ECONOMY

Shipping Report

TANKERS Baltic market has begun to slide gently with 100,000-ton cargoes being fixed at W/S 315. – Petroval has fixed M/T «Krasnodar,» loading Nov. 20-21, discharging UKC, at W/S 320, while Clearlake has fixed M/T «P. Pavlovsk,» loading Baltic Nov. 22, with same destination, at W/S 315. – In the Med., delays in the Turkish Straits continue to rise, however, due to lack of inquiry, Aframax rates are softer. – CSSA for 80,000 tons of cargo, loading Nov. 18 Algeria, discharging France, has fixed M/T «Minerva Astra» at W/S 425, while Petrogal for same cargo, loading Nov. 23, discharging Portugal, has fixed M/T «Livia» at W/S 422.5. – A better picture than last in Caribs with PDVSA having fixed M/T «Tjore Fremgang» for 70,000 tons of cargo, loading Nov. 4 Venezuela, discharging USAC, at W/S 435, while Stusco for same cargo, loading Nov. 8 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Constantine» at W/S 425. – Steady levels for Suezmaxes despite lesser inquiry. – In W. Africa, Petrobras for 130,000 tons of cargo, loading Nov. 21, discharging Brazil, has fixed M/T «Four Sun» at W/S 305. – In the Med., Erg for 135,000-tons of cargo, loading Nov. 25, discharging Italy, has fixed M/T «Oly. Faith» at W/S 362.5. – In Arabian Gulf and on VLCCs, Chevtex for 265,000 tons of cargo, loading Nov. 21, discharging Thailand, has fixed M/T «Regal Unity» at W/S 265. DRY CARGO Capesize rates remain strong in the Atlantic. – In Far East, rates appear steady, with good interest for T/C periods. – Navix has fixed M/V «Ocean Confidence,» 175,000 dwt, built 2005, delivery China April 2005, for 1 year’s trading at USD 58,500 daily. – Kleimar in Atlantic and for two years’ trading has fixed M/V «An Angel Destiny,» 171,997 dwt, built 1999, delivery Rotterdam Nov. 12-15, at USD 56,000 daily. – Panamax rates in the Atlantic appear steady, with owners sitting tight, expecting more cargoes in order to increase their freight ideas. – In Far East, rates are softer since the end of last week, with mixed views about the next move in the market. – In Atlantic, Pioneer metals has fixed M/V «Maria Bottiglieri,» 75,265 dwt, built 1995, delivery Italy Nov. 5-6, trip via Brazil, redelivery China, at USD 41,000 daily. – In Far East, Norden has fixed M/V «Mykali,» 76,390 dwt, built 2004, delivery Taiwan Nov. 14-15, trip via Indonesia, redelivery UKC-Med., at USD 38,500 daily. – On smaller sizes, Oldendorff has fixed M/V «Addu Star,» 24,034 dwt, built 1996, delivery mid-Nov. W. Coast India, redelivery UKC, at USD 15,000 daily.