ECONOMY

Shipping Report

TANKERS Very active week for VLCCs, with at least 35 vessels being fixed out of the Arabian Gulf. The 280,000-ton cargoes while early on were fixed at W/S 80, by the end of the week were fixed at W/S 100. – Vela for 285,000 tons of cargo, loading Oct. 5 Libya, discharging US Gulf, has fixed M/T «Maritime Jewel» at W/S 100, while same charterers have fixed M/T «Univ. Peace» for same cargo, loading Oct. 14 with same destination, at W/S 102.5. – Marathon for 275,000 tons of cargo, loading Oct. 15, discharging US Gulf, has fixed M/T «Ascona» at W/S 100. – Similar was the picture in W. Africa, with Sinochem having fixed M/T «Starlight Jewel» for 260,000 tons of cargo, loading Oct. 22, discharging China, at W/S 100. – Quieter conditions for Suezmaxes. – W. Africa rates for transatlantic cargoes around W/S 140, while in the Med. rates are hovering around W/S 135. – Shell for 130,000 tons of cargo, loading W. Africa Oct. 10, discharging US Gulf, has fixed M/T «Endless» at W/S 137.5, while in the Med., Chevtex for 135,000 tons of cargo, loading Oct. 1, discharging UKC-Med., has fixed M/T «SCF Sayan» at W/S 137.5. – Stable conditions on Aframaxes in the Med., with the 80,000-ton cargo liftings being fixed at W/S 125-130. – In the N. Sea and on 100,000-ton cargoes out of the Baltic, Sibneft has fixed M/T «Krasnodar,» loading Sept. 27, discharigng UKC, at W/S 122.5, while Lukoil for same cargo, loading Oct. 4, discharging UKC, has fixed M/T «Stena Confidence» at W/S 125. – Sibneft has fixed M/T «Four Bay» for 80,000 tons of cargo, loading Sept. 24 Baltic, discharging US Gulf, at W/S 145. – In Caribs, Valero for 70,000 tons of cargo, loading end-Sept. East Coast Mexico, discharging US Gulf, has fixed M/T «Olympic Spirit II» at W/S 145. DRY CARGO A quiet start with early Capesize vessels in the Atlantic accepting lower numbers in order to be fixed, however agreed period rates are still strong. – M/V «Aquajoy,» 170,000 dwt, built 2003, delivery Rotterdam end-Sept., was fixed at USD 70,000 daily for 6-8 months’ trading. – Round-trip voyages in the East are being fixed above USD 60,000 daily. Coeclerici has fixed M/V «An Angel Solidarity,» 161,643 dwt, built 1993, delivery beg. Oct. Japan, for Australian round-trip voyage, redelivery China, at USD 62,000 daily. – On Panamaxes in the Atlantic, China Steel Express has fixed M/V «Navios Galaxy,» 74,195 dwt, built 2001, delivery Oct. 1-5, redelivery Taiwan, at USD 36,000 daily. – On smaller sizes, Sojitz has fixed M/V «Henry Oldendorff,» 26,045 dwt, built 1997, delivery Korea end-Sept. trip via China, redelivery Japan, at USD 21,000 daily.