ECONOMY

Shipping Report

TANKERS Conditions are firm in the Med. and the Cont. and are expected to remain so, as a result of tightness of ships in the Med. and the expectation of a new flow of cargoes out of the Baltic Sea in the Cont. – Caribs remain quiet with the latest fixtures for 70,000-ton round-trip voyages at W/S 145. – Suezmax market remains quiet in the Med. with prompt tonnage and rates for 135,000-ton cargoes at W/S 135. – W. Africa also with limited fresh inquiry, while rates are hovering around W/S 110 for USAC / US Gulf destinations. – In the Med., Karran for 80,000 tons of cargo, loading December 13 Black Sea, discharging Med., has fixed M/T «Braveheart» at W/S 180, while CSSA for same cargo quantity, loading December 14 Tunisia, discharging UKC/Med., has fixed M/T «Sotra Spirit» at W/S 170. – In the Cont., CSSA has fixed M/T «Moss» for 80,000 tons of cargo, loading December 11 N. Sea, discharging UKC, at W/S 190. – In Caribs, Stasco has fixed M/T «Petrodvorets» for 70,000 tons of cargo, loading December 6 East Coast Mexico, discharging US Gulf, at W/S 145. – In West Africa, Petrogal for 130,000 tons of cargo, loading December 25, discharging Sines has fixed M/T «Kamlesh,» at W/S 112.5. DRY CARGO Increased rates still apply in the Atlantic and East; charterers still taking vessels on short and long-term periods. – Operators talking USD 13,000 daily for round-trip voyages and asking USD 12,500 for short periods. – Cargill in the East has fixed M/V «Navios Star,» 76,000 dwt, built 2002, delivery Philippines December 9-10 for 9-11 months’ trading at USD 11,500 daily, while Chinese charterers have fixed M/V «Sea Guardian,» 75,200 dwt, built 1999, delivery/redelivery China December 4-5, trip via Australia, at USD 12,600 daily. – Firmer conditions on Capesize also with Korea line having fixed M/V «Cape Eagle,» 161,475 dwt, built 1993, delivery France December 15-20 for 12 months’ trading, at USD 17,850 daily, while Sinom for 170,000 tons of ore, loading Brazil December 20-30, discharging China, has fixed M/V «Lowlands Trader» at USD 12.50 per ton with 2-day load and 25,000 tons discharge. – High freight rates also apply to Handies/Handymaxes, especially out of the US Gulf. ED&F Man has fixed M/V «Ah Ekinci,» 37,415 dwt, built 1982, delivery Houston December 10-15 for 40-70 days’ period, at USD 9,250 daily. – On smaller sizes, Norden has fixed M/V «J. Suda,» 45,500 dwt, built 1996, delivery China, December 10-20 for 2-4 months’ period, at USD 9,500 daily.