ECONOMY

Shipping Report

TANKERS Quieter market, with limited inquiry for Aframax cargoes in the Med. – Latest fixtures at W/S 400 for the 80,000-ton cargoes, while in the N. Sea rates are hovering around W/S 280-285. – The picture is similar in Caribs, with Lyondell having fixed M/T «Genmar Revenge» for 70,000 tons of cargo, loading Nov. 17, discharging US Gulf, at W/S 410. – On Suezmaxes, W. Africa seems steady at about W/S 300-305 for 130,000-ton cargoes with destinations to the States. – VLCC tonnage out of the same area around W/S 240 with same destination. – N. Sea rates mirroring those of W. Africa, at about W/S 300, with little interest as oil stays locally. – In the Med., CSSS for 80,000 tons of cargo, loading Nov. 23 Libya, discharging UKC-Med., has fixed M/T «Minerva Eleonora» at W/S 410, while Hess for 90,000 tons of cargo, loading Nov. 26 Algeria, discharging USAC, has fixed M/T «Gotland Spirit» at W/S 357.5. – In the Cont., BP has fixed M/T «Vallombrosa» for 80,000 tons of cargo, loading Nov. 18 East Coast UK, discharging UKC, at W/S 282.5. – In W. Africa, Sun has fixed M/T «Poetic» for 130,000 tons of cargo, loading Dec. 2, discharging USAC, at W/S 306.25. – On VLCCs, Koch for 260,000 tons of cargo, loading Nov. 28, discharging US Gulf, has fixed M/T «Crude Crest» at W/S 240. – In Arabian Gulf, Chevtex for 270,000 tons of cargo, loading Dec. 4, discharging Singapore, has fixed frontline tonnage at W/S 285. DRY CARGO Capesize levels in the Atlantic are approaching historic highs. – M/V «Mona Frontier,» 172,565 dwt, built 2001, was fixed by Chinese charterers at USD 105,000 daily, delivery Nov. 13-17 Spain, trip via Brazil, redelivery China. – In the Pacific, although market is not tested, rates appear steady. – On Capers, Pacific Shipping has fixed M/V «Formosabulk Duke,» 170,085 dwt, built 2001, delivery end-Nov. Taiwan, trip via W. Australia, redelivery China, at USD 77,000 daily. – On Panamax in Far East, Dreyfus has fixed M/V «Arethusa,» 75,319 dwt, built 2001, delivery Hong Kong mid-Nov., for 3-5 months’ trading at USD 40,000 daily. – In Atlantic, Corus has fixed M/V «Talisman,» 73,670 dwt, built 1993, delivery Spain mid-Nov., trip via Brazil, redelivery UKC, at USD 40,000 daily. – On smaller sizes, AMN bulk carriers has fixed M/V «Argolikos,» 42,183 dwt, built 1987, delivery Arabian Gulf Nov. 11-17, redelivery US Gulf, at USD 18,000 daily. – On ore cargoes, Ansdk for 140,000 tons of cargo, loading Brazil end-Nov.- beg.-Dec. Brazil, discharging Med., has fixed M/V «Cape Oceania» at USD 26.00 per ton with two-day load and 30,000 tons discharge.