ECONOMY

Shipping Report

TANKERS VLCCs remain firm and in good demand from the Arabian Gulf. – Suezmaxes also at high rates on the back of the firm VLCC market. – In the Med., rates are fixed at W/S 160, depending on cargo load, while West Africa is being negotiated at less than W/S 150 for 130,000-ton cargoes. – Aframaxes are steady in all areas, with modern tonnage out of Black Sea at W/S 210-215 and normal cross-Med. cargoes at W/S 185. – In the Cont., 100,000-ton cargoes out of the Baltic are being fixed at W/S 160, while normal rounds are at W/S 180. – In Caribs, the 70,000-ton cargo liftings are trading between W/S 207.5 and 215. – In the Med., Repsol for 80,000 tons of cargo, loading November 23 Syria, discharging Spain, has fixed M/T «Framura» at W/S 200. – In the Cont., BP has fixed M/T «Gerrita» for 80,000 tons of cargo, loading November 18 UK, discharging UKC, at W/S 180. – In Caribs, Conoco has fixed M/T «Sea Transport» for 70,000 tons of cargo, loading November 20, discharging US Gulf, at W/S 224. – In Arabian Gulf, SCI has fixed M/T «Ionikos» for 118,000 tons of cargo loading December 1, discharging India, at W/S 124. DRY CARGO Spot trading in Capers remains limited, while emphasis is focused on period tonnage. – Cosco has fixed M/V «An Angel Eternity,» 171,176 dwt, built 1999, delivery Far East for 18-20 months’ trading at USD 51,000 daily. – On Panamaxes, the slow start continues with very few reported fixtures. Period rates are still at healthy levels. – In the Atlantic, Bottiglieri with delivery Passero mid-November for 2-3 legs, has fixed M/V «Artemis,» 68,788 dwt, built 1990, at USD 30,000 daily. – In the East and on T/C trips, Mol Navix has fixed M/V «Bandai,’ 70,521 dwt, built 1998, delivery China, trip via Indonesia, redelivery Japan, at USD 42,000 daily. – The market on Handies/Handymaxes of the US Gulf is steady, with Bunge Rome having fixed M/V «Equinox Seas,» 51,000 dwt, built 2003, delivery US Gulf mid-November, redelivery Med., at USD 21,500 daily.