ECONOMY

Shipping Report

TANKERS -In the Med., the only available cargo in the market is that of Repsol out of Ras Lanuf with loading dates of Jan. 16-18. Rates are hovering around W/S 100-102.5, while, in the Cont., similar cargoes are fixed at W/S 95. -Caribs even weaker with the 70,000 tons cargo liftings being fixed at W/S 115. -Lesser demand also for Suezmaxes in W. Africa and Med., with Hess having fixed M/T «Genmar Macedon» at W/S 67.5 and Sun failing M/T «Genmar Harriet,» which was fixed at W/S 65 with destination USAC. – In the Med., Stasco has fixed Iranian tonnage for 80,000 tons of cargo loading Jan. 18 Libya, discharging Med., at W/S 97.5. -In the Continent, Exxon for 80,000 tons of cargo loading Jan. 18 N. Sea, discharging UKC, has fixed M/T «Braveheart» at W/S 95, while Koch for same cargo quantity loading mid Jan., discharging UKC, has fixed M/T «Magnitude» at same levels. -In Caribs, Chevtex for 70,000 tons of cargo loading Jan. 15 East Coast Mexico, discharging US Gulf, has fixed M/T «Astro Antares» at W/S 117.5. DRY CARGO Market freights continue improving, with Capers being fixed at better figures in the Atlantic, while the East remains lackluster. -Panamaxes are in good demand in the Atlantic, while the speed of recovery in the East appears noticeable. Rates are up from around 5-6,000 USD daily to around USD 8,000 for 3-5 months period. -On Capers, Swiss Marine has fixed M/V «Cleopatra Dream» 149,989 dwt, built 1990, delivery China Jan. 12 for 2 legs at USD 7,000 daily. -On Panamax in Far East, NYK has fixed M/V «George» 77,078 dwt, built 1984, delivery China mid Jan. trip via Indonesia, redelivery Japan, at USD 7,000 daily while Irisl has fixed M/V «Maratha Mission» 76,905 dwt, built 1985, delivery Taiwan Jan. 12, redelivery Muscat, at USD 6,650 daily. -In Atlantic, Daeyang has fixed M/V «World Rule» 73,700 dwt, built 1999, delivery France Jan. 16. for 4-6 months period at USD 7,750 daily. -On smaller sizes, Van Ommeren Clipper has fixed M/V «Costas» 38,054 dwt, built 1983, delivery Venezuela Jan. 15-20, redelivery Portugal, at USD 8,000 daily.