ECONOMY

Shipping Report

TANKERS The market is very firm in Caribs, with rates hovering around W/S 330 for the 70,000 tons round voyages. – Marathon has fixed Genmar tonnage, loading October 7, discharging US Gulf, at W/S 332.5, while Valero has fixed M/T «Chemtrans Lyra,» loading October 5 with same destination, at W/S 325. – In the Mediterranean, the market is almost stable at the high numbers already achieved. The 80,000-ton cargoes are fixed between W/S 220 and 230, depending on loading dates and actual voyages. – Vitol has fixed M/T «Iran Amol,» loading October 16 Black Sea, discharging Mediterranean, at W/S 230. – In the North Sea, CSSA for 80,000 tons of cargo, loading October 13, discharging UKC, has fixed M/T «Hanne Knutsen» at W/S 190, while Sibneft for 100,000 tons of cargo, loading October 17, discharging UKC, has fixed Stentex tonnage at W/S 175. – In West Africa, Sun and Enap have teamed up in the market well over W/S 200 due to tight dates and a short supply of tonnage. – As we said previously, Sun has fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading October 27, discharging USAC, at W/S 195. – In the North Sea, Suezmaxes are showing little action. However, rates are expected to follow the Mediterranean and West Africa trend. – On VLCCs in the Arabian Gulf, Vitol has fixed M/T «Prem Putli» for 270,000 tons of cargo, loading October 23, discharging East Coast Canada, at W/S 115. DRY CARGO The Capesize market in the Atlantic looks tighter, with only two early ships waiting to be absorbed. – Hanjin has fixed M/V «Cape Venus,» 172,612 dwt, built 1996, delivery UK October 10-12, trip via Brazil, redelivery Far East, at USD 74,000 daily. – In the East, there are few ships in ballast but generally of the older type or of a smaller variety. – Market seems quieter and quicker due to Korean holidays. Swiss Marine has fixed M/V «Star Zuluy,» 170,698 dwt, built 1986, delivery Philippines end-September, trip via South Africa, redelivery UKC, at USD 37,000 daily. – On Panamaxes in the Atlantic, NNC is rumored to have several ships on subjects, but little else has emerged. – Grant has fixed M/V «Konkar Maroula,» 72,126 dwt, built 1997, delivery end-September Passero, for 2 legs, redelivery UKC-Med., at USD 33,750 daily. – In the Far East, Pan Ocean has fixed M/V «Brave Unity,» 69,124 dwt, built 1996, delivery Japan end-September, for Pacific round at USD 33,500 daily.