ECONOMY

Shipping Report

TANKERS Med. market on Aframaxes is set at W/S 105, with owners trying to improve fixings on cargoes with Sept. dates. – A fair amount of inquiry remaining for Sept. dates as well; the majority originating from the Baltic area. Karran has fixed M/T «Petropavlosk» for 100,000 tons of cargo, loading Sept. 29, discharging UKC at above said levels, while on Suezmaxes BP has fixed M/T «Iran S» for 135,000 tons of cargo, loading Oct. 4 N. Sea, discharging UKC, at W/S 92.5. – Caribs, with lesser demand, are hovering at around W/S 155 for 70,000-ton cargo liftings. – VLCCs out of Arabian Gulf at steady levels, while Suezmaxes out of W. Africa at W/S 105. Sun has fixed M/T «Astro Capella» for 130,000 tons of cargo, loading Oct. 9, discharging USAC, at abovementioned levels. – In the Cont., Koch for 80,000 tons of cargo, loading beg. Oct., discharging US Gulf, has fixed M/T «Jag Lata» at W/S 107. – In Caribs, Stasco has fixed M/T «Genmar Nestor» for 70,000 tons of cargo, loading Sept. 24, discharging US Gulf, at W/S 155. DRY CARGO Conditions are even firmer for Capers, while in the short term, freights of USD 50,000 daily seem achievable. – Good demand also for T/C periods, with Sinochart having fixed M/V «Aqua Faith,» 167,110 dwt, built 1997, delivery Far East Oct. 25-31 for 25- to 27-month period at USD 25,250 daily. – On Panamaxes, even though the S. Koreans are now back at work, trading continues slowly. Period rates, however, remain strong. – Navix in the east, delivery Philippines Sept. 18-20 for 2-3 months’ trading, has fixed M/V «Ming Virtue,» 76,600 dwt, built 2003, at USD 18,000 daily. – In the Atlantic, Transgrain has fixed M/V «Medi Kobe,» 75,924 dwt, built 2001, delivery Passero Sept. 18-24 via East Coast S. America, redelivery Far East, at USD 19,500 daily, while Bottiglieri has fixed M/V «Striggla,» 64,747 dwt, built 1982, delivery Ireland end Sept. for 2-3 legs at USD 13,000 daily. – On smaller sizes, Wampol has fixed M/V «Ince Pacific,» 45,514 dwt, built 2001, delivery Singapore end Sept. trip via Indonesia, redelivery India, at USD 14,900 daily.