ECONOMY

Shipping Report

TANKERS Firm conditions in the Med. with Repsol having fixed M/T «Iran Amol» at W/S 115, while rates are heading toward W/S 120. – Stable market in N. Sea with a number of fixtures at W/S 105, while Caribs are weakening with 2-3 fixtures at W/S 155 for the 70,000-ton cargo liftings. – W. Africa market still firm for early July loadings. Stasco has fixed M/T «Marina M» for 130,000 tons of cargo loading June 30, discharging US Gulf / UKCM at W/S 85 / 82.5 respectively. – In the Med., Karran, for 80,000 tons of cargo, loading June 23, discharging Med., has fixed M/T «Nilos» at W/S 95. – In the Cont., Koch has fixed Lundqvist tonnage for 80,000 tons of cargo, loading June 13 UK, discharging UKC at W/S 105. – In Caribs, Petrobras, for 70,000 tons of cargo, loading June 15, discharging USG-AC, has fixed M/T «Genmar Trust» at W/S 157.5. – In W. Africa, Petrogal has fixed M/T «Histria Crown» for 130,000 tons of cargo, loading July 3, discharging Portugal at W/S 78.5. DRY CARGO Capers market remains bleak in both the East and West. Swiss Marine’s fixture of the 2001-built «Bulk Asia» for a 160,000 stem from Richards Bay to Rotterdam at USD 5.50 per ton and mid-July dates knocks another 10 cents off the last one. – Disappointing also is the Noble fixture of M/V «Mineral Ordaz» for a Dampier to Beilun cargo at USD 3.80 per ton. – Panamaxes are also continuing weakly with a downward trend in the Atlantic. Pan Ocean has fixed M/V «Amadeus» 66,916 dwt, built 1984, delivery Victoria June 20-30, redelivery S. Korea, at USD 7,300 daily and USD 130,000 ballast bonus. – In the East, Nasl has fixed M/V «North Emperor,» 68,308 dwt, built 1987, delivery end June, Nopac, redelivery Far East at USD 6,500 daily and USD 120,000 ballast bonus. – In the Far East, Noble has fixed M/V «Jupiter Applause,» 69,123 dwt, built 1997, delivery Australia June 20-30, redelivery Bin Qasim, at USD 6,200 daily and USD 90,000 ballast bonus. – In the Atlantic, Seaboard has fixed M/V «Ledra» 61,981 dwt, built 1980, delivery June 25-30, Argentina, redelivery S. Africa, at USD 6,000 daily and USD 110,000 ballast bonus. – For smaller sizes, Bulk Shipping has fixed M/V «Golden Duke,» 28,700 dwt, built 1995, delivery Australia June 12-19, redelivery East Med., at USD 7,400 daily. – On grain cargoes, Hanjin, for 54,000 tons of cargo, loading US Gulf July 1-13, discharging Japan, has fixed at USD 18.25 per ton with 11 days all purposes.