ECONOMY

Shipping Report

TANKERS Another quiet day on the market, with some early vessels still to be covered. Levels of W/S 195 have been achieved a couple of times for prompt liftings. – BP as well as Libyans have fixed M/T «Iran Amol» and Iran tonnage at aforesaid levels. – More activity in the North Sea, with charterers beginning to move their cargoes with loading dates Aug. 15-20 out of the Baltic. The 100,000-ton cargoes are fixed at W/S 150, while the round voyages are stable at W/S 157.5. – CSSA has fixed M/T «Evita,» loading North Sea Aug. 9-10, discharging UKC, at W/S 157.5, while M/T «A. Pride,» loading Aug. 6 with same destination, was fixed at same levels. – Valero out of Primorsk has fixed M/T «Kyeema SP» for 100,000 tons of cargo, loading Aug. 10-11, at W/S 180. – In Caribs, BP for 70,000 tons of cargo, loading Aug. 7, discharging US Gulf, has fixed M/T «Genmar Agamemnon» at W/S 190, while Westport has fixed Lyondell tonnage, loading Aug. 1 Venezuela, same destination, at W/S 192.5. – On smaller sizes, Shell has fixed M/T «Kyriakoula» for 50,000 tons of cargo, loading Aug. 8, discharging US West Coast, at W/S 225. – Suezmaxes rates out of West Africa are at mid W/S 170s, while tonnage is in short supply till early September. Hess for 130,000 tons of cargo, loading Aug. 30, discharging Caribs, has fixed M/T «Genmar Macedon» at W/S 177.5. – VLCC rates out of the same area are at W/S 135 for transatlantic voyages. – In the Arabian Gulf, Tupras has fixed M/T «Sala» for 275,000 tons of cargo, loading Aug. 21 Iran, discharging Red Sea, at W/S 147.5. DRY CARGO Capesize rates in the Atlantic remain firm, with owners hoping that would be able to push the front-haul rates up to USD 85,000 daily. – On T/C periods, Chinese have fixed a 175,000 dwt unit for 2 years’ trading at USD 42,500 daily. – On Panamaxes, Atlantic seems at least steady and possibly firming in some areas. Owners are taking encouragement from the fact that in addition to the usual supply of mineral stems there are also some grain business quoted out of S. America. – In the Far East, M/V «Seafarer,» 75,706 dwt, built 2000, was fixed by Coeclerici, delivery Hong Kong end August, for 5-7 month period at USD 32,000 daily. – In the Atlantic, Transgrain has fixed M/V «Halo Cygnus,» 73,900 dwt, built 1998, delivery Spain end-July, trip via East Coast S. America, at USD 32,750 daily. – On smaller sizes, M/V «Nicholas,» 40,016 dwt, built 1986, delivery end-July China, redelivery Muscat, was fixed at USD 21,000 daily.