ECONOMY

Shipping Report

TANKERS Even firmer conditions in the Med., with weather delays contributing to a further rise in the market. – Modern Aframaxes are fixed above W/S 200 while Suezmaxes maintain W/S 142.5-145 levels. – The Cont. market has started to pick up again, with good demand even on Suezmaxes for round voyages. – Caribs remain weak, with the 70,000-ton cargo liftings out of East Coast Mexico at W/S 125. – W. Africa with fresh inquiry for early January loadings. Rates for 130,000 tons of cargoes for USAC destination at W/S 110. – In the Med., Gunvor for 80,000 tons of cargo, loading Dec. 26 Russia, discharging UKC/Med., has fixed M/T «Bravery» at W/S 198.75. – In the Cont., CSSA has fixed Navion tonnage for 80,000 tons of cargo, loading Dec. 22 UK, discharging UKC, at W/S 220. – In Caribs, BP has fixed M/T «SKS Torrens» for 70,000 tons of cargo, loading Dec. 16, discharging US Gulf, at W/S 132.5. – In W. Africa, Stasco has fixed M/T «Eagle Virginia» for 260,000 tons of cargo, loading Jan. 3, discharging S. Africa, at W/S 119.5. DRY CARGO A further increase on capers with the owners of M/V «Grand Clipper,» 168,146 dwt, built 1996, achieving USD 27,000 daily, delivery Rotterdam, trip via Brazil, redelivery Japan from Daiichi. This is the highest rate since October 2000, when USD 25,000 daily was agreed for a front haul with a 161,000 tonner. – Firm rates on Panamaxes too. Transgrain in the Atlantic has fixed M/V «Bonita,» 76,623 dwt, built 2001, delivery end Dec. Germany, trip via USAC, redelivery Southeast Asia, at USD 13,000 daily. – In the East and on the T/C periods Transfield has fixed M/V «Giuseppe Bottiglieri,» 75,265 dwt, built 1999, delivery Japan end Dec. for 11-13 months, at USD 11,000 daily, option further 11-13 months at USD 11,750 daily. – On handies, US Gulf / Med. / B. Sea and Cont. areas remain firm. Some strong numbers were discussed for tonnage, especially in the Gulf and particularly for those ships willing to move Petcoke cargoes. – In the East, Noble has fixed M/V «Icl Raja Rajan,» 53,644 dwt, built 1979, delivery end Dec. Goa (Indias), redelivery Far East, at USD 10,000 daily. – On smaller sizes, Seaboard Marine has fixed M/V «Mandarin Moon,» 39,339 dwt, built 1984, delivery Dec. 15-20 Equador, trip via Chile, redelivery Mexico, at USD 10,000 daily.