ECONOMY

Shipping Report

TANKERS Stable rates in the Med., with a number of Aframax cargoes near or above W/S 400. – Petrogal, for 80,000 tons of cargo, loading November 2 Egypt, discharging Portugal, has fixed M/T «Merbabu» at W/S 400, while Sun, for same cargo, loading November 1 Algeria, discharging USAC, has fixed OSG tonnage at W/S 397.5. – Very strong rates for Suezmaxes too. Black Sea cargoes are fixed above or around W/S 350. – Sibneft has fixed M/T «Spetses» for 135,000 tons of cargo, loading November 5 Black Sea, discharging UKC-Med., at W/S 350, while Shell, for same cargo, loading November 20, discharging US Gulf, has fixed M/T «Wilmia Yangtze» at W/S 280. – In N. Sea, Dukkar, for 100,000 tons of cargo, loading November 6, discharging UKC, has fixed M/T «Nordic Svenita» at W/S 320. – In Caribs, Marathon has fixed M/T «Four Bay» for 70,000 tons of cargo, loading October 27 Colombia, discharging US Gulf – Atlantic, at W/S 385. – In W. Africa, Sun, for 130,000 tons of cargo, loading November 12, discharging USAC, has fixed M/T «Virgo Voyager» at W/S 270, while Repsol, for same cargo, loading mid-November, discharging Spain, has fixed M/T «Genmar Macedon» at W/S 280. – In Arabian Gulf, Bangchak, for 130,000 tons of cargo, loading November 6, discharging Thailand, has fixed M/T «Gandhar» at W/S 280. DRY CARGO Capesize market remains firm in the Atlantic, with a good level of inquiry for November dates. – Noble has fixed M/V «Meynell,» 185,668 dwt, built 1997, delivery November 1-5 Portugal, trip via Brazil, redelivery China, at USD 90,000 daily. – In Far East, M/V «Carouge,» 149,518 dwt, built 1992, delivery China end-October, for Pacific round, was fixed at USD 59,000 daily. – On Panamaxes, the Atlantic market seems to have reached a plateau at very firm levels, although vessels in ballast do not see quite as much business as they would like. – The Pacific market appears quieter, with little new activity. The freight rates which are still being negotiated are around USD 40,000 daily. – Norden has fixed M/V «Dione,» 75,172 dwt, built 2001, delivery Far East end-November – beginning December, for 1 year’s trading at USD 33,000 daily. – In Atlantic, China Steel Express has fixed M/V «Csk Eminence,» 73,606 dwt, built 1997, delivery end-October France, trip via Brazil, redelivery Taiwan, at USD 39,500 daily. – On smaller sizes, Armada has fixed M/V «Golden Hope,» 38,888 dwt, built 1986, delivery Mexico end-October, redelivery W. Coast Canada, at USD 30,000 daily.