ECONOMY

Shipping Report

TANKERS Even firmer conditions, especially in the Mediterranean, with rates ranging from W/S 280 to W/S 310 depending on dates and loading area. – The picture is similar in the North Sea, with a number of cross-UK/Cont. cargoes, while in Caribs, the latest 70,000-ton round-voyages are fixed above W/S 320. – In the Mediterranean, ENI, for 80,000 tons of cargo, loading Oct. 19 Egypt, discharging Mediterranean, has fixed M/T «Apanemo» at W/S 280, while Gunvor, for same cargo, loading Oct. 20 Russia, with same destination, has fixed at same levels. – In the Cont., M/T «Aegean Spirit,» for 80,000 tons of cargo, loading Oct. 20, discharging UKC, was fixed at W/S 330, while in Caribs, Marathon has fixed M/T «Tsunami,» for 70,000 tons of cargo, loading Oct. 14 East Coast Mexico, discharging US Gulf, at W/S 325. – West Africa Suezmax market seems to be taking a breather, with last fixing being that by ExxonMobil of M/T «Nikator,» with date Nov. 6, discharging US Gulf, at W/S 265. – VLCCs out of the same area are fixed at W/S 210 for transatlantic voyages and at W/S 160 with destination East. – North Sea remains firm with little fresh action while rates are still in mid W/S 200s. – In the Mediterranean, BP for 135,000 tons of cargo, loading Oct. 26, discharging Mediterranean, has fixed M/T «SCF Sayan» at W/S 270, while Chevtex for same cargo, loading Oct. 22, with same destination, has fixed M/T «Searacer» at W/S 250. – In Arabian Gulf, Shell, for 275,000 tons of cargo, loading Nov. 4, discharging Far East-UKC, has fixed M/T «Marjan» at W/S 175 – W/S 127.5 respectively. DRY CARGO Capesize market appears to be settling into a waiting period while most of the early ships have been absorbed. – In the East, Swiss Marine has fixed M/V «Ata,» 194,226 dwt, built 1985, delivery mid-Oct., trip via South Africa, redelivery Rotterdam, at USD 40,000 daily. – Panamax market on a more positive note, with Chinese, although officially on holiday, still trading cargoes out of Atlantic as well as in the Far East area. – On T/C periods, M/V «Angelic Power,» 74,764 dwt, built 2002, delivery Oct. 10 China, for 4-6 months’ trading, was fixed at USD 35,000 daily, while M/V «Ribbon,» 74,522 dwt, built 1998, delivery Amsterdam, and for 16-18 months’ trading, was fixed at USD 32,000 daily. – On Handy/Handymax, Eitzen bulk carriers have fixed M/V «Bibi M,» 47,879 dwt, built 1984, delivery US Gulf mid-Oct., redelivery West Coast UK, at USD 30,000 daily. – On smaller sizes, M/V «Aristeas P,» 38,263 dwt, built 1984, delivery Argentina Oct. 5-10, redelivery East Africa, was fixed at USD 23,520 daily with USD 350,000 ballast bonus.