ECONOMY

Shipping Report

Aframax market is at steady levels in the Med. with a number of cargoes waiting to be fixed, such as EXXON, AGIP and Total. – Continent seems more active with more than seven fixtures for 80,000 tons of cargo at W/S 145, while Caribs seems quieter with the 70,000 tons of cargo liftings fixed at W/S 145-147.5. – W. Africa on Suezmax with less demand, while Cont. and Med. maintain the latest high levels. M/T Crude Ena for 135,000 tons of cargo, loading UK, discharging USAC, has been fixed at W/S 112.5, while in the Med., M/T Glenroy, for same cargo quantity, loading Black Sea, discharging Med/UKC, has been fixed at W/S 105. – In the Med., Karran for 80,000 tons of cargo, loading October 22, discharging Med., has fixed M/T Seaborn at W/S 115, while OMV for same cargo quantity, loading October 18 Libya, discharging Itlay, has fixed M/T Alfa Germania at W/S 142.5. – On the Continent, Kock, for 80,000 tons of cargo, loading October 19 Baltic, discharging UKC/Med., has fixed M/T Willmington at W/S 140-135 respectively. – In Caribs, Valero has fixed M/T Nordbaltic for 70,000 tons of cargo, loading October 17, discharging USAC, at W/S 153.75. DRY CARGO The market is basically awaiting developments. Capers are still on a downward trend, with their index down by four points. -On Panamaxes, there is a significant increase in demand in the East as the holidays there have almost ended. There are three to four more new Dampier to China orders and Dreyfus appears to have further orders on their NOPAC to Far East route. – On Panamax in Far East, BTC has fixed M/V Full Sources, 69,600 dwt, built 1994, delivery mid-October Indonesia, for 4-6 month period, at USD 5,800 daily for the first 45 days and USD 7,500 daily for the rest of the period. – In Atlantic, Seapline has fixed M/V Apollon, 70,101 dwt, built 1994, delivery Jordan October 12-14, redelivery Indonesia, at USD 5,500 daily. – On smaller sizes, Star Shipping has fixed M/V Blue Fortune, 36,174 dwt, built 1982, delivery S. Africa October 16-20, redelivery UKC, at USD 6,100 daily. – On grain cargoes, SNTM/HYPROC for 15,000 tons of cargo, loading US Gulf November 1-15, discharging Algeria, has fixed at USD 27.50 per ton with 6,000-ton load and 7,000 tons discharge.