ECONOMY

Shipping Report

Steady conditions in the Med. despite the 2-3 spot modern Aframax in the area with rates at W/S 135-140. – Cont. remains quiet at W/S 125 for 80,000 tons of cargo, but due to busy October schedules, rates are expected to move upward. -Caribs are quiet with the 70,000 tons of cargo liftings fixed at W/S 150-155. – Suezmaxes are at steady levels in the Med. and W. Africa at W/S 95 and W/S 97.5 for 130,000-135,000 tons respectively. – In the Med., ERG for 80,000 tons of cargo, loading October 17 Syria, discharging UKC/Cont., has fixed M/T Nissos Christiana at W/S 137.5, while Most has fixed M/T Alfa Germania for same cargo quantity, loading october 5 Egypt, discharging Italy, at same levels. – On the Cont., DEA has fixed M/T Young Lady for 80,000 tons of cargo, loading October 10 for UKC round trip voyage, at W/S 125. – In Caribs, Murphy, for 70,000 tons of cargo loading October 12, discharging US Gulf, has fixed AET tonnage at W/S 157.5. DRY CARGO A very quiet day yesterday due to the holidays in the Far East this week. It is of little surprise that all Baltic indexes have given in further, with Capers especially losing 17 points and Panamaxes 8. – On Capers, the M/V Aquagrace deal with CETRAGPA is of interest. Vessel was fixed for 160,000 tons of ore loading Tubarao (Brazil), discharging Rotterdam and Antwerp end October-early November, laydays and 7 total days all purposes, at USD 4.5 per ton free in/out. (This equates only 4 USD for Rotterdam discharge.) – On Panamax in Far East, Aimcor has fixed M/V Samjohn Amity, 74,700 dwt, built 1998, delivery Japan mid-October, trip via USAC, redelivery UKC, at USD 6,000 daily. In Atlantic, AP Moller has fixed M/V Kookaburra, 75,607 dwt, built 2000, delivery October 15-20 S. Africa, redelivery UKC, at USD 6,000 daily. – On smaller sizes, MUR has fixed M/V Lider, 43,169 dwt, built 1984, delivery S. Africa October 10-18, redelivery Far East, at USD 7,250 daily. – On grain cargoes, ADM for 60,000 tons of cargo, loading October 5-15 US Gulf, discharging Egypt/Med., has fixed M/V Aghios Nikolas at USD 11.30 per ton with 10,000 tons load and 10,000 tons discharge.