ECONOMY

Shipping Report

TANKERS Rates stable in spite of the activity in the Med. with charterers such as Erg, Api and Stasco taking a number of Aframax vessels. Cont. for the normal UK runs at less than W/S 100 for Baltic trade vessels are fixed at a premium. In Caribs rates are weakening with Blanchard having fixed M/T «Mare Dorico» for 70,000 tons of cargo loading Jan. 9 East Coast Mexico discharging US Gulf at W/S 140. On Suezmax Med. with a number of prompt vessels while W. Africa’s cargoes are negotiated at W/S 65-67,5 with destination USAC. In the Med. CRC has fixed Agip tonnage for 80,000 tons of cargo loading Jan. 10 Libya discharging Italy at W/S 102,5 while Erg has fixed Enalios tonnage for same cargo quantity loading Jan. 14 with same destination at W/S 95. In the Cont. Vitol has fixed M/T «Moscow Univers» for 80,000 tons of cargo loading Jan. 9 for UK-Cont. round voyage at W/S 97,5 while Repsol for same cargo quantity loading Jan. 11 UK discharging Spain has fixed M/T «Progress» at same levels. In Caribs Chevtex for same cargo quantity loading Jan. 9 with same destination has fixed M/T «Guardian» at W/S 160. In W. Africa CSSA for 130,000 tons of cargo loading Jan. 19 discharging UKC/Med. has fixed M/T «New Horizon» at W/S 72,5. DRY CARGO Prospects are definitely brighter for Panamaxes in both eastern and western areas. The fixture of the 2001-built 73326 dwt Marine Prosperity was booked by Coeclerici for 3-5 mos trading with delivery Taiwan and redelivery worldwide at an improved USD 6,650 daily. Other vessels in the area report that there is much more enquiry for short period and this is with the Japanese still on holiday. In the Far East Eta has fixed M/V «Mariniki» 64,282 dwt, built 1989, delivery S. Australia mid Jan. redelivery S. Arabia at USD 5,950 daily and USD 95,000 ballast bonus. In the Atlantic Wilmar has fixed M/V «Goldbeam Trader» 74,247 dwt, built 2001, delivery mid Jan. US Gulf redelivery China at USD 7,250 daily and USD 110,000 ballast bonus. On smaller sizes Sinotrans has fixed M/V «Curia» 50,900 dwt, built 2001, delivery Australia Jan. 10-15 redelivery Far East at USD 7,500 daily and USD 110,000 ballas bonus.