ECONOMY

Shipping Report

TANKERS Steady conditions with market holding levels above W/S 100 for VLCCs and Suezmaxes. Emerald for 280,000 tons of cargo, loading Nov. 5 S. Voe, discharging Canada, has fixed tanker tonnage at W/S 100, while CSSA for same cargo quantity, loading Nov. 7, discharging Far East, has fixed M/T «Poros» at a lump sum of USD 2.5m. – On Suezmaxes, Navion for 135,000 tons of cargo, loading West Coast Norway Nov. 11, discharging USG, has fixed M/T «Max Jacob» at W/S 107.5, while BP has fixed M/T «Minerva Symphony,» loading Nov. 7 S. Voe, with same destination, at W/S 110. – On Aframaxes, while market in the Cont. remains quiet, rates hold within the W/S 112.5-117.5 range. – Med. still at W/S 130-135 for modern tonnage with Sibneft having fixed M/T «Black Sea» for 80,000 tons of cargo, loading Nov. 3 Tuapse, discharging UKC/Med., at W/S 135, while Exxonmobil has fixed M/T «Sintra,» loading Nov. 5 Banias, discharging Augusta, at W/S 132.5. – Caribs with a lot of activity, although rates for the 70,000-ton cargo liftings are still around W/S 130. – In the Med., Veba for 80,000 tons of cargo loading Nov. 6 Algeria, discharging UKC / Med., has fixed M/T «Sarpen» at W/S 127.5. – In the Cont., BP has fixed Lundqvist tonnage for 80,000 tons of cargo, loading Oct. 31 UK, discharging UKC, at W/S 115. – In Caribs, Blanchard for 70,000 tons of cargo, loading Nov. 1, discharging US Gulf, has fixed M/T «Alphatank» at W/S 127.5. – In W. Africa, CSSA for 130,000 tons of cargo loading Nov. 19, discharging US Gulf, has fixed alliance tonnage at W/S 102.5. DRY CARGO Capers steady with more activity in the East. – Panamaxes in the Atlantic are even stronger. Worthington is rumored to have taken a 72-73,000 dwt modern Klaveness vessel for a Brazilian round-trip voyage at something close to USD 10,500 daily. M/V «Irinikos» which was also sent for Port Said was fixed by Glencore for a Black Sea to Cont. cargo at USD 11,000 daily. – Rates for Handymax/Handies in the Atlantic are even stronger. M/V «Med Carrara,» 43,300 dwt, built 1981, with delivery Porto Marghera (Italy) for a Black Sea trip to India, has fixed at USD 12,500 daily. – On Panamax in Far East, Kline has fixed M/V «General Guisan,» 73,035 dwt, built 1999, delivery Oct. 27-30, trip via Indonesia, redelivery Japan, at USD 9,100 daily. – On smaller sizes, southern chartering has fixed M/V «Great Gain» 27,000 dwt, built 1998, delivery S. Africa end Oct. – beg. Nov., redelivery US Gulf, at USD 7,850 daily.