OFFSHORE MONTHLY MARKET OVERVIEW

Transcription

1 OFFSHORE MONTHLY MARKET OVERVIEW 1 st 3 th November 17 SUMMARY OF CONTENT Value analysis Total second hand S&P activity Newbuilding activity Demolition activity +44 () 3 6 vesselsvalue.com

2 OFFSHORE VALUES THROUGH NOVEMBER 17 OSV Values have remained stable in both the /AHT and sectors this month. This table shows the monthly % change in value from 1 st to the 3 th November 17 for OSV vessels, by year of build. YEAR OF BUILD LARGE MEDIUM SMALL SUPER MEDIUM SMALL DWT DWT DWT BHP BHP BHP k +3.% -1.1% +4.% 8.k % +.9% 3.6k -1.1% +3.6% +1.4% 1 +.8% +.7% 3.6k +.8% -1.% +3.% +.9% % +.6% 3.4k -.9% +.7% +.4% % +.3% % -.4% % +1.9% -.% % -.7% % +1.% -1.% % +.7% +1.1% -1.4% % % +1.% +1.% -1.9% % +.8% % +3.7% % 4.7k +1.3% +1.% +3.% +.9% +44 () 3 6 vesselsvalue.com

3 OFFSHORE VALUES THROUGH NOVEMBER 17 Values have remained stable this month. 6 vessels have been sold this month. CSSC Shipping sold the Hull 134, Hull 134, 131 and hull 13 (17/18, Shanghai Waigaoqiao Shipbuilding) in an internal deal to Tianjin Offshore Investment Management for USD 79.3 mil. Malaviya Seven (4, DWT, Jul 1994, Vard Soviknes) was bought at auction by Hoyland Shipping for USD.9 mil, VV value USD.89 mil. Tan Cang Saigon purchased the Olympic Progress (3,3 DWT, Jun, Vard Brevik) from Olympic Shipping. & AHT Values have remained stable this month. 1 sales have taken place this month. Ark Tori and the Ark Tze (1,8 BHP 8/9, Batamec) sold en bloc for USD.78 mil, VV value USD 6.74 mil. Skandi Mogster (1,1 BHP, Jun 1998, Kleven Verft) was sold for USD 1.7 mil, VV Value USD.6 mil. Pareto offloaded Captain John K, Kathy K, Cecilie K, Ina K, Ingrid K and Trine K (, BHP, 9-1, ASL Marine) to an undisclosed buyer. Solstad Farstad sold Nor Star (,6 BHP, Aug, Jaya Asiatic) to an undisclosed West African buyer. Subsea Supporter (,44, Jul 1999, Imamura Zosen) was sold to Bukser & Berging by Subsea Partner. +44 () 3 6 vesselsvalue.com

4 ND HAND S&P ACTIVITY NOVEMBER 17 VS 16 S&P $ Value of nd hand sales in November 17 vs November 16. Value (M USD) 1, Nov 17 $98 Nov 16 $748 $73 $18 $486 $8 $8 $8 $47 $6 Total value for sales is down 33% from November 17 compared to November 16. Bulker transaction values are.% higher this November on the contrary to the number of vessels sold in 17 which are lower by 1 sales. The most noticeable transaction values are in the Container sector where total sales are down by % for November 17 compared to November 16. This is due to a number of larger TEU vessels being sold in 16 whereas only small TEU vessels were sold in 17. S&P No. Number of nd hand sales taken place in November 17 vs November Nov 17 Nov 16 No. Vessels Total sales by number count are the same for both November 16 and November 17. Bulker sales by number are down by 17% this month, however as seen in the graph above transaction values are higher. This reflects the rise in values for November 17 compared to November 16 where we saw a more depressed market. Mentioned above, transaction prices for Container vessels are much higher for November 16 however number of sales taken place in the Container sector are higher for November 17 demonstrating the smaller TEU is worth less. +44 () 3 6 vesselsvalue.com

5 NEWBUILDING ACTIVITY NOVEMBER 17 VS 16 Newbuilding No. Number of newbuilding orders taken place in November 17 vs November 16. No. New Buildings Nov 17 Nov Overall trend this month has been for larger tonnage in Bulkers. Bulker NB orders have been placed for November 17. Pan Ocean have ordered 4 Capesize Ore vessels for delivery between 19-1, 3, DWT, blt New Times Shipbuilding for a price of USD 74 mil each. These are the biggest Chinese built Ore carriers we have seen ordered to date. Zodiac Maritime have ordered New Panamax Containers (11, TEU, Deliv 19, HHI) for USD 9 mil. Newbuilding Total No. Total number of newbuild orders from 1 st November 16 to 3 th November 17. Ship Type 16 Q1+Q 16 Q3+Q4 16 Total 17 Q1+Q 17 Q3+Q4 Grand Total Bulker Tanker Container Gas OSV Overall, Bulkers NB orders placed are 86% higher for 17 so far with a total of 96 vessels, 138 of those are Panamax Bulkers. Q4 16 for Tankers saw 74 NB orders placed with the majority of vessels being smaller DWT however so far in Q4 17 only vessels have been ordered with 16 of these Small clean/chemical tankers. It is interesting to note only 3 OSV vessels have been ordered in 17 so far compared to the 39 in 16, a considerable decrease. +44 () 3 6 vesselsvalue.com

6 DEMOLITION ACTIVITY NOVEMBER 17 VS 16 Demolition No. Number of demolition sales per ship type, taken place in November 17 vs November 16. Nov 17 Nov 16 No. Demo sales Demolition Trend 4 Total demolition sales are 39% lower for November 17 compared to November 16 mainly due to the lack of scrapping in Containers and OSV vessels. Again, Pakistan was keen to receive Bulkers as it is closed to Tankers for the foreseeable future. Capesize vessels were delivered fetching high prices in the mid 4 s $/LDT. The POS Dedicator (8,4 DWT, 1993, Daewoo) achieved 44 $/LDT in the last week of November. Larger tonnage in the Tanker sector was scrapped including the VLCC OS Arcadia (99, DWT, 1996, Daewoo) sold for 419 $/LDT to Bangladesh, a respectable price. Further to that 1 Suezmax, Aframax and 3 LR vessels were also scrapped, most being delivered to Bangladesh. Demolition price trend for Tanker Price India from November 16 November 17. Tanker scrap price 4 USD/LDT 3 3 Jan 17 Apr 17 Jul 17 Oct 17 Sentiment firmed significantly in the last few weeks of November which gave rise to an increased number of vessels sold in the last week of November. +44 () 3 6 vesselsvalue.com