ECONOMY

Shipping Report

TANKERS Steadier conditions in the Med. and Cont. with rates for Aframax at W/S 110 and W/S 97.5 respectively. – Caribs gradually improving after the weather delays which most ports experienced. The 70,000 tons of cargo liftings are fixed at W/S 117.5. – Rates on Suezmaxes remain unaltered. In W. Africa, 130,000 tons are fixed at W/S 72.5-75 with destination US Gulf/USAC respectively while in the Med., 135,000 tons of cargo are fixed at W/S 70-72.5. – In the Med., Mosthas fixed M/T «Sintra» for 80,000 tons of cargo, loading Oct. 10 Egypt, discharging Italy, at W/S 107.5. – On the Cont., Stasco, for 80,000 tons of cargo, loading Oct. 8 Tees, discharging UKC, has fixed M/T «Bergitta» at W/S 95. – In Caribs, Valero for 70,000 tons of cargo, loading Oct. 6 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Boss» at W/S 115. DRY CARGO Panamax market is particularly quiet with very little happening. In the Atlantic too, some vessels which were fixed before the weekend have failed on subs pushing up the number of available tonnage. – East is still trading behind Atlantic rates. M/V «Xinxing Hai,» 68,151 dwt, built 1995, delivery China mid-Oct., redelivery Philippines, was fixed at USD 7,700 daily, while Daeyang has fixed M/V «Blue Coral,» 64,000 dwt, built 1984, delivery mid-Oct. N. China, redelivery Taiwan, at USD 6,000 daily. – Handymax rates range between USD 12/14,000 daily, pending vessels’ specifications, although FM Black Sea German charterers have fixed Handymax at USD 15,000 daily with destination East. – In the Atlantic, Conagra has fixed M/V «Panacea,» 73,317 dwt, built 1997, delivery US Gulf Oct. 18-31, redelivery China, at USD 11,500 daily and USD 320,000 ballast bonus. – On smaller sizes, Armada has fixed M/V «Alberto Topic» 43,743 dwt, built 1991, delivery Brazil beg. Oct., for 2-4 months period at USD 9,000 daily and USD 135,000 ballast bonus.