ECONOMY

Shipping Report

TANKERS Mediterranean Aframax market is expected to rise further due to a number of cargoes to be fixed either from the Black Sea or Libya/Egypt area. Rates presently are holding around W/S 335 for cross-Mediterranean cargoes and at W/S 360 out of the Black Sea. – North Sea rates are improving also and expected to improve further for cargoes with end-Dec. loading dates. – The latest 80,000-ton cross-UK cargoes are being fixed at W/S 160, while the 80,000-ton cargoes out of the Baltic are being fixed at W/S 330. – Caribs steady with the 70,000-ton cargo liftings at W/S 350. – West Africa Suezmax rates are settling in the area of W/S 180, while in the Mediterranean, activity remains limited, with rates around W/S 190-195. – In the Mediterranean and on Aframaxes, KPC for 80,000 tons of cargo, loading Dec. 28 Libya, discharging Italy, has fixed M/T «Gaetano d’Alesio» at W/S 250. – In the North Sea, Navion has fixed M/T «Nordic Yukon» for 80,000 tons of cargo, loading Dec. 30 North Sea, discharging UKC, at W/S 160. – In Caribs, Exxonmobil for 70,000 tons of cargo, loading Dec. 19, discharging USAC – US Gulf, has fixed M/T «Four Bay» at W/S 345. – In West Africa, AETC has fixed M/T «Genmar Horn» for 130,000 tons of cargo, loading Dec. 28, discharging Italy, at W/S 200. – In Arabian Gulf, China Oil for 130,000 tons of cargo, loading Jan. 15, discharging China, has fixed M/T «New Fortuner at W/S 270. DRY CARGO Capesize market in Far East appears to be in free fall. An NKK type was allegedly bid at USD 70,000 daily for a round-trip voyage over USD 20,000 daily below the current BCI route. – The picture is similar is the Atlantic. – An unsteady market for Panamaxes, with rates falling in both the Atlantic and the Pacific, while the list of early tonnage is getting longer. – In Far East, SMS has fixed M/V «Spring Seletar,» 73,461 dwt, built 2001, delivery China end-Dec., redelivery Taiwan, at USD 36,500 daily. – In Atlantic, Augustea has fixed M/V «Miltiadis II,» 72,493 dwt, built 1999, delivery Spain end-Dec., for two legs, redelivery Far East, at USD 44,000 daily. – On smaller sizes, NYK has fixed M/V «Athinoula,» 42,842 dwt, built 1985, delivery US Gulf end-Dec., redelivery Far East, at USD 44,000 daily. – On coal cargoes, Ilva for 120,000 tons of cargo, loading Jan. 1-15 Australia, discharging Italy, has fixed M/V «Waterford» at USD 40.50 per ton with 40,000-ton load and 30,000 tons discharge.