MONTHLY MARKET OVERVIEW

Transcription

1 MONTHLY MARKET OVERVIEW 1st 31st March 217 SUMMARY OF CONTENT Value analysis Second hand S&P activity Newbuilding activity Demolition activity Charter rate analysis

2 BULKER VALUES THROUGH MARCH 217 BULKERS BULKER VALUES HAVE SEEN THE HIGHEST MONTH ON MONTH INCREASE ACROSS ALL AGES AND TYPES SINCE 28. This table shows the monthly % change in value from 1 st to the 31 st March 217 for Bulker vessels, by year of build. YEAR OF BUILD CAPE PMAX SUPRA HANDY D WT DWT DWT DWT +1.3% +17.9% +3.2% +17.4% +14.5% +18.7% +3.9% +17.% +18.8% +19.3% +4.6% +16.5% +23.2% +19.6% +5.4% +15.8% +27.6% +19.9% +6.1% +15.2% +31.8% +2.% +6.9% +14.5% +35.7% +2.1% +7.7% +13.9% +39.1% +2.3% +8.5% +13.1% 55k +41.6% +2.6% +9.3% +12.5% 55k +43.2% +21.1% +1.2% +11.7% 55k +43.7% +21.7% +1.9% +11.% 55k +42.9% +22.5% +11.9% +1.2% 55k +4.7% +23.8% +12.5% +9.5% 55k +37.2% +25.3% +13.5% +8.8% 55k +33.4% +27.% +14.4% +7.9% % +29.2% +15.1% +7.4% 1 info@

3 BULKER VALUES THROUGH MARCH 217 Capesize Values have firmed significantly this month. 13 sales have been concluded this month. The Capesize Dong A Artemis (179,2 DWT, Mar 212, Hyundai Samho Heavy Ind) was sold to Seanergy Maritime Corp for USD 32.3 mil, VV value USD 3.12 mil. The Hanjin Rizhao (179,2 DWT, 21, Hyundai Samho Heavy Ind) and Hanjin Dangjin (179,3 DWT, 21, Hyundai Samho Heavy Ind) sold en bloc to Korea Line Corp for USD 26.5 each, VV value USD 23.5 mil, respectively. In older tonnage, the CE Duke (17, DWT, Nov 21, IHI) and the CE Alliance (172,5 DWT, Jan 21, NKK) sold enbloc to NGM Energy for USD 19 mil, VV value USD mil. Panamax Values have firmed for all sizes. 27 sales have been concluded this month. The BSI Lennox (81,6 DWT, Apr 217, Hudong Zhonghua) sold to Cardiff Marine from Berkeley Shipping for USD 26 mil vs VV value USD 25.1 mil firming values. The Hanjin Port Kamsar (82,2 DWT, Sept 212, Tsuneishi Zosen) and Hanjin Hadong (82,2 DWT, Oct 212, Tadotsu Tsuneishi) sold en bloc to Pan Ocean for USD 21 mil each, VV value USD 19 mil. In older tonnage the Arethusa (75,3 DWT, Feb 21, HSHI) sold for USD 6.5 mil, VV value 5.57 mil. Supramax Values have firmed throughout the month. 18 sales have been concluded this month. Feliz N (57, DWT, April 21, Chengxi) was bought by Nomikos AM for USD 8.7 mil, VV value USD 8.6. Sun Acapulco (55,7 DWT, Jan 26, Oshima) sold for USD 9.8 mil, VV value USD 8.88 mil. Alitis (53,1 DWT, July 22, Imbari) sold for USD 6.85 mil, VV value USD 5.98 mil. Handy Values have firmed for all ages. 13 sales have taken place this month. Audrey Tracy (34,9 DWT, Feb 216, Namura) sold for USD 17.5 mil, VV value USD mil. Clipper Kastoria (32,3 DWT, Oct 211, Jiangmen Nanyang) sold for USD 9.2 mil, VV value USD 8.46 mil. In older tonnage Giza I (31,8 DWT, Sept 22, Hakodate Dock) sold for USD 5.3 mil, VV value USD 5.5 mil. info@

4 TANKER VALUES THROUGH MARCH 217 TANKERS VLCC and Aframax Tanker values have softened throughout the month. MR s values have firmed. This table shows the monthly % change in value from 1 st to the 31 st March 217 for Tanker vessels, by year of build. YEAR OF BUILD VLCC SUEZ AFRA LR1 MR D WT DWT DWT DWT DWT +.2% -.2% +.6% +1.1% % +.5% +1.% % +.% -.5% +.3% +1.% % -.1% -.8% -.% +1.% % -.1% -.5% +.8% % -.2% -1.8% -1.% +.8% 31k 1 -.6% -2.4% +.7% 31k 1 -.6% -3.2% -2.4% +.7% 31k 1 -.7% -.4% -3.9% -3.2% +.5% 31k 1 -.7% -.4% -4.8% -4.1% +.5% 31k 1 -.7% -.5% -5.7% -5.% +.4% 31k 1 -.7% -.5% -6.7% -5.6% +.2% 31k 1 7k 45k -.8% -.6% -7.7% -6.6% +.1% 31k 1 7k 45k -.8% -.6% -8.6% -7.6% +.% 35k 155k 15k 7k 45k -.8% -.6% -9.6% -8.6% -.1% 35k 155k 15k 7k 45k -.9% -.7% -1.6% -9.6% -.2% 35k 155k 15k 7k 45k info@

5 TANKER VALUES THROUGH MARCH 217 VLCC Values have slightly softened across all ages throughout the month. 11 sales have occurred this month. VLCC values have softened due to a drop in VLCC rates throughout the month. The significant deal of the month was the 11 VLCCs sold from BW Maritime to DHT Holdings Inc in a USD 538 mil en bloc deal, including USD mil cash, USD mil debt, and USD 256 mil shares. Suezmax Values have remained stable. 2 sales occurred this month both with undisclosed sale prices. Aframax Values have softened across all ages this month. 1 sales concluded this month. The Gener8 Daphne and Gener8 Elektra (16,6 DWT, Aug/Jun 22, Tsuneishi Zosen) on subs for USD 21 mil, VV combined value of USD 22.9 mil, softening Aframax values. Nissos Anafi (115,7 DWT, Feb 212, Samsung) was offloaded by Kyklades Maritime to TMS tankers for USD 29.1, VV value USD mil. LR1 Values have softened across all ages this month. No sales have taken place within the LR1 sector. MR Values have remained stable this month. 5 sales have taken place this month. The Alam Bakti (48, DWT, July 23, Iwagi Zosen) sold for USD 1 mil. The Mare Caribbean (46,7 DWT, Feb 24, Hyundai Mipo) was bought by Union Maritime for USD 11.4 mil. Small Tanker 5 sales have been concluded this week. info@

6 CONTAINER VALUES THROUGH MARCH 217 CONTAINERS Container values have firmed across the age range. Excluding the feedermax sector where modern tonnage has remained stable while older tonnage softened. This table shows the monthly % change in value from 1 st to the 31 st March 217 for Container vessels, by year of build. YEAR OF BUILD POST PMAX PMAX HANDY FMAX TE U TEU TEU TEU +4.3% +8.2% +.4% +.4% +4.2% +8.% +.3% +.4% +4.4% +8.2% +.2% +.3% +5.1% +8.9% +.1% +.2% +6.3% +1.2% +.% +.1% +8.% +12.% -.1% +.% +1.1% +14.2% -.1% -.1% +12.5% +14.6% -.2% +15.% +14.5% -.2% -.4% +17.7% +14.5% -.4% +14.6% +14.6% -.6% +14.6% +14.6% +14.9% -4.4% +14.5% +14.5% +16.3% -2.5% +14.6% +14.7% +17.7% +14.7% +14.5% +19.1% +2.8% % +14.6% -.6% -.8% info@

7 CONTAINER VALUES THROUGH MARCH 217 Post PMax Values have firmed across all ages. 7 sales have occurred this month. Hanjin Korea (9954 TEU, July 21, Samsung) Hanjin China, Hanjin Netherlands, (9954 TEU, April 211, Samsung) Hanjin Spain and Hanjin United Kingdom (9954 TEU, May 211, Samsung) sold for en bloc USD 165 mil, VV value USD 159 mil. Panamax Values have firmed throughout the month. 7 sales have been concluded this month. ANL Barwon (3534 TEU, Mar 21, Chengxi), Paritici (3534 TEU, Jun 21, Chengxi) and Praia (3534 TEU, Dec 29, Chengxi) were bought by TRF Ship Management enbloc for USD 2.4 mil. Buffalo Hunter (4738 TEU, Aug 25, HHI) was sold to Cyprus Shipping Lines for USD 7.4 mil. Handy Values have remained stable for modern tonnage but firmed for older throughout March. 15 sales have been concluded this month. Feedermax Values have remained stable throughout March. 2 sales have occurred this month. Mare Fox (12 TEU, Aug 23, P+S Werften) sold for USD 4.5 mil. info@

8 LPG VALUES THROUGH MARCH 217 LPG LPG vessels have seen a softening this month apart from SP RF Large. This table shows the monthly % change in value from 1 st to the 31 st March 217 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 -.2% -9.5% 84k 3 12k -.2% -9.5% 84k 3 12k -.% -9.3% 84k 3 12k +.3% -9.1% 84k 3 12k +.7% -8.7% 82k 12k +1.2% -8.2% 82k 9k +1.7% -7.7% 82k 9k +2.4% -7.1% 82k 9k +3.1% -6.5% -1.8% 82k 9k +3.8% -5.9% 82k 9k +4.4% -5.4% 82k +5.% -4.8% -6.1% -4.% 82k +5.6% -4.3% -5.6% -3.5% 7 +6.% -3.8% -5.3% -3.% % -3.5% -5.% -2.7% 7-1.8% +6.6% -3.4% -1.9% -1.9% 7 57k info@

9 LPG VALUES THROUGH MARCH 217 VLGC Values have softened throughout March. No sales have been concluded this month. SPFR Values have firmed across March 217. No sales have been concluded this month. Fully Pressurised Values have softened over the past month. 2 sales have been concluded this month. Gas Bangka (35 CBM, Aug 21, Yamanishi Zosen) sold for USD 7 mil, VV value USD 8.61 mil. info@

10 OFFSHORE VALUES THROUGH MARCH 217 OSV Values have continued so soften particularly in the AHTS sector. PSV values remained consistent due to limited S&P activity. This table shows the monthly % change in value from 1 st to the 31 st March 217 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 -2.5% -.7% +1.% -2.4% -6.9% -14.6% 3.6k 1.7k 8.2k 5.5k -2.5% -.8% +.9% -3.5% -9.3% -16.5% 3.6k 1.7k -2.6% -.9% +.8% -4.7% -11.2% -18.2% 3.6k 1.7k -2.7% -.8% +.7% -6.% -13.2% -2.1% 3.4k 1.7k -2.7% -.8% +.7% -7.4% -15.4% -22.1% 5.1k 1.7k -2.4% -.9% +.4% -8.8% -17.3% -24.% k -2.5% -1.1% +.5% -1.2% -19.4% -25.6% % -1.1% +.5% -11.7% -2.7% -27.2% k -2.7% -1.2% +.3% -13.2% -22.1% -28.4% k -2.7% -1.2% +.3% -14.6% -23.1% -29.2% k -2.8% +.4% -16.2% -23.9% -29.9% k -2.8 % -.% -17.7% -24.1% -3.4% k -2.8% +.5% -18.2% -24.1% -3.5% 4. 5k -3.% -.% -2.7% -24.% -29.8% 4. 5k -3.1% -.% -22.2% -23.3% -29.5% 4. 5k -3. % -.% -23.6% -22.1% -28.9% 4.7k 5k info@

11 OFFSHORE VALUES THROUGH MARCH 217 AHTS & AHT Values have softened dramatically this month. 3 AHTS/AHT sales have been concluded in March. The Sanko Energy (16,315 BHP, 211, Keihin) was sold to Eastern Navigation for USD 5.8 mil, VV value USD DOF have signed a management agreement for the Far Shogun (23,664 BHP, Jan 21, Vard Langsten) with an option to purchase. Mermaid Storm (4, BHP, Jan 1994, President Marine) was sold by MMA offshore to an unknown buyer. PSV Values have remained stable. No sales to report this month. info@

12 2ND HAND S&P ACTIVITY MARCH 217 S&P $ Value of 2nd hand sales in March 217 vs March Mar 217 $1,53 Mar 216 Value (M USD) 1 $ $41 $334 4 $184 2 $73 Bulker Tanker $11 Container $ $6 Gas $9 OSV Activity by transaction value is up 218% in March 217 compared to March 216. Bulker transaction values have increased by 163% for March 217. Tanker transaction value has increased USD 534 mil vs March 216. Container transaction value has increased USD 261 mil vs March 216. With only 1 disclosed price within the OSV sector the total transaction value stands at USD 6 mil, down USD 3 mil from March 216. S&P No. Number of 2nd hand sales taken place in March 217 vs March Mar Mar No. Vessels Bulker Tanker Container Gas OSV Sales by number count are up 41% for March 217 compared to March 216. Bulker sales by number are up 15% compared to March last year. Both Tanker and Container sales are higher for March 217 compared to March 216. There have been 3 OSV sales this month with only 1 sale price disclosed. Sales are up for March 217 compared to March 216. info@

13 NEWBUILDING ACTIVITY MARCH 217 VS 216 Newbuilding No. Number of newbuilding orders taken place in March 217 vs March 216. Mar Mar 216 No. New Buildings Bulker Tanker Container Gas OSV Total newbuilding orders are down 18% for March 217 compared to March 216. Tanker newbuilding orders are down 25% compared to March 216. Gas newbuilding orders include 4 X (21, CBM, 219, Hyundai Mipo) LEGs and 1 Large LNG (18, CBM, 219, HHI). No newbuilding orders have been placed for OSV vessels in March 217. info@

14 DEMOLITION ACTIVITY MARCH 217 VS 216 Demolition No. Number of demolition sales per ship type, taken place in March 217 vs March 216. Mar Mar No. Demo sales Bulker 13 5 Tanker 2 Container 1 Gas 2 2 OSV Total demolition sales for all ship types are down 42% for March 217 compared to March 216. Bulker demolition sales are down 64% compared to March last year. No increase or decrease in number of tanker demolition sales for March 217 compared to March OSV vessels have been scrapped this month. info@

15 CHARTER RATES Dry Baltic Exchange daily market spot rates for Capesize, Panamax, Supramax and Handy Bulkers from 1st March st March 217. Source: Baltic Exchange Capesize Panamax Supramax Handy 25, (USD per day) 2, 15, 1, 5, May 216 Aug 216 Nov 216 Feb 217 Capesize rates have firmed considerably over March 217. Rates climbed from $6,829 p/d at the beginning of March to a peak on the 29th March at $19,593 p/d. Panamax, Supramax and Handysize rates have also firmed throughout March. Wet Baltic Exchange daily market spot rates for VLCC, Suezmax and Aframax Tankers from 1st March st March 217. Source: Baltic Exchange VLCC Suezmax Aframax 7, (USD per day) 6, 5, 4, 3, 2, 1, May 216 Aug 216 Nov 216 Feb 217 VLCC rates have softened throughout March 217. Rates halved throughout the month. Suezmax rates have been variable this month. A firming was seen in at the start of March, which subsequently softened and stabilised. Aframax values remained stable until the end of March when a slight softening occurred. info@

16 CHARTER RATES Container Contex daily time charter rates for Panamax, Handysize and Feedermax Containers from 1st March st March 217. Source: Contex, VHSS Panamax Handy Feedermax 1, 9, (USD per day) 8, 7, 6, 5, 4, 3, 2, 1, May 216 Aug 216 Nov 216 Feb 217 All container rates have firmed throughout March, with Panamax most significantly. LPG Fearnleys weekly market spot rates for VLGC, MGC and LEG Gas ships from 1st March st March 217. Source: Fearnleys VLGC MGC LEG (Thousand USD per week) 1,2 1, May 216 Aug 216 Nov 216 Feb 217 VLGC rates have firmed throughout March 217. MGC and LEG rates remain stable. info@