ECONOMY

Shipping Report

TANKERS Med. active with a fair amount of fixtures. Rates for modern Aframaxes at W/S 115. CSSA has fixed M/T «Katja» for 80,000 tons of cargo, loading Algeria October 18, discharging Med., at aforesaid levels. – Cont. relatively quiet with not very much inquiry. Most cargoes are fixed till Oct. 20 loading dates and it is interesting to see the third decate fixtures. – Caribs steady for 70,000-ton cargo liftings. El Paso has fixed M/T «Constitution» for 70,000 tons of cargo loading Oct. 14 Colombia, discharging US Gulf, at W/S 122.5. – VLCCs active, not only out of Arabian Gulf but also from W. Africa, with W/S 47.5 and W/S 57.5 west and east respectively. Exxonmobil has fixed M/T «Arion,» loading Oct. 24, discharging US Gulf, at W/S 47.5. – In the Med., CSSA for 80,000 tons of cargo, loading Oct. 22 Tunisia, discharging Med., has fixed M/T «Vallombrosa» at W/S 110. – In the Cont., Gunvor has fixed M/T «Prospect» for 80,000 tons of cargo, loading Oct. 15 Baltic, discharging UKC, at W/S 110. – In Caribs, Orion for 70,000 tons of cargo, loading Oct. 13, discharging US Gulf, has fixed M/T «Genmar Endurance» at W/S 120. – In W. Africa, Sun for 130,000 tons of cargo, loading Oct. 29, discharging USAC, has fixed M/T «Genmar Zoe» at W/S 77.5. DRY CARGO Another quiet start with Panamax owners needing to concede lower rates in the Atlantic in order to see their vessels fixed. – Capers at a standstill, with little inquiry. Swiss Marine has fixed M/V «Cape Lord,» 143,745 dwt, built 1982, delivery China Oct. 15 for 3-5 month period, at USD 11,000 daily. – On Panamaxes, Glencore in the Atlantic has fixed M/V «Corato,» 64,282 dwt, built 1989, delivery Egypt mid-Oct., trip via Black Sea, redelivery Far East, at USD 11,500 daily, while in Far East, Chinese charterers have fixed M/V «Captain Diamantis,» 74,500 dwt, built 2000, delivery China end-Oct. for an Australian round trip at USD 8,250 daily. – Handymaxes still at high levels with Pan Ocean having fixed M/V «Uri,» 46,509 dwt, built 2001, delivery US Gulf Oct. 1-20, redelivery Far East, at USD 13,900 daily. – The Cont. seems short of tonnage in general. – On smaller sizes, Conti Lines has fixed M/V «Nats Emperor,» 37,916 dwt, built 1987, delivery Rotterdam mid-Oct., trip via Baltic Sea, redelivery West Coast / S. America at USD 9,500 daily.