ECONOMY

Shipping Report

Another quiet day in the Med. with only 3-4 new cargoes fixed on subjects at around W/S 105. -Cont. remains quiet with the 80,000 tons of cargoes being fixed at less than W/S 110, while Caribs persist at levels of W/S 147.5 for the 70,000 tons cargo liftings. -Suezmax remain at W/S 75 out of W. Africa and W/S 82.5 in the North Sea. -In the Med., Tamoil for 80,000 tons of cargo loading Nov. 18 Libya, discharging Med., has fixed M/T Iran Abadeh at W/S 105. -In the Continent CSSA for 80,000 tons of cargo loading Nov. 17, discharging UKC, has fixed M/T Magnitude at W/S 110. -In Caribs, Exxon has fixed M/T Genmar Star for 70,000 tons of cargo loading Nov. 17, discharging US Gulf at W/S 147.5. DRY CARGO Capers are still looking bleak except for the occasional tight positions. -Panamaxes in the East are fixed at rounds often equating USD 2,500 daily, levels very close to lay up decisions. -On Handies there seems to be more enquiry in the US Gulf with 2-3 new stems within November. The 36,000 dwt M/V Ariston has made delivery in direct continuation with Pan Ocean to carry a Cargill Stem from the US Gulf to Morocco at around USD 7,000 daily. -On Capers, Transfield has fixed M/V Shibumi 166,058 dwt, built 1984, delivery Rotterdam Nov. 8-11 trip via Brazil, redelivery China at USD 5,700 daily. -On Panamax in Far East, Noble has fixed M/V Mani P 65,132 dwt, built 1983, delivery India Nov. 13-15, redelivery Far East at USD 4,750 daily and USD 38,000 ballast bonus. -In Atlantic, Armada has fixed M/V An Angel Progress 69,406 dwt, built 1989, delivery Gibraltar mid-November trip via Venezuela, redelivery UKC at USD 6,500 daily. -On smaller sizes Intermare has fixed M/V Mare 38,864 dwt, built 1981, delivery mid-November US Gulf, redelivery UK at USD 5,650 daily. We are keen to ensure that the labeling and traceability laws meet member-state requirements and consumer demands while recognizing the realities of agricultural production.