ECONOMY

Shipping Report

TANKERS A quiet start, with rates remaining firm. – In the Med., the 80,000-ton cargoes are being fixed at W/S 430, while in the Med., cross-Suezmax cargoes are being fixed at W/S 400. – Tamoil has fixed M/T «Hellas Warrior» for 80,000 tons of cargo, loading Nov. 8 Libya, discharging Italy, at W/S 430, while API for same cargo, loading Nov. 2 Egypt with same destination, has fixed M/T «Black Sea» at same levels. – On Suezmax, OMV, for 135,000 tons of cargo, loading Egypt Nov. 4, discharging Italy, has fixed M/T «Front Ardenne» at W/S 400, while CSSA, for 140,000 tons of cargo, loading end-Oct., discharging UKC-Med., has fixed M/T «Yannis P» at W/S 380. – In the N. Sea, Ursa, for 100,000 tons of cargo, loading Nov. 14 Poland, discharging UKC, has fixed M/T «Petrovsk» at W/S 317.5. – In Caribs, Valero, for 70,000 tons of cargo, loading Nov. 2, discharging US Gulf, has fixed overseas tonnage at W/S 400, while Marathon, for same cargo, loading East Coast Mexico mid-Nov. with same destination, has fixed M/T «Pink Sands» at W/S 397.5. – W. Africa rates on Suezmaxes continue their climb without interruption. Sun, for 130,000 tons of cargo, loading Nov. 23, discharging USAC, has fixed M/T «Delaware» at W/S 315, while Shell, with destination US Gulf, has fixed Alliance tonnage at W/S 300. – In Arabian Gulf and on VLCCs, PTT, for 270,000 tons of cargo, loading Nov. 28, discharging Thailand, has fixed M/T «Astro Lyra» at W/S 270. DRY CARGO Capesize rates even stronger, not only in the Atlantic, but in Far East too, with the Chinese once again fueling activity. – In the Atlantic, front-haul trips are being negotiated at around USD 100,000 daily. – Noble has fixed M/V «Mineral Shanghai,» delivery Spain, trip via Brazil, redelivery China, at USD 98,000 daily. – In the East and on T/C periods, Pan Ocean has fixed M/V «Aquabella,» 161,010 dwt, built 1995, delivery beg. Dec. China, for 5 years’ trading at USD 29,000 daily. – Strong market for Panamaxes too, with several vessels being fixed. There is a significant increase in period activity, mainly for 4-6 months. – Atlantic rates for 2 years’ trading with delivery have reached USD 40,000 daily. – In Far East, D’Amato has fixed M/V «Stefania,» 64,848 dwt, built 1981, delivery China Nov. 15-17, for 3-5 months’ trading at USD 29,250 daily. – In Atlantic, Elcano, with delivery Amsterdam end-Oct., trip via Kamsar, redelivery Spain, has fixed M/V «Medi Kobe,» 75,924 dwt, built 2001, at USD 37,500 daily. – On smaller sizes, NYK has fixed M/V «World Express,» 28,760 dwt, built 1995, delivery China end-Oct., redelivery Japan, at USD 26,000 daily.