ECONOMY

Shipping Report

TANKERS Suezmax West Africa rates have passed the W/S 300 mark. Exxonmobil has fixed M/T «Narova,» for 130,000 tons of cargo, loading November 21, discharging US Gulf, at W/S 305. – Tonnage availability in the area for the dates of November 20-25 is very thin, driving rates even higher. – The North Sea is also very firm on Suezmaxes, and at W/S 285 for transatlantic voyages. – In the Mediterranean, rates out of Black Sea are at W/S 370. – On Aframaxes, cross voyages in the Mediterranean are at W/S 430, while those out of the Black Sea are at W/S 450. – In the Cont., Alpine, for 80,000 tons of cargo, loading November 6 United Kingdom, discharging UKC, has fixed M/T «Navion Scotia» at W/S 330, while Lukoil, for 100,000 tons of cargo, loading November 9 Baltic, with same destination, has fixed M/T «Mastera» at W/S 320. – Caribs quieter, with 70,000-ton cargo liftings being fixed at W/S 400. – In the Mediterranean, Lukoil, for 80,000 tons of cargo, loading November 5 Russia, discharging Mediterranean, has fixed M/T «Athina M» at W/S 450, while Gunvor, for same cargo, loading November 19 Black Sea, with same destination, has fixed M/T «Panaghia Armata» at W/S 450. – In West Africa, Petrobras, for 130,000 tons of cargo, loading November 12, discharging Brazil, has fixed genmar tonnage at W/S 305. – In Arabian Gulf and on VLCCs, Chevtex, for 270,000 tons of cargo, loading November 18, discharging Far East, has fixed M/T «Tantramar» at W/S 250. DRY CARGO Capesize rates remain very strong in the Atlantic. One owner of 172,000 dwt has fixed delivery Immingham via Brazil to China at USD 90,000 daily. – In the East, brokers are talking of less inquiry, while opposite, owners are convinced that market will start heading upward. – NYK has fixed M/V «Alpha Millennium,» 170,415 dwt, built 2001, delivery Japan October 23-25, for Australian round-trip voyage at USD 67,500 daily. – On Panamaxes, after two days of quietness, a number of vessels have been fixed with rates still nudging higher. – Chokang has fixed M/V «Timios Stavros,» 75,470 dwt, built 1981, delivery November 22-27 Korea, trip via China, redelivery South Korea, at USD 30,500 daily. – In Atlantic, Pan Ocean has fixed M/V «Seafarer II,» 75,700 dwt, built 2000, delivery October 30 – November 5 US Gulf, redelivery Far East, at USD 38,000 daily and USD 670,000 ballast bonus. – On smaller sizes, M/V «May Oldendorff,» 45,874 dwt, built 1997, delivery Mexico end-October, redelivery Far East, was fixed at USD 43,000 daily.