ECONOMY

Shipping Report

TANKERS Steady conditions in all sizes and areas. – On VLCCs, Idemitsu for 255,000 tons of cargo, loading Nov. 27, discharging Japan, has fixed M/T «Halden» at W/S 62.5, while Chevtex for 280,000 tons of cargo, loading Nov. 28, discharging USG/USWC, has fixed M/T «Astro Leon» at W/S 52.5 and 57.5, respectively. – Minor inquiry in Suezmaxes out of W. Africa, while the Med. is maintaining recent levels. Glencore has fixed M/T «Front Fighter» for 140,000 tons of cargo, loading Nov. 22 Russia, discharging UKC/Med. at W/S 142.5. – On Aframaxes, rates in the Med. are around W/S 140, while in UKC they are still at W/S 117.5. – Caribs are weakening further with Stasco having fixed M/T «Kuban» for 70,000 tons of cargo, loading Nov. 25, discharging US Gulf at W/S 190. – In the Med., Agip for 80,000 tons of cargo, loading Nov. 14 Libya, discharging Med., has fixed M/T «Missouri» at W/S 130. – In the Cont., CSSA for 80,000 tons of cargo, loading Nov. 17 N. Sea, discharging UKC/Med., has fixed M/T «Scorpius» at W/S 117.5 – 110, respectively. – In Caribs, Orion for 70,000 tons of cargo, loading Nov. 23, discharging US Gulf, has fixed M/T «Windsor» at W/S 182.5. – In W. Africa on VLCC, Vitol for 260,000 tons of cargo, loading Dec. 9, discharging Far East, has fixed M/T «Front Highness» at W/S 60. DRY CARGO Capers steady at relative good levels on T/C trips and T/C periods. Cosbulk has fixed M/V «Fersoa,» 173,149 dwt, built 1992, delivery China end Nov. for 12 months’ trading at USD 14,750 daily, while China Steel Express has fixed M/V «An Angel Dynasty» 171,101 dwt, built 1999, delivery Japan end Nov., trip via Roberts Bank, redelivery Taiwan at USD 18,000 daily. – The Panamax market remains encouragingly firm despite fairly low activity. In the Atlantic, the South Koreans have fixed M/V «Pearl of Abu Dhabi,» 75,214 dwt, built 2002, delivery end Nov. Germany for 4-6 months period at USD 11,500 daily, while in the East Kline has fixed M/V «Federal Sumida,» 72,493 dwt, built 1998, delivery end Nov., Japan trip via Queensland, at USD 9,250 daily. – Rates on Handies/Handymaxes are holding, while Tweendeckers are still very much in demand in both the Continent and Med. – On smaller sizes, Mur has fixed M/V «Hardwar,» 47,311 dwt, built 1986, delivery S. Africa mid-Nov., redelivery Far East, at USD 8,650 daily and USD 150,000 ballast bonus.