ECONOMY

Shipping Report

TANKERS With the only exception VLCCs, rates on the market otherwise remain unaltered. – Latest VLCCs fixtures are moving around W/S 50-52.5 for destinations east and west respectively. – Suezmaxes in the N. Sea are being fixed at W/S 72.5 with destination US Gulf and W/S 77.5 with destination USAC, while Med. rates for 135,000-ton cargoes are hovering at W/S 80. – W. Africa remains quiet with marginal fresh inquiry. Total has fixed Alliance tonnage for 130,000 tons of cargo, loading July 25, discharging UKC/Med. at W/S 75. – Aframaxes steady in the Med., despite increased inquiry, while Cont. is weaker with the latest fixtures for 80,000-ton cargoes at W/S 125-127.5. – In Caribs, the 70,000-ton cargoes are being fixed at W/S 120. – In the Med., CRC for 80,000 tons of cargo, loading July 21 Libya, discharging Med., has fixed M/T «Ist» at W/S 127.5. – In the Cont., BP has fixed M/T «Stena Sirita» for 80,000 tons of cargo, loading July 20 W. Coast Norway, discharging UKC, at W/S 125. – In Caribs, Exxonmobil has fixed M/V «Lynn Craig» for 70,000 tons of cargo, loading July 14, discharging USAC, at W/S 132.5. DRY CARGO Atlantic market on Capers has turned significantly firmer with fixtures for prompt vessels. One owner was said to have seen and turned down USD 40,000 daily for a front-haul voyage. – Bocimar with delivery / redelivery UK via Brazil has fixed M/V «Pantagruel,» 151,153 dwt, built 1991, at USD 30,000 daily. – Good demand is being seen also on long T/C periods. China Steel has fixed Sanko tonnage, 177,000 dwt, for five years’ trading at USD 16,700 daily for the first three years, USD 17,700 for the fourth and USD 18,700 for the fifth year. – Firmer conditions also on Panamaxes, while period activity remains firm. M/V «Alpha Happiness,» 72,700 dwt, built 1999, delivery China July 18-20, was fixed at the above levels. – Freight rates on Handies / Handymaxes remain high, with Samsun having fixed M/V «Artemon,» 37,672 dwt, built 1984, delivery USAC via N. Sea, S. America, redelivery UKC / Med. at USD 17,000 daily. – In Atlantic, Bunge has fixed M/V «Epson Trader,» 75,500 dwt, built 2000, delivery US Gulf July 15-17, redelivery Med. at USD 15,750 daily and USD 290,000 ballast bonus. – On smaller sizes, IVS has fixed M/V «Silver Bin,» 38,925 dwt, built 1995, delivery S. Africa July 20-25, redelivery UKC at USD 12,300 daily.