ECONOMY

Shipping Report

TANKERS Rates remain stable on Aframaxes in all areas, with modern tonnage in the Med. loading out of Black Sea fixed at W/S 235-240, while those built in the 1980s are near W/S 200. – Continent firm as well as Caribs, with a number of fixtures of round voyages either from Mexico or deep Caribs above W/S 240. – On Suezmaxes, Cont. is very quiet and the Med. too. – W. Africa has a number of cargoes, while rates are above W/S 150 with destination United States. – VLCCs with destination East at W/S 142.5. Idemitsu for 260,000 tons of cargo loading Dec. 24 discharging Japan has fixed M/T «New Venture» at the above levels. – In the Med., Stasco for 80,000 tons of cargo loading Dec. 14 Syria discharging Med. has fixed M/T «Silver Paradise» at W/S 232.5. – In the Cont., Repsol has fixed Shell tonnage for 80,000 tons of cargo loading Dec. 15 UK discharging UKC-Med. at W/S 200 – W/S 190 respectively. – In Caribs, Citgo for 70,000 tons of cargo loading Dec. 14 discharging US Gulf has fixed M/T «Genmar Gabriel» at W/S 245. – In W. Africa, Koch for 130,000 tons of cargo loading Dec. 30 discharging US Gulf has fixed M/T «Arteaga» at W/S 147.5. – In Arabian Gulf, S. Oil for 260,000 tons of cargo loading Dec. 20 discharging S. Korea has fixed M/T «Golden Stream» at W/S 150. DRY CARGO Caper owners quite confident that rates will remains steady or even firmer in the Atlantic area due to shortage of tonnage. – On T/C periods Cosbulk has fixed M/V «Constantia» 171,000 dwt, built 1996, delivery beg. March 2004 for 2 years trading at USD 41,500 daily. – On Panamaxes, Far East is quieter with very few early ships left to be fixed. – In the Atlantic rates remain strong in all sizes. Wilmar has fixed M/V «Ever Shining» 74,346 dwt, built 1999, delivery US Gulf 12-15 Dec. redelivery Far East, at USD 35,000 daily and USD 570,000 ballast bonus. – On Panamax in Far East, Mol Navix has fixed M/V «Beauty Sea» 69,347 dwt, built 1991, delivery Malaysia beg. Dec. trip via East Coast Australia redelivery Japan, at USD 41,000 daily. – On smaller sizes, Shadab has fixed M/V «Sealady» 42,183 dwt, built 1995, delivery Thailand Dec. 4-10 redelivery Pakistan, at USD 23,000 daily. – On grain cargoes, Japanese charterers for 54,000 tons of cargo loading US Gulf 1-15 Feb. discharging Japan have fixed at USD 54.50 per ton with 11 days all purposes.