ECONOMY

Shipping Report

TANKERS The Med. market is steadily firmer, with rates ranging up to W/S 340 for some cargoes out of the Black Sea. – There is a similar picture in the North Sea, with a number of Aframax, Suezmax, and even VLCC fixtures. – BP, for 80,000 tons of cargo, loading Oct. 14 Norway, discharging UKC, has fixed M/T «Hanne Knutsen» at W/S 315, while CSSA, for 100,000 tons of cargo, loading Oct. 28, with same destination, has fixed M/T «Moscow River» at W/S 305. – On Suezmax, Clearlake, for 135,000 tons of cargo, loading Nov. 1, discharging US Gulf, has fixed M/T «Wilana» at W/S 270, while on VLCCs, Conoco has fixed M/T «Astipalaia» for 280,000 tons of cargo, loading Oct. 30, discharging ECC, at W/S 210. – In Caribs, Maraton has fixed M/T «Kazan» for 70,000 tons of cargo, loading Oct. 14 East Coast Mexico, discharging US Gulf, at W/S 325. – In West Africa on Suezmax, Cepsa has fixed M/T «Four Sun» for 130,000 tons of cargo, loading Nov. 1, discharging Spain, at W/S 275, while Navion, for same cargo, loading Nov. 10, discharging US Gulf, has fixed M/T «Venetia» at W/S 285. – In the Med. and on Aframax, Alpine has fixed M/T «Mandelo» for 80,000 tons of cargo, loading Oct. 10 Black Sea, discharging Med., at W/S 280, while on Suezmax, Petrogal, for 135,000 tons of cargo, loading Oct. 26 Turkey, discharging Portugal, has fixed M/T «Iran Saveh» at W/S 252.5. – In the Arabian Gulf, Vela, for 285,000 tons of cargo, loading Nov. 1, discharging US Gulf, has fixed M/T «Courtenay Bay» at W/S 122.5. DRY CARGO Despite the Chinese holidays, the market in the East is quite active, with charterers/owners/operators providing new business and working vessels. – Rates are expected to rise while early tonnage has been absorbed. – The picture in the Atlantic is similar, with Mol Navix having fixed for 170,000 tons of iron ore, loading Brazil end Oct.-beg. Nov., discharging Korea, at USD 28.39 per ton. – On Panamaxes, several ships were reportedly fixed, with some having agreed to improved rates. – In the East, the market has been slower, but there is still a reasonable volume of inquiry. – On Panamaxes in the Atlantic, Seven Mountains has fixed M/V «Ribbon,» 74,522 dwt, built 1998, delivery Amsterdam, for 16-18 months’ trading at USD 32,600 daily. – On T/C periods in Far East, Bottiglieri has fixed M/V «Pos Courage,» 76,801 dwt, built 2004, delivery Oct. 10-15 Taiwan, for 23-25 months’ trading at USD 26,250 daily.