ECONOMY

Shipping Report

Weaker conditions for all units with owners diminishing their fixing due to a scarcity of cargoes. – Navion in Cont. after having received eight offers for their cargo Nov. 1-3 out of Mongstad (Norway) to US Gulf, has fixed Sun Relet at W/S 97.5. – Aframax in the Med. quiet with rates around W/S 145, while Caribs for the 70,000 tons cargo liftings at W/S 155. – In the Med., Arcadia for 80,000 tons of cargo loading end Oct., Syria discharging Med., has fixed M/T Westminster at W/S 140, while Tamoil for same cargo quantity, loading end Oct. for round voyage, has fixed M/T Senang Spirit at W/S 142.5. – In the Continent, Exxon for 80,000 tons of cargo, loading Oct. 23 for UK Cont. round voyage, has fixed M/T N. Savonita at W/S 195. – In Caribs, Chevron for 70,000 tons of cargo, loading Oct. 23 East Coast Mexico, discharging US Gulf, has fixed M/T Bali Sea at W/S 150. – In W. Africa, Emerald for 130,000 tons of cargo loading Nov. 4, discharging USAC, has fixed M/T Inago at W/S 102.5, while on Suezmax, Stasco for 260,000 tons of cargo loading Nov. 8, discharging US Gulf/UKC Med., has fixed M/T Grand Lady at W/S 65/67.5 respectively. DRY CARGO A welcome respite for the Capers in both the Atlantic and Pacific with their biffex gaining another 12 points, totalling to 1,021. – Panamaxes still at same rates with US Gulf/Japan run being fixed at USD 7,000-7,500 daily and USD 120-130,000 ballast bonus. – In Far East, Cargill for 56,000 tons of grain loading Nov. 1-7, discharging Taiwan, has fixed at USD 10.20 per ton with 10,000 ton load and 4,000 tons discharge. – On Capers, NYK has fixed M/V Mineral York 169,770 dwt, built 2001, delivery Australia Oct. 20-30, redelivery Japan at USD 8,500 daily and USD 200,000 ballast bonus. – On Panamax in Far East, Luen Yick has fixed M/V Annoula 70,281 dwt, built 1997, delivery China mid-Oct., redelivery Taiwan at USD 5,750 daily. – In Atlantic, Cargill has fixed M/V Hedwig Oldendorff 73,435 dwt, built 2001, delivery Hamburg end Oct. trip via east coast South America, redelivery Skaw-Passero, at USD 6,000 daily, while Sinotrans has fixed M/V Seafarer 74,706 dwt, built 2000, delivery US Gulf Oct. 25-30, redelivery Far East, at USD 7,000 daily and USD 140,000 ballast bonus.