MARKET REPORT WEEKS 16 & 17

Transcription

1 MARKET REPORT WEEKS 16 & 17 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 29 th APRIL 2011 Due to the Easter Holidays we have not reported for 2 weeks, however this report primarily deals with the events of last week which was in reality only 4 trading days in those countries celebrating Easter or only 3 days in the UK due to the Royal Wedding last Friday. We expect this week to also be quiet and 'short' owing to May Day holidays today and Golden Week celebrations in much of the Far East. The overall trend of the BDI last week was fairly flat suggesting some stability might have returned since most indices moved only within the +/- 1% or 2% bracket. The BPI moved the most at +5.30%, but then the panamaxes had been the biggest faller in recent weeks. Overall there remains far too much tonnage supply in the Cape / Panamax and Supramax sizes, and obtainable period rates for modern units of same are now only at, or less, than breakeven levels after factoring OPEX + finance costs. S+P activity has continues on a modest scale over the past 2 weeks, predictably mostly within the Far East, whilst the West was celebrating Easter, with the sell off of some of bankrupt Korea Line's tankers featuring. Meantime, two more Korean companies last week filed for bankruptcy and court protection. They are Shipbuilder Sekwang Heavy Industries and chemical tanker owner Samho Shipping, though we understand that Samsung Heavy Industries Ltd. has already started talks to acquire the commercial management and marketing business of Sekwang Heavy Industries Co., Ltd. In the demolition sector it would appear that Bangladesh is slowly 'getting its house in order', but its impending opening to the general market is keeping rates in the subcontinent nice and firm with India paying some rates well in excess of $500 for larger dry tonnage.

2 DIAMOND QUEEN 107,261 05/1998 BLUE SAPPHIRE 105,860 02/2009 HELLESPONT CAPTAIN HELLESPONT CHAMPION 17,000 01/ ,000 03/2012 GLOBAL FLORA 9,273 11/1996 QUEENIE 8,831 11/2003 SEREFE 3,600 11/2008 MIHARA, NAMURA, SEKWANG, S.KOREA SEKWANG, S.KOREA HIGAKI, MURAKAMI, HANGZHOU, CHINA TANKERS HULL DH 18.75M DH 44.50M DH DH P+C P+C MIDDLE EASTERN (BAKRI NAV) KOREAN (HMM) IRISH (ARDMORE SHIPPING OF CORK) IRISH (ARDMORE SHIPPING OF CORK) DH 5.00M THAI DH 11.00M UNDISCLOSED VIA AUCTION IN ROTTERDAM EN BLOC DH 9.10M UNDISCLOSED BUNKERING COMBO GEAR / PUMPS GAS CBM

3 2500 BALTIC TANKER INDICES BDTI 10 BCTI 10 BDTI 11 BCTI Week

4 BULKERS GEAR CAPESIZE / VLOC PANAMAX / POST-PANAMAX MARITIME QUEEN 73,350 01/1994 LOWLANDS SUMIDA 72,493 06/1998 NEW CHAMPION 70,296 07/1996 FLAG TOM 63,866 01/1983 OSHIMA, IMABARI, SANOYAS, SAMSUNG, S.KOREA CR4x30T 18.75M CHINESE GLESS 20.75M GREEK GLESS 16.50M INDONESIAN GLESS 6.20M CHINESE ON SUBS / DELY MAY JUNE 2011 MANY RECOMMENDATI ONS / SS + DD DUE SANKO STREAM 50,655 12/1998 SANKO SPRING 50,655 11/1998 MANDARIN SUN 49,400 12/2004 PARADISE ISLAND 46,513 05/2001 SAMUTRA 44,541 02/1985 FREE ENVOY 26,318 01/1984 HANDYMAX / SUPRAMAX NAMURA, NAMURA, NANTONG, CHINA OSHIMA, AESA, SPAIN KURUSHIMA, HANDIES CR4x30T 19.00M UNDISCLOSED EACH CR4x30T 19.00M UNDISCLOSED CR4x30T 23.50M UNDISCLOSED CR4x30T 21.50M TAIWANESE CR2x25T 4.40M UNDISCLOSED CR4x25T 4.20M CHINESE SMALL BULKERS

5 BALTIC DRY INDICES BDI 11 BCI 11 BPI 11 BSI 11 BHSI 11 BDI 10 BCI 10 BPI 10 BSI 10 BHSI 10 Week

6 INDICATIVE REPORTED FIXTURES RATE CHARTERERS DURATION KM KOBE ,000 12,500$/D SWISS MARINE 6/8 MONTHS CAPE LAMBERT ,000 12,200$/D SINOKOR 3/5 MONTHS ROSCO LITCHI ,153 14,500$/D SINOTRANS 5/7 MONTHS ISMINAKI ,577 15,500$/D CNR 3/5 MONTHS ALPHA HAPPINESS ,893 14,750$/D SWISS MARINE 4/6 MONTHS SPAR LYNX ,565 15,250$/D OLDENDORFF 3/5 MONTHS MARITIME CUATE ,244 14,750$/D CNR 4/6 MONTHS BALTIC DRY INDICES BDI BCI BPI BSI BHSI PREVIOUS WEEK CURRENT WEEK + /

7 TWEEN / MPP / GENERAL CARGO GEAR THOR NAUTILUS 20,456 05/1988 GERMANY CR1x40T 5.10M UNDISCLOSED EACH THOR NEPTUNE 20,377 03/1989 GERMANY CR1x40T 5.10M UNDISCLOSED OCEAN BABY 17,249 07/1984 ISHIKAWAJIMA, CR5x20T 2.70M UNDISCLOSED U APUS 6,839 09/1989 IWAGI, DR4x25T 2.70M CHINESE VAN NIGER 29,277 02/1999 CONTAINER GEAR TEU IMABARI, CR2x40T 2011 P+C USA BASED (SEA CHANGE MARITIME) REEF REEF. CAP/TY GEAR IONIAN KING 7,689 09/1991 PCC/ RORO / PASS ISHIKAWAJIMA, CARS/ LM PAX M ESE

8 TYPE DEMOLITION LDT USD/LT ALSTER N COMBO 305, , BAO TONG HAI BULK 139, , SOLD TO INDIA OR B/DESH B/DESH / INDIA / PAKISTAN OPTION ON DELY OPTION ON DELY PISTIS BULK 75, , INDIA - TINA M BULK 60, , INDIA - NICHOLAS M BULK 40, , INDIA - SETUBAL CASTLE BULK 29, , INDIA - VLADIMIR TIMOFEYEV CHAMPION PACIFIC BULK 14, , INDIA - TANK 38, , BANGLADESH - WASEL TANK 28, , INDIA - CASPER TANK 12, ,274 1,220 INDIA INCL 940 T ST ST TIMAT 1 TANK 6, , BANGLADESH - SEALO I CEME 38, , INDIA - KING FORTUNE TWEEN 24, , INDIA - MANA TWEEN 17, , INDIA - DUCKY SAPPHIRE TWEEN 15, , INDIA - MANDALAY TWEEN 13, , INDIA - HAJ KHALIL TWEEN 8, , INDIA - KANIVU CONT 19, , INDIA - MORNING SHINE RORO 7, , CHINA - COOLER BAY REEF 7, , INDIA - GREEN NEPTUNIC REEF 5, , INDIA -

9 TYPE DELY NEWBUILDINGS BULK 176, SWS 54.20M DRYSHIPS 2 UNITS BULK 87, HUDONG ZHONGHUA 37.50M PASCARI PTE LTD 2 UNITS BULK 82, /14 JINHAI H I P+C BULK 82, JINHAI H I P+C GRAND CHINA LOGISTICS SAFETY MGMT OVERSEAS 12 UNITS 1 UNIT BULK 74, SASEBO P+C DOUN KISEN 1 UNIT BULK 40, TIANJIN XINGANG P+C LOUIS DREYFUS 2 UNITS TANK 155, STX OFFSHORE M GAS 155,000 CUM 2013 SAMSUNG H I P+C EUROPEAN NAVIGATION GASLOG / CERES SHIPPING 2 +2 OPTION / SHUTTLE 2 UNITS / LNG CONT 9,000 TEU 2013/14 DAEWOO MANGALIA 90.00M ZODIAC 4+4 OPTION CONT 6,600 TEU 2013 HANJIN H I 70.00M ZODIAC 4+2 OPTION CONT 5,000 TEU 2012/13 HYUNDAI H I 60.00M CONTAINER CARRIER CORP CONT 3,800 TEU 2013 HANJIN SUBIC 50.00M DELPHIS CONT 2,550 TEU 2013 YANGZIJIANG 40.00M TORVALD KLAVENESS CONT 1,700 TEU 2013 ZHEJIANG OUHUA SHIPBLDNG 5 UNITS 2UNITS/ EXERCISED OPTION 2UNITS/ EXERCISED OPTION 30.00M KLAUS E OLDENDORFF 4+4 OPTION MARKET RATES BRENT GBP USD USD K WON USD YEN EURO USD PREVIOUS WEEK , CURRENT WEEK + / ,