ECONOMY

Shipping Report

TANKERS Firmer conditions on VLCCs out of Arabian Gulf, with rates hovering around W/S 150 for the cargoes with destination East. – On Suezmaxes out of the same area, API has fixed M/T «Discovery» for 130,000 tons of cargo, loading August 3, discharging Italy, at W/S 145. – Firmer rates on this type of vessels from North Sea too. Latest fixtures with destination Caribs at W/S 150. – Med. market remains relatively quiet with a number of charterers still awaiting Black Sea loading dates. – West Africa very active for the first 10 days of August, with rates increasing to W/S 150 with destination US Gulf and W/S 162.5 with destination East. – On VLCCs out of the same area CPC has fixed M/T «Flandre» for 260,000 tons of cargo, loading August 22, discharging Taiwan, at W/S 112.5 while China Oil for same cargo, loading August 13, discharging China, has fixed M/T «Astro Chorus» at same levels. – Aframax market stable in the Med. and in the North Sea, firmer with more cargoes and thin supply. – ENI has fixed M/T «Katja» for 80,000 tons of cargo, loading July 29, discharging Med., at W/S 215. – In the Cont., BP has fixed M/T «Mayon Spirit» for 80,000 tons of cargo, loading end-July, discharging Atlantic, at W/S 185, while same charterers have fixed M/T «Juanita,» loading July 29, discharging UKC, at W/S 160. DRY CARGO Owners of Panamaxes confident that market will firm while gains of previous weeks are thinning out. – In the Atlantic, round-voyages are fixed around USD 30,000 daily with mid-thirties with destination East. – Armada has fixed M/V «Polska Walczaca,» 73,505 dwt, built 1992, delivery end-July UK, discharging UKC, at USD 28,500 daily, while ETA Dubai has fixed M/V «Bunga Saga Enam,» 73,056 dwt, built 1998, delivery Italy end-July, redelivery India, at USD 35,000 daily. – Quieter conditions in the East, with NYK having fixed M/V «Fu Zhou Hai,» 69,967 dwt, built 1995, delivery China end-July, redelivery Japan, at USD 35,750 daily, while M/V «Anastassia C,» 73,000 dwt, built 2001, delivery China July 18-25, redelivery UKC-Med. was fixed at USD 29,000 daily. – Steady conditions on Capers, with interest on behalf of charterers in short T/C periods. Swiss Marine has fixed M/V «Sanko Oasis,» 161,192 dwt, built 1995, delivery SKAW August 10-15, for 5-7 months’ trading at USD 59,500 daily. – On smaller sizes, Clipper has fixed M/V «Aztlan,» 45,622 dwt, built 1996, delivery US Gulf, trip via Venezuela, redelivery Chile, at USD 27,500 daily.