ECONOMY

Shipping Report

– There is a great deal of spot-prompt tonnage, while the new cargoes are quoted with loading dates of November 5-6. – Easier conditions also out of W. Africa with Sun having fixed at W/S 95. – Aframaxes appear steady in the Med, and at W/S 140 for modern tonnage, while Cont. is at W/S 155 but with prompt tonnage thinning out. – Caribs still at W/S 152.5 for the 70,000 tons of cargo liftings, while on Vlccs rates are on a downward trend. – In the Med., Petraco for 80,000 tons of cargo, loading October 28 Black Sea, discharging Med., has fixed M/T Everton at W/S 105. – On the Continent, ESSO for 80,000 tons of cargo, loading October 28 UK, discharging UKC, has fixed M/T Valiant at W/S 155. – In Caribs, EXXON has fixed M/T Sanko Quest for 70,000 tons of cargo, loading October 27, discharging US Gulf, at W/S 152.5. DRY CARGO Last week ended on a positive note for the Capers, though sentiment is different this week and the Capers index has lost two points, totalling 1,043. – Panamaxes at steady levels with M/V Silvretta, 75,100 dwt, built 1995, fixed by Bunge Delivery end-October Spain, trip via US Gulf, redelivery Koschang, at USD 7,000 daily, while M/V Anna, 75,600 dwt, built 1999, delivery end-October Trinidad, for 6-8 month period, has fixed at USD 7,500 daily and USD 60,000 ballast bonus. – On Capers, Worldlink has fixed M/V Setsuyo Star, 170,808 dwt, built 1985, delivery end-October UK, redelivery China, at USD 9,250 daily. – On Panamax in far East, Cosco has fixed M/V Christina III, 69,634 dwt, built 1993, delivery Japan end-October, for 12-month period, at USD 6,750 daily. – In Atlantic, Oldendorff has fixed M/V North Friendship, 74,732 dwt, built 1999, delivery US Gulf end-October, redelivery Far East, at USD 7,500 daily and USD 150,000 ballast bonus. – On smaller sizes, IVS has fixed M/V Liberator, 26,369 dwt, built 1991, delivery end-October Mozambique, redelivery West Med., at USD 6,500 daily. – On grain cargoes, SNTM/HYPROC, for 15,000 tons of cargo, loading US Gulf November 1-15, discharching Algeria, has fixed USD 27.50 per ton with 6,000 tons load and 7,000 tons discharge.