ECONOMY

Shipping Report

TANKERS Med. market is taking a breath after the improvement of over W/S 100 points in the last two or three days. – N. Sea seems ready to follow Med.’s rally, with a number of cargoes with late Oct. loading dates. – High freight rates are still being paid to the Aframaxes in Caribs. – Chevtex has fixed M/T «Baltic Sea,» for 70,000 tons of cargo, loading Oct. 18, discharging US Gulf, at W/S 360, while Valero, for same cargo, loading East Coast Mexico, with same destination, has fixed M/T «Petrozadovsk» at same levels. – On Suezmax in W. Africa, Sun has fixed M/T «Genmar Kestrel,» for 130,000 tons of cargo, loading mid-Oct., discharging USAC, at W/S 290, while on VLCCs, CSSA, for 260,000 tons of cargo, loading mid-Oct., discharging US Gulf, has fixed M/T «Overseas Chris» at W/S 210. – In the Med. and on Aframax, ENI, for 80,000 tons of cargo, loading mid-Oct. Black Sea, discharging Med., has fixed Minerva tonnage at W/S 350. – In the N. Sea, BP has fixed M/T «Channel Dragon,» for 80,000 tons of cargo, loading Oct. 18, discharging UK, at W/S 312.5. – On VLCCs in Arabian Gulf, LG Caltex has fixed M/T «Formosa P Chall,» for 270,000 tons of cargo, loading end Oct., discharging S. Korea, at W/S 170, while S. Oil, for same cargo, loading end Oct., same destination, has fixed M/T «Millenium» at W/S 170. DRY CARGO Stronger rates on Capers in the Atlantic and in the East too. – NKK type in the Atlantic was fixed for a trip to the East at USD 83,000 daily. – M/V «Thalassini Avra,» 164,218 dwt, built 2001, was fixed by Daiichi, delivery France Oct. 15, redelivery Far East, at USD 73,000 daily. – In the East, Hanjin has fixed M/V «Bulk Europe,» 169,770 dwt, built 2001, delivery China end Oct., for 4-6 months’ trading at USD 62,000 daily, while BHP Billiton, delivery China too, for Australian round, has fixed M/V «Heng Shan,» 169,168 dwt, built 1999, at USD 60,000 daily. – Panamax market remains strong in the Atlantic, with several ships having been fixed and showing significant activity on the US Gulf / China run. – A mixed picture in the East, with rates ranging from encouraging to disappointing. – Cargill relet Oldendorff M/V «Asia Graeca,» 73,900 dwt, built 2004, delivery mid-Oct. Japan, for Nopac round at USD 31,500 daily. – In the Atlantic, Pan Ocean has fixed M/V «Wina,» 68,355 dwt, built 1988, delivery US Gulf Oct. 18-25, redelivery Far East, at USD 36,000 daily and USD 600,000 ballast bonus. – On smaller sizes, Eitzen bulk Carriers has fixed M/V «Coral Gem,» 45,320 dwt, built 1995, delivery China end Oct., redelivery India, at USD 24,000 daily.