ECONOMY

Shipping Report

TANKERS Lesser inquiry in the Med. and Cont. In the Med., activity for Aframax is focused around June 4-8 while position of tonnage was ready to accept W/S 120 much earlier. – Very little is going on in the N. Sea area either. Plenty of tonnage in a falling market. Present levels at W/S 125 on 80,000 tons of cargo. – W. Africa steady on Suezmax and at W/S 67.5 for 130,000 tons of cargo, loading mid-June with destination USAC. – In the Med., Api, for 80,000 tons, loading June 8 Egypt, discharging Italy, has fixed M/T «Enalios Skiron» at W/S 110. – On the Cont., Gunvor for 80,000 tons of cargo, loading May 27 Baltic, discharging UKC, has fixed M/T «New Ace» at W/S 130. – In Caribs, SPI for 70,000 tons of cargo, loading June 28, discharging USAC, has fixed M/T «Genmar Constantine» at W/S 125. – In W. Africa, Petrobras has fixed Alliance tonnage for 130,000 tons of cargo, loading May 23, discharging Brazil at W/S 79. DRY CARGO There is not much exciting news to be reported for Capers and Panamaxes. Rates seem steady, with Nippon having fixed Mosk tonnage for 160,000 tons of ore, loading W. Australia June 10-25, discharging Japan, at USD 3.65 per ton with two days load and 30,000 tons discharge. – Trading sources report promising days some weeks ahead for Panamaxes in the Atlantic due to grain trade acitivity. – Handymax in the East at very low levels with reasonable rates only on bagged rice or sugar cargoes for Arabian Gulf destinations. Vessels of 37-40,000 dwt, are fixed at USD 6,000 and USD 6,500 daily for Iran or Iraq. – On Capers, Cargill has fixed M/V «Aquabella,» 161,010 dwt, built 1995, delivery June 8-15 Ijmuiden, for 5-7-month period at USD 11,500 daily. – On Panamax in Far East, Kline has fixed M/V «Vogevoyager,» 72,170 dwt, built 1996, delivery Taiwan May 22, trip via E. Australia, redelivery Japan, at USD 6,500 daily. – In Atlantic, Sanko has fixed M/V «Triton,» 75,336 dwt, built 2001, delivery US Gulf June 1-15, redelivery Japan, at USD 9,500 daily and with USD 220,000 ballast bonus.