ECONOMY

Shipping Report

TANKERS Market remains depressed in the Mediterranean, with Aframax rates not exceeding W/S 120-125. – Petrogal just fixed M/T «Pantelis» at W/S 120, while ENI, for their cargo with dates September 22-24, is expected to fix at similar levels. – Quiet market in the North Sea as well, with 80,000 tons of cargoes fixed at W/S 110-112.5. The 100,000-ton cargo liftings out of Baltic are fixed at W/S 112.5. – Exxon has fixed M/T «Natura» for 80,000 tons of cargo, loading September 20, discharging UKC, at W/S 110, while Lukoil has fixed M/T «P. Pavlovsk» for 100,000 tons of cargo, loading September 24-25 with same destination, at W/S 112.5. – In the Mediterranean, Repsol for 80,000 tons of cargo, loading September 20 Libya, discharging Spain, has fixed M/T «Framura» at W/S 122.5. – In Caribs, Valero has fixed M/T «Astro Altair,» for 70,000 tons of cargo, loading September 8 East Coast Mexico, discharging US Gulf, at W/S 135, while Conoco has fixed M/T «Olympic Spirit,» for same cargo, loading September 9 with same destination, at W/S 155. – Suezmax rates in West Africa are holding at W/S 150s. Exxon has fixed M/T «Genmar Macedon» for 130,000 tons of cargo, loading October 2, discharging East Coast Canada, at W/S 155, while Chevtex for same cargo, loading October 2, discharging UKC, has fixed M/T «Astro Cassiopeia» at W/S 150. – In Arabian Gulf, PTT has fixed M/T «Al Shegaya» for 275,000 tons of cargo, loading September 28, discharging Thailand, at W/S 87.5. DRY CARGO Capesize market in the East definitely healthier. – Their BIFFEX index has improved also by 71 points, totaling 5,574. – Baotrans has fixed M/V «Mineral Poterne,» 172,091 dwt, built 1997, delivery September 13 China, for Australian round at USD 66,000 daily. – On T/C period, M/V «Aquagrace» open in China September 11-14, was fixed at USD 60,000 daily for eight-10 months’ trading. – On Panamaxes, early position tonnage in Atlantic is receiving easier rates. Vessels with later dates are receiving stronger freight rates. – Cosbulk has fixed M/V «Mariejeannie,» 74,410 dwt, built 2001, delivery mid-September Spain, trip via US Gulf, redelivery China, at USD 35,000 daily. – In the East, same vessels are fixed around USD 30,000 daily for either round voyages or for return to the Atlantic. – Cargill has fixed M/V «Samjohn Liberty,» 74,761 dwt, built 1998, delivery end-September China, redelivery Japan, at USD 30,000 daily. – On smaller sizes, Oldendorff has fixed M/V «Lisa J,» 40,461 dwt, built 1985, delivery end-September Spain, trip via West Africa, redelivery Black Sea, at USD 25,000 daily.