ECONOMY

Shipping Report

TANKERS Steady inquiry flow of inquiry in the Cont. still giving high incomes for the Aframax and Suezmax in the area. – Stasco has fixed M/T «P. Pavlovsk» for 80,000 tons of cargo, loading Denmark Dec. 28, discharging UK, at W/S 252.5, while Conoco with destination US Gulf has fixed M/T «Nordlight» at W/S 260. – Med. still quiet, despite delays, and if the new cargoes are so limited one would expect rates to ease a little. – Tamoil in a normal Med. round voyage has fixed M/T «Mayon Spirit» for 80,000 tons of cargo, loading Dec. 23, at W/S 240. – Caribs stable, with SPI having fixed M/T «Olympic Sponsor» for 70,000 tons of cargo, loading Dec. 25, discharging USAC, at W/S 255. – VLCCs in good demand out of Arabian Gulf with CSSA having fixed M/T «Tantramar» for 280,000-ton cargo, loading Jan. 8, discharging US Gulf-UKC/Med., at W/S 115-W/S 120 respectively. Thaioil for 265,000-ton cargo, loading Jan. 3, discharging Thailand, has fixed M/T «Formosa P Chall» at W/S 165. – Suezmaxes out of W. Africa are at steady levels and expected to move upward. Addax has fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading Jan. 6, discharging Caribs, at W/S 155. – In the Cont., Chevtex for 80,000 tons of cargo, loading Dec. 24, discharging UKC, has fixed M/T «Laura» at W/S 250. – On Suezmax, Navion has fixed M/T «Seaprince» for 135,000 tons of cargo, loading Dec. 26 West Coast Norway, discharging Med., at W/S 152.5. DRY CARGO Capers market expected to rise further, with Atlantic for front-haul trips paying near to USD 85,000 daily. – Worldlink has fixed M/V «Mineral Oak» 165,693 dwt, built 1996, delivery Rotterdam, trip via St Lawrence, redelivery China, at USD 82,500 daily, while M/V «Shibumi» 166,058 dwt, built 1984, was fixed at same levels. – Panamaxes in the East have more period activity. Brokers are suggesting that the market is due for another move up. – Atlantic market remains fairly balanced, with minerals largerly underpinning activity. – Handy/Handymaxes very strong in the Atlantic area, with a 52,000 dwt been fixed at USD 43,000 daily for a trip East Coast Mexico / Far East. – On Panamax in Far East, Pan Ocean has fixed M/V «Nordrhine,» 75,080 dwt, built 2001, delivery China mid-Dec., trip via Indonesia, redelivery S. Korea, at USD 40,000 daily, while Cosbulk has fixed M/V «Oceanic Esprit,» 69,458 dwt, built 1990, delivery China January 1-5 for 4-6 months’ trading at USD 36,500 daily. – On smaller sizes, Oldendorff has fixed M/V «Nicholas,» 40,016 dwt, built 1986, delivery Dakar for two legs via Brazil, redelivery Far East, at USD 27,000 daily. – On coal, Aep for 160,000 tons of cargo, loading beg. January Colombia, discharging UK, has fixed M/V «Koutalianos» at USD 19.25 per ton with 50,000-ton load and 45,000 tons discharge.