ECONOMY

Shipping Report

TANKERS Quiet conditions persist in the Med. in both Aframaxes and Suezmaxes. – Cont. market, as predicted, has moved up to W/S 105 with Exxonmobil fixing M/T «Juanita» for 80,000 tons of cargo, loading Sept. 28 UK, discharging Le Havre, at W/S 105. – Caribs market continues to fall with Valero having fixed M/T «Genmar Minotaur» for 70,000 tons of cargo, loading Sept. 30 Venezuela, discharging US Gulf, at W/S 97.5, while on smaller sizes, Equiva has fixed M/T «Goldmar» for 50,000 tons of cargo, loading end Sept., discharging USAC, at W/S 127.5. – W. Africa, in contrast to Med., appears busier with a number of cargoes for all destinations. Exxonmobil, loading Oct. 14, discharging US Gulf, has fixed M/T «Sea Princess» at W/S 71.25, while Sun has fixed M/T «Majestic,» loading Oct. 19, discharging USAC, at W/S 70. – In the Med., BP for 80,000 tons of cargo, loading Sept. 25 Black Sea, discharging UKC/Med., has fixed M/T «Iran Astaneh» at W/S 90. – In the Cont., Stasco for 80,000 tons of cargo, loading Sept. 27, discharging Sweden, has fixed M/T «Nordic Yukon» at W/S 100. – In Caribs, Chevtex for 50,000 tons of cargo, loading Sept. 29, discharging US Gulf, has fixed M/T «Nile» at W/S 115. – In W. Africa, Addax for 130,000 tons of cargo, loading Oct. 11, discharging Caribs, has fixed M/T «Super Lady» at W/S 71. DRY CARGO Activity has increased for Capers in the Atlantic as well as in the Pacific with most fixtures being concluded on T/C trip basis. Transfield has fixed M/V «Royal Excelsior,» 151,053 dwt, built 1995, delivery end Sept. Gijon trip via Brazil, redelivery China, at USD 14,500 daily. – Panamaxes in the Atlantic out of Med./B. Sea seem to have run out of steam with charterers having covered most of the Sept. loadings have started quoting Oct. cargoes. – Far East more active with some interesting fixtures. Mol Navix has fixed M/V «Navios Magellan,» 69,618 dwt, built 1992, delivery Muscat Oct. 3-5 trip via WC India, redelivery Japan, at USD 12,000 daily. – Handymaxes and Handies are still in demand everywhere. On T/C period, Fayette has fixed M/V «Aigeorgis,» 50,354 dwt, built 2001, delivery end Sept. Singapore for 3-5 months trading at USD 8,000 daily. – In Atlantic, BHP Billiton has fixed M/V «De Hui Hai,» 74,500 dwt, built 2001, delivery US Gulf beg. October, redelivery Japan, at USD 9,750 daily and USD 280,000 ballast bonus.