ECONOMY

Shipping Report

TANKERS The Mediterranean market remains quiet, while no impact has been seen on rates. – The picture in the North Sea is similar, with limited activity. The market needs a few quoted cargoes in order to see any actual trend. – In the Mediterranean, Repsol for 80,000 tons of cargo, loading July 9-11 Libya, discharging Spain, has fixed M/T «Sea Loyalty» at W/S 192.5, while Eni for same cargo, loading Egypt, discharging Med., has fixed M/T «Hellas Warrior» at W/S 215. – In the Cont., BP for 97,000 tons of cargo, loading July 11-12 Baltic, discharging UKC, has fixed M/T «Kaluga» at W/S 160 option, discharging US Gulf-USAC at W/S 177.5-W/S182.5, respectively. – In Caribs, rates are holding at W/S 190 with no interest in Suezmax sizes. – Chevtex has fixed M/T «Iblea» for 70,000 tons of cargo, loading July 11, discharging US Gulf, at W/S 190, while Exxonmobil has fixed M/T «Jag Lata» for same cargo, loading July 8, discharging US Gulf, at W/S 185. – Suezmax rates in the Mediterranean are moving upward for the W/S 160 levels, while West Africa will still admit W/S 160s for forward T/A dates. – In Arabian Gulf, very little fresh cargoes have been fixed with destinations East in the W/S 150s, while the last done West was at W/S 120. – On VLCCs, Total for 260,000 tons of cargo, loading July 27, discharging US Gulf – Far East, has fixed front tonnage at W/S 127.5 – W/S 100, respectively. DRY CARGO Brokers continue to talk of a firmer market, especially for Capesize vessels, while their Baltic index on closing on June 28 had gained 129 points, totaling 3,953. – On the same date, the Panamax index had gained 53 points, totaling 2,474. – BHP Billiton has fixed M/V «Aquajoy,» 171,000 dwt, built 2003, delivery July 5-15 Korea, trip via East Coast Australia, redelivery UKC, at USD 35,000 daily, while Transfield has fixed M/T «Carouge,» 149,383 dwt, built 1992, delivery China July 3-5, trip via Western Australia, at USD 39,000 daily. – On Panamax in Far East, NYK has fixed M/V «Belflower,» 76,300 dwt, built 2004, delivery August 1-30, for two years’ trading at USD 17,000 daily. – In Atlantic, Cargill has fixed M/V «Atlantic Pride,» 78,434 dwt, built 1981, delivery Passero end June, trip via East Coast South America, redelivery UKC-Mediterranean at USD 14,000 daily. – On ore cargoes, M/V «La Mer» for 150,000 tons of cargo, loading July 8-15 Brazil, discharging China, has fixed at USD 27.50 per ton with two-day load and 30,000 tons discharge.