ECONOMY

Shipping Report

TANKERS Firmer conditions on Suezmaxes out of West Africa, with market rebounding from the low W/S 130s to W/S 145. – Due to the short supply of VLCCs in the area, market rates are expected to rise further. – CSSA has fixed M/T «Kuzbass» for 130,000 tons of cargo, loading December 8, discharging UKC / Med., at W/S 132.5, while Atmi for same cargo, loading December 16, discharging US Gulf, has fixed M/T «Wilmina» at W/S 140. – North Sea more active, with a number of fixtures not only on Aframaxes but on Suezmaxes as well. – Vitol has fixed M/T «Stena Conductor» for 100,000 tons of cargo, loading December 1, discharging UKC, at W/S 160, while Irving has fixed OSG tonnage for 80,000 tons of cargo, loading December 5 Sture, discharging Canaport, at W/S 205. – Med. on Aframaxes stable, as are Caribs for 70,000-ton round-trip voyages. – Stasco has fixed M/T «Hamane Spirit» for 80,000 tons of cargo, loading November 24 Libya, discharging Med., at W/S 190, while in Caribs, Valero has fixed M/T «SKS Tiete» for 70,000 tons of cargo, loading November 29, East Coast Mexico, discharging US Gulf, at W/S 202.5. – In Arabian Gulf, KPC has fixed M/T «Sunlight Jewel» for 275,000 tons of cargo, loading December 8, discharging US Gulf, at W/S 120. DRY CARGO Capers cargoes still in short supply, however good demand still exists in T/C periods. – Cosco has fixed M/V «Cape Falcon,» 161,475 dwt, built 1993, delivery Pasero end-December for two years’ trading at USD 39,750 daily. – On Panamaxes, there are talks of better rates for those with later fixings, while earlier ships have difficulties being employed. Rates have fallen over the past week, though the market expects to rebound shortly. – In the East, some brokers suggest that the market is ready for another rise, but so far the emphasis has been in back-haul runs. – Augustea has fixed M/V «De Ping Hai,» 74,500 dwt, built 2002, delivery November 17-22 Japan, redelivery US Gulf, at USD 22,500 daily. – In Atlantic, Hanjin has fixed M/V «Capt Stefanos,» 74,077 dwt, built 2001, delivery US Gulf November 25-30, redelivery Far East, at USD 26,000 daily and USD 470,000 ballast bonus. – On grain cargoes, M/V «Turandot» for 30,000 tons of cargo, loading US Gulf end-November – beg.-December, discharging Morocco, was fixed at USD 35.00 per ton with 6,000-ton load and 2,500 tons discharge.