ECONOMY

Shipping Report

TANKERS A quiet start to the week with some cargoes still for fixing from last week. – In the Med., the 80,000-ton cargoes are being fixed at W/S 380, and at W/S 330 in the N. Sea. – In Caribs, market has moved sharply upward with 70,000-ton cargo liftings being fixed at W/S 450. – In the Med., BP has fixed M/T «Coral Sea» for 80,000 tons of cargo, loading Oct. 25 Algeria, discharging Med., at W/S 360, while Saras for same cargo, loading Oct. 14 Libya, discharging Italy, has fixed M/T «Athina M» at W/S 395. – In the Cont., CSSA for 80,000 tons of cargo, loading Oct. 23 N. Sea, discharging UKC, has fixed M/T «Young Lady» at W/S 330, while Navion for same cargo, loading Oct. 29 with same destination, has fixed M/T «Nordic Svenita» at same levels. – In Caribs, Valero for 70,000 tons of cargo, loading East Coast Mexico, Oct. 19, discharging US Gulf, has fixed M/T «Althea» at W/S 410, while Chevtex for same cargo, loading Nov. 10 with same destination, has fixed M/T «Srascout» at W/S 450. – W. African market on Suezmaxes, although quiet, still has European cargoes in play at rates above W/S 300. – N. Sea very firm in the high W/S 200s but with little fresh inquiry. – Med. at W/S 300, with Stasco having fixed Alliance tonnage for 130,000 tons of cargo, loading Oct. 28 Algeria, discharging US Gulf, at W/S 290. – On VlCCs out of W. Africa, Chevtex has fixed M/T «Amantea» for 260,000 tons of cargo, loading Nov. 10, discharging US Gulf, at W/S 230. – In Arabian Gulf, Stasco for 270,000 tons of cargo, loading Nov. 14, discharging Singapore, has fixed M/T «Suva» at W/S 215. DRY CARGO A slow start to the week, with owners expecting the market to continue moving forward. – In the Atlantic, large Capesize vessels are now talking over USD 90,000 daily, with destinations for the Far East. – A Kleimar Relet tonnage, 185,688 dwt, built 1985, was fixed out of Sines for a trip to the East at USD 89,000 daily, however brokers are saying that the vessel failed on subs and is asking over USD 90,000 daily for the same run. – In the East, BHP Billiton has fixed M/V «Cape Eagle,» 161,475 dwt, built 1993, delivery Oct. 22 Philippines, for Australian round trip at USD 64,000 daily. – Similar is the picture for the Panamaxes in both areas. Owners are not in a hurry to fix their tonnage, predicting higher freight rates. – In the Far East, Augustea has fixed M/V «Cos Intrepid,» 74,119 dwt, built 2001, delivery China mid-Oct., trip via India, redelivery Italy, at USD 28,500 daily. – In the Atlantic, Cargill has fixed M/V «Maja Vestida,» 70,213 dwt, built 1994, delivery Morocco Oct. 15-17, trip via East Coast S. America, redelivery UKC, at USD 35,750 daily.