ECONOMY

Shipping Report

TANKERS Aframax market in the Mediterranean is steady with rates rising from W/S 300 to W/S 330, depending on dates and loading area. – In the North Sea, a number of fixtures with rates ranging from W/S 240 to W/S 270, while for 100,000-ton cargoes out of Baltic, rates are around W/S 350. – Caribs stable, with the 70,000-ton cargo liftings at W/S 350, while on smaller sizes, BP has fixed M/T «Rubymar» for 50,000 tons of cargo, loading December 16, discharging US Gulf, at W/S 425. – Suezmax firmer out of West Africa, with rates near to W/S 200 for 130,000 tons of cargo, with destination USAC, while Vitol has fixed M/T «Da Ming Hu,» loading January 4, discharging UKC, at W/S 185. – In the Mediterranean and on Aframaxes, Tupras for 80,000 tons of cargo, loading December 18, discharging Turkey, has fixed M/T «Sereno 2» at W/S 295. – In the Cont., CSSA for 80,000 tons of cargo, loading December 18, discharging UKC, has fixed M/T «Sakhalin Isld» at W/S 175. – In Caribs, Premcor has fixed M/T «Avor» for 70,000 tons of cargo, loading January 1, discharging US Gulf, at W/S 350. – In West Africa, Sun has fixed M/T «Cosmic» for 130,000 tons of cargo, loading January 10, discharging USAC, at W/S 192.5. DRY CARGO Capesize rates continue to be slight for tonnage in the East, as a number of early ships are trying to find employment before the holidays. – Market for cargoes with loading dates after January 10 looks more encouraging. – Panamax rates have eased significantly also in both areas. – The BPI has dropped fairly dramatically but rates generally for lmes are still in the high USD 30,000 to low USD 40,000 daily range, whether in the Atlantic or Pacific. – The Handy/Handymax market in the US Gulf seems to be holding fairly steady, despite other sectors of the dry market which are easing significantly. – On Panamax in Far East, NCS has fixed M/V «Toro,» 73,000 dwt, built 1995, delivery China December 24-25, for 4-6 months’ trading at USD 42,500 daily. – In Atlantic, Cargill has fixed M/V «United Seas,» 74,577 dwt, built 1998, delivery US Gulf end of December – beginning of January, trip via Egypt, redelivery Passero, at USD 39,000 daily and USD 600,000 ballast bonus. – On smaller sizes, Ed&F man has fixed M/V «Ulysses 2,» 41,536 dwt, built 1982, delivery Mediterranean December 18-22, for an Atlantic round-trip, redelivery UKC-Mediterranean, at USD 28,000 daily.