ECONOMY

Shipping Report

TANKERS Firmer conditions on Suezmaxes out of N. Sea with Hess and BP having fixed Caribs and US Gulf destinations, respectively, at W/S 155. – On Aframaxes in the same area, the market is looking quieter with good demand only for FO transportation to various destinations. – The Med. is steady with latest fixtures for prompt loadings at W/S 250, while at later dates, the 80,000-ton cargo liftings are fixed at W/S 225-235. – Caribs more active out of Colombia and Mexico. Rates are hovering around levels of W/S 130-135. – W. Africa very firm with Hess fixing for replacement M/T «Front Warrior» for 135,000 tons of cargo, loading Jan. 5, discharging USAC, at W/S 177.5. – In the Med., Chevtex has fixed M/T «Minerva Maya» for 80,000 tons of cargo, loading end Dec. Black Sea, discharging Med., at W/S 250. – In the Cont., M/T «Framura» for 80,000 tons of cargo, loading end Dec. UKC, discharging USAC, has fixed at W/S 215. – In Caribs, Navion has fixed M/T «Clyde Spirit» for 70,000 tons of cargo, loading Dec. 25, discharging US Gulf, at W/S 137.5. – In W. Africa, Sun has fixed M/T «Venetia» for 130,000 tons of cargo, loading Jan. 12, discharging USAC, at W/S 157.5. DRY CARGO The upward trend on indices and freight rates continues. – On Capers, Kline has fixed M/V «Sea Azalea,» 171,000 dwt, built 1999, delivery Passero February 1-10 for 10-12 months’ trading, at USD 19,250 daily. – The Atlantic market in Panamaxes appears quieter. In the traditional grain route, US Gulf / Japan Conagra for 54,000 tons of cargo, loading Jan. 1-15, has fixed at USD 25.25 per ton with 11 days all purposes. – In the East, Shinwa has fixed M/V «Millenium Venture,» 72,561 dwt, built 2000, delivery/redelivery Japan, trip via Australia, at USD 13,500 daily. – On smaller sizes, Seaboard has fixed, M/V «Ken Emerald,» 38,200 dwt, built plate, Dec. 14-16, redelivery S. Africa, at USD 8,600 daily and USD 175,000 ballast bonus.