ECONOMY

Shipping Report

TANKERS Mediterranean Aframax market still at W/S 380 while Suezmaxes have moved upward to W/S 400-430 as per Unocal fixture. – West Africa rates also jumped to W/S 400 as per Navion fixture of M/T «Venetia,» loading December 15. – The North Sea market has a lot of activity mainly out of Baltic. Cargoes of 100,000 tons are fixed at W/S 315 with destination Cont. – Caribs are at W/S 420 for 70,000-ton cargo liftings. – In the Mediterranean, BP for 80,000 tons of cargo, loading November 21 Algeria, discharging UKC-Med., has fixed M/T «Mare d’Orico» at W/S 380. – In the Cont., Petroval for 100,000 tons of cargo, loading December 2 Baltic, discharging UKC, has fixed M/T «Nordic Svenita» at W/S 315. – In Caribs, Conoco for 70,000 tons of cargo, loading December 4, discharging US Gulf, has fixed Teekay tonnage at W/S 420. – In West Africa, Petrogal has fixed M/T «Monte Toledo» for 130,000 tons of cargo, loading December 14, discharging Portugal, at W/S 365, while CSSA for same cargo, loading December 15, discharging Mediterranean, has fixed M/T «Adair» at W/S 400. – In Arabian Gulf, Formosa for 260,000 tons of cargo, loading November 19, discharging Taiwan, has fixed M/T «Yiomaral» at W/S 332.5, while ExxonMobil for 280,000 tons of cargo, loading December 21, discharging US Gulf, has fixed M/T «La Esperanza» at W/S 230. DRY CARGO Panamax market in the East is very strong, outperforming the Atlantic but in late trade very big rates were paid for trips to the East, making charterers split Capesize cargoes. – On T/C periods and for 12 months, Baumarine has fixed M/V «Torm Tina,» 75,966 dwt, built 2001, delivery December 1-7 Japan, at USD 35,000 daily. – On Panamax in Far East, HMM has fixed M/V «Guinomar Baraka,» 74,107 dwt, built 2001, delivery Japan mid-November, redelivery Far East, at USD 43,500 daily. – In Atlantic, Cargill has fixed M/V «Hispania Graeca,» 74,133 dwt, built 2001, delivery Passero end-November, trip via East Coast South America, redelivery UKC-Mediterranean, at USD 40,000 daily. – On smaller sizes, Keymar has fixed M/V «Sea Conqueror,» 37,662 dwt, built 1984, delivery UKC November 20-30, for 3-5 months’ trading at USD 26,000 daily. – On ore cargoes, Kleimar for 150,000 tons of cargo, loading 15-30 December Brazil, discharging China, has fixed M/V «Nike» at USD 42.20 per ton with two days’ load and 30,000 tons discharge.