ECONOMY

Shipping Report

TANKERS Softer conditions on Aframaxes in the Med., with levels less than W/S 120. – Suezmaxes in the same area are steadier, with rates around W/S 85 for 135,000 tons of cargoes. – There is a similar picture in the N. Sea, while Caribs seems firmer due to weather delays. The latest fixtures for 70,000 tons of cargoes at W/S 205-210. Citgo has fixed M/T «Lochness,» loading mid-August Venezuela, discharging USAC, at W/S 210. – Suezmaxes at stable levels out of W. Africa, with the 130,000 tons of cargoes having been fixed at W/S 90. Emerald has fixed M/T «Wilma Yangtze,» loading August 20, discharging USAC, at the above levels. – In the Med., Tamoil for 80,000 tons of cargo, loading July 29 Libya, discharging Med., has fixed Lundqvist tonnage at W/S 120. – In the Cont., Gunvor has fixed M/T «Astro Sirius» for 80,000 tons of cargo, loading August 7, discharging UKC/Med., at W/S 117.5. – In Caribs, Chevtex has fixed M/T «Eagle Charlotte» for 70,000 tons of cargo, loading August 2 East Coast Mexico, discharging US Gulf, at W/S 205. DRY CARGO Firmer conditions on Capers, mainly in the Atlantic basin. – Panamaxes in the same area at very short supply, with the most of prompt tonnage having been absorbed. A couple of fresh mineral cargoes have been quoted while grain business, particularly from S. America, has been limited. – In the East, owners with prompt tonnage are facing an uncertain market. Early ships are building up, particularly in southeast Asia. Charterers are taking advantage and dropping their rate ideas. – Panocean has fixed M/V «Great Luck,» 71,399 dwt, built 1998, delivery July 29-31, trip via USAC, redelivery Far East, at W/S 16,750 daily, while Cobelfret has fixed M/T «Spartia,» 75,115 dwt, built 2000, delivery Aden August 1-10, trip via S. Africa, redelivery UK, at USD 15,500 daily. – In the Atlantic, Cosbulk has fixed M/V «Yong Feng,» 74,100 dwt, built 1999, delivery Amsterdam August 2-5, trip via Baltic, redelivery China, at USD 18,750 daily. – On smaller sizes, Noble has fixed M/V «Mystras,» 48,377 dwt, built 2001, delivery India end July – beg. August via WC India, redelivery China, at USD 14,300 daily.