ECONOMY

Shipping Report

TANKERS Even firmer conditions for VLCCs out of the Arabian Gulf with eastern destinations. Rates around W/S 120. – Suezmaxes stable with rates in the Med. at W/S 145 and in W. Africa at W/S 110-115, depending on the destination. – In the N. Sea, BP, for 135,000 tons of cargo, has fixed Alliance Tonnage, loading Nov. 30 UK, discharging UKC, at W/S 130, while Agip for same cargo quantity, loading Dec. 5-7 N. Sea, discharging Italy, has fixed M/T «Seagrace» at W/S 105. – Aframaxes at steady levels in the Med. and Cont. with the 80,000-ton round-trip voyages being fixed at W/S 140 and W/S 170, respectively. – The Carib market is easing, with latest fixtures at W/S 190 for 70,000-ton cargo liftings. – In the Med., Tamoil for 80,000 tons of cargo, loading Nov. 28 Libya, discharging Med., has fixed M/T «Black Sea» at W/S 142.5. – In the Cont. on Suezmaxes, BP has fixed Alliance Tonnage for 135,000 tons of cargo, loading Norway Dec. 3-4, discharging Rotterdam, at W/S 125. – In Caribs, Emerald has fixed M/T «Beryl» for 70,000 tons of cargo, loading Nov. 30 Colombia, discharging USAC at W/S 190. DRY CARGO The Far East market is busier at steady levels with good demand on T/C periods. – On Capers, Armada has fixed M/V «Bulk Australia,» 170,000 dwt, delivery beg. Jan. Japan for 1/1 years trading, at USD 16,800 daily and USD 17,800. – On Panamaxes, Coeclerici has fixed M/V «Mass Merit,» 69,620 dwt, built 1993, delivery Japan end Nov. for 12 months’ trading, at USD 9,500 daily, while Bulk Pacific has fixed M/V «Bright State,» 68,676 dwt, built 1989, delivery China end Nov. for 6-8 months’ trading, at USD 9,500 daily. – In the Atlantic, Grant has fixed M/V «Annoula,» 70,281 dwt, built 1997, delivery Egypt end Nov., trip via Black Sea, redelivery USAC, at USD 7,000 daily for the first 40 days and USD 11,000 for the balance. – On grain cargoes, Conagra for 54,000 tons of cargo, loading US Gulf Dec. 1-7, discharging Taiwan, has fixed M/V «Salvatore Cafiero» at USD 23.50 per ton with 10,000-ton load and 4,000 tons’ discharge.