ECONOMY

Shipping Report

TANKERS Even weaker conditions in the Med., with Aframax tonnage increasing their availability while rates are expected to move less than W/S 130. – Cont. on similar numbers due to inquiry out of Baltic Sea, while Caribs is stable with the 70,000-ton cargo liftings been fixed at W/S 180. – Suezmaxes almost stable in all areas, with Med. at W/S 85-90 for 135,000 tons of cargoes, while out of W. Africa rates are still hovering around W/S 80 with Sun having fixed M/T «North Star» for 130,000 tons of cargo loading August 18, discharging USAC, at W/S 80. – On VLCCs and out of the same area, CPC has fixed M/T «World Crest» for 258,000 tons of cargo loading August 22, discharging Taiwan, at W/S 45. – In the Med., Stasco has fixed M/T «New Ace» for 80,000 tons of cargo loading July 29 Banias, discharging Med., at W/S 132.5. – In the Cont., CSSA has fixed M/T «Gotland Spirit» for 80,000 tons of cargo loading July 29 N. Sea, discharging UKC, at W/S 130. – In Caribs, Conoco has fixed M/T «Jag Leela» for 70,000 tons of cargo loading July 27, discharging US Gulf, at W/S 180. – In W. Africa, Petrobras has fixed M/T «Olympic Flair» for 130,000 tons of cargo loading August 7, discharging Brazil, at W/S 85. DRY CARGO Despite the weaker Biffex indices, rates for Capers in the East and Panamaxes in the Atlantic are holding. – On Capers, Swiss Marine has fixed M/V «Philippe Ld,» 169,883 dwt, built 1999, delivery Sept. 1-10 China for 18-20 month period at USD 22,600 daily first 12 months and USD 21,600 for balance. – Good demand also exists for T/C periods. – Hanjin in Far East has fixed M/V «National Star,» 73,500 dwt, built 1997, delivery India end July for 4-6 months’ trading at USD 16,500 daily, while in the Atlantic Cargill has fixed M/V «Altair» 74,000 dwt, built 2001, delivery Hamburg end July for 12 months’ trading at USD 14,800 daily. – Energy has fixed M/V «Caravol Galaxy,» 61,000 dwt, built 1978, delivery US Gulf July 20-25 for 3-5 months’ trading at USD 12,500 daily. – On smaller sizes M/V «George Lyras,» 35,700 dwt, built 1984, delivery Morocco July 20-25, trip via Caribbean Sea, redelivery Cont., has fixed at USD 10,500 daily.