ECONOMY

Shipping Report

TANKERS Rates in the Med. have started to move on Aframaxes, with the latest fixtures at W/S 107.5. It seems that M/T «Minerva Alexander» has been fixed at that level by Petraco. – A little more activity also in the N. Sea, with transatlantic fixtures for fuel oil becoming tighter. Rates for round-trip voyages at W/S 9.5-100 and rising. – In Caribs, rates for 70,000-ton cargo liftings at W/S 10.5-110. Valero has fixed Emerald tonnage, loading Oct. 5, discharging USG/AC, at W/S 110. – Suezmaxes in the Med. and W. Africa at steady levels. No activity in Caribs due to depressed Aframax rates in the area. – In the Med., Karran has fixed M/T «Minerva Emma» for 80,000 tons of cargo, loading Oct. 7 Black Sea, discharging Med., at W/S 105. – In the Cont., CSSA for 80,000 tons of cargo, loading beg. Oct. UK, discharging France, has fixed M/T «Alfa Britannia» at W/S 100. – In Caribs, Shell West for 70,000 tons of cargo, loading mid-Oct., discharging US Gulf, has fixed Teekay tonnage at W/S 100. DRY CARGO Capers-owners are enjoying the present obtainable freight levels, while in the Atlantic activity continues, although few details have emerged. – Japanese charterers have fixed M/V «Erie Ld,» 169,883 dwt, built 1999, delivery Passero Oct. 10, trip via Brazil, redelivery Japan, at USD 21,000 daily, while Cobelfret has fixed M/V «La Selva,» 172,515 dwt, built 1999, delivery Rotterdam Oct. 8, for trading at USD 15,500 daily for the first two years, USD 17,500 for the third. – Panamaxes are starting more firmly in the Atlantic, while some interesting fixtures have also appeared in the East. – M/V «Christina Venture,» 72,493 dwt, built 2000, delivery Passero beg. Oct. for 1-2 laden legs, redelivery Atlantic, has been fixed at USD 10,250 daily, while M/V «Red Fern,» 73,317 dwt, built 1998, with delivery China Oct. 6, trip via India, redelivery Far East, has been fixed at USD 9,000 daily. – On Handymax/Handies, PCL has fixed M/V «Lisa J,» 40,461 dwt, built 1985, delivery Brazil beg. Oct., redelivery Red Sea, at USD 9,800 daily and USD 170,000 ballast bonus. – On smaller sizes, Worthington has fixed M/V «IDC 3,» 43,656 dwt, built 1994, delivery S. Africa beg. Oct., trip via East Coast S. America, redelivery UKC, at USD 7,250 daily.