ECONOMY

Shipping Report

TANKERS The VLCC market continues to be firm with a number of fixtures mostly out of the Arabian Gulf. – SSS with destination Japan has fixed M/T «Venture Spirit» for 260,000 tons of cargo, loading Dec. 12, at W/S 315, while Marathon has fixed M/T «Sunlight Jewel» for 275,000 tons of cargo, loading Dec. 15, discharging US Gulf, at W/S 240. – SPC has fixed M/T «Suva» for 270,000 tons of cargo, loading Dec. 13, discharging Singapore, at W/S 345. – The Suezmax market is also strong, with W. Africa tonnage very thin. Rates have been improved to W/S 350 for transatlantic voyages. – VLCCs also out of the same area have hit a new high at W/S 307.5 for transatlantic cargoes. – N. Sea rates are following those of W. Africa, while in the Med. latest fixtures are negotiated at W/S 370. – Aframaxes are stable in the Med. as well as in the N. Sea. – The 80,000-ton cargoes in the Med. are being negotiated at W/S 380, and in the N. Sea at W/S 280-285. However BHP with prompt loading dates and replacing a delaying vessel has fixed CSSA tonnage at W/S 325. – Lukoil for 92,000 tons of cargo, loading Nov. 14, discharging Spain, has fixed Lundqvist tonnage at W/S 305. – In Caribs, Hess has fixed M/T «Agrari» for 50,000 tons of cargo, loading Nov. 18, discharging USAC, at W/S 400, while Chevtex for same cargo, loading Nov. 17, discharging W. Coast America, has fixed M/T «Inca» at W/S 450. DRY CARGO Capesize rates remain strong, with M/V «Alpha Millenium,» 170,415 dwt, built 2000, to be on subs with Japanese charterers for an Australian round voyage at USD 82,500 daily. This level is very close to the high of USD 85,000 daily when a Capesize vessel was fixed earlier in the year. – Transfield in the same area has fixed M/V «Faneromeni,» 149,000 dwt, built 1989, delivery end-Dec. China, for an Australian round voyage at USD 72,000 daily, while same charterers have fixed M/V «Sanko Oasis,» 161,192 dwt, built 1995, for 11-13 months’ trading at USD 53,000 daily. – Panamax rates are generally firm in the Atlantic, but the market lacks real impetus. – In the Far East, market appears active with a number of fixtures. – Kline has fixed M/V «Clipper Emperor,» 74,381 dwt, built 2001, delivery Nov. 19-20 China, for 3-5 months’ trading at USD 39,000 daily. – In the Atlantic, Pan Ocean has fixed M/V «Bahia,» 76,600 dwt, built 2004, delivery Baltic, redelivery Far East, at USD 45,000 daily. – On smaller sizes, Jebsesn has fixed M/V «Cape B,» 37,991 dwt, built 1980, delivery S. Africa Nov. 25-30, redelivery UKC, at USD 17,500 daily and USD 200,000 ballast bonus.