ECONOMY

Shipping Report

TANKERS Easier conditions in the Mediterranean, with a number of Aframaxes becoming open on earlier dates. The present rates for the 80,000-tons round voyages are at W/S 205-207.5. – Petraco has fixed M/T «Akaki» for 80,000 tons of cargo, loading August 11-12, discharging Mediterranean at W/S 207.5, while BP for same cargo, loading end-July, discharging UKC-Mediterranean has fixed M/T «Iran Amol» at same levels. – Another quiet morning in the North Sea as well. Despite the limited number of cargoes out of the Baltic there is a general softening feeling in the market. Cross North Sea business are concluded at W/S 160, while out of the Baltic JNS has fixed M/T «Serenity,» loading August 7-9 Poland, discharging UKC, at W/S 147.5. – Stable conditions in Caribs, with Shell having fixed M/T «British Hawthorn» for 70,000 tons of cargo, loading August 6 Colombia, discharging Puerto Rico, at W/S 187.5. – On smaller sizes, Adam has fixed M/T «Maya» for 50,000 tons of cargo, loading July 29, discharging US West Coast, at W/S 230. – On Suezmaxes in the Mediterranean, Samir has fixed M/T «Seaprince» for 135,000 tons of cargo, loading August 15, discharging Morocco, at W/S 202.5. – In West Africa, Petrobras for 130,000 tons of cargo, loading August 16, discharging Brazil, has fixed M/T «Tromso Reliance» at W/S 180. – In Arabian Gulf and on VLCCs, IOC has fixed M/T «Al Awadah» for 277,000 tons of cargo, loading August 11, discharging India, at W/S 196. DRY CARGO There is a more optimistic tone in the market, with owners feeling that there is a good position to press rates higher. – On Capers in the Atlantic M/V «Lydia,» 141,475 dwt, built 1981, delivery UKC end July, trip via St Lawrence, redelivery Taiwan, was fixed above USD 55,000 daily. – In Far East there is a good level of inquiry, mainly due to Japanese charterers seeking tonnage. Rates are showing signs of firming slightly. A vessel of 169,146 dwt, built 1991, is said to be fixed with delivery Philippines for Australian round voyage, redelivery Japan, at USD 52,000 daily. – Same conditions for Panamaxes in the Atlantic, with new cargoes of coal as well as minerals with destination East. – China Steel has fixed M/V «Dimitris l,» 73,193 dwt, built 2001, delivery Spain July 28-29, trip via USAC, redelivery Taiwan, at USD 33,500 daily. – In the Far East, d’Amico has fixed M/V «Ruby Indah,» 77,500 dwt, built 1998, delivery Indonesia August 8-15, trip via Kalimantan, redelivery Hong Kong, at USD 30,000 daily and USD 120,000 ballast bonus.