ECONOMY

Shipping Report

TANKERS VLCCs still in good demand with rates out of Arabian Gulf, East and West at W/S 155 and W/S 135, respectively. – Suezmax rates out of W. Africa on an upward trend, with Itochu having fixed M/T «Oliver Jacob» for 130,000 tons of cargo, loading Dec. 20, discharging US Gulf, at W/S 170. – Cont. is also firm, with Navion having fixed M/T «Tromso Fidelity» for 135,000 tons of cargo, loading Nov. 28, discharging US Gulf, at W/S 140. – Aframaxes in the same course, with the Med. at W/S 200-205 for modern tonnage and even the Black Sea at W/S 215. Single hulls built in the ’90s at W/S 200, while those of the late ’80s at W/S 185-190 with approvals. – Cont. stable at high levels, while Caribs are strengthening further, with Marathon having fixed M/T «SKS Tiete» for 70,000 tons of cargo, loading Dec. 7, discharging USAC, at W/S 245. – In the Med., Tamoil for 80,000 tons of cargo, loading mid-Dec. Libya, discharging Med., has fixed M/T «Scorpius» at W/S 195. – In the Cont., BHP has fixed M/T «Nordic Torinita» for 80,000 tons of cargo, loading Dec. 7, discharging UKC, at W/S 200. – In Caribs, Valero has fixed AET tonnage for 70,000 tons of cargo, loading Dec. 6, discharging US Gulf, at W/S 245. – In W. Africa, Hess has fixed M/T «Genmar Gulf» for 130,000 tons of cargo, loading Dec. 28, discharging Caribs, at W/S 160. DRY CARGO There is further evidence of a firmer market in the East for Capers as well as in the Atlantic. – In the East, Mol Navix has fixed M/V «Chrismir,» 160,000 dwt, built 1997, delivery Japan via West Coast Canada, at USD 70,000 daily, while in the Atlantic, M/V «Formosabulk Duke,» 170,085 dwt, built 2001, delivery UKC end-Nov. – beg.-Dec., was fixed at USD 75,000 daily. – On Panamaxes, Pacific market on the upswing for spot fixtures, driven by constant demand for tonnage on period. – Suisse Atlantique, has fixed M/V «Navios Magellan,» 74,333 dwt, built 2000, delivery Far East beg.-Feb for two years’ trading at USD 20,000 daily. – In Atlantic, Coeclerici has fixed M/V «Alma Ata,» 76,008 dwt, built 1997, delivery Atlantic mid-Dec. for 12-month period at USD 26,000 daily. – On smaller sizes, Asahi has fixed M/V «Hebei Princess,» 69,043 dwt, built 1994, delivery/redelivery Japan end-Nov. – beg.-Dec., trip via Australia, at USD 37,000 daily. – On ore cargoes, TKS has fixed M/V «Pytchley» for 170,000 tons of cargo, loading Dec. 1-15, Brazil, discharging Rotterdam, at USD 18.25 per ton with six days all purposes.