ECONOMY

Shipping Report

TANKERS Med. market steady with marginal fresh inquiry. The 80,000-ton cargoes are still being fixed at W/S 120-125. Vitol has fixed M/T «Isabella,» loading Black Sea Sept. 19, discharging Med., at W/S 120, while Erg for same cargo, loading Sept. 18, discharging Italy, has fixed M/T «Mandelo» at W/S 122.5. N. Sea on same course, with dates of new quoted cargoes for the third part of the month. Rates are hovering around W/S 115. Exxon has fixed Lundqvist tonnage, loading East Coast UK Sept. 22, discharging UKC, at W/S 115, while Navion has fixed M/T «Fortum,» loading Sept. 20, discharging Sweden, at W/S 120. Caribs starting to pick up after Monday’s US holiday. The 70,000-ton cargo liftings still being fixed at W/S 145. Suezmax market in the Med. at W/S 145. CSSA for 135,000 tons of cargo, loading Sept. 10 Turkey, discharging UKC-Med., has fixed M/T «Georgios S» at W/S 145, while Ursa for same cargo, loading Sept. 27 with same destination, has fixed Minerva tonnage at W/S 150. Ursa for 135,000 tons of cargo, loading Sept. 26, discharging UKC-Med., has fixed Thenamaris tonnage at W/S 140. On VLCCs and on Arabian Gulf, Stasco for 270,000 tons of cargo, loading Sept. 28, discharging Red Sea, has fixed M/T «Front Stratus» at W/S 89.5, while LGC has fixed M/T «Asian Progress III,» loading Sept. 19-20, discharging Korea at W/S 82.5. DRY CARGO Capesize rates in the East appear steadier, with talk of the 149,391 dwt, built 1993, Bocimar Releta M/V «Montego II» fixing for prompt delivery Japan to Sinochart for a trip via Australia to China at USD 60,000 daily. In the Atlantic, several of the early ships have now been fixed. Hanjin eventually fixed the M/V «Tian Rong Hai,» 172,000 dwt, built 2000, for retroactive delivery sailing Sept. 3 from Rotterdam for a Brazil/China run at USD 72,000 daily, while Mol Navix has still on subs M/V «Ocean Dragon,» 150,149 dwt, built 1995, delivery Redcar Sept. 21, for a trip via Brazil to Japan at around USD 70,000 daily. The slow start for Panamaxes continues. Rates in the East are steady but expected to firm on anticipated grain cargoes from Australia. In the Atlantic, there is some fresh interest from mineral charterers, while owners are claiming that some grain houses are showing interest in early ships. In Far East and on Panamaxes, Glory Wealth has fixed M/V «Angelic Power,» 74,764 dwt, built 2002, delivery Japan trip via Roberts Bank, redelivery China, at USD 30,000 daily. In Atlantic, Oldendorff has fixed M/V «Fu Man,» 71,349 dwt, built 1997, delivery Passero mid-Sept., for 2 legs via Black Sea, redelivery Far East, at USD 34,000 daily. On smaller sizes, Hawknet has fixed M/V «Star Evanger,» 44,169 dwt, built 1984, delivery Germany Sept. 8-10 trip via Baltic, redelivery Arabian Gulf at USD 25,000 daily.