LY MARKET REPORT June 28th, 2013 / Week 26 The behavior of the market indices were practically a repeat of last week, with the BCI and the BPI increasing nearly 19% and 9% followed by the BSI and BHSI which rose by around 3% and 2%. Overall the BDI added 144 points this week increasing by 14%. The secondhand market was dominated this week by Pacific Basin who exercised their purchase options on ten handysize bulkers which they had on time charter. The details of the Vessels are outlined in our report but in essence they are all between 28-33,000 Dwt and built between 2001-2004 in Japan and the total price paid for all ten ships was close to US$ 120 mill. Other reported deals in the dry market include the sale of two post panamax bulkers to the same Greek buyers, namely the BRILLIANT SUNRISE and the GLORY POWER (both being sisterships 87,144 Dwt / Blt 2006 Japan), for US$ 19 mill each. Greek buyers also purchased the kamsarmax FLORENCE LILY (82,356 Dwt / Blt 2009 Japan) for US$ 22.7 mill. In the tanker sector, the only notable deal is that PDV Marina have purchased four sistership suezmax tankers all built in 2011 Samsung on a bareboat hire-purchase agreement over 6 years, each worth around US$ 58 mill. In the newbuilding market a couple of aframaxes have been booked in Namura and Sumitomo. A capesize has been ordered in SWS for US$ 46.80 mill basis delivery in 2015 and Wisdom Marine Lines has ordered another supramax in Tsuneishi Cebu at US$ 27.5 mill with delivery in 2015. We are also reporting a number of containers. Activity in the demolition has slowed this week with few deals reported. India took a VLCC at 440 and a handy bulker at 407. China took a small container just below 300 whilst Bangladesh took a handysize at 410. WeberSeas, Weekly Market Report Page 1 of 11
TANKERS AMARYLIS 158,777/11 - SAMSUNG - B&W 25,370 - COILED - SBT - IGS - COW - DH MELODIA 158,671/11 - SAMSUNG - B&W 25,370 - COILED - SBT - IGS - COW - DH MELITA 158,,658/11 - SAMSUNG - B&W 25,370 - COILED - SBT - IGS - COW - DH ANEMOME 158,589/11 - SAMSUNG - B&W 25,370 - COILED - SBT - IGS - COW - DH Sold en bloc for $58 mill each to Venezuelan buyers. (PDV Marina).This is a bareboat hire purchase deal. AUVA 37,538/13 - HYUNDAI - B&W 11,257 - COATE - COILED - SBT - IGS - DH Sold for $30.5 mill to undisclosed buyers. LPG OCEAN PRISM 8,587/07 - SEKWANG - B&W 8,043-7,883 CBM Sold for $27 mill to Chinese buyers. (Sino Gas). LPG SAKURA HARMONY 3,147/06 - MIURA - HANSHIN 3,600-3,441 CBM Sold on private terms to Japanese buyers. BULKERS MONA RIVER 171,012/00 - NAMURA - B&W 22,161-9HH - SS 12/2015, DD 01/2014 Sold for $16.4 mill to undisclosed buyers. BRILLIANT SUNRISE 87,144/06 - IHI - SULZER 14,004-7HH - SS 08/2016, DD 06/2014 Sold for $19 mill to Greek buyers (Third Millenium). GLORY POWER 87,144/06 - IHI - SULZER 14,004-7HH - SS/DD 11/2016 Sold for $19 mill to Greek buyers (Third Millenium). FLORENCE LILY 82,356/09 - OSHIMA - B&W 12,750-7HH - SS/DD 02/2014 Sold for $22.7 mill to Greek buyers. DARYA SHAKTI 56,060/04 - MITSUI - B&W 12,889-5HH - C 4X30.5T - SS/DD 09/2014 Sold for $18.1 mill to undisclosed buyers. SUN RUBY 32,754/04 - KANDA - MIT 9,001-5HH - C 4X30.5T BLACK FOREST 32,751/03 - KANDA - MIT 9,001-5HH - C 4X30.5T COOK STRAIT 31,894/04 - HAKODATE - MIT 9,300-5HH - C 4X30.5T MOUNT TRAVERS 28,484/02 - IMABARI - B&W 7,954-5HH - C 4X30.5T CAPE FLATTERY 28,433/04 - IMABARI - B&W 7,954-5HH - C 4X30.5T Sold for $11.5, 11.2, 11.5, 10.6, 11.5 mill respectively to Hong Kong based buyers. (Pacific Basin). Buyers had the vessels on charter with purchase options which they exercised. WeberSeas, Weekly Market Report Page 2 of 11
PORT PEGASUS 32,773/04 - KANDA - MIT 9,001-5HH - C 4X30.5T TIMARU STAR 31,893/04 - HAKODATE - MIT 9,300-5HH - C 4X30.5T OCEAN EXPORTER 28,461/02 - IMABARI - B&W 7,954-5HH - C 4X30.5T CAPE NELSON 28,438/01 - KANDA - MIT 8,000-5HH - C 4X30.5T ALBANY SOUND 28,379/02 - IMABARI - MIT 7,954-5HH - C 4X30.5T Sold for $12.9/12.9/12.3/12.1/12.3 mill respectively to Hong Kong based buyers. (Pacific Basin). Buyers had the vessels on charter with purchase options which they exercised. MPP/TWEENDECKERS NATACHA C 10,621/03 - NETHERLANDS - MAK 5,873-2HH - C 2X60T - SS 01/2018, DD 11/2015 Sold for $7.4 mill to undisclosed buyers. CONTAINERS MARE SUPERUM,329/98 - HYUNDAI - SULZER 49,593-7HO 14HA - 4,038 TEU Sold on private terms to Greek buyers and fixed on bareboat charter to MSC. MEDBAY 11,810/06 - YANGFAN - B&W 13,0 - C 2X45T - 966 TEU Sold at an auction for $8.7 mill to Singaporean buyers. WeberSeas, Weekly Market Report Page 3 of 11
FRESH FOR SALE TANKERS SIKINOS 150,709/00 -NKK - SULZER 22,379 - COILED - SBT - IGS - COW - DH Vessel is currently in Houston where can be inspected. HELLESPONT TATINA 105,535/99 - SUMITOMO - SUL 16,314 - COILED - SBT - IGS - COW - DH Vessel can be inspected in Singapore where ETA 7th July. KWK ESTEEM 105,342/00 - SAMHO - B&W 16,681 - COILED - SBT - IGS - COW - DH Vessel is currently in Malaysia and then will proceed New Zealand where can be inspected. BULKERS ZHENG JIE 269,101/92 - KAWASAKI - B&W 28,002-8HH Vessel is in Brazil where inspection can be arranged. JINHAI J0047 79,600/13 - JINHAI - B&W 15,363-7HH The sea trials are arranged on 3rd July. C.S. QUEEN 72,465/98 - SASEBO - B&W 12,001-7HH Vessel currently is in New Castle, Australia and then in Iyomishima, Japan on 20th July where inspectable. TOKIWA GLORY 55,742/06 - MITSUI - B&W 12,889-5HH - C 4X30T Vessel can be inspected between 12th-15th July in Kinuura, Japan and between 16th-19th July in Shibushi, Japan. OCEAN MORNING,404/01 - TSUNEISHI - B&W 10,601-5HH - C 4X30T Vessel is currently in Hachinohe, Japan until 3rd July where can be inspected. KEN SHO 23,581/95 - SAIKI - B&W 6,650-4HH - C 4X30T Vessel can be inspected in Ube, Japan on around 5th July. WeberSeas, Weekly Market Report Page 4 of 11
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2013 THIS DATE 2012 2012 TOTAL 2011 TOTAL ULCC/VLCC 6 6 14 14 SUEZMAX 4 7 15 4 AFRAMAX 10 18 29 24 PANAMAX TANKER 3 1 3 5 CAPE/COMBO (100,000 dwt +) 26 35 68 60 PANAMAX/KAMSARMAX BULKER 25 49 101 54 LOCATION TANKERS BULK CARRIERS CHINA 375-395 370-390 INDIA 425-440 400-420 BANGLADESH 420-440 405-425 PAKISTAN 425-440 400-415 DEMOLITION: INDIA M/T DIAMOND JASMINE M/V OCEAN LORD LPG GAS EURASIA LPG LADYSHIP 281,050/99-41,179 LDT - USD 440/LDT 39,132/85-8,050 LDT - USD 407/LDT 3,043/81-1,547 LDT - USD 375/LDT 2,367/80-2,154 LDT - USD 375/LDT CHINA CONT MERKUR BRIDGE 12,575/93-5,248 LDT - USD 295/LDT BANGLADESH M/V XINHUI 37,607/82-7,649 LDT - USD 410/LDT WeberSeas, Weekly Market Report Page 5 of 11
TYPE OF SHIP NEWBUILDING STATISTICS 2013 2014 2015 2016 * TOTAL ORDERBOOK ULCC/VLCC 23 31 5 1 60 SUEZMAX 19 16 13 4 AFRAMAX 15 44 39 15 113 PANAMAX 19 35 23 4 81 MR 59 134 66 17 276 10-35,000 DWT 62 36 18 116 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 83 80 26 189 113 114 32 5 264 PANAMAX 96 34 3 133 SUPRAMAX / HANDYMAX 166 148 58 12 384 HANDYSIZE 141 160 80 5 386 WeberSeas, Weekly Market Report Page 6 of 11
NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 1 114,000 dwt Tanker Namura Shipyard 2016 n/a Tai Chong Cheang 1 107,000 dwt Tanker Sumitomo H.I. 2014/15 n/a Lundqvist Rederierna 1 60,000 cbm LPG Hyundai HI 2015 n/a Solvang 1 180,000 dwt Bulker SWS 2015 $46.80 1 63,800 dwt Bulker Cosco Zhoushan 2015 n/a Chinese Maritime Tranport Lomar Shipping 1 58,000 dwt Bulker Tsuneishi Cebu 2015 $27.50 Wisdom Marine Lines 2 4,350 teu Container Taizhou Kouan 2015 n/a Simatech Shipping +2 options 1 2,190 teu Container Guangzhou Wenchong 2015 n/a Lomar Shipping options declared 2 1,060 teu Container Hyundai Mipo 2014 $18.00 WeberSeas, Weekly Market Report Page 7 of 11
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 1171 1027 144 14.02% Baltic Capesize 2165 1822 343 18.83% Baltic Panamax 1007 927 80 8.63% Baltic Supramax 954 923 31 3.36% Baltic Handysize 564 5 12 2.17% 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 28-Jun-09 28-Aug-09 28-Oct-09 28-Dec-09 28-Feb-10 28-Apr-10 28-Jun-10 28-Aug-10 28-Oct-10 28-Dec-10 28-Feb-11 28-Apr-11 28-Jun-11 28-Aug-11 B D I 28-Oct-11 28-Dec-11 28-Feb-12 28-Apr-12 28-Jun-12 28-Aug-12 28-Oct-12 28-Dec-12 28-Feb-13 28-Apr-13 28-Jun-13 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 28-Jun-09 28-Aug-09 28-Oct-09 28-Dec-09 28-Feb-10 28-Apr-10 28-Jun-10 28-Aug-10 28-Oct-10 28-Dec-10 28-Feb-11 28-Apr-11 28-Jun-11 28-Aug-11 28-Oct-11 28-Dec-11 28-Feb-12 28-Apr-12 28-Jun-12 28-Aug-12 28-Oct-12 28-Dec-12 28-Feb-13 28-Apr-13 28-Jun-13 B C I 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 28-Jun-09 28-Aug-09 28-Oct-09 28-Dec-09 28-Feb-10 28-Apr-10 28-Jun-10 28-Aug-10 28-Oct-10 28-Dec-10 28-Feb-11 28-Apr-11 28-Jun-11 28-Aug-11 B P I 28-Oct-11 28-Dec-11 28-Feb-12 28-Apr-12 28-Jun-12 28-Aug-12 28-Oct-12 28-Dec-12 28-Feb-13 28-Apr-13 28-Jun-13 WeberSeas, Weekly Market Report Page 8 of 11
Baltic Clean Tanker Baltic Dirty Tanker BALTIC WET EX RATES THIS LAST % 561 570-9 -1.58% 577 587-10 -1.70% 1000 900 800 700 600 500 400 300 200 100 0 28-Jun-09 28-Aug-09 28-Oct-09 28-Dec-09 28-Feb-10 28-Apr-10 28-Jun-10 28-Aug-10 28-Oct-10 28-Dec-10 28-Feb-11 28-Apr-11 28-Jun-11 28-Aug-11 BCTI 28-Oct-11 28-Dec-11 28-Feb-12 28-Apr-12 28-Jun-12 28-Aug-12 28-Oct-12 28-Dec-12 28-Feb-13 28-Apr-13 28-Jun-13 1400 1200 1000 800 600 400 200 0 28-Jun-09 28-Aug-09 28-Oct-09 28-Dec-09 28-Feb-10 28-Apr-10 28-Jun-10 28-Aug-10 28-Oct-10 28-Dec-10 28-Feb-11 28-Apr-11 28-Jun-11 28-Aug-11 28-Oct-11 28-Dec-11 28-Feb-12 28-Apr-12 28-Jun-12 28-Aug-12 28-Oct-12 28-Dec-12 28-Feb-13 28-Apr-13 28-Jun-13 BDTI WeberSeas, Weekly Market Report Page 9 of 11
MAJOR CAPITAL MARKETS INDEX THIS LAST % S HIGH S LOW DOW JONES 15,024.49 14,758.32 266.17 1.80% 15,542.40 12,417.50 NASDAQ 3,401.86 3,364.64 37.22 1.11% 3,532.04 2,810.80 AIM 689.10 700.60-11.50-1.64% 754.15 661.61 NIKKEI 13,213.56 13,230.13-16.57-0.13% 15,942.60 8,238.96 PUBLIC COMPANIES DRY-CARGO SECTOR NAME SYMBOL THIS LAST % HIGH LOW DIANA DSX 9.80 9.59 0.21 2.19% 11.09 5.89 DRYSHIPS DRYS 1.77 1.77 0.00 0.00% 2.74 1.46 EAGLE BULK EGLE 3.45 3.43 0.02 0.58% 5.96 1.32 GENCO GNK 1.67 1.45 0.22 15.17% 4.54 1.12 GOLDENPORT HOLDINGS GPRT.L 29.25 30.88-1.63-5.28% 64.50 29.00 NAVIOS HOLDINGS NM 5.26 5.13 0.13 2.53% 5.70 3.22 NAME SYMBOL TANKER/ENERGY SECTOR THIS LAST % HIGH LOW CAPITAL PRODUCT PARTNERS CPLP 9.27 9.06 0.21 2.32% 9.55 5.79 STEALTHGAS GASS 10.25 10. -0.27-2.57% 12.10 5.5 TEN TNP 4.62 4.48 0.14 3.12% 6.19 3.04 NAME SYMBOL CONTAINER SECTOR THIS LAST % HIGH LOW DANAOS DAC 4.20 4.29-0.09-2.10% 4.50 2.43 * Prices reflect Thursday s closing values. Prices in US$ except for Goldenport Holdings which is in GBP. WeberSeas, Weekly Market Report Page 10 of 11
RATES OF EX THIS LAST % Euro / $ 1.3004 1.3151-0.0147-1.12% Sterling / $ 1.5193 1.5399-0.0206-1.34% $ / Yen 99.339 97.659 1.680 1.72% $ / Nok 6.0992 6.0668 0.03 0.53% $ / Won 1,141.60 1,155.96-14.36-1.24% Brent Crude 102.91 100.69 2.22 2.20% LIBOR (3-month) 0.28% 0.27% 0.01 3.70% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS VLCC $80.0m $55.0m $35.0m $20.5m Suezmax $54.0m $42.5m $25.0m $10.5m Aframax $39.0m $28.0m $15.0m $8.0m Panamax $37.0m $25.0m $17.0m $9.0m Product $34.0m $21.5m $14.5m $5.0m BULK CARRIERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS Capesize $40.0m $32.0m $24.0m $8.0m Panamax/Kamsarmax $29.0m $21.0m $13.6m $5.5m Supramax/Handymax $25.0m $21.0m $15.3m $6m * The above values are based and adjusted according only to recent reported sales and are subject to weekly changes. TANKER T/C RATES* 1 YR 3 YRS VLCC (300,000 dwt) 18.250/D 22,000/D SUEZMAX (150,000 dwt) 15,750/D 18.250/D AFRAMAX (110,00 dwt) 13,500/D 15.250/D PANAMAX (72,000 dwt) 14.500/D 15,500/D MR (45-50,000 dwt) 14.000/D 15,000/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 380cst: $572.00 $587.50 $594.00 $577.50 180cst: $597.00 $670.00 $625.00 $595.00 MGO: $876.00 $980.00 $910.50 $884.00 The information contained in this report has been obtained from various market sources. WEBERSEAS (HELLAS) S.A. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. WSH will not be held responsible for any action or failure to take action upon reliance on information contained in this report. 2013 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 11 of 11