ECONOMY

Shipping Report

TANKERS  Despite an increased number of fixtures, rates remain stable in all areas and sizes. – In the Med., as well as in the Cont., modern Afframaxes are still being fixed around W/S 90, while in Caribs rates are still being negotiated for 70,000-ton cargo liftings. – Suezmaxes are steady in the Med. and W. Africa at W/S 70 and W/S 65 for 135,000- and 130,000-ton cargoes respectively.  – In the Med., Petrogal for 80,000 tons of cargo, loading Sept. 22 Egypt, discharging Portugal, has fixed M/T Antarctica at W/S 81.5. – In the Cont., Emerald for 80,000 tons of cargo, loading Sept. 15 Norway, discharging UKC, has fixed Navion tonnage at W/S 90.  – In Caribs, BP for 70,000 tons of cargo loading Sept. 13, discharging US Gulf, has fixed M/T «Sea Loyalty» at W/S 125. DRY CARGO The increased demand for Capers, mainly for coal cargoes, is sending rates even higher. EDF for 150,000 tons of cargo, loading Colombia October 1-15, discharging France, has fixed M/V «Formosa Bulk Energy» at USD 6.30 per ton with 50,000-ton load and 25,000 tons discharge. – Healthier levels also on Panamaxes in the Atlantic, not only on modern, but on older units as well. M/V «Gladstone,» 64,951 dwt, built 1986, delivery Spain Sept. 10-15 trip via US Gulf, redelivery Far East, was fixed at USD 9,600 daily.  – Rates in the Far East are also increasing for this size, with charters even accepting vessels at discharging port and not countering with ballast bonus. – Handymax/Handies are unchanged with some interesting fixtures. LD Seals has fixed M/V «Barashois,» 29,000 dwt, built 1998, delivery mid-Sept. Algeria, trip via UKC, redelivery Far East, at USD 9,900 daily.  – On Panamax in Far East, Hanjin has fixed M/V «Carol,» 75,608 dwt, built 1999, delivery Sept. 16-17 Japan for 4-6 month period, at USD 8,350 daily.  – On smaller sizes, IVS has fixed M/V «Highgate,» 46,000 dwt, built 1985, delivery Richards Bay / Durban (S. Africa) Sept. 17-22, redelivery UKC, at USD 7,000 daily.