ECONOMY

Shipping Report

A quiet start to the week, with Aframax in the Med. at W/S 375. – In the North Sea too, fresh inquiry is limited, with Ursa having to pay out of Baltic, and for a cargo of 100,000 tons, M/T «Overseas JC» mid-December, discharging UKC W/S 305. – In Caribs, Navion, for 70,000 tons of cargo, loading November 30 discharging US Gulf, has fixed M/T «St. Helen» at W/S 395. – On smaller sizes, Valero has fixed M/T «Chemtras Star» for 50,000 tons of cargo, loading November 29, discharging US Gulf, at W/S 445, while Navion for same cargo, loading November 29 Colombia with same destination, has fixed M/T «Hesnes» at W/S 395. – Suezmax rates have drifted slightly in the area, with Sun paying W/S 375 for the usual run, i.e. W/S 15 points less than the last done. – North Sea rates following West Africa, with Sun having fixed M/T «Desh Shakti» for 135,000 tons of cargo, loading December 14, discharging USAC at W/S 365. – In the Med., Petroval for 143,000 tons of cargo, loading Dec. 12 discharging Med. has fixed M/T «Seagrace» at W/S 390, while Trafigura has fixed M/T «Marina M» for 140,000 tons of cargo, loading December 10 with same destination, at W/S 395. – On VLCCS in Arabian Gulf, Tupras for 290,000 tons of cargo, loading December 15, discharging Red Sea has fixed M/T «Al Salheia» at W/S 345. DRY CARGO – A slower day for details of fixed business, but still a very strong market in both areas. – In the East, M/V «Eridge» 122,792 dwt, built 1993, was fixed at USD 70,000 daily delivery China for Australian round-voyage. – The 149,735 dwt built «Anella» went to Pacific Bulk from China for a Goa round-voyage at USD 75,000 daily for the first 40 days and discounted to USD 50,000 daily for the balance for a maximum 55 days. – Strong market for Panamaxes too, with rates hovering around USD 45,000 daily for round-voyages. – Cobelfret has fixed M/V «Navios Orbiter,» 76,602 dwt, built 2004, delivery end-November – beg. December Malaysia for three legs at USD 45,000 daily, while Sanko has fixed M/V «Torm Herdis,» 69,618 dwt, built 1992, delivery Pakistan Dec. 11-13, trip via W. Coast India, redelivery Japan at USD. 43,000 daily. – In the Atlantic, Sinochart has fixed M/V «Pacific Eagle» 75,000 dwt, built 2004, delivery Italy end-December for two years’ trading at USD 28,750 daily. – On smaller sizes, Euromar has fixed M/V «Racer,» 43,062 dwt, built 1986, delivery Spain end-November, trip via East Coast S. America, redelivery France, at USD 29,000 daily. – On coal cargoes, Posco for 140,000 tons, loading East Coast Canada end-December, discharging Korea, has fixed Samsun tonnage at USD 23.24 per ton with 50,000 tons load and 35,000 tons discharge.