ECONOMY

Shipping Report

-Aframaxes in the Med. at steady levels in spite of the delays in Lavera and Trieste, while Cont. moved further downwards at W/S 115 for 80,000-ton round voyages. -Suezmaxes out of W. Africa still around W/S 70 for US Gulf/USAC destinations. -In the Med., Most has fixed M/T Yannis M for 80,000 tons of cargo loading Dec. 2 Syria, discharging Italy at W/S 107.5. -In the Continent, Dreyfus for 80,000 tons of cargo loading Nov. 25 UK, discharging Germany, has fixed M/T Nordic Yukon at W/S 115. -In Caribs, Ergon for 70,000 tons of cargo loading Nov. 24, discharging US Gulf, has fixed M/T Mare Dorico at W/S 130. -In W. Africa, BP for 130,000 tons of cargo loading Dec. 15, discharging Med., has fixed M/T Astro Capella at W/S 70. DRY CARGO Panamax owners in the East are glad to see rates improving to USD 5,000 daily for straight trips to Europe. -Brazil on Handies remains quiet but brokers noticed a slight improvement in the market’s sentiment. Owners of Tweendeck tonnage are still relying on sugar cargoes from Brazil. -On Panamax grain routes in Atlantic, Marubeni for 54,000 tons of cargo loading beg. January US Gulf, discharging Japan, has fixed M/V Swiss Marine at USD 16.75 per ton with 11 days all purposes, while M/V Istria for 55,000 tons of cargo loading Nov. 25-30 US Gulf also, discharging Egypt, has fixed at USD 10.25 per ton with 10,000-ton load and 6,000 tons discharge. -In Far East, MISR has fixed M/V Altair 74,500 dwt, built 2001, delivery S. Australia Dec. 1-8, redelivery Egypt/Red Sea at USD 5,500 daily and USD 100,000 ballast bonus. -In Atlantic, NNC has fixed M/V Hugo Selmer 65,427 dwt, built 1986, delivery end Nov.-beg. Dec. France, redelivery Egypt Med. at USD 4,750 daily. -On smaller sizes, ABC has fixed M/V Libra 48,320 dwt, built 1990, delivery Amsterdam end Nov., redelivery US Gulf at USD 7,000 daily and USD 40,000 ballast bonus.