ECONOMY

Shipping Report

TANKERS Firmer conditions in the Med. on Aframaxes, due to continuous inquiry out of the Black Sea. Rates are expected to move above W/S 130. – Suezmaxes quiet in the same area, with rates around W/S 105 for 140,000-ton cargoes. Sibneft has fixed M/T «Minerva Symphony» for 143,000 tons of cargo loading October 11, discharging UKC/Med., at W/S 105. – Cont. at stable rates, with more cargoes out of Baltic, while Caribs still at W/S 150 for 70,000-ton cargo liftings. – On Suezmaxes, Cont. with very little inquiry; rates also expected to fall due to the lack of activity in West Africa. – In Caribs, a couple of fixtures reportedly going to Spain, based at W/S 65-66 for the 142,500-ton cargo size, significantly down from last week. – VLCCs even weaker at W/S 90 and W/S 80 for Far East and the West, respectively. – In the Med., Erg for 80,000 tons of cargo, loading October 11 Algeria, discharging Italy, has fixed M/T «Nord Pacific» at W/S 122.5. – In the Cont., Koch for 80,000 tons of cargo, loading mid-October Baltic, discharging UKC-US Gulf, has fixed M/T «Lynn Craig» at W/S 115 – W/S 125 respectively. – In Caribs, Navion has fixed Teekay tonnage for 70,000 tons of cargo, loading October 11, discharging US Gulf, at W/S 160. DRY CARGO Another firm day, with rates for Capers in the East at USD 53,000 daily for round-trip voyages. – On T/C period, M/V «Cape Kennedy,» 170,726 dwt, built 2001, for three years’ trading, was fixed at USD 24,000 daily. – In the Atlantic, Coeclerici has fixed M/V «Cape Century,» 172,683 dwt, built 2001, delivery October 14-15 UK, trip via Brazil, redelivery China, at USD 53,000 daily. – On Panamaxes in the Far East, Fednav has fixed M/V «Yong Kang,» 74,823 dwt, built 2001, delivery October 1-5 China, trip via Australia, redelivery St Lawrence, at USD 22,000 daily. – In Atlantic, Panocean has fixed M/V «Panacea,» 73,317 dwt, built 1997, delivery Passero end September – beg. October via US Gulf, redelivery Far East, at USD 22,750 daily.