ECONOMY

Shipping Report

TANKERS Improved rates for Suezmaxes out of W. Africa, with Sun fixing M/T «Front Climber» for 130,000 tons of cargo loading August 6, discharging USAC, at W/S 80. – VLCCs stable, with M/T «New Valour» for 265,000 tons of cargo loading August 8, discharging Singapore / Japan, been fixed at W/S 57.5 / W/S 55 respectively. – Med. on Aframax around W/S 135, while Suezmaxes remain weak due to lack of inquiry from Black Sea. – Cont. stable, with the 80,000 tons cargo liftings at W/S 130, mainly due to a number of new cargoes out of the Baltic. – Caribs quieter and around W/S 120 for the 70,000-ton cargo liftings. – In the Med., Vitol for 80,000 tons of cargo loading July 16, discharging Med., has fixed M/T «Cerigo» at W/S 110. – In the Cont., Gunvor has fixed M/T «Bergitta» for 100,000 tons of cargo loading July 24 Baltic, discharging UKC, at W/S 127.5. – In Caribs, Premuda has fixed M/T «St. Nicholas» for 70,000 tons of cargo loading July 22 Venezuela, discharging Italy, at W/S 100. DRY CARGO Some orders were enough for driving rates and Biffex index of the Capers at higher numbers. China Steel Express has fixed M/V «Channel Navigator,» 172,058 dwt, built 1997, delivery July 23-24 China, trip via W. Australia, redelivery Taiwan, at USD 29,000 daily. – Panamaxes very firm in all areas. Rates for prompt tonnage in the Atlantic very strong, with Corus having fixed M/V «Silvergate,» 68,158 dwt, built 1987, delivery July 15-21 Spain for round voyage, redelivery Med / Cont., at USD 18,000 daily. – In the Far East, NYK has fixed M/V «Myron N,» 70,400 dwt, built 1990, delivery Japan July 18, redelivery Far East, at USD 17,900 daily. – With little evident and number of known fixtures for handies/handymaxes, market remains essentially strong. In the East with delivery India July 11-14, redelivery China, North China shipping has fixed M/V «Aegean Hawk,» 50,326 dwt, built 2000, at USD 14,000 daily. – On smaller sizes, MCL has fixed M/V «Chios Sailor,» 30,850 dwt, built 1984, delivery July 20-25 S. Africa, redelivery Med. at USD 10,500 daily.