ECONOMY

Shipping Report

TANKERS The VLCC market remains interesting, with rates out of the Arabian Gulf with destinations east hovering around W/S 120. – Shell for 270,000 tons of cargo, loading July 17, discharging Far East, has fixed tanker tonnage at W/S 127.5, while Idemitsu for 252,000 tons of cargo, loading July 26, discharging Japan, has fixed M/T «Tohdoh» at W/S 115.5. – Suezmax rates out of this area are dropping, with latest fixtures at W/S 145 with destinations east. – The Med. market in Suezmaxes remains steady, with signs of it rising to W/S 165 for cross-Med. cargoes. Erg has fixed M/T «Front Ardenne,» loading July 13 Egypt, discharging Italy, at W/S 165. – W. African market was very quiet last Friday but rates remain steady in the mid W/S 160s for all destinations. VLCCs from the same area also in tight supply. – Aframaxes steady in the Med. with the cross-trip 80,000-ton cargoes being fixed around W/S 220. – OMV for 80,000 tons of cargo, loading July 7 Egypt, discharging Italy, has fixed Minerva tonnage at W/S 225, while Tamoil for same cargo, loading July 10 Libya, discharging Med., has fixed M/T «Gaetano d’Alesio» at same levels. – In the N. Sea, rates are holding at W/S 160, while on 100,000-ton cargoes with destination US Gulf, Sibneft has fixed M/T «Moscow River,» loading July 7 Tallin, discharging UKC/Med., at W/S 175. – Caribs stable, with Chevtex having fixed M/T «Genmar Ajaw» for 70,000 tons of cargo, loading July 2 East Coast Mexico, discharging US Gulf, at W/S 202.5, while Exxonmobil for same cargo, loading July 5 with same destination, has fixed M/T «Tsunami» at W/S 190. DRY CARGO Capesizes rates are certainly on the move for tonnage, particularly in the East, while the expectation still stands for strengthening in the Atlantic too. – Round-trip voyages in the East are being negotiated around USD 45,000 daily. Noble has fixed M/V «Maria I. Angelicoussi,» delivery China July 1, for Australian round-trip voyage at USD 43,000 daily. – In the Atlantic, rates are expected shortly to reach USD 40,000 daily for round-trip voyages. The last known fixture is that of M/V «Aquabella,» 161,010 dwt, built 1995, delivery July 5-10 Pasero, trip via Colombia, redelivery Portugal, at USD 32,000 daily. – On Panamaxes, NCL has fixed M/V «Four Steel,» 74,443 dwt, built 1999, delivery Malaysia beg. July, for 4-6 months’ trading at USD 23,000 daily. – In Atlantic’ Norden has fixed M/V «Legiony Polskie,» 73,505 dwt, built 1991, delivery UK end June-beg. July via the Baltic, redelivery UKC/ Med., at USD 16,500 daily.