ECONOMY

Shipping Report

TANKERS North Sea very active, with a large amount of outstanding inquiry. Rates have already firmed significantly, with 80,000 tons of cargoes having been fixed at W/S 225. – The Med. has little inquiry, while rates remain stable. Petroval for 80,000 tons of cargo, loading December 22 Black Sea, discharging UKC/Med., has fixed M/T «Kazan» at W/S 230. – Caribs are also stable, with Valero having fixed M/T «Genmar Baltic» for 70,000 tons of cargo, loading December 16, discharging US Gulf, at W/S 245. – North Sea on Suezmaxes at W/S 170 for cross trips, while Med. remains low. – West Africa is a little quieter, with one vessel reported at W/S 150 with destination USAC. – VLCCs busy, and the market is ready for increased figures. Exxonmobil has fixed M/T «Front Vanadis» for 260,000 tons of cargo, loading December 23, discharging Far East, at W/S 152.5. DRY CARGO Market stable at high numbers, with good demand for Capers and Panamaxes too. – Biffex index on December 3 has moved up by 20 points amounting to 4,484. Bulkcarrier index gained 14 points, totaling 6,268, while Panamax rose 10 points, totaling 4,521. – On Capers, T/C period Coeclerici has fixed M/V «Vine,» 123,503 dwt, built 1990, delivery China for 12 months’ trading at USD 40,500 daily. – In the Atlantic, Hanjin has fixed M/V «Anangel Legend,» 161,000 dwt, built 1996, delivery UK December 20-25, trip via Colombia and Turkey, redelivery Passero, at USD 63,000 daily. – On Panamaxes in Far East, d’Amato has fixed M/V «Mykali,» 74,800 dwt, delivery Japan for two years’ trading at USD 20,500 daily, while in Atlantic Goldbeam has fixed M/V «Alfa Afovos,» 74,428 dwt, built 2001, delivery Rotterdam December 10-20, for 23-25 months’ trading at USD 24,500 daily. – On the smaller sizes, M/V «Aliacmon River,» 38,858 dwt, built 1994, delivery Dominican Republic December 5-10, balance of period about 4 months’ trading, redelivery Far East, at USD 22,500 daily. – On the coal cargos, Swiss Marine has fixed M/V «Yue Shan» for 160,000 tons of cargo, loading at Richards Bay January 1-10, discharging Turkey, at USD 23.75 per ton with two days’ load and 25,000 tons of discharge.