ECONOMY

Shipping Report

TANKERS The Caribs market has sharply declined, with 70,000 tons of cargo liftings fixed at rates of around W/S 125. – Similarly, 50,000 tons of cargo liftings in same area are fixed at no more than W/S 175. – Med. remains steady with lesser inquiry. Modern Aframax are still fixed at around W/S 180-190 and older units around W/S 140. – Cont. market remains quiet. – Suezmaxes are without latest fixtures out of W. Africa, while in the Med., Petraco has fixed M/T «Histria Crown» for 135,000 tons of cargo, loading July 7 Novorossisk, discharging UKCM, at W/S 140. – In the Med., Vitol for 80,000 tons of cargo, loading July 3 Black Sea, discharging Med., has fixed M/T «Minerva Maya» at W/S 190. – On the Cont., Koch for 80,000 tons of cargo loading July 5, discharging UKC/Med., has fixed M/T «Laura» at W/S 150. – In Caribs, Stasco for 70,000 tons of cargo, loading July 1 East Coast Mexico, discharging US Gulf, has fixed M/T «Clyde Spirit» at W/S 127.5. DRY CARGO A quieter day on Capers, with the Tubarao/Beilun run at USD 16.00 per ton. – On Panamaxes, several fresh Japanese cargoes were quoted in the East, although S. Korean charterers were less active. Rates for period business and round voyages remained steady. – Hanjin has fixed M/V «Cape,» 73,048 dwt, built 1997, delivery Hong Kong end-June, for 4-6 months’ trading at 16,000 daily. – In the Atlantic, several fresh cargoes were quoted with at least six or more grain cargoes from S. America and two from US Gulf. Rates appear steady, at about USD 16,500 daily for the trip to the East. – On Handymaxes, rates for the larger units out of Cont. have eased but are still at essentially respectable levels. – In the Atlantic, Daeyang has fixed M/V «Alessandra d’Amato,» 74,500 dwt, built 2000, delivery Germany July 2-5, trip via Baltic, redelivery China, at USD 17,500 daily. – On smaller sizes, PSM has fixed M/V «Petros R,» 38,830 dwt, built 1984, delivery Tema end-June, trip via Brazil, redelivery Indonesia, at USD 12,750 daily.