LY MARKET REPORT October 12th, 212 / Week 41 A huge increase in the panamax market with the BPI gaining just over 45% for the week. Panamax charter rates increased significantly as fixing was strengthened on the back of strong demand for thermal coal by Chinese power stations. Low stockpiles are to be blamed which fell below their normal minimum margins. As an example, stockpiles at the port of Qinhuangdao fell to 5.5 million tons which is below the government's target of 7 million tons for that port. The port of Qinhuangdao handles about 4 percent of all China's coastal thermal coal trade. There is activity in the second hand market in both dry and wet as there are buyers willing to take positions despite the volatility and uncertainty of the current market. Greek buyers have purchased enbloc five resale bulkers from New Times in China all scheduled for delivery fourth quarter 212. The ships in question are one 176, Dwt caper, one 115, Dwt mini cape and three 82, Dwt Kamsas. The deal is for a reported price of US$ 145 million. Greek buyers have also purchased one resale 98, dwt port panamax for US$ 24.6 mill scheduled for delivery Tsuneishi Zhousan, China. We are also reporting the sale of the supramax VEGA PIONEER (,466 Dwt / blt 22 Japan) to Germans for US$ 14.5 million In the tanke sector, Greek buyers purchased two modern LR-1 s on private terms, namely the RIO LUXEMBOURG and RIO LILLEHAMMER (75,338 Dwt / Blt 211 Korea). Japanese owners Nisshin continue to sell MR tankers with the latest sale being the SEAEDEN (45,983 Dwt / Blt 27 Japan) sold for US$ 18.25 mill to Far Eastern buyers. Middle Eastern buyers seem to be behind the enbloc deal of four 22 built Bottiglieri 4, dwt MR tankers (MANUELA/MARIELA/GHETTY/ALESSANDRA BOTTIGLIERI, all built in Hyundai Korea). Newbuilding activity is practically absent. We are however reporting five bulkers ordered by German owners in Jinling China for a total US$ 123 mill. The vessels are two 82, Dwt Kamsas and three 39, Dwt handysizes. Demolition continues with strong numbers being paid in India, anywhere from low to mid 4's. Pakistan and China are lagging behind in both prices and volume and Bangladesh continues to be absent. WeberSeas, Weekly Market Report Page 1 of 9
TANKERS RIO LUXEMBOURG 75,338/11 - HYUNDAI - B&W 19,415 - COILED - COATED - SBT - IGS - COW DH - SS 1/216, DD 1/214 RIO LILLEHAMMER 75,338/11 - HYUNDAI - B&W 19,415 - COILED - COATED - SBT - IGS COW DH - SS 4/216, DD 4/214 Sold on private terms to Greek based buyers (Flagship Marine Ventures). SEAEDEN 45,983/7 - KURUSHIMA - B&W 12,889 - COATED - COILED - SBT - IGS - COW - DH SS 4/217, DD 7/215 Sold for $18.25 mill to Far Eastern buyers. MANUELA BOTTIGLIERI 4,166/2 - HYUNDAI - B&W 11,64 - COILED - COATED - SBT - IGS COW - DH - SS 1/217, DD 1/215 MARIELLA BOTTIGLIERI 4,166/2 - HYUNDAI - B&W 11,64 - COILED - COATED - SBT - IGS COW - DH - SS 4/217, DD 4/215 GHETTY BOTTIGLIERI 4,166/2 - HYUNDAI - B&W 11,64 - COILED - COATED - SBT - IGS COW - DH - SS 6/217, DD 7/215 ALESSANDRA BOTTIGLIERI 4,166/2 - HYUNDAI - B&W 11,64 - COILED - COATED - SBT - IGS COW - DH - SS 8/217, DD 5/215 Sold on private terms to Dubai based buyers. GREEN FOREST 19,996/ - RUSSIA - B&W 12,881 - COATED - COILED - SBT - IGS - COW - DH Sold at an auction for $3 mill to Greek buyers on as is basis. LPG SIGLOO ESPOO 13,4/85 - NORWAY - SUL 8,16 - IGS - SBT - 1,875 CBM Sold for $7.5 mill to Dubai based buyers. GLOBAL RIVER 7,533/11 - TAIXING GANGHUA - B&W 5,311 - COATED - COILED - SBT - IGS - DH SS 3/216, DD 3/214 GLOBAL SUN 4,39/11 - YIZHENG YANGZI - B&W 3,48 - COATED - COILED - SBT - IGS - DH SS 4/216, DD 4/214 Sold en bloc for $15.5 mill to undisclosed buyers. BULKERS NEW TIMES 176,/12 - NEW TIMES - B&W 22,923-9HH NEW TIMES 115,/12 - NEW TIMES - B&W 18,436-9HH 3 x NEW TIMES 82,/12 - NEW TIMES - B&W 16,179-7HH Sold en bloc for $145 mill to Greek buyers (Dynacom). NSS ADVANCE 173,246/95 - SASEBO - B&W 2,7-9HH - SS 11/215, DD 11/213 Sold for $1 mill to Greek buyers. TSUNEISHI ZHOUSHAN 98,72/12 - TSUNEISHI ZHOUSHAN - B&W 18,436-7HH Sold for $24.6 mill to Greek buyers (Diana Shipping). VEGA PIONEER,466/2 - SANOYAS - B&W 12,87-5HH - C 4X3T - SS 8/217, DD 7/215 Sold for $14.5 mill to German buyers (Oldendorff Carriers). WeberSeas, Weekly Market Report Page 2 of 9
KS SPIRIT 48,913/99 - IHI - SUL 1,469-5HH - C 4X25T - SS /214, DD 4/212 Sold for $1 mill to Greek based buyers (Chekka Shipping). OLYMPIC MELODY 29,64/84 - SASEBO - SUL 9635-5HH - C 4X16T - SS 11/214, DD 11/212 Sold for $2.8 mill to Turkish buyers. CONTAINERS HIGH ENERGY 9,41/92- GERMANY- B&W 9,28-3HO 5HA - C 2X4T - 626 TEU - SS/DD 6/212 Sold for $3 mill to South American buyers. FRESH FOR SALE BULKERS "GIUSEPPE RIZZO 77,684/4 - CSBC - B&W 1,1-7HH Vessel inspectable in Jorf Lasfar, Morocco where ETA 16th October. "YM CULTIVATION 69,163/96 - KOYO MIHARA - SUL 13,51-7HH Vessel is currently in China for about 4-5 days where inspectable "LORD HINTON 22,447/96 - UNITED KINGDOM - MIRRLEES 5,92-4HH She is regularly trading between Dunkirk and Kingsnorth where inspectable. CONTAINERS "ESTEBROKER 34,15/99 - GERMANY - B&W 26,934-5HO 1HA - C 3X45T - 2,6 TEU Vessel is trading Levante/Black Sea and calling Piraeus every fortnight where inspectable. Next call 16th October. WeberSeas, Weekly Market Report Page 3 of 9
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 212 THIS DATE 211 211 TOTAL 21 TOTAL ULCC/VLCC 8 1 14 14 SUEZMAX 14 3 4 1 AFRAMAX 21 21 24 14 PANAMAX TANKER 2 5 5 1 CAPE/COMBO (1, dwt +) 59 58 6 15 PANAMAX/KAMSARMAX BULKER 75 49 54 6 LOCATION TANKERS BULK CARRIERS CHINA 325-335 31-32 INDIA 425-44 41-425 BANGLADESH 39-41 365-38 PAKISTAN 42-44 4-415 DEMOLITION: INDIA M/V ERRADALE STAR" M/V VENUS N " M/V OCEAN M" M/V JASMIN M/V UNION FORCE CONT R. PARTNER (Including 12T bunkers ROB) CONT DP GENEVA REEFER MONTEVIDEO 163,554/94-22,75 LDT - USD 42/LDT 41,63/86-8,23 LDT - USD 426/LDT 39,925/82-7,788 LDT - USD 428/LDT 36,663/85-1,328 LDT - USD 43/LDT 19,862/84-5,194 LDT - USD 444/LDT - old sale 2,225/94-6,79 LDT - USD 448/LDT 12,583/92-5,284 LDT - USD 445/LDT 8,489/83-4,913 LDT - USD 39/LDT PAKISTAN M/V WUGANG STAR M/T LION 187,575/91-25,662 LDT - USD 395/LDT 46,538/89-9,55 LDT - USD 435/LDT CHINA M/T PANAMAX LEADER 66,647/89-11,696 LDT - USD 323/LDT WeberSeas, Weekly Market Report Page 4 of 9
TYPE OF SHIP NEWBUILDING STATISTICS 212 213 214 215 216 * TOTAL ORDERBOOK ULCC/VLCC 2 39 14 3 1 77 SUEZMAX 14 4 1 5 4 73 AFRAMAX 13 32 22 7 2 76 PANAMAX 5 34 32 71 MR 33 96 55 13 197 1-35, DWT 23 57 19 99 CAPESIZE/ MINI CAPE / VLOC 8-1, DWT 128 34 7 221 78 162 61 19 2 322 PANAMAX 44 19 18 1 172 SUPRAMAX / HANDYMAX 12 22 64 7 2 395 HANDYSIZE 74 222 71 33 5 45 * Includes ALL vessels on order NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 2 82, dwt Bulker 3 39, dwt Bulker Jinling Shipbuilding Jinling Shipbuilding 214/15 n/a 214/15 n/a Oldendorff Carriers Oldendorff Carriers low fuel consumption B Delta design / ice class WeberSeas, Weekly Market Report Page 5 of 9
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 926 875 51 5.83% Baltic Capesize 1914 1932-18 -.93% Baltic Panamax 871 598 273 45.65% Baltic Supramax 776 795-19 -2.39% Baltic Handysize 444 444.% 14 12 1 8 6 4 2 25 2 15 1 5 11-Apr-5 11-Jul-5 11-Oct-5 14 12 1 8 6 4 2 4-Apr-5 4-Jul-5 4-Oct-5 11-Apr-5 11-Jul-5 11-Oct-5 11-Jan-6 11-Apr-6 11-Jul-6 11-Oct-6 11-Jan-7 11-Apr-7 11-Jul-7 11-Oct-7 11-Jan-8 11-Apr-8 11-Jul-8 11-Oct-8 11-Jan-9 11-Apr-9 11-Jul-9 11-Oct-9 11-Jan-1 11-Apr-1 11-Jul-1 11-Oct-1 11-Jan-11 11-Apr-11 11-Jul-11 11-Oct-11 11-Jan-12 11-Apr-12 11-Jul-12 11-Oct-12 WeberSeas, Weekly Market Report Page 6 of 9 B D I 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-Jan-9 4-Apr-9 B C I 11-Jan-6 11-Apr-6 11-Jul-6 11-Oct-6 11-Jan-7 11-Apr-7 11-Jul-7 11-Oct-7 11-Jan-8 11-Apr-8 11-Jul-8 11-Oct-8 11-Jan-9 11-Apr-9 B P I 11-Jul-9 11-Oct-9 11-Jan-1 11-Apr-1 11-Jul-1 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 4-Jan-12 4-Apr-12 4-Jul-12 4-Oct-12 11-Oct-1 11-Jan-11 11-Apr-11 11-Jul-11 11-Oct-11 11-Jan-12 11-Apr-12 11-Jul-12 11-Oct-12
BALTIC WET EX RATES THIS LAST % Baltic Clean Tanker 619 626-7 -1.12% Baltic Dirty Tanker 667 664 3.45% 2,5 2, 1,5 1, 5 2,5 2, 1,5 1, 5 3-May-5 6-Jul-5 8-Sep-5 1-Nov-5 22-Feb-5 28-Apr-5 4-Jul-5 2-Jan-6 24-Mar-6 1-Jun-6 3-Aug-6 6-Oct-6 8-Dec-6 19-Feb-7 23-Apr-7 25-Jun-7 28-Aug-7 3-Oct-7 1-Sep-8 13-Mar-8 2-May-8 3-Jul-8 2-Oct-8 11-Dec-8 2-Feb-9 28-Apr-9 2-Jul-9 6-Sep-5 8-Nov-5 18-Jan-6 22-Mar-6 3-May-6 1-Aug-6 4-Oct-6 6-Dec-6 15-Feb-7 19-Apr-7 21-Jun-7 23-Aug-7 26-Oct-7 1-Jul-8 11-Mar-8 16-May-8 28-Jul-8 3-Sep-8 9-Dec-8 18-Feb-9 24-Apr-9 BCTI BDTI 4-Sep-9 6-Nov-9 19-Jan-1 23-Mar-1 28-May-1 2-Aug-1 3-Jun-9 2-Sep-9 4-Nov-9 15-Jan-1 19-Mar-1 5-Oct-1 7-Dec-1 16-Feb-11 2-Apr-11 23-Jun-11 25-Aug-11 28-Oct-11 9-Jan-12 12-Mar-12 17-May-12 23-Jul-12 4-Οκτ-12 26-May-1 29-Jul-1 1-Oct-1 3-Dec-1 14-Feb-11 18-Apr-11 21-Jun-11 23-Aug-11 26-Oct-11 5-Jan-12 8-Mar-12 15-May-12 19-Jul-12 2-Oct-12 WeberSeas, Weekly Market Report Page 7 of 9
MAJOR CAPITAL MARKETS INDEX THIS LAST % S HIGH S LOW DOW JONES 13,318.62 13,575.36-256.74-1.89% 13,653.2 1,44.5 NASDAQ 3,49.41 3,149.46-1.5-3.18% 3,195.67 2,298.89 AIM 73.8 75.3-1.5 -.21% 829.1 657.8 NIKKEI 8,534.12 8,824.59-29.47-3.29% 1,255.2 8,135.79 PUBLIC COMPANIES NAME SYMBOL DRY-CARGO SECTOR THIS LAST % HIGH LOW DIANA DSX 6.72 6.72..% 1.1 5.89 DRYSHIPS DRYS 2.32 2.27.5 2.2% 3.84 1.91 EAGLE BULK EGLE 3.1 3.47 -.37-1.66% 9.8 2.51 EXCEL MARITIME EXM.51.84 -.33-39.29% 3.3.4 GENCO GNK 3.68 4.8 -.4-9.8% 1.14 2.9 GOLDENPORT HOLDINGS GPRT.L 44. 44...% N/A N/A NAVIOS HOLDINGS NM 3.55 3.65 -.1-2.74% 4.49 3.8 NAME SYMBOL TANKER/ENERGY SECTOR THIS LAST % HIGH LOW CAPITAL PRODUCT PARTNERS CPLP 8.18 8.21 -.3 -.37% 8.8 5.57 STEALTHGAS GASS 6.62 6.46.16 2.48% 7. 3.6 TEN TNP 4.67 5. -.33-6.6% 9.14 4.61 NAME SYMBOL CONTAINER SECTOR THIS LAST % HIGH LOW DANAOS DAC 2.91 2.89.2.69% 4.88 2.43 * 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 / $ 1.2945 1.363 -.118 -.9% Sterling / $ 1.673 1.6199 -.126 -.78% $ / Yen 78.347 78.633 -.286 -.36% $ / Nok 5.7153 5.6653.5.88% $ / Won 1,11.55 1,18. 2.55.23% Brent Crude 114.48 111.87 2.61 2.33% LIBOR (3-month).35%.35%.% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 1 YEARS 2 YEARS VLCC $88.m $6.m $4.m $22.m Suezmax $57.m $45.m $25.m $1.5m Aframax $39.m $29.m $16.m $8.m Panamax $37.m $27.5m $17.m $7.m Product $32.m $21.5m $15.m $4.5m BULK CARRIERS PROMPT RESALE 5 YEARS 1 YEARS 2 YEARS Capesize $4.m $32.m $22.m $8.m Panamax/Kamsarmax $29.m $22.5m $15.5m $7.5m Supramax/Handymax $25.m $19.m $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 (3, dwt) 19,75/D 23,5/D SUEZMAX (15, dwt) 16,75/D 19,75/D AFRAMAX (11, dwt) 13,75/D 16,/D PANAMAX (72, dwt) 13,/D 14,25/D MR (45-5, dwt) 13,25/D 14,25/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 38cst: $622.5 $648. $656.5 $645. 18cst: $648.5 $67.5 $695. $6.5 MGO: $994.5 $13. $139.5 $967. 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. 212 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 9 of 9