LY MARKET REPORT May 31st, 2013 / Week 22 Apart from the supramax sector which rose marginally (BSI up 1.63%) all other segments lost ground for yet another week. Worst affected was the panamax which lost 7% to close below 800. Overall the BDI ended 2% lower at 809. In the second-hand market in the dry sector we are reporting the sale of a couple of panamax bulkers at strong numbers. Diana Shipping announced that they purchased the SHOYO (76,942 Dwt / Blt 2006 Japan) for a firm US$ 20.25 mill whilst the OCEAN SHANGHAI (76,801 Dwt / Blt 2006 Japan) was sold to fellow Greeks for US$ 19.40 mill. Whilst the focus of Greek buyers remains in the post 2000 built units, the mid 90's vessels are sold to Far Eastern and S.E. Asian buyers. We are reporting the capesize BOSPORUS (150,973 Dwt / Blt 1995 Korea) to Chinese for US$ 9.5 mill and the post-panamax SHOHO (87,996 Dwt / Blt 1995 Japan) has been sold to Chinese for US$ 6.5 mill (only Far Eastern and S.E. Asian buyers inspected this vessel). The handymax ASIAN GLORY (45,194 Dwt / Blt 1996 CSBC Taiwan) was sold for US$ 7.8 mill to Chinese buyers. Finally, in the handysize sector we are reporting the sale of the boxshaped PIONEER STAR (33,540 Dwt / Blt 2004 Japan) for US$ 14.6 mill to Greek buyers. In the tanker sector the focus remains in the MR sector. The PACIFIC OASIS (47,999 Dwt / Blt 2004 Japan) has been sold for a strong level, at US$ 17 mill to Great Eastern of India. The Japanese controlled HIGH ENERGY (46,874 Dwt / Blt 2004 Japan) was sold for US$ 16.4 mill to Greeks. The older ATLANTIC LUTETIA (35,930 Dwt / Blt 1999 Korea) has been committed for US$ 10 mill to undisclosed buyers. Finally, the Japanese controlled vlcc KAIMON II (314,014 Dwt / Blt 2002 Japan) has been sold for US$ 28 mill to Greek buyers. Newbuilding activity continues and this week it is the tanker sector that has seen most of the action, especially the aframax/lr2 segment. Scorpio announced a plethora of orders, 8 x 114,000 Dwt LR-2 aframaxes of which 4 in Samsung, 2 in Daewoo and 2 in Hyundai all for delivery 2015 with a price tag of US$ mill each. In addition 4 x 50,000 Dwt MRs in SPP for delivery 2015 at US$ 32.50 mill each. The oil trader Trafigura has signed for 4 +4 options 50,000 Dwt MTRs in Guangzhou for delivery 2015 at US$ 32 mill each. Greek owners have also placed 2 x 115,000 Dwt aframaxes in Daewoo for delivery 2015 whilst Kyklades Maritime has ordered 2 x 114,000 Dwt LR2's in Hyundai in a deal that will see these ships on 5 year charters to oil major Total at US$ 18,500 per day. In the dry sector, Wisdom Marine of Taiwan has continued to place orders, this time at Tsuneishi for 2 x 82,000 Dwt kamsarmaxes and 2 x 35,000 Dwt handysize bulkers all for delivery in 2015. WeberSeas, Weekly Market Report Page 1 of 11
The Demolition was quiet this week with few sales reported. India was surprisingly absent whilst Bangladesh took one vlcc, a capesize and a panamax bulker all at levels between 420-435. Pakistan took one aframax at 438 whilst China took one handymax at 335. TANKERS KAIMON II 314,014/02 - MITSUI - B&W 41,759 - COILED - SBT - IGS - COW - SBT - DH SS 01/2017, DD 01/2015 Sold for $28 mill to Greek buyers. (Altomare). PACIFIC OASIS 47,999/04 - IWAGI - B&W 12,889 - COATED - COILED - SBT - IGS - COW - DH SS/DD 10/2014 Sold for $17 mill to Indian buyers. (Great Eastern Shipping). HIGH ENERGY 46,874/04 - NAIKAI - B&W 12,889 - COATED - COILED -SBT - IGS- COW - DH SS/DD 06/2014 Sold for $16.4 mill to Greek buyers. HAICHANG DALIAN 38,7/01 - ROMANIA - B&W 11,400 - COATED - COILED - SBT - IGS COW - DH - SS 02/2015, DD 11/2013 Sold at an auction for $3.6 mill to Chinese buyers. ATLANTIC LUTETIA 35,930/99 - DAEDONG - SUL 11,100 - COATED - COILED - SBT - IGS COW - DH - SS/DD 07/2014 Sold for $10 mill to undisclosed buyers. BULKERS BOSPORUS 150,973/95 - DAEWOO - B&W 16,501-9HH - SS 01/2015, DD 05/2013 Sold $9.5 mill to Chinese buyers. SHOHO 87,996/95 - SASEBO - B&W 15,300-5HO, 8HA - SS/DD 09/2014 Sold for $6.5 mill to Chinese buyers. SULAWESI 82,500/13 -WUHU XINLAN - B&W 16,179 Sold for $26 mill to Greek buyers. SHOYO 76,942/06 - NAMURA - B&W 13,501-7HH - SS 09/2016, DD 08/2014 Sold for $20.25 mill to Greek buyers. (Diana Shipping). OCEAN SHANGHAI 76,801/06 - SASEBO - B&W 15,037-7HH - SS 01/2016, DD 11/2013 Sold for $19.4 mill to Greek buyers. EVRIALOS 68,407/87 - NAMURA - SUL 10,201-7HH - SS 03/2017, DD 03/2013 Sold for $4.5 mill to Chinese buyers. ASIAN GLORY 45,194/96 - CSBC - B&W 10,500-5HH - C 4X30T - SS 01/2016, DD 12/2013 Sold for $7.8 mill to Chinese buyers. WeberSeas, Weekly Market Report Page 2 of 11
DAISHIN MARU 38,692/96 - SHIN KURUSHIMA - MIT 9,600-6HH - C 3X14.5T SS 10/2016, DD 10/2014 Sold for $3.7 mill to Chinese buyers. PIONEER STAR 33,540/04 - SHIN KURUSHIMA - MIT 8,498-5HH - C 4X30T - SS/DD 09/2014 Sold for $14.6 mill to Greek buyers. SB ROYAL 28,716/96 - KANASASHI - MIT 8,000-5HH - C 4X30.5T - SS 08/2016, DD 07/2014 Sold for $6.7 mill to Chinese buyers. ORIENTE GRACE 22,020/94 - SAIKI - MIT 7,200-4HH - C 4X30T - SS/DD 06/2014 Sold for $4 mill to Chinese buyers. MPP/TWEENDECKERS SERENADA 3,820/99 - NETHERLANDS - WARTSILA 4,412-1HO, 3HA Sold on private terms to French buyers. CONTAINERS BREMEN BRIDGE 67,170/01 - KOYO MIHARA - B&W 77,776-5,896 TEU Sold on private terms to undisclosed buyers. E.R. BREMEN 34,418/03 - DAEWOO - SUL 29,313 - C 3X45T - 2,496 TEU Sold for $ 11.2 mill to undisclosed buyers. ECHO 12,310/99 - TURKEY - B&W 15,663 - C 2X40T - 1,136 TEU Sold for $1.7 mill to South American buyers. WeberSeas, Weekly Market Report Page 3 of 11
FRESH FOR SALE TANKERS TITAN TULSHYAN 299,718/93 - DAEWOO - B&W 31,922 - COILED - SBT - IGS - COW - DH Vessel presently is in Singapore where can be inspected. TITAN RUCHIRA 284,317/91 - HYUNDAI - B&W 22,447 - COILED - SBT - IGS - COW - DH Vessel presently is in Singapore where can be inspected. KWK ESTEEM 105,342/00 - SAMHO - B&W 16,681 - COILED - SBT - IGS - COW - DH Vessel will be in Singapore for bunkers on 8th-9th June where inspections may allowed. HERMITAGE BRIDGE 47,880/03 - HYUNDAI - B&W 15,037 - COATED - SBT - IGS - COW - DH Vessel will be in Fujairah on 2nd June where can be inspected. ANICHKOV BRIDGE 47,842/03 - HYUNDAI - B&W 15,015 - COATED - SBT - IGS - COW - DH Vessel currently at opl Kerch and then will proceed to Batumi where can be inspected. OKHTA BRIDGE 47,809/04 - HYUNDAI - B&W 15,037 - COATED - SBT - IGS - COW - DH Vessel currently is in Everglades. NARODNY BRIDGE 47,791/03 - HYUNDAI - B&W 15,037 - COATED - SBT - IGS - COW - DH Vessel currently is in Alma, Australia where can be inspected. Then will proceed to Singapore for bunkers. BULKERS MONA RIVER 171,012/00 - NAMURA IMARI - B&W 22,161-9HH Vessel will be in Mundra, India between 5th - 12th June where can be inspected. BRILLIANT SUNRISE 87,144/06 - IHI - SUL 14,004-7HH Vessel can be inspected in Tanjung Bara, Indonesia between 4th - 9th June and in Matsushima, Japan from 17th June to 20th June. POWER STEEL 74,443/99 - SASEBO - B&W 12,699-7HH Vessel en route to China where can be inspected. LEGATO 72,083/99 - KANASASHI - MIT 12,601-7HH Vessel will be in Kakogawa, Japan and can inspected around 10th June. VITAPRIDE 69,153/93 - IMABARI - SUL 13,930-7HH Vessel is prompt inspectable in China at Cosco Guang Dong S/Y Guangzhou till 6th-8th June. SPAR LEO 65,850/89 - NAMURA IMARI - SUL 10,451-7HH Vessel will be inspectable in Taboneo, Indonesia on 5th June. DARYA SHAKTI 56,060/04 - MITSUI - B&W 12,889-5HH - 4X30.5T Vessel will be in Dinapigue on 4th June until 9th June and then in China between 14th - 18th June. WeberSeas, Weekly Market Report Page 4 of 11
GENMAR 35,000/11 - LIANYUNGANG - B&W 8,810-8HH - C 4X30T Vessel is en route to South Korea with ETA Kwangyang 11th June where can be inspected. VALENTE VENUS 28,401/08 - NAIKAI - B&W 7,043-4HH - C 3X30T Vessel can be inspected in Saganoseki between 4th - 8th June and then in Singapore from 17th to 21st June. DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2013 THIS DATE 2012 2012 TOTAL 2011 TOTAL ULCC/VLCC 5 5 14 14 SUEZMAX 3 6 15 4 AFRAMAX 10 15 29 24 PANAMAX TANKER 3 1 3 5 CAPE/COMBO (100,000 dwt +) 25 28 68 60 PANAMAX/KAMSARMAX BULKER 19 44 101 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: BANGLADESH M/T UNIVERSAL HOPE (Including 1200 tons bunkers ROB) M/V OCEAN MIRA M/V VELOS 299,700/93-40,970 LDT - USD 435/LDT - as is Ningbo 151,418/90-17,618 LDT - USD 425/LDT 65,702/91-11,958 LDT - USD 420/LDT PAKISTAN M/T SEMERU 95,618/91-14,158 LDT - USD 438/LDT - as is Singapore CHINA M/V HUA HONG 41,502/83-8,926 LDT - USD 335/LDT TURKEY REEF NEERLANDIC 5,326/85-2,346 LDT sold on private terms. WeberSeas, Weekly Market Report Page 5 of 11
TYPE OF SHIP NEWBUILDING STATISTICS 2013 2014 2015 2016 * TOTAL ORDERBOOK ULCC/VLCC 31 29 4 1 65 SUEZMAX 22 16 10 4 AFRAMAX 16 44 39 14 113 PANAMAX 21 35 23 3 82 MR 70 130 61 11 272 10-35,000 DWT 62 34 18 114 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 90 78 23 191 122 112 29 5 268 PANAMAX 97 33 2 132 SUPRAMAX / HANDYMAX 185 119 30 8 342 HANDYSIZE 165 140 67 5 377 WeberSeas, Weekly Market Report Page 6 of 11
NEWBUILDING CONTRACTS No Size Type Yard Delivery 2 115,000 dwt Tanker Daewoo 2015 n/a 4 114,000 dwt Tanker 2 114,000 dwt Tanker 2 114,000 dwt Tanker 2 114,000 dwt Tanker Samsung H.I. Hyundai Samho Daewoo Hyundai H.I. 2015 $.00 2015 $.00 2015 $.00 2015 n/a 4 50,000 dwt Tanker SPP 2015 $32.50 4 50,000 dwt Tanker 2 50,000 dwt Tanker Guangzhou Hyundai Vinashin Price (mill) Owners Comments Flagship Marine Scorpio Tankers Inc. Scorpio Tankers Inc. Scorpio Tankers Inc. Kyklades Maritime Scorpio Tankers Inc. +2 options LR2 vessels LR2 vessels LR2 vessels LR2 vessels. 5 years T/C to Total at $18,500/day 2015 $32.00 Trafigura +4 options 2014 $29.00 D Amico +2 options 1 28,000 cbm LNG Cosco 2015 $81.50 Cosco Corp 2 180,000 dwt Bulker SWS 2016 $47.50 JMK Blumenthal 2 82,000 dwt Bulker Tsuneishi 2015 n/a Wisdom Marine Line 3 57,000 dwt Bulker Hyundai Vinashin 2015/16 $27.50 Greek buyers 2 35,000 dwt Bulker Tsuneishi 2015 n/a Wisdom Marine Line 2 8,800 teu Container Jinhai 2015/16 n/a SinOceanic Shipping WeberSeas, Weekly Market Report Page 7 of 11
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 809 826-17 -2.06% Baltic Capesize 1336 1350-14 -1.04% Baltic Panamax 795 854-59 -6.91% Baltic Supramax 871 857 14 1.63% Baltic Handysize 533 546-13 -2.38% 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 31-May-09 31-Jul-09 30-Sep-09 30-Nov-09 31-Jan-10 31-Mar-10 31-May-10 31-Jul-10 30-Sep-10 30-Nov-10 31-Jan-11 31-Mar-11 B D I 31-May-11 31-Jul-11 30-Sep-11 30-Nov-11 31-Jan-12 31-Mar-12 31-May-12 31-Jul-12 30-Sep-12 30-Nov-12 31-Jan-13 31-Mar-13 31-May-13 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 31-May-09 31-Jul-09 30-Sep-09 30-Nov-09 31-Jan-10 31-Mar-10 31-May-10 31-Jul-10 30-Sep-10 30-Nov-10 31-Jan-11 31-Mar-11 31-May-11 31-Jul-11 30-Sep-11 30-Nov-11 31-Jan-12 31-Mar-12 31-May-12 31-Jul-12 30-Sep-12 30-Nov-12 31-Jan-13 31-Mar-13 31-May-13 B C I 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 31-May-09 31-Jul-09 30-Sep-09 30-Nov-09 31-Jan-10 31-Mar-10 31-May-10 31-Jul-10 30-Sep-10 30-Nov-10 31-Jan-11 31-Mar-11 31-May-11 B P I 31-Jul-11 30-Sep-11 30-Nov-11 31-Jan-12 31-Mar-12 31-May-12 31-Jul-12 30-Sep-12 30-Nov-12 31-Jan-13 31-Mar-13 31-May-13 WeberSeas, Weekly Market Report Page 8 of 11
Baltic Clean Tanker Baltic Dirty Tanker BALTIC WET EX RATES THIS LAST % 589 594-5 -0.84% 612 606 6 0.99% 1000 900 800 700 600 500 400 300 200 100 0 31-May-09 31-Jul-09 30-Sep-09 30-Nov-09 31-Jan-10 31-Mar-10 31-May-10 31-Jul-10 30-Sep-10 30-Nov-10 31-Jan-11 31-Mar-11 31-May-11 BCTI 31-Jul-11 30-Sep-11 30-Nov-11 31-Jan-12 31-Mar-12 31-May-12 31-Jul-12 30-Sep-12 30-Nov-12 31-Jan-13 31-Mar-13 31-May-13 1400 1200 1000 800 600 400 200 0 31-May-09 31-Jul-09 30-Sep-09 30-Nov-09 31-Jan-10 31-Mar-10 31-May-10 31-Jul-10 30-Sep-10 30-Nov-10 31-Jan-11 31-Mar-11 31-May-11 31-Jul-11 30-Sep-11 30-Nov-11 31-Jan-12 31-Mar-12 31-May-12 31-Jul-12 30-Sep-12 30-Nov-12 31-Jan-13 31-Mar-13 31-May-13 BDTI WeberSeas, Weekly Market Report Page 9 of 11
MAJOR CAPITAL MARKETS INDEX THIS LAST % S HIGH S LOW DOW JONES 15,324.53 15,233.22 91.31 0.60% 15,542.40 12.035.10 NASDAQ 3,499.05 3,480.82 18.23 0.% 3,532.04 2,726.68 AIM 730.40 725.2 5.20 0.72% 754.20 681.60 NIKKEI 13,589.03 15,138.12-1,549.09-10.23% 15,942.60 8,238.96 PUBLIC COMPANIES DRY-CARGO SECTOR NAME SYMBOL THIS LAST % HIGH LOW DIANA DSX 10.28 10.23 0.05 0.49% 11.09 5.89 DRYSHIPS DRYS 1.85 1.91-0.06-3.14% 2.74 1.46 EAGLE BULK EGLE 4.35 4.63-0.28-6.05% 5.96 1.32 EXCEL MARITIME EXM 0.55 0.56-0.01-1.79% 1.30 0.36 GENCO GNK 1.63 1.77-0.14-7.91% 4.54 1.12 GOLDENPORT HOLDINGS GPRT.L 36.00 38.50-2.50-6.49% 67.00 33.01 NAVIOS HOLDINGS NM 5.46 5.04 0.42 8.33% 5.70 3.16 NAME SYMBOL TANKER/ENERGY SECTOR THIS LAST % HIGH LOW CAPITAL PRODUCT PARTNERS CPLP 9.14 9.13 0.01 0.11% 9.50 5.79 STEALTHGAS GASS 10.37 9.89 0.48 4.85% 12.10 5.17 TEN TNP 4.99 4.20 0.79 18.81% 6.29 3.04 NAME SYMBOL CONTAINER SECTOR THIS LAST % HIGH LOW DANAOS DAC 4.28 4.00 0.28 7.00% 4.73 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 / $ 1.2965 1.29 0.0013 0.10% Sterling / $ 1.5167 1.5124 0.0043 0.28% $ / Yen 100.977 101.040-0.064-0.06% $ / Nok 5.8745 5.8159 0.06 1.01% $ / Won 1,131.65 1,127.05 4.60 0.41% Brent Crude 101.09 101.77-0.68-0.67% LIBOR (3-month) 0.27% 0.27% 0 0.00% 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) 18.000/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: $575.00 $601.00 $597.00 $597.00 180cst: $599.00 $670.00 $626.00 $607.50 MGO: $847.50 $995.00 $888.50 $860.00 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