Shipping Report

TANKERS Market in the Mediterranean remains soft, with very little inquiry. Charterers appear to have achieved levels of W/S 110 for cross-Mediterranean Aframax cargoes. – Business out of Black Sea are hovering around W/S 120. – The Suezmax market seems more active in the same area, although levels are still under W/S 100. – Erg has fixed M/T «Hrvatska» for 130,000 tons of cargo, loading August 4 Egypt, discharging Italy, at W/S 97.5, while Clearlake, for 135,000 tons of cargo, loading August 1 Russia, discharging UKC-Mediterranean, has fixed M/T «Georgios S» at W/S 101.5. – In the North Sea the 80,000-ton cargoes are fixed around W/S 120, while on Suezmaxes NBAvion has fixed M/T «Iran Susangird» for 135,000 tons of cargo, loading August 7 West Coast Norway, discharging Mediterranean, at W/S 85. – Aframaxes in Caribs are at W/S 200 for the 70,000-ton cargo liftings, while on smaller sizes Valero has fixed Heidmar tonnage for 50,000 tons of cargo, loading July 23 N. Antilles, discharging US Gulf, at W/S 250. – Suezmaxes out of West Africa are more active, with at least eight outstanding cargoes for the third week of August. Rates are expected to move toward W/S 120. – On VLCCs out of Arabian Gulf, Zhenrong has fixed M/T «Front Duke» for 270,000 tons of cargo, loading August 13, discharging China, at W/S 105, while CPC has fixed M/T «Orient Jewel» for 260,000 tons of cargo, loading August 4, discharging Taiwan, at W/S 102.5. DRY CARGO Capesize rates in the East have eased again, but at least some of the ships under pressure are now out of the market. – Panamax tonnage in the East largely failed to fulfill the mild optimism of the previous days. Rates are again weak, with charterers talking even lower rates for the normal nopac rounds. – In the Atlantic, rates failed again, with some early ships remain under pressure. – In Far East, Pan Ocean has fixed M/V «Asteriks,» 76,600 dwt, built 2005, delivery South Korea, trip via Australia, redelivery Persian Gulf, at USD 10,250 daily. – In the Atlantic, Bunge has fixed M/V «Shen Nong Feng,» 74,000 dwt, built 2002, delivery Amsterdam, for 1-2 legs at USD 14,000 daily. – On smaller sizes, Atlas has fixed M/V «Sanko Rejoice,» 42,529 dwt, built 1994, delivery US Gulf end July, redelivery UKC, at USD 18,000 daily.

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