ECONOMY

Shipping Report

TANKERS – Quieter tone in the market at steady levels in all sizes and areas. – On VLCCs, Exxonmobil for 260,000 tons of cargo loading July 30, discharging Singapore/Japan, has fixed M/T «Pacific Courage» at W/S 55 and W/S 52.5 respectively. – On Suezmaxes rates remain unaltered, with Petrocanada in the Med. fixing M/T «SKS Sinni» for 130,000 tons of cargo loading July 30 Algeria, discharging Canada, at W/S 72.5, while Petrobras in W.Africa has fixed M/T «Voyager» for same cargo quantity loading July 30, discharging Brazil, at W/S 85. – Aframaxes stable in the Med., with Tamoil having fixed Minerva tonnage for 80,000 tons of cargo loading mid-July Libya, discharging Med., at W/S 137.5. – In the Cont., Repsol has fixed M/T «Luzon Spirit» for 80,000 tons of cargo loading July 26 UK, discharging Spain, at W/S 122.5, while in Caribs Navion for 70,000 tons of cargo loading July 17 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Gabriel» at W/S 125. DRY CARGO – Despite the easier tone on Capers in Far East, rates remain firm. – In the Atlantic, BHP Billiton has fixed M/V «KWK Genesis,» 168,404 dwt, built 1996, delivery Spain July 20-22, trip via Brazil, redelivery Japan, at USD 37,000 daily. – Firmer rates on Panamaxes, with tonnage remaining tight for July positions in the Atlantic. Charterers continue to show strong interest in taking Panamaxes for 1 or 2 years. – Cargill has fixed M/V «YK Taurus,» 69,186 dwt, built 1997, delivery Italy end-July, trip via EC S. America, redelivery Far East, at USD 20,000 daily. – In the East rates remain strong, with little signs of this trade easing in the short term. Japanese charterers have fixed M/V «Yong Huan,» 74,500 dwt, built 2000, delivery July 15-16 Philippines, trip via Australia, redelivery Japan, at USD 18,700 daily. – On smaller sizes, M/V «Pacific Embolden,» 43,396 dwt, built 1993, delivery China end July for 6-8 months’ trading, has been fixed at USD 12,000 daily.