ECONOMY

Shipping Report

TANKERS An extremely quiet start to the week with hardly any new cargo having been quoted. – In the Mediterranean, ENI for 80,000 tons of cargo, loading September 22 Libya, discharging Italy, has fixed M/T «Sinova» at W/S 120. – The picture is similar in the North Sea. The modern Aframax have been fixed around or less W/S 115. – Murphy, for 80,000 tons of cargo, loading end-September Norway, discharging UKC, has fixed M/T «Astro Sirius» at W/S 115, while CSSA for same cargo, loading September 14, discharging UKC, has fixed M/T «Stena Conductor» at W/S 107.5. – In Caribs, Valero has fixed M/T «Akaki» for 70,000 tons of cargo, loading end-September, discharging US Gulf, at W/S 135, while Stasco, for same cargo, loading September 20 Colombia, discharging Puerto Rico, has fixed M/T «Parnaso» at W/S 145. – On Suezmaxes, Mediterranean quite low with Tamoil having fixed M/T «Alan» for 130,000 tons of cargo, loading September 25, discharging Italy, at W/S 130, while on VLCCs, Valero, for 260,000 tons of cargo, loading October 8 Algeria, discharging US Gulf, has fixed M/T «Patris» at W/S 105. – In West Africa, ENAP has fixed M/T «SCF Caucasus,» for 130,000 tons of cargo, loading October 5, discharging Chile, at W/S 160, while on VLCSs, Shell, for 260,000 tons of cargo, loading October 8, discharging US Gulf, has fixed M/T «Astro Centaurus» at W/S 107.5. DRY CARGO Capesize activity is dominated by Chinese interests. – In the front-haul business, charterers are willing to pay upper USD 70,000 daily for trips to the East, with owners holding out for above USD 80,000 daily. – Their index reacted accordingly, having gained 96 points by last Friday, totaling 5,779. – A positive picture for Panamaxes too in both areas. Rates, however, have been raised gradually. – In the Atlantic, a modern lME was fixed for a transatlantic voyage with minerals at USD 33,750 daily. – In the Far East, M/V «Fearless,» 73,427 dwt, built 1997, was fixed by Chinese charterers, delivery Japan, for Pacific round at USD 32,500 daily. – In Atlantic, Cargill has fixed M/V «Alpha Melody,» 74,374 dwt, built 2002, delivery UKC mid-September, for two legs at USD 30,250 daily. – On smaller sizes, Bunge has fixed M/V «Marigold,» 46,475 dwt, built 1982, delivery end-September US Gulf, trip via Red Sea, redelivery Egypt, at USD 25,000 daily.