ECONOMY

Shipping Report

TANKERS Caribs continue to strengthen with latest fixtures at W/S 160, while Med. appears stable with modern Aframaxes being fixed at W/S 115-117.5. – Cont. is weakening due to a lack of fresh inquiry. The 80,000-ton round-trip voyages are being fixed at between W/S 120-125. Exxonmobil has fixed M/T «Stena Natal» loading June 29 N. Sea, discharging UKC, at W/S 125. – W. Africa remains busy on VLCCs. Alpine has fixed M/T «Front Commander» loading July 20, discharging East Coast at W/S 35, while CSSA with loading July 18, discharging UKCM, has fixed M/T «Front Sabang» at W/S 42.5. – In the Med., Veba for 80,000 tons of cargo loading July 8 Libya, discharging UKC/Med., has fixed M/T «Scorpius» at W/S 117.5. – In the Cont., TTMI for 80,000 tons of cargo loading July 10 Belgium, discharging US Gulf, has fixed M/T «Lynncraig» at W/S 100. – In Caribs, Valero has fixed M/T «Moscow Kremlin» for 70,000 tons of cargo, loading June 27, discharging US Gulf, at W/S 130. DRY CARGO Another quiet day for the Capers market with the only reported fixture that of M/V «Alina» by AEP for 150,000 tons of ore loading S. Africa July 20-30, discharging Spain, at USD 5.60 per ton with a 2-day load and 25,000 tons discharge. – Little positive news for Panamaxes in the Atlantic, with Worthington having fixed M/V «K. Fortune» 70,000 dwt, built 1995, delivery July 10-20 Brazil, discharging Gibraltar-Skaw, at USD 6,400 daily and USD 115,000 ballast bonus. – In the East, Hanjin has fixed M/V «New Irene» 72,940 dwt, built 1997, delivery July 1-10, Japan trip via Nopac, redelivery Taiwan, at USD 7,700 daily. – Handies in Europe are in short supply, with numerous operators seeking tonnage for short periods. And are now quoting July dates for stems originally marked down for end June. – On Panamaxes in the Pacific, Noble has fixed M/V «Doric Herald» 73,350 dwt, built 1995, delivery East Coast, India July 1-10, redelivery Far East, at USD 8,000 daily. – In Atlantic, Armada has fixed M/V «Sea Bird» 63,868 dwt, built 1984, delivery Brazil end June, redelivery Poland at USD 5,250 daily and USD 75,000 ballast bonus. – On grain cargoes, Toepfer for 25,000 tons of cargo loading end June Romania, discharging Tunisia, has fixed USD 13.40 per ton with 4,000-ton load and 2,000 tons discharge.k