LY MARKET REPORT December 9th, 211 / Week 49 Lower iron ore prices have increased demand and helped raise freight rates in the capesize sector with the BCI ending nearly 8.5% higher. The panamax sector showed signs of life in the last couple of days of the week and managed to stay much unchanged for the week. As a result, the BDI ended the week over 1,99 again with an increase of 3%. However, the smaller sectors were much worse with the BSI and the BHSI ending nearly 8% and over 3% lower respectively. Activity in the dry market is slow with few sales to report. The most noticeable of which is the sale of the panamax MAR REINA (72,474 dwt / blt 1998 Japan) which has been sold for US$ 15.6 million to Greeks. The older handymax MANDAKINI (47,195 dwt / blt 1986 Korea) has been sold for US$ 4.7 million to Bangladeshi buyers whilst Far Eastern buyers seem to have purchased the SOUTHERN SPIRIT (29,482 dwt / blt 1998 Japan) for US$ 14 million with 3 years t/c back at US$ 1, per day. There is more activity in the tanker sector but this centers around project works. The Greek controlled VLCC AROSA (291,381 dwt / blt 1993 Japan) has been committed to Nathalin of Thailand for a conversion project at US$ 23.5 million. The LR-1 ICE BLIZZARD (63,598 dwt / blt 28 Korea) has been committed for US$ 36.3 million (subject to buyers being awarded an ENAP tender). Two separate owners have fixed a number of MR tankers at over the market prices to Mexican buyers with subjects to a PEMEX charter award. There is a surprising activity in the newbuilding market with an order of 2 kamsarmaxes in SWS for US$ 3.5 million. Hyundai HI Korea have won an order for an aframax shuttle tanker at US$ 1 million with delivery 214 whilst a 35, cubic meter LPG has been ordered at Hyundai Mipo Korea for US$ 5 million basis delivery 213. On the demolition market, Bangladesh remains absent and in general activity has definitely slowed down. However, prices seem to have stabilized with India paying in the 48-492 for tankers and bulkers. India took the 41, lightweight VLCC ATLANTIC GALAXY for 49 whilst Pakistan took the 23, lightweight suezmax FRONT BETA for 55. Activity in China was centered around the sale of two 18, lightweight containers at 44. WeberSeas, Weekly Market Report Page 1 of 9
TANKERS HEBEI MOUNTAIN 37,5/95 - HITACHI - B&W 28,9 - SBT - IGS - COW - DH - SS 9/214 DD 1/212 Sold for $22 mill. to undisclosed buyers. AROSA 291,381/93 - HITACHI - B&W 29,598 - SBT - IGS - COW - DH - SS 12/215, DD 12/213 Sold for $23.5 mill. to Thai buyers (Nathalin Group) for conversion. ICE BLIZZARD 63,589/8 - NAMURA - B&W 18,436 - COATED - COILED - SBT - IGS - COW - DH SS/DD 9/213 Sold for $36.3 mill. to Chilean buyers (Sonomar). Sale is subject to the buyers award of a charter tender from Enap. OCEAN CURRENT 46,931/9 - HYUNDAI MIPO - B&W 12,889 - COATED - COILED - SBT - IGS COW - DH - SS 12/214, DD 12/212 OCEAN CREST 46,925/9 - HYUNDAI MIPO - B&W 13,542 - COATED - COILED - SBT - IGS - COW DH - SS 11/214, DD 11/212 OCEAN CHARIOT 46,925/9 - HYUNDAI MIPO - B&W 13,542 - COATED - COILED - SBT - IGS COW - DH - SS 12/214, DD 12/212 Sold en bloc for $38.5 mill. each to Mexican buyers (Bluewater). Sale is subject to a PEMEX tender award. ALPINE EMMA 37,89/9 - HYUNDAI MIPO - B&W 1,686 - COATED - COILED - SBT - IGS - COW DH - SS 5/214, DD 5/212 ALPINE HALLIE 37,795/9 - HYUNDAI MIPO- B&W 12,889 - COATED - COILED - SBT - IGS - COW DH - SS 4/214, DD 4/212 Sold en bloc for $34.5 mill. each to Mexican buyers (Bluewater). Sale is subject to a PEMEX tender award. NEPTUNUS 7,35/91 - NETHERLANDS - NORMO 4,398 - COATED - COILED - SBT - DH - SS 6/216 DD 5/214 Sold for $6 mill. to Mexican buyers. BUSY BEE 3,991/93 - SHIN KURUSHIMA - HANSHIN 3,5 - COATED - SBT - DH - SS/DD 2/212 Sold for $2.6 mill. to West African buyers. LPG ORIENTAL MIHO 3,851/6 - SHITANOE - MIT 3,85-3,518 CBM - DH - SS 7/216, DD 2/214 Sold for $13 mill. to Japanese buyers. Sale includes t/c attached. LPG SHUN YUAN 15 3,72/81 - KISHIGAMI - AKASAKA 3,2-3,28 CBM - SBT - IGS - DH LPG SHUN YUAN 13 2,5/8 - KISHIGAMI - AKASAKA 3,2-3,28 CBM - SBT - DH - SS 9/214 DD 11/211 Sold en bloc for $1 mill. each to Thai buyers. BULKERS MAR REINA 72,474/98 - SASEBO - B&W 12, - 7HH - SS/DD 6/213 Sold for $15.6 mill. to Greek buyers. MANDAKINI 47,195/86 - DAEWOO - B&W 9,827-5HH - C 5X25T Sold for $4.7 mill. to Bangladeshi buyers basis SS/DD due. WeberSeas, Weekly Market Report Page 2 of 9
SOUTHERN SPIRIT 29,482/98 - SHIN KURUSHIMA - MIT 9,1-5HH - C 4X3.5T - SS/DD 11/213 Sold for $14 mill. to Far Eastern buyers. Sale includes t/c back to owners for 3 years at $1,/day. AMBER VITA 29,89/95 - ROMANIA - B&W 8,198-5HH - C 4X3T - SS 7/215, DD 8/213 Sold for $5.7 mill. to Romanian buyers. BLUE SKY 17,825/85 - SHIKOKU - B&W 7,5-4HH - D 4X25T - SS/DD 4/214 Sold for $3 mill. to undisclosed buyers. MPP/TWEENDECKERS BELUGA SYDNEY 16,543/1 - QINGSHAN - B&W 13,324-2HH - C 2X4T, C 1X12T - 1,11 TEU SS 9/215, DD 9/213 Sold at an auction for 26.75 mill. to Dutch buyers (Braveheart). CHRISTINE Y 1,281/86 - NETHERLANDS - CAT 775-1HH - SS 3/216, DD 4/214 Sold $.4 mill. to U.K. based buyers. CONTAINER CHIANGMAI BRIDGE 18,53/2 - IWAGI - B&W 15,554-8 HO - 1,32 TEU Sold for $11 mill. to Chinese buyers (SITC Qingdao). FRESH FOR SALE TANKERS LPG PACIFIC HARMONY 49,71/9 - KAWASAKI - B&W 12,41 - SBT - IGS - DH - 73,879 CBM Vessel is currently inspectable in Cosco Zhoushan Shipyard, China until 11th December. BULKERS NIRMAL PRITI 43,59/85 - TSUNEISHI - B&W 9,68-5HH - C 4X25T Vessel will be inspecable in Hong Kong, where ETA 13th - 14th December. GUANG YING 4,51/84 - OSAKA - SUL 7,345-5HH - C 4X25T Vessel will be inspecable in Singapore, where she is passing annual surveys, till 17th December. MARINA BAY 34,38/87 - GERMANY - SUL 14,72-5HH - C 3X4T INVIKEN 3,7/86 - SPAIN - B&W 1,9-7HH - C 4X16T Vessel is currently inspectable in Puerto Cabello, Venezuela. ZIEMIA SUWALSKA 26,76/84 - ARGENTINA - B&W 7,839-5HH Vessel will be inspectable in Surabaya, Indonesia, where ETA 2th January. WeberSeas, Weekly Market Report Page 3 of 9
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 211 THIS DATE 21 21 TOTAL 29 TOTAL ULCC/VLCC 11 13 14 1 SUEZMAX 4 1 1 5 AFRAMAX 23 13 14 12 PANAMAX TANKER 5 1 1 8 CAPE/COMBO (1, dwt +) 59 15 15 5 PANAMAX/KAMSARMAX BULKER 5 6 21 LOCATION TANKERS BULK CARRIERS CHINA 435 42 INDIA 49 475 BANGLADESH n/a n/a PAKISTAN 49 47 DEMOLITION: INDIA M/T ATLANTIC LIBERTY M/T TIRUMALAI M/V PARAGON M/V JIN YUAN MEN M/V ARWEX (including quantity of non-ferrous metals) 311,625/95-41,27 LDT - USD 49/LDT 33,56/91-8,831 LDT - on private terms 29,39/77-6,83 LDT - USD 482/LDT 22,329/78-7,187 LDT - USD 475/LDT 14,55/76-5,651 LDT - USD 492/LDT PAKISTAN M/T FRONT BETA 135,915/92-23,423 LDT - USD 55/LDT CHINA CONT ITAL GLAMOUR (including 5 tonnes of bunkers ROB) CONT ITAL GARLAND (including 5 tonnes of bunkers ROB) 53,24/87-18,197 LDT - USD 44/LDT 53,24/88-18,197 LDT - USD 44/LDT WeberSeas, Weekly Market Report Page 4 of 9
TYPE OF SHIP NEWBUILDING STATISTICS 211 212 213 214 215 * TOTAL ORDERBOOK ULCC/VLCC 7 61 41 6 115 SUEZMAX 8 59 38 15 AFRAMAX 1 59 25 13 3 11 PANAMAX 3 26 29 2 4 82 MR 7 9 69 11 177 1-35, DWT 32 12 25 4 1 164 CAPESIZE/ MINI CAPE / VLOC 8-1, DWT 44 256 79 15 3 397 35 334 1 4 59 PANAMAX 22 122 36 5 185 SUPRAMAX / HANDYMAX 74 412 139 17 642 HANDYSIZE 63 341 139 22 565 * Includes ALL vessels on order NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 2 82, dwt Bulker SWS 213 $3.5 Cara Shipping 1 112, dwt Tanker Hyundai HI Q1 214 $1 KNOT (shuttle tanker) 1 35, cbm LPG Hyundai Mipo 213 $5 Geogas + 2 options 2 6,6 teu Container Jiangsu Rongsheng 213 $65 Ofer Brothers (Old order) WeberSeas, Weekly Market Report Page 5 of 9
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 1922 1866 56 3.% Baltic Capesize 3697 349 288 8.45% Baltic Panamax 1713 171 12.71% Baltic Supramax 123 1335-15 -7.87% Baltic Handysize 62 623-21 -3.37% 14 12 1 8 6 4 2 25 2 15 1 5 4-Jan-5 4-Apr-5 4-Jul-5 14 12 1 8 6 4 2 4-Jan-5 4-Apr-5 4-Jul-5 18-Jan-5 18-Apr-5 18-Jul-5 4-Oct-5 4-Jan-6 4-Apr-6 4-Jul-6 4-Oct-6 4-Jan-7 4-Apr-7 4-Jul-7 4-Oct-7 4-Jan-8 4-Apr-8 4-Jul-8 4-Oct-8 4-Oct-5 4-Jan-6 4-Apr-6 4-Jul-6 4-Oct-6 4-Jan-7 4-Apr-7 4-Jul-7 4-Oct-7 4-Jan-8 4-Apr-8 4-Jul-8 4-Jan-9 4-Apr-9 4-Jul-9 4-Oct-9 4-Jan-1 4-Apr-1 4-Jul-1 4-Oct-1 4-Jan-11 4-Apr-11 4-Jul-11 4-Oct-11 WeberSeas, Weekly Market Report Page 6 of 9 BCI 18-Oct-5 18-Jan-6 18-Apr-6 18-Jul-6 18-Oct-6 18-Jan-7 18-Apr-7 18-Jul-7 18-Oct-7 18-Jan-8 18-Apr-8 18-Jul-8 BDI 4-Oct-8 4-Jan-9 4-Apr-9 4-Jul-9 18-Oct-8 18-Jan-9 BPI 4-Oct-9 4-Jan-1 4-Apr-1 4-Jul-1 4-Oct-1 4-Jan-11 4-Apr-11 4-Jul-11 4-Oct-11 18-Apr-9 18-Jul-9 18-Oct-9 18-Jan-1 18-Apr-1 18-Jul-1 18-Oct-1 18-Jan-11 18-Apr-11 18-Jul-11 18-Oct-11
BALTIC WET EX RATES THIS LAST % Baltic Clean Tanker 741 726 15 2.7% Baltic Dirty Tanker 839 776 63 8.12% 2,5 2, 1,5 1, 5 11-Jan-5 15-Mar-5 2-May-5 2,5 2, 1,5 1, 5 11-Jan-5 15-Mar-5 2-May-5 25-Jul-5 27-Sep-5 29-Nov-5 8-Feb-6 12-Apr-6 2-Jun-6 22-Aug-6 25-Oct-6 4-Jan-7 8-Mar-7 1-May-7 12-Jul-7 14-Sep-7 16-Nov-7 28/1/28 3-Apr-8 9-Jun-8 18-Aug-8 25-Jul-5 27-Sep-5 29-Nov-5 8-Feb-6 12-Apr-6 2-Jun-6 22-Aug-6 25-Oct-6 4-Jan-7 8-Mar-7 1-May-7 12-Jul-7 14-Sep-7 16-Nov-7 28/1/28 3-Apr-8 9-Jun-8 18-Aug-8 21-Oct-8 7-Jan-9 11-Mar-9 BCTI 21-Oct-8 7-Jan-9 11-Mar-9 BDTI 18-May-9 21-Jul-9 23-Sep-9 25-Nov-9 5-Feb-1 13-Apr-1 17-Jun-1 19-Aug-1 22-Oct-1 24-Dec-1 7-Mar-11 9-May-11 12-Jul-11 14-Sep-11 16-Nov-11 18-May-9 21-Jul-9 23-Sep-9 25-Nov-9 5-Feb-1 13-Apr-1 17-Jun-1 19-Aug-1 22-Oct-1 24-Dec-1 7-Mar-11 9-May-11 12-Jul-11 14-Sep-11 16-Nov-11 WeberSeas, Weekly Market Report Page 7 of 9
MAJOR CAPITAL MARKETS INDEX THIS LAST % S HIGH S LOW DOW JONES 12,196.37 12,45.68 15.69 1.25% 12,928.5 1,362.3 NASDAQ 2,596.38 2,626.2-29.82-1.14% 2,887.75 2,298.89 AIM 698. 696. 2..29% 968.3 657.8 NIKKEI 8,664.58 8,597.38 67.2.78% 1,891.6 8,135.79 PUBLIC COMPANIES DRY-CARGO SECTOR NAME SYMBOL THIS LAST % HIGH LOW DIANA DSX 7.49 7.49..% 13.21 6.59 DRYSHIPS DRYS 2.34 2.5 -.16-6.4% 6.44 1.75 EAGLE BULK EGLE 1.5 1.1 -.5-4.55% 5.24 1.4 EXCEL MARITIME EXM 1.85 1.87 -.2-1.7% 6.8 1.63 GENCO GNK 7.43 7. -.9-1.2% 15.47 4.15 GOLDENPORT HOLDINGS GPRT.L 71.5 72.5-1. -1.38% 123.5 69. NAVIOS HOLDINGS NM 3.79 3.4.39 11.47% 5.99 2.88 TANKER/ENERGY SECTOR NAME SYMBOL THIS LAST % HIGH LOW CAPITAL PRODUCT PARTNERS CPLP 6.36 6.12.24 3.92% 11.39 4.85 STEALTHGAS GASS 3.97 3.97..% 8.8 3.4 TEN TNP 5.12 5..12 2.4% 11.18 4.84 NAME SYMBOL CONTAINER SECTOR THIS LAST % HIGH LOW DANAOS DAC 3.63 3.3.33 1.% 7.87 2.65 * Prices reflect Thursday s closing values. Prices in US$ except for Goldenport Holdings which is in GBP. WeberSeas, Weekly Market Report Page 8 of 9
RATES OF EX THIS LAST % Euro / $ 1.3351 1.3485 -.134 -.99% Sterling / $ 1.5648 1.5683 -.35 -.22% $ / Yen 77.735 77.88 -.145 -.19% $ / Nok 5.7699 5.7817 -.118 -.2% $ / Won 1,146.88 1,129.15 17.73 1.57% Brent Crude 17.71 19.6-1.89-1.72% LIBOR (3-month).54%.53%.1 1.89% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 1 YEARS 2 YEARS VLCC $95.m $55.m $3.m (DH) $2.m Suezmax $6.m $5.m $33.m (DH) $12.5m Aframax $47.m $35.m $21.m (DH) $8.5m Panamax $4.m $3.m $17.m (DH) $7.m Product $36.m $27.m $17.m (DH) $5.m BULK CARRIERS PROMPT RESALE 5 YEARS 1 YEARS 2 YEARS Capesize $49.m $37.m $29.m $11.5m Panamax/Kamsarmax $37.5m $26.5m $21.m $11.5m Supramax/Handymax $29.m $25.5m $2.5m $1.m * 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 (3, dwt) 16,5/D 25,/D 31,/D SUEZMAX (15, dwt) 17,/D 21,/D 22,75/D AFRAMAX (11, dwt) 13,/D 17,/D 18,5/D PANAMAX (72, dwt) 13,5/D 15,/D 17,/D MR (45-5, dwt) 14,/D 14,5/D 16,/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 38cst: $611. $672. $62.5 $655. 18cst: $66. $695. $654.5 $66. MGO: $925, $135. $955.5 $925. 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. 211 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 9 of 9