ECONOMY

Shipping Report

TANKERS Even firmer conditions for modern Aframaxes in the Med. and Cont., with rates at W/S 190 and W/S 200 respectively. – Quite contrary conditions in the Caribs market with rates for 70,000-ton cargo liftings at W/S 132.5. – Suezmaxes steady in all areas. In the Med., despite a short supply of new cargoes, rates are still at W/S 135-140 in expectation of the extension of the Ceyhan program, while W. Africa fixings at around W/S 110 irrespective destination. – In the Med., BP for 80,000 tons of cargo, loading Dec. 17 Libya, discharging Med., has fixed M/T «Mare Dorico» at W/S 172.5. – In the Cont., Most has fixed M/T «Sintra» for 80,000 tons of cargo, loading Dec. 18 W. Coast Norway, discharging Italy, at W/S 165. – In Caribs, Chevtex for 70,000 tons of cargo, loading Dec. 8 East Coast Mexico, discharging US Gulf, has fixed M/T «Astro Arcturus» at W/S 132.5. – In W. Africa, BP for 130,000 tons of cargo, loading Dec. 26, discharging Spain, has fixed M/T «Eurosky» at W/S 110. DRY CARGO High freight levels still apply, not only on Panamaxes but on Capers too, with good demand for long T/C periods. – Pan Ocean has fixed M/V «Fortune Lady,» 74,694 dwt, built 1998, delivery China early January for 12 months’ trading, at USD 10,400 daily, while Bunge has fixed M/V «An Angel Enosis,» 73,556 dwt, built 1995, delivery Japan end Dec. for 18-20 months’ trading, at USD 10,750 daily. – In the Atlantic, Cargill has fixed M/V «Hsin Ho,» 70,829 dwt, built 1997, delivery Italy end Dec., trip via US Gulf, redelivery UKC, at USD 11,000 daily. – On grain cargoes, MSK for 54,000 tons of cargo, loading beg. Feb. US Gulf, discharging Japan, has fixed at USD 24.25 per ton with 11 days all purposes. – On coal cargoes, Kleimar for 150,000 tons of cargo, loading Dec. 15-31 S. Africa, discharging Rotterdam, has fixed M/V «Redestos» at USD 8.35 per ton with 2-day load and 25,000 tons’