ECONOMY

Shipping Report

TANKERS Aframax rates in the Med. are heading above W/S 100, mainly due to increased activity out of the Black Sea. – Tonnage seems to be limited on double hulls prior to the 15th of the month. – Cont. stable, as are Caribs. – Lesser activity on Suezmaxes out of W. Africa, while in VLCCs out of the same area, CPC has fixed M/T «Astypalaia» for 260,000 tons of cargo, loading Oct. 5, discharging Taiwan, at W/S 45. – In the Med., Vitol for 80,000 tons of cargo, loading Sept. 8, discharging Med., has fixed M/T «Hellas Warrior» at W/S 100. – On Suezmaxes, Samir for 135,000 tons of cargo, loading Sept. 12, discharging Morocco, has fixed Thenamaris tonnage at W/S 76. – In the Cont., CSSA for 80,000 tons of cargo, loading Sept. 12 for UKC round-trip voyage, has fixed M/T «Astro Sirius» at W/S 90. DRY CARGO The slow start to the week continues, although owners remain bullish that rates in the Atlantic will start increasing. – The Far East seems stable at present rates. The outlook appears positive, based largely on sentiment. – On Capers, Chinese charterers have fixed M/V «Eurotrader,» 164,303 dwt, built 1996, delivery Japan Sept. 11-13, trip via W. Australia, redelivery China, at USD 31,500 daily. – Rates on Handy/Handymaxes have slipped significantly out of the US Gulf. A 40,000-tonner for a trip US Gulf to Skaw-Passero was fixed at USD 18,000 daily, a weaker rate than the last fixing. – In Far East, Cobelfret has fixed M/V «Pearl of Jebel Ali,» 75,214 dwt, built 2002, delivery mid-Sept. China, trip via Indonesia, redelivery Hong Kong, at USD 16,750 daily. – In Atlantic, Cosbulk has fixed M/V «Esna,» 71,598 dwt, built 1998, delivery Passero for 4-6 month period at USD 17,150 daily. – On smaller sizes, MCL has fixed M/V «Steel Glory,» 39,345 dwt, built 1984, delivery S. Africa beg. Sept., redelivery UKC, at USD 11,900 daily.