ECONOMY

Shipping Report

TANKERS The VLCC market is very active in all areas. – Out of Arabian Gulf, Idemitsu has fixed M/T «Pacific Superior» for 260,000 tons of cargo, loading December 12, discharging Japan at W/S 307.5. – Out of West Africa, Stasco for 260,000 tons of cargo, loading December 12, discharging US Gulf, has fixed M/T «Eagle Vermont» at W/S 267.5. – Similar is the picture for Suezmaxes out of West Africa. Sun for the last dates of November has fixed M/T «Olympic Flair» at W/S 312.5, while M/T «Front Brabant,» with loading dates at the beginning of December, has been fixed at W/S 330. – Aframaxes are stable in all areas. – In the Mediterranean, Tupras has fixed M/T «Silba» for 80,000 tons, loading November 29 Algeria, discharging Turkey, at W/S 350, while Petrogal for same cargo, loading November 27 Libya, discharging Portugal, has fixed M/T «Moscow Kremlin» at W/S 395. – In the Cont., Chevtex for 80,000 tons of cargo, loading November 16 UK, discharging UKC, has fixed M/T «Evita» at W/S 292,5. – In Caribs, BP has fixed M/T «Sirius Voyager» for 130,000 tons of cargo, loading December 15, discharging USAC, at W/S 315. DRY CARGO Capesize rates remain very strong, with the Atlantic market remaining solid and paying big money for destinations East. – Japanese charterers have fixed M/V «Mineral Tianjin,» 176,000 dwt, built 2004, delivery China November 15-16, trip via Australia, redelivery Japan, at USD 81,000 daily. – Panamaxes are beginning to move in the Atlantic, with additionally inquiry. – Bottiglieri has fixed M/V «Navios Star,» 76,620 dwt, built 2002, delivery Passero mid-November, for two legs, redelivery Atlantic, at USD 39,000 daily. – In Far East, Kline has fixed M/V «Angelic Grace,» 74,700 dwt, built 2001, delivery November 15-16 Japan, trip via Australia, at USD 39,000 daily. – On smaller sizes, Daiichi has fixed M/V «Little Annou,» 44,875 dwt, delivery November 17-20 China, trip via Indonesia, redelivery Thailand, at USD 25,750 daily. – On coal cargoes, Total for 70,000 tons of cargo, loading South Africa November 17-25, discharging UKC, has paid $27.90 per ton with one-day load and 25,000 tons discharge.