ECONOMY

Shipping Report

TANKERS The Mediterranean market has traded as low as W/S 130, with charterers freely quoting their cargoes up to December 24. Rates are expected to move upward. – In the Cont., rates for Aframaxes remain around W/S 235, but those for cross cargoes are expecting a correction following the Mediterranean drop. – Caribs stable at W/S 385-390 for the 70,000-ton cargo liftings. – Suezmax rates steady in West Africa and at W/S 340-350 for transatlantic voyages, but still require an injection of fresh inquiry to maintain current levels. – In the Mediterranean, BP for 135,000 tons of cargo, loading December 20, discharging Mediterranean, has fixed M/T «Seaprince» at W/S 275. – North Sea rates expected to soften in line with Mediterranean/West Africa market. – Arabian Gulf remains very firm, with rates in the mid-W/S 400s with destination East. We may see Mediterranean tonnage ballasting for committing on these levels. – In the Cont., CSSA for 80,000 tons of cargo, loading December 6 UK, discharging UKC, has fixed M/T «Hildegaard» at W/S 235. – In Caribs, Exxonmobil for 70,000 tons of cargo, loading December 8 East Coast Mexico, discharging US Gulf, has fixed M/T «British Holly» at W/S 395. – In Arabian Gulf, Stasco for 270,000 tons of cargo, loading December 27, discharging Far East, has fixed M/T «Tantramar» at W/S 320. DRY CARGO Another day of strong Capesize rates. Period rates are also moving upward, with ships fixing for 1-2 and 5 years. – Kline for 2 years’ trading has fixed M/V «Vitorius,» 171,480 dwt, built 2004, delivery December 10-20 Japan, at USD 59,000 daily, while Swiss Marine has fixed M/V «Star Europe,» 170,698 dwt, built 1986, delivery China January 10, for 1 year’s trading at USD 60,000 daily. – Backhaul rates also are stronger, with Corus having fixed M/V «Channel Alliance,» 171,978 dwt, built 1996, delivery UKC-Mediterranean, for an Australian round-trip voyage at USD 90,000 daily. – Panamax rates in the East remain strong, with latest fixtures higher than those in the Atlantic. – Daeyang has fixed M/V «Samjohn Amity,» 74,744 dwt, built 1998, delivery December 1-4 Sweden, trip via Latvia, redelivery China, for 55-65 days’ trading at USD 55,000 daily. – In the Far East, Hanjin has fixed M/V «Tian Xhu Feng,» 74,200 dwt, built 2001, delivery China December 15-17, trip via Indonesia, redelivery Japan, at USD 51,000 daily. – On smaller sizes, Bulkhandling has fixed M/V «Sealady,» 42,183 dwt, built 1995, delivery Indonesia December 18-20, trip via Southeast Asia, redelivery India, at USD 38,000 daily.