ECONOMY

Shipping Report

TANKERS Quiet conditions for Aframaxes in all areas. – In the Med., 80,000-ton cargoes are being fixed at W/S 200, while at W/S 170 in the North Sea. – Caribs also appear to be weakening and, despite the number of fixtures, rates for 70,000-ton cargo liftings are at around W/S 350. – West Africa with little Suezmax activity. Rates are drifting and there could be further slippage as the tonnage is chasing few available stems. – VLCCs are also softening in the area, with third-decade tonnage remaining ample. – North Sea rates are also weakening, with Navion having fixed M/T «Knock Dun» for 130,000 tons of cargo, loading December 17 North Sea, discharging US Gulf, at W/S 300, while Shell for 135,000 tons of cargo, loading December 23, discharging USAC, has fixed M/T «Cap. Georges» at W/S 300. – In the Med., rates trying to find support at W/S 250. Lukoil has fixed M/T «Tromos Trust» for 135,000 tons of cargo, loading December 19, discharging UKC-Med., at W/S 230. – On VLCCs, IOC for 270,000 tons of cargo, loading December 30, discharging India, has fixed M/T «Yiomaral» at W/S 340. – In the Med. and on Aframaxes, Janorc for 80,000 tons of cargo, loading December 24 Black Sea, discharging Med., has fixed M/T «Stavanger Bay» at W/S 180. – In the North Sea, Exxonmobil has fixed Lundqvist tonnage for 80,000 tons of cargo, loading December 17, discharging UKC, at W/S 165. – In Caribs, BP for 70,000 tons of cargo, loading December 19, discharging US Gulf, has fixed M/T «Regent» at W/S 340. DRY CARGO Another day with a very strong market, especially on Capers. – Cosco has fixed M/V «Huang Shan,» 175,775 dwt, built 2003, delivery December 28-31 UKC, trip via Brazil, redelivery China, at USD 120,000 daily, while in Far East, Pacificbulk has fixed M/V «Formosabulk Duke,» 170,085 dwt, built 2001, delivery China end-December, trip via Australia, at USD 100,000 daily. – A slow start for Panamaxes but with Capesize rates so strong, most Panamax owners remain confident that rates will hold at current levels. – In Far East, SSE has fixed M/V «Great Luck,» 71,300 dwt, built 1998, delivery Pakistan December 13-15, trip via South Africa, redelivery UKC, at USD 55,000 daily. – In Atlantic, Mosk has fixed M/V «Nordmosel,» 75,257 dwt, built 2001, delivery France December 7-10, trip via USAC, redelivery Japan, at USD 53,500 daily. – On smaller sizes, Dreyfus has fixed M/V «Amanda C,» 41,373 dwt, built 1984, delivery West Africa mid-December, trip via Argentina, redelivery Denmark, at USD 31,000 daily.