ECONOMY

Shipping Report

TANKERS A quiet start to the week, with modern Aframaxes in the Med. being negotiated at around W/S 115, while Suezmax rates are picking up, with 135,000-ton cargoes being fixed above W/S 100. – A similar picture in the North Sea, with the 80,000-ton cargoes being fixed at W/S 105, while Caribs are still at W/S 150-152.5 for the 70,000-ton cargo liftings. – Good demand on Suezmaxes out of West Africa too, with Exxonmobil having fixed M/T «Aegean Eagle,» loading October 16, discharging US Gulf at W/S 115, while Cepsa has fixed M/T «Georgios S,» loading October 11, discharging Spain, at W/S 112.5. – In the Med., Sibneft for 80,000 tons of cargo, loading September 21 Black Sea, discharging Med., has fixed M/T «Sereno II» at W/S 85. – In the Cont., Emerald for 80,000 tons of cargo, loading October 2, discharging US Gulf, has fixed M/T «Sks Tiete,» at W/S 135. – In Caribs, Chevtex has fixed M/T «Sinova» for 70,000 tons of cargo, loading October 1 East Coast, Mexico, discharging US Gulf, at W/S 151.25. – In West Africa, Sun has fixed M/V «Aegean Lady» for 130,000 tons of cargo, loading October 11, discharging USAC, at W/S 110. DRY CARGO Market remains firm in all sizes and areas. This is reflected in the T/C period rates: Brokers are alleging that an lme type was bid for at 19,000 USD daily for a year’s trading with January delivery. – On shorter periods, M/V «Monte Pelmo,» 72,917 dwt, built 2000, with delivery Japan end-October for 5-7 months’ trading, was fixed at USD 19,500 daily. – Rates for two-year periods are now comfortably at USD 16,000 daily, depending on commission. Unlike the capesize market, charterers have not been moved to charter for 3 years’ trading. – On Capers, the Chinese have fixed M/V «China Steel Responsibility,» 175,775 dwt, built 2003, delivery Taiwan October 11-20, trip via Australia, at USD 43,000 daily, while AEP has fixed M/V «Aquagem,» 167,102 dwt, built 1997, delivery Japan October 10-20, trip via Australia or South Africa, redelivery UKC/Med., at USD 33,000 daily. – On Panamaxes in Far East, d’Amico has fixed M/V «Jin Tai,» 74,204 dwt, built 2002, delivery Japan end-September for 4-6 months’ trading, at USD 19,250 daily. – In Atlantic, BHP Billiton has fixed M/V «Lavadara,» 69,091 dwt, built 1996, delivery Passero October 10-20 for 23-25 months’ trading, at USD 14,900 daily.