ECONOMY

Shipping Report

TANKERS Even firmer market in the Med. with tonnage very tight and inquiry increasing. Agip on a relet vessel has agreed W/S 134 from KPC for a Buattifel cargo while Total has fixed M/T «Katja,» loading Syria Oct. 26, discharging UKC/Med., at W/S 130. – Cont. almost stable, with small increase especially for transatlantic voyages. Conoco has fixed M/T «Bering Sea» for 80,000 tons of cargo, loading Oct. 23 Tees, discharging US Gulf, at W/S 130. – Aframax in Caribs have succeeded finaly in moving to W/S 130 area. Chevtex for 70,000 tons of cargo, loading Oct. 20 East Coast Mexico, discharging USG-AC, has fixed M/T «Sealoyalty» at W/S 135/120 respectively. – Suezmaxes steady with Med. very near to W/S 90 for 135,000 tons of cargoes while in W. Africa Sun has fixed M/T «Sabine» for 130,000 tons of cargo, loading Nov. 5, discharging USAC, at W/S 87.5. – In the Med., Petraco for 80,000 tons of cargo, loading Oct. 25 Black Sea, discharging Med., has fixed M/T «Iliad» at W/S 100. – In the Cont., CSSA for 80,000 tons of cargo, loading Oct. 30 East Coast UK, discharging UKC, has fixed M/T «Ragnhild Knutsen» at W/S 115. – In Caribs, Chevtex for 70,000 tons of cargo, loading Oct. 24, discharging US Gulf, has fixed M/T «Astro Arcturus» at W/S 107.5. – In W. Africa, Chevtex for 130,000 tons of cargo, loading Nov. 8, discharging USAC, has fixed M/T «Sonangol Girassol» at W/S 100. DRY CARGO Fairly balanced caper market in the Atlantic, while in the East rates appear a little softer, although inquiries remain steady. – Panamaxes very busy last Friday and are moving along the right path for further improvement. M/V «Paiute» 70,200 dwt, built 1995, was not confirmed by Panocean for a US Gulf to Far East trip at USD 10,850 daily plus USD 280,000 ballast bonus and was refixed by Cosco for similar business at same daily rate with USD 300,000 ballast bonus. – Handy/Handymax still high as well as on smaller sizes. M/V «Ivi» 26,697 dwt, built 1979, was fixed with delivery Turkey for a lakes round voyage at USD 8,500 daily, while other owners of similar-sized vessels declined USD 7,250 daily for a trip Med. to S. Africa, having ideas close to USD 9,000 daily. – In the Atlantic, ABT has fixed M/V «Goldbeam Trader» 74,247 dwt, built 2001, delivery Gibraltar mid-Oct. for two-leg trip via Brazil / US Gulf, redelivery Far East, at USD 11,100 daily.