ECONOMY

Shipping Report

TANKERS Interesting market in the Med. with Minerva having succeeded in fixing Karran at W/S 120 for 80,000 tons of cargo, loading Black Sea Oct. 20, while Erg has fixed M/T «Black Sea» for same cargo quantity, loading Oct. 20 Libya, discharging Italy, at W/S 115. – Very active also in the same area, the Suezmax market with Janorch having fixed M/T «Butron» for 135,000 tons of cargo, loading Oct. 25 Novorossisk, discharging UKCM, at W/S 85, while Gunvor has fixed M/T «New Horizon» for 140,000 tons of cargo, loading Oct. 27 with same destination, at W/S 82.5. – Quiet conditions in the Cont. persist with Gunvor having fixed Lundqvist tonnage for 80,000 tons of cargo, loading Oct. 20 Tallin, discharging UKC, at W/S 112.5. – Caribs weaker with Citgo fixing M/T «Genmar Nestor» for 70,000 tons of cargo, loading Oct. 15, discharging US Gulf, at W/S 115. – VLCCs market also is rising with Chevtex fixing M/T «Front Page» for 285,000 tons of cargo with destination Red Sea at W/S 60, while Sun on Suezmax out of W. Africa has fixed M/T «Front Guider» for 130,000 tons of cargo, loading Oct. 30, discharging USAC, at W/S 82.5. – In the Med., Repsol has fixed M/T «Sereno II» for 80,000 tons of cargo, loading Oct. 19 Syria, discharging Spain, at W/S 105. – In the Cont., Gunvro for 80,000 tons of cargo, loading Oct. 15 Baltic, discharging UKC, has fixed M/T «Prospect» at W/S 110. – In Caribs, Orion has fixed M/T «Genmar Endurance» for 70,000 tons of cargo, loading Oct. 13, discharging US Gulf, at W/S 120. – In W. Africa, Sun has fixed M/T «Front Guider» for 130,000 tons, loading Oct. 30, discharging USAC, at W/S 82.5. DRY CARGO The Cape is still quiet, though inquiry for November is increasing in the Atlantic area. There are reports that M/V «Ormond,» 187,028 dwt, built 1986, with delivery Continent mid-Oct., redelivery Far East, was fixed at USD 21,500 daily. – Panamaxes are easing in the Atlantic with rumors that 2 to 3 of last week’s fixtures have failed on subs. Owners are beginning to seriously consider moving on T/C period with at least one of their vessels hedging ahead. – East more quiet with limited inquiry and a low number of fixtures. Daiichi has fixed M/V «Laut Fortune,» 69,100 dwt, built 1994, delivery/redelivery Japan beg. October, trip via Australia, at USD 7,900 daily. – Handymaxes still enjoying high freight levels. Armada has fixed M/V «Astromar,» 45,270 dwt, built 1985, delivery US Gulf Oct. 7-12 for 3-5 month period, at USD 9,000 daily. – In the Atlantic, industrial has fixed M/V «Sun Harvest,» 64,714 dwt, built 1982, delivery Oct. 14-18 Italy, trip via Black Sea, redelivery Far East, at USD 11,000 daily. – On smaller sizes, Fayette has fixed M/V «Noa,» 43,509 dwt, built 1985, delivery mid-Oct. Saudi Arabia, trip via Black Sea, redelivery US Gulf, at USD 6,500 daily.