ECONOMY

Shipping Report

TANKERS Firmer conditions for VLCCs out of Arabian Gulf with destinations mainly East. – ExxonMobil for 260,000 tons of cargo loading July 26, discharging Far East, has fixed M/T «Sunlight Jewel» at W/ 63.5-66, while in West CSSA for same cargo quantity loading July 29, discharging UKC, has fixed M/T «Britanis» at W/S 52.5. – Weaker conditions for Suezmaxes in all areas. In the Med., CSSA for 135,000 tons of cargo, loading July 10 Libya, discharging UKC, has fixed M/T «Sandra Tapias» at W/S 130, while Sun out of W. Africa has fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading July 26, discharging USAC, at W/S 82.5. – Med., in contrast to Aframaxes, stands relatively high with fixtures around W/S 180 for 80,000 tons of cargo. – Market on Cont. and Caribs even weaker, with 80,000 tons and 70,000 tons of cargo fixed at W/S 135 and W/S 105 respectively. – In Caribs, Stasco has fixed M/V «Overseas Fran» for 70,000 tons of cargo loading July 3 East Coast Mexico, discharging US Gulf, at W/S 105. – In W. Africa, OMV for 130,000 tons of cargo loading July 16, discharging Italy, has fixed M/T «Eurosky» at W/S 90. DRY CARGO Market on Capers has been flat and easier for the last couple of days. Rates have dipped mainly in the Atlantic and on Friday their index lost 31 points, ending at 2,799. – Panamaxes are still holding around 16,500 USD for round voyages in the Atlantic due to continued demand from grain houses for additional tonnage. – Cargill with delivery Brazil July 8-9, for two legs redelivery UKC/Med., has fixed M/V «Angelic Grace,» 74,700 dwt, built 2001, at USD 16,000 daily and USD 325,000 ballast bonus. – Market in the East maintains latest freight levels with Keoyang having fixed M/V «Alpha Melody,» 74,374 dwt, built 2002, delivery Taiwan end-June at USD 17,000 daily, while IINO has fixed M/V «New Champion,» 70,296 dwt, built 1996, delivery China July 3-5, trip via Indonesia, redelivery Japan, at USD 18,000 daily. – On smaller sizes, Hanjin has fixed M/V «K. Topaz,» 43,797 dwt, built 1996, delivery US Gulf July 8-10, redelivery Japan, at USD 20,500 daily.