ECONOMY

Shipping Report

TANKERS Owners are still managing in the Med. to fix their Aframaxes in the area at rates of between W/S 180-185, while in N. Sea, rates have moved upward with 80,000-ton cargoes being fixed at W/S 160. – Stable conditions in Caribs, with rates around W/S 220 for the cross-trip 70,000-ton cargo liftings. – Suezmax rates remain quiet in all areas. – In the Med., the latest fixtures for 135,000-ton cargoes are at W/S 117.5. CSSA, for 130,000 tons of cargo, loading June 26 Egypt, discharging UKC-Med., has fixed M/T «Kaspiy» at W/S 117.5, while Saras, for 130,000 tons of cargo, loading June 20 Egypt, discharging Sarroch, has fixed M/T «Iran Sanandaj» at W/S 120. – In W. Africa, rates have been corrected on the back of fewer cargoes in the market. The 130,000-ton cargoes, from W/S 140 with destination USAC, are being fixed near W/S 115. – The picture is similar for the same-size cargoes out of Arabian Gulf, with rates around W/S 95 for most directions. – VLCCs out of W. Africa at lower levels. The latest fixtures are at W/S 85 with destination US Gulf. – Out of Arabian Gulf, Shell, for 275,000 tons of cargo, loading July 6, discharging UKC-Far East, has fixed M/T «Arosa» at W/S 55 – W/S 60, respectively, while same charterers, for 255,000-ton cargoes, loading June 27, discharging Kapan-Singapore, have fixed M/T «Starlight Venture» at W/S 52.5 – W/S 55, respectively. – In the Med. and on Aframaxes, Itochu has fixed M/T «Paula Maersk» for 80,000 tons of cargo, loading June 23 Black Sea, discharging Med., at W/S 200. – In Caribs, Ursa for 70,000 tons of cargo, loading June 18 East Coast Panama, discharging US Gulf, has fixed M/T «Chemtrans Lyra» at W/S 230. – In W. Africa, Shell, for 130,000 tons of cargo, loading June 22, discharging S. Africa, has fixed alliance tonnage at W/S 145. DRY CARGO Capesize rates keep falling but not quite as fast as they had been. – There is a report that a 150,000-dwt vessel built in 1994 has been booked for delivery Spain for a transatlantic round-trip at USD 25,000 daily. – The picture is similar for Panamaxes. It was reported that Cargill has fixed M/V «Yong Tai,» 74,061 dwt, built built 2000, delivery Belgium, for a round-trip voyage, at USD 27,000 daily but finally failed on subs. – In the Pacific, owners are doing their best to hold steady freight levels in the area. Dreyfus has fixed M/V «Vassilios,» 64,282 dwt, built 1989, delivery US N. Pacific, redelivery Singapore-Japan, at USD 17,750 daily and USD 330,000 ballast bonus. – Handy/Handymaxes are still encouraging, the interest for T/C period fixtures. Hamburg Bulkcarries has fixed M/V «Belpareil,» 52,961 dwt, built 2003, delivery China June 10-15, for 30-32 months’ trading at USD 20,000 daily.