MARKET REPORT WEEK 19&20 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 20 TH MAY 2016. The BDI had gone negative for weeks 19 and 20 basically because the Chinese had completed their (re) stocking of iron ore and coal plus the south American grain and Soya Bean harvests wound down. Those downward movements however were not particularly severe and then last week we saw the BDI move back in positive territory by 25 points or 4% w-o-w. Again, the larger sizes were again the biggest movers with the BCI up +9% and the BPI +3%, while the smaller BSI closed up +1.5% and the BHSI down -1%. Overall we feel that the dry freight market (BDI indexes) is currently floating at about the levels it should be relative to the current major world economies' positions and performances and when also factoring in the severe over tonnaging the dry fleet is still suffering from. Accordingly we do not yet expect any major movements either up nor down for the BDI in the short to medium term. Dry S+P markets have remained fairly active but with a strong preference amongst buyers for Japanese or Korean built tonnage. Since such types remain less available in any volume at present they therefore tend to get bid up slightly on prices especially when more modern vessels are offered for sale. Conversely, the higher numbers of less preferable China built vessels often find they have to reduce price ideas in order to attract buyers, thereby causing the current quite a large price differentials for similar size / age Japanese and Korean built units vs China equivalents. Whilst the general industry prejudice against China built vessels is plain to see, and especially important to recognise by would be buyers who are likely to want to resell their units at any time in the future for further trading, this means there are also some bargains to be had where buyers are careful to select top spec vessels built only by the acknowledged top-tier Chinese shipyards, and especially so if the buyers intention is to keep the vessel until it is eventually recycled. The Wet S+P market seems a little more active recently with a number of second hand vessels changing hands as well as a number on newbuilding orders. In the recycling sector purchasing volumes by sub-continent buyers thankfully remains robust with prices paid remaining stable in the regions of $280s-$290's for dry and over $300 per for tankers and container vessels, but we are seeing a slight slowdown by sub-continent buyers as domestic government financial budget dates approach in the next few weeks. 1
SECOND-HAND SALES TANKERS DH FRONT VANGUARD 300,058 03/1998 HITACHI ARIAKE, DH 24.30M CHINESE FOR STORAGE NEW CORAL 297,580 01/2010 NEW MEDAL 297,556 01/2009 HAMILTON SPIRIT 158,769 06/2009 BERMUDA SPIRIT 158,143 05/2009 MARLIN AMETHYST 49,999 07/2015 SHANGHAI JIANGNAN, SHANGHAI JIANGNAN, HYUNDAI SAMHO, HYUNDAI SAMHO, INTERNATIONAL, DH 60.20M DH 57.30M DH 47.00M NORWEGIAN (FRONTLINE) (CENTROFIN) DH 47.00M P.OPTION DH 35.50M USA BASED (SEA CAPITAL) SIGNAL MAYA 46,843 10/2005 NAIKAI ZOSEN, DH 15.50M (BENETECH) STAVANGER EAGLE 45,898 10/2004 FREJA MAERSK 31,362 08/2001 SHIN KURUSHIMA, HANJIN HEAVY PUSAN, DH 15.50M CHINESE (SHENLONG) DH 11.50M UNDISCLOSED AEGEAN CHAMPION 23,400 12/1991 LINDENAU, GERMANY DH 5.80M MIDDLE EASTERN FAIRCHEM BRONCO 19,776 04/2007 FUKUOKA, DH 20.50M UK BASED GOLDEN CREST 12,898 02/2008 SAMHO SHIP, DH 12.80M N GOLDEN DOMINANCE 12,866 02/2008 SAMHO SHIP, DH 12.80M N INCL 3 YRS T/C ATT @ $15,000PD SECOND-HAND GAS CBM TYPE TYPE SIZE DELY UNITS OPT. TANK 300,000 2017-2018 NANTONG COSCO - K LINE 2 TANK 72,000 2017-2018 DSIC DALIAN, 40.00M UK FUND 6 TO 8 TANK 40,000 OCT 2017 - JAN 2018 HYUNDAI MIPO 40.00M SUPER-ECO TANKERS 2 TANK 11,000 2018 WEIHAI SAMJIN 18.00M OCEAN TANKERS 4 6 TANK 3,500 SEP 2017 DAE SUN SHIPBUILDING HNCC 1 LPG 13,000CBM 2018 JIANGNAN CHANGXING 40.00M HYPROC SHIPPING 1 1 INDEX THIS WEEK LAST WEEK LAST LY LOW LY HIGH LY AVERAGE BDTI 744 732 829 598 1026 803 BCTI 480 477 643 464 845 594 2
BESIKTAS 179,843 10/2011 BESIKTAS TURMENISTAN 179,797 09/2011 SECOND-HAND BULKERS DAEHAN SHIPBUILDING, DAEHAN SHIPBUILDING, - 23.75M UNDISCLOSED - 23.75M KLARA SELMER 175,247 01/2012 NEW TIMES, - 19.50M SA ALTIUS 171,480 03/2001 SRI PREM VEENA 82,792 01/2007 HYUNDAI HEAVY, TSUNEISHI HOLDINGS, (MARMARAS) - 7.80M CHINESE GLESS 9.30M S. N (WOOYANG SHIPPING) GRAND OCEAN 81,622 05/2012 LONGXUE, GLESS 12.40M UNDISCLOSED MIRAERO ACE 81,420 05/2012 SUNGDONG, GLESS 14.20M EUROPEAN INCL TC TO CARGILL @101% BPI TILL MAY 2017 OCEAN QINGDAO 75,618 07/2011 CHENGXI SHIP, GLESS 11.50M UNDISCLOSED NORDWESER 75,321 03/2001 SAMHO HEAVY, GLESS 4.40M CHINESE (ERASMUS) HULL DE030 61,000 08/2016 DALIAN COSCO, CR 4X30T 18.90M UNDISCLOSED ABY PAOLA 60,935 09/2015 MARINE UTD, CR 4X30T 19.40M UNDISCLOSED TC ATTACHED FREDERIKE SELMER 56,847 08/2009 TAIZHOU SANFU, CR 4X30T 6.00M CHRISTOPH S 56,770 06/2011 HANTONG SHIP, CR 4X35T 6.90M (AB MARITIME) VOC ROSE 47,183 04/1998 OSHIMA, CR 4X30T 2.50M CHINESE HOLY LIGHT 42,717 04/1997 ISHIKAWAJIMA, CR 4X30T 2.40M CHINESE HULL 1052 35,700 02/2015 DSME WEIHAI, CR 4X30T 14.50M GERMAN HULL 1053 35,700 03/2015 DSME WEIHAI, CR 4X30T 14.50M HULL 1064 35,700 03/2016 DSME WEIHAI, CR 4X30T 14.50M ORIENT DREAM 32,162 11/2008 HAKODATE, CR 4X30T 7.50M TAIWANESE (TA-HO MARITIME) SAINT DIONYSIS 31,838 04/2002 HAKODATE, CR 4X30T 3.40M N. EUROPEAN L/UP DILIGENCE 28,381 11/1995 IMABARI, CR 4X30T 2.00M CHINESE APOLLONAS 27,912 05/1996 NAIKAI ZOSEN, CR 4X30T 2.55M UNDISCLOSED KENANGA 27,259 10/1996 HANJIN ULSAN, CR 4X30T 1.70M UNDISCLOSED L/UP VIA AUCTION SECOND-HAND TWEEN / MPP / GENERAL CARGO ARKLOW WILLOW 13,873 11/2004 KYOKUYO ZOSEN, GLESS 5.20M CANADIAN CONCORD EXPRESS 10,613 12/1999 NISHI, CR 2X30T DR 2X30T NIUGINI COAST 5,273 07/1996 SEVERNAV, ROMANIA CR 2X36T 2.00M 1.70M TAIWANESE PHILIPPINO (OCEANIC CONTAINER) FOR CONVERSION NIU AILAN COAST 5,273 12/1996 SEVERNAV, ROMANIA CR 2X36T 3
TYPE BULK ANANGEL ETERNITY 171,176 1999 22,966 300 ASIS SPORE FR BANGLADESH BULK IRON BARON 169,981 1999 20,851 320 BANGLADESH BULK STEEL EXPRESS 154,556 1997 22,746 296 ASIS TAIWAN BULK WISE I 150,973 1995 18,433 298 PAKISTAN BULK C. POLARIS 150,903 1995 18,503 276 BANGLADESH INCL 34T PROPELLER BULK GS ANGEL 122,259 1995 16,477 320 PAKISTAN BULK OCEAN HOPE 29,513 1996 8,005 293 BANGLADESH INCL 200T ROB BULK ARWARD TOWER 28,269 1985 6,135 290 PAKISTAN BULK HUA TAI 26,720 1984 9,255 285 BANGLADESH CONVERTED FROM TANKER BULK RUI FU 25,759 1985 6,439 265 BANGLADESH BULK HUDSON LEADER 14,104 1987 13,261 294 INDIA CAR CARRIER TYPE SIZE DELY UNITS OPT. INDEX THIS WEEK LAST WEEK LAST LY LOW LY HIGH LY AVERAGE BDI 625 600 634 291 1200 664 BCI 870 798 954 164 2512 994 BPI 614 597 579 287 1162 650 BSI 562 553 628 243 930 600 BHSI 343 347 327 183 485 334 4
SECOND-HAND CONTAINER TEU ISOLDE 34,026 06/2000 THYSSEN, GERMANY CR 3X45T 2,452 3.00M ATTALOS I 21,900 01/2016 STADT ROTENBURG 12,864 12/2003 WENCHONG, DAMEN SHIPS, UKRAINE MIDDLE EASTERN CR 2X45T 1,700 20.50M EUROPEAN CR 2X45T 1,102 3.50M GERMAN ALICE 12,827 10/2005 DAESUN, GLESS 1,043 8.00M FAR EASTERN TYPE CONT CONTI MELBOURNE 68,834 2000 24,215 318 ASIS SPORE CONT NORASIA ALPS 34,954 1997 11,355 310 ASIS SPORE INCL ABT 150T ROB CONT AS GLORY 30,300 1996 10,485 300 ASIS HONG KONG INCL ABT 170T ROB CONT KARIN 25,648 1999 9,540 290 ASIS COLOMBO CONT MSC LIESELOTTE 21,370 1983 10,487 307 INDIA CONT ACAPULCO 14,148 1996 5,652 290 ASIS COLOMBO TYPE SIZE DELY UNITS OPT. NOV 2017 CONT 1,100TEU - FEB 2018 KYOKUYO SHIP - KOTOKU KAIUN 2 SECOND-HAND REEF REEF. CAP/TY SECOND-HAND PCC/ RORO / PASS CARS/ PAX LM TYPE TYPE SIZE DELY UNITS OPT. CRUISE 20,100GT 2019-2020 LLOYD WERFT - STAR CRUISES 2 CRUISE 1,000PAX 2018 LLOYD WERFT - CRYSTAL CRUISES 1 5