ECONOMY

Shipping Report

TANKERS A little more activity in the Med. as charterers enter the market for their end of the month stems out of the Med. and Black Sea. Rates at W/S 125 and W/S 130 respectively. – Vitol for 80,000 tons of cargo, loading Sept. 27, discharging Med., has fixed M/T «Valbrunna» at W/S 132.5, while Eni for same cargo, loading Sept. 23-25 Libya, discharging Italy, has fixed M/T «Nissos Christiana» at W/S 124. – In the N. Sea, rates appear steady but there are signs of an anticipated busier end-month position. – Preem has fixed M/T «Natura» for 80,000 tons of cargo, loading Sept. 24, discharging Sweden, at W/S 115. – Caribs still at low levels, with Valero having fixed M/T «Astro Altair» for 70,000 tons of cargo, loading Sept. 16 East Coast Mexico, discharging US Gulf, at W/S 135, while Ursa for same cargo, loading Sept. 22 with same destination, has fixed M/T «Althea» at W/S 137.5. – On smaller sizes, Chevtex has fixed M/T «Andes» for 50,000 tons of cargo, loading Sept. 22, discharging USAC, at W/S 220, while Conoco for same cargo, loading Sept. 17, discharging US Gulf, has fixed M/T «Giorgios Nikolaos» at W/S 235. – On Suezmaxes, W. African market seems easier, with Sun having fixed M/T «Da Ming Hu» for 130,000 tons of cargo, loading Oct. 9, discharging USAC, at W/S 145. – In Arabian Gulf and on VLCCs, S. Oil for 270,000 tons of cargo, loading Oct. 3, discharging Korea, has fixed M/T «Cosglory Lake» at W/S 83.5. DRY CARGO Capesize market still very active, with the list of cargoes in the Atlantic getting longer with destinations to China, but it remains to be seen how many stems of these cargoes are firm. – Panamax market appears steady in both areas, and there are a number of very interesting fixtures. – Transbulk has fixed M/V «Samjohn Amity,» 74,744 dwt, built 1998, delivery Skaw Sept. 22, for two legs in the Atlantic basin at USD 37,000 daily. – In Far East, Cargill has fixed M/V «Sydney King,» 68,800 dwt, built 1988, delivery Japan, for a round-trip voyage at USD 30,500 daily. – In the Atlantic, Bunge has fixed M/V «Kavo Topaz,» 75,499 dwt, built 2004, delivery France mid-Sept., trip via East Coast S. America, redelivery Sri Lanka, at USD 33,000 daily option, redelivery Far East, at USD 35,000 daily.