LY MARKET REPORT June 10th, 2011 / Week 23 With capesizes once again on the decline (BCI down over 10% for the week) the BDI lost nearly 5% to close just over 1400 points. The gain of the BPI which climbed 7.5% was not enough to offset the losses of the capesize segment as well as the handy (BHSI) and supramax (BSI) sectors, both of which fell around 2% and 6% respectively. The panamax market found support from coal cargoes from Australia and Indonesia loading for China although the gains where not as extensive as the owners would have wanted because of the slower grain activity coming out of South America. Given the fact that the dry market depends so much on the Chinese imports, all eyes are on the Chinese economy and whether it is showing signs that it is slowing down. Although not many sales are reported, activity remains relatively high. There is a constant flow of enquiries in the dry bulk sector, most of which coming out of the Far East and S.E Asia and mainly for the handymax/panamax sector. On the smaller handysize vessels, Greek buyers seem to be more active and we are reporting two deals for mid/late 90's tonnage which have been sold to Greeks. The MV NEW NIKKI (26,428 dwt / blt 1995 Japan) has been sold for US$ 13.80 million to Greeks, as well as the MV ANSAC ASIA (33,945 dwt / blt 1998 Japan) also sold to Greeks for region US$ 17 million. In the tanker sector the modern lr-2 aframax MT LAURA (113,041 dwt / blt 2009 New Times China) only managed to achieve US$ 41.50 million. As a comparison, in October last year Scorpio had purchased the sistership Atlantic Spirit (113,091 dwt / blt 2008 New Times China) for US$.50 million. In contrast, the Greek owners of the MT SEAPRIDE I (109,030 dwt / blt 1999 Dalian China) managed to achieve a firm price by selling the vessel to Italians for US$ 25 million. Newbuilding activity is very thin with few new orders to report. In contrast, the demolition market continues to take out elderly bulkers from the market and this week we are reporting another 4 capesizes sold for scrap. We notice that this week only India and Bangladesh have been active in the demolition market with Bangladesh paying slightly higher price levels. WeberSeas, Weekly Market Report Page 1 of 10
TANKERS LAURA 113,041/09 - NEW TIMES - B&W 21,509 - COATED - COILED - SBT - IGS - COW - DH SS 02/2014, DD 02/2012 Sold for $41.5 mill. to Singapore based buyers (Tanker Pacific). TORM MARIE 109,672/06 - DALIAN - WARTSILA 20,747 - COATED - COILED - SBT - IGS - COW DH - SS/DD 06/2011 Sold for $46 mill. nett to U.S. based buyers (First Ship Lease Trust). Sale includes bareboat charter back to Torm for 7 years. TORM MARGRETHE 109,672/06 - DALIAN - WARTSILA 20,747 - COATED - COILED - SBT - IGS COW - DH - SS/DD 06/2011 Sold for $46 mill. nett to U.S. based buyers (First Ship Lease Trust). Sale includes bareboat charter back to Torm for 7 years. SEAPRIDE I 109,030/99 - DALIAN - SUL 21,128 - COATED - COILED - SBT - IGS - COW - DH SS/DD 01/2014 Sold for $25 mill. to Italian buyers (PB Tankers). HUNTER 22,700/83 - DAEWOO - B&W 10,500 - ST.ST. COATING - COILED - SBT - IGS - DH Sold for $9.9 mill. to S. Korean buyers. GOLDEN MIA 19,702/08 - FUKUOKA - MIT 8,470 - ST.ST. COATING - COILED - SBT - IGS - DH SS 09/2013, DD 09/2011 Sold for $28.25 mill. to Norwegian buyers (Utkilen). BERGEN TROLL 1,865/90 - YUGOSLAVIA - NORMO 1,550 - COATED - COILED - SBT - IGS - SH SS 08/2015, DD 10/2013 Sold for $3 mill. to Russian buyers (Ramawa). BULKERS BLUE CORAL 64,442/84 - HITACHI - B&W 11,750-7HH - SS 06/2013, DD 04/2013 Sold for $7.7 mill. to Chinese buyers. LOS ANDES 46,769/01 - KURUSHIMA - MIT 10,179-5HH - C 4X30T Sold for excess $20 mill. to Japanese buyers. PAN AMBITION 38,8/90 - IHI - SUL 7,901-5HH - C 4X25T - SS 10/2015, DD 09/2013 Sold for high $11 mill. to Middle Eastern buyers. ANSAC ASIA 33,945/98 - KANDA KAWAJIRI - B&W 9,701-5HH - C 4X30T - SS/DD 03/2013 Sold for region $17 mill. to Greek buyers. ORHAN EKINCI 37,607/82 - OSAKA - B&W 12,000-5HH - C 5X25T - SS 10/2015, DD 10/2013 Sold for $4.2 mill. to Chinese buyers. NEW NIKKI 26,428/95 - HAKODATE - MIT 7,800-5HH - C 4X30.5T - SS 07/2015, DD 06/2013 Sold for $13.8 mill. to Greek buyers. WeberSeas, Weekly Market Report Page 2 of 10
FRESH FOR SALE TANKERS PACIFIC AMBER 46,878/93 - HALLA - B&W 10,147 - COATED - COILED - SBT - IGS - COW - DH Vessel will be inspectable in Mombassa, Kenya until next week. BULK CARRIERS BEGONIA 180,265/05 - IMABARI - B&W 25,329-9HH Vessel will be inspectable in Dalrymple Bay, Australia, where ETA 14th June. RUBIN POWER 72,326/96 - SASEBO - B&W 12,001-7HH Vessel will be inspectable in Zhousan, China on 17th June. LUCKY STAR 65,767/84 - SASEBO - SUL 17,518-7HH Vessel currently inspectable in Ho Chi Minh, Vietnam until 12th June. ARCTUROS 57,000/11 - TAIZHOU - B&W 13,542-5HH - C 4X30T NORSUL RECIFE 45,384/85 - BRAZIL - B&W 10,875-6HH - C 3X25T Vessel will be inspectable North Brazil within June. SINO NORTH 25,088/85 - GERMANY - B&W 15,010-3HH - C 2X50T Vessel will be inspectable Zhangjiagang, China, where ETA 4th July. VENUS FRONTIER 23,956/96 - KANDA KAWAJIRI - B&W 8,130-4HH - C 4X30T Vessel will be inspectable Japan on about 20th June. WeberSeas, Weekly Market Report Page 3 of 10
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2011 THIS DATE 2010 2010 TOTAL 2009 TOTAL ULCC/VLCC 6 11 14 10 SUEZMAX 0 4 10 5 AFRAMAX 5 5 14 12 PANAMAX TANKER 1 6 10 8 CAPE/COMBO (100,000 dwt +) 40 4 15 5 PANAMAX/KAMSARMAX BULKER 21 2 6 21 LOCATION TANKERS BULK CARRIERS CHINA 465 455 INDIA 5 505 BANGLADESH 540 0 PAKISTAN 515 505 DEMOLITION: INDIA M/V JAPAN PLATANUS M/V SPARROW M/V KS HOPE CONT NEFELI M/V ARENA 149,986/87-20,422 LDT - USD 501/LDT 139,779/84-21,484 LDT - USD 0/LDT 35,112/78-7,886 LDT - USD 510/LDT 25,745/81-12,498 LDT - USD 508/LDT 4,390/78-1,744 LDT - USD 494/LDT BANGLADESH M/V HEBEI INNOVATOR M/V BRAZIL STAR M/V MIN FU 236,697/86-35,641 LDT - USD 530/LDT 201,227/83-24,891 LDT - USD 5/LDT 44,750/78-9,230 LDT - USD 510/LDT RO-RO BALTIC LEADER 10,449/82-8,901 LDT - USD 540/LDT - as is Singapore (including 250 tonnes of bunkers ROB, 843 tonnes of permanent ballast) WeberSeas, Weekly Market Report Page 4 of 10
TYPE OF SHIP NEWBUILDING STATISTICS 2011 2012 2013 2014 * TOTAL ORDERBOOK ULCC/VLCC 46 56 38 11 151 SUEZMAX 37 59 28 124 AFRAMAX 55 48 22 2 127 PANAMAX 19 15 26 7 67 MR 64 74 41 5 184 10-35,000 DWT 116 70 13 2 201 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 205 224 63 14 506 177 302 85 25 589 PANAMAX 84 83 35 202 SUPRAMAX / HANDYMAX 301 307 94 702 HANDYSIZE 274 257 89 14 634 * Includes ALL vessels on order NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 1 37,000 dwt Bulker 2 28,000 dwt Bulker 3 14,200 dwt General Cargo Hyundai Mipo Zhejiang Changhong Shipbuilding Sekwang Shipbuilding n/a n/a Samin Shipping 2012 n/a CSC Phoenix 2012/13 $22 Arklow Shipping + 1 option (order transfer from Mokpo Shipbuilding) 1 53,000 dwt Tanker Guangzhou Shipyard International 2012/13 $32 Rederi AB Gotland + 1 option 2 4,700 teu Container Samjin Shipbuilding 2013 $60 Reederei Horst Zeppenfeld + 2 options (ballast water treatment - equipped) WeberSeas, Weekly Market Report Page 5 of 10
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 1418 1489-71 -4.77% Baltic Capesize 1735 1939-204 -10.% Baltic Panamax 1927 1791 136 7.59% Baltic Supramax 1348 1435-87 -6.06% Baltic Handysize 749 765-16 -2.09% 14000 12000 10000 8000 6000 4000 2000 0 4-Jan-05 4-Apr-05 25000 20000 15000 10000 5000 0 4-Jan-05 4-Apr-05 14000 12000 10000 8000 6000 4000 2000 0 18-Jan-05 18-Apr-05 4-Jul-05 4-Oct-05 4-Jan-06 4-Apr-06 4-Jul-06 4-Oct-06 4-Jan-07 4-Apr-07 4-Jul-07 4-Oct-07 4-Jan-08 4-Apr-08 4-Jul-08 4-Jul-05 4-Oct-05 4-Jan-06 4-Apr-06 4-Jul-06 4-Oct-06 4-Jan-07 4-Apr-07 4-Jul-07 4-Oct-07 4-Jan-08 4-Apr-08 18-Jul-05 18-Oct-05 18-Jan-06 18-Apr-06 18-Jul-06 18-Oct-06 18-Jan-07 18-Apr-07 18-Jul-07 18-Oct-07 18-Jan-08 18-Apr-08 4-Oct-08 4-Jan-09 4-Apr-09 4-Jul-09 4-Oct-09 4-Jan-10 4-Apr-10 4-Jul-10 4-Oct-10 4-Jan-11 4-Apr-11 WeberSeas, Weekly Market Report Page 6 of 10 BCI BPI BDI 4-Jul-08 4-Oct-08 4-Jan-09 4-Apr-09 18-Jul-08 18-Oct-08 18-Jan-09 18-Apr-09 4-Jul-09 4-Oct-09 4-Jan-10 4-Apr-10 4-Jul-10 4-Oct-10 4-Jan-11 4-Apr-11 18-Jul-09 18-Oct-09 18-Jan-10 18-Apr-10 18-Jul-10 18-Oct-10 18-Jan-11 18-Apr-11
BALTIC WET EX RATES THIS LAST % Baltic Clean Tanker 658 687-29 -4.22% Baltic Dirty Tanker 732 746-14 -1.88% 2,500 2,000 1,500 1,000 500 0 4-Jan-05 8-Mar-05 13-May-05 2,500 2,000 1,500 1,000 500 0 10-Jan-05 14-Mar-05 19-May-05 18-Jul-05 20-Sep-05 22-Nov-05 1-Feb-06 5-Apr-06 13-Jun-06 15-Aug-06 18-Oct-06 20-Dec-06 1-Mar-07 3-May-07 5-Jul-07 7-Sep-07 9-Nov-07 21/01/2008 27-Mar-08 2-Jun-08 22-Jul-05 26-Sep-05 28-Nov-05 7-Feb-06 11-Apr-06 19-Jun-06 21-Aug-06 24-Oct-06 3-Jan-07 7-Mar-07 9-May-07 11-Jul-07 13-Sep-07 15-Nov-07 25/01/2008 2-Apr-08 6-Jun-08 11-Aug-08 14-Oct-08 23-Dec-08 BCTI 15-Aug-08 20-Oct-08 6-Jan-09 BDTI 4-Mar-09 11-May-09 14-Jul-09 16-Sep-09 18-Nov-09 29-Jan-10 6-Apr-10 10-Jun-10 12-Aug-10 15-Oct-10 17-Dec-10 28-Feb-11 2-May-11 10-Mar-09 15-May-09 20-Jul-09 22-Sep-09 24-Nov-09 4-Feb-10 12-Apr-10 16-Jun-10 18-Aug-10 21-Oct-10 23-Dec-10 4-Mar-11 6-May-11 WeberSeas, Weekly Market Report Page 7 of 10
MAJOR CAPITAL MARKETS INDEX THIS LAST % S HIGH S LOW DOW JONES 12,048.94 12,290.14-241.20-1.96% 12,928.50 9,596.04 NASDAQ 2,684.87 2,773.31-88.44-3.19% 2,887.75 2,061.14 AIM 880.60 878.70 1.90 0.22% 968.30 648.50 NIKKEI 9,467.15 9,555.04-87.89-0.92% 10,891.60 8,227.63 PUBLIC COMPANIES DRY-CARGO SECTOR NAME SYMBOL THIS LAST % HIGH LOW DIANA DSX 10.91 11.35-0.44-3.88% 14.23 10.64 DRYSHIPS DRYS 3.70 3.83-0.13-3.39% 6.44 3.28 EAGLE BULK EGLE 2.50 2.76-0.26-9.42% 5.75 2.48 EXCEL MARITIME EXM 3.08 3.26-0.18-5.% 6.63 3.00 GENCO GNK 6.42 7.46-1.04-13.94% 18.08 6.28 GOLDENPORT HOLDINGS GPRT.L 107.00 109.38-2.38-2.18% 132.00 102.50 NAVIOS HOLDINGS NM 4.92 5.20-0.28-5.38% 6.29 4.38 TANKER/ENERGY SECTOR NAME SYMBOL THIS LAST % HIGH LOW CAPITAL PRODUCT PARTNERS CPLP 8.20 8.98-0.78-8.69% 11.39 7.4 GENERAL MARITIME GMR 1.54 1.78-0.24-13.48% 8.04 1.50 OMEGA NAVIGATION ONAV 0.56 0.76-0.20-26.32% 2.35 0.55 STEALTHGAS GASS 4.43 4.95-0. -10.51% 8.80 3.93 TEN TNP 10.03 10.33-0.30-2.90% 15.83 8.96 NAME SYMBOL CONTAINER SECTOR THIS LAST % HIGH LOW DANAOS DAC 5.69 6.50-0.81-12.46% 7.87 3.50 * Prices reflect Thursday s closing values. Prices in US$ except for Goldenport Holdings which is in GBP. WeberSeas, Weekly Market Report Page 8 of 10
RATES OF EX THIS LAST % Euro / $ 1.4487 1.4489-0.0002-0.01% Sterling / $ 1.6284 1.6320-0.0036-0.22% $ / Yen 80.065 80.625-0.560-0.69% $ / Nok 5.4218 5.3833 0.0385 0.72% $ / Won 1,082.55 1,078.25 4.30 0.40% Brent Crude 119.59 114.93 4.66 4.05% LIBOR (3-month) 0.25% 0.25% 0 0.00% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS VLCC $105.0m $80.0m $63.0m (DH) $20.0m Suezmax $65.0m $55.0m $40.0m (DH) $12.5m Aframax $49.0m $41.0m $32.0m (DH) $9.0m Panamax $45.0m $33.0m $20.0m (DH) $7.0m Product $39.0m $27.0m $17.0m (DH) $4.5m BULK CARRIERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS Capesize $56.0m $45.0m $31.0m $18.0m Panamax/Kamsarmax $40.0m $33.0m $25.0m $14.0m Supramax/Handymax $33.0m $30.0m $22.0m $12.0m * 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 5 YRS VLCC (300,000 dwt) 27,000/D 32,500/D 35,000/D SUEZMAX (150,000 dwt) 21,000/D 25,000/D 27,000/D AFRAMAX (110,00 dwt) 16,250/D 18,500/D 20,000/D PANAMAX (72,000 dwt) 15,500/D 16,750/D 17,500/D MR (45-50,000 dwt) 14,000/D 15,000/D 15,500/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 380cst: $640.00 $666.00 $660.00 $660.00 180cst: $665.00 $694.00 $692.00 $672.00 MGO: $974.00 $1025.00 $991.00 $964.00 WeberSeas, Weekly Market Report Page 9 of 10
WEBERSEAS CONTACTS SALE & PURCHASE MOBILE PHONE NUMBER Babis Mitropoulos 6936-530005 Tom Protonotarios 6936-530006 Nicholas Sfinias 6944-343488 Spyros Karamassis 6945-776757 George Tzavellas 6973-780780 TANKER CHARTERING Basil Mavroleon 6932-644983 Dionysios Mitsotakis 6936-800320 George Karalis 6948-753725 ADMINISTRATION Yannis Mitropoulos 6936-530007 Urania Savvaki 6934-257746 Very Truly Yours, W E B E R S E A S (H E L L A S) S.A. 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. 2011 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 10 of 10