ECONOMY

Shipping Report

Another quiet day with Aframax in the Med. slipping below W/S 100. Cepsa has fixed at W/S 90 and Agip has taken two prompt tonnage at similar levels. – Cont. also with lesser inquiry and levels around W/S 97.5. – Caribs remains quiet, with seasonal parties affecting market. – Suezmaxes very little in the Med., while on Cont., Irving has fixed M/T British Harrier, loading s.voe Dec. 28 for 135,000 tons at W/S 87.5. – Sun in W. Africa has taken two vessels at W/S 75 with dates end of December while Agip with destination Trieste has taken Metrofin tonnage at W/S 73.75. – In the Med., Dea for 80,000 tons of cargo, loading Dec. 8 Libya, discharging Italy has fixed M/T Alfa Germania at W/S 102.5 while Tamoil for same cargo quantity, loading Dec.10, discharging Med., has fixed Iran tonnage at W/S 105. – On the Continent, BP for 80,000 tons of cargo, loading Dec. 6 for UKC round voyage has fixed M/T Valiant at W/S 97.5. – In Caribs, BPamoco has fixed M/T Nordisle for 70,000 tons of cargo, loading Dec.7 Colombia, discharging US Gulf at W/S 135. – In W.Africa, Exxonmobil for 130,000 tons of cargo, loading Dec. 17, discharging US Gulf, has fixed M/T Front Mindanao at W/S 75. DRY CARGO Chartering market offers hardly encouraging news. Slow Panamax demand in the Atlantic gives owners little hope for a more promising future. – A slightly firmer Handy market in the east. Australian charterers for round voyages are fixing tonnage of 28-30,000 tons at USD 6,000 daily. – The Black Sea market, although strong for tonnage below 20,000 dwt, is showing remarkable weakness for 25-28,000 dwt bulkers. – On Panamax in Far East, Hanjin has fixed M/V Millenium Venture, 72,561 dwt, built 2000, delivery beg. Dec. Japan, for 3-5-month period at USD 5,500 daily for the first 45 days and USD 6,700 for the balance. – In Atlantic, Tradigrain has fixed M/V Cupid Feather, 68,621 dwt, built 1994, delivery Argentine mid-Dec., redelivery Indonesia at USD 6,300 daily and USD 100,000 ballast bonus.