ECONOMY

Shipping Report

TANKERS Market at steady levels, though there’s a lack of activity in the Med. Modern Aframaxes are still being fixed at W/S 115-117.5 and W/S 125 if loading in Black Sea area. – Suezmaxes at around W/S 100-105, with Gunvor having fixed M/T «Sea Grace» for 140,000 tons of cargo, loading October 8 Russia, discharging Med., at W/S 140. – North Sea with a couple of new Suezmax cargoes with destination US Gulf / USAC. On Aframaxes, levels are still hovering around W/S 105. – Caribs remain with low fixings, with a number at W/S 152.5 for 70,000-ton cargo liftings. – West Africa has very little fresh inquiry and rates are expected to remain steady around W/S 112.5-115. Sun has fixed M/T «Sonangol Luanda» for 130,000 tons of cargo, loading October 15, discharging USAC, at W/S 115. – In the Med., Stasco has fixed M/T «Lochness» for 80,000 tons of cargo, loading October 6 Algeria, discharging US Gulf, at W/S 117.5. – In Caribs, Atmi has fixed M/T «Astro Altair» for 70,000 tons of cargo, loading October 4, discharging US Gulf, at W/S 151.25. DRY CARGO The market remains quiet with fairly slow trading, however owners are ambitious, especially for period business, due to existing demand. – On Capers, Noble has fixed M/V «Southern Explorer,» 177,493 dwt, built 2002, delivery end Feb. -beg. March 2004 for 30 months’ trading at USD 28,500 daily. – On Panamaxes, M/V «World Romance,» 74,047 dwt, built 1999, delivery September 25-30, was fixed for five months’ trading at USD 20,000 daily. – Very little has been reported on Handies. It was a day of assessing cargoes and the availability of tonnage. On Handymaxes, M/V «Artemis II,» 52,055 dwt, built 2001, was fixed and failed delivery in Turkey end September via Black Sea and Arabian Gulf, redelivery Muscat, at USD 19,500 daily. – Cobelfret has fixed M/V «Salvatore Cafiero,» 75,668 dwt, built 2001, delivery China end September for two to three months’ trading at USD 17,750 daily. – In the Atlantic, Oldendorff has fixed M/V «Endless,» 73,427 dwt, built 1999, delivery Italy end September trip via Kamsar, redelivery Italy, at USD 18,250 daily. – On smaller sizes, IVS has fixed M/V «Triada,» 38,434 dwt, built 1984, delivery South Africa end September, redelivery Cont., at USD 12,250 daily.