ECONOMY

Shipping Report

TANKERS The Med. market is sneaking down due to lesser inquiry. Cargoes of 80,000 tons are fixed at W/S 370, while the same-sized vessels in the N. Sea are near W/S 260-270. – The 100,000 tons of cargoes are negotiated out of Baltic at around W/S 300, with Lukoil having fixed M/T «Petrovsk,» loading Dec. 10, discharging UKC at W/S 320. – In Caribs, 70,000 tons of cargo liftings are fixed at W/S 400-410, while the 50,000-ton cargoes are fixed above W/S 400. – Premcor for 70,000 tons of cargo, loading Dec. 5, discharging USAC, has fixed M/T «Genmar Ajax» at W/S 400, while on smaller sizes, Valero for 50,000 tons of cargo, loading end-Nov., discharging US Gulf has fixed Heidmar tonnage at W/S 440. – Suezmax rates in W. Africa are drifting in the W/S 370 level, while on VLCCs, rates with destination Gulf are fixed at W/S 300 while those with destination China at W/S 230. – N. Sea rates are following W. Africa’s, with Med. still negotiated at W/S 380. – In the Med., Tupras for 80,000 tons of cargo, loading Dec. 5, discharging Turkey, has fixed M/T «Paula Maersk» at W/S 360. – In the Cont., Stasco for 80,000 tons of cargo, loading Nov. 28, discharging UKC, has fixed M/T «Isabella» at W/S 260, while on Suezmax, Sun has fixed M/T «Knock Dun» for 135,000 tons of cargo, loading Dec. 13, discharging USAC at W/S 365. – In the Arabian Gulf and on VLCCs, Koch for 280,000 tons of cargo, loading Dec. 20, discharging US Gulf, has fixed M/T «Universal Brave» at W/S 226.5. DRY CARGO Capesize rates remain very strong, especially for period business. – Sinochart has fixed M/V «Lowlands Beilun,» 170,162 dwt, built 1999, delivery Dec. 10-15 China, for 5-7 months trading at USD 80,000 daily. – In the same area, NYK has fixed M/V «China Steel Responsibility,» 175,775 dwt, built 2003, delivery Japan Dec. 11-15, for an Australian round-voyage at USD 70,500 daily. – Panamax rates remain high, with owners increasing their ideas in the Atlantic, while in the Far East, market is driven largely by T/C period requirements. – On Handymaxes, rates are still strong from the US Gulf, while details of concluded business are obtained only with great difficulty. – On Panamaxes in Far East, Steel Express has fixed M/V «Te Ho,» 77,000 dwt, built 2004, delivery beg. Dec. Taiwan, trip via China, at USD 45,000 daily. – In Atlantic, Bunge has fixed M/V «Lake Sequoia,» 75,955 dwt, built 2001, delivery UK Nov. 27-30, trip via US Gulf, redelivery Spain, at USD 42,000 daily. – On smaller sizes, IVS has fixed M/V «Athloforos,» 25,410 dwt, built 1984, delivery end-Nov. Aden, trip via S. Africa, redelivery Med., at USD 16,500 daily.