ECONOMY

Shipping Report

TANKERS Market remains firm for VLCCs with rates near W/S 100 for 270,000-ton cargoes with Far East destinations. – Suezmaxes have more activity out of W. Africa, with rates at W/S 112.5 for USAC destinations, while in the Med. Ceyhan / Black Sea loadings of 135,000-ton cargoes are being fixed at W/S 145. – Aframaxes quieter in the Med., with rates increasing from W/S 137.5 to W/S 145. – Cont. market firm with the 80,000-ton round-trip voyages at W/S 170 and two to three charterers are searching for candidates for transatlantic destinations. – Caribs quieter, although levels appear steady around W/S 200. – In the Med., Agip for 80,000 tons of cargo, loading end Nov. Black Sea, discharging Med., has fixed M/T «Montrose» at W/S 130. – In the Cont., Petroplus for 80,000 tons of cargo, loading Nov. 28 for UKC round-trip voyage, has fixed Lundqvist tonnage at W/S 165. – In Caribs, Cepsa has fixed M/T «Minerva Maya» for 70,000 tons of cargo, loading Dec. 1, discharging Spain, at W/S 165. – In W. Africa, Chevtex for 130,000 tons of cargo, loading Dec. 15, discharging USAC, has fixed alliance tonnage at W/S 125. DRY CARGO The slow start to the week continues with negative returns on almost all routes, except on front-haul timecharters. – On Capers, Korea Line has fixed M/V «An Angel Ambition,» 161,587 dwt, built 1994, delivery UK end Nov. – beg. Dec., trip via Brazil, redelivery S. Korea, at USD 19,250 daily. – On Panamaxes in the Atlantic, Augustea has fixed for a short 3-5 T/C period M/V «Angelic Grace,» 74,764 dwt, built 2001, at USD 10,500 daily, while on grain route, EMC has fixed Bottiglieri tonnage for 54,000 tons of cargo, loading US Gulf Dec. 1-11, discharging Japan, at USD 24.40 per ton with 11 days all purposes. – In the East, PCL has fixed M/V «Pantanassa,» 69,763 dwt, built 1988, delivery end Nov. Muscat, trip via Richards Bay, redelivery Cont., at USD 8,750 daily. – On smaller size San Juan Navigation has fixed M/V «Ellisponto» 31,255 dwt, built 1981, delivery US Gulf Nov. 22-2, redelivery Cuba, at USD 8,500 daily. – On coal cargo Carboex has fixed M/V «Castillo de Simancas» for 150,000 tons of cargo, loading Colombia Dec. 5-20, discharging Spain, at USD 6.90 per ton with 2-day load and 25,000-ton discharge.