ECONOMY

Shipping Report

TANKERS In Med. market, though quieter, rates appear steady with 80,000 tons of cargo fixed at W/S 195 and W/S 215 for cross and Black Sea voyages respectively. – Cont. stable as well as Caribs. Koch in the N. Sea has fixed M/T «Beryl» for 80,000 tons of cargo, loading July 5 Portugal, discharging US Gulf, at W/S 195. – Suezmaxes still active in the Med., with ERG having fixed M/T «Yannis P» for 130,000 tons of cargo, loading July 17 Libya, discharging Italy, at W/S 185, while Repsol has fixed M/T «Iran Saveh,» for 135,000 tons of cargo, loading July 20 Algeria, discharging Spain, at W/S 177.5. – In W. Africa, Repsol has fixed M/T «Silia T» for 130,000 tons of cargo, loading July 26, discharging Spain, at W/S 165, while Arcadia on VLCCs has fixed M/T «La Prudencia» for 260,000 tons of cargo, loading July 25, discharging US Gulf, at W/S 125. – In Arabian Gulf, Chevtex, for 275,000 tons of cargo, loading July 30, discharging US Gulf, has fixed M/T «World Lion» at W/S 97.5. DRY CARGO Capesize rates remain strong with talk of firmer rates again in the East. A 170,000-ton dwt, vessel was fixed at USD 50,000 daily for an Australian round voyage. – In the same area, M/V «Front Climber,» 169,146 dwt, built 1991, delivery China end-July, redelivery China/Korea, has been fixed at USD 48,000 daily. – The Atlantic market is also moving while tonnage is thinning out. M/V «Cape Triumph,» 176,000 dwt, built 2004, delivery 1-5 July, trip via Brazil, has been fixed at a healthy rate without any other information being known yet. – A stronger market for Panamax in Atlantic and Asia with modern tonnage Atlantic / East gaining above USD 25,000 daily. – On T/C periods, D’Amato has fixed M/V «Ascanius,» 76,878 dwt, built 2004, delivery July 10-20, Passero for 3-5 months’ trading at USD 26,000 daily. – On smaller sizes, Eitzen bulk carriers has fixed M/V «Prabhu Puni,» 43,595 dwt, built 1992, delivery July 1-5 Japan, trip via Indonesia, redelivery India, at USD 20,500 daily. – On ore cargoes, M/V «Avante Garde,» for 150,000 tons of cargo, loading July 25-31 Brazil, discharging China, was fixed at USD 27.50 per ton with two days’ load and 30,000 tons’ discharge.