ECONOMY

Shipping Report

TANKERS Cont. and Med on Aframax remain relatively quiet with rates holding at W/S 102.5 – 105 and W/S 115 – 117.5 respectively. – Caribs in a rising mood with latest fixtures for the 70,000-ton cargo liftings at W/S 160 and we will easily see by the end of the week W/S 170. – Suezmaxes at stable rates at W/S 77.5 for both Med. and Cont. round trip voyages of 135,000 tons of cargo. – In the Med., Agip for 80,000 tons of cargo loading June 10 Egypt, discharging Med., has fixed M/T «Vergina II» at W/S 115. – In the Continent, Koch for 80,000 tons of cargo loading June 12 Baltic, discharging US Gulf, has fixed M/T «Orkney Spirit» at W/S 115. – In Caribs, Orion for 70,000 tons of cargo loading June 12, discharging US Gulf, has fixed M/T «Genmar Constantine» at W/S 160. – In W. Africa, Chevtex for 130,000 tons of cargo loading mid-June, discharging US Gulf / W. America, has fixed M/T «Front Sky» at W/S 70 – W/S 80, respectively. DRY CARGO A firmer market for Capers in Far East with a massive improvement of their index by 20 points the day before yesterday. SK shipping has fixed M/V «Pacific Challenger» 150,600 dwt, built 1995, delivery S. Korea end June for 2 years trading at USD 13,250 daily. – Stable Panamax market in the Continent with Bocimar having fixed M/V «Red Cherry» 73,739 dwt, built 1999, delivery June 1-15 for 1/1 years trading at USD 9,200 daily the first year and USD 10,200 daily for the second. – The Far East remains quiet with Chinese having fixed M/V «Atlantic Savior» 64,754 dwt, built 1983, delivery beg. June Vietnam trip via Australia redelivery China at USD 5,000 daily. – In Atlantic, AP Moller has fixed M/V «Kookaburra» 75,607 dwt, built 2000, delivery beg. June UK, redelivery Spain, at USD 7,000 daily. – On smaller sizes, OK Shipping has fixed M/V «Portoroz» 42,847 dwt, built 1985, delivery Germany beg. June, redelivery Turkey, at USD 7,950 daily. The island will also have the finishing tower, permanent grandstands for 1,000 spectators, temporary grandstands for another 3,000 and media areas. Opposite the island there will be temporary grandstands for 10,000, while another 10,000 will be able to watch the races from the lake embankments.