ECONOMY

Shipping Report

TANKERS Firmer conditions on VLCCs with Chevtex having fixed M/T «Olympic Loyalty» for 275,000 tons of cargo, loading July 27, discharging Singapore, at W/S 65. – Market on Suezmaxes remains weak in the Med. The 135,000-ton cargoes are being fixed at W/S 120, while the 130,000-ton cargoes out of W. Africa are being fixed at close to W/S 80. – Aframaxes almost stable in the Med. and Cont., while Caribs are picking up slightly due to VLCCs lightening operations. Valero has fixed Genmar tonnage for 70,000 tons of cargo, loading July 5 East Coast Mexico, discharging US Gulf, at W/S 120. – In the Med., Repsol for 80,000 tons of cargo, loading July 9 Algeria, discharging Spain, has fixed M/T «Zoras» at W/S 145. – In the Cont., Murphy for 80,000 tons of cargo, loading July 15 Norway, discharging UK, has fixed M/T «Braveheart» at W/S 132.5. DRY CARGO Market on Capers in the Atlantic remains weaker with a few early ships taking even lower rates. – On Panamaxes, rates in the Far East continue to be firm, with charterers chasing tonnage giving July 25 cancellation dates. The takers so far are very few. – Atlantic rates following the activity of grain charterers. Egypt’s main official wheat buyer bought 300,000 tons of US wheat for July-August shipment with three cargoes to be shipped from the US Gulf and two from the West Coast. – In Far East, Transfield has fixed M/V «Aleslevada,» 70,360 dwt, built 1990, delivery China July 9-11 for 6- to 8-month period at USD 15,900 daily. – In Atlantic, Dreyfus has fixed M/V «Edfu,» 71,572 dwt, built 1997, delivery Brazil July 6-7, trip via East Coast S. America, redelivery Far East at USD 17,500 daily and USD 325,000 ballast bonus. – On smaller sizes, Hugo Neu has fixed M/V «Alio,» 42,900 dwt, built 1984, delivery East Coast N. America beg. July, redelivery Thailand at USD 15,250 daily.