ECONOMY

Shipping Report

TANKERS The Mediterranean is an inactive area with reports circulating that market is W/S 150 for the cross 80,000-ton cargoes. – The Continental market is quiet, too, with BP having fixed two vessels, M/T «Bravery» and M/T «Gerrita,» loading North Sea July 5, discharging UKC, at W/S 125 and W/S 120 respectively. – The Caribbean is quiet with no fixtures reported. – Suezmaxes out of West Africa have fewer stems while rates are at about W/S 115 for transatlantic voyages. – The Mediterranean is looking for a new settling level, while in the Arabian Gulf the interest for fixing is very limited. – Lower rates for VLCCs also out of Arabian Gulf. Exxonmobil has fixed M/T «Universal Peace» for 280,000 tons of cargo, loading July 21, discharging US Gulf, at W/S 57.5, while M/T «Maritime Jewel,» for 285,000 tons of cargo, loading July 20, with same destination, was fixed at W/S 60. – In the Mediterranean and on Aframax, Clearlake has fixed M/T «Stavanger Bay» for 80,000 tons of cargo, loading July 13, Black Sea, discharging Mediterranean, at W/S 155. – In West Africa, Hess has fixed M/T «Genmar Honour» for 130,000 tons of cargo, loading July 26, discharging Caribbean, at W/S 115. DRY CARGO Capers still at low levels with owners in Atlantic appearing reluctant to send vessel to the East. – Cargill in Atlantic has fixed M/V «Cape Jupiter,» 175,480 dwt, built 1987, delivery July 8-12 Passero, trip via Colombia, redelivery UKC, at USD 31,000 daily, as well as M/V «China Steel Responsibility,» 175,775 dwt, built 2003, delivery beg. July, for same trip, at USD 32,000 daily. – In Far East, Glory Wealth has fixed M/V «Southern Wisdom,» 177,325 dwt, built 2004, delivery China, for an Australian round at USD 29,000 daily. – On Panamaxes in Atlantic, Glencore has fixed M/V «Francesco,» 66,042 dwt, built 1983, delivery Rotterdam, redelivery Middle East, at USD 23,000 daily. – On smaller sizes, Western Bulkcarriers has fixed M/V «K. Topaz,» 43,774 dwt, built 1996, delivery end June Norway, redelivery Atlantic, at USD 15,000 daily.