ECONOMY

Shipping Report

TANKERS Firm market for VLCCs and Suezmaxes with Kyushu having fixed M/T «Musashi Spirit» for 260,000 tons of cargo, loading Nov. 21, at W/S 81.5, while in Suezmax, Enap for 130,000 tons of cargo loading W. Africa, discharging Chile, has fixed M/T «New World» at W/S 97.5. – In Aframaxes, the availability of modern tonnage in the Med. looks tight, though a number of older vessels are being negotiated at quite firm numbers. – Cont. market stable, holding present rates in anticipation of an end-of-month flurry. – Caribs quieter with the 70,000-ton cargoes being fixed at W/S 115. Valero has fixed M/T «Eos,» loading Oct. 20 East Coast Mexico, discharging US Gulf, at W/S 115. – In the Med., Tamoil for 80,000 tons of cargo, loading Libya end-Oct, discharging Med., has fixed M/T «Clare Spirit» at W/S 120. – In the Cont., Atmi for 80,000 tons of cargo, loading Oct. 26, discharging US Gulf, has fixed M/T «St Helen» at W/S 130. – In W. Africa, Stasco has fixed M/T «Stena Spirit» for 130,000 tons of cargo, loading Nov. 1, discharging US Gulf-Atlantic, at W/S 87.5-90 respectively. DRY CARGO Very little is happening in the chartering market. Meanwhile, the Atlantic Panamax market is looking for direction. Some owners seem ready for lower rates. – BHP Billiton has fixed M/V «Gateway Bulker,» 151,439 dwt, built 1994, delivery China Oct. 15-20, for two to three laden legs, redelivery Far East, at USD 14,900 daily. – On smaller sizes, Cont. is demonstrating strength in nearly all types. Charterers are acting quickly to secure appropriate tonnage. – Improving conditions are also reported for the 15-20,000 dwt market with good quality twindeckers in the PG/WC India range. – On Panamaxes in the Atlantic, Keoyang has fixed M/V «Marina,» 76,529 dwt, built 2001, delivery US Gulf end-Oct. – beg.-Nov., redelivery Japan, at USD 10,800 daily and USD 280,000 ballast bonus. – On grain cargoes, Seaboard for 35,000 tons of cargo, loading Oct. 22-26, discharging Peru, has fixed at USD 20.25 per ton with a 3,000-ton load and 4,000 tons discharge.