ECONOMY

Shipping Report

TANKERS Another active day in the Med., with the 80,000-ton cargoes being fixed at W/S 185. – In the N. Sea, similar-sized cargoes are being fixed at W/S 137.5-140, while 100,000-ton cargoes out of Primorsk are being fixed at W/S 135. – The Caribs market, having gained W/S 40-50 points, now is trading 70,000-ton cargoes at W/S 205, while the 50,000-ton cargoes are being fixed at W/S 290. – Suezmax trading remains quiet in all areas. – In the Med., the 135,000-ton cargoes are being fixed at W/S 110-115, while in the N. Sea, the 135,000-ton cargoes, loading Baltic, discharging US Gulf, are fixed at W/S 132.5. – W. Africa with no fresh inquiry, with rates starting to soften. Latest fixtures for 130,000-ton cargoes with destination USAC at W/S 140. – VLCCs quite active, with many cargoes, especially out of W. Africa, with US Gulf and Far East destinations. – Conoco has fixed M/T «Amantea» for 260,000 tons of cargo, loading July 6, discharging US Gulf – East Coast Canada, at W/S 90 – W/S 95 respectively, while Sinochem for same cargo, loading July 2, discharging China, has fixed M/T «Bourgogne» at W/S 75. – In Arabian Gulf, Shell has fixed M/T «Utik» for 280,000 tons of cargo, loading July 2, discharging UKC, at W/S 55. – On Aframaxes in the Med., BP for 80,000-ton cargo, loading June 10 Syria, discharging Med., has fixed M/T «Navion Basker» at W/S 180. – In the Cont., Conoco has fixed M/T «Geritta» for 80,000 tons of cargo, loading June 17 N. Sea, discharging UKC, at W/S 137.5. DRY CARGO Another quiet day, with little fresh news to be reported. – On Capers and in the Far East, M/V «Papa,» 139,779 dwt, built 1984, was fixed for delivery China and for a Brazilian round-trip at USD 20,000 daily. – The picture is similar for Panamaxes. The Atlantic generally looks easier. On older types, M/V «Syros,» 63,000 dwt, built 1981, was fixed for a round-trip voyage via S. Ameica at USD 22,500 daily. – Handy/Handymaxes seem to have more business being concluded from US Gulf / W. Coast America to various destinations, although activity seems to be centered on the smaller Handysize vessels. – Rice Co. was rumored to have booked the 1978-built, 29,000-dwt M/V «Winter» to lift a US Gulf / Tarragona grain cargo at under USD 37. – On Panamax in Far East, Dreyfus has fixed M/V «Miden Max,» 74,696 dwt, built 1993, delivery June 10-12 Japan, redelivery Far East, at USD 21,000 daily.