ECONOMY

Shipping Report

TANKERS There are a fair number of new Aframax cargoes in the Med., with dates to the end of the month, while tonnage supply appears adequate. – The 80,000-ton cargoes are being fixed between W/S 380-390, depending on the dates and voyage. – In N. Sea, the Aframax cargoes are being fixed at less than W/S 300, while the 100,000-ton cargoes out of the Baltic are being fixed at W/S 315-320. – Caribs with more cargoes although rates remain at less than W/S 400 for the 70,000-ton round-trip voyages. – On Suezmaxes out of W. Africa, rates remain above W/S 300, while in the Med., Petrogal for 135,000 tons of cargo, loading Turkey Nov. 26, discharging Portugal, has fixed M/T «Yannis P» at W/S 345. – On Aframaxes in the Med., Tamoil for 80,000 tons of cargo, loading Nov. 10 Libya, discharging Med., has fixed M/T «Framura» at W/S 420. – In the N. Sea, BP for 80,000 tons of cargo, loading Nov. 20, discharging UKC, has fixed M/T «Braveheart» at W/S 272.5. – In Caribs, Citgo for 70,000 tons of cargo, loading Nov. 14, discharging US Gulf, has fixed M/T «Genmar Princess» at W/S 395, while on smaller sizes, Stusco for 50,000 tons of cargo, loading Nov. 18, discharging USAC, has fixed M/T «Stena Companion» at W/S 440. – In W. Africa, Sun for 130,000 tons of cargo, loading Dec. 2, discharging USAC, has fixed M/T «Genmar Spyridon» at W/S 303.25. – In Arabian Gulf, Hyundai has fixed M/T «Front Lady» for 270,000 tons of cargo, loading Dec. 7, discharging S. Korea, at W/S 295. DRY CARGO Market for Capesizes remains low in both areas. – The picture is similar for Panamaxes, especially in the Atlantic. – US Gulf market remains difficult for early ships, while the East appears positional with stronger rates for round-trip voyages. – Market has also seen firmer rates for short-term period business. – On Capers, Glory Wealth has fixed M/V «Mineral Oak,» 165,693 dwt, built 1996, delivery UK Nov. 13-15 via Brazil, redelivery China, at USD 94,000 daily. – On Panamaxes in Far East, Taipower has fixed M/V «Maritime Kapar,» 74,222 dwt, built 2002, delivery end-Nov. China, trip via St Lawrence, at USD 38,500 daily. – In Atlantic, Pioneer has fixed M/V «Clipper Monarch,» 74,381 dwt, built 2000, delivery UK mid-Nov., trip via Baltic, redelivery N. Spain, at USD 39,000 daily. – On smaller sizes, Armada has fixed M/V «Mermaid Dream,» 47,245 dwt, built 1998, delivery W. Africa end-Nov., trip via Brazil, redelivery S. Africa, at USD 28,000 daily.