ECONOMY

Shipping Report

Market remains quiet with the Aframaxes in the Med. at W/S 125 and moving lower, while in Continent latest fixtures are at W/S 110. -Caribs active yesterday with more than 12 fixtures with rates being moved FM W/S 130 to W/S 140. -Suezmaxes remain quiet in Med. and Cont. at W/S 80-85, while Agip out of W. Africa has fixed M/T North Star at W/S 75. -In the Med., Sibneft for 80,000 tons of cargo loading Nov. 9 Russia, discharging Med., has fixed M/T Eagle Lyra at W/S 125 while ERG for same cargo quantity, loading Nov. 9 Egypt with same destination has fixed M/T Vergina II at W/S 110. -In the Continent, Gunvor for 80,000 tons of cargo loading Nov. 9 Russia, discharging UKC, has fixed Texaco tonnage at W/S 120. -In Caribs, Valero for 70,000 tons of cargo loading Nov. 5, discharging US Gulf, has fixed M/T Hudson Spirit at W/S 130. -In W. Africa, Petrobras has fixed M/T Tribute for 130,000 tons of cargo loading Nov. 14, discharging Brazil at W/S 87.5. DRY CARGO Caper market remains quiet. -Panamaxes are also quiet in both the East and the West. Some optimists want to point out that there is more inquiry, while the pessimists feel that much more inquiry would be needed in order to halt the slide. -Handies/Handymax in the East at steady levels with Pan Ocean having fixed M/V Salvia 48,000 dwt, built 2000, delivery end October Taiwan, redelivery Nopac at USD 6,100 daily. -On Capers, Swiss Marine has fixed M/V Fernie 122,292 dwt, built 1996, delivery beg. Nov. Japan for 2 legs at USD 6,750 daily. -On Panamax in Pacific, Daeyang has fixed M/V Ermis 64,379 dwt, built 1984, delivery beg. Nov. China, redelivery S. Korea at USD 4,500 daily. -In Atlantic, Cargill has fixed M/V Angelic Spirit 65,767 dwt, built 1984, delivery Nov. 1-5 Brazil trip via East Coast S. America, redelivery UKC/Med. at USD 6,000 daily and USD 110,000 ballast bonus. -On smaller sizes, Pan Ocean has fixed M/V Pacific Emerald 40,016 dwt, built 1996, delivery beg. Nov. East Coast Australia, redelivery India at USD 7,500 daily and USD 80,000 ballast bonus.