ECONOMY

Shipping Report

TANKERS Firmer conditions still on VLCCs out of Arabian Gulf, with S. Oil having fixed M/T «Ikomosan» for 275,000 tons of cargo, loading August 15, discharging South Korea, at W/S 145. – Suezmaxes are in good demand too, with Hyundai having fixed M/T «Front Lillo» for 135,000 tons of cargo, loading August 6, discharging South Korea, at W/S 180. – In the Mediterranean the market is also firm, with rates above W/S 160 for Novo as well as Med. loadings. – In West Africa, Sun has fixed M/T «Genmar Phoenix» for 130,000 tons of cargo, loading August 18, discharging USAC, at W/S 157.5, while Enap has fixed M/T «Calm Sea,» loading August 19, discharging Chile, at W/S 185. – Quieter conditions in Aframaxes in the Mediterranean, with rates hovering around W/S 190. – In Caribs, there are a number of new fixtures, with the 70,000-ton cargo liftings being fixed at W/S 185. – Valero has fixed M/T «Eagle Atlanta,» loading August 25 East Coast Mexico, discharging US Gulf, at W/S 185, while Stusco, loading July 31 with same destination, has fixed M/T «Tamara» at same levels. – In the North Sea, Lukoil for 100,000 tons of cargo, loading August 7, discharging UKC, has fixed M/T «Aegean Legend» at W/S 157.5, while Petroval, loading August 5 with same destination, has fixed M/T «Aegean Freedom» at W/S 152.5. – In Arabian Gulf and in Suezmaxes, Shell for 135,000 tons of cargo, loading August 10, discharging UKC/Med., has fixed M/T «Allan» at W/S 152.5. DRY CARGO Quieter conditions, with Capesize charterers in the Atlantic trying to lower rates and avoiding quoting cargoes in the Mediterranean. – Similar conditions for Panamaxes in both areas. – On capers, Korea line has fixed M/V «Xinyuan Hai,» 186,876 dwt, built 1988, delivery Rotterdam August 9-11, for 4-6 month period at USD 60,000 daily. – On Panamax in the Far East, Shadab has fixed M/V «Gianfranca d’Amato,» 74,710 dwt, built 2000, delivery July 25-27 China, trip via Australia, at USD 28,000 daily. – In Atlantic, NNC has fixed M/V «Sd Nova,» 70,108 dwt, built 1996, delivery US Gulf end-July, redelivery Egypt, at USD 26,500 daily and USD 500,000 ballast bonus. – On smaller sizes, ED&F Man has fixed M/V «Zenovia,» 43,595 dwt, built 1992, delivery end-July Mexico, trip via US Gulf, redelivery Morocco, at USD 22,000 daily.