ECONOMY

Shipping Report

TANKERS Quieter conditions on VLCCs with rates at W/S 55 and W/S 62.5 for West/East destinations, while Suezmaxes in W. Africa have no fresh inquiry for end-Nov. loadings. – On Aframaxes, market is firming further in the Med. and Caribs, with modern tonnage at W/S 145 and W/S 220 for 80,000- and 70,000-ton cargoes respectively. – Cont. remains quiet and at stable levels. The short round-trip voyages are still fixed at W/S 115-117.5. – In the Med., Veba for 80,000 tons of cargo, loading Nov. 10 Syria, discharging Italy, has fixed M/T «Crude Ocean» at W/S 140. – In the Cont., Stasco for 80,000 tons of cargo, loading Nov. 10 UK, discharging UKC, has fixed M/T «Magnitude» at W/S 115. – In Caribs, Williams for 70,000 tons of cargo, loading Nov. 23 Colombia, discharging US Gulf, has fixed M/T «Overseas Portland» at W/S 210. – In Arabian Gulf, CSSA for 266,000 tons of cargo, loading Nov. 26, discharging UKC/Rotterdam, has fixed M/T «New Valor» at W/S 60 – W/S 57.5 respectively. DRY CARGO Market quiet with fresh inquiry in Capers, however, at a pause, though nothing suggests that the momentum has changed. – Both M/V «Lowlands Trader,» 17,200 dwt, built 2001, and M/V «Cape Eagle,» 161,000 dwt, built 1993, have been fixed from the Cont. for transatlantic trips with no further information being reported. – In the Atlantic and in Panamaxes, Pan Ocean has fixed M/V «Heng Shan Hai,» 72,731 dwt, built 1998, delivery beg. Nov. Hamburg, trip via Ventspils, redelivery Far East, at USD 12,500 daily. – In the East, Samsun with delivery Japan Nov.14-16, trip via Australia, redelivery Skaw-Passero, has fixed M/V «Leto,» 75,169 dwt, built 2001, at USD 6,500 daily. – NCS has fixed M/V «Minoan Flame,» 65,690 dwt, built 1982, delivery Taiwan beg. Nov., trip via India, redelivery Far East, at USD 5,950 daily. – In Atlantic industrial has fixed M/V «Ispat Umang,» 69,306 dwt, built 1990, delivery Black Sea Nov. 7-12, redelivery Far East, at USD 13,650 daily. – On smaller sizes, J. Lauritzen has fixed M/V «Darya Taal,» 28,892 dwt, built 1998, delivery Nov. 2 US Gulf, for two laden legs, redelivery Atlantic, at USD 8,500 daily.