ECONOMY

Shipping Report

TANKERS Market remains firm in the Med. with modern Aframaxes at W/S 190 and Suezmaxes around W/S 140 after an agreement for Ceyhan to resume operations for a further six months. – Cont. even stronger with the 80,000-ton cargoes at W/S 220. – Caribs quieter with Venezuelan port authorities on strike. The 70,000-ton round-trip voyages are being fixed at W/S 127.5. – W. Africa stable with Hess having fixed M/T «Nisyros» for 130,000 tons of cargo loading Dec. 28, discharging St Croix, at W/S 104.25. – In the Med., Lukoil for 80,000 tons of cargo, loading Dec. 22 Syria, discharging Bourgas, has fixed M/T «Black Sea» at W/S 187.5. – In the Cont., BP has fixed M/T «Valiant» for 80,000 tons of cargo, loading Dec. 13, discharging UKC, at W/S 210. – In Caribs, Valero for 70,000 tons of cargo, loading Dec. 11, discharging USAC, has fixed M/T «Lucky Lady» at W/S 130. – In W. Africa, Sun has fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading Dec. 29, discharging USAC, at W/S 107.5. DRY CARGO Capesizes in the Far East are more active with several negotations under way, although details are in short supply. – A couple of Chinese charterers are looking for Dec. ships for round voyages in the East with limited tonnage. – Panamaxes remain strong in the area and are expected to be maintained into the new year. – Handies/Handymaxes at high freight levels with new grain cargoes quoted for US Gulf loaders. – On Capers, Swiss Marine has fixed M/V «Cape Australia,» 149,512 dwt, built 1990, delivery Dec. 8-11 China for 3-5 months’ trading, at USD 16,000 daily. – On Panamax in Far East, Hanjin has fixed M/V «Hai Ji,» 70,083 dwt, built 1994, delivery China mid-Dec., redelivery UKC, at USD 9,500 daily. – In Atlantic, NNC has fixed M/V «Spear,» 69,001 dwt, built 1983, delivery Dec. 17-21 UKC, trip via France and Egypt, redelivery Passero, at USD 10,000 daily. – On smaller sizes, Centrepoint has fixed M/V «Tina 1,» 39,850 dwt, built 1982, delivery China Dec. 9-12, trip via Iraq, redelivery Muscat, at USD 7,750 daily.