ECONOMY

Shipping Report

TANKERS Firmer conditions on VLCCs. The latest rates of W/S 95 for destinations toward the Far East have risen to W/S 105 and are expected shortly to reach W/S 120. – Stable rates for Suezmaxes in the Med. and W. Africa. – In W. Africa, the 130,000-ton cargoes are being fixed at W/S 160 and W/S 165 for US and Europe destinations. – Aframaxes stable in the Med. at around W/S 200, and in the Cont. at around W/S 185. – In Caribs, the 70,000-ton cargo liftings are being fixed at W/S 185-195, depending on dates and cargo destination. – In the Med., Lukoil for 80,000 tons of cargo, loading Nov. 16 Russia, discharging Med., has fixed M/T «Vergina II» at W/S 200. – In the Cont., Europet for 100,000 tons of cargo, loading Nov. 15, discharging UKC, has fixed M/T «Eagle Charlotte» at W/S 165. – In Caribs, Conoco has fixed M/T «Champion» for 70,000 tons of cargo loading Nov. 16, discharging US Gulf, at W/S 195. – In W. Africa, Vitol for 130,000 tons of cargo, loading Nov. 24, discharging US Gulf, has fixed M/T «Genmar Transporter» at W/S 160. DRY CARGO Capers in the East remain strong for all ages, while the Atlantic market is still a touch softer. Some high rates were reported but it emerged these deals had been concluded a week or so ago. – On T/C periods, Kline has fixed M/V «Ocean Queen,» 170,000 dwt, delivery Japan for one year of trading, at USD 55,000 daily. – Panamaxes in the East at a slow start due to a holiday in Japan. However, activity is expected to increase again. – In the Atlantic, there are some early ships still unfixed and as well as ballast but period rates remain healthy even for some overage tonnage. – SK Shipping has fixed M/V «Lia,» 68,350 dwt, built 1978, delivery Nov. 10-20 Rotterdam for two years’ trading at 12,500 daily. – On Panamaxes in Pacific, NYK has fixed M/V «Yong Huan,» 74,500 dwt, built 2000, delivery/redelivery Japan Nov. 13-14, trip via USAC, at USD 41,500 daily. – In the Atlantic, Augustea has fixed M/V «Fearless,» 73,427 dwt, built 1997, delivery Italy mid-Nov. for 2 legs, redelivery Far East, at USD 32,250 daily. – On smaller sizes, BHP Billiton has fixed M/V «Basic Reliance,» 29,887 dwt, built 2002, delivery India beg. Nov., trip via Australia, redelivery Far East, at USD 15,950 daily. – On grain cargoes, Conagra has fixed M/V «Alpha Melody» for 55,000 tons of cargo, loading Nov. 8-15 US Gulf, discharging China, at USD 46.50 per ton with 10,000-ton load and 5,000 tons discharge.