ECONOMY

Shipping Report

TANKERS Quiet start to the week with rates remaining low in all areas and on all sizes. – Med. and Cont. on modern Aframaxes at W/S 90, while those built in the 1980s are negotiated at mid-70s in the Med. – Cont. still providing a premium for US Gulf/USAC destinations. Valero for 80,000 tons of cargo, loading Sept. 29 UK, discharging USG, has fixed M/T «Orkney Spirit» at W/S 97.5. – Suezmaxes also at steady levels. In the Med., BP has fixed Alliance tonnage for 130,000 tons of cargo, loading Sept. 30 Libya, discharging Trieste, at W/S 68.75, while Emerald in the N. Sea has fixed M/T «Crudestar» for 135,000 tons of cargo, loading Sept. 24, discharging USG, at W/S 64.5. – In W. Africa, Koch has fixed Alliance tonnage for 130,000 tons of cargo, loading Oct. 6, discharging US Gulf, at W/S 67.5. – In the Med. on Aframaxes, KPC for 80,000 tons of cargo, loading Sept. 22 Libya, discharging Med., has fixed M/T «Gaetano d’Alesio» at W/S 90. – In Caribs, Premcor for 70,000 tons of cargo, loading mid-Sept., discharging US Gulf, has fixed M/T «Astro Altair» at W/S 140. – In W. Africa, CSSSA for 130,000 tons of cargo, loading Sept. 28, discharging UKC/Med., has fixed M/T «Butron» at W/S 65. DRY CARGO Capers’ market remains positive with their index arriving last Friday at 1,450 points. – Panamaxes in the Atlantic also at improved rates, especially for cargoes via the Black Sea. M/V «Jin Pu Hai,» 69,000 dwt, built 1996, was fixed by Toepfer for delivery end Sept. Italy, redelivery Muscat, at USD 10,700 daily, while M/V «Big Blue,» 64,150 dwt, built 1982, was covered for similar trip, delivery Canakkale, at USD 12,500 daily. – Handies market out of Continent also at higher freight levels. M/V «Ocean D,» 27,000 dwt, built 1978, is reported by sources to have been paid USD 7,850 daily for a Continent to W. Africa trip, while Sometra has fixed a modern 27,000 dwt, built 1981, for similar trip at USD 8,350 daily. – Plate market also is getting very hot with a future 32 type being fixed passing Belem for a trip via Argentine back to the Cont. at USD 8,000 daily. – On Panamax in Far East, North China Shipping has fixed M/V «Red Fern,» 73,300 dwt, built 1998, delivery / redelivery Taiwan for Australian round trip at USD 8,000 daily. – In Atlantic, Medmar has fixed M/V «Eleftheria,» 63,718 dwt, built 1983, delivery Italy end Sept. for 2-3 legs, redelivery Atlantic, at USD 7,500 daily. – On smaller sizes, Glencore has fixed M/V «Marianna,» 34,835 dwt, built 1982, delivery end Sept. Med. trip via Black Sea, redelivery W. Med., at USD 8,000 daily. The report warned that thousands of tourists in Greece ran the risk of heavy fines or long prison terms for possessing mobile telephones or video games.