ECONOMY

Shipping Report

TANKERS Market remains stable in the N. Sea mainly due to Baltic trips. The 80,000-ton cargoes are being fixed at W/S 135. – In the Med., the market has started with eight to 10 fresh inquiries but, due to ample supply of tonnage, levels are being maintained at W/S 140. Caribs seem weaker with no fresh fixtures to be reported. – Suezmaxes still declining with lesser inquiry, especially out of W. Africa. Rates are around W/S 70 for 130,000-ton cargoes with destination USAC / US Gulf. – In the Med. for Aframaxes, Gunvor has fixed M/T «St Helen» for 80,000 tons of cargo, loading July 19 Russia, discharging Med., at W/S 156. – On Suezmaxes, Exxonmobil has fixed M/T «Genmar Phoenix» for 135,000 tons of cargo, loading July 19 Egypt, discharging Med., at W/S 90. – In the Cont., Gunvor for 80,000 tons of cargo, loading Baltic July 16, discharging UKC, has fixed M/T «Gotland Spirit» at W/S 135. DRY CARGO On Capers, the Far East has provided more cargoes, keeping owners in the area more bullish. BCI has moved upward by 23 points, totaling 2,767. – On T/C periods, Transfield in the East has fixed Carouge tonnage, 149,383 dwt, built 1992, delivery Far East Sept. 5-20 for 12 months’ trading at USD 20,000 daily. – Panamaxes are maintaining their levels, while their biffex has gained nine points. Worthington has fixed M/V «Kamari,» 75,485 dwt, built 1983, delivery Brazil July 20-28 for 2 laden legs, redelivery Skaw-Passero, at USD 16,000 daily and USD 345,000 ballast bonus. – In Far East, Mol Navix has fixed M/V «Alaska,» 71,694 dwt, built 1997, delivery July 15 China, trip via East Coast India, redelivery Japan, at USD 17,000 daily. – On smaller sizes, Conagra has fixed M/V «Pantokrator,» 25,398 dwt, built 1996, delivery Venezuela mid-July, trip via US Gulf, redelivery Chile, at USD 125,00 daily.