ECONOMY

Shipping Report

TANKERS Med. with more Panamax cargoes, with rates hovering around W/S 210, while Suezmaxes out of Novo at W/S 170 and other loading areas at W/S 165. – North Sea active too, with Dreyfus having fixed M/T «Elizab Knutsen» for 80,000 tons of cargo, loading beg.-August, discharging UKC, at W/S 165. – Caribs steady with limited inquiry. Shell has fixed M/T «British Holly» for 70,000 tons of cargo, loading July 31, discharging US Gulf, at W/S 185. – Suezmaxes in the North Sea with little activity while West Africa rates are firming with big premiums paid for difficult trades. Third-decade availability remains thin thus rates expected to improve. – Sun has fixed M/T «Wilana» for 130,000 tons of cargo, loading August 21, discharging USAC, at W/S 160. – On VLCCs out of the same area, rates for transatlantic runs at W/S 130, while those for Far East have improved to W/S 115. – VLCCs market out of Arabian Gulf remains firm. – Thai Oil has fixed M/T «Takamatsu Maru» for 255,000 tons of cargo, loading August 15, discharging Thailand, at W/S 157.5, while PTT has fixed M/T «Sylt» for 265,000 tons of cargo, loading August 18 with same destination, at W/S 152.5. DRY CARGO Capesize rates in the Atlantic remain steady while East appears steadier although a number of ballasters are heading to the Atlantic for their next employment. – On Panamaxes, a number of early ships have now been fixed for the Atlantic and brokers describe the market as quieter. – Cobelfret has fixed M/V «Adriatica Graeca,» 74,133 dwt, built 2002, for two transatlantic legs at USD 31,000 daily. – In the Pacific, Daiichi has fixed M/V «Fearless,» 73,427 dwt, built 1997, delivery Japan July 23-26, trip via East Coast Australia, at USD 30,000 daily. – In the Atlantic, Baumarine has fixed M/V «CSE Harmony Express,» 76,000 dwt, built 2002, delivery Passero end-July, for two legs at USD 31,000 daily. – On smaller sizes, WBC has fixed M/V «Luckyfield,» 45,546 dwt, built 1982, delivery US Gulf end-July, redelivery Far East, at USD 24,000 daily.