ECONOMY

Shipping Report

TANKERS – Quieter conditions in the Med., with Aframaxes at W/S 132.5 while Suezmaxes in the same area at stable levels with the 135,000 tons of cargoes at W/S 90 out of Black Sea and W/S 80 for cross voyages. – Firmer conditions in the Cont., with the 80,000 tons of cargoes been fixed at W/S 130 while Caribs significantly higher with the 70,000-ton cargo liftings at W/S 185. – Suezmaxes steady out of W. Africa, with rates hovering around W/S 80 and VLCCs at W/S 45 irrespective of discharging areas. – In the Med., Stasco for 80,000 tons of cargo loading July 22 and for a round voyage has fixed M/T «Katja» at W/S 132.5. – On Suezmax, Itochu has fixed M/T «Marina M» for 135,000 tons of cargo loading August 5, discharging UKC / Med., at W/S 90. – In the Cont., Tintrade for 80,000 tons of cargo loading August 5, discharging USAC, has fixed M/T «Eagle Centaurus» at W/S 145. – In Caribs, Citgo has fixed M/T «Barents Sea» for 70,000 tons of cargo loading July 31, discharging US Gulf, at W/S 174. – In W. Africa, Emerald for 130,000 tons of cargo loading August 3, discharging USAC, has fixed M/T «Tromso Fidelity» at W/S 80. DRY CARGO – Very few early cargoes have been quoted for Capers, while Panamaxes are maintaining present high levels with strong demand for medium and longer T/C periods. – Handy / Handymaxes remain firm in almost all areas. – On Panamax in Far East, BHP Billiton has fixed M/V «Oinoussian Lion,» 71,662 dwt, built 1996, delivery China mid-July, trip via Indonesia, redelivery UKC/Med., at USD 15,500 daily, while Fednav has fixed M/V «Oceanic Enterprise,» 71,259 dwt, built 1995, delivery July 25-30 China for 11-13 months’ trading, at USD 15,000 daily. – In Atlantic, Hanjin has fixed M/V «Thetis,» 73,653 dwt, built 1993, delivery US Gulf August 5-15, for 6-8 months’ trading, at USD 16,800 daily and USD 360,000 ballast bonus. – On smaller sizes, Seaboard has fixed M/V «Happy Venture,» 28,600 dwt, built 1996, delivery USAC July 20-25 for 3-5 months’ trading, at USD 11,250 daily for the first 60 days and USD 9,000 daily for the balance period.