ECONOMY

Shipping Report

TANKERS Firm market in the Med. with rates still on the rise. Total has fixed M/T «Oly Symphony» for 80,00 tons of cargo, loading Nov. 16 Novorossisk, discharging Med., at W/S 141.25, while Veba for same cargo quantity, loading Nov. 10-12 Syria with same destination, has fixed M/T «Crude Ocean» at W/S 140. – Cont. stable with enough activity to keep the W/S 115 levels for short round-trip voyages, while Caribs continue to improve with latest fixtures for 70,000-ton cargo liftings at W/S 180-185. – On Suezmaxes, W. Africa seems to be flatting out at W/S 125 for US destinations opposite the Med., with a number of cargoes still to be covered. – In the Med., Tamoil for 80,000 tons of cargo, loading Nov. 11 Libya, discharging Med., has fixed M/T «Falster Spirit» at W/S 140. – In the Cont., Petroplus for 80,000 tons of cargo, loading Nov. 7 Tees, discharging UKC, has fixed M/T «Petrokrepost» at W/S 115. – In Caribs, Stusco has fixed M/T «Mersey Spirit» for 70,000 tons of cargo, loading Nov. 12 East Coast, Mexico, discharging US Gulf, at W/S 185. – In W. Africa, Sun has fixed M/T «Olympic Flair» for 130,000 tons of cargo, loading Nov. 26, discharging USAC, at W/S 126.25. DRY CARGO Plenty of activity in the Capers market with interest in T/C periods. M/V «Pacific Vitality,» 165,800 dwt, built 1996, was fixed by Cobelfret for delivery end Nov. China for 2 years’ trading at USD 14,888 daily with an option of a third year at USD 16,088 daily. – Firmer conditions on Panamaxes in the Atlantic too, especially for those able to make mid-Nov. dates onward in the US Gulf. Rates have moved above USD 11,000 daily, plus USD 300,000 ballast bonus for eastern destinations. – Wilmar with delivery Denmark end Oct., trip via US Gulf, redelivery Far East, has fixed M/V «Fu May,» 76,015 dwt, built 2002, at 12,400 daily, while NNC for a round-trip voyage, delivery end Oct. Spain, redelivery Passero, has fixed M/V «Luigi d’Amato,» 75,300 dwt, built 1996, at USD 10,100 daily. – Handymax/Handies still enjoying high freight levels. In the East, Kline has fixed M/V «Great Prestige,» 46,193 dwt, built 1998, delivery Hong Kong end Oct. for 2-4 month period, at USD 8,750 daily. – On smaller sizes, ABT has fixed M/V «Porto Cayo,» 39,338 dwt, built 1982, delivery end Oct. North Coast S. America, redelivery USAC, at USD 10,800 daily.