ECONOMY

Shipping Report

TANKERS Another quiet day with marginal fresh inquiry. – In the Med., it seems that Aframax cargoes are all covered till the end of October. – Petrogal, loading Libya Nov. 4, discharging Portugal, has had no offer yet. – Rates in the area are holding at around W/S 380. – Shell for 80,000 tons of cargo, loading Algeria Oct. 30, discharging US Gulf, has fixed M/T «Zeus» at W/S 280, while Conoco has fixed M/T «Sanko Bright,» loading Syria Nov. 2, discharging Med., at W/S 387.50. – On Suezmax, ExxonMobil for 130,000 tons of cargo, loading Nov. 1 Egypt, discharging Italy, has fixed M/T «Unicorn» at W/S 320. – In the N. Sea, CSSA for 80,000 tons of cargo, loading Oct. 19 N. Sea, discharging UKC, has fixed M/T «Molda» at W/S 330, while Preem has fixed M/T «Natura» at same levels, loading Oct. 30 Denmark, discharging Sweden. – Caribs steady at high levels with a number of fixtures for 70,000-ton round-voyages at W/S 450. – Valero has fixed M/T «Columbia Spirit,» loading Oct. 17 East Coast Mexico, discharging US Gulf, at W/S 450, while Conoco for same cargo, loading Oct. 24 with same destination, has fixed M/T «Four Bay» at same levels. – W. Africa market on Suezmax still very strong and stands at W/S 300 for discharge in Europe. However, like all markets, it needs additionally inquiry to maintain these levels as tonnage is building up for Nov., including the Far East ballasters. – Repsol has fixed M/T «Sonangol Luanda» for 130,000 tons of cargo, loading Oct. 28, discharging Spain, at W/S 305, while Petrobras for same cargo, loading end-Oct., discharging Brazil, has fixed M/T «Nandu» at W/S 300. – In Arabian Gulf, CPC has fixed M/T «Al Shuhadaa» for 265,000 tons of cargo, loading Nov. 10, discharging Taiwan, at WS 215. DRY CARGO Capesize rates still positive in Atlantic and in the East. – Bocimar has fixed M/V «Iron King,» 161,167 dwt, built 1996, delivery Japan, for an Australian round-voyage, redelivery UKC, at USD 48,000 daily, while BHP Billiton, delivery China for same voyage, has fixed M/V «Cape Eagle» at USD 64,000 daily. – On Panamaxes, both markets remain firm, with brokers expecting to rise further. – In the Atlantic, M/V «Panaghia Kastrela,» 64,663 dwt, built 1982, for Atlantic round-voyage, was fixed at USD 30,000 daily, while Cargill has fixed M/V «Amadeus,» 66,916 dwt, built 1984, delivery Italy Oct. 10-20, for two legs at USD 31,500 daily. – In Far East, Bunge has fixed M/V «Ikan Bilis,» 75,729 dwt, built 2004, delivery China Oct. 20-21, for 4-6 months’ trading at USD 36,250 daily.