ECONOMY

Shipping Report

TANKERS Aframaxes in the Med. are very firm, with rates at W/S 180 out of Black Sea while there are market rumors of one fixture at W/S 200 without no additional information. – Suezmaxes are also firming in the same area. – On the Cont., demand is beginning to increase leading rates to W/S 120-122.5 while with destination States, recent rates are hovering around W/S 135. – Similar picture in the Caribs as well. The 70,000-ton cargo liftings are fixed at W/S 170. Valero has fixed M/T «Astro Sculptor,» loading October 20, discharging US Gulf, at the abovementioned levels. – VLCCs easing as well as Suezmaxes out of West Africa have latest fixtures at W/S 92.5 for 130,000-ton cargoes with destination States. – In the Med., Stasco for 80,000 tons of cargo, loading October 20 Syria, discharging Med., has fixed M/T «Sarpen» at W/S 165. – On the Cont., BHP, for 80,000 tons of cargo, loading October 8, discharging UKC, has fixed M/T «Moscow University» at W/S 120. – In Caribs, BP has fixed Skaugen tonnage for 70,000 tons of cargo loading October 19, discharging US Gulf, at W/S 172.5. DRY CARGO Even firmer conditions in all areas with strong demand for T/C periods. – On Capers, Cargill has fixed M/V «Cape Kennedy,» 171,000 dwt, built 2001, delivery Far East beginning of December for three years’ trading at USD 30,000 daily. – On Panamax in Far East, Daiichi has fixed M/V «Angelic Grace,» 74,700 dwt, built 2001, delivery/redelivery China October 15-20, trip via Western Australia, at USD 45,000 daily. – In Atlantic, AWB has fixed M/V «Yong Tai,» 74,000 dwt, built 2000, delivery US Gulf October 19-23, redelivery Far East, at USD 26,000 daily and USD 490,000 ballast bonus. – On smaller sizes, Glencore has fixed M/V «Aghia Sofia,» 35,063 dwt, built 1982, delivery Gibraltar mid-October, trip via Brazil, redelivery UKC, at USD 12,350 daily. – On coal cargoes, Volcano has fixed M/V «Lara» for 70,000 tons of cargo loading 15-25 October US Gulf, discharging Egypt, at USD 17.25 per ton with 35,000-ton load and 18,000-ton discharge.