ECONOMY

Shipping Report

TANKERS VLCCs are firm, with a lack of tonnage in the Arabian Gulf. – In the Atlantic, some fixtures have been concluded out of W. Africa; rates around W/S 140 for the US Gulf. – Emerald for 260,000 tons of cargo, loading Dec. 28, discharging US Gulf / East Coast Canada, has fixed M/T «Courtney Bay» at W/S 140 – W/S 142.5 respectively. – N. Sea on Suezmaxes still low, while the Med. is more active on the back of the firm rates out of W. Africa. – Sun for 130,000 tons of cargo, loading Dec. 24, discharging USAC, has fixed M/T «Poetic» at W/S 160; Hess for same cargo quantity, loading Dec. 28, discharging St Croix, has fixed M/T «Genmar Gulf» at the same levels. – Aframaxes stable in Med., with modern tonnage at W/S 215 out of the Black Sea and W/S 200 in the normal trips. – Cont. and Caribs stable too. – In the Cont., Repsol has fixed M/T «Prospect» for 80,000 tons of cargo, loading Dec. 6 UK, discharging Spain at W/S 193.75, while in Caribs, Valero fixed M/T «Iblea» for 70,000 tons of cargo, loading Dec. 9 Colombia, discharging US Gulf at W/S 245. – In the Med., BP has fixed M/T «Goltland Spirit» for 80,000 tons of cargo, loading Dec. 8 Syria, discharging Med., at W/S 200, while CSSA for same cargo, loading Dec. 1, Algeria, discharging UKC/Med. has fixed M/T «Krasnodar» at W/S 187.5. – In W. Africa, Citgo has fixed Genmar tonnage for 130,000 tons of cargo, loading Dec. 28, discharging US Gulf, at W/S 160, while on VLCCs, Stasco for 260,000 tons of cargo, loading Dec. 28 with same destination, has fixed tanker tonnage at W/S 137.5. – In Arabian Gulf, HPCL for 137,00 tons of cargo, loading Dec. 17, discharging India, has fixed M/T «Olympic Faith» at W/S 167.5. DRY CARGO Firm conditions on Capers and Panamaxes in both areas. – On Capers, Transfield fixed M/V «Formosabulk Brave,» 170,108 dwt, built 2001, delivery Dec. 1-3 Germany, trip via Brazil, redelivery China, at USD 75,000 daily. – Interesting fixtures for T/C periods on Panamaxes. Demand strong; Cargill fixed M/V «Cumbria,» 69,903 dwt, built ’94, delivery Far East beg. Jan., for 12 months’ trading at USD 25,500 daily; Cargill also fixed M/V «Equinox Voyager,» 52,000 dwt, built 2002, delivery Malaysia end-Nov. for 4-6 months’ trading at USD 25,000 daily. – High freight rates being paid for Handymaxes. M/V «Antonis,» 45,090 dwt, built 1984, delivery Thailand, Dec. 10-15, redelivery Spain, was fixed at USD 21,500 daily. – On Panamaxes in Far East, NYK has fixed M/V «Pacmonarch,» 74,381 dwt, built 2000, delivery China end-Nov., redel. Japan, USD 40,000 daily. – In Atlantic, Pioneer metals fixed M/V «Ad Astra,» 72,891 dwt, built 1999, delivery France, trip via Brazil, redel. Far East, USD 32,000 daily. – On grain cargoes, Dreyfus for 35,000 tons of cargo, loading US Gulf Dec. 12-21, discharging Morocco, paid USD 36/ton with 8,000-ton load and 3,500 tons discharge.