ECONOMY

Shipping Report

TANKERS Quiet conditions in the Mediterranean in a market not actually tested. The latest 80,000-ton cargoes have been fixed at W/S 135. – The picture is similar in the North Sea with the fixtures for 100,000-ton cargoes out of Primorsk hovering around W/S 135. – In Caribs, the latest fixtures for 70,000-ton cargo liftings are at about W/S 180. – Quiet conditions for Suezmaxes in all areas. – In the Mediterranean, Lukoil, for 135,000 tons of cargo, loading July 8 Black Sea, discharging UKC-Mediterranean, has fixed Thenamaris tonnage at W/S 150. – In West Africa, Sun has fixed M/T «African Spirit» for 130,000 tons of cargo, loading July 13, discharging USAC, at W/S 132.5. – VLCC cargoes out of Arabian Gulf are as low as W/S 50 with destinations East, while out of West Africa with destination US Gulf the latest fixtures are at W/S 70. – In the Mediterranean and on Aframaxes, Saras has fixed M/T «Astro Saturn» for 80,000 tons of cargo, loading beg. July Egypt, discharging Mediterranean, at W/S 135. – In the Continent, Stasco, for 80,000 tons of cargo, loading June 29 Baltic, discharging UKC, has fixed M/T «Livia» at W/S 140. – In Caribs, Petrobras, for 70,000 tons of cargo, loading June 23, discharging US Gulf, has fixed M/T «Conquistador» at W/S 195. – In Arabian Gulf, Shell, for 270,000 tons of cargo, loading July 9, discharging South Africa, has fixed M/T «Asian Progress II» at W/S 52.5. DRY CARGO Very little fixtures have been reported for capesize tonnage, although rates have dropped sharply after an older tonnage fixture in the east. – Worldlink has fixed M/V «Jimrich,» 132,086 dwt, built 1982, delivery China, for an Australian round trip at USD 14,000 daily. – More inquiry for Panamaxes in the Atlantic but there still seems enough tonnage for charterers to choose from. – Cargill has fixed M/V «Iron Man,» 72,861 dwt, built 1997, delivery end June Argentina, redelivery Far East, at USD 26,000 daily and USD 600,000 ballast bonus. – In the Far East, the same charters have fixed M/V «Libra II,» 70,135 dwt, built 1995, delivery Japan, for a Nopac round trip at USD 15,500 daily. – On smaller sizes, IVS has fixed M/V «Gold River,» 32,973 dwt, built 1999, delivery South Africa June 25-30, redelivery US Gulf / UKC-Mediterranean, at USD 16,500 daily.