ECONOMY

Shipping Report

TANKERS Quiet conditions persist in the Cont. and Caribs markets, while in the Med., an active market is seeing rates rise. – Modern Aframaxes in the Med. are presently being negotiated at W/S 105, while for the Cont. and Caribs markets are at W/S 100 for 80,000 and 70,000 tons respectively. – Suezmaxes still in decent demand out of W. Africa, though VLCCs are taking some of the combination cargoes mainly with destinations to the Far East but to the US Gulf also. Vitol has fixed M/T «Berge Fuji» for 260,000 tons of cargo, loading October 10, discharging US Gulf, at W/S 45. – On Aframaxes in the Med., Repsol for 80,000 tons of cargo, loading October 2 Libya, discharging Spain, has fixed M/T «Express» at W/S 85. – In the Cont., Atmi for 80,000 tons of cargo, loading October 7 Baltic Sea, discharging USAC – US Gulf, has fixed M/T «Eagle Anahiem» at W/S 97.5. – In Caribs, Valero has fixed MT/ «Keymar» for 70,000 tons of cargo, loading October 3 Venezuela, discharging US Gulf, at W/S 100. – In W. Africa, Sun for 130,000 tons of cargo, loading October 18, discharging USAC, has fixed MT/ «Fairway» at W/S 75. DRY CARGO Freight rates and indexes continue their positive trend. – Panocean in the Atlantic has fixed M/V «Alpha Century,» 170,415 dwt, built 2000, delivery Cont. October 4, trip via Brazil, redelivery China, at USD 19,700 daily, while Cargill has fixed M/V «Pitsa D,» 169,200 dwt, built 2002, delivery China end October, trip via Australia, redelivery Cont./Med., at USD 13,500 daily,option trip via Richards Bay at USD 12,500 daily. – On Panamaxes in the Atlantic, Dreyfus has fixed M/V «Navios Star,» 76,000 dwt, built 2000, delivery UK end September, trip via Canada, redelivery Far East, at USD 12,500 daily, while same charters with delivery France end September trip via US Gulf, redelivery SE Asia via Cape, have fixed M/V «Angelic Glory,» 74,500 dwt, built 2000, at USD 12,250 daily. – In the Pacific, Eta has fixed M/V «Amber,» 68,700 dwt, built 1978, delivery beg. October, trip via Bubai, redelivery Muscat, at USD 7,500 daily, while Seven Mountains has fixed M/V «Irene’s Vigor,» 65,224 dwt, built 1983, delivery China end September, redelivery S. Korea, at USD 7,500 daily. – On smaller sizes, Kroon has fixed M/V «Sumana Naree,» 23,423 dwt, built 1984, delivery S. Africa end September, redelivery US Gulf, at USD 6,800 daily, while Brodin has fixed M/V «Calliroe Patronicola,» 29,607 dwt, built 1985, delivery Italy end September for a round voyage via St Lawrence, redelivery UKC/