ECONOMY

Shipping Report

TANKERS Med. market is taking a firmer tone, with fixtures for 80,000-ton cargoes at W/S 210. – Repsol has fixed M/T «Athina M,» loading July 20 Syria, discharging Med., at the above-said levels, while Libyan charterers have fixed Minerva tonnage at same levels. – Suezmax rates in the area have eased to W/S 160 for cross Med. trips and W/S 150 for transatlantic. – Black Sea relatively active, with the latest fixtures around W/S 160. – In the N. Sea, the Baltic market is weakening, with each fixture at slightly lower levels than the last. – CSSA has fixed M/T «Ov. Fran» for 100,000 tons of cargo, loading 25-26 July Primorsk, discharging UKC at W/S 140. – Caribs market is increasing, with latest fixtures around W/S 200 for the 70,000-ton cargo liftings. – Stasco has fixed M/T «Aegean Legend,» loading July 4 East Coast, Mexico, discharging US Gulf at above said levels, while Navion for same cargo, loading July 17 with same destination has fixed M/T «Tsunami» at W/S 190. – VLCC rates are also firming to W/S 130 with destinations East. – Formosa has fixed M/T «Falkonera» for 260,000 tons of cargo, loading August 1, discharging Philippines at above said levels. DRY CARGO Capesize rates in the Atlantic are moving closer to USD 70,000 daily for trips with destinations East, while round-trip voyage rates are close to USD 60,000 daily. – Brokers are encouraging owners for end-July tonnage at USD 80,000 daily for trips to the East due to a shortage of tonnage supply. – Sinochart has fixed M/V «Tai Shan,» 169,147 dwt, built 1999, delivery Passero trip via Brazil, redelivery China at USD 68,000 daily. – In the East, Swiss Marine has fixed M/V «Cape Providence,» 146,019 dwt, built 1987, delivery China July 16-25 for three legs at USD 42,000 daily. – Panamax owners remain bullish, talking firming rates, while very little has been reported for single trips. – In Far East, Fednav has fixed M/V «Linda Oldendorff,» 75,275 dwt, built 1995, delivery China July 15-20 for 3-5 months’ trading at USD 28,500 daily. – In Atlantic, D’Amato has fixed M/V «Santa Margherita,» 75,957 dwt, built 2002, delivery US Gulf July 25-30 for two years’ trading at USD 20,000 daily. – On smaller sizes, Noble has fixed M/V «Irinikos,» 61,748 dwt, built 1984, delivery China July 15-23 trip via Australia, redelivery Far East at USD 22,000 daily.