LY MARKET REPORT March 29th, 2013 / Week 13 This week, all indices with the exemption of BHSI lost some ground. BSI decreased by 3.48%, while BDI, BCI and BPI lost 2.47%, 2.73% and 2.65% respectively. On the other hand, BHSI finished the week with marginal gains of 0.92%. The overall activity in the second hand market remained strong yet for another week, with several interesting deals taking place. In the dry sector, perhaps the most interesting sale is this of "Panamax Challenger" (78,000 dwt / dely Q3 2013 Japan) for US$ 27 million to Greek buyers. Furthermore, 2 x 1997 blt panamax bulkcarriers, "Fearless I" (73,427 dwt / 1997 blt Korea) and "King Coal" (72,873 dwt / 1997 blt Taiwan) where sold at an auction for US$ 6.7 and 6 million respectively. In the handymax sector, "Honesty Ocean" (47,240 dwt / 1997 blt Japan) is committed for US$ 8.25 million, while the handysize "Da Shi Tong" (31,802 dwt / 1997 blt Japan) achieved US$ 8 million, basis SS/DD freshly passed in February 2013. Finally, last week "Sea Bell" (23,997 dwt / 2000 blt) was reported sold, however this is not the case as the vessel has been fixed on t/c. In the tanker market, a couple of early 2000's VLCCs changed hands, Namely, "Antonis" (309,3171 dwt / 2001 blt Korea) has been sold for US$ 26.5 million, while the 2 year younger "Samco Asia" (305,000 dwt / 2003 blt Korea) has been committed for US$ 34.5 million. Buyers for both vessels are Greeks. Moreover, in the MR sector, Navios Shipmanagement is said to have acquired 2 sistership ("Indigo Point"/"Ivory Point" 50,922 dwt / 2007 blt Korea) vessels for US$ 46.5 million en bloc. "St Pauli" (47,149 dwt / 2003 blt Japan) was sold for around US$ 13.5 million, and "Fair Energy" (45,974 dwt / 2003 blt) obtained a firm price of US$ 14.8 million. On the newbuilding front, we understand that Frontline 2012 has exercised its option for 4 x 180,000 dwt capesizes at STX Dalian. NLNG-Bonny Gas has placed an order in Samsung for 4 LPG carriers of 174,000 cbm capacity, costing around US$ 216 million each, while Scorpio Tankers continued its newbuidling program by ordering 2 LR2 aframaxes in Daewoo, Korea, while Lundqvist Reerierna has gone to Sumitomo for 1 x 104,300 Dwt aframax with delivery in 2014. Finally, SITC International Holdings has placed an order for 2 firm 1,8000 teu units +2 +4 options in CSBC of Taiwan, at about US$ 24 million a piece. Demolition market continues to be active in general with price levels for the subcontinent remaining well above the 400 benchmark, depending of course on the type of vessel. WeberSeas, Weekly Market Report Page 1 of 10
TANKERS ANTONIS 309,371/01 - SAMSUNG - B&W 34,6 - IGS - SBT - COW - DH - SS/DD 05/2016 Sold for $26.5 mill to Greek buyers (Altomare S.A.). SAMCO ASIA 305,000/03 - HYUNDAI - B&W 39,891 - IGS - SBT - COW - DH - SS/D 07/2013 Sold for $34.5 mill to Greek buyers (Alpha Tankers and Freighters). ALMI SUN 157,430/13 - DAEWOO - B&W 25,370 - COILED - SBT - IGS - COW - DH Sold for $55 mill to U.S. based buyers (Nordic American Tankers). INDIGO POINT 50,922/07 - STX - B&W 18,436 - COATED - COILED - SBT - COW - IGS - DH SS 12/2017, DD 05/2016 IVORY POINT 50,922/07 - STX - B&W 18,436 - COATED - COILED - SBT - COW - IGS - DH SS 10/2017, DD 11/2015 Sold en bloc for $46.5 mill to Greek buyers (Navios Shipmanagement Inc.) ST. PAULI 47,149/03 - ONOMICHI - B&W 11,665 - COATED - COILED - SBT - IGS - DH SS/DD 05/2013 Sold for $13.5 mill to Greek buyers. FAIR EXPRESS 45,974/03 - KURUSHIMA - MIT 12,599 - COATED - COILED - SBT - IGS DH - SS/DD 04/2013 Sold for $14.8 mill to European buyers. TRADEWIND UNION 10,600/97 - ASAKAWA - B&W 5,701- ST.ST. COATING - COILED - SBT DH - SS 09/2017, DD 09/2015 Sold for $8 mill to S.Korean buyers. TUGRUL S 3,500/04 - TURKEY - B&W 5,701 - ST.ST COATING - COILED - SBT - DH SS/DD 08/2014 Sold for $6 mill to Polish buyers (Unibaltic). LPG BUENA ESTELA 3,192/98 - KANREI - B&W 3,270-3,513 CBM Sold for $7.5 mill to undisclosed buyers. BULKERS PANAMAX CHALLENGER 78,000/13 - SANOYAS - B&W 15,037-7HH Sold for $27 mill to Greek buyers. C.S. PEGASUS 77,663/98 - MITSUI - B&W 13,899-5HH - SS/DD 07/2015 Sold for $8 mill to Indonesian buyers. FEARLESS I 73,427/97 - HYUNDAI - B&W 12,162-7HH - SS 05/2017, DD 04/2015 Sold at an auction for $6.7 mill to Chinese buyers. KING COAL 72,873/97 - CSBC - SUL 13,200-7HH - SS 11/2016, DD 11/2014 Sold at an auction for $6 mill to Greek buyers. WeberSeas, Weekly Market Report Page 2 of 10
HONESTY OCEAN 47,240/97 - OSHIMA - MIT 10,050-5HH - C 4X30T - SS 04/2017, DD 07/2015 Sold for $8.25 mill to undisclosed buyers. DA SHI TONG 31,802/97 - HAKODATE - MIT 9,001-5HH - C 4X30.5T - SS/DD 11/2017 Sold for $8 mill to Far Eastern buyers. CONTAINERS THORSCAPE 34,907/97 - HYUNDAI - SUL 32,562-6HO 10HA - 2,908 TEU Sold on private terms to Greek buyers (Technomar). R.R. AMERICA 33,900/02 - GERMANY - B&W 26,915 - C 3X45T - 2,4 TEU Sold for $7.8 mill to Greek buyers (Lomar Shipping). YM SKY 22,077/03 - IMABARI - B&W 21,461-1,620 TEU Sold for $7.5 mill to undisclosed buyers. WeberSeas, Weekly Market Report Page 3 of 10
FRESH FOR SALE TANKERS SOUDA 3,465/10 - CHINA P.R.- DAIHATSU 2,000 - SBT - COATED - COILED - DH Vessel is inspectable in Piraeus area, Greece. BULKERS PACIFIC TIARA 180,310/04 - KOYO - B&W 25,329-9HH Vessel will be at Cosco Zhoushan, China where can be inspected on 4th April. MAGNOLIA 179,788/09 - DAEWOO - B&W 25,370-9HH Vessel is in Port Hedland, ETD 31st March. ETA China around 13th April where can be inspected (port tbn). PEACE VOYAGE 93,236/10 - JIANGSU - B&W 18,436-7HH Vessel is inspectable at Jiangsu, China. DOMINA 73,593/07 - JIANGNAN - B&W 13,868-7HH Vessel will be in Koolan island, W. Australia 4th April where can be inspected. FGM IRON 68,461/96 - IMABARI - SUL 13,501-7HH - C 4X30T Vessel presently is in Rizhao, China where is waiting for orders. GLORY SANYE 45,216/94 - KANASASHI - MIT 10,799-5HH - C 4X25T Vessel is now in Casablanca. ETD 1st April. Next intention port is Tilbury, UK. BARKO 22,530/85 - UNITED KINGDOM - MIRRLEES 5,921-4HH Vessel is currently loading in Izmir, ETS 31st March, for discharge in Libya where can be inspected. CONTAINERS MARE SUPERUM,329/98 - HYUNDAI - SUL 49,593-7HO 14HA - 4,038 TEU Vessel will be in Port-of-Spain, Trinidad between 30th March-2nd April where can be inspected. WeberSeas, Weekly Market Report Page 4 of 10
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2013 THIS DATE 2012 2012 TOTAL 2011 TOTAL ULCC/VLCC 1 5 14 14 SUEZMAX 3 4 15 4 AFRAMAX 6 5 29 24 PANAMAX TANKER 1 1 3 5 CAPE/COMBO (100,000 dwt +) 15 12 68 60 PANAMAX/KAMSARMAX BULKER 12 31 101 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: INDIA M/T JAG PARWAR M/V KING FAITH M/V KING BRIGHT 29,998/88-7,320 LDT - USD 433/LDT 20,377/89-8,193 LDT - USD 432/LDT 18,100/88-8,308 LDT - USD 432/LDT PAKISTAN M/T MAYFAIR M/V SENECA 298,405/95-42,703 LDT - USD 446/LDT - (old sale) 28,788/83-7,201 LDT - USD 420/LDT TURKEY RORO SVETI STEFAN 1,662/77-3,312 LDT - USD 322/LDT WeberSeas, Weekly Market Report Page 5 of 10
TYPE OF SHIP NEWBUILDING STATISTICS 2013 2014 2015 2016 * TOTAL ORDERBOOK ULCC/VLCC 35 30 6 1 72 SUEZMAX 29 15 10 4 58 AFRAMAX 18 38 20 10 86 PANAMAX 25 34 20 3 82 MR 83 107 34 13 237 10-35,000 DWT 81 30 10 121 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 126 63 8 197 180 91 20 291 PANAMAX 124 22 1 1 148 SUPRAMAX / HANDYMAX 232 92 23 6 353 HANDYSIZE 213 109 49 5 376 NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 4 174,000 cbm LPG Samsung NLNG-Bonny 2015/16 $216.00 H.I. Gas 2 114,000 dwt Tanker Daewoo 2014 $50.00 1 104,300 dwt Tanker Sumitomo 2014 $45.00 Scorpio Tankers Lundqvist Rederierna LR2 4 180,000 dwt Bulker STX Dalian 2014/15 n/a Frontline 2012 1 82,000 dwt Bulker Sinopacific n/a n/a Greek buyers Options exercised 2 1,800 teu Container CSBC 2014 $24.00 2 1,000 teu Container Hakata Zosen SITC International Holdings 2014 n/a Mitsui Corp. +2 +4 options WeberSeas, Weekly Market Report Page 6 of 10
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 910 933-23 -2.47% Baltic Capesize 1249 1284-35 -2.73% Baltic Panamax 1176 1208-32 -2.65% Baltic Supramax 944 978-34 -3.48% Baltic Handysize 547 542 5 0.92% 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 9000 8000 7000 6000 5000 4000 3000 2000 1000 29-Jan-09 29-Mar-09 0 29-Jan-09 29-Mar-09 29-May-09 29-Jul-09 29-Sep-09 29-Nov-09 29-Jan-10 29-May-09 29-Jul-09 29-Sep-09 29-Nov-09 29-Jan-10 29-Mar-10 29-May-10 29-Jul-10 29-Sep-10 29-Nov-10 29-Jan-11 29-Mar-11 29-Mar-10 29-May-10 29-Jul-10 29-Sep-10 29-Nov-10 29-Jan-11 29-Mar-11 29-May-11 29-Jul-11 B D I 29-May-11 29-Jul-11 B C I 29-Sep-11 29-Nov-11 29-Jan-12 29-Mar-12 29-Sep-11 29-Nov-11 29-Jan-12 29-Mar-12 29-May-12 29-Jul-12 29-Sep-12 29-Nov-12 29-Jan-13 29-Mar-13 29-May-12 29-Jul-12 29-Sep-12 29-Nov-12 29-Jan-13 29-Mar-13 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 29-Jan-09 29-Mar-09 29-May-09 29-Jul-09 29-Sep-09 29-Nov-09 29-Jan-10 29-Mar-10 29-May-10 29-Jul-10 29-Sep-10 29-Nov-10 29-Jan-11 29-Mar-11 29-May-11 29-Jul-11 29-Sep-11 29-Nov-11 29-Jan-12 29-Mar-12 29-May-12 29-Jul-12 29-Sep-12 29-Nov-12 29-Jan-13 29-Mar-13 B P I WeberSeas, Weekly Market Report Page 7 of 10
Baltic Clean Tanker Baltic Dirty Tanker BALTIC WET EX RATES THIS LAST % 691 704-13 -1.85% 661 677-16 -2.36% 1000 900 800 700 600 500 400 300 200 100 0 29-Jan-09 29-Mar-09 29-May-09 29-Jul-09 29-Sep-09 29-Nov-09 29-Jan-10 29-Mar-10 29-May-10 29-Jul-10 29-Sep-10 29-Nov-10 29-Jan-11 29-Mar-11 29-May-11 29-Jul-11 29-Sep-11 BCTI 29-Nov-11 29-Jan-12 29-Mar-12 29-May-12 29-Jul-12 29-Sep-12 29-Nov-12 29-Jan-13 29-Mar-13 1400 1200 1000 800 600 400 200 0 29-Jan-09 29-Mar-09 29-May-09 29-Jul-09 29-Sep-09 29-Nov-09 29-Jan-10 29-Mar-10 29-May-10 29-Jul-10 29-Sep-10 29-Nov-10 29-Jan-11 29-Mar-11 29-May-11 29-Jul-11 29-Sep-11 29-Nov-11 29-Jan-12 29-Mar-12 29-May-12 29-Jul-12 29-Sep-12 29-Nov-12 29-Jan-13 29-Mar-13 BDTI WeberSeas, Weekly Market Report Page 8 of 10
MAJOR CAPITAL MARKETS INDEX THIS LAST % S HIGH S LOW DOW JONES 14,6.16 14,421.40 104.76 0.73% 14,585.10 12.035.10 NASDAQ 3,267. 3,222.30 45.22 1.40% 3,270.30 2,726.68 AIM 731.10 742.10-11.00-1.48% 803.50 661.60 NIKKEI 12,335.96 12,635.69-299.73-2.37% 12,650.30 8,238.96 PUBLIC COMPANIES DRY-CARGO SECTOR NAME SYMBOL THIS LAST % HIGH LOW DIANA DSX 10.71 9.60 1.11 11.56% 11.09 5.89 DRYSHIPS DRYS 2.09 2.09 0.00 0.00% 3.59 1.46 EAGLE BULK EGLE 3.65 3.41 0.24 7.04% 8.12 1.32 EXCEL MARITIME EXM 1.10 0.90 0.20 22.22% 2.07 0.36 GENCO GNK 2.89 3.01-0.12-3.99% 6.60 2.09 GOLDENPORT HOLDINGS GPRT.L 34.75 36.00-1.25-3.47% 91.00 34.00 NAVIOS HOLDINGS NM 4.47 4.51-0.04-0.89% 4.65 3.08 NAME SYMBOL TANKER/ENERGY SECTOR THIS LAST % HIGH LOW CAPITAL PRODUCT PARTNERS CPLP 8.23 8.18 0.05 0.61% 8.80 5.79 STEALTHGAS GASS 11.97 11.63 0.34 2.92% 12.10 5.17 TEN TNP 4.31 3.97 0.34 8.56% 9.14 3.04 NAME SYMBOL CONTAINER SECTOR THIS LAST % HIGH LOW DANAOS DAC 4.00 3.56 0.44 12.36% 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 9 of 10
RATES OF EX THIS LAST % Euro / $ 1.2813 1.2989-0.0176-1.35% Sterling / $ 1.5185 1.10-0.0025-0.16% $ / Yen 94.165 94.895-0.730-0.77% $ / Nok 5.8501 5.8047 0.05 0.78% $ / Won 1,110.50 1,118.18-7.68-0.69% Brent Crude 110.02 107.77 2.25 2.09% LIBOR (3-month) 0.28% 0.28% 0 0.00% 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 $17.75m $12.0m $5m Supramax/Handymax $25.0m $18.0m $13.25m $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) 18.750/D 23,750/D SUEZMAX (150,000 dwt) 16,250/D 18.500/D AFRAMAX (110,00 dwt) 13,750/D 15.250/D PANAMAX (72,000 dwt) 14.000/D 14,750/D MR (45-50,000 dwt) 14.000/D 14,750/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 380cst: $608.50 $639.00 $630.50 $633.00 180cst: $631.50 $687.50 $661.00 $643.50 MGO: $901.50 $1020.00 $936.50 $905.00 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 10 of 10