ECONOMY

Shipping Report

TANKERS Steady conditions for Aframaxes in the Med. and Cont. with rates above W/S 100 and W/S 92.5, respectively. – Caribs market is improving with latest fixtures at W/S 150 for the 70,000-ton cargo liftings. – Much firmer appears the VLCC market mainly for cargoes out of Arabian Gulf with destinations East. Chevtex has fixed M/T «Kaimon II» for 275,000 tons of cargo, loading October 7, discharging East, at W/S 112.5. – Suezmax rates also improving out of W. Africa, with Sun having fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading October 1, discharging USAC at W/S 101. – In the Med., Hess for 80,000 tons of cargo, loading September 19 Algeria, discharging USAC has fixed M/T «Victoria Spirit» at W/S 110. – In the Cont., Exxonmobil for 80,000 tons of cargo, loading September 26 UK, discharging Italy, has fixed M/T «Astro Sirius» at W/S 92.5. – In Caribs, SPI for 70,000 tons of cargo, loading September 23, discharging USAC, has fixed Agelef tonnage at W/S 150, while on Suezmax Premcor for 130,000 tons of cargo, loading September 20, discharging US Gulf, has fixed M/T «Tromso Fidelity» at W/S 85. DRY CARGO All sizes are at steady rates in both areas, while the Biffex index continued its upward trend by 7 points, totaling to 2,327. – China steel on Capers has fixed M/V «China Steel Responsibility,» 175,775 dwt, built 2003, delivery China September 12-15 trip via Australia, redelivery Taiwan, at USD 30,000 daily. – On Panamax in Far East, Nasl has fixed M/V «Montrose,» 75,592 dwt, built 2002, delivery Japan September 8-10, redelivery Taiwan, at USD 15,000 daily. – In Atlantic, Cargill has fixed M/V «Sparta,» 75,115 dwt, built 2001, delivery beg. September Germany, redelivery Red Sea, at USD 19,000 daily. – On smaller sizes, Uniseas has fixed M/V «Surmene 4,» 38,888 dwt, built 1984, delivery beg. September Mexico for 70 days’ trading, redelivery Atlantic, at USD 15,500 daily.