ECONOMY

Shipping Report

TANKERS Firm conditions on Aframaxes both in the Med. and Cont., with rates hovering at W/S 210 and W/S 180, respectively. – The picture is similar for Suezmaxes in both areas, with rates at W/S 165 and W/S 135, respectively. – Caribs remain quiet with marginal inquiry. The 70,000-ton cargo liftings are being fixed at W/S 155. – VLCCs stable with Kangqi having fixed M/T «C. Concord» for 255,000 tons of cargo, loading Nov. 18, discharging China at W/S 75. – Suezmaxes out of W. Africa at firmer rates than before, with Sun having fixed M/T «Narova» for 130,000 tons of cargo, loading Nov. 24, discharging USAC, at W/S 110. – In the Med., KPC has fixed M/T «Astro Saturn» for 80,000 tons of cargo, loading 11 Nov. Libya, discharging Med., at W/S 207.5, while on Suezmaxes, Exxonmobil has fixed M/T «Genmar Kestrel» for 135,000 tons of cargo, loading Nov. 14 Egypt, discharging Med., at W/S 147.5. – In the Cont., Stasco has fixed M/T «Evita» for 80,000 tons of cargo, loading Nov. 8 Tees, discharging Sweden, at W/S 180. – In Caribs, Citgo has fixed M/T «Portel» for 70,000 tons of cargo, loading Nov. 9, discharging US Gulf, at W/S 157.5. – In W. Africa and on VLCCs Ig Caltex has fixed M/T «Edinburgh» for 260,000 tons of cargo, loading Nov. 30, discharging S. Korea, at W/S 62.5. – In Arabian Gulf, CPC has fixed M/T «Hyundai Sun» for 262,000 tons of cargo, loading Nov. 21, discharging Taiwan, at W/S 72.5. DRY CARGO Another day of sluggish activity for Capesize vessels. Rates are dropping in some areas, despite the interesting fixture of M/V «Dynasty,» 133,082 dwt, built 1982, with delivery Nov. 5-7 Philippines, trip via Australia, redelivery China, at USD 61,000 daily. – On Panamaxes, short-term period activity appears to be the focus of trading in the East. Bunge was linked with M/V «Seamaid,» 74,461 dwt, built 1999, delivery Japan Nov. 8-17, for 5-7 months’ trading at USD 38,000 daily, while same charterers have fixed M/V «Darya Radhe,» 73,705 dwt, built 1999, for same period at USD 38,500 daily. – In the Atlantic, M/V «Maritsa,» 73,000 dwt, built 1995, has fixed for 1 year trading at USD 27,500 daily. – On Handymaxes, brokers are talking about a fairly lengthy list of tonnage for Nov. dates. – Black Sea still providing healthy levels, with S. Korean charterers taking M/V «Great Majesty,» 46,500 dwt, built 1998, delivery Turkey, for a 50-day trip to the Far East at USD 21,000 daily. – On smaller sizes, Kline has fixed M/V «Konkar Georgios,» 46,670 dwt, built 1997, delivery Taiwan end Oct., trip via Indonesia, redelivery Japan, at USD 25,000 daily.