ECONOMY

Shipping Report

TANKERS In the Med., rates for modern Aframaxes have been fixed at W/S 185 and, despite the lack of fresh inquiry, rates are not expected to slide further due to delays at a number of ports. – In the Cont., the available tonnage in comparison with the cargoes to be transported by the end of the month is considered tight. Rates are expected to firm. – Caribs stable, while Suezmaxes in W. Africa are more active due to a number of cargoes. Rates are hovering around W/S 110 for destinations US and Med. – VLCCs stable, with Tupras having fixed M/T «C. Dream» for 285,000 tons of cargo, loading Nov. 2, discharging Red Sea, at W/S 42.5, while Sasol has fixed M/T «Astro Centaurus» for 275,000 tons of cargo, loading Nov. 6, discharging S. Africa, at W/S 47.5. – In the Med., Shell for 80,000 tons of cargo, loading Oct. 27 Libya, discharging Med., has fixed M/T «St Conductor» at W/S 185. – In Caribs, Emerald has fixed M/T «British Hawthorn» for 70,000 tons of cargo, loading Oct. 17 East Coast Mexico, discharging US Gulf, at W/S 162.5. – In W. Africa, Hess for 130,000 tons of cargo, loading Nov. 5, discharging Caribs, has fixed M/T «Kronviken» at W/S 102.5. DRY CARGO Atlantic rates on Capers continue to firm. The front haul voyages are being fixed at USD 90,000-100,000 daily. Cosco has fixed M/V «Cape Jupiter,» 171,100 dwt, built 1997, delivery Portugal end Oct., trip via Brazil, redelivery China, at USD 90,000 daily. – The East appears slower, with charterers considering splitting up Cape cargoes and Panamaxes, avoiding the extreme freight rate levels. – Sharp reductions in rates in both oceans on Panamaxes. Several ships have failed and charterers consider it good opportunity to propose lower rates. – BHP Billiton has fixed M/V «Gallia Graeca,» 74,133 dwt, built 2001, delivery mid-Oct. Thailand, trip via Indonesia, redelivery Italy, at USD 32,000 daily, while Daeyang in Atlantic has fixed M/V «Nordelbe,» 75,259 dwt, built 2001, delivery Nov. 11-12 France, trip via US Gulf, redelivery Far East,k at USD 33,000 daily. – On T/C periods, Mol Navix has fixed M/V «Celerina,» 73,035 dwt, built 1999, delivery end Nov. Japan for 12 months’ trading at USD 26,500 daily. – On Handymaxes, Japanese charterers have fixed M/V «Atoyac,» 45,642 dwt, built 1995, delivery Netherlands Oct. 18-20, trip via US Gulf, redelivery Far East, at USD 21,000 daily. – On grain cargoes, Pagnan for 36,000 tons of cargo, loading US Gulf Oct. 28-31, discharging Adriatic, has fixed at USD 28.50 per ton with 7,000-ton load and 5,000 tons discharge.