ECONOMY

Shipping Report

Rates for modern Aframax tonnage in the Med. are moving upward with KCP having fixed at W/S 140-145, as did most out of Sidi Kerir with destination Venice. -Continent remains stable with rates near to W/S 160 while in Caribs rates moved rapidly from W/S 120 to W/S 150 for the 70,000 tons of cargo liftings. -Suezmaxes out of W. Africa around W/S 100 while Med. remains quiet. -In the Med., Veba for 80,000 tons of cargo, loading Oct. 3-4 Syria, discharging Med., has fixed Iran tonnage at W/S 135. -On the Continent, CSSA for 80,000 tons of cargo, loading Sept. 25 for UKC round voyage, has fixed navion tonnage at W/S 150. -In Caribs, Chevron, for 70,000 tons of cargo loading Sept. 29, discharging US Gulf, has fixed M/T Minerva Helen at W/S 150. DRY CARGO The Capers continued on a roll yesterday with increases across the board. -The premier Richards Bay to Rotterdam route is now seen to be well above the USD 6 per ton and Tubarao to Baoshan and Beilun is not going to be fixed below USD 7 for a while. -Panamaxes in the Atlantic continue to perform better than in Far East. Rates vary between 7,500 and 8,000 USD daily for a trip to the East. -On the traditional grain route, Gulf/Japan has fixed Pan Ocean tonnage for 54,000 tons of cargo, loading Oct. 1-10 at USD 18.6 per ton, with 11 days all purposes. -On smaller sizes, Pan Ocean has fixed M/V Sea Banyan, 45,000 dwt, built 2000, delivery end Sept. North China, redelivery East Coast India, at USD 8,000 daily. -On Capers, Bocimar has fixed M/V Star Europe, 170,698 dwt, built 1986, delivery/redelivery UKC, trip via Brazil at USD 7,400 daily. -On smaller sizes, Tschudi & Eitzen has fixed M/V Canelo Arrow, 48,077 dwt, built 1997, delivery Kalimantan end Sept., redelivery West Coast India, at USD 25,000 ballast bonus.