ECONOMY

Shipping Report

-Some November fixing reported in W. Africa with charterers Cssa reportedly playing an active role. Rates for US Gulf discharges at W/S 65 level while the consensus for eastbound is W/S 55. -On Suezmaxes, activity was interrupted for Nov. cargoes due pricing. However, October cargoes are still paying premium. -Aframax in the Med. still at W/S 145 while Cont. around W/S 200 with lesser activity. -In Caribs, the 70,000 tons of cargo liftings are at W/S 145-147.5. -In the Med., Sibneft for 75,000 tons of cargo, loading Oct. 23 Russia, discharging Med., has fixed M/T Venice at W/S 140 while Arcadia for 80,000 tons of cargo, loading end Oct. Syria, with same destination, has fixed M/T Westminster at same levels. -On the Continent, Petroplus, for 80,000 tons of cargo, loading Oct. 25 for UKC round voyage, has fixed at W/S 202.5. -In Caribs, BP for 70,000 tons of cargo, loading Oct. 22, discharging US Gulf, has fixed M/T Moscow Kremlin at W/S 146.5. DRY CARGO Generally the quiet tone continues, especially for Handysize and smaller. -Capers with some activity has been involved in the shipment of untreated commodities. The interest is almost on T/C periods. -There is also interest in short T/C periods on Panamaxes with delivery Atlantic. Major Koreans talking USD 6,000 for large/modern/economical types as against the same tonnage there at USD 6,500. Basis delivery Europe for 2-4 or 3-5 months trading and worldwide redelivery options. -On Capers, Cargill has fixed M/V Cic Captain Veniamins 172,000 dwt, built 2001, delivery Rotterdam Nov. 7-15 for 24-30-month period at USD 12,500 daily for the first 24 months and USD 13,500 for the balance of the period. -On Panamax in Pacific, Bunge has fixed M/V Navios Galaxy, 74,300 dwt, built 2000, delivery Oct. 25-30 Australia for 90-150 days at USD 6,150 daily for the first 45 days, USD 7,150 for the balance of the period and USD 112,000 ballast bonus. -In Atlantic, PanOcean has fixed M/V Federal Sumida 72,497 dwt, built 1998, delivery US Gulf end Oct. redelivery Far East at USD 7,300 daily and USD 135,000 ballast bonus.