ECONOMY

Shipping Report

TANKERS Despite increased inquiry out of the Baltic, rates in the N. Sea are weakening further with the 80,000 tons of cargoes been fixed around W/S 110-115. – Med. even weaker, due to availability of tonnage. Rates have fallen below W/S 130. Erg has fixed M/T «Jag Lata» for 80,000 tons of cargo, loading Libya August 3, discharging Italy, at W/S 127.5. – Caribs due to weather conditions seems to be strengthening further, with the 70,000 tons of cargoes been fixed around W/S 195-200. – Suezmaxes steady out of W. Africa, with a number also of VLCCs been fixed at W/S 47.5 for 260,000 tons of cargoes with destination US Gulf. – In the Cont., Tintrade for 80,000 tons of cargo, loading August 5, discharging US Gulf-Atlantic, has fixed M/T «Eagle Centaurus» at W/S 140-145 respectively. – In Caribs, Blanchard has fixed M/T «R Hal Dean» for 70,000 tons of cargo, loading August 4, discharging US Gulf, at W/S 165. – In W. Africa, Emerald for 130,000 tons of cargo, loading August 13, discharging US Gulf-Atlantic, has fixed M/T «Matisse» at W/S 85 – 87.5 respectively. DRY CARGO Quieter tone in the market and very seasonal, although some vessels still achieve interesting freight rates. SK Shipping has fixed M/V «Bosporus,» 151,000 dwt, built 1995, delivery August 5-8 China, redelivery UKC, at USD 22,000 daily. – Good demand also exists for Panamax T/C periods. Pioneer has fixed M/V «Century Star,» 75,300 dwt, built 2003, delivery August 5-10 Cont. for 10-12 months period at USD 15,500 daily. – In Far East, M/V «Leto,» 75,169 dwt, built 2001, delivery China end July for 3-5 months period, was fixed at USD 17,500 daily. – In Atlantic Glencore has fixed M/V «Vega 1,» 63,000 dwt, built 1982, delivery Rotterdam end July, trip via Saudi Arabia, redelivery Muscat, at USD 17,000 daily. – On smaller sizes, Pan Ocean has fixed M/V «Yasa Kaptan Erbil,» 52,455 dwt, built 2002, delivery Japan end July-beg. August for 4-6 months’ trading at USD 14,100 daily. – On grain cargoes, Star Grain has fixed M/V «Estable Duckling» for 55,000 tons of cargo, loading US Gulf July 21-31, discharging Egypt, at USD 24.50 per ton with 10,000-ton load and 7,000-ton discharge.