ECONOMY

Shipping Report

TANKERS Market remains firm, especially on VLCCs and Suezmaxes. – Aframax market in the Med. still quiet, with the 80,000-ton cargoes being negotiated around W/S 380. – Rates are stable also in the N. Sea, at W/S 275-280 for the same-sized round-trip cargoes. – Caribs remain quiet, with 70,000-ton cargo liftings being fixed around W/S 400, while 50,000-ton cargoes are being fixed above W/S 450. – W. Africa Suezmax rates firm at about W/S 360 with destination the States. Rates expected to improve further as it appears a good amount of oil still needs to be transported. – N. Sea rates follow the W. Africa direction while charterers in the Med. are trying to hold rates close to W/S 370. – In Arabian Gulf, rates are also firm with Engen having fixed M/T «Gateway» for 130,000 tons of cargo, loading Dec. 8, discharging S. Africa, at W/S 435, while TPI for 135,000 tons of cargo, loading Dec. 6, discharging Thailand, has fixed M/T «Front Spirit» at W/S 400. – In the Med., Eni for 80,000 tons of cargo, loading Nov. 18 Libya, discharging Med., has fixed M/T «Torm Gudrun» at W/S 390, while on Suezmaxes, Unocal for 135,000 tons of cargo, loading Dec. 7, discharging UKC-Med., has fixed M/T «Lucky Sailor» at W/S 350. – In the Cont., Exxonmobil for 80,000 tons of cargo, loading Nov. 24, discharging UKC, has fixed M/T «Hanne Knutsen» at W/S 275, while Ursa for 100,000 tons of cargo, loading Dec. 4, discharging UKC, has fixed M/T «Overseas J.C.» at W/S 317.5. – In Caribs, Stusco for 70,000 tons of cargo, loading Nov. 25 East Coast Mexico, discharging US Gulf, has fixed M/T «Regent» at W/S 410. – In W. Africa, Conoco has fixed M/T «Glen Maye» for 130,000 tons of cargo, loading Nov. 28, discharging US Gulf, at W/S 355. DRY CARGO Little fresh inquiry reported, with market remaining strong on Capers in both areas. – Panamax market also strong, with transatlantic rates hovering around USD 40,000 daily. – In the East, Cargill Hass has fixed M/V «Athina Zafirakis,» 74,204 dwt, built 2002, delivery China, for Nopac round-trip voyage at USD 40,000 daily, while Armada has fixed M/V «Royal Breeze,» 76,679 dwt, built 2001, delivery Japan Nov. 18-20, trip via St Lawrence, redelivery Germany, at USD 39,000 daily. – In Atlantic, Bunge has fixed M/V «De Hua Hai,» 74,500 dwt, built 2001, delivery end-Nov. UK, trip via USAC / US Gulf, redelivery UKC-Med., at USD 39,500 daily. – On smaller sizes, Oldendorff has fixed M/V «Majestic,» 42,838 dwt, built 1985, delivery Nov. 18-25 UKC, for 5-7 months’ trading at USD 26,250 daily. – On coal cargoes, Taipower has fixed Etit tonnage for 63,000 tons of cargo, loading China Dec. 8-21, discharging Taiwan, at USD 25.19 per ton with 28,000 tons SC discharging.