ECONOMY

Shipping Report

TANKERS Very firm rates in all areas and for all sizes. – In Arabian Gulf, Jomo has fixed M/T «Helios Breeze» for 250,000-ton cargo, loading Jan. 10, discharging Japan, at W/S 150. Reliance fixed M/T «Nuri» for 270,000-ton cargo, loading Jan. 5, discharging Far East, at W/S 160. – The picture is similar for Suezmaxes in all areas. In the N. Sea, the 135,000-ton cargoes are being fixed at W/S 195 with destination US Gulf, while in the Med., M/T «Sea Racer» has been fixed for 140,000 tons of cargo, loading Jan. 6, Russia, discharging Med., at W/S 170. – In W. Africa, things also seem to be moving in the right direction, with Sun having fixed M/T «Cosmic» for 130,000 tons of cargo, loading Jan. 10, discharging USAC, at W/S 200. – Aframaxes in good demand, with most of the Med. cargoes being fixed around W/S 250. Stasco has fixed M/T «Olympic Spirit II» for 80,000 tons of cargo, loading Dec. 24 Algeria, discharging US Gulf, at the above levels. – In the N. Sea, M/T «Hanne Knutsen» for 100,000 tons of cargo, loading Dec. 20, discharging UKC, was fixed at W/S 400, while in Caribs, BP has fixed M/T «Tsunami» for 70,000 tons of cargo, loading Dec. 29 Colombia, discharging US Gulf, at W/S 260. – In the Med., Petrogal for 80,000 tons of cargo, loading Dec. 24 Algeria, discharging Portugal, has fixed M/T «Minerva Emma» at W/S 247.5. – In West Africa, Koch for 130,000 tons of cargo, loading January 8, discharging US Gulf, has fixed M/T «Ilmina» at W/S 180. DRY CARGO Charterers talking the market down in Atlantic for Capers; some owners have early tonnage to cover. Their rates are lower than previously. – On Panamaxes, demand for period fixtures still strong, especially in the East. Owners talking USD 34,000 daily for 1 year’s cover. – In the Atlantic, the picture is similar, with Daeyang having fixed M/V «Pasquale Della Gatta,» 75,473 dwt, built 1996, delivery Germany, Jan. 5-10 for 12 months’ trading at USD 31,500 daily. – Rates on Handy/Handymaxes continue to firm with tonnage of almost all sizes in short supply. A 34,000 dwt ship, built 1982, is being discussed as being fixed for 5-7 months’ trading at USD 23,00 daily. – On Panamax in Far East, Goldbeam has fixed M/V «Endless,» 73,427 dwt, built 1999, delivery Jan. 1-15 China for 11-13 months’ trading at USD 32,000 daily. – In Atlantic, Swiss Marine has fixed M/V «Ioannis 2,» 77,300 dwt, built 1982, delivery 14-20 Sardinia, trip via S. Africa, redelivery UKC/Med., at USD 29,000 daily. – On coal, Hydro Cantabrica has fixed M/V «Big Bang» for 160,000 tons of cargo, loading Jan. 15-25, S. Africa, discharging Spain, at USD 23.15 per ton with 2-day load and 25,000 tons discharge. – On ore cargoes, Corus for 70,000 tons of cargo, loading St Lawrence Jan. 1-7, discharging UK, has fixed M/V «Seattle Trader» at USD 18.00 per ton with 5 days all purposes.