ECONOMY

Shipping Report

The market is muted by Tuesday’s events and is trying to find out the way the price of crude oil is moving, as well as the availability of bunkers in various areas. -In the Med., CSSA for 80,000 tons of cargo loading September 21, discharging UKC/Med. has fixed M/T Iran Amol, at W/S 127.5 while BP for same cargo quantity, loading September 22, Syria, discharging Med. has fixed Iran tonnage at same levels. -On the Continent, CSSA for 80,000 tons of cargo loading September 20, discharging UKC, has fixed Lundqvist tonnage at W/S 112.5 while Petrobras for same cargo quantity, loading end September with same destination, has fixed M/T Nordic Svenita, at W/S 125. -In Caribs, Premcor has fixed M/T Compass I, for 70,000 tons of cargo loading September 22, discharging US Gulf at W/S 105. DRY CARGO All major indexes are moving in the right direction with that of Capers gaining 25 points and Panamaxes 7. -On Panamax in Far East Transfield has fixed M/V Umberto D’Amato, 75,300 dwt, built 1997, delivery Indonesia end-September trip via Western Australia, redelivery Far East at USD 7,700 daily, while Dreyfus has fixed M/V Guinomar Bastion, 74,193 dwt, built 2001, delivery Japan September 12-15, redelivery Taiwan at USD 6,500 daily. -In Atlantic, Azure has fixed M/V Global F, 73,700 dwt, built 1998, delivery Rotterdam September 20-25 for 4-6 months at USD 7,800 daily, while Samsun has fixed M/V Iolcos Star, 68,600 dwt, built 1995, delivery US Gulf September 6 / October 6, redelivery Japan at USD 7,700 daily and USD 135,000 ballast bonus. Turks fear that the impact of Tuesday’s attacks in Washington and New York could aggravate the local economic crisis. Severe economic turmoil hit Turkey in February, causing the lira to lose more than 50 percent of its value and sending the economy into a recession.