian Gulf, IOC has fixed M/T «Jag Laadki» for 135,000 tons of cargo, loading July 4, discharging China, at W/S 100. DRY CARGO Capesize rates continue to lag, with charterers driving numbers lower on the Richards Bay/Rotterdam run. – Swiss Marine has fixed M/V «Tian Fu Hai,» 149,135 dwt, built 1998, for 145,000 tons of coal at USD 10.00 per ton, while the same charterers, for 130,000 tons of cargo, loading July 1-15, have fixed M/V «Integra Ducking» at USD 9.45 per ton. – In Far East, BHP Billiton has fixed M/V «Marvellous,» 169,150 dwt, built 1990, for 4-6 months’ trading at USD 35,000 daily. – On Panamaxes in the Atlantic, rates continue to slide, although some prompt ships have gone on subs with June loading dates. – On T/C periods and in Far East, NYK has fixed M/V «Lowlands Nello,» 76,830 dwt, built 2004, delivery Japan, for 3 years’ trading at USD 19,000 daily and not at USD 20,000, as has already been reported.