ECONOMY

Shipping Report

Market extremely quiet with VLCCs ready to fix out of Arabian Gulf with destination Far East at less than W/S 60. -W. Africa on Suezmax with minor inquiry while in Cont. Navion for 135,000 tons of cargo Mongstad/Sarroch loading November 4-6 has ideas at W/S 80-85. -Aframaxes in the Med. at W/S 140-145 with most having fixed Iranian tonnage Banias Nov. 4-6 to Venice at W/S 140. -Cont. for prompt 80,000 tons of cargoes at W/S 165 while Caribs for 70,000 tons cargo liftings still at W/S 155. -In the Med., Repsol for 80,000 tons of cargo loading Syria October 26, discharging Spain, has fixed M/T Athina M at W/S 150. -In the Continent, Western for 80,000 tons of cargo loading Oct. 28 Baltic, discharging UKIC, has fixed M/T Arendal at W/S 196. -In Caribs SPI for 70,000 tons of cargo loading Oct. 27, discharging USAC, has fixed M/T Patriot at W/S 147.5. DRY CARGO The market’s interest is still focused on Capers. -On coal cargoes Coeclerici has fixed M/V Anangel Ambition for 150,000 tons of cargo loading Nov. 10-24 S. America, discharging Portugal at USD 4.65 per ton with 2 days load and 35,000 tons discharge while Ore Ilva for 180,000 tons loading Nov. 14-21 S. Africa discharging Italy has fixed M/V Obelix I at USD 4.85 per ton with 2 days load and 40,000 tons discharge. -On Panamax in Atlantic M/V North Friendship 74,500 dwt, built 1999, delivery US Gulf end Oct., redelivery China has fixed at USD 7,250 daily and USD 130,000 ballast bonus while Bunge has fixed M/V Antonis I Angelicoussis 69,346 dwt, built 1989, delivery Spain end Oct. redelivery UKC/Med. at USD 5,900 daily. -On smaller sizes, strategic bulk carriers has fixed M/V Giem 41,025 dwt, built 1976, delivery end Oct. Argentine redelivery UKC at USD 6,500 daily. -On grain cargoes Dreyfus has fixed M/V Istria for 57,000 tons of cargo loading USAC end October, discharging UKC, at USD 8.00 per ton with 12 days all purposes while on coal cargoes Hanjin has fixed M/V Koutalianos for 160,000 tons of cargo loading November 5-19 S. Africa, discharging Rotterdam, at USD 4.90 per ton with 2 days load and 25,000 tons discharge.