ECONOMY

Shipping Report

TANKERS Even quieter conditions in the Med., especially on Suezmaxes, with Exxon having fixed M/T «Desh Shakti» for 130,000 tons of cargo, loading Sept. 25 Egypt, discharging Italy, at W/S 130. – On Aframaxes, despite low activity, rates are holding at W/S 120 for the 80,000-ton round-trip voyages. – In the N. Sea, latest fixtures for 80,000-ton cargoes at W/S 112.5. – Stasco has fixed M/T «Evita,» loading Sept. 15 N. Sea, discharging UKC, at W/S 112.5, while for 100,000-ton cargoes TTMI has fixed M/T «Moscow River,» loading Sept. 18, discharging US Gulf, at W/S 142.5. – In Caribs, rates are even lower than W/S 145. The 70,000-ton round-trip voyages are being fixed at W/S 135. – Hunt has fixed M/T «Continental,» loading Sept. 17 East Coast Mexico, discharging US Gulf, at W/S 135, while Koch for same cargo, loading Sept. 15 with same destination, has fixed M/T «Petrodvorest» at the same levels. – W. African Suezmax rates holding at about W/S 152.5 for transatlantic and W/S 150 for Europe. – VLCC activity very limited, with BP having fixed M/T «Eagle Virginia» for 260,000 tons of cargo, loading Sept. 25, discharging US Gulf, at W/S 107.5, while on Suezmaxes, Petrobras has fixed M/T «Stemnitsa,» loading Sept. 23, discharging Brazil, at W/S 157.5. – On VLCCs and on Arabian Gulf, Sasol for 270,000 tons of cargo, loading Oct. 2, discharging S. Africa, has fixed M/T «New Victory» at W/S 82.5, while Reliance for 260,000 tons of cargo, loading Sept. 16, discharging India, has fixed M/T «Almare» at W/S 90. DRY CARGO Market expects Capesize rates in the Atlantic to move sharply upward after the 11 new quoted cargoes, mostly Brazil to China run. The available vessels with prompt dates are no more than two to four. – Steady rates in Far East, despite the low number of freshly quoted cargoes. – Kleimar on T/C period has fixed M/V «Rubin Grace,» 166,939 dwt, built 1995, delivery UKC for 6-8 months’ trading at USD 67,500 daily, while same charterers have fixed M/V «Meynell,» 185,767 dwt, built 1987, delivery UK, for 4-6 months’ trading at USD 73,000 daily. – On Panamaxes, the emphasis has switched to the East with a number of vessels having been fixed for round-trip voyages. Rates are moving above USD 30,000 daily. – On T/C periods, Sinochart has fixed M/V «Audax,» 75,220 dwt, built 2001, delivery Korea end-Sept. for 11-13 months’ trading at USD 31,000 daily, while BHP has fixed M/V «Katerina,» 76,000 dwt, built 2004, delivery Indonesia Sept. 13-18, redelivery UKC, at USD 33,500 daily.