ECONOMY

Shipping Report

TANKERS Firmer conditions in the Med. mainly due to weather conditions in Bosporus / Black Sea ports as well as to depot problems in Trieste, which lacks adequate space for accepting arriving cargoes. – Aframaxes in this area are fixed between W/S 155-160 while Suezmaxes are fixed at around W/S 110 for 140,000 tons of cargo out of Black Sea. – Cont. also is showing improved freight rates, with 80,000 tons of cargo fixed at W/S 117.5. – Caribs remain quiet at the steady levels of W/S 145-147.5 for 70,000 tons of cargo. – VLCCs stable out of Arabian Gulf. Latest fixtures are at W/S 47.5 with destination West and at W/S 52.5-W/S 55 with destination East. – Suezmaxes out of West Africa with minor inquiry. Rates are holding around W/S 100 with destination USAC. – In the Med., ERG for 80,000 tons of cargo, loading October 11 Algeria, discharging Italy, has fixed M/T «St. Nicholas» at W/S 140. – On the Cont., CSSA has fixed M/T «Raghild Knutsen» for 80,000 tons of cargo, loading October 18, discharging UKC, at W/S 117.5. – In Caribs, ExxonMobil, for 70,000 tons of cargo, loading October 11 East Coast Mexico, discharging US Gulf, has fixed M/T «Regent» at W/S 145. – In West Africa, ExxonMobil, for 95,000 tons of cargo, loading October 28, discharging East Coast Canada, has fixed Teekay tonnage at W/S 140. DRY CARGO A slower volume of fixtures was seen at the start of the week. Rates, however, remain strong for Capers as well as for Panamaxes, especially out in the East. – M/V «Kwk Exemplar,» 169,300 dwt, built 2001, was fixed at USD 65,000 or 67,000 daily, delivery/redelivery Japan. – In the Atlantic, COSCO has fixed M/V «Quorn,» 179,869 dwt, built 1996, delivery end-October Passero, trip via Brazil, redelivery China, at USD 60,000 daily. – On Panamax in Far East, Mol Navix has fixed M/V «Nordems,» 75,253 dwt, built 2001, delivery/redelivery Japan, October 6-10, trip via USAC, at USD 34,500 daily. – In Atlantic, Bunge has fixed M/V «Eiren,» 65,131 dwt, built 1978, delivery Passero October 4-14, for 11-13-month period, at USD 12,500 daily.