ECONOMY

Shipping Report

TANKERS Quieter conditions in the Med. for Aframaxes, with at least four-five VSLS in prompt position. Rates are hovering around W/S 290. – The picture is similar in the N. Sea while market has not been tested in the recent days. – In Caribs, Chevtex, for 70,000 tons of cargo, loading January 9 East Coast Mexico, discharging US Gulf, has fixed M/T «Overseas Shirley» at W/S 357.5 while Stusco, for same cargo, loading January 10 with same destination, has fixed Teekay tonnage at W/S 357.5. – On small sizes, Citgo, for 50,000 tons of cargo, loading January 1, discharging US Gulf, has fixed M/T «Jill Jacob» at W/S 445. – On Suezmaxes, rates in W. Africa are about W/S 200-210 for transatlantic voyages while VLCCS out of the same area are fixed above W/S 160 with destination west and around W/S 150 with destination East. – In the N. Sea, rates are about W/S 200 for transatlantic voyages. – In the Med., the latest fixtures are around W/S 220 for cross cargoes in the area. – Lukoil, for 140,000 tons of cargo, loading January 13, discharging UKC-Med., has fixed alliance tonnage at W/S 220. – On Aframaxes, SARAS, for 80,000 tons of cargo, loading January 9 Libya, discharging Italy, has fixed M/T «Ce Merapi» at W/S 305. – In W. Africa, Sun, for 130,000 tons of cargo, loading January 17, discharging USAC, has fixed M/T «Max Jacob» at W/S 220. – In Arabian Gulf, IOC has fixed M/T «Bright Jewel» for 260,000 tons of cargo, loading January 24, discharging India, at W/S 125. DRYCARGO A fairly thin trading period due to holidays and the stage of the market. – On Capers, the fixture by Hanjin of the 2004-built M/V «Glorius,» 171,320 dwt, delivery Italy early January for a trip via Brazil, redelivery Japan at USD 92,000 daily appears encouraging. – On Panamaxes, trading seems very slow with very little new business, while on Handymaxes, Atlantic conditions are certainly easier although details are slow to surface in this thin trading market. – In Far East, Kline has fixed M/V «Danae,» 75,106 dwt, built 2001, delivery December 28-30 Taiwan, trip via Australia, redelivery Japan at USD 33,500 daily. – In Atlantic, CSE has fixed M/V «Alpha Flame,» 74,545 dwt, built 1999, delivery Passero end-December, trip via Brazil, redelivery Taiwan, at USD 40,000 daily. – On smaller sizes, Glory Trans has fixed M/V «Aristea M,» 45,584 dwt, built 1997, delivery end-December to early January, trip via west coast India, redelivery China at USD 35,750 daily.