ECONOMY

Shipping Report

TANKERS Weaker conditions in the Mediterranean, and Cont. rates are dropping and expected to drop further. – In the Mediterranean, the Aframaxes from W/S 320 are being negotiated at W/S 260, while in the North Sea CSSA for 80,000 tons of cargo, loading November 30 North Sea, discharging UKC, has fixed M/T «Pandelis» at W/S 250. – The picture is similar for Suezmaxes in all areas. – In the Mediterranean and on Aframaxes, Eni for 80,000 tons of cargo, loading December 8 Libya, discharging Mediterranean, has fixed M/T «Sanko Bright» at W/S 340. – In the Cont., J&S has fixed M/T «Mastera» for 100,000 tons of cargo, loading December 14, discharging UKC, at W/S 302.5. – In Caribs, Valero has fixed M/T «Genmar Minotaur» for 70,000 tons of cargo, loading December 22, discharging US Gulf, at W/S 400. – In West Africa, Addax has fixed M/T «Catherine Knutsen» for 130,000 tons of cargo, loading December 28, discharging UKC-Mediterranean, at W/S 375. – In Arabian Gulf, Zhenrong has fixed M/T «Astro Chorus» for 265,000 tons of cargo, loading December 21, discharging China, at W/S 330. DRY CARGO Capesize rates remain strong in the East, while in Atlantic, the trading seems lower. – M/V «Channel Alliance,» 171,978 dwt, built 1996, has been fixed for an Australian round-trip voyage at USD 100,000 daily with owners declining the offer of USD 105,000 daily. The ship now is on subjects at the aforesaid levels with a Japanese charterer. – The Panamax market is steady, with the Biffex index last Friday moving upward by 141 points, totaling 5,882, while the Capers index has gained 204 points, totaling 8,096. – On Panamaxes in Far East, Kline has fixed M/V «Cmb Eline,» 76,500 dwt, built 2004, delivery December 5-7, redelivery Japan, at USD 53,900 daily. – In Atlantic, Bunge has fixed M/V «Metrostar,» 76,000 dwt, built 2004, delivery Passero end-November, trip via US Gulf, redelivery UKC – Mediterranean, at USD 48,000 daily. – On smaller sizes, Sea Quest has fixed M/V «Yasa Aisen,» 52,434 dwt, built 2000, delivery end-November West Coast India, redelivery China at USD 34,500 daily.