ECONOMY

Shipping Report

TANKERS Steady conditions on Aframaxes with minor fresh inquiry. – In the Med., modern ships are still fixed at W/S 85. ERG, after failing to fix M/T «Seaborne,» has fixed M/T «Hellas Warrior» for 80,000 tons of cargo, loading Marsa El Brega Sept. 15 with destination Savona, at W/S 85, while M/T «Black Sea» was replaced by M/T «Athina M» for a Sidi Kerir cargo, by the same charterers at the same freight levels. – On the Cont., Stasco has fixed Fortum tonnage for 100,000 tons of cargo, loading Sept. 16 Baltic, discharging UKC at W/S 72.5, while CSSA for 80,000 tons of cargo loading Sept. 6 Ecuk-W.C. Norway, discharging UKC, has fixed M/T «Bergitta» at W/S 90. – In the Caribs, very little activity, with 70,000 tons of cargo liftings fixed at W/S 97.5, while on Suezmaxes out of W. Africa, rates are still around W/S 65-70 with destination USAC / Med. – In the Med., Agip, for 80,000 tons of cargo, loading Sept. 5 Egypt, discharging Italy, has fixed M/T «Express» at W/S 72.5. – On the Cont., Gunvor has fixed M/T «Prospect» for 80,000 tons of cargo, loading Sept. 16 Russia, discharging UKC at W/S 87.5. – In Caribs, BP, for 70,000 tons of cargo, loading Sept. 15, discharging US Gulf, has fixed Teekay tonnage at W/S 97.5 while Equiva has fixed M/T «Mersey Spirit» for same cargo quantity, loading Sept. 12, with same destination at same levels. DRY CARGO Freight rates on Capers still imrpoving. A few days ago, Swiss Marine fixed M/V «Iolcos Ability» for 130,000 tons of coal, loading Richards Bay Sept. 20-25, discharging Rotterdam, at USD 5.75 per ton with two days’ load and 25,000 tons’ discharge, while yesterday, Cargill fixed M/V «Alpha Friendship» for 150,000 tons of coal, loading Sept. 20-30 with same destination, at USD 5.95 per ton. – On Panamaxes, Atlantic still remains the most interesting area. M/V «Armonikos,» 61,748 dwt, built 1984, with delivery N. Spain Sept. 9-15, trip via EC South America, redelivery Skaw/ Passero, has been fixed at USD 7,500 daily while in the East, MASL has fixed M/V «Manna,» 71,062 dwt, built 1990, delivery Sept. 12-20 Nopac, redelivery Far East, at USD 6,200 daily and USD 120,000 ballast bonus. – Oetker, on smaller sizes, with delivery Hamburg Sept. 6-10 for two laden legs via EC S. America, redelivery UKC/Med., has fixed M/V «Beth B» 37,585 dwt, built 1983, at USD 7,750 daily.