ECONOMY

Shipping Report

TANKERS High numbers in the Med. for all sizes. – The 80,000-ton cargoes are being negotiated at W/S 400-460 depending on duration of voyages and dates of loadings, while Suezmaxes out of Black Sea are at W/S 340 and W/S 360 for cross-Med. cargoes i.e. Libya-Italy. – In the Med., Saras has fixed M/T «Olympia,» for 80,000 tons of cargo, loading end-Oct., discharging Italy, at W/S 450, while Erg, for same cargo, loading Nov. 1 Libya with same destination, has fixed M/T «Coral Sea» at W/S 427.5. – On Suezmax, Tamoil, for 130,000 tons of cargo, loading Nov. 6 Libya, discharging Med., has fixed M/T «Unicorn,» at W/S 360, while Sun, for same cargo, loading Algeria end-Oct., discharging USAC, has fixed M/T «SKS Sinni» at W/S 285. – In the N. Sea, Vitol, for 100,000 tons of cargo, loading Oct. 30, discharging UKC-Med., has fixed M/T «Prospect» at W/S 292.5. – Suezmaxes rates in W. Africa are holding at high W/S 200 while tonnage appears slim. It is almost certain that we will see another attempt to break W/S 300. – Sun, for 130,000 tons of cargo, loading Nov. 12, discharging USAC, has fixed M/T «Virgo Voyager» at W/S 270, while Repsol has fixed M/T «Genmar Macedon» for same cargo, loading mid-Nov., discharging Spain, at W/S 280. – N. Sea firm but limited activity, while Ouf of A.G. rates are around W/S 240 with destination East. – In Arabian Gulf, TPI, for 130,000 tons of cargo, loading Nov. 7, discharging Thailand, has fixed alliance tonnage at W/S 242.5. DRY CARGO Charterers on Capers especially in the East are talking the market lower, avoiding quoting all their cargoes in the area. – In the Atlantic, rates are steady but brokers are warning that their ships might accept lower rates. – Glory Wealth has fixed M/V «Vergina I,» 194,690 dwt, built 1981, delivery China end-Oct., for Australian round at USD 65,000 daily. – In the Atlantic, Dabcomar has fixed M/V «Kwk Exemplar,» 169,300 dwt, built 2001, delivery Amsterdam end-Oct., trip via Brazil, redelivery Turkey, at USD 74,500 daily. – Interesting market for Panamaxes too. All round voyages are being negotiated at about USD 40,000 daily and these are the prevailing rates for the short T/C periods too. – BHP Billiton has fixed M/V «Miltiadis IIm» 72,400 dwt, built 1999, delivery Hong Kong end-Oct.m for 3-5 months’ trading at USD 37,500 daily. – In Atlantic, Kleimar has fixed M/V «Santa Margherita,» 75,597 dwt, built 2002, delivery Oct. 21-31 France, for 1 year’s trading at USD 36,000 daily. – On smaller sizes, SK Shipping has fixed M/V «Free Champion,» 45,116 dwt, built 1985, delivery end-Oct. Vietnam, redelivery UKC, at USD 23,000 daily.