ECONOMY

Shipping Report

TANKERS Market continues to firm in the Med. and Black Sea, with rates at W/S 142.5, while delays in discharging ports such as in Trieste have a positive effect on the market. – Cont. remains quiet with fewer inquiries, while the 100,000 tons out of Baltic are fixed at W/S 130. – The picture is similar in Caribs, with the 70,000 tons cargo liftings at W/S 161.25. – Suezmaxes in the Med. with loading dates are commanding the rates. Premiums are paid for prompt loadings, while in W.Africa rates have dropped to W/S 115 for the normal run to USAC. – Arabian Gulf with little activity, with rates ABT W/S 100 for short EAst / West. – VLCCs are more active, with a number of cargoes out of Arabian Gulf, while W. Africa/US Gulf run is fixed at W/S 70. – In the Med. and on Aframax, Samir has fixed M/T «Gaetano D’Alesio» for 80,000 tons of cargo loading July 6 Egypt discharging Morocco at W/S 130. – In the Cont., Shell has fixed M/T «Natura» for 80,000 tons of cargo loading June 29 W. Coast Norway discharging UKC at W/S 140. – In Caribs, Petrobras for 70,000 tons of cargo loading June 29 discharging US GUlf has fixed M/T «Genmar Strength» at W/S 167.5. – In W.Africa, Sun has fixed M/T «Astro Phoenix» for 130,000 tons of cargo loading July 20 discharging USAC at W/S 117.5. DRY CARGO The Capers market has reacted in almost a repeat of last year. The surplus of tonnage was absorbed by a number of cargoes seeing rates sharply rising. – Panocean has fixed M/V «Bulk Australia» 170,578 dwt, built 2002, delivery Passero July 5-7 for a trip via Brazil to the East at USD 45,000 daily. – In the East, BHP Billiton has fixed 3 vessels; one of these is M/V «Alpha Era» 170,387 dwt, built 2000, delivery China and for an Australian round at USD 27,500 daily. – There is good reaction for Panamaxes too, especially from the S. American coast on the Atlantic. NCS has fixed M/V «Hamburg Max» 73,498 dwt, built 1998, delivery July 5-9 Argentine redelivery Malaisia at USD 27,000 daily and USD 650,000 ballast bonus. – On smaller sizes, Noble has fixed M/V «Voc Daisy» 47,185 dwt, built 1998, delivery Pakistan June 25-30 trip via India redelivery Singapore – Japan at USD 12,000 daily.