ECONOMY

Shipping Report

TANKERS Very little activity in the N. Sea for ships of all sizes with the 100,000-ton cargoes out of the Baltic being fixed at W/S 140-145. – Slow start in the Med. too, with the legs out of the B. Sea still around W/S 185-190. – Caribs weaker with the supply of tonnage and rates for 70,000-ton cargoes at W/S 180. – VLCCs on a downward trend, with Vela having fixed M/T «Radiant Jewel» for 260,000 tons of cargo, loading July 20, discharging US Gulf, at W/S 55. – Suezmaxes also on a downward trend. Erg in the Med. has fixed M/T «Iran Saveh» for 130,000 tons of cargo, loading July 6 Egypt, discharging Italy, at W/S 166.25, while Sun out of W. Africa has fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading July 19, discharging USAC, at W/S 110. – In the Med., Repsol for 80,000 tons of cargo, loading July 1 Libya, discharging Spain, has fixed M/T «New Ace» at W/S 180. – On Suezmaxes, Cepsa for 135,000 tons of cargo, loading July 2 Egypt, discharging Spain, has fixed M/T «Minerva Nounou» at W/S 180. – In Caribs, Exxonmobil for 70,000 tons of cargo, loading June 30, discharging US Gulf, has fixed M/T «Glenross» at W/S 200. – In W. Africa, Hess has fixed M/T «Capt. Diamante» for 130,000 tons of cargo, loading July 16, discharging Caribs, at W/S 110. – In Arabian Gulf, Vela for 280,000 tons of cargo, loading July 15, discharging US Gulf, has fixed M/T «Hyundai Star» at W/S 55. DRY CARGO Some Capers in the Atlantic area are being fixed at easier levels than previously, while in the East, rates appear steady. Mol Navix has fixed M/V «Euro Sailor,» 164,188 dwt, built 1996, delivery Japan July 5-10, trip via Australia, at a steady USD 30,000 daily. – Panamaxes with a supply of early tonnage, particularly for those controlled by grain houses for destinations East. Round-trip voyages are still at same levels, with Kleimar having fixed M/V «Washington Trader» for a trip from Ghent via East Coast, S. America to the East at USD 16,500 daily. – Steady levels in Far East, with Transgrain having fixed M/V «Maritsa,» 73,000 dwt, built 1995, delivery China June 23-28, redelivery Muscat, at USD 16,500 daily. – On Panamax in Far East, Coeclerici has fixed M/V «Pythagoras,» 75,162 dwt, built 2002, delivery Taiwan July 5-10, for 4-6 month period at USD 16,000 daily. – On smaller sizes, Armada has fixed M/V «Alam Mesra,» 46,446 dwt, built 2000, delivery end June, redelivery S. Africa, at USD 13,500 daily. – On coal cargoes, AEP for 130,000 tons of cargo, loading Colombia July 5-20, discharging Holland, has fixed M/V «Papa» at USD 10.10 per ton with 2-day load and 50,000 tons discharge.