ECONOMY

Shipping Report

TANKERS Firmer conditions on Aframaxes in the Med. with rates around W/S 150, while Suezmaxes appear weaker with two to three vessels prompting fixtures in the area. – The N. Sea is stable with 80,000-ton cargo liftings being fixed at W/S 167.5, while Caribs seem softer with 70,000-ton cargoes being fixed at less than W/S 170. – On Suezmaxes, W. Africa stable with Sun having confirmed two fixtures at W/S 112.5 with destination USAC, while Emerald has on sub the M/T «Wilma Yangtze» for same destination at W/S 108.5. – In the Med., Erg for 80,000 tons of cargo, loading Dec. 4 Egypt, discharging Italy, has fixed M/T «Iran Astaneh» at W/S 145. – In the Cont., Repsol for 80,000 tons of cargo, loading Dec. 5 UK, discharging Spain, has fixed M/T «Nordisle» at W/S 165. – In Caribs, Blanchard has fixed M/T «Tamara» for 70,000 tons of cargo, loading Nov. 30 East Coast Mexico, discharging US, Gulf at W/S 172.5. – In W. Africa, Koch for 130,000 tons of cargo, loading Dec. 10, discharging US Gulf, has fixed M/T «British Hunter» at W/S 106.5. DRY CARGO The Atlantic Cape-size rates remain strong, while rumors have a 150,000-tonner being booked for a transatlantic round-trip voyage at USD 18,000 daily. – Panamax rates in the Atlantic are strengthening further, although they are still being fixed on an APS basis out of the US Gulf rather than on last redeliveries at the port of discharge. – On grain cargoes, Conagra has fixed M/V «Torm Baltic» for 54,000 tons of cargo, loading Dec. 10-15 US Gulf, discharging Japan, at USD 24.25 per ton with 11 days all purposes. – In Far East rates are now moving ahead of the Atlantic market. The 74,002-dwt 1999-built M/V «Ernst Salamon,» to open Dec. 5 in Taiwan, was linked to Japaneses charterers for an Australian round trip voyage at a strong USD 11,500 daily. – In the Atlantic, Wilmar has fixed M/V «Ocean Favor,» 72,400 dwt, built 1998, delivery US Gulf Dec. 5-10, redelivery China, at USD 11,400 daily and USD 320,000 ballast bonus. – On smaller sizes, GCL has fixed M/V «Melini,» 34,488 dwt, built 1977, delivery US Gulf end Nov., redelivery East Africa, at USD 10,000 daily.