ECONOMY

Shipping Report

TANKERS Conditions remain unchanged despite the increased number of older Aframax fixtures in the Med. Modern tonnage is still fixed around W/S 90-92.5. – In Cont., despite continued activity, firmer rates are hindered by occasional cheap fixtures. Rates around W/S 92.5 even from the Baltic. – Low rates in Caribs with BP having fixed M/T «Framura» loading Sept. 21, discharging US Gulf, at W/S 135. – Steady conditions on Suezmaxes, although Sun has fixed M/T «Aldawha» for 130,000 tons out of W. Africa, loading early Oct., discharging USAC, at W/S 70. – In the Med., Naftex for 80,000 tons of cargo, loading Sept. 16 Russia, discharging Med., has fixed M/T «A. Pustovoyt» at W/S 70. – In the Cont., Repsol for 84,000 tons of cargo, loading Sept. 22 UK, discharging Spain, has fixed Lundqvist tonnage at W/S 83.5. – In Caribs, Alon has fixed M/T «Nordlight» for 70,000 tons of cargo, loading Sept. 21, discharging US Gulf, at W/S 135. – In W. Africa on VLCC, CPC for 270,000 tons of cargo, loading Oct. 15, discharging Taiwan, has fixed M/T «Nuri» at W/S 35. DRY CARGO Steadier conditions in Capers despite the M/V «Pacific Navigator» being fixed for 150,000 tons of ore, loading Australia end Sept., discharging China, at USD 4.05 per ton with 80,000-ton load and 30,000 tons discharge, a rate which realistically is 0.25 cents lower than the prevailing level. – The Atlantic remains active at stable levels with Bulfracht having fixed M/V «Mass Glory,» 69,550 dwt, built 1993, delivery Alexandria for 2 laden legs, redelivery Atlantic, at USD 10,000 daily. – On T/C short period, M/V «Disco Volante,» 69,000 dwt, built 1983, delivery Flushing for 3-5 months’ trading, redelivery Atlantic, option Far East, has fixed at USD 8,750 and USD 9,750 daily respectively. – In the East, it is also encouraging to see the M/V «Joyous World,» 69,286 dwt, built 1995, open in the Far East, getting a strong USD 8,250 daily for a 3 to 5 month employment. – In the Atlantic, Torm has fixed M/V «Salvatore Cafeiro,» 75,668 dwt, built 2001, delivery UK end Sept., trip via Venezuela, redelivery Italy, at USD 10,250 daily. – On smaller sizes, Korea Line has fixed M/V «Asian Glory,» 45,000 dwt, built 1996, delivery Sept. 12-15 New Zealand for 3-5 month period, at USD 7,875 daily.