ECONOMY

Shipping Report

Market on Vlccs is getting hotter from Arabian Gulf with destination Far East with rates at W/S 90. -Aframax in the Med. and on Continent at steady levels while Caribs gives signs of greater strength with 70,000 tons fixed at W/S 160. -Suezmaxes at W/S 100 and W/S 90 in W. Africa and Med. respectively. -In the Med., KPC has fixed Iran tonnage for 80,000 tons of cargo, loading Oct. 2 Libya, discharging UKC/Med. at W/S 140. -on the Continent, Stentex for 80,000 tons of cargo, loading Sept. 28 for UKC round voyage, has fixed M/T Nordic Yukon, at W/S 157.5. -In Caribs, Fina has fixed M/T Patriot for 70,000 tons of cargo, loading Oct. 2, dicharging US Gulf at W/S 152.5 -In W. Africa, Alliance’s tonnage for 130,000 tons of cargo loading Sept. 29, discharging US Gulf, has fixed at W/S 97.5. DRY CARGO Due to the uncertainty, owners are taking seriously the extra war risk surcharges for destinations such as Middle East territories. -Charterers for Capers need to be flexible and fix quickly in case they have spot necessities. The market is still improving and it has been noted that charterers are already now committing themselves for beginning/mid-October vessels. -Panamax rates stable both in Atlantic and Far East. -On Capers, Deiulemar has fixed M/V New Harvest, 208,000 dwt, built 1982, delivery Oct. 5-10 UKC for transatlantic round voyage, redelivery UKC/Med. at USD 7,000 daily. -On Panamax in Far East, PCL has fixed M/V Four Coal, 74,020 dwt, built 2000, delivery Japan end Sept., for 2-leg trip via Australia, redelivery UKC/Med. at USD 6,600 daily. -In Atlantic, PCL has fixed M/V Marina, 76,500 dwt, built 2001, delivery S. Africa Oct. 1-14, redelivery UK, at USD 6,000 daily and USD 90,000 ballast bonus. -On smaller sizes, Sealift has fixed M/V Antalina, 28,080 dwt, built 1984, delivery US Gulf end Sept., redelivery W. Coast S. America, at USD 6,500 daily. -On coal cargoes, Billiton, for 150,000 tons of cargo, loading S. Africa Sept. 15-30, discharging Rotterdam has fixed M/V Yue Shan at USD 4.75 per ton with 2 days load and 25,000 tons discharge.