ECONOMY

Shipping Report

TANKERS Rates in the Med. appear a bit firmer, not due to additional inquiry but mainly due to congestion in Trieste, which has created a tighter tonnage availability. – Modern Aframax in the area are fixed at W/S 92.5. Karran has fixed M/T «Scorpius» at these levels, loading Black Sea Sept. 18, discharging Med., while Agip’s relet M/T «Nissos Christiana» was fixed for Chevtex for a prompt cargo at W/S 120. – Cont. also at firmer rates with tonnage list not accommodating charterers. Latest fixtures at W/S 90-92.5 due to strong demand for Suezmaxes in the area. – Caribs, after the dull levels W/S 97.5, have moved almost 30 points, with latest fixtures for 70,000 tons of cargo liftings at W/S 130. – Suezmax out of W. Africa steady, with Sun having fixed M/T «Genmar Macedon» at W/S 67.5 with destination USAC. – In the Med., Agip for 80,000 tons of cargo, loading Sept. 10 Egypt, discharging Italy, has fixed M/T «Iran Astaneh» at W/S 90. – On the Cont., Stasco for 80,000 tons of cargo, loading Sept. 16 Denmark, discharging Sweden, has fixed Stentex tonnage at W/S 90. – In Caribs, Equiva has fixed M/T «St Nicolas» for 70,000 tons of cargo, loading Sept. 23, discharging US Gulf at W/S 125. – In W. Africa, Repsol for 130,000 tons of cargo, loading Sept. 15, discharging Spain, has fixed Alliance tonnage at W/S 70. DRY CARGO Activity continues, especially on Capers, after the massive increase last Friday of their index by 35 points. EON, for 150,000 tons of coal, loading Sept. 27-Oct. 6 Colombia, discharging Rotterdam, has fixed CI tonnage at the impressive level of USD 5.95 per ton with 45,000 tons load and 25,000 tons discharge. – A welcome sign is also found in the East, where BMM took the M/V «Tiangronhai» for a dampier to Qingdao, 160,000 stem at USD 4.05, which again marks an improvement. – Panamax market also in the Atlantic looks brighter with Swiss Marine having fixed M/V «Oceanis,» 75,211 dwt, built 2001, delivery end Sept. – beg. Oct. US Gulf, redelivery Far East, at USD 10,000 daily and USD 300,000 ballast bonus. – Handymaxes with very few new fixtures. – W. Africa market on Handies remains dull, with owners having no other choice than to ballast their VSLS toward Continent or Brazil. – In the Atlantic, AP Moller has fixed M/V «Kingston Trader,» 74,242 dwt, built 1999, delivery S. Africa end Sept., redelivery W. Coast Italy, at USD 6,250 daily. – On smaller sizes, Oldendorff has fixed M/V «Angelina the Great N,» 40,763 dwt, built 1986, delivery Sept. 8-15 for 4-6-month period at USD 7,500 daily.