ECONOMY

Shipping Report

Quieter market conditions with Med. on Afframaxes at less than W/S 140 and with at least 4-5 units prompt. – Continent still at W/S 125, while in Caribs, the 70,000 tons of cargo liftings are fixed at W/S 152.5. – In the Med., API for 80,000 tons of cargo loading October 15 Syria, discharging Med., has fixed M/T Eagle Lyra at W/S 140. – In the Continent, Sinochem for 80,000 tons of cargo, loading October 8, discharging UKC, has fixed M/T New Ace at W/S 125. – In Caribs, Exxon for 70,000 tons of cargo, loading October 10, discharging US Gulf, has fixed M/T Shetland Spirit at W/S 165. – In W. Africa, Exxon for 130,000 tons of cargo loading October 28, discharging Italy, has fixed M/T Spetses at W/S 95. DRY CARGO The holidays in the Far East have a softening effect on the market. Baltic indexes reflect accordingly, working on lower numbers. – On Panamaxes though, there is an interesting situation with charterers discussing TC periods, mainly in the Far East with numbers starting at 6… and 7… in the West without any response from owners. – On Capers, Eastern Rich has fixed M/V Aquahope, 167,100 dwt, built 1997, delivery early October UK trip via Brazil, redelivery China, at USD 8,500 daily. -On Panamaxes in Far East, Transfield has fixed M/V Long Yer, 74,823 dwt, built 2001, delivery October 8-15 China, redelivery UKC, at USD 6,150 daily. – In Atlantic, Shinwa has fixed M/V Sea Eagle, 61,776 dwt, built 1981, delivery October 10-20 Brazil, redelivery Japan, at USD 7,250 daily and USD 130,000 ballast bonus. – On smaller sizes, Pan Ocean has fixed M/V Angelina The Great, 40,763 dwt, built 1986, delivery Japan early October, redelivery SE Asia, at USD 6,500 daily. – On grain cargoes, Cargill has fixed M/V Bonita for 63,000 tons of cargo loading October 10-15 St. Lawrence, discharging Amsterdam, at USD 7.00 per ton with 10 days all purposes.