ECONOMY

Shipping Report

TANKERS Quieter in the Med. since most of the cargoes out of the Black Sea have been covered at inflated levels. – Stems in the Cont. have been pushed above W/S 90, while the N. Sea crossings of 80,000-ton cargoes are still being fixed at W/S 95. – Suezmaxes steady with Exxonmobil having fixed M/T «Sea Racer» for 135,000 tons of cargo, loading Sept. 21, discharging UKC/Med., at W/S 77.5-82.5 respectively, while Alpine for same cargo quantity, loading Sept. 22 has fixed M/T «Bosco Tapias» at W/S 85. – VLCCs at better rates with lG Galtex having fixed M/T «Astro Corona» for 260,000 tons of cargo, loading Oct. 7, discharging S. Korea at W/S 49.5. – In the Med., Transway has fixed M/T «Aegean Pride» for 80,000 tons of cargo, loading Sept. 18, discharging Med. at W/S 105. – In the Cont., Gunvor has fixed M/T «Desh Rakshak» for 80,000 tons of cargo, loading Sept. 14, discharging UKC at W/S 92.5. – In Caribs, Valero for 70,000 tons of cargo, loading Sept. 14, discharging USAC has fixed M/T «Sks Trinity» at W/S 142.5. DRY CARGO Spot rates on Capers in Far East continue to firm, while period activity has slowed down. – Panamax rates in the Atlantic are moving upwards, with Cargill having fixed M/V «Mari Christina,» 74,410 dwt, built 2001, delivery beg. Sept. France trip via East Coast S. America, redelivery UKC at USD 17,000 daily. – Stable in the East with good demand on T/C periods. S. Korean charterers have fixed M/V «Giovanni Bottiglieri,» 75,265 dwt, built 1995, delivery China Sept. 12-13 for 7-9 month period at 17,000 daily. – In the Atlantic, Cobelfret has fixed M/V «Alexandra 1,» 69,090 dwt, built 1994, delivery Germany mid Sept. trip via Gdansk, redelivery Antwerp at USD 17,000 daily. – On smaller sizes, WBC has fixed M/V «Cos Bonny,» 46,864 dwt, built 1996, delivery Sept. 7-12 China for 3-5 months at USD 13,600 daily.