ECONOMY

Shipping Report

TANKERS Mediterranean appears more active, with a number of cargoes out of Black Sea. However, rates are still at W/S 130 irrespective of cross-Mediterranean or ex- Black Sea cargoes. – North Sea remains quiet, with the 100,000-ton cargoes out of Primorsk at W/S 130-132.5. – Quiet conditions for the 70,000-ton cargoes in Caribs too. – Mediterranean on Suezmaxes seems busier, especially for the prompt lifting cargoes which are getting a premium and are fixed above W/S 150. – Alpine, for 135,000 tons of cargo, loading July 7 Novorossiysk, discharging Mediterranean, has fixed M/T «Majestic» at W/S 170, while Sinochem, for same cargo, has fixed M/T «Minerva Symphony» at same levels. – West Africa has marginally fresh inquiry. Rates are expected to slip from the previous ones. Present rates at W/S 130 with destination USAC. – VLCCs out of the same area are fixed at W/S 62.5 with destination US Gulf. – An active market out of Arabian Gulf with a number of fixtures at the low level of W/S 50 for both east and west destinations. – Zhenrong has fixed M/T «Hebei Spirit» for 260,000 tons of cargo, loading July 13, discharging China, at W/S 50. – In the Mediterranean and on Aframax, Petrobras has fixed Tehnamaris tonnage for 80,000 tons of cargo, loading June 29 Algeria, discharging Brazil, at W/S 185. DRY CARGO Atlantic market seems busier for capers with rumors that Tubaro/Beilun cargoes are paid above USD 20.00 per ton, while brokers have mentioned that an 170,000-tonner has secured USD 45,000 daily for a trip to the East. – In the East, Transfield has fixed M/V «Setsuyo Star,» 170,808 dwt, built 1985, delivery end-June China, trip via Australia, at USD 20,750 daily. – On Panamaxes, the emphasis is focused on the South American market. Rates remain weak, with round-trip voyages continuing to hover around the low USD 20,000s daily. – In the Far East, rates remain weak, with Pan Ocean having fixed M/V «Armia Krajowa,» 73,505 dwt, built 1991, delivery South Korea July 2-3, trip via Nopac, redelivery Far East, at USD 13,500 daily. – In the Atlantic, Baumarine has fixed M/V «Dione,» 75,172 dwt, built 2001, delivery Italy end June, trip via Kamsar, redelivery Germany, at USD 20,500 daily.