ECONOMY

Shipping Report

TANKERS During the absence of these reports, the market has remained flat with little activity in all areas. – In the Med., modern Aframaxes are fixed at W/S 87.5, while older units are being negotiated at W/S 75 and, in some instances, less than W/S 70. – Cont. is weakening further with latest fixtures at W/S 87.5, while Caribs showing no better than W/S 97.5 for 70,000-ton cargo liftings. – Suezmaxes stable with Med. for 135,000 tons of cargoes at W/S 70 and W. Africa for 130,000 tons of cargoes at W/S 65 and W/S 67.5 for Gulf and USAC destinations, respectively. – VLCCs Arabian Gulf / East at W/S 35, while West at W/S 30. – In the Med., Lukoil for 70,000 tons of cargo loading Sept. 10 Russia, discharging Med., has fixed M/T «Missouri» at W/S 70, while Repsol for same cargo quantity, loading Sept. 8 Libya, discharging Spain, has fixed M/T «Kapsali» at W/S 77.5. – In the Cont., Exxonmobil for 80,000 tons of cargo, loading Sept. 2 for UKC round voyage, has fixed M/T «Diana» at W/S 90. – In Caribs, Valero for 70,000 tons of cargo, loading Sept. 8, discharging US Gulf, has fixed M/T «Petrodvorets» at W/S 100, while BP for same cargo quantity, loading Sept. 7 with same destination has fixed M/T «Genmar Agamemnon» at same levels. – In W. Africa, Agip for 130,000 tons of cargo, loading Sept. 22, discharging Italy, has fixed M/T «Georgios S» at W/S 69.5. DRY CARGO Freight levels on Capers and Panamaxes appear better than at the last report almost 15 days ago. – Caper index last Friday was improved by 10 points, totaling 1201, while the Baltic index has shown an increase of 6 points, totaling 1036. – Capers in the East are showing a more consolidated condition with signs of further improvement. The new building 164,000 dwt, M/V «Thalassini Kyra» was fixed at USD 8,300 daily from Corus to cover their Roberts Bank to Ijmuiden Stem. – Better rates have also been achieved by Panamaxes in the Atlantic, with round trip voyages at USD 9,000 daily. M/V «Pelopidas» 76,000 dwt, built 2002, delivery Montoir via Brazil, redelivery Gibraltar-Skaw, was fixed at USD 9,500 daily. – Good demand also for Handy/Handymaxes with improved T/C activity in Australia. – On Panamax in Far East, PCL has fixed M/V «Guang Ming Feng» 74,000 dwt, built 2002, delivery Australia Sept. 24 – Oct. 4, redelivery UK, has fixed at USD 5,000 daily and USD 100,000 ballast bonus. – In Atlantic, Cosco has fixed M/V «Full Strong» 70,171 dwt, built 1994, delivery Sept. 10-20 France trip via Brazil, redelivery China, at USD 9,500 daily. – On smaller sizes, Pan Ocean has fixed M/V «Port Lisboa» 53,000 dwt, built 2001, delivery Black Sea Sept. 1-5, redelivery Far East at USD 14,000 daily. Once the terrorists had succeeded in intimidating at least some of the judiciary, one can easily imagine the terror of the civilian judges involved in such trials. Thus in a series of rulings by mixed courts (where judges and jury sit on the same bench) where defendants were on trial for terrorist actions there were acquittals, with the majority of the jury voting for and the three judges against (such as the trials of Avraam Lesperoglou, Balafas, and Kyriakos Mazokopos).