ECONOMY

Shipping Report

TANKERS There are stable conditions in the Med. and Cont., with cargoes of 80,000 tons being fixed at rates of W/S 187.5 and W/S 170, respectively. – Caribs are still weak with two to three fixtures at W/S 155 for cargo liftings of 70,000 tons. On smaller sizes, Citgo has fixed Heidmar tonnage for 50,000 tons of cargo, loading October 25, discharging US Gulf, at W/S 175, while Hess has also fixed Heidmar tonnage for the same cargo quantity, loading October 30, discharging USAC, at W/S 172.5. – The Suezmax market out of West Africa is stable and a bit firmer on VLCCs, with the latest fixtures at W/S 52.5 for destinations both east and west. – In the Med., Chevtex for 80,000 tons of cargo, loading November 5, discharging Med., has fixed M/T «Apanemo» at W/S 200. – In the Cont., BP has fixed M/T «Progress» for 80,000 tons of cargo, loading October 30 North Sea, discharging UKC, at W/S 170. – In Caribs, Valero for 70,000 tons of cargo, loading November 2, discharging US Gulf – Atlantic, has fixed M/T «Sinova» at W/S 155. – In West Africa and on VLCCs, Sinochem for 260,000 tons of cargo, loading November 26, discharging China, has fixed M/T «Universal Prime» at W/S 52.5. – In Arabian Gulf, S. Oil for 270,000 tons of cargo, loading November 5, discharging Korea, has fixed M/T «Nichihiko» at W/S 49. DRY CARGO Capers remain strong, while spot activity has returned to normal. The day before yesterday, in particular, the index gained just 1 point, totaling 6,854. – Panamax rates strengthened significantly in the east but so far not uniformly, as one or two early ships are still struggling for to fixtures. Rates appear to be returning to the highs seen during the week beginning 7 October. – The Atlantic is quieter with good rates still been paid. – Handymaxes remain strong in the Atlantic, with Brobulk having fixed M/V «Roberto C,» 45,210 dwt, built 1994, delivery western Med. for a trip via the Continent, redelivery Far East, at USD 20,000 daily. – On Panamax in Far East, Shinwa has fixed M/V «Tian Bai Feng,» 74,269 dwt, built 2000, delivery/redelivery Japan Nov. 2-4, trip via Australia, at USD 43,000 daily. – In Atlantic, Sanko has fixed M/V «Jiu Long Feng,» 73,824 dwt, built 2002, delivery Mexico Nov. 1-10, redelivery Japan, at USD 35,000 daily and USD 585,000 ballast bonus. – On smaller sizes, Daeyang has fixed M/V «Chang Qiang,» 2 47,559 dwt, built 1998, delivery US Gulf Nov. 5-7, redelivery Far East, at USD 32,000 daily. – On coal cargoes, Enerco has fixed M/V «Bosporous» for 140,000 tons of cargo, loading Bolivar (Colombia), Nov. 13-22, discharging Holland, at USD 20.00 per ton with a 50,000-ton load and 25,000 tons discharge.