ECONOMY

Shipping Report

TANKERS Another quiet day, with the Med. market appearing steady on Aframaxes, with fixtures for cross Med. at W/S 190 and ex-Black Sea at W/S 250. – A similar picture prevails in the Cont., while in Caribs and despite the eight known fixtures the rates are holding at W/S 340-350 for the 70,000-ton cargo liftings. – Suezmax rates also are drifting lower, due to an absence of fresh inquiry. The market is having difficulties in finding a floor. A later known fixture is that of Newton and M/T «African Ruby,» loading Dec. 25, discharging US Gulf, at W/S 275. – VLCCs out of the same area are at W/S 270-280, while out of Arabian Gulf rates are drifting at W/S 340 with destination India. – In the Med., Clearlake for 80,000 tons of cargo, loading Dec. 24 Novorossisk, discharging Med., has fixed M/T «Apanemo» at W/S 250. – On Suezmax, Tamoil for 130,000 tons of cargo, loading Dec. 17 Libya, discharging UKC, has fixed M/T «Iran Saveh» at W/S 255. – In the N. Sea, Europet for 100,000 tons of cargo, loading Dec. 13 Baltic, discharging UKC, has fixed M/T «Hanne Knutsen» at W/S 290. – In Caribs, Valero for 70,000 tons of cargo, loading Dec. 10 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Agamemnon» at W/S 355. – In W. Africa, Repsol has fixed M/T «Aldawha» for 130,000 tons of cargo, loading Dec. 30, discharging Spain, at W/S 285. – In Arabian Gulf, Vela for 285,000 tons of cargo, loading Jan. 1, discharging US Gulf, has fixed M/T «Front Commodore» at W/S 210. DRY CARGO A very quiet day, with some brokers saying that Capers rates have topped out. – A very sluggish day for Panamaxes too. Very little business has been quoted and the market has eased despite a still very strong Capesize market. – On Capers, NSS has fixed M/V «Unique Brilliance,» 176,347 dwt, built 1996, delivery Korea Dec. 9-11, trip via S. Africa, redelivery Japan, at USD 94,000 daily. – On Panamax in the Far East, Bottiglieri has fixed M/V «North Friendship,» 74,732 dwt, built 1999, delivery Dec. 20-23 Japan, for 11-13 months’ trading at 40,000 daily, while Cargill has fixed M/V «Ioannis Zafirakis,» 73,500 dwt, built 2004, delivery Indonesia Dec. 20, trip via Australia, redelivery China, at USD 54,000 daily. – In the Atlantic, Intermare has fixed M/V «SD Glory,» 68,634 dwt, built 1997, delivery mid-Dec. Passero, trip via Black Sea, redelivery Muscat, at USD 45,000 daily. – On smaller sizes, WBC has fixed M/V «Thor Wind,» 39,042 dwt, built 1998, delivery Turkey mid-Dec., trip via Black Sea, redelivery US Gulf, at USD 23,000 daily. – On ore cargoes, TKS for 140,000 tons of cargo, loading Sept. Isles (Canada) Jan. 1-10, discharging Rotterdam, has fixed M/V «Papa» at USD 32.00 per ton with 6 days all purposes.