ECONOMY

Shipping Report

TANKERS With tonnage list long enough in the Mediterranean for early December positions, CSSA had no problem fixing Iranian tonnage for 80,000 tons, loading Libya December 7-9, at W/S 180. – North Sea is also softening, with 80,000-ton cargoes being fixed at W/S 235, while charterers out of Baltic are now talking cargoes with loading dates later than December 15 – Caribs seem steady, with the latest fixtures for 70,000-ton cargo liftings at W/S 400. – Suezmaxes are also being negotiated lower. Sun out of West Africa is negotiating around W/S 350 for USAC destination, while in the Mediterranean, rates have fallen to low W/S 300s as a result of built-up tonnage. – In the Mediterranean, Lukoil for 80,000 tons of cargo, loading Black Sea, discharging USAC, has fixed M/T «Sea Queen» at W/S 282.5. – In the Cont., BP for 80,000 tons of cargo, loading December 10 North Sea, discharging UKC, has fixed M/T «Ph. Alpha» at W/S 252.5. – In Caribs, PDVN has fixed M/T «Four Bay» for 70,000 tons of cargo, loading December 2, for round-trip voyage at W/S 405. – In West Africa, BP has fixed M/T «Yannis P» for 130,000 tons of cargo, loading December 21, discharging UKC-Mediterranean, at W/S 325. – In Arabian Gulf, Kangqi for 255,000 tons of cargo, loading December 20, discharging China, has fixed M/T «El Greco» at W/S 307.5. DRY CARGO Capesize rates remain high, with the BCI index hitting a new record high with the four-time charter average at USD 96,571 daily, up from the USD 95,982 recorded on January 16 this year. – Owner with an Atlantic position vessel has declined USD 60,000 daily for a two-year T/C period. – In the East too market very firm, with Noble having fixed M/V «Grafton,» 133,201 dwt, built 1996, delivery December 12 China, for an Australian round-trip voyage at USD 80,000 daily. – Panamax owners also are very bullish. Round-trip voyages are being negotiated in the low USD 50,000 daily, while Atlantic / Far East at around USD 55,000 daily. – In Far East, Lalemant has fixed M/V «Medi Rotterdam,» 75,200 dwt, built 2002, delivery beg. December Japan, trip via Australia, redelivery UKC, at USD 50,000 daily. – In Atlantic, Daeyang has fixed M/V «Raffaele Iuliano,» 75,473 dwt, built 1995, delivery December 6-15 Denmark, for 11-13 months’ trading at USD 41,000 daily. – On smaller sizes, Korea Line has fixed M/V «Alam Mesra,» 46,464 dwt, built 2000, delivery end December South Korea, for 24-26 months’ trading at USD 23,000 daily.