ECONOMY

Shipping Report

TANKERS Smoother conditions for Suezmaxes out of W. Africa with Sun fixing M/T «Genmar Spartiate» for 130,000 tons of cargo, loading Nov. 30, discharging USAC, at W/S 112.5. – The market in the Med. is quite different for same sized vessels with the 135,000-ton cargoes being fixed at W/S 150, while there are still some legs to be covered. – Aframaxes quieter in all areas. In the Med., rates are holding around W/S 140-145 for modern tonnage, while in Cont. Exxonmobil has fixed Stentex tonnage for 85,000 tons of cargo, loading Nov. 13 Flotta, discharging Fawley, at W/S 110. – In Caribs, El Paso for 50,000 tons of cargo, loading mid-Nov., discharging USG-USAC, has fixed M/T «Antipolis» at W/S 170. – In the Med., Karran for 80,000 tons of cargo, loading Nov. 18 Russia, discharging Italy, has fixed M/T «Nilos» at W/S 125. – In the Cont., CSSA for 80,000 tons of cargo, loading Nov. 12 for a UKC round-trip voyage, has fixed M/T «Moss» at W/S 117.5. – In Caribs Exxonmobil has fixed M/T «Genmar Challenger» for 70,000 tons of cargo, loading Nov. 18 discharging US Gulf, at W/S 200. DRY CARGO After the «Eisbein» dinner in Hamburg, the market is returning to normal. On Capers, M/V «Formosabulk Energy,» 170,089 dwt, built 2002, was fixed for an Atlantic round-trip delivery in Le Havre via Bolivar, redelivery Spain, at USD 18,750 daily, while in the East, the M/V «Stonegate,» 187,000 dwt, built 1984, was fixed at USD 17,500 for a Pacific round-trip delivery in China. – Panamaxes remain firm in the Atlantic, where it seems that the new Baltic description size introduced last Friday has established that the round-trip value is USD 10,500 daily, while the value of the old 70,000 dwt description is close to USD 10,000. – In Far East, the recovery is well under way with round voyages being fixed at USD 9,250 daily. Keoyang has fixed M/V «Big Sky,» 69,189 dwt, built 1994, delivery 10-11 Nov. Japan for 3-5 months period, at USD 9,250 daily. – On smaller sizes, Fortuna Bulk carriers has fixed M/V «Samsun Earnest,» 33,024 dwt, built 1986, delivery mid-Nov. Skaw, trip via Baltic Sea, redelivery US Gulf, at USD 8,250 daily.