ECONOMY

Shipping Report

TANKERS Steady conditions on VLCCs with rates at W/S 62.5 for eastbound and W/S 50-52.5 for westbound voyages. Nippon has fixed M/T «Maia» for 270,000 tons of cargo, loading Nov. 27, discharging Japan at W/S 62.5, while Chevtex for same cargo quantity, loading Nov. 28, discharging US Gulf, has fixed M/T «Overseas Donna» at W/S 52. – Quieter conditions on Suezmaxes out of W. Africa, with only two VLCC fixtures with destination Taiwan. – The Med. market remains firm for this type of tonnage, at W/S 150 per latest fixtures. – Aframaxes steady in Med. and Cont., with the 80,000-ton cargoes being fixed at W/S 137.5-140 and W/S 117.5-120, respectively. – Caribs weakening, with the latest 70,000-ton cargo liftings being fixed at W/S 190. – In the Med., KPC for 80,000 tons of cargo, loading Nov. 20 Libya, discharging Italy, has fixed at W/S 145. – In the Cont., Tamoil for 80,000 tons of cargo, loading Nov. 9 UK, discharging Germany, has fixed M/T «Nordic Akarita» at W/S 120. – In Caribs, Valero for 70,000 tons of cargo, loading Nov. 25, discharging US Gulf, has fixed Teekay tonnage at W/S 190. DRY CARGO The Cape market remains steady. NYK in the East has fixed M/V «Pacific Vitality,» 165,800 dwt, built 1996, delivery Baoshan mid-Nov. for a round trip via Queensland, at USD 17,500 daily, while same charterers have fixed M/V «Channel Navigator,» 172,091 dwt, built 1997, for same trip, at USD 18,500 daily. – Panamaxes at relatively high numbers not only in the Atlantic but also in the East. – Oceantrade has fixed M/V «Lacerta,» 71,862 dwt, built 1994, delivery Nov. 25-30 for 2-4 months period at USD 10,250 daily, while Shadab has fixed M/V «Full Beauty,» 70,194 dwt, built 1994, delivery Passero Nov. 9-14 for two-three legs’ trip via Black Sea, redelivery Far East, at USD 12,250 daily. – On smaller sizes, Glencore has fixed M/V «Alycia,» 35,164 dwt, built 1978, delivery beg. Nov. Spain, trip via UKC, redelivery Morocco, at USD 8,200 daily. – On coal trades, Swiss Marine has fixed M/V «Vergina 1» for 180,000 tons of cargo, loading S. Africa end Nov., discharging Rotterdam, at USD 7.65 per ton with two days’ load and 25,000 tons’ discharge.