ECONOMY

Shipping Report

TANKERS Steady market rates in the Med., with Aframaxes around W/S 330, except for replacement vessels, which are being negotiated around W/S 350. – Same picture also in the N. Sea, with a number of Primorsk cargoes. Sibneft has fixed M/T «Sakhalin Island» for 100,000 tons of cargo, loading Jan. 8, discharging UKC, at W/S 330. – In Caribs, Aframaxes are still being negotiated around W/S 350, while on smaller sizes, Valero has fixed Heidmar tonnage for 50,000 tons of cargo, loading Jan. 1 East Coast, Mexico, discharging US Gulf at W/S 422.5. – A small improvement in Suezmaxes out of W. Africa, with Sun having fixed M/T «Olympic Faith» for 130,000 tons of cargo, loading Jan. 12, discharging USAC at W/S 202.5, while BP has fixed M/T «Venetia,» loading Jan. 20, discharging US Gulf, at same levels. – In the Med., CSSA for 135,000 tons of cargo, loading Dec. 30 Libya, discharging UKC-Med., has fixed M/T «Minerva Nounou» at W/S 200, while Chevtex has fixed M/T «Spetses,» loading Black Sea Jan. 10 with same destination, at W/S 220. – On VLCCs out of W. Africa, China Oil has fixed M/T «La Prudencia» for 260,000 tons of cargo, loading Jan. 15, discharging China, at W/S 182.5, while BP for same cargo, loading Jan. 29, discharging US Gulf, has fixed M/T «Eagle Vermont» at W/S 190. – In Arabian Gulf, Vela has fixed M/T «Soro» for 280,000 tons of cargo, loading Jan. 7, discharging US Gulf at W/S 165. DRY CARGO Another quiet day with a number of spot dates. – Transfield in the East has fixed M/V «Johnny K,» 165,289 dwt, built 1994, delivery China Dec. 25-30 for an Australian round-trip voyage at USD 57,000 daily. – Uninspiring levels for Panamaxes too in both areas. – In the Atlantic, Cargill has fixed M/V «Raffaele Iuliano,» 75,229 dwt, built 1995, delivery S. America, redelivery UKC at USD 37,000 daily and USD 725,000 ballast bonus. – In Far East and on short T/C periods, Damato has fixed M/V «Joyous Age,» 69,271 dwt, built 1994, delivery end Jan. – beg. Feb. China for 3-5 months’ trading at USD 38,500 daily. – In Atlantic, Cargill has fixed M/V «Magic Wand,» 68,676 dwt, built 1988, delivery end Dec. Italy for two-leg trip via Black Sea and US Gulf, redelivery Far East at USD 37,500 daily. – On smaller sizes, WBC has fixed M/V «Panormos,» 37,636 dwt, built 1984, delivery end Dec. Latvia trip via Baltic, redelivery US Gulf at USD 19,250 daily.