ECONOMY

Shipping Report

TANKERS Aframax market in the Med. at steady levels, rates varying for inter-Med voyages between W/S 190-200. – N. Sea market declining, however owners are managing to maintain latest levels of W/S 140 for the round-trip voyages. – Caribs steady, with the 70,000-ton cargo liftings being fixed at W/S 190-200. – Suezmax market in the Med. fairly steady but expected to ease slightly. – N. Sea with little activity with rates easing. W/S 135 was paid in the Med. and W/S 145 for cross continent. – W. Africa and Caribs very slow. – In the Med., Repsol for 80,000 tons of cargo, loading July 16 Libya, discharging Spain, has fixed M/T «Olympic Spirit II» at W/S 215. – In the Cont., Sibneft for 100,000 tons of cargo, loading July 23, discharging UKC, has fixed M/T «Eagle Tucson» at W/S 142.5. – In Caribs, Murpy has fixed M/T «Genmar Constantine» for 70,000 tons of cargo, loading July 14, discharging US Gulf at W/S 190. – In W. Africa and on VLCCs, Shell has fixed M/T «Arion» for 260,000 tons of cargo, loading August 1, discharging US Gulf at W/S 120. – In Arabian Gulf, SPC has fixed M/T «Astro Lyra» for 260,000 tons of cargo, loading July 28, discharging Singapore at W/S 120. DRY CARGO Capesize market remains strong, with brokers suggesting that in the Atlantic rates will go near USD 70,000 daily for voyages with destination East. – M/V «First Jupiter,» delivery Spain via Brazil, redelivery Far East has been fixed by Transfield at USD 65,000 daily and USD 375,000 ballast bonus. – In the East, Sinochart has fixed M/V «Formosabulk Duke,» 170,085 dwt, built 2001, delivery Philippines July 17-18 for an Australian round-trip voyage at USD 55,000 daily. – Panamaxes rates continue to rise. Owners wanting period rates in the Atlantic are talking in excess of USD 30,000 daily. – In Far East, China Steel Express has fixed M/V «Jin Tai,» 74,204 dwt, built 2002, delivery Japan beg. July trip via Australia, redelivery Taiwan at USD 28,500 daily. – In Atlantic, Transbulk has fixed M/V «Thalia,» 75,120 dwt, built 2001, delivery July 12-15 Belgium for 2-4 months’ trading at USD 26,750 daily. – On smaller sizes, M/V «Pretty Flourish,» 46,841 dwt, built 1997, delivery mid July Korea for 4-6 months’ trading was fixed at USD 25,000 daily.