ECONOMY

Shipping Report

TANKERS Aframaxes are quieter in the N. Sea with UK/Cont rates around W/S 205, and there is still some talk about FO for the transatlantic fixings. – Med. is steady, with modern Aframaxes at W/S 225 and Suezmaxes around W/S 145. – W. Africa seems to have peaked with Emerald having fixed M/T «Genmar Harriet» for 130,000 tons of cargo loading Jan. 16, discharging USAC, at W/S 152.5, while Elpaso has fixed M/T «Crude Okto» for the same cargo quantity loading Jan. 14, discharging US Gulf, at W/S 167.5. – Caribs remain quiet with Venezuela on strike and rates out of Mexico at W/S 130 for 70,000-ton cargo liftings. – In the Med., Gunvor for 80,000 tons of cargo loading Dec. 31 Russia, discharging Med., has fixed M/T «Bravery» at W/S 225. – In the Cont., Repsol for 80,000 tons of cargo loading Dec. 30 France, discharging Spain, has fixed M/T «Hildegaard» at W/S 215. – In Caribs, Petrobras for 70,000 tons of cargo loading Dec. 21, discharging USAC, has fixed M/T «Teseo» at W/S 135. – In W. Africa, Petrogal for 130,000 tons of cargo loading Jan. 16, discharging Portugal, has fixed M/T «Matilda» at W/S 159. – In Arabian Gulf, Chevtex has fixed M/T «Safwa» for 270,000 tons of cargo loading Jan. 24, discharging US Gulf / USAC, at W/S 97 and W/S 107, respectively. DRY CARGO Rates on Capers remain strong with the Australian coal voyages running at around USD 24,000-25,000 daily. – On Panamaxes, rates have remained generally strong with optimism that the upcoming holidays will have little impact. – In the East, rates for the longer round-trip voyages are well established at rates in the mid.-USD 13,000 to upper-USD 13,000 daily range. – The Atlantic Gulf / Japan voyages are fixed at around USD 11,000 daily with USD 300,000 ballast bonus. – Handies still enjoying high freight levels mainly out of US Gulf. Panocean has fixed the 42,578 dwt, 1996 built, «Kolocep» for a trip to the Far East at USD 14,000 daily. – On Panamaxes in Far East, Dreyfus has fixed M/V «Miltiadis,» 72,345 dwt, built 1995, delivery Japan end Dec., redelivery Far East, at USD 13,500 daily. – In Atlantic, Bunge has fixed M/V «New Champion,» 70,296 dwt, built 1996, delivery US Gulf end Dec., redelivery Far East, at USD 11,750 daily and USD 335,000 ballast bonus.