ECONOMY

Shipping Report

TANKERS Very little fresh inquiry in the Med. and Black Sea, while N. Sea has a number of cargoes, mainly out of Baltic. – Rates are holding with Erg in the Med. having fixed M/T «Moss» for 80,000 tons of cargo loading Dec. 13 Libya discharging Med. at W/S 230 while Api has fixed M/T «Hamane Spirit» for same cargo loading Egypt discharging Italy at W/S 210. – In the N. Sea, Petrogal has fixed Lundqvist tonnage for 80,000 tons of cargo loading Dec. 11 UK discharging Portugal at W/S 190. – W. Africa is quieter on Suezmaxes, with rates around W/S 160 while VLCCs at W/S 150 with destination East and W/S 115 with destination Gulf. – In the Med., OMV for 80,000 tons of cargo loading Dec. 10 Algeria discharging Italy has fixed M/T «Minerva Zenia» at W/S 210. – On Suezmax, Chevtex for 135,000 tons of cargo loading Dec. 27 discharging UKC/Med. has fixed M/T «Tromso Trust» at W/S 195. – In the Cont., Petrogal has fixed Lundqvist tonnage for 80,000 tons of cargo loading Dec. 11 UK discharging Portugal at W/S 190. – In the Arabian Gulf, Reliance for 260,000 tons of cargo loading Dec. 22 discharging India has fixed M/T «Nuri» at W/S 160. DRY CARGO Rates on Capers are still firm in the East while some brokers are expecting lesser inquiry from Richards Bay for Dec. dates. – On T/C periods Sinochart has fixed M/V «Marvellous» 169,150 dwt, built 2000, delivery Far East end Jan – early Feb for 15-17 months trading at USD 55,800 daily, while Mol Navix has fixed M/V «Cape Kestel» 160,849 dwt, built 1993, delivery Korea Dec. 10-12 trip via W. Australia redelivery Japan at USD 67,000 daily. – On Panamaxes, period rates remain strong. Rates for 1 year periods in the Atlantic reached USD 31,000 daily for about 12 months with Transfield reportedly taking the 76,662 dwt, built 2002, M/V «Navios Star» at USD 31,000 daily. – In the East M/V «Morviken» 72,495 dwt, built 1999, delivery Korea Dec. 15-20 for 11-13 months trading was fixed at USD 30,000 daily. – Mol Navix has fixed M/V «Seaguardian» 75,200 dwt, built 1999, delivery China Dec. 1-10 trip via East Coast Australia redelivery Japan at USD 41,000 daily. – In Atlantic, Navios has fixed M/V «Triton» 75,336 dwt, built 2001, delivery Passero beg. Dec. trip via US Gulf at USD 35,500 daily while Bocimar has fixed M/V «Conrad Oldendorff» 76,623 dwt, built 2002, delivery Passero beg. Dec. trip via Orinoco redelivery UKC at USD 37,500 daily. – On smaller sizes, Brave Bulk Transport has fixed M/V «Han Hai» 45,664 dwt, built 1996, delivery beg. Dec. China for 90-115 days trading redelivery Far East at USD 25,000 daily. – On coal cargoes, Pan Ocean has fixed M/V «Sun P» for 65,000 tons of cargo loading Richards Bay Dec. 20-30 discharging Morocco at USD 23.80 per ton with 1 day load and 22,000 tons discharge.