ECONOMY

Shipping Report

TANKERS Med. rates still weak; only some news of business has been discussed. The last fixtures for 80,000-ton cargoes are hovering around W/S 150. – Koch has fixed M/T «E. Subaru,» loading Aug. 18-20 Med., discharging UKC, at W/S 150; Tupras, loading Egypt Aug. 20, discharging Med., has fixed M/T «Sea Loyalty» at W/S 155. – N. Sea still quiet, with only the Baltic beginning to move second-decade cargoes. – J&S has fixed M/T «Aegean Freedom» for 100,000 tons of cargo, loading Aug. 18 Poland, discharging UKC, at W/S 132.5, while Europet has fixed M/T «Aegean Pride,» loading Aug. 16, with same destination, at W/S 135. – Caribs with more cargoes; rates above W/S 195 for 70,000-ton cargo liftings. – Valero has fixed M/T «Genmar Revenge,» loading Aug. 12, discharging US Gulf, at W/S 200, while Hunt has fixed Aet tonnage, loading Aug. 15, with same destination, at W/S 197.5. – Suezmaxes with little activity in N. Sea, while rates are drifting softer in the Med. – In W. Africa, rates are settling around W/S 160 for US Gulf, while VLCCs out of the same area, due to a lack activity, are being fixed at W/S 125 for US destinations. – In Arabian Gulf, the Suezmax market still firm, with China Oil having fixed M/T «Aegean Angel» for 130,000 tons of cargo, loading Aug. 21, discharging China, at W/S 205, while CPC on VLCCs for 250,000 tons of cargo, loading Aug. 26, discharging Taiwan, has fixed M/T «Episkopi» at W/S 117. DRY CARGO Capesize market in the Atlantic is continuing to give encouragement to owners, although actual activity has been relatively thin. – The «Andros Warrior» is said to be closely working a trip delivery Hamburg via Brazil to China at about USD 75,000 daily. – In the East, Cosbulk has fixed M/V «Mercedes,» 133,000 dwt, built 1981, delivery China Aug. 8-12, for an Australian round-trip voyage, at USD 45,000 daily. On Panamaxes opinions differ; owners of prompt date tonnage not finding it easy to fix their vessels. – Grain houses have on their books a number of vessels for programmed cargoes. – On Panamaxes in Far East, China Steel has fixed M/V «Mishima,» 76,598 dwt, built 2002, delivery beg. Aug., trip via Australia, redelivery China, at USD 32,000 daily. – In Atlantic, Sinochart has fixed M/V «Star of Nippon,» 75,611 dwt, built 2004, delivery Italy Aug. 13-15, for 5-7 months’ trading at USD 35,500 daily.