ECONOMY

Shipping Report

Another quiet day with Agip in the Med. and for 80,000 tons of cargo out of Sidi Kerir on the ninth has received about nine offers, ranging from W/S 105 to W/S 115. -Cont., as in the Med., lacking fresh orders with modern tonnage at W/S 105. -Caribs maintaining levels of W/S 135 for 70,000-ton cargo liftings, while on Suezmax rates at W/S 75 out of W. Africa with destination in the USA. -In the Med., Conoco for 80,000 tons of cargo loading Dec. 5 Syria, discharging Med., has fixed M/T Black Sea at W/S 102.5. -In the Continent, Petroplus for 80,000 tons of cargo loading mid Dec. Norway. discharging UKC, has fixed M/T Petrodvorets at W/S 125. -In W. Africa, Repsol has fixed M/T Tribute for 130,000 tons of cargo loading Dec. 17, discharging UKC at W/S 71.25. DRY CARGO Panamax market is all the same with a number of prompt vessels in the Atlantic, while the attention is still focused in the East with rates continuing to show relative strength. -Good demand for quality tweendeckers in the Continent. Charterers are reacting quickly at rates safely above USD 6,000 daily for W. Africa destination. -Trading on the S. American West Coast has gone fairly quiet. -On Panamax in Far East, Pan Ocean has fixed M/V Nordmoritz 72,515 dwt, built 1995, delivery China Dec. 5-10 for 3-5 months period at USD 6,250 daily, while Sinochart has fixed M/V Gema Pertiwi 64,780 dwt, built 1983, delivery Australia Dec. 10-15, redelivery China at USD 5,000 daily and USD 50,000 ballast bonus. -In Atlantic, Tradigrain has fixed M/V Great Bless 73,251 dwt, built 1997, delivery UKC beg. December trip via France, redelivery Indonesia at USD 6,250 daily. -On smaller sizes, Pan Ocean has fixed M/V Aliacmon River 38,858 dwt, built 1994, delivery UKC end November trip via Germany, redelivery Japan at USD 7,900 daily.