ECONOMY

Shipping Report

TANKERS There are very few encouraging signs that the market may become more active in the next few days. -Rates for Aframaxes in the Med. and Cont. are still dragging around W/S 105, mostly on replacements, while on Suezmax W. Africa has not provided enough cargoes. -In the Med. Most has fixed Agip tonnage for 80,000 tons of cargo loading jan. 5 Egypt discharging Italy at W/S 105. -In the Continent Dea for 80,000 tons of cargo loading Jan. 10 discharging Germany has fixed M/T «Stentex» at W/S 110 while Repsol for same cargo quantity loading Jan. 4 N. Sea discharging Spain has fixed M/T «Sks Tweed» at W/S 105. -In Caribs Valero for 70,000 tons of cargo loading Jan. 7 discharging US Gulf has fixed M/T «Eagle Baltimore» at W/S 165. -In W. Africa Petrobras has fixed M/T «Matilde» for 130,000 tons of cargo loading Jan. 15 discharging Brazil at W/S 80. -In Arabian Gulf Stasco for 260,000 tons of cargo loading Jan. 26 discharging Far East has fixed M/T «New Circassia» at W/S 35. DRY CARGO Market in general on better sentiment with Baltic index moving upward by 7 points. Bulkcarriers index up by 12 points and on Panamaxes by 7. -Atlantic seems firmer while Far East remains flat with Japan having been on holiday. -Capers in the area are benefiting from the continuing Chinese congestion at their ports expecting improvement on freights. -Handies are covered throughout the holidays at lower levels with the eastern Med. still the place to be for the larger units. -On Capers Hanjin has fixed M/V «Yue Shan,» 169,159 dwt, built 1999, delivery Netherlands Jan. 10-11 trip via Nouadhibou redelivery France at USD 9,600 daily. -On Panamax in Far East Coeclerici has fixed M/V «Marine Prosperity» 73,326 dwt, built 2001, delivery Taiwan mid Jan. for 3-5 months at USD 6,650 daily. -In Atlantic Dreyfus has fixed M/V «Triton» 75,000 dwt, built 2001, delivery US Gulf Jan. 10-14 redlivery Southeast Asia at USD 7,250 daily and USD 155,000 ballast bonus. -On smaller sizes Mur has fixed M/V «Dakshineshwar» 47,277 dwt, built 1987, delivery S. Africa Jan. 2-10 redelivery Far East at USD 6,900 daily.