ECONOMY

Shipping Report

TANKERS Increased activity in the Med., with modern Aframax getting tighter in position. Rates however, at W/S 100-102.5 and firming. – Cont. remains quiet, with limited number of new cargo, except for fuel oil inquiries for transatlantic voyages. – Caribs with a number of fixtures but with levels not better than W/S 97.5 for 70,000 tons of cargo liftings. – Suezmaxes steady in the Med. although few new cargoes are quoted out of Black Sea while in W. Africa, the 130,000 tons of cargo are fixed at W/S 72.5 and W/S 75 for US Gulf/USAC destinations respectively. – In the Med., Chevtex, for 80,000 tons of cargo, loading October 5 Black Sea, discharging UKC/Med., has fixed M/T «Crude Baltic» at W/S 95/100 respectively. – On the Cont., Navion for 80,000 tons of cargo, loading October 7 N. Sea, discharging US Gulf, has fixed M/T «Genmar Agamemnon» at W/S 95. – In Caribs, Stasco has fixed M/T «Sanko Quality» for 70,000 tons of cargo, loading September 28 East Coast Mexico, discharging US Gulf, at W/S 97.5. DRY CARGO Activities are still picking up exactly as anticipated for all areas after the holiday in Japan on Monday. The Capers have most of their activity in the Atlantic, with slightly firmer rates paid. – The Pacific remains quieter and little is reported from there. – On Panamaxes, rates in the Atlantic are holding firm mainly for Far East destinations. D’Amato on a T/C period has fixed M/V «Santa Vitoria,» 75,966 dwt, built 2002, delivery end-Oct./ beg.-Nov for two years, trading at USD 10,350 daily. – On the traditional grain route, Baumarine has fixed D’Amato tonnage for 54,000 tons of cargo, loading US Gulf October17-24, discharging Japan, at USD 23.95 per ton with 11 days all purposes. – In the Far East, Noble has fixed M/V «Oinoussian Father,» 64,321 dwt, built 1987, delivery Nopac October 10-15 for 70-120 days trading, redelivery Aden / Japan, at USD 7,100 daily and USD 180,000 ballast bonus. – In Atlantic, Bunge has fixed M/V «Athena,» 61,500 dwt, built 1979, delivery Gibraltar end-September, trip via East Coast S. America, redelivery UKC/Med., at USD. 6,750 daily. – On smaller sizes, Wampol has fixed M/V «Matumba,» 38,883 dwt, built 1985, delivery S. Africa end-September, redelivery West Coast India, at USD 8,250 daily and USD 100,000 ballast bonus.