ECONOMY

Shipping Report

TANKERS Mediterranean with more Aframax cargoes. However, due to tonnage supply, rates have not moved significantly upward. – The 80,000-ton round-trip voyages in the Mediterranean / Black Sea are being fixed at W/S 125 – W/S 135, respectively. – More cargoes in the North Sea too. Rates stable at W/S 115 for both 80,000 and 100,000-ton cross UK / Baltic Sea cargoes respectively. – CSSA has fixed Lundqvist tonnage for 80,000 tons of cargo, loading East Coast, UK September 26-27, discharging UKC, at W/S 115, while Exxon for same cargo, loading end September, with same destination has fixed M/T «N. Yukon» at same levels. – Sibneft for 100,000 tons of cargo, loading September 27, discharging UKC, has fixed M/T «Krasnodar» at W/S 115. – Increased demand for Suezmaxes and VLCCs out of West Africa. Rates are holding. – Irving has fixed M/T «Genmar Phoenix» for 130,000 tons of cargo, loading October 13, discharging Eccanada, at W/S 142.5, while CSSA for same cargo, loading October 3, discharging US Gulf, has fixed M/T «Voyager» at same levels. – On VLCCs, Kangqi has fixed M/T «Iran Dena,» loading October 16, discharging China, at W/S 98.75. – In Arabian Gulf, Shell has fixed M/T «F.P. Challenger» for 270,000 tons of cargo, loading October 7, discharging Far East, at W/S 94. DRY CARGO Enough Capesize cargoes still exist, mainly from Atlantic with destinations East. However, brokers are talking of enough ships being open in the area, matching comfortably the list. Rates are stable. – In the East, rates also stable, with Sealink having fixed M/V «Lowlands Beilun,» 170,162 dwt, built 1999, for a round-trip voyage at USD 70,000 daily. – Increased number of Panamaxes being fixed in the Atlantic as well as in the Far East. – In the Atlantic, rates for round-trip voyages as well as for destinations East are hovering around USD 30,000 daily. – However, the fixture of M/V «Giuseppe d’Amato,» 75,300 dwt, built 1995, by Medmar is interesting, as due to prompt delivery dates, it was fixed at USD 38,000 daily, delivery UKC trip via Baltic, redelivery UKC-Med. – In Far East and on T/C periods, Norden has fixed M/V «Angelic Glory,» 75,007 dwt, built 2002, delivery end September China, for short T/C period at USD 35,000 daily. – In Atlantic, Bottiglieri has fixed M/V «Ribbon,» 74,522 dwt, built 1998, delivery October 1-15 UKC, for 14-16 months’ trading at USD 31,000 daily.