ECONOMY

Shipping Report

TANKERS Quieter conditions for VLCCs and Suezmaxes in all areas. Sasoil has fixed M/T «Ness» for 260,000 tons of cargo, loading July 7, discharging S. Korea, at W/S 72.5. – On Suezmaxes in W. Africa, Sun has fixed M/T «North Star» for 130,000 tons of cargo, loading July 12, discharging USAC, at W/S 127.5, while in N. Sea Sun has fixed M/T «Max Jacob» for 135,000 tons of cargo, loading July 11, discharging USAC, at W/S 125. – Aframaxes appear stable in the Med., with Karran having fixed M/T «Athina M» for 80,000 tons of cargo, loading June 29, discharging Med., at W/S 190. – Cont. with a lack of fresh inquiry, while rates expected to be below W/S 150. – In Caribs, Valero has fixed M/T «E. Centaurus» for 70,000 tons of cargo, loading June 28, discharging USAC, at W/S 237.5. DRY CARGO The focus on Capesizes is still in the East, where the fresh inquiry keeps rates stable. – Atlantic market is softer with charterers dropping their rates, though not by great margins. – SK Shipping in the East with delivery Philippines June 26-30, trip via S. Africa, redelivery UKC, has fixed M/V «Heythrop,» 165,729 dwt, built 1996, at USD 26,600 daily. – The picture on Panamaxes is similar: A couple of weak fixtures in the Atlantic has encouraged charterers to try to drive rates lower. – Voest Alpine has fixed M/V «Primrose,» 74,000 dwt, built 2001, delivery US Gulf June 22-23, redelivery Turkey at USD 17,500 daily and USD 325,000 ballast bonus. – In the East, Kline has fixed M/V «Santa Margherita,» 75,597 dwt, built 2002, delivery end June Japan, trip via China, at USD 16,000 daily. – On smaller sizes, M/V «Xanadu,» 50,169 dwt, built 2001, delivery Japan end June for 7-9 month period, has fixed at USD 13,000 daily. – On coal trades, NCSC for 150,000 tons of cargo, loading July 15-31 Indonesia, discharging Israel, has fixed at USD 11.00 per ton with 2-day load and 30,000 tons’ discharge.