WEEKLY SHIPPING MARKET REPORT

Transcription

1 WEEKLY SHIPPING MARKET REPORT WEEK 21 (16 th May to 22 nd May 2015) Legal Disclaimer The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up-to-date, Shiptrade Services S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report. Research compiled by: Shiptrade Services S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: Shiptrade Services S.A. Tel st Floor, 110/112 Notara Street Fax Piraeus, Greece

2 Top Stories: Shipping, Commodities & Global Economy Black Sea-Med Suezmax rate at six-month high on scarce vessel availability The cost of sending 140,000 mt crude oil cargoes from the Black Sea to the Mediterranean has spiked to a six-month high on the back of tight vessel availability in the region, shipping sources said. The Black Sea-Med route was assessed Worldscale higher at w135 Tuesday, which equates to $15.54/mt. That was the highest since a $16.81/mt assessment on November 21. An extremely tight position list for loading dates in the first decade of June forced Gazprom to pay w135 to put the Petalidi on subjects for a Novorossiisk-Mediterranean voyage loading June 5. The demurrage on the deal was a relatively high $60,000/day. Despite charterer inquiry in the Black Sea for the end of May and early June not having been unusually high, a tight West African Suezmax market has attracted ballasters and left the Black Sea and the Mediterranean with a severely depleted position list. Shipowner sentiment has been so bullish in West Africa during the past week there was a long stand-off with charterers who attempted to work slowly to take steam out of an overheated market. That ended late Monday afternoon, since when seven ships have been placed on subjects for WAF-loading voyages in the first and second decade of June. Among these, Petrogal was heard to have put the San Saba on subjects at w130 for a WAF- Portugal replacement run on June 3, while Engen reportedly booked the Meltemi at w152.5 for a Kizomba-Durban June 2 voyage. The WAF-UK Continent route, basis 130,000 mt, was assessed w5 higher at w130 Tuesday, with sources saying further gains were likely in coming days as inquiry was still outstanding for the first decade of June. It is incredibly tight in WAF and there is still quite a bit to come for the first decade, said a shipbroker. In addition to a tight West African market, Suezmax charterers in the Black Sea and Mediterranean have also been hampered by an extremely busy Aframax sector. At some Mediterranean ports when Suezmax availability is tight, charterers can split Suezmax stems and load them onto Aframaxes. Sources have said that was not a viable option at present amid a thin Aframax position list in the Mediterranean. Source: Platts India to eclipse China as top coal importer in 2015 India is expected to overtake China as the world s top coal importer in 2015, faster than previously expected, traders and consultants said. India s coal imports should rise to around 200 million tonnes this year, from around 180 million tonnes in 2014, said Mayank Garg, managing director of consultancy Venerable Energy Solutions Managing Director. It s happened much faster than expected because Chinese imports have gone down and prices have gone down price plays a very important role in India. Speaking at the IHS European coal conference, Garg said that Indian imports could rise to 250 million tonnes within three to four years if prices remained around urrent levels. Global coal prices have been depressed in recent years by a glut in supply. There s a possibility of exploding growth of imports if logistical restraints can be managed then the market could explode, Garg said. Meanwhile a fall in Chinese imports has been sharper than had been expected. Earlier this week a Reuters poll showed top coal consumer China s thermal coal imports are expected to drop by 52 million tonnes or around a quarter in 2015, as the country seeks to support its domestic producers and address environmental concerns. International Energy Agency data showed China imported 229 million tonnes of thermal coal, including lignite, in In India everyone has had steady growth, the drop in China was the surprise, a trader said. Source: Reuters (Reporting by Sarah McFarlane; Editing by Ruth Pitchford) Shiptrade Services S.A. Weekly Market Report 2

3 Secondhand Sales Bulk Carriers Sale & Purchase Name Dwt YoB Yard SS Engine Gears Price (mill.) Blue Cho Oyu Daehan, Kr 04/2016 B&W - $29.0 Undisclosed Cecilia Namura, Jpn 06/2019 B&W - $8.75 Buyer Ukrainian (Vista) Million Trader Tsuneishi, Jpn 02/2019 B&W - $9.2 Greek Medi Singapore Universal, Jpn 06/2016 B&W - $12.6 Undisclosed Rose Atalntic Sanoyas, Jpn 07/2015 B&W - $10.8 Greek Tiara Globe Hudong, Chn 04/2018 B&W 4 x 30 T $5.5 Chinese Agia Shin Kurushima, Jpn 03/2019 Mitsubis hi 4 x 25 T $3.5 Chinese Sea Racer Shikoku, Jpn 06/2015 B&W 3 x 30 T $3.5 Turkish Secondhand Sales - Tankers Name Dwt YoB Yard SS Engine Hull Price (mill.) Buyer Flagship Jasmine STX Jinhae 1657 STX Jinhae 1652 STX Jinhae 1658 STX Jinhae 1651 LNG Tenaga Dua LNG Tenaga Lima Daehan, Kr - - DH $ STX Offshore, Kr STX Offshore, Kr STX Offshore, Kr STX Offshore, Kr Dunkerque, Fr - B&W DH - B&W DH - B&W DH - B&W DH - Stal-Laval DH CNIM, Fr - Stal-Laval DH Flagship Iris HMD, Kr 09/2017 B&W DH LPG Gas Scorpio Mitsubishi Nagasaki, Jpn $53.5 (each enbloc) $19.2 (each enbloc) $30.5 (including 6 month tc to Trafigura at usd / day) 12/2015 Mitsubishi DH $39.0 Monaco (Scorpio Tankers) Greek (Prime Marine) Chinese Danish (AP Moller Group) Vietnamese (Truong Phat Loc) Kandilousa HHI, Kr 01/2015 B&W DH $8.3 Undisclosed Iver Expert Halla Eng, Kr 09/2017 B&W DH $8.5 Everrich Kitanihon, Jpn 09/2016 Mitsubishi DH n/a Chinese (Sinochem) Greek (Mare Maritime) Shiptrade Services S.A. Weekly Market Report 3

4 Secondhand Sales Containers Name Teu YoB Yard SS Engine Gear Price (mill.) Buyer Clyde HMD, Kr 11/2016 B&W n/a $16.3 Phoenix Hunter HMD, Kr 04/2020 B&W n/a $14.8 Passat Spring Caledonian Express Tuarus J Antares J Auriga J Hanse Confidence Gdanska Stocznia, Pol Nordseewerke, Ger Peene-Werft, Ger Peene-Werft, Ger Peene-Werft, Ger 08/2016 B&W n/a $14.2 Turkish UK (Borealis Maritime) 09/2016 B&W n/a $14.3 Turkish 11/2017 B&W 2 x 45 T $5.5 02/2017 B&W 2 x 40 T $5.3 10/2016 B&W 2 x 45 T $ Qingshan, Chn 02/2015 B&W n/a n/a Hanse Courage Qingshan, Chn 07/2015 B&W n/a n/a WMS Rotterdam WMS Amstredam WMS Vlissingen Mawei, Chn 06/2016 MAK n/a n/a Mawei, Chn 06/2016 MAK n/a n/a Mawei, Chn 09/2015 MAK n/a n/a Norwegian (Nordic) German (Navalis) German (ER Capital Holding) Filipino Indicative Values - Bulk Carriers Size Prompt Resale 5 years 10 years 15 years Capesize Panamax - Kamsarmax Supramax - Ultramax 28 16, Handysize Indicative Values - Tankers Size Prompt Resale 5 years 10 years 15 years VLCC Suezmax Aframax Panamax MR Shiptrade Services S.A. Weekly Market Report 4

5 Newbuilding Orders - Bulkers Newbuilding & Demolition No Type Dwt Yard Delivery Owner 1 Ultramax Onomichi, Jpn 2018 Triton Navigation Price (mill.) n/a Comments Sumitomo Subsidiary,total 4 on order Newbuilding Orders Tankers No Type Dwt Yard Delivery Owner 1 Suezmax Hyundai Samho, Kr Price (mill.) 2017 Blumenthal $ Suezmax DSME, Kr 2017 Maran Tankers n/a Comments +1 option, conversion from capesize Demolition Sales Vessel Type Built Ldt Dwt Price ($) Country Comments Bergen Max BC Pakistan Charles Martin GC Pakistan Amadeo Tanker As is Argentina Krateros BC Pakistan Meem Tween India Auction Omolon Tween India Auction Indicative Demolition Prices Country Tanker Prices Bulker Prices India Bangladesh Pakistan China Turkey Shiptrade Services S.A. Weekly Market Report 5

6 Baltic Indices (Friday Closing Values) 1 year T/C rates ($/day) Dry Bulk Chartering Index Week 21 Week 20 Change (%) BDI ,60 BCI ,4 BPI ,10 BSI ,16 BHSI Type Size (k dwt) Week 21 Week 20 Change (%) Capesize ,6 Panamax ,10 Supramax ,10 Handysize ,10 Average spot rates ($/day) Type Size (k dwt) Route Week 21 Week 20 Change (%) Capesize Panamax Supramax Handysize F. East - ATL Cont/Med - F. East ,7 F. East RV ,1 TransAtlantic RV ,0 F. East - ATL ,20 ATL - F. East ,90 Pacific RV ,50 TransAtlantic RV ,4 F. East - ATL ,40 ATL - F. East ,10 Pacific RV ,30 TransAtlantic RV ,40 Far East - ATL ,20 ATL - F. East ,15 Pacific RV ,30 TransAtlantic RV ,10 Shiptrade Services S.A. Weekly Market Report 6

7 Exchange Rates Key Indicators & Stock Markets Currency Week 21 Week 20 Change (%) EUR / USD 1,1159 1,1394 2,06 USD / JPY 120,83 119,46 1,15 USD / KRW ,46 USD / NOK 7,52 7,35 2,31 Bunker Prices Commodities Port IFO 380 IFO 180 MGO Piraeus Fujairah Singapore Rotterdam Houston Commodity Week 21 Week 20 Change (%) Brent Crude (BZ) 66,34 66,51 0,26 Natural Gas (NG) 2,96 3,00 1,33 Gold (GC) ,49 Copper 284,10 291,65 2,59 Wheat (W) 527,25 515,00 2,38 Shiptrade Services S.A. Weekly Market Report 7

8 Shipping Stock Prices - Dry Bulk Key Indicators & Stock Markets Company Stock Exchange Week 21 Week 20 Change (%) Baltic Trading Ltd (BALT) NYSE 1,50 1,52 1,32 Diana Shipping Inc (DSX) NASDAQ 6,91 7,00 1,29 Dryships Inc (DRYS) NASDAQ 0,79 0,80 1,25 Euroseas Ltd (ESEA) NASDAQ 0,77 0,77 0,00 Eagle Bulk Shipping Inc (EGLE) NASDAQ 10,57 10,00 5,70 Freeseas Inc (FREESE) NASDAQ 0,07 0,12 41,67 Navios Maritime (NM) NYSE 3,51 3,80 7,63 Navios Maritime PTN (NMM) NYSE 10,79 10,80 0,09 Paragon Shipping Inc (PRGN) NASDAQ 0,83 0,70 18,57 Star Bulk Carriers Corp (SBLK) NASDAQ 3,17 3,48 8,91 Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,69 0,72 4,17 Safe Bulkers Inc (SB) NYSE 3,59 3,68 2,45 Golden Ocean (GOGL) Oslo Bors 4,68 5,21 10,17 Shipping Stock Prices - Wet Company Stock Exchange Week 21 Week 20 Change (%) Capital Product Partners LP (CPLP) NASDAQ 9,01 8,93 0,90 TOP Ships Inc (TOPS) NASDAQ 1,06 1,09 2,75 Tsakos Energy Navigation (TNP) NYSE 9,85 9,55 3,14 Shipping Stock Prices - Other Company Stock Exchange Week 21 Week 20 Change (%) Aegean Maritime Petrol (ANW) NYSE 14,28 14,46 1,24 Danaos Corporation (DAC) NYSE 6,39 6,33 0,95 StealthGas Inc (GASS) NASDAQ 6,58 6,67 1,35 Rio Tinto (RIO) NYSE 44,97 46,36 3,00 Vale (VALE) NYSE 6,65 7,13 6,73 ADM Archer Daniels Midland (ADM) NYSE 52,92 52,88 0,08 BHP Billiton (BHP) NYSE 46,28 51,78 10,62 Shiptrade Services S.A. Weekly Market Report 8