ECONOMY

Shipping Report

TANKERS The Med. market remains firm, especially for Aframaxes, with rates for 80,000-ton cargo round-trip voyages at W/S 202.5, while Suezmaxes, despite the failures on subjects for cargoes out of Ceyhan, are still around W/S 140. – A quiet start for Aframaxes in the Continent. Owners are expecting new cargoes for loading dates in the third week of the month in order for present levels to be maintained. – Caribs remains weak mainly due to Venezuela’s strike situation. The 70,000-ton cargo liftings are being fixed at W/S 127.5. – Suezmaxes out of West Africa are at steady levels around W/S 107.5 for US Gulf / USAC destinations. – In the Med., API has fixed M/T «Senang Spirit» for 80,000 tons of cargo, loading December 26 Sidi Kerir, discharging Med., at W/S 202.5, while CSSSA has fixed M/T «Silba» for same size cargo, loading Syria, discharging Med., at W/S 180. – In W. Africa, Kyushu has fixed M/T «World Prince» for 250,000 tons of cargo, loading January 5 W. Africa, discharging Japan, at W/S 100, while Stasco has fixed M/T «Eagle Virginia» for 260,000 tons of cargo, loading January 3 W. Africa, discharging S. Africa, at W/S 119.5. – In Caribs, Valero has fixed M/T «Alliance Spirit» for 70,000 tons of cargo, loading January 11 or 12 Venezuela, discharging USG, at W/S 130, while Blanchard for the same size cargo has fixed M/T «Irene» December 15 ECM discharging USG at W/S 127.5. DRY CARGO A quiet start of the week while freight levels are maintained with good demand for short T/C periods. – Panocean has fixed M/V «Iron Queen,» built 1996, 161,351 dwt, delivery Beilun December 8 via West Australia, redelivery S. Korea, at 17,500 USD daily, while AEP has fixed M/V «Aqua Hope,» built 1997, 167,102 dwt, delivery Rizhao (China) December 18-20 via Richard Bay, redelivery Rotterdam, at 15,900 USD daily. – On Panamaxes, Navios has fixed M/V «Endless,» built 1999, 73,400 dwt, delivery Inchon December 16-17 for 3-5 months’ trading, redelivery worldwide, at 12,400 USD daily, while NYK has fixed M/V «Panamax Strength,» built 1983, 65,000 dwt, delivery Bin Qasim December 7-14 via Goa, redelivery Japan, at 12,000 USD daily. – On smaller sizes, IVS has fixed M/V «Bunga Melor Empat,» built 1995, 43,108 dwt, delivery South Africa December 10-12, redelivery Continent, at 9,600 USD daily, while Armada has fixed M/V «Great Gain,» built 1998, 27,410 dwt, delivery Georgetown December 12-13 via USEC, redelivery W. Italy, at 8,250 USD daily.