ECONOMY

Shipping Report

-Modern Aframax in the Med. at W/S 107.5 and older at W/S 95. -Suezmaxes in the same area at W/S 75 and W/S 70 respectively. -Cont. market after the W/S 140s back again at W/S 120-125 while Caribs still at W/S 135 for the 70,000 tons cargo liftings. -Suezmaxes still hovering out of Africa at W/S 70s levels. -In the Med. Repsol has fixed M/T Montrose for 80,000 tons of cargo loading Nov. 28 Libya discharging Spain at W/S 95. -In the Continent Chevtex for 80,000 tons of cargo loading Nov. 25 UK discharging UK has fixed Lundqvist tonnage at W/S 120. -In Caribs Premcor has fixed M/T Astro Altair for 70,000 tons of cargo loading Nov. 28 East Coast Mexico discharging US Gulf at W/S 132.5. DRY CARGO The outlook is bleak in the Atlantic for Panamaxes unless new business is provided. -Far East market still at low levels which seems to be the bottom line. Iron traders out of Indian Ocean are taken the large modern Ecos at better rates. -Atlantic on Handies looks healthier with one report suggesting that a 1985 41,000 dwt Turkish vessel had done a short hop out the US Gulf at USD 8,250 daily. -ON T/C periods Lauritzen is talking to a fancy 29,000 dwt Handy vessel for 12 month period at USD 6,600 daily but with no other info having been disclosed. -On Capers Eastern Rich has fixed M/V Anangel Solidarity 161,545 dwt, built 1993, delivery/redelivery China Dec. 15-30 trip via W. Australia at USD 8,500 daily. -On Panamax in Far East Kline has fixed M/V Great Century 73,747 dwt, built 1999, delivery Indonesia beg. December redelivery Japan at USD 5,000 daily and USD 30,000 ballast bonus. -In Atlantic Bottiglieri has fixed M/V Alpha Afovos 74,428 dwt, built 2001, delivery UK end Nov. for 2 legs at USD 6,250 daily. -On smaller sizes Clipper has fixed M/V H.Hasam Yardim 41,054 dwt, built 1985, delivery end Nov. US Gulf redelivery S. America at USD 8,250 daily.