ECONOMY

Shipping Report

TANKERS The Mediterranean market seems to be going sideways with the start of the week. – Cross-Mediterranean Aframax cargoes are fixed at W/S 150, while out of Black Sea they are at W/S 160. – North Sea activity remains low for July dates, while the market continues to be driven by Baltic cargoes. – The 80,000-ton as well as 100,000-ton cargoes out of the Baltic are fixed at W/S 130. – Quiet conditions reign in Caribs too, with Citgo having fixed M/T «German Champ» for 70,000 tons of cargo, loading July 3, discharging US Gulf, at W/S 165. – The Mediterranean market on Suezmax is quiet, looking for new settling level. – West Africa shows very little fresh activity, while the 130,000-ton cargoes with destination USAC were fixed at W/S 115. – VLCCs out of the same area have moved up to W/S 72.5 and W/S 60 for west and east destinations respectively. – In the Mediterranean and on Aframaxes, OMV, for 80,000 tons of cargo, loading July 2 Egypt, discharging Italy, has fixed M/T «Corcavado» at W/S 130. – On Suezmax, Hellenic, for 135,000 tons of cargo, loading July 17 Egypt, discharging Mediterranean, has fixed M/T «Navarino» at W/S 112.5. – In the Cont., Cargill has fixed M/T «Avor» for 80,000 tons of cargo, loading July 6, discharging US Gulf, at W/S 170. – In West Africa, Enap, for 130,000 tons of cargo, loading July 6, discharging Chile, has fixed M/T «Angelica» at W/S 180. – In the Arabian Gulf, CSSA, for 285,000 tons of cargo, loading July 25, discharging UKC-Mediterranean, has fixed M/T «Shinyo Lanes» at W/S 60. DRY CARGO Very little fresh activity has been reported on Capers at the start of the week. – On Panamaxes, freight rates have stalled in the Atlantic, with signs that the steam has gone out of the market. – In the Atlantic, the fixture of M/V «Hamburg Max,» 73,498 dwt, built 1998, delivery Argentina, redelivery Far East, at USD 27,000 daily and USD 650,000 ballast was not confirmed. – In the Far East, Cargill has fixed M/V «Golden Dena,» 74,759 dwt, built 2005, delivery South Korea end June, redelivery Far East, at USD 14,250 daily. – On smaller sizes, Everdear has fixed M/V «Yick Wing,» 42,493 dwt, built 1982, delivery end-June US Gulf, redelivery Eastern Mediterranean, at USD 22,500 daily.