ECONOMY

Shipping Report

TANKERS Conditions are weaker for Aframaxes in the Mediterranean, with the 80,000-ton cargo liftings being fixed at less than W/S 130, while rates for Suezmaxes remain steady, with Saras having fixed M/T «Eco Africa» for 130,000 tons of cargo, loading August 1 Egypt, discharging Italy, at W/S 82.5. – The Cont. is stable due to cargoes out of the Baltic Sea, with Stasco having fixed M/T «Petrokrepost» for 100,000 tons of cargo, loading August 1, discharging UKC, at a rate of W/S 125. – Caribs with more cargoes and a number of fixtures but due to an ample supply of tonnage, the 70,000-ton cargoes are still being fixed at W/S 125. – There are stable conditions for Suezmaxes out of the Black Sea with Cepsa having fixed M/T «Silia T,» loading July 29, discharging Spain, at a rate of W/S 82.5, while El Paso has fixed M/T «Genmar Gulf,» loading August 16, discharging USAC, at W/S 80. – In the Med., Petroplus has fixed M/T «Minerva Astra» for 80,000 tons of cargo, loading July 25 Libya, discharging Med., at W/S 137.5. – In Caribs, Petrobras has fixed M/T «Iblea» for 70,000 tons of cargo, loading July 20, discharging USAC, at a rate of W/S 120. DRY CARGO Capesize market stable with Cosco in the East having fixed M/V «York,» 149,513 dwt, built 1990, delivery Taiwan, end July trip, via Australia, redelivery China at USD 28,000 daily. – Panamaxes very firm in the Atlantic due to a tight supply of prompt tonnage with most vessels committed for cargoes out of US Gulf and Brazil / Argentine area. – Wilmar has fixed M/V «Navios Galaxy,» 74,195 dwt, built 2001, delivery France July 20-25 trip, via East Coast S.America, redelivery Far East at USD 19,500 daily. – Firm conditions in the East too, with Navix having fixed M/V «Sea Lotus,» 72,270 dwt, built 1999, delivery end July – beg. August Japan via Australia at USD 17,500 daily. – Rates also for Handies / Handymaxes of all descriptions remain firm in the US Gulf area. – On smaller sizes, Energy has fixed M/V «Explorer II,» 44,964 dwt, built 1983, delivery US Gulf end July, redelivery Italy at USD 19,500 daily.