ECONOMY

Shipping Report

-Aframaxes in Caribs are negotiated at W/S 175 for the 70,000 tons cargo liftings while on Cont., rates from W/S 105 moved up to W/S 125 for December loadings. Repsol already has 5-6 offers in the W/S 155-60 range. -Med. not reacting yet, with rates still at W/S 105-107.5 but with a number of cargoes still to be fixed. -Repsol has fixed M/T Missouri for 80,000 tons of cargo, loading Dec. 22 Libya, discharging Spain, at W/S 90 while Petroplus for same cargo quantity, loading Dec. 26, discharging Med., has fixed M/T Kalymnos at W/S 97.5. -On the Continent, Vitol, for 80,000 tons of cargo, loading Dec. 26 UK, discharging Portugal, has fixed M/T Molda at W/S 125 while CSSA, for same cargo quantity, loading Dec. 29 N. Sea, discharging UKC, has fixed M/T Nordic Svenita at W/S 105. -In Caribs, Exxon has fixed M/T Crude Progress for 70,000 tons of cargo, loading Dec. 28, discharging US Gulf, at W/S 162.5. -In W. Africa, Koch has fixed Alliance tonnage for 130,000 tons of cargo, loading Jan. 5, discharging US Gulf, at W/S 67.5. DRY CARGO There is not much of a difference in chartering activity from last week. The Caper market is described as marginally quieter while on Panamax, a number of charterers are trying to increase their stems from Handy to Panamax size, taking advantage of the low rates. -Far East charterers also are showing interest in short T/C periods, trying to speculate on cheap tonnage. -Handy/Handymax with December dates in S. Atlantic surprisingly in a very tight position. -On Panamax in Far East, Mol Navix has fixed M/V Wadi Alkarnak, 64,214 dwt, built 1997, delivery Japan Dec. 24-25, trip via Australia, redelivery Japan, at USD 5,250 daily and USD 80,000 ballast bonus. -In Atlantic, Samsun has fixed M/V Macanudo, 69,703 dwt, built 1989, delivery US Gulf Dec. 26-27, redelivery Far East, at USD 6,800 daily and USD 95,000 ballast bonus. -On smaller sizes, Seaboard has fixed M/V Nordic Confidence, 28,652 dwt, built 1984, delivery Argentina Dec. 25-30, redelivery west coast of South America, at USD 8,000 daily.