ECONOMY

Shipping Report

-Rates on Aframax in the Med. at W/S 105, while in Cont. at W/S 160. – Quieter conditions for Suezmaxes in the Med. and W. Africa at W/S 80 and W/S 67.5 respectively. – In the Med., BP for 80,000 tons of cargo loading Dec. 30 Algeria, discharging UKC, has fixed M/T Bering Sea at W/S 105, while Karran for same cargo quantity loading Dec. 25 Russia with same destination has fixed M/T Star 2 at W/S 85. – In the Continent, Agip for 80,000 tons of cargo loading Dec. 29 U.K., discharging UK Cont., has fixed M/T Sea Princess at W/S 141 – W/S 120 respectively. -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. DRY CARGO Limited inquiry persists without changes. Demand still low due to the coming holidays. – Rates for Handy/Handymaxes are said to be getting weaker in the US Gulf. – From South America, Chilean charterers have been re-entering the market for 21,000 TS grains from Plate to Peru. – On Capers, Swiss Marine has fixed M/V Stellar Navigator 172,932 dwt, built 1999, delivery Japan Dec. 21-22 trip via Richards Bay (S. Africa), redelivery Continent at USD 7,800 daily. -On Panamax in Atlantic, PCL has fixed M/V Cosmic Fortuner 74,043 dwt, built 1998, delivery Gibraltar trip via South Africa, redelivery Skaw-Pasero at USD 5,500 daily. – On smaller sizes, Pan Ocean has fixed M/V Golden Rose 47,183 dwt, built 1998, delivery Turkey end Dec. trip via Black Sea, redelivery Far East at USD 9,750 daily. – On grain cargoes, Cargill FOR 60,000 tons of cargo loading Jan. 3-7 US Gulf, discharging Continent, has fixed at USD 8.60 per ton with 10 days all purposes.