ECONOMY

Shipping Report

TANKERS Med. remains quiet with availability in modern tonnage up to Oct. 17 for Black Sea loadings. Rates are at W/S 107.5. – Cont. remains active, at W/S 105-110, due to activity out of Baltic Sea. Gunvor for 80,000 tons of cargo loading Oct. 12 Baltic, discharging UKC, has fixed M/T «Prospect» at W/S 110. – Caribs with a number of fixtures at W/S 125-127.5. BP has fixed M/T «Pedoulas» for 70,000 tons of cargo loading Oct. 14, discharging US Gulf, at W/S 125. – Suezmaxes in demand out of W. Africa and also in the Med. Hess has fixed M/T «Narova» for 130,000 tons of cargo loading Oct. 29, discharging Caribbean, at W/S 77.5, while Sun has fixed M/T «Genmar Zoe,» loading end Oct., discharging US Gulf, at W/S 72.5. – In the Med., Petraco has fixed M/T «Front Marble» for 135,000 tons of cargo, loading Oct. 12-13 Russia, discharging UKC/Med., at W/S 77.5. – In the Med., Ergo for 80,000 tons of cargo loading Oct. 10 Egypt, discharging Italy, has fixed M/T «Afragold» at W/S 72. – In the Cont., BHP for 80,000 tons of cargo loading Oct. 14, discharging UKC, has fixed M/T «Nordic Yukon» at W/S 95. – In Caribs, Shell Western has fixed M/T «SKS Tagus» for 70,000 tons of cargo loading Oct. 13, discharging USAC, at W/S 122.5. – In W. Africa, Sun for 130,000 tons of cargo loading Oct. 24, discharging USAC, has fixed Alliance tonnage at W/S 77.5. DRY CARGO Quieter conditions in Capers with rumors that Elcano has fixed M/V «Tian Yang Hai,» 169,699 dwt, built 1997, delivery Continent Nov. 1-20, for 2 years’ trading at USD 15,500 daily. – In Far East, China Steel has fixed M/V «Lowlands Glory,» 173,000 dwt, built 2002, delivery/redelivery beg. Oct. Taiwan, trip via Australia, at USD 16,000 daily. – Atlantic activity in Panamaxes remains sluggish with inquiry reduced or withdrawn but optimism still strong. – In the East, quieter conditions exist with the owners covering fixtures ahead of the the vessels’ actual dates. Changbai has fixed M/V «Ioannis Zafirakis,» 64,916 dwt, built 1982, delivery Korea Oct. 5-10, redelivery Taiwan, at USD 7,000 daily. – Handies/Handymaxes freight rates remain strong. Mid-’80s-built 40-45,000-dwt vessels are still commanding levels in the region of USD 12,000 daily for trips to the East. – In the Atlantic, Deiulemar has fixed M/V «Invader 1,» 64,447 dwt, built 1984, delivery mid-Oct. Spain for 2 legs, redelivery Atlantic, at USD 7,750