ECONOMY

Shipping Report

TANKERS Quieter conditions for Aframaxes in the Mediterranean, with ample supply of tonnage. – Erg has fixed M/T «Valbruna» for 80,000 tons of cargo, loading August 11 Egypt, discharging Italy, at W/S 187.5. – In the North Sea, Koch has fixed M/T «Eagle Subaru» for 90,000 tons of cargo, loading August 18, discharging US Gulf, at W/S 150, while on Suezmax Stasco for 135,000 tons of cargo, loading August 24 UK, discharging USAC, has fixed Alliance tonnage at W/S 177.5. – On Suezmaxes, North Sea is fairly active, with cross-North Sea cargoes reportedly having been fixed at W/S 150. – The Mediterranean market remains quiet, but there are still cargoes uncovered from the Black Sea with August dates. – The West Africa market is relatively quiet, with most of the cargoes with early September dates having been fixed at W/S 162.5. For the Mediterranean North Sea destinations rates are expected to slight at W/S 170. – Exxonmobil has fixed M/T «Aldawha» for 130,000 tons of cargo, loading September 1, discharging US Gulf, at W/S 162.5. – On VLCCs in Arabian Gulf, tankers have been fixed for 280,000 tons of cargo, loading August 29, discharging UKC/Mediterranean, at W/S 102.5. DRY CARGO The strong tone remains. – There are more than three Caper cargoes fronthaul with tonnage remaining very tight in the Atlantic. – The picture is similar in the Far East. – BHP has fixed M/V «Lowlands Beilun,» 170,162 dwt, built 1999, delivery China August 15-20, for Western Australian round voyage at USD 65,000 daily. – On Panamax in the Far East, Coeclerici has fixed M/V «Hephaestus,» 74,329 dwt, built 2001, delivery Phillippines August 10-15, for 4-6 months’ trading at USD 35,000 daily. – In Atlantic, Cargill has fixed M/V «Angelic Grace,» 74,700 dwt, built 2001, delivery Belgium August 13-17, for 3-5 months’ trading at USD 35,000 daily. – On smaller sizes, JKI has fixed M/V «Southern Star 1,» 36,757 dwt, built 1983, delivery Brazil beginning August, redelivery Bangladesh, at USD 21,000 daily and USD 220,000 ballast bonus. – On coal cargoes, Cargill has fixed M/V «Cape Maxim» for 150,000 tons of cargo, loading South Africa August 12-17, discharging Rotterdam, at USD 17.80 per ton with 2 days’ load and 25,000 tons discharge.