ECONOMY

Shipping Report

TANKERS Limited activity has caused rates to dip. Modern Aframax tonnage is being talked at W/S 180 for cross-Mediterranean voyages. – Petraco has fixed M/T «Merbabu» for 80,000 tons of cargo, loading August 14, discharging Med., at W/S 180, while Shell for same cargo, loading August 15, discharging Atlantic, has fixed M/T «Pac. Sapphire» at W/S 190. – In the North Sea, the market was finally tested with owners having agreed at W/S 147.5 for cross-North Sea cargo. – Murphy has fixed M/T «Astro Sirius» for 80,000 tons of cargo, loading August 12-14, for UK round-voyage at W/S 147.5 while Clearlake, for same cargo, loading August 14, discharging UKC, has fixed M/T «Lundqvist» at W/S 150. – In Caribs, Citgo for 70,000 tons of cargo, loading August 8 East Coast Mexico, discharging US Gulf, has fixed M/T «Corcovado» at W/S 182.5. – On Suezmax, Chevtex for 135,000 tons of cargo, loading August 20, discharging Med., has fixed M/T «Fr. Melody» at W/S 227.5. – In West Africa, ENI has fixed M/T «Kuzbass» for 130,000 tons of cargo, loading August 26, discharging Italy, at W/S 177.5. – On VLCCs in Arabian Gulf, Stasco has fixed M/T «Iran Damavand» for 260,000 tons of cargo, loading August 27, discharging Philippines, at W/S 135. DRY CARGO Capesize tonnage remains very tight for August dates in both Atlantic and Pacific. Rates have risen significantly in the East with charterers forced to pay premium rates even for old tonnage. – Hanjin has fixed M/V «Boss,» 139,816 dwt, built 1985, delivery Philippines, trip via Australia, redelivery South Korea, at USD 53,000 daily. – In Atlantic, MOL Navix has fixed M/V «Silver Clipper,» 149,320 dwt, built 1993, delivery end-August Portugal, for round-voyage at USD 65,000 daily. – Panamax owners are sitting tight with the prospect of firmer rates in both Atlantic and Pacific. – Atlantic rates have risen steadily mainly on the back of mineral trading but also on increased activity from grain houses. – In Far East, Cargill has fixed M/V «Angelic Peace,» 74,764 dwt, built 2001, delivery Taiwan August 2-8, for 4-6 months’ trading at USD 34,000 daily. – In Atlantic, BHP Billiton has fixed M/V «Ascanius,» 76,828 dwt, built 2004, delivery Italy August 2-4, for 5-7 months’ trading at USD 35,000 daily. – On smaller sizes, Setaf has fixed M/V «Hugo Oldendorff,» 44,144 dwt, built 1998, delivery USAC mid-August, trip via W. Africa, redelivery Pakistan, at USD 27,500 daily.