LY MARKET REPORT October 5th, 2012 / Week 40 Despite China being on holiday this week the market was positive in the large sectors (capes and panamaxes) where strong gains were posted. This week's winner is the BPI which rose over 40% week-on-week to end just shy of the 600 mark. The BCI increased nearly 20% and as a result the BDI rose over 100 points to end at 875, rising just over 14% for the week. The smaller sectors suffered losses with the BSI loosing just over 4% and the BHSI nearly 6%. It will be interesting to see if the momentum will be maintained next week when the Chinese come back from holidays. We are reporting a plethora of deal, both in the wet and dry sectors. Sinokor of Korea continue their buying spree, this week purchasing two VLCCs, one VLOC and three capesize bulkers. Namely the VLCCs ALREHAB and OSPREY (abt 301,500 Dwt / Blt 1999 Japan) for US$ 27 million each, the VLOC HEBEI WINNER (256,777 dwt / blt 1993 Japan) for US$ 12 million and the capesizes BULK ASIA (170,578 dwt / blt 2001 Japan), BULK EUROPE (169,770 dwt / blt 2001 Japan) and VOGEBULKER (169,168 dwt / blt 1999 Korea) for US$ million enbloc. Greek buyers Allseas Marine have purchased on private terms three supramax and one handysize bulker in a banking deal from affiliates of Egnatia Marfin Bank. The three supramaxes being the ARROZERO TRES, CHUNGO TRES and MINERO TRES (all 57,000 dwt / blt 2011 China) and the handy the DESTINO DOS (28,495 dwt / blt 2002 Japan). The cape resale BULK LOYALTY (176,000 dwt / blt 2012 China) has been re-sold for US$ 34.5 million to Greeks whilst the panamax BET INTRUDER (69,235 dwt / blt 1993 Japan) has been sold for a mere US$ 4.8 million to Chinese buyers with SS/DD due in December 2012. In the handy sector the PEONY (29,756 dwt / blt 2001 Japan) has achieved US$ 10.1 mill to Chilean buyers. Newbuilding activity continues to surprise. This week we are reporting an order for 6 x 50,000 dwt MR tankers (+4 options) at STX Korea for delivery 2014 for US$ 33 million each to U.S. based buyers. German owners have ordered 2 x 76,000 dwt panamax bulkers at Taizhou Catic for delivery 2014. Far Eastern buyers ordered 9 x 9,200 TEU containers at DSIC China for US$ 82.5 million each for delivery 2014 onwards (the order is backed by a 12 year time charter to CMA CGM). WeberSeas, Weekly Market Report Page 1 of 10
Demolition took a breather this week with fewer vessels reported sold. In India we have much more smaller violumes but prices have crept up to the 420-425 level. Bangladesh remains inactive due to the recent problems with the opening of the L/Cs and we understand that whiklst some ships are being beached many are taking the option of being re-directed to India. Pakistan and China took one capesize and one panamax respectively. TANKERS ALREHAB 301,620/99 - IHI - SUL 36,962 - COATED - SBT - IGS - COW - DH - SS 07/2014, DD 06/2014 OSPREY 301,963/99 - SUMITOMO - SUL 28,002 - COATED - SBT - IGS - COW - DH - SS/DD 01/2014 Sold en bloc for $ 27 mill each to South Korean buyers (Sinokor). HELLESPONT TRINITY 148,018/96 - SAMSUNG - B&W 21,240 - COILED - SBT - IGS - COW - DH SS 05/2013, DD 03/2014 Sold for $11.6 mill to Greek buyers. JO ASK 19,087/97 - SPAIN - B&W 9,699 - ST. ST. COATING - COILED - SBT - IGS - DH SS/DD 11/2012 JO EIK 19,006/98 - SPAIN - B&W 9,699 - ST. ST. COATING - COILED - SBT - IGS - DH SS/DD 03/2013 Sold en bloc for $11 and $11.5 mill to Angolan buyers. BOW DE FENG 12,514/02 - FUKUOKA - B&W 5,302 - ST. ST. COATING - COILED - SBT - IGS - DH SS 03/2017, DD 03/2015 BOW DE RICH 12,451/03 - FUKUOKA - B&W 5,311 - ST. ST COATING - COILED - SBT - IGS - DH SS/DD 05/2013 Sold en bloc for $21 mill to Chinese buyers (Sinochem). NEW WEALTH 9,380/09 - DONGFANG - MAK 4,038 - COATED - COILED - SBT - IGS - DH SS 11/2014, DD 11/2012 NEW SUCCESS 9,118/09 - DONGFANG - MAK 4,038 - COATED - COILED - SBT - IGS - DH SS 11/2014, DD 11/2012 Sold en bloc on private terms to Chinese buyers (Shanghai Keen Ship Management). It is an extrajudicial sale by the creditor (bank). SUN VICTORY 6,568/00 - MURAKAMI - MIT 4,200 - COATED - COILED - SBT - DH - SS/DD 02/2015 Sold for $ 4.8 mill to Indonesian buyers. BULKERS HEBEI WINNER 256,777/93 - IHI - SUL 27,222-5HO 10HA - SS/DD 09/2013 Sold for $12 mill to South Korean buyers (Sinokor). BULK LOYALTY 176,000/12 - JINHAI - B&W 22,923-9HH Sold for $34.5 mill to Greek buyers. BULK ASIA 170,578/01 - SASEBO - B&W 22,919-9HH - SS 01/2016, DD 07/2013 BULK EUROPE 169,770/01 - SASEBO - B&W 22,919-9HH - SS 06/2016, DD 09/2013 VOGEBULKER 169,168/99 - HALLA - B&W 22,921-9HH - SS/DD 08/2014 Sold en bloc for $ mill to South Korean buyers (Sinokor). WeberSeas, Weekly Market Report Page 2 of 10
BET INTRUDER 69,235/93 - IMABARI - SUL - 7HH - SS/DD 12/2012 Sold for $ 4.8 mill to Chinese buyers with SS/DD due. ARROZERO TRES 57,000/11 - JIANGDONG - B&W 13,542-5HH - C 4X30T - SS 06/2016, DD 06/2014 CHUNGO TRES 57,000/11 - JIANGDONG - B&W 13,542-5HH - C 4X30T - SS 04/2016, DD 04/2014 MINERO TRES 57,000/11 - JIANGDONG - B&W 13,542-5HH - C 4X30T - SS 09/2016, DD 09/2014 DESTINO DOS 28,495/02 - KANDA - B&W 8,000-5HH - C 4X30T - SS 06/2017, DD 09/2014 Sold en bloc on private terms to Greek buyers (Allseas Marine S.A.). This is a banking deal since the vessels were controlled and sold from affiliates of Greece s Egnatia Marfin Bank. CLIPPER GRACE 30,548/07 - SHANJAIGUAN - B&W 8,400-5HH - C 4X30T - SS/DD 01/2013 Sold for $11.3 mill to Greek buyers. PEONY 29,756/01 - SHIKOKU - B&W 8,371-5HH - C 4X30T - SS 11/2016, DD 09/2014 Sold for $10.1 mill to Chilean buyers. SEA FATE 21,341/83 - WATANABE - B&W 8,100-4HH - C 3X25T, 1X25T - SS/DD 10/2013 Sold for $2.5 mill to Chinese buyers. MPP/TWEENDECKERS ZIA BELLE 8,708/97 - ZHONGHUA - WARTSILA 10,605-1HH - C 2X150T - SS/DD 09/2012 Sold for $2 mill to Chinese buyers. PACIFIC GUARDIAN 5,450/98 - JIANGSU - B&W 5,873-3HH - C 2X40T - SS 06/2013, DD 06/2011 Sold for $2.5 mill to Filipino buyers. LUCKY WHALE 5,215/95 - TURKEY - MAK 3,997-1HH - C 2X40T - SS/DD 08/2013 Sold for $ 0.9 mill to Syrian buyers. RO-RO OS BANGKOK 11,601/85 - GERMANY - MAN 10,330-6 DECKS - 1,200 CARS OS SINGAPORE 11,601/85 - GERMANY - MAN 10,330-6 DECKS - 1,200 CARS OS YANGON 7,499/86 - GERMANY - MAN 10,330-6 DECKS - 1,200 CARS Sold en bloc at an auction for $10 mill to Chinese buyers (Far East Lines). FRESH FOR SALE TANKERS AEOLOS 84,040/90 - DENMARK - B&W 10,901 - COATING - COILED - SBT - COW - IGS - DH Vessel is inspectable in Gibraltar by arrangement. WeberSeas, Weekly Market Report Page 3 of 10
BULKERS "AQUABELLA 161,010/95 - HYUNDAI - B&W 23,243-9HH Vessel will be inspectable in Singapore between 16th - 18th October. "THEOFYLAKTOS 74,3/95 - DAEWOO - B&W 12,6-7HH Vessel will be inspectable in Iraq end October.. "FLORAL LAKE 50,246/03 - MITSUI - B&W 10,999-5 HH - C 4X30T Vessel is inspectable in Japan around 16th - 19th October. "SPEAR FLOWER 29,738/03 - SHIKOKU - B&W 6,150-5HH - C 4X30T Vessel is inspectable in Taicang, China between 16th and 17th October. "JA ALADDIN DREAM II 28,611/03 - IMABARI - B&W 7,954-5HH - C 4X30.5T Vessel will be inspectable in Al Jubail, Saudi Arabia where ETA 8th October. WeberSeas, Weekly Market Report Page 4 of 10
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2012 THIS DATE 2011 2011 TOTAL 2010 TOTAL ULCC/VLCC 8 10 14 14 SUEZMAX 14 3 4 10 AFRAMAX 21 16 24 14 PANAMAX TANKER 1 4 5 10 CAPE/COMBO (100,000 dwt +) 57 58 60 15 PANAMAX/KAMSARMAX BULKER 75 48 54 6 LOCATION TANKERS BULK CARRIERS CHINA 325-335 310-315 INDIA 415-425 395-410 BANGLADESH 390-410 365-380 PAKISTAN 405-425 390-405 DEMOLITION: INDIA M/V PHOENIX" M/V CARINA K" 151,227/90-17,898 LDT - USD 420/LDT 29,990/91-8,384 LDT - USD 425/LDT - old sale CONT ATLANTIC TRADER" 22,024/96-7,376 LDT - USD 425/LDT (Basis as is Colombo included bunkers for the last voyage). CONT HORIZON" CONT SAADET C" 14,764/91-8,175 LDT - USD 428/LDT 14,140/91-6,668 LDT - sold on private terms BANGLADESH M/V INFINITE HOPE" 45,260/84-12,740 LDT - USD 430/LDT - old sale CHINA M/V GRAND ANEMI 76,650/88-13,650 LDT - USD 342/LDT - as is Taiwan PAKISTAN M/V MAHAVIR PRASAD 136,608/83-18,882 LDT - USD 398/LDT TURKEY M/V ALGIERS STAR 10,900/79-3,860 LDT - undisclosed price WeberSeas, Weekly Market Report Page 5 of 10
TYPE OF SHIP NEWBUILDING STATISTICS 2012 2013 2014 2015 2016 * TOTAL ORDERBOOK ULCC/VLCC 20 39 14 3 2 78 SUEZMAX 13 40 10 5 4 72 AFRAMAX 13 31 21 8 4 77 PANAMAX 5 34 32 71 MR 34 91 54 10 189 10-35,000 DWT 24 56 18 98 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 43 122 29 6 208 76 162 59 19 2 319 PANAMAX 40 108 17 1 171 SUPRAMAX / HANDYMAX 103 213 57 7 2 383 HANDYSIZE 78 217 58 31 5 393 * Includes ALL vessels on order NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 6 50,000 dwt Tanker STX 2014 $33 HighPoint Maritime + 4 options 3 12,000 cbm LPG STX 2014 $33 Unigas + 3 options 2 76,000 dwt Bulker Taizhou Catic 2014 n/a MST - Mineralien 5 9,200 teu Container DSIC 2014 $82.5 CIMC 12 years TC to CMA CGM 2 6,500 ceu Car Carrier Samjin Shipbuilding Industries 2014/15 $60 Siem Car Carriers WeberSeas, Weekly Market Report Page 6 of 10
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 875 766 109 14.23% Baltic Capesize 1932 1621 311 19.19% Baltic Panamax 598 425 173 40.71% Baltic Supramax 795 830-35 -4.22% Baltic Handysize 444 472-28 -5.93% 14000 12000 10000 8000 6000 4000 2000 0 5-Apr-05 5-Jul-05 25000 20000 15000 10000 5000 0 14000 12000 10000 8000 29-Mar-05 29-Jun-05 29-Sep-05 6000 4000 2000 0 05-Apr-05 05-Jul-05 05-Oct-05 5-Oct-05 5-Jan-06 5-Apr-06 5-Jul-06 5-Oct-06 5-Jan-07 5-Apr-07 5-Jul-07 5-Oct-07 5-Jan-08 5-Apr-08 5-Jul-08 5-Oct-08 5-Jan-09 5-Apr-09 5-Jul-09 5-Oct-09 5-Jan-10 5-Apr-10 5-Jul-10 5-Oct-10 5-Jan-11 5-Apr-11 5-Jul-11 5-Oct-11 5-Jan-12 5-Apr-12 5-Jul-12 5-Oct-12 WeberSeas, Weekly Market Report Page 7 of 10 B D I 29-Dec-05 29-Mar-06 29-Jun-06 29-Sep-06 29-Dec-06 29-Mar-07 29-Jun-07 29-Sep-07 29-Dec-07 29-Mar-08 29-Jun-08 29-Sep-08 29-Dec-08 29-Mar-09 B C I 05-Jan-06 05-Apr-06 05-Jul-06 05-Oct-06 05-Jan-07 05-Apr-07 05-Jul-07 05-Oct-07 05-Jan-08 05-Apr-08 05-Jul-08 05-Oct-08 05-Jan-09 05-Apr-09 B P I 29-Jun-09 29-Sep-09 29-Dec-09 29-Mar-10 05-Jul-09 05-Oct-09 05-Jan-10 05-Apr-10 29-Jun-10 29-Sep-10 29-Dec-10 29-Mar-11 29-Jun-11 29-Sep-11 29-Dec-11 29-Mar-12 29-Jun-12 29-Sep-12 05-Jul-10 05-Oct-10 05-Jan-11 05-Apr-11 05-Jul-11 05-Oct-11 05-Jan-12 05-Apr-12 05-Jul-12 05-Oct-12
BALTIC WET EX RATES THIS LAST % Baltic Clean Tanker 626 642-16 -2.49% Baltic Dirty Tanker 664 649 15 2.31% 2,500 2,000 1,500 1,000 500 0 2,500 2,000 1,500 1,000 500 26-Apr-05 30-Jun-05 2-Sep-05 4-Nov-05 0 17-Feb-05 25-Apr-05 29-Jun-05 16-Jan-06 20-Mar-06 25-May-06 28-Jul-06 2-Oct-06 4-Dec-06 13-Feb-07 17-Apr-07 19-Jun-07 21-Aug-07 24-Oct-07 1-Mar-08 7-Mar-08 14-May-08 24-Jul-08 26-Sep-08 5-Dec-08 16-Feb-09 22-Apr-09 26-Jun-09 1-Sep-05 3-Nov-05 13-Jan-06 17-Mar-06 24-May-06 27-Jul-06 29-Sep-06 1-Dec-06 12-Feb-07 16-Apr-07 18-Jun-07 20-Aug-07 23-Oct-07 1-Feb-08 6-Mar-08 13-May-08 23-Jul-08 25-Sep-08 4-Dec-08 13-Feb-09 21-Apr-09 BCTI BDTI 28-Aug-09 2-Nov-09 13-Jan-10 17-Mar-10 24-May-10 25-Jun-09 27-Aug-09 30-Oct-09 12-Jan-10 16-Mar-10 27-Jul-10 29-Sep-10 01-Dec-10 10-Feb-11 14-Apr-11 17-Jun-11 19-Aug-11 24-Oct-11 3-Jan-12 6-Mar-12 11-May-12 17-Jul-12 28-Σεπ-12 21-May-10 26-Jul-10 28-Sep-10 30-Nov-10 9-Feb-11 13-Apr-11 16-Jun-11 18-Aug-11 21-Oct-11 23-Dec-11 5-Mar-12 10-May-12 16-Jul-12 27-Sep-12 WeberSeas, Weekly Market Report Page 8 of 10
MAJOR CAPITAL MARKETS INDEX THIS * LAST * % S HIGH S LOW DOW JONES 13,575.36 13,485.97 89.39 0.66% 13,653.20 10,404.50 NASDAQ 3,149.46 3,136.60 12.86 0.41% 3,195.67 2,298.89 AIM 705.30 704.99 0.31 0.04% 829.10 657.80 NIKKEI 8,824.59 8,950.00-125.41-1.40% 10,255.20 8,135.79 PUBLIC COMPANIES NAME SYMBOL DRY-CARGO SECTOR THIS * LAST * % HIGH LOW DIANA DSX 6.72 6.55 0.17 2.60% 10.19 5.89 DRYSHIPS DRYS 2.27 2.40-0.13-5.42% 3.84 1.91 EAGLE BULK EGLE 3.47 3.62-0.15-4.14% 9.80 2.51 EXCEL MARITIME EXM 0.84 0.72 0.12 16.67% 3.30 0.40 GENCO GNK 4.08 3.78 0.30 7.94% 10.14 2.09 GOLDENPORT HOLDINGS GPRT.L 44.00 44.99-0.99-2.20% 91.00 39.00 NAVIOS HOLDINGS NM 3.65 3.65 0.00 0.00% 4.49 2.98 NAME SYMBOL TANKER/ENERGY SECTOR THIS * LAST * % HIGH LOW CAPITAL PRODUCT PARTNERS CPLP 8.21 8.16 0.05 0.61% 8.80 5.57 STEALTHGAS GASS 6.46 6.69-0.23-3.44% 7.00 3.6 TEN TNP 5.00 5.36-0.36-6.72% 9.14 4.71 NAME SYMBOL CONTAINER SECTOR THIS * LAST * % HIGH LOW DANAOS DAC 2.89 3.21-0.32-9.97% 4.88 2.89 * Prices reflect Thursday s closing values. Prices in US$ except for Goldenport Holdings which is in GBP. WeberSeas, Weekly Market Report Page 9 of 10
RATES OF EX THIS LAST % Euro / $ 1.3063 1.2943 0.0120 0.93% Sterling / $ 1.6199 1.6225-0.0026-0.16% $ / Yen 78.633 77.595 1.038 1.34% $ / Nok 5.6653 5.6851-0.02-0.35% $ / Won 1,108.00 1,112.14-4.14-0.37% Brent Crude 111.87 112.01-0.14-0.12% LIBOR (3-month) 0.35% 0.36% -0.01-2.78% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS VLCC $88.0m $60.0m $40.0m $22.0m Suezmax $57.0m $45.0m $25.0m $10.5m Aframax $39.0m $29.0m $16.0m $8.0m Panamax $37.0m $27.5m $17.0m $7.0m Product $32.0m $21.5m $15.0m $4.5m BULK CARRIERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS Capesize $40.0m $32.0m $22.0m $8.0m Panamax/Kamsarmax $29.0m $22.5m $15.5m $7.5m Supramax/Handymax $25.0m $19.0m $13.5m $6.5m * 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) 19,750/D 23,500/D SUEZMAX (150,000 dwt) 17,000/D 19,750/D AFRAMAX (110,00 dwt) 13,750/D 16,000/D PANAMAX (72,000 dwt) 13,000/D 14,250/D MR (45-50,000 dwt) 13,250/D 14,250/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 380cst: $625.00 $647.00 $637.50 $648.50 180cst: $650.00 $667.00 $672.50 $658.00 MGO: $977.00 $1030.00 $990.50 $963.00 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. 2012 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 10 of 10