ECONOMY

Shipping Report

– Modern Aframax in the Med. at W/S 14-145, depending on charterers and destination. At these levels have fixed Total, Chevron, Most and Veba. – Cont. as well as Caribs remain quiet. – Very limited Suezmax cargoes in W. Africa and Continent. Dreyfus has fixed M/T Four Smile for 130,000 tons of cargo loading Nov. 11, discharging Germany at W/S 102.5. – In the Med. Chevron for 80,000 tons of cargo, loading Oct. 31 Black Sea, discharging Med., has fixed M/T Yannis M at W/S 145. – On Suezmax, Tamoil for 130,000 tons of cargo loading Oct. 28 Libya, discharging UKC/Med., has fixed M/T Erviken at W/S 100. – In Caribs, Farmland for 70,000 tons of cargo loading Oct. 25, discharging US Gulf, has fixed M/T Maria Tsakos at W/S 145. DRY CARGO Chartering activity remains unexciting everywhere but is only highlighted by increased activity in this period by the demand for Panamaxes. – Capers, in comparison, are still active while older Panamax tonnage in the Med. has a problem finding appropriate employment. – On T/C periods Oetker has fixed M/V Giant Pescadores 71,671 dwt, built 1998, delivery end Oct.-beg. Nov. Korea for 1 year period at USD 7,750 daily option, 2nd year at USD 8,750 daily. – On Capers, Kleimar has fixed M/V S.A Fortius, 172,100 dwt, built 2001, delivery end Oct. Japan trip via Australia and Turkey, redelivery Passero at USD 9,500 daily. – On Panamax in Atlantic, Koch Carbon has fixed M/V Mehmet Bey 68,788 dwt, built 1990, delivery USAC end October redelivery UKC/Med. at USD 5,500 daily and USD 100,000 ballast bonus. – On smaller sizes Fayette has fixed M/V Tate J, 43,685 dwt, built 1993, delivery end October trip via Black Sea, redelivery Singapore/Japan at USD 9,200 daily. – On grain cargoes SNTM/Hyproc for 15,000 tons of cargo loading US Gulf November 1-15, discharging Algeria, has fixed at USD 27.50 per ton with 6,000 tons load and 7,000 tons discharge.