ECONOMY

Shipping Report

TANKERS A quiet start to the week with lesser inquiry in the Med. and with enough prompt tonnage in the Med. Rates are expected to weaken, although last fixtures at W/S 130-135 for 80,000 tons of cargoes. – Cont. tighter with rates at W/S 117.5, while in Caribs the 70,000 tons cargo liftings are fixed at W/S 112.5-117.5. – Minor demand on Suezmaxes out of W. Africa with rates at mid-60s for US Gulf / USAC destinations. – In the Med., Cowell for 80,000 tons of cargo, loading end May Black Sea discharging Med., has fixed M/T «Marivic» at W/S 105. – In the Continent, Repsol for 80,000 tons of cargo, loading May 25 UK discharging Spain, has fixed M/T «Crude Progress» at W/S 105. – In Caribs Valero has fixed M/T «Guardian» for 70,000 tons of cargo, loading May 21 discharging US Gulf, at W/S 115. – In W. Africa, Hess has fixed M/T «Nikator» for 130,000 tons of cargo, loading June 2 discharging Caribs, at W/S 65. – In Arabian Gulf, Pertamin for 240,000 tons of cargo, loading May 19 discharging Indonesia, has fixed M/T «Kolossi» at W/S 44. DRY CARGO Capers at a strengthening tone with Kline having fixed M/V «Aquagrace» 167,105 dwt, built 1997, delivery Rotterdam mid-May trip via Brazil redelivery Far East, at USD 10,250 daily, while for a 3-5 month period Coeclerici has fixed M/V «Alpha Friendship» 161,417 dwt, built 1996, delivery Rotterdam end May at USD 11,000 daily. – Panamax freight rates in the East continue to improve, while in Atlantic they remain steady. – Atlantic round voyage is a little more than USD 8,000 daily while Pacific rounds close to USD 6,500. The differential between the two areas is closing and a tighter market can be anticipated as a result. – Handymaxes still earning USD 11,000 daily loading Canakkale to Far East destinations while US Gulf market also seems active for similar-sized vessels. – On Panamax in Far East, Hanjin has fixed M/V «North Friendship» 74,732 dwt, built 1999, delivery Korea May 18 trip via Philippines redelivery Japan, at USD 7,000 daily. – In Atlantic, Transfield has fixed M/V «Rialto» 70,316 dwt, built 1996, delivery Argentina end May – start June, redelivery Far East, at USD 9,500 daily and USD 250,000 ballast bonus. – On smaller sizes, Bunge Roma has fixed M/V «Sunor» 43,001 dwt, built 1992, delivery end May US Gulf redelivery Turkey, at USD 10,250 daily.