ECONOMY

Shipping Report

TANKERS VLCCs market active with Thai Oil having fixed M/T «Front Page» for 260,000 tons of cargo, loading Nov. 4, discharging Thailand at W/S 72.5. – Suezmax out of W. Africa comparatively high. But only one fixture was concluded yesterday, that of M/T «Bosco Tapias,» by BP with destination Castellon at W/S 82.5. – In the Med., Suezmaxes enjoy above W/S 85 for 135,000 tons of cargo. OMV has fixed Alliance tonnage, loading Oct. 26 Ceyhan, discharging Trieste, at W/S 87.5. – Aframaxes stable in the Med., with modern vessels at W/S 120 while better rates have been seen on the Cont., especially for transatlantic voyages. Atmi has fixed M/T «Bering Sea» for 80,000 tons of cargo, loading Oct. 20, discharging US Gulf, at W/S 130. – Caribs weak with BP having fixed M/T «Sanko Quality» for 70,000 tons of cargo, loading Oct. 22, discharging US Gulf, at W/S 96.25. – In the Med., Arcadia has fixed M/T «Ross Sea» for 80,000 tons of cargo, loading Oct. 20 Syria, discharging Med., at W/S 117.5. – On the Cont., PREEM, for 80,000 tons of cargo, loading Oct. 20 Denmark, discharging Sweden, has fixed M/T «N. Akarita» at W/S 115. – In Caribs, Chevtex has fixed M/T «Keymar» for 70,000 tons of cargo, loading Oct. 20, discharging US Gulf, at W/S 97.5. – In W. Africa on VLCC, Unipec for 260,000 tons of cargo, loading Nov. 7, discharging China, has fixed M/T «Tanabe» at W/S 42.5. DRY CARGO More activity in Capers market, inc. period deals. Keoyang has fixed Cape International tonnage 172,000 dwt, delivery end-2002 for 5 years trading at USD 15,250 daily while IVS has fixed sister vessel 170,000 dwt, 1st quarter 2003, 2nd option, 1-year trading, at USD 16,000 daily first 2 years and USD 17,000 for option 3 year. – Few interesting Panamax fixtures in Atlantic Basin and especially out of Black Sea. There are rumors M/V «Yk Sentosa,» 73,625 dwt, built 2000, with delivery Canakkale mid-Oct. trip, via Black Sea redelivery Far East, was fixed at USD 16,000 daily. – In the East and after longshoremen’s return to work, feeling is congestion will lift the market. On present fixtures, ETA has fixed M/V «Angelic Spirit,» 65,76 dwt, built 1984, delivery mid-Oct. Korea, trip via Australia, redelivery EC India, at USD 5,500 daily. – On Handymax/Handies, freights high. Bunge Roma has fixed M/V «Ince Pacific,» 45,514 dwt, built 2001, delivery US Gulf Oct. 11-14, redelivery Portugal at USD 10,500 daily.