ECONOMY

Shipping Report

TANKERS Steadier conditions in all areas. – VLCCs are on the road toward a small correction, while Suezmaxes still being fixed at W/S 90 and W/S 72.5 for the Med. and W. Africa, respectively. – Aframax rates in the Med. are hovering around W/S 140-145, while in Cont., at W/S 135. – Caribs remains quiet with 70,000-ton cargo liftings being fixed at W/S 120. – In the Med., Repsol for 80,000 tons of cargo, loading July 18 Libya, discharging Spain, has fixed M/T «Dsh Rakhash» at W/S 145. – In the Cont., Koch has fixed M/T «New Ace» for 80,000 tons of cargo, loading July 19 Baltic, discharging UKC / Atlantic at W/S 130 – W/S 145, respectively. – In Caribs, Stasco has fixed M/T «Genmar Nestor» for 70,000 tons of cargo, loading July 14 East Coast, Mexico, discharging US Gulf, at W/S 115. DRY CARGO After the fixing of some early Capesizes in the Atlantic, the market has started to move. Eastern Rich has fixed M/V «Collier» for an iron ore cargo, loading Brazil, discharging China, at USD 15.50 per ton with no further details to be reported. – Far East market remains comparatively better, with Transfield having fixed M/V «Good News,» 138,490 dwt, loading a coal cargo from Australia, discharging China, at USD 8.20 per ton. – The Panamax market in the Atlantic generally continues to firm with any pressure for July tonnage mainly from S. America. – In Far East, rates remain very firm despite marginal fresh inquiry. – NYK has fixed M/V «Torm Baltic,» 69,268 dwt, built 1997, delivery / redelivery Japan for a July 18-20 trip via New Zealand at USD 17,500 daily. – In the Atlantic, Bunge has fixed M/V «Happy Clipper,» 73,414 dwt, built 2001, delivery Brazil July 20-25, redelivery Far East, at USD 18,500 daily and USD 385,000 ballast bonus. – On smaller sizes, Samsun has fixed M/V «Springwood,» 37,694 dwt, built 1984, delivery S. Africa July 19-24, redelivery UKC, at USD 11,500 daily.