ECONOMY

Shipping Report

TANKERS Market in the N. Sea is firming, with 80,000-ton and 100,000-ton cargoes cross-trip and out of the Baltic at W/S 140-145. – Petrogal has fixed M/T «P. Maersk» for 80,000 tons of cargo, loading UK Oct. 2-3, discharging Portugal, at W/S 142.5, while Shell has fixed M/T «P. Pavlovsk» for same cargo, loading beg. Oct. Denmark, discharging UKC, at W/S 145. – E. Pet for 100,000-ton cargo, loading Oct. 5-6, discharging UKC, has fixed M/T «Mos Uni» at W/S 140, while Ursa for same cargo, loading Oct. 3-4, same destination, has fixed OSG tonnage at W/S 145. – Med. firming too, but early dates cargoes still being fixed at W/S 130-135 and cargoes with later dates at around W/S 140. – ENI has fixed M/T «G. Progress» for 80,000-ton cargo, loading Sept. 29-30 Libya, discharging Med., at W/S 130, while Sibneft for same cargo, loading end-Sept. Black Sea with same destination, has fixed M/T «Mandelo» at W/S 137.5. – In Caribs, rates as much as W/S 135 mainly due to weather delays in most ports. – Valero has fixed M/T «Mare Tirrenum» for 70,000-ton cargo, loading Oct. 2, discharging US Gulf, at W/S 232.5, while Conoco for same cargo, loading Oct. 4, discharging USAC, has fixed M/T «Min. Alexandra» at W/S 215. – Suezmax rates in W. Africa quieter, with little fresh inquiry. Transatlantic voyages are still being fixed below W/S 140. – BP for 130,000-ton cargo, loading Oct. 14, discharging UKC-Med., has fixed M/T «Lucky Sailor» at W/S 130. – VLCCs out of the area strong but will be impacted by falling Suezmax market. Sinochem has fixed M/T «Soro» for 260,000-ton cargo, loading Oct. 27, discharging China, at W/S 100. – In the Med., rates are firming with last done at W/S 150. – In Arabian Gulf, China Oil for 275,000 tons of cargo, loading Oct. 13, discharging China, has fixed M/T «Astro Callisto» at W/S 125. DRY CARGO Capesize market a bit softer in the Atlantic and Far East. – On T/C periods, Shinwa has fixed M/V «Mineral Tianjin,» 176,000 dwt, delivery China end-Dec. – beg. Jan. 2005, for two years’ trading at USD 46,000 daily. – On Panamaxes, market still firm, with at least nine new orders being quoted in the Atlantic market, three for trips to the East. – Cargill fixed M/V «Alessandra d’Amato,» 74,500 dwt, built 2000, delivery Sept. 24-25, for two legs, redelivery UKC-Med., at USD 34,000 daily, option redelivery Far East at USD 36,000 daily. – In the East, focus remains on the Nopac market, mainly grain shipments with destinations China/Japan. Round-trip voyages being fixed near or over USD 33,000 daily. – L. Dreyfus has fixed M/V «Ioannis Zafirakis,» 73,500 dwt, built 2004, delivery end-Sept. – beg. Oct. Japan, for Nopac round-trip voyage at USD 32,500 daily. – Handymax market firming, especially in US Gulf/USAC area. Ed & F man has fixed M/V «Radiance,» 42,529 dwt, built 1994, delivery US Gulf, redelivery UKC-Med. at USD 27,500 daily.