MONTHLY MARKET OVERVIEW

Transcription

1 MONTHLY MARKET OVERVIEW 1st 31st May 218 SUMMARY OF CONTENT Value analysis Total second hand S&P activity Newbuilding activity Demolition activity Charter rate analysis

2 BULKER VALUES THROUGH MAY 218 BULKERS All older Supramax and Handy tonnage have firmed over the course of the month. This table shows the monthly % change in value from 1 st to the 31 st May 218 for Bulker vessels, by year of build. YEAR OF BUILD CAPE PMAX SUPRA HANDY D WT DWT DWT DWT -1.9% -2.% -2.% +.1% +.1% -2.% +.3% +.2% -2.1% -2.1% +.5% -2.1% -2.1% +.8% -.4% 55k -.4% +1.1% +1.1% 55k -.5% -1.9% 55k -.6% +1.6% -1.9% 55k -.7% +1.9% -1.9% +1.6% 55k -.8% +2.2% -2.% +1.7% 55k -.9% +2.4% -2.1% +1.8% 1 -.6% +2.7% -.6% +2.1% 1 info@

3 BULKER VALUES THROUGH MAY 218 Capesize Values have remained stable this month. 16 sales have been confirmed this month. New Mighty (179,9 DWT, May 211, Hanjin Subic) sold for USD 27.5 mil, VV value USD mil. Star Bulk bought a total of 18 vessels from Songa Bulk this week for an undisclosed price in a part shares/part cash deal. Consisting of 6 capesize, 1 Panamaxes, 1 Ultramax and 1 Supramax. Panamax Values have firmed slightly in older tonnage this month. 26 sales have taken place this month. Boreal (74,2 DWT, Mar 22, Namura) sold for USD 1 mil, VV value USD 9.71 mil. Golden Eminence (79,4 DWT, Jul 21, Jinhai Intelligent Manufacturing) sold to SNP Shipping Services for USD 14.7 mil, VV value USD 13.8 mil. Supramax Values have softened slightly across all ages this month. 12 sales have taken place this month. Sea confidence (53,5 DWT, Jun 25, Oshima) sold for USD 1 mil, VV value USD 11 mil. Magnum force (53,6 DWT, Nov 28, Dayang) sold for USD 9.9 mil SS/DD due, VV value USD 11 mil. Zola (55,8 DWT, Jun 212, IHI) sold to Nomikos AM for USD 17.4 mil, VV value mil. Handy Values have remained stable this month. 26 sales have taken place this month. Clipper Lasco (28,4 DWT, Feb 24, Imabari) sold for 6.75 mil, VV 6.93 mil. Silvretta and Silvaplana (29,7 DWT, 23, Shikoku Dockyard) sold en bloc for USD 7 mil each, VV value USD 7.12/ 6.81 mil respectively. Cielo di Tokoyo (37,3, Jul 28, Saiki) sold to Samin Shipping for USD 12 mil, DD due, VV value USD mil. info@

4 TANKER VALUES THROUGH MAY 218 TANKERS Values have remained stable in all larger tonnage whereas LR1 and MR values have softened. This table shows the monthly % change in value from 1 st to the 31 st May 218 for Tanker vessels, by year of build. YEAR OF BUILD VLCC SUEZ AFRA LR1 MR D WT DWT DWT DWT DWT +1.1% -.4% -1.4% % +1.3% -.5% -1.6% -.4% % +1.3% -.7% % -1.% -2.% % -1.2% -2.2% -.1% % -2.4% +.1% % -2.6% +.3% 31k % -1.6% -2.6% 31k 1 +1.% -1.4% -2.5% 31k % -1.2% -2.2% 31k % -.8% 31k % -1.3% 31k 1 7k 45k +.5% -.8% 31k 1 7k 45k +.2% +1.5% +.1% 35k 155k 15k 7k 45k +.2% +2.3% +1.1% +.3% 35k 155k 15k 7k 45k +.1% +3.4% +2.2% +.1% 35k 155k 15k 7k 45k info@

5 TANKER VALUES THROUGH MAY 218 VLCC Values have have firmed slightly this month. 2 sales have been concluded this month. Takamine (36,2 DWT, Jun 24, Mitsubishi Heavy Ind) sold to Hellenic Tankers for USD 22.7 mil, VV value USD mil. Rokkosan (3,3 DWT, Oct 23, Universal) sold for an undisclosed price, VV value USD mil. Suezmax Values have firmed slightly this month. 1 sale has been concluded this month. United Leadership (159,1 DWT, Feb 25, Hyundai Heavy Ind) sold to Eurotankers for USD 18.2 mil, VV value USD mil. Aframax Values have softened in the modern tonnage this month. 1 sale has been concluded this month. Seaways Josefa Camejo (112,2 DWT, Feb 21, Hyundai Heavy Ind) sold for to Oasis Energy Co. for USD 9.5 mil. VV value USD 7.81 mil. LR2 Values have softened in the modern tonnage this month. 5 sales have been concluded this month. United Grace (112,8 DWT, June 21, New Times Shipbuilding) sold to Stealth Maritime for USD 22 mil, VV value USD mil. STI Rambla (11, DWT, Mar 217, Sungdong) and STI Rose (115,3 DWT, built Jan 215, Daehan) sold to Avic Leasing for an undisclosed price, VV value USD / mil. Aegea and Amorea (115,8 DWT, Mar / Jul 29, Samsung) sold to Latsco Shipping for USD 23.7 mil each, VV value USD / 24.3 mil. LR1 Values have softened in modern tonnage this month. 3 sales have been concluded this month. United Banner (73,6 DWT, Sept 27, New Century) sold to Sea World Management in a bank driven sale for USD 1.25 mil, VV value was USD 13.8 mil. United Ambassador / Carrier (73,6 DWT, Jun / Sept 27, New Century) sold at auction to Hellenic Tanker for USD 1.3 mil each, VV value USD / mil. info@

6 TANKER VALUES THROUGH MAY 218 MR Values have remained stable this month. 15 sales have taken place this month. Scorpio Tankers have sold a total of 8 MR2s. 5 x 214 Korean built MR2s to China Huarong Finance, for an undisclosed price including a bareboat back to Scorpio and a further 3 x Korean built 213/15 MR2s to Avic Leasing, again including a bareboat back. The British Courtesy / Serenity / Tranquillity (47,2 DWT, 25, Hyundai Mipo) sold DD due for USD 1.7 mil each, VV value / / mil. info@

7 CONTAINER VALUES THROUGH MAY 218 CONTAINERS Post Panamax and Panamax tonnage has firmed in value whereas Handy and Feedermax values have firmed. This table shows the monthly % change in value from 1 st to the 31 st May 218 for Container vessels, by year of build. YEAR OF BUILD POST PMAX PMAX HANDY FMAX TE U TEU TEU TEU +6.1% +5.1% -.1% +2.1% +6.% +5.1% +2.1% +6.% +5.1% +1.9% +5.9% +5.% +1.8% +5.9% +4.9% +1.8% +5.9% +5.% +1.6% +6.% +5.% +1.5% +6.1% +5.1% -.1% +6.2% +5.2% +6.3% +5.3% +.1% +1.% +6.4% +5.4% +.2% +6.5% -.6% +.3% +6.7% -.7% +.5% +.5% +3.9% -.7% -.7% +.8% +.3% % +.2% info@

8 CONTAINER VALUES THROUGH MAY 218 Post PMax Values have firmed for modern tonnage this month. 4 sales have been confirmed this month. YM Unity/ YM Utmost (8,24 TEU, Aug / Oct 26, Hyundai Heavy Ind) sold internally for USD 33.5 mil each, with a time charter attached for 3 / 5 months, respectively at USD 34,266 p.d. Hamburg (6,494 TEU, Mar 29, Koyo Dock) sold for USD 21 mil, VV value USD 2.6 mil. Puelo (6,541 TEU, Nov 26, Hyundai Heavy Ind) sold for USD 2.5 mil, VV value USD mil. Panamax Values have firmed slightly for modern tonnage this month. No sales have been confirmed this month. Sub-Panamax Values have firmed across all ages this month. 3 sales have been confirmed this month. Nordwoge (2,572 TEU, Feb 26, STX Offshore) and Welle (2,572 TEU, built Nov 25) sold for USD 11 mil each, VV value USD and 1.87 mil, respectively. Victoria Schulte (2,478 TEU, Jul 25, Aker Ostsee) sold for USD 11.8 mil, VV value USD 1.72 mil. Handy Values have firmed for older tonnage this month. No sales have been confirmed this month. Feedermax Values have firmed for older tonnage this month. 4 sales have been confirmed this month. ER Sydney (1,12 TEU, Aug 25, Vard Tulcea) and ER Hobart (1,118 TEU, built Sept 25 Jingling Shipyard Jiangsu) sold en bloc for USD 5.2 mil, VV value USD 4.86 and 5.4 mil, respectively. Ice Moon / Ice Crystal (698 TEU, Mar/ Apr 28, Sainty Marine Corporation) sold for an undisclosed price, VV value USD 3.67 / 3.72 mil. info@

9 LPG VALUES THROUGH MAY 218 LPG Values have softened slightly this month. This table shows the monthly % change in value from 1 st to the 31 st May 218 for LPG vessels, by year of build. YEAR OF BUILD VLGC LGC MGC SP FR LARGE SP FR SMALL FULL PRESS LEG CBM CBM C BM C BM C BM C BM C BM -1.7% -1.5% -1.3% -.9% +4.5% -1.1% 84k 3 12k -1.7% -1.5% -1.3% -1.% +4.5% -1.2% 84k 3 12k -1.7% -1.6% -1.4% -.9% +4.5% -1.1% 84k 3 12k -1.7% -1.4% -.8% +4.8% -1.% 84k 3 12k -1.7% -1.5% -.7% +4.9% -.8% 84k 12k -1.9% -1.5% -.5% +5.1% -.6% 82k 9k -2.% -1.9% -1.6% +5.4% +.2% 82k 9k -2.1% -2.% -1.7% +1.6% +5.6% 82k 9k -2.2% -2.1% +.3% +1.8% +5.9% 82k 9k -2.3% -2.2% -1.9% +2.1% +6.1% 82k 9k -2.4% -2.3% -2.1% +2.2% +6.3% +1.% 82k -2.6% -2.4% -2.2% +2.3% +6.3% 82k -2.7% -2.6% -2.3% +2.1% +6.2% +1.3% 82k -2.8% -2.7% -2.4% +2.% +6.% 7-3.% -2.9% -2.6% +1.5% +5.6% 7-3.1% -3.% -2.8% +4.9% +.2% 7 info@

10 LPG VALUES THROUGH MAY 218 VLGC Values have softened across all ages this month. No sales have been confirmed this month. SPFR Large vessels have firmed in older tonnage and small vessel values have firmed slightly this month. No sales have taken place this month. Fully Pressurised Values have softened this month. 1 sale has been confirmed this month. Gas Legacy (3,514 CBM, Dec 1998, Shitanoe Zosen) sold for an undisclosed price by StealthGas Inc. info@

11 OFFSHORE VALUES THROUGH MAY 218 OSV Values have softened for PSV s and firmed for AHTS/AHT s. This table shows the monthly % change in value from 1 st to the 31 st May 218 for OSV vessels, by year of build. YEAR OF BUILD LARGE PSV MEDIUM PSV SMALL PSV SUPER AHTS MEDIUM AHTS SMALL AHTS D WT D WT DWT BHP BHP BHP +2.1% +2.1% +2.% +9.1% +3.8% +3.9% 3.6k 1.7k 8.2k 5.5k +1.8% +1.8% +1.8% +9.% +3.4% +3.3% 3.6k 1.7k 8.2k 5.5k +1.% +8.7% +2.9% +3.% 3.6k 1.7k -.4% +8.3% +2.4% +2.5% 3.6k 1.7k +7.7% +1.9% +1.9% 3.4k 1.7k -3.1% -3.1% -2.9% +7.% +1.6% +1.6% 5.1k 1.7k -4.% -4.1% -4.1% +6.2% k -4.3% -4.3% -4.2% +5.2% +1.5% +1.% % -3.8% -3.5% +4.3% +1.1% k -2.5% -2.4% -2.4% +3.2% +1.5% +2.% k -.6% -.5% -.6% +2.% +1.1% k +2.% +1.9% +2.3% +.8% +1.5% +2.% k +4.8% +5.3% +4.8% -.4% +2.7% k +8.8% +8.4% +8.6% -1.7% +2.7% 4. 5k +12.2% +12.2% +12.7% -3.% +3.6% +4.8% 4. 5k +16.2% +16.5% +16.3% -4.1% 4. 5k info@

12 OFFSHORE VALUES THROUGH MAY 218 PSV Values have softened slightly, while older PSVs have firmed this month. 9 sale has been confirmed this month. Hornbeck Offshore purchased Dwight S Ramsey (5,6 DWT, Aug 21, Eastern Shipbuilding), Betty Pfankuch (5,6 DWT, Apr 211, Eastern Shipbuilding), Ram Nation (3,8 DWT, Dec 214, Leevac) and Ram Country (3,8 DWT, Apr 215, Leevac) en bloc for USD 36 mil from Aries Marine. Seatankers bought Hull 6282, Hull 6283, Hull 6285 (5,2 DWT, May 218, Fujian Mawei Shipbuilding) and Armada Tuah 52 (5,2 DWT, Oct 218, Fujian Mawei Shipbuilding) from the yard. VV en bloc value USD 99.5 mil. Solstad Farstad offloaded Far Supporter (4,7 DWT, Mar 1996, Bergen Fosen) to Hair Duong Co. VV value USD 1 mil. AHTS & AHT Values have firmed slightly this month. 3 sales have taken place this month. Solstad Farstad sold Far Sailor (16,89 BHP, Jul 1997, Vard Langsten) and Far Senior (16,823 BHP, Jun 1998, Vard Langsten) to undisclosed buyers. Undisclosed buyers picked up Kigoriak (16,8 BHP, Sep 1979, Saint John Shipbuilding) for conversion into a yacht from FEMCO. info@

13 2ND HAND S&P ACTIVITY MAY 218 S&P $ Value of 2nd hand sales in May 218 vs May 217. May 218 2,5 May 217 $2,19 Value (M USD) 2, 1,5 $1,121 1, $65 5 $315 Bulker $427 $242 $153 Tanker $37 $ Container Gas $23 OSV Total value for sales are down c.73% in May 218 compared to May 217. Bulkers and OSVs sales are higher by transaction level in May 218, compared to May 217. Tanker, Container and Gas sales are all lower by transaction value this May. Although, some Gas sales happened, they were sold at undisclosed prices. S&P No. Number of 2nd hand sales taken place in May 218 vs May May May No. Vessels Bulker Tanker Container Gas OSV Total sales by number count are the same for May 218 compared to May 217. Bulker sales by number count are up by c.152% with the majority of tonnage sold being Panamaxes and Handies. Tanker sales by number are down by c. 22% for May 218 compared to May 217. info@ 17

14 NEWBUILDING ACTIVITY MAY 218 Newbuilding No. Number of newbuilding orders taken place in May 218 vs May 217. May No. Newbuildings May Bulker 4 Tanker 4 Container 5 2 Gas 3 OSV The number of newbuilds is down significantly compared to May 217. Vitol ordered 4x VLCCs (3, DWT, delivery 22 Hyundai Heavy Ind) for USD 92 mil each. Apollo Asset ordered 4 x VLCCs (3, DWT, delivery 22 Daewoo) for USD 85.5 mil each. Zodiac Maritime has ordered 4 x ULCVs (14,3 TEU, delivery 22 Hyundai Heavy Ind) for an undisclosed price. info@

15 DEMOLITION ACTIVITY MAY 218 Demolition No. Number of demolition sales per ship type, taken place in May 218 vs May 217. May May No. Demo sales Bulker Tanker 2 1 Container LPG OSV Total demolition sales by count has increased for May 218 compared to May 217. The most notable increase is in the Tanker sector where there has a large increase in the number of vessels scrapped this May. Including 7 VLCCs. The most noticeable decrease in candidates is within the Bulker sector where there has only been 5 sales including 2 Capesizes. Demolition Trend Demolition price trend for Tanker Price India from May 217 May 218. Tanker scrap price 5 USD/LDT Jul 217 Oct 217 Jan 218 Apr 218 Sentiment has remained stable through May, following the dip in April this year. With Pakistan reopening for Tankers in late April, there have been further deliveries throughout May. Pakistan is still remaining strict on gas free for hot work certificates to be confirmed prior to beachings. info@

16 CHARTER RATES Dry Baltic Exchange daily market spot rates for Capesize, Panamax, Supramax and Handy Bulkers from 1st May st May 218. Source: Baltic Exchange Capesize Panamax Supramax Handy 35, (USD per day) 3, 25, 2, 15, 1, 5, Jul 217 Oct 217 Jan 218 Apr 218 Capesize rates have softened significantly from USD 2,646/day to USD 11,723/day towards the end of the month. Panamax rates remained softened slightly throughout May to roughly USD 9,348/day. Supramax and Handysize rates also remained stable throughout May. Wet Baltic Exchange daily market spot rates for VLCC, Suezmax and Aframax Tankers from 1st May st May 218. Source: Baltic Exchange VLCC Suezmax Aframax 25, (USD per day) 2, 15, 1, 5, -5, Jul 217 Oct 217 Jan 218 Apr 218 VLCC rates have remained at very low levels throughout May, although rates have firmed from USD -6,314/day to USD -1,821/day. Suezmax rates firmed during May from USD 7,674/day to USD 12,117/day. Aframax rates firmed from USD 1,623/day, peaking at USD 1,591/day in mid-may, before ending the month at USD 6,826/day.

17 CHARTER RATES Container Contex daily time charter rates for Panamax, Handysize and Feedermax Containers from 1st May st May 218. Source: Contex, VHSS Panamax Handy Feedermax 14, (USD per day) 12, 1, 8, 6, 4, 2, Jul 217 Oct 217 Jan 218 Apr 218 Rates firmed for Panamaxes and Handy containers with the most significant firming taking place in May. Feedermax rates have stabilised throughout May. LPG Fearnleys weekly market spot rates for VLGC, MGC and LEG Gas ships from 1st May st May 218. Source: Fearnley's VLGC MGC LEG (Thousand USD per month) Jul 217 Oct 217 Jan 218 Apr 218 VLGC rates have firmed dramatically throughout May, from USD 225,/day to USD 48,/day. Rates remained stable for the MGC and LEG gas vessels throughout May 218. info@