ECONOMY

Shipping Report

TANKERS A quiet start to the week, with Med. Aframaxes maintaining recent levels of W/S 100-102.5, while Suezmaxes are being fixed around W/S 100. – The Cont. situation is similar, with the 100,000-ton cargoes out of the Baltic Sea being fixed at W/S 92.5. Sibneft has fixed M/T «Desh Rakshak,» loading September 22, discharging UKC, at above levels. – Carib market is quieter with limited inquiry, while Suezmaxes out of West Africa are being negotiated at around W/S 100-102.5 for US Gulf and USAC destinations respectively. – VLCCs at steady levels, with 265-270,000-ton cargoes with destinations west at W/S 82.5 and east at W/S 112.5-115. – In the Med., Karran for 80,000 tons of cargo, loading September 24, discharging Med., has fixed M/T «Framura» at W/S 102.5. – In the Cont., Gunvor for 80,000 tons of cargo, loading September 22 Russia, discharging UKC, has fixed Lundqvist tonnage at W/S 97.5. – In Caribs, Blanchard for 140,000 tons of cargo, loading September 15, discharging US Gulf, has fixed M/T «Front Glory» at W/S 112.5. DRY CARGO Capesize rates remain strong despite the current holidays in the east. Elder units say they might concede lower rates but owners of modern tonnage are expecting even higher rates than those at present. – On T/C periods, Swiss Marine has fixed M/V «Corona Fortune,» 172,972 dwt, built 1993, delivery China end September for two years’ trading at USD 19,900 daily. – Panamaxes in the Atlantic are still being fixed at strong rates, despite the slowdown in inquiry. Transfield has fixed M/V «Century Star,» 75,300 dwt, built 2003, delivery Netherlands for 5-7 months’ trading at USD 18,500 daily, while ABT has fixed M/V «Nordelbe,» 75,259 dwt, built 2001, delivery Romania September 15-18 for 2-3 legs at USD 20,250 daily. – Rates in the east for the same type of vessels have improved due to good demand for Nopac cargoes. Nopac round-trip voyages are being fixed at around USD 16,500 daily. – China Steel Express has fixed M/V «Pearl of Abu Dhabi,» 75,458 dwt, built 2002, delivery Taiwan September 18-22, trip via Indonesia, at USD 16,000 daily. – On smaller sizes, Voc has fixed M/V «Sea Conqueror,» 37,662 dwt, built 1984, delivery US Gulf mid-September, redelivery Med., at USD 14,000 daily. – On ore cargoes, Corus for 150,000 tons of cargo, loading end September Norway, discharging Netherlands, has fixed at USD 5.00 per ton with six days all purposes.