ECONOMY

Shipping Report

TANKERS Steady conditions and rates on Aframaxes in the Med. and Cont. with modern tonnage being fixed around W/S 85. Sibnect for 80,00 tons of cargo, loading Black Sea, discharging Med., has fixed M/T «Iran Astaneh» at W/S 85, while Stasco for same cargo quantity loading September 13, discharging UKC, has fixed M/T «Braveheart» at W/S 90. – Caribs, despite increases in the activity and the number of fixtures rates, are not firmer than W/S 101.25. Orion for 70,000 tons of cargo, loading September 18 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Gabriel» at W/S 101.25. – On Suezmaxes, rates in the North Sea have moved upward. The 135,000-ton cargoes are being fixed at W/S 82.5-85 for round-trip voyages, while West Africa remains steady. CSSA for 130,000 tons of cargo, loading September 17, discharging UKC / Med., has fixed Alliance tonnage at W/S 70. – In the Med., Api for 80,000 tons of cargo, loading September 17 Libya, discharging Italy, has fixed M/T «Sotra Spirit» at W/S 87.5. – In the Cont., Stasco for 80,000 tons of cargo, loading September 13, discharging UKC, has fixed Stentex tonnage at W/S 90, while on Suezmax, Navion for 135,000 tons of cargo, loading September 16 UK, discharging US Gulf, has fixed M/T «African Ruby» at W/S 65. – In Caribs, El Paso for 70,000 tons of cargo, loading September 12 East Coast Mexico, discharging Aruba, has fixed M/T «St Nicolas» at W/S 97.5. – In West Africa, Sun for 130,000 tons of cargo, loading September 28, discharging USAC, has fixed M/T «Sea Star» at W/S 66. DRY CARGO Busier market in all sizes. – On Capers M/V «Sanko Oasis» achieved the strong rate of USD 4.35 per ton for 150,000 tons ore, loading to Ijmuiden from Corus, while M/V «Sa Fortius» was fixed by Kleimar for the Richards Bay / Rotterdam run at USD 5.95 per ton. – A number of fixtures were also concluded yesterday for Panamaxes out of the Atlantic with redelivery Far East at 9,500 USD daily and USD 250,000 ballast bonus. M/V «Medi Roma,» however, suceeded at levels of USD 10,000 daily and USD 260,000 ballast bonus from Daeyang with delivery US Gulf on September 18 – Handymaxes also are busy, but it is usual to veil their activities in secrecy. M/V «Richway» 45,561 dwt, built 1982, delivery Canakkale mid-September trip via Black Sea, redelivery Far East, has been fixed by Turkish charterers at USD 11,500 daily. – On smaller sizes, Pan Ocean has fixed M/V «Tassos N» 41,406 dwt, built 1986, delivery China September 4-10, redelivery Thailand, at USD 5,500 daily. For all its big-word theorizing and stated inclusiveness, the Cultural Olympiad also reflects other, less exalted factors at work. For one thing, it implicitly sets out to refute Professor Samuel Huntington of Harvard, whose Foreign Affairs article called «The Clash of Civilizations» argued that the future world will be separated mainly by civilizations, not nation-states, and will be the source of future conflicts. «Clash» emerged, along with Francis Fukuyama’s «end of history» monograph, as standards of early post-Cold War thought, which also made them everybody’s favorite straw men to beat with the sticks of unanswerable counterargument by others having more time on their hands than creativity in their minds. New ideas can be perilous, but refuting them can be tiresome.