ECONOMY

Shipping Report

TANKERS – Even firmer conditions for VLCCs, with Petron having fixed M/T «Almare» for 255,000 tons of cargo August 9 discharging Philippines at W/S 165, while Chevtex with destination US Gulf-USWC has fixed tanker tonnage for 280,000 tons of cargo, loading August, 25 at W/S 120-130 respectively. – The market is similar for Suezmaxes in the area. The latest fixtures are at W/S 147.5 with destination East. – In West Africa, rates for Suezmaxes are firmer and around W/S 160, while third-decade availability is considered thin in the area. – There is little activity in the North Sea, with transatlantic rates in the mid – W/S 150s. – Med. rates are about W/S 160 and expected to increase due to activity out of Black Sea. – Aframax in the Med. is quieter, with the latest fixtures around W/S 195 for cross-Med. cargoes. – The market is similar for Aframaxes in Caribs, with Petrobras having fixed M/T «Jag Lata» for 70,000 tons of cargo, loading July 28, discharging USAC, at W/S 185. – There is much activity out of the Baltic Sea. Rates are hovering around W/S 155 for 100,000 tons of cargo. Petroval has fixed M/T «A. Freedom» for 100,000 tons of cargo, loading August 6, discharging UKC, at W/S 152.5. – In West Africa, Chevtex has fixed M/T «Cape Bata» for 130,000 tons of cargo, loading August 25, discharging USWC, at W/S 175. DRY CARGO Another quiet day with lesser cargoes and obviously fixtures. – All indices have moved downward, with Baltic having lost 41 points on Monday totaling 3,930. – Bulkcarriers and Panamaxes indices have moved downward too, having lost 41 and 57, totaling 5,255 and 3,763 respectively. – On Capers, NCS has fixed M/V «Cape Kennedy,» 170,726 dwt, built 2001, delivery Korea July 20-25, trip via Western Australia, redelivery China, at USD 51,500 daily. – On Panamax in Far East, Uniwell has fixed M/V «Prabhu Parvatt,» 56,060 dwt, built 2003, delivery East Coast India end-July – beg. August, redelivery China, at USD 34,000 daily. – In Atlantic, Medmar has fixed M/V «Rodon Amarandon,» 74,090 dwt, built 2001, delivery end-July, for UKC round voyage at USD 30,000 daily.