ECONOMY

Shipping Report

TANKERS A quiet start, with modern aframaxes in the Med. still being fixed above W/S 200 out of the Black Sea, while normal cross-Med. cargoes are being fixed at W/S 195. – The adverse weather conditions in the Black Sea have created shortage of supply tonnage. – Cont. is active, mainly due to cargoes out of the Baltic Sea. The 100,000-ton cargoes are being fixed at W/S 160, while normal cross-UK cargoes are at W/S 180. – Caribs remain strong with the 70,000-ton cargo liftings being fixed above W/S 200. Valero has fixed M/T «Olympic Sponsor,» loading November 22, discharging USAC, at W/S 211.25. – VLCCs are very firm, with 270,000-ton cargoes being fixed around W/S 155. Sinochem has fixed M/T «Hyundai Star,» loading December 10, discharging China, at above-said levels. – Suezmaxes out of West Africa are quieter, with Sun having fixed M/T «Sabine» for 130,000 tons of cargo, loading November 29, discharging USAC, at W/S 157.5. DRY CARGO Weaker conditions for all sizes and all areas. – All indices are heading in a downward direction, with the Baltic index last Friday having lost 41 points, ending up at 4,308. – Capers too have lost 36 points, totaling 6,493, while the Panamax index has lost 77 points, totaling 3,930. – On T/C periods, M/V «Bulk Asia,» 169,770 dwt, built 2001, for 8-10 months’ trading, was fixed at USD 63,000 daily. – Panamaxes are also being fixed at lower rates. Vessels with destinations east are being fixed at less than USD 30,000 daily. Sinochart has fixed M/V «Great Luck,» 71,399 dwt, built 1998, delivery UKC, redelivery Far East, at USD 29,500 daily. – Round-trip voyages in the East are still being fixed at comparatively higher freight rates than those in the Atlantic. Lino has fixed M/V «Heibi Princess,» 69,997 dwt, built 1996, delivery China November 16-20, trip via Indonesia, redelivery Japan, at USD 32,250 daily. – On smaller sizes, Farenco has fixed M/V «Nema M,» 43,176 dwt, built 1995, delivery Muscat end of November, trip via West Coast India, redelivery China, at USD 18,000 daily.