Monday, January 25, Week 4 The Week at a Glance

Transcription

1 Monday, January 25, 21 - Week 4 The Week at a Glance Baltic Dry Indices* Last Fridays Closing Weekly Difference A Book s cover We thought of being a little philosophical this week! Well, it s an old saying but our communities have long forgotten about it. Why we keep on judging all things from what it looks and seems? Same takes place in most of our transactions as well. We are manipulated by the press and the ones owning the media rule the psychology of the mass. This explains the over-exposure of Greece s adverse economic outlook, though many countries worldwide and even many so called developed and industrial countries have proven worst economic data to show. We have even believed some evaluation houses ranking Lehmann Brothers stock into BUY just 2 days before it collapses. Consequently, the so called $1.. question is: Who to trust? I am afraid there is no simple answer to that and the only rational criteria on which someone has to rely on is only his pocket. Done but Failed True or False: The reported sale of the 1991 built RORO LEADER for demolition last week was not correct as the vessel is still trading regularly. Greek Listed Companies Last Fridays Closing Weekly Difference NYSE 73,61-326,18 Baltic Dry Index Baltic Cape index Baltic Panamax Index Baltic Supramax Index Baltic HandySize Index Newbuilding Prices 1/2 9 11/29 12/29 1/21 VLCC 3, N/A $15 $15 $15 SUEZMAX 15, AFRAMAX 113, PANAMAX 72, MR 51, CAPESIZE 175, KAMSARMAX 81, SUPRAMAX XS 5, HANDYSIZE 28, N/A $6 $6 $6 N/A $5 $5 $5 N/A $42 $42 $42 N/A $35 $35 $35 N/A $58 $58 $55 N/A $35 $35 $35 N/A $31 $31 $31 N/A $26 $26 $26 NASDAQ 225,29-82,7 Brent Prices Dry Ships 5,83 -,45 Genmar 7,83 -,22 Excel (merged with Quintana) 6,25 -,85 Diana 14,45-1,64 Top Ships 1,11 -,6 TEN 17,5 -,44 Currencies* Last Fridays Closing Weekly Difference Stealth Gas 6,1 -,2 Capital Product Partners 9,43 -,25 EURO/USD 1,4139 -,2 USD/JPY 89,93 -,87 USD/CNY 6,8271, Euroseas 4,22 -,9 Danaos 4,77 -,8 *The above tables show last Friday's closing including the weekly balance. ISO Certified by Germanischer Lloyd Copyright by Allied Shipbroking Inc

2 Secondhand Sales Dry Comments Capes retracted severely on last Monday and Tuesday and even if all routes increased during the rest of the week the finishing line was on the negative side. The Pacific market reversed totally with the Pacific RV at %. T/C Average at US$ 4,37. In general, the Panamaxes followed once more the Capes' trend although with minor ups and downs. It seems that Panamaxes are on hold, waiting for further developments in the market of their more voluminous sisters. T/C Average at US$ 29,417. Supramaxes softened at average -3.51% with all numbers going 1 working days back. Many Supramaxes appear on stream which were well expected but soon enough we will see the results. T/C Average at US$ 25,63. For one more week Handies remain solid with all routes and basins stable. T/C Average at US$ 17,613. Interest in period fixtures was tailed off due to the high fluctuations observed minimizing the trust of the market to the positive trend line, the pre-holidays period for the Chinese New Year as well as the numerous fixtures of the recent weeks. In the sale and purchase front a full dish menu has been presented last week; In the handies, the mid 9s built MIRA R has been sold for USD 14,5 million most probably to Koreans. In more modern tonnage, the 22 built PRIMROSE has been sold to Chinese buyers for excess USD 2, million. The 1986 built handymax ZAMRUD after having failed a couple of weeks ago for USD 8,3 million, she has now been confirmed sold for USD 8,6 million this time to Middle Eastern based buyers. Another confirmed deal was the 1998 built handymax AOLUCKY sold for a very firm price of USD 2,5 million though we understand that she was inspected extremely well. The Chinese built supramax VICTORIA III has been reported sold to Italian buyers for a price of USD 28,5 million. Panamax speaking, it seems that 1 year old units should cost around region 28, million. Such levels are backed by the sales of the 1999 built DARYA RADHE and AEOLIAN SPIRIT. In the capes, the 25 built CAPE PIONEER has been reported sold to Greek buyers for USD 54, million. Bulk Carrier Vessel's Name Built Country TEU Gears Engine Price Sale's Comment NATCHA NAREE JAPAN 4 X 25,4t CRANES Mitsubishi 4.8. USD SOLD TO FAR EASTERN BUYERS NAYANA NAREE JAPAN 3 X 25t CRANES Mitsubishi 4.5. USD SOLD TO CHINESE BUYERS MIRA R JAPAN 4 X 3t CRANES Mitsubishi USD SOLD TO SOUTH KOREAN BUYERS PRIMROSE JAPAN 4 X 3t CRANES B&W 2.5. USD SOLD TO CHINESE BUYERS ZAMRUD KOREA, SOUTH X 25t CRANES B&W 8.6. USD SOLD TO MIDDLE EAST BUYERS AOLUCKY JAPAN 4 X 3t CRANES Mitsubishi 2.5. USD SOLD TO GREEK BUYERS VICTORIA III CHINA, PEOPLE'S MAN-B&W USD SOLD TO ITALIAN BUYERS M. FARUK JAPAN Mitsubishi USD SOLD TO CHINESE BUYERS SILVERGATE JAPAN B&W USD SOLD TO SOUTH KOREAN BUYERS DARYA RADHE JAPAN Sulzer 27.. USD SOLD TO U.S.A BASED BUYERS AEOLIAN SPIRIT JAPAN Sulzer 28.. USD SOLD TO UNDISCLOSED BUYERS CAPE PIONEER KOREA, SOUTH B&W 54.. USD SOLD TO GREEK BUYERS STAR BETA POLAND Sulzer 22.. USD SOLD TO CHINESE BUYERS Container Vessel's Name Built Country TEU Gears Engine Price Sale's Comment SHANGHAI BRIDGE CMA CGM KESSEL General cargo JAPAN 5896 Sulzer 22.. USD SOLD TO UNDISCLOSED BUYERS KOREA, SOUTH 65 MAN-B&W 45.. USD SOLD TO GREEK BUYERS (DRYSHIPS) Vessel's Name Built Country TEU Gears Engine Price Sale's Comment ELEGANCE GERMANY 372 MaK - Reefer Vessel's Name Built Country TEU Gears Engine Price Sale's Comment ALTARA CARRIER SOLD TO INDONESIAN BUYERS ON PRIVATE TERMS JAPAN 8 X 5t DERRICKS B&W 1.2. USD SOLD TO UNDISCLOSED BUYERS 2

3 Wet Comments In the VLCC sector, there was an ease of activity with little fresh enquiry that helped charterers push rates downwards. Rates for MEG/ East were reported at WS 117.5, however, tonnage lists are rather tight giving good possibilities for rates to recover. Despite the very firm previous weeks, the Suezmax market witnessed a downward correction in rates, while the tonnage available keeps piling up. Waf/ Usac route has dropped to WS 125 levels from WS 175 previously achieved. On the other hand routes ex Black Sea seem to resist as tonnage lists are tight and there is still a good number of requirements. Activity has been rather slow for Aframaxes in the Med and in combination with the accumulated tonnage lists rates dropped at WS 11 levels. The North Sea and Baltic have been firmer with freight levels reaching at wws 165 and WS 1 respectively. In the Clean sector, the LRs in the MEG have been rather steady with LR2s firming by a few points. Freight levels for the MEG/ Japan route were reported at WS 14 for LR2 and at WS 155 for LR1s. MRs have remained rather quiet while earnings have remained steady in most of the markets. It was a rather MR week in the sales as Norden is reported being the buyer of the three Gan sisters, namely GAN-SHIELD, GAN-SPIRIT and GAN-SABRE for USD 79, million en bloc. In the Suezmaxes, Centrofin in Greece is said to having paid region USD 15, million for the 1994 built AFRICAN RUBY. Tanker Vessel's Name Built Country DB DS Engine Price Sale's Comment GAN-SHIELD KOREA, SOUTH Y Y MAN-B&W 26.. USD GAN-SPIRIT KOREA, SOUTH Y Y MAN-B&W 26.. USD GAN-SABRE KOREA, SOUTH Y Y MAN-B&W 27.. USD SOLD EN BLOC WITH GAN-SABRE AND GAN-SPIRIT TO NORWEGIAN BUYERS (NORDEN) - RGN USD 79.. EN BLOC SOLD EN BLOC WITH GAN-SABRE AND GAN-SHIELD TO NORWEGIAN BUYERS (NORDEN) - RGN USD 79.. EN BLOC SOLD EN BLOC WITH GAN-SHIELD AND GAN-SPIRIT TO NORWEGIAN BUYERS (NORDEN) - RGN USD 79.. EN BLOC DIFKO CHASER DENMARK Y Y B&W 6.5. USD SOLD TO GREEK BUYERS (AEGEAN) AFRICAN RUBY JAPAN Y Y Mitsubishi 15.. USD Gas tanker SOLD TO GREEK BUYERS (CENTROFIN) Vessel's Name Built Country DB DS Engine Price Sale's Comment GAS PIONEER NETHERLANDS Y Y A.B.C USD SOLD TO MALAYSIAN BUYERS GAS ETERNITY JAPAN N N B&W 7.5. USD GASCHEM BEN FLOR GERMANY, FEDERAL Y N MAN - SOLD TO CHINESE BUYERS (ZHUHAI CHANG SENG) SOLD TO GREEK BUYERS (BENELUX OVERSEAS) ON PRIVATE TERMS 3

4 Baltic Dry Indices Year BDI Max BDI Avg BDI Min BCI Max BCI Avg BCI Min BPI Max BPI Avg BPI Min BSI Max BSI Avg BSI Min Baltic Dry Index /1/85 1/7/85 1/1/86 1/7/86 1/1/87 1/7/87 1/1/88 1/7/88 1/1/89 1/7/89 1/1/9 1/7/9 1/1/91 1/7/91 1/1/92 1/7/92 1/1/93 1/7/93 1/1/94 1/7/94 1/1/95 1/7/95 1/1/96 1/7/96 1/1/97 1/7/97 1/1/98 1/7/98 1/1/99 1/7/99 1/1/ 1/7/ 1/1/1 1/7/1 1/1/2 1/7/2 1/1/3 1/7/3 1/1/4 1/7/4 1/1/5 1/7/5 1/1/6 1/7/6 1/1/7 1/7/7 1/1/8 1/7/8 1/1/9 1/7/9 1/1/1 1/7/1 Baltic CapeSize Index \6\ 1\8\ 1\1\ 1\12\ 1\2\1 1\4\1 1\6\1 1\8\1 1\1\1 1\12\1 1\2\2 1\4\2 1\6\2 1\8\2 1\1\2 1\12\2 1\2\3 1\4\3 1\6\3 1\8\3 1\1\3 1\12\3 1\2\4 1\4\4 1\6\4 1\8\4 1\1\4 1\12\4 1\2\5 1\4\5 1\6\5 1\8\5 1\1\5 1\12\5 1\2\6 1\4\6 1\6\6 1\8\6 1\1\6 1\12\6 1\2\7 1\4\7 1\6\7 1\8\7 1\1\7 1\12\7 1\2\8 1\4\8 1\6\8 1\8\8 1\1\8 1\12\8 1\2\9 1\4\9 1\6\9 1\8\9 1\1\9 1\12\9 1\2\1 1\4\1 Baltic Panamax Index \6\ 1\8\ 1\1\ 1\12\ 1\2\1 1\4\1 1\6\1 1\8\1 1\1\1 1\12\1 1\2\2 1\4\2 1\6\2 1\8\2 1\1\2 1\12\2 1\2\3 1\4\3 1\6\3 1\8\3 1\1\3 1\12\3 1\2\4 1\4\4 1\6\4 1\8\4 1\1\4 1\12\4 1\2\5 1\4\5 1\6\5 1\8\5 1\1\5 1\12\5 1\2\6 1\4\6 1\6\6 1\8\6 1\1\6 1\12\6 1\2\7 1\4\7 1\6\7 1\8\7 1\1\7 1\12\7 1\2\8 1\4\8 1\6\8 1\8\8 1\1\8 1\12\8 1\2\9 1\4\9 1\6\9 1\8\9 1\1\9 1\12\9 1\2\1 1\4\1 Baltic Supramax - HandySize Index \12\2 1\2\3 1\4\3 1\6\3 1\8\3 1\1\3 1\12\3 1\2\4 1\4\4 1\6\4 1\8\4 1\1\4 1\12\4 1\2\5 1\4\5 1\6\5 1\8\5 1\1\5 1\12\5 1\2\6 1\4\6 1\6\6 1\8\6 1\1\6 1\12\6 1\2\7 1\4\7 1\6\7 1\8\7 1\1\7 1\12\7 1\2\8 1\4\8 1\6\8 1\8\8 1\1\8 1\12\8 1\2\9 1\4\9 1\6\9 1\8\9 1\1\9 1\12\9 1\2\1 1\4\1 4

5 Secondhand Sales Statistics Current Secondhand Activity per / Size/ Invested Capital During 21 A. Dry A. Dry Total B. Tanker Size 1. Minibulk (up to 9, Handy (1, - 39, Handymax (4, - 59, Panamax (6, - 79, Capesize (8,+ 1. Minitank (up to 9, Product (1, - 59, Panamax (6, - 79, Aframax (8, - 119, Suezmax (12, - 199, VLCC (2, - 299, ULCC (3,+ Invested Capital $ $ $ $ $ $ $ $ $ $ $ $12.. Secondhand Activity per / Size/ Invested Capital...during 28 Invested Capital A. Dry $ B. Tanker $ C. Container $ D. Reefer $84.4. E. RoRo Cargo/ Ferry/ Passenger $621.. F. Miscellaneous $ Grand Total $ during 29 Invested Capital A. Dry $ B. Tanker $ C. Container $ D. Reefer $ E. RoRo Cargo/ Ferry/ Passenger $3.19. F. Miscellaneous $ Grand Total $ Bulk Carriers Sales Per during % CAPESIZE 2 % PANAMAX 2 % HANDYMAX 41 % HANDY 7 % MINIBULK B. Tanker total $ C. Container Total $ D. Reefer Total E. RoRo Cargo/ Ferry/ Passenger Total $ $ Tankers Sales Per during 21 % ULCC 3 % VLCC 13 % SUEZMAX 8 % AFRAMAX 3 % PANAMAX 43 % PRODUCT 33 % MINITANK F. Miscellaneou s Total $72.8. Grand Total $

6 Invested Capital in Secondhand per month as of January 29 Year Month Invested Capital Total Total April-29 $ May-29 $ June-29 $ July-29 $ January-29 $ February- 29 $ March-29 $ August-29 $ September- 29 $ October-29 $ November- 29 $ December- 29 $ $ January-21 $ $ Invested Capital Graph - Invested Capital in Secondhand per month as of January 29 Invested Capital Per Month /29 2/29 3/29 4/29 5/29 6/29 7/29 8/29 9/29 1/29 11/29 12/29 1/21 Months Vesels Dry - Buyers' Nationality Total Capital No Of 22 % OTHER % PAKISTAN % INDIA % GERMANY % SINGAPORE 2 % INDONESIA 11 % KOREA SOUTH % NORWAY 13 % GREECE 3 % CHINA PEOPLE'S Buyers Nationality during 21 - Top 1 ( vessels per sector) Wet - Buyers' Nationality 13 % OTHER 5 % PAKISTAN 5 % INDIA % GERMANY 1 % SINGAPORE 1 % INDONESIA 3 % KOREA SOUTH 2 % NORWAY 1 % GREECE 5 % CHINA PEOPLE'S 2 % UNKNOWN Buyer's Country A. Dry B. Tanker C. Container D. Reefer Grand Total UNKNOWN CHINA, PEOPLE'S GREECE NORWAY 8 8 KOREA, SOUTH INDONESIA SINGAPORE GERMANY 4 4 INDIA 2 2 PAKISTAN 2 2 Other Grand Total Container - Buyers' Nationality 12 % OTHER % PAKISTAN % INDIA 24 % GERMANY 6 % SINGAPORE 6 % INDONESIA % KOREA SOUTH % NORWAY 12 % GREECE 29 % CHINA PEOPLE'S Buyers Nationality during 21 - Top 1 (Invested Capital per sector) Buyer's Country A. Dry B. Tanker C. Container D. Reefer Grand Total UNKNOWN CHINA, PEOPLE'S GREECE NORWAY KOREA, SOUTH PAKISTAN SINGAPORE TUNISIA GERMANY Other Grand Total

7 Demolition Sales Type Vessel's Name Built Country LDT Price/ ldt Sale's Comment GENERAL CARGO TUG CALEMAX ENTERPRISE WOLRAAD WOLTEMADE UNITED KINGDOM UNITED KINGDOM - 35 SOLD TO INDIA SOLD TO INDIA ON PRIVATE TERMS CONTAINER LADY MAGA NETHERLANDS SOLD TO INDIA RO-RO CARGO MELIH K DENMARK SOLD TO INDIA ON PRIVATE TERMS REEFER ASHRAF B SPAIN - - SOLD TO INDIA ON PRIVATE TERMS GENERAL CARGO GENERAL CARGO LADY MARAH GERMANY, FEDERAL - 32 SOLD TO INDIA DIMA SPAIN SOLD TO INDIA ON PRIVATE TERMS TANKER RIO GALLEGOS I JAPAN SOLD TO INDIA ON AS IS URUGUAY BASIS CONTAINER MSC ERMINIA CONTAINER JAKARTA STAR II GERMAN DEMOCRATIC REPUBLIC GERMANY, FEDERAL 82 - SOLD TO INDIA ON PRIVATE TERMS SOLD TO INDIA GAS TANKER SURREY DENMARK 82 4 SOLD TO INDIA RO-RO CARGO NILEDUTCH PRODIGY POLAND SOLD TO INDIA ON PRIVATE TERMS GENERAL CARGO GEORGIOS JAPAN SOLD TO INDIA CONTAINER MSC KOPER JAPAN - - SOLD TO INDIA ON PRIVATE TERMS CONTAINER DELMAS KISSAMA FRANCE - - SOLD TO INDIA ON PRIVATE TERMS TANKER MERLIN CHAMPION JAPAN SOLD TO INDIA TANKER BOW MAASSLOT NETHERLANDS SOLD TO INDIA BC ST. PETER BULGARIA SOLD TO INDIA TANKER MERLIN EXPLORER KOREA, SOUTH SOLD TO INDIA CONTAINER OOCL FORTUNE JAPAN SOLD TO CHINA ON PRIVATE TERMS TANKER DEVSI KOREA, SOUTH SOLD TO BANGLADESH ON AS IS INDIA BASIS BC KYLA JAPAN SOLD TO INDIA ON AS IS BRAZIL BASIS 7

8 Demolition Statistics For 21 Current Demolition Activity per / Size A. Dry Size No Of No Of 1. Minibulk (up to 9, Handy (1, - 39, Handymax (4, - 59, Panamax (6, - 79, Capesize (8, A. Dry Total B. Tanker 1. Minitank (up to 9, Product (1, - 59, Panamax (6, - 79, Aframax (8, - 119, Suezmax (12, - 199, VLCC (2, - 299, ULCC (3, B. Tanker Total C. Container Total D. Reefer Total E. RoRo Cargo/ Ferry/ Passenger Total F. Miscellaneous Total Grand Total Please Note that dry trading combination carriers are included in the dry sector and wet trading ones in the tanker sector. 8

9 Country Demolition Activity by Country BANGLADESH BELGIUM CHINA, PEOPLE'S FAR EAST INDIA INDONESIA KOREA, SOUTH PAKISTAN ' Average Age For Demolition A. Dry 3,6 3,4 34,3 31,1 B. Tanker 26,4 28,9 29,4 29,1 C. Container 26,7 28,9 3,6 28,8 D. Reefer 28,9 3,3 33,1 29 E. RoRo Cargo/ Ferry/ Passenger F. Miscellaneous 49,8 46, ,9 28,8 33,1 33,1 31,8 SINGAPORE TURKEY U.A.E. (DUBAI) UNKNOWN Grand Total Demolition Activity By Demolition Per Month Demolition of BCs by percentage for % Minibulk 71 % Handy 5 % Handymax 9 % Panamax 2 % Capesize dwt no of vessels /29 2/29 3/29 4/29 5/29 6/29 7/29 8/29 9/29 1/29 11/29 12/29 1/21 Demolition of Tankers by percentage for 29 Months Sum of 14 % Minitank 57 % Product 6 % Panamax 1 % Aframax 5 % Suezmax 7 % VLCC % ULCC Year Dry Demolition activity since 1996 of Dry Tankers of Tankers

10 Contact Details ILIAS BOLIS AOH: MOBILE: GEORGE DASKALAKIS AOH: MOBILE: STAVROS DRAKOGIANNOPOULOS AOH: MOBILE: SAKIS DRAKOGIANNOPOULOS AOH: MOBILE: NASSOS HATZIGEORGIOU AOH: MOBILE: COSTAS KARADIMAS AOH: MOBILE: JOHN KOSTOYANNIS AOH: MOBILE: THASSOS PAPOUIS AOH: MOBILE: THEODOROS MOISSOGLOU AOH: MOBILE: TASSOS PROSIOS AOH: MOBILE: JOHN STASSINAKIS AOH: MOBILE: EVAGELOS TOBALOGLOU AOH: MOBILE: COSTIS TSALPATOUROS AOH: MOBILE: PLUTON VARVAROS AOH: MOBILE: ALLIED SHIPBROKING INC. 7, Filonos Street, 7 th Floor, Piraeus , Greece Tel: Fax: / 19 snp@allied-shipbroking.gr ALLIED CHARTERING S.A. 7, Filonos Street, 5th Floor, Piraeus , Greece Tel : Fax: drycargo@allied-chartering.gr s: tanker@allied-chartering.gr Visit 1