WEEKLY MARKET REPORT March 2nd, 2012 / Week 9 Whilst the BCI and BPI made small improvements this week, it was the smaller sectors that made the difference pushing the overall BDI to a 7% increase. The BSI and BHSI increased 12.5% and 10.6% respectively. As the market has managed to stabilize itself in the last two weeks, activity in the second hand market is improving slightly. We are seeing a steady stream of purchase enquiries from the Far Eastern but also the Greek markets. This week we are reporting a fair number of deals. The 2005 built panamax MINERAL STAR (76,286 dwt / blt 2005 Japan) seems to have been sold for US$ 21.60 million to Greek buyers. We remind you that during November 2011 the Peppino D'Amato (75,698 dwt / blt 2005 Japan) was sold for US$ 28.7 million. Two handysize bulkers have also been sold at fresh low price levels. The KEN ANN MARU (32,115 dwt / blt 1997 Japan) has been sold for US$ 9.5 million to Greeks and the LUPINUS (31,700 dwt / blt 2005 Japan) has been sold for US$ 16.3 million to Swiss buyers. In the tanker sector two aframaxes have been committed. The FRANKOPAN (101,605 dwt / blt 1995 Croatia) has been sold for US$ 9.2 million to Venezuelan buyers and the HAMANE SPIRIT (98,629 dwt / blt 1997 Japan) has been sold for US$ 9.75 million to undisclosed buyers. Surprisingly, we are also reporting a good number of newbuildings, mostly at Chinese yards. The most notable being the 2 +4 options 64,000 Dwt supramaxes ordered by Greeks at Cosco Corp for US$ 28 million each for delivery 2014. Scrapping of older vessels is still ranging at high levels, as more and more owners have realized that demolition activity is one of the most crucial elements in helping the balance of the supply and demand in view to improve the freight market. Prices have remained steady although they are under pressure since the buyers are able to pick and choose in view of the increased supply of tonnage for scrap. TANKERS FRANKOPAN 101,605/95 - CROATIA - B&W 14,194 - COILED - SBT - IGS - COW - DH SS 08/2015, DD 09/2013 Sold for $9.2 mill. to Venezuelan buyers. WeberSeas, Weekly Market Report Page 1 of 10
HAMANE SPIRIT 98,629/97 - ONOMICHI - B&W 17,849 - COILED - SBT - IGS - COW - DH SS/DD 06/2012 Sold for $9.75 mill. to undisclosed buyers. LPG MAHARSHI LABHATREYA 20,561/82 - NORWAY - SUL 13,000 - SBT - IGS - 24,047 CBM SS/DD 05/2012 Sold for $12 mill. to undisclosed buyers for a storage project in West Africa. KALIA 5,771/99 - TURKEY - ALPHA 2,665 - COATED - COILED - SBT - DH Sold at an auction for $3.4 mill. to Greek buyers. LPG ONCOR 3,659/87 - SPAIN - ALPHA 3,419 - COILED - SBT - IGS - DH - SS/DD 10/2012 Sold for $2.2 mill. to Peruvian buyers. BULKERS STAR YPSILON 150,940/91 - NAMURA - B&W 15,181-9HH - SS 06/2014, DD 06/2012 Sold for $9.12 mill. to Asian buyers. AVOCA 76,629/04 - IMABARI - B&W 14,031-7HH - SS 07/2014, DD 06/2012 PADRE 73,601/04 - JIANGNAN - B&W 13,868-7HH - SS/DD 03/2014 Sold en bloc for $80.5 mill. to current charterers (Cosco). Avoca was on t/c till September 2013 at $45,500 per day, while Padre till September 2012 at $46,500 per day. MINERAL STAR 76,286/05 - TSUNEISHI - B&W 14,276-7HH - SS 01/2015, DD 09/2012 Sold for $21.6 mill. to Greek buyers. POSITANO 73,288/00 - SUMITOMO - SUL 12,071-7HH - SS/DD 01/2015 Sold on private terms to current charterers (Cosco). LABRO 41,093/84 - OSHIMA - SUL 8,670-5HH - C 4X25T - SS 03/2015, DD 03/2013 Sold for $4.2 mill. to undisclosed buyers. KEN ANN MARU 32,115/97 - ONOMICHI - MIT 9,600-5HH - C 4X30T - SS/DD 07/2012 Sold for $9.5 mill. to Greek buyers. LUPINUS 31,700/05 - SAIKI - MIT 9,626-5HH - C 4X30T - SS 03/2015, DD 01/2013 Sold for $16.3 mill. to Swiss buyers. KOPALNIA HALEMBA 11,715/90 - POLAND - B&W 6,377-5HH - C 4X16T, 1X12.5 SS 10/2015, DD 10/2013 Sold for $3.25 mill. to undisclosed buyers. CONTAINERS X-PRESS ANNAPURNA 22,314/08 - CSBC - B&W 21,490-5HH - C 2X40T - 1,713 TEU X-PRESS DHAULAGIRI 22,314/08 - CSBC - B&W 21,490-5HH - C 2X40T - 1,713 TEU Sold en bloc for $22 mill. each to German buyers. Sale includes t/c to MCC for 5 years. WeberSeas, Weekly Market Report Page 2 of 10
PAUL RICKMERS 14,191/93 - POLAND - B&W 9,422-4HO 8HA - C 3X40T - 1,162 TEU PETER RICKMERS 14,120/93 - POLAND - B&W 9,422-4HO 8HA - C 3X40T - 1,156 TEU MARIA RICKMERS 14,069/93 - POLAND - B&W 9,422-4HO 8HA - C 3X40T - 1,162 TEU Sold en bloc for $14 mill. to Malaysian buyers (MTT). JOHAN PROSPER 13,177/08 - LINHAI HANGCHANG - PIELSTICK 5,982-3HH - 908 TEU JOHAN SUCCESS 12,189/07 - NINGBO BODA - PIELSTICK 5,898-713 TEU JOHAN FORTUNE 12,000/05 - NINGBO BODA - PIELSTICK 5,200-713 TEU JOHAN BRIGHT 7,6/80 - SINGAPORE - MIT 4,000-2HH - 431 TEU (tweendecker) JOHAN CRYSTAL DUA 7,356/79 - CSBC - B&W 5,320-6HH - C 1X30.5-335 TEU JOHAN STAR 7,350/81 - SINGAPORE - MIT 4,000-2HH - 431 TEU (tweendecker) JOHAN EMERALD 6,340/76 - YAMANISHI - B&W 5,600-3HO 6HA - C 2X30T - 358 TEU (tweendecker) JOHAN AMBER 5,944/77 - TSUNEISHI - B&W 6,151-6HO 11HA - 3 TEU Sold en bloc for $33 mill. to Malaysian buyers. FRESH FOR SALE BULKERS CAPE KESTREL 161,475/93 - HYUNDAI - B&W 19,380-9HH Vessel will be inspectable in Lazaro Cardenas, Mexico till 5th March. CAPE FALCON 161,475/93 - HYUNDAI - B&W 19,380-9HH CAPE EAGLE 161,475/93 - HYUNDAI - B&W 19,380-9HH Vessel will be inspectable in Singapore, where ETA 10th March. ERIDGE 122,792/93 - DAEWOO - B&W 16,189-9HH Vessel is currently inspectable in Fangcheng, China. DUHALLOW 122,774/93 - DAEWOO - B&W 16,189-9HH Vessel is regularly inspectable in Taiwan. SERASIH 2 48,913/99 - IHI - SUL 10,469-5HH - C 4X25T Vessel is currently inspectable in Chang Jiang Kou, China. SELARAS 45,734/94 - TSUNEISHI - B&W 9,751-5HH - C 4X25T Vessel is currently inspectable in Domenican Republic, where waiting for orders. CLIPPER VALOUR 34,790/03 - TIANJIN XINGANG - SUL 10,816-5HH - C 4X30T Vessel will be inspectable in Portland, U.S.A., where ETA 6th March. WeberSeas, Weekly Market Report Page 3 of 10
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2012 THIS DATE 2011 2011 TOTAL 2010 TOTAL ULCC/VLCC 4 2 14 14 SUEZMAX 3 0 4 10 AFRAMAX 3 3 24 14 PANAMAX TANKER 1 0 5 10 CAPE/COMBO (100,000 dwt +) 8 12 60 15 PANAMAX/KAMSARMAX BULKER 22 9 54 6 LOCATION TANKERS BULK CARRIERS CHINA 425 415 INDIA 485 475 BANGLADESH 480 465 PAKISTAN 495 470 DEMOLITION: INDIA M/V PIONEER SKY M/V JIA XIN M/V ST. GEORGE M/V ALBERTA M/V GOKCAN (including 450 tonnes of bunkers ROB) M/V ZOITSA CONT TROYBURG (including 500 tonnes of bunkers ROB) REEF KASUGA BAY 81,659/83-16,774 LDT - USD 487/LDT 66,755/83-12,247 LDT - USD 486/LDT,670/87-12,163 LDT - USD 480/LDT 37,017/84-7,881 LDT - USD 477/LDT 36,955/84-7,738 LDT - USD 510/LDT 26,991/78-6,442 LDT - USD 500/LDT 26,1/88-7,540 LDT - USD 475/LDT - as is Singapore 10,641/84-5,500 LDT - USD 475/LDT REEF VIKING STAR 9,157/91-4,124 LDT - USD 485/LDT - as is Fujairah (including sufficient quantity of bunkers for a voyage to WCI) BANGLADESH M/T OCEAN SAPPHIRE 147,273/92-20,624 LDT - USD 488/LDT WeberSeas, Weekly Market Report Page 4 of 10
PAKISTAN M/T ANTIPAROS 269,065/92-33,724 LDT - USD 502/LDT CHINA M/V HYUNDAI COSMOS (including 450 tonnes of bunkers ROB) M/V PACIFIC MAKASSAR En bloc with: M/V PACIFIC CELEBES En bloc with: M/V PACIFIC FLORES En bloc with: M/V PACIFIC JAVA 163,256/86-20,804 LDT - USD 443/LDT - as is N. China 41,949/84-13,677 LDT - USD 412.5/LDT 41,600/86-13,677 LDT - USD 412.5/LDT 41,600/84-13,677 LDT - USD 412.5/LDT 41,600/84-13,677 LDT - USD 412.5/LDT WeberSeas, Weekly Market Report Page 5 of 10
TYPE OF SHIP NEWBUILDING STATISTICS 2012 2013 2014 2015 2016 * TOTAL ORDERBOOK ULCC/VLCC 50 42 10 102 SUEZMAX 50 37 87 AFRAMAX 39 29 16 4 88 PANAMAX 18 33 22 9 82 MR 73 82 15 170 10-35,000 DWT 78 31 4 1 114 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 213 82 23 3 321 278 120 39 2 439 PANAMAX 110 48 9 167 SUPRAMAX / HANDYMAX 366 154 20 540 HANDYSIZE 286 158 29 473 * Includes ALL vessels on order NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 2 95,000 dwt Bulker Yangzijiang 2014 $34 Fusco 2 64,000 dwt Bulker Cosco Corp Early 2014 $28 Lomar Shipping + 4 options 1 82,000 cbm VLGC Hyundai HI End 2013 $76.5 SK Shipping 4 1,100 teu Container Yangfan Group 2013 $18 Ningbo Ocean Shipping Old order WeberSeas, Weekly Market Report Page 6 of 10
BALTIC DRY EXCHANGE RATES THIS WEEK LAST WEEK CHANGE CHANGE % Baltic Dry Index 771 718 53 7.38% Baltic Capesize 15 1504 21 1.40% Baltic Panamax 844 836 8 0.96% Baltic Supramax 745 662 83 12.54% Baltic Handysize 437 395 42 10.63% 14000 12000 10000 8000 6000 4000 2000 0 25000 20000 15000 10000 5000 4-Jan-05 4-Apr-05 4-Jul-05 0 14000 12000 10000 8000 6000 4000 2000 0 4-Jan-05 4-Apr-05 4-Jul-05 18-Jan-05 18-Apr-05 18-Jul-05 4-Oct-05 4-Jan-06 4-Apr-06 4-Jul-06 4-Oct-06 4-Jan-07 4-Apr-07 4-Jul-07 4-Oct-07 4-Jan-08 4-Apr-08 4-Jul-08 4-Oct-08 4-Oct-05 4-Jan-06 4-Apr-06 4-Jul-06 4-Oct-06 4-Jan-07 4-Apr-07 4-Jul-07 4-Oct-07 4-Jan-08 4-Apr-08 4-Jul-08 18-Oct-05 18-Jan-06 18-Apr-06 18-Jul-06 18-Oct-06 18-Jan-07 18-Apr-07 18-Jul-07 18-Oct-07 18-Jan-08 18-Apr-08 18-Jul-08 4-Jan-09 4-Apr-09 4-Jul-09 4-Oct-09 4-Jan-10 4-Apr-10 4-Jul-10 4-Oct-10 4-Jan-11 4-Apr-11 4-Jul-11 4-Oct-11 4-Jan-12 WeberSeas, Weekly Market Report Page 7 of 10 BDI 4-Oct-08 4-Jan-09 4-Apr-09 BCI 18-Oct-08 18-Jan-09 BPI 4-Jul-09 4-Oct-09 4-Jan-10 4-Apr-10 4-Jul-10 4-Oct-10 4-Jan-11 4-Apr-11 4-Jul-11 4-Oct-11 4-Jan-12 18-Apr-09 18-Jul-09 18-Oct-09 18-Jan-10 18-Apr-10 18-Jul-10 18-Oct-10 18-Jan-11 18-Apr-11 18-Jul-11 18-Oct-11 18-Jan-12
BALTIC WET EXCHANGE RATES THIS WEEK LAST WEEK CHANGE CHANGE % Baltic Clean Tanker 707 734-27 -3.68% Baltic Dirty Tanker 790 798-8 -1.00% 2,500 2,000 1,500 1,000 500 0 11-Jan-05 15-Mar-05 20-May-05 2,500 2,000 1,500 1,000 500 0 11-Jan-05 15-Mar-05 20-May-05 25-Jul-05 27-Sep-05 29-Nov-05 8-Feb-06 12-Apr-06 20-Jun-06 22-Aug-06 25-Oct-06 4-Jan-07 8-Mar-07 10-May-07 12-Jul-07 14-Sep-07 16-Nov-07 28/01/2008 3-Apr-08 9-Jun-08 18-Aug-08 21-Oct-08 25-Jul-05 27-Sep-05 29-Nov-05 8-Feb-06 12-Apr-06 20-Jun-06 22-Aug-06 25-Oct-06 4-Jan-07 8-Mar-07 10-May-07 12-Jul-07 14-Sep-07 16-Nov-07 28/01/2008 3-Apr-08 9-Jun-08 18-Aug-08 21-Oct-08 BCTI BDTI 7-Jan-09 11-Mar-09 18-May-09 21-Jul-09 23-Sep-09 25-Nov-09 7-Jan-09 11-Mar-09 18-May-09 21-Jul-09 23-Sep-09 25-Nov-09 5-Feb-10 13-Apr-10 17-Jun-10 19-Aug-10 22-Oct-10 24-Dec-10 7-Mar-11 9-May-11 12-Jul-11 14-Sep-11 16-Nov-11 26-Jan-12 5-Feb-10 13-Apr-10 17-Jun-10 19-Aug-10 22-Oct-10 24-Dec-10 7-Mar-11 9-May-11 12-Jul-11 14-Sep-11 16-Nov-11 26-Jan-12 WeberSeas, Weekly Market Report Page 8 of 10
MAJOR CAPITAL MARKETS INDEX THIS WEEK* LAST WEEK* CHANGE CHANGE % WEEKS HIGH WEEKS LOW DOW JONES 12,980.30 12,938.08 42.22 0.33% 13.087.20 10,362.30 NASDAQ 2,988.97 2,956.98 31.99 1.08% 3,000.11 2,298.89 AIM 828.40 798.00 30.40 3.81% 938.20 657.80 NIKKEI 9,707.37 9,594.85 112. 1.17% 10,768.40 8,135.79 NAME SYMBOL PUBLIC COMPANIES DRY-CARGO SECTOR THIS WEEK* LAST WEEK* CHANGE CHANGE % WEEK HIGH WEEK LOW DIANA DSX 9.24 9.17 0.07 0.76% 12.66 6.59 DRYSHIPS DRYS 3.51 3.60-0.09-2.50% 5.12 1.75 EAGLE BULK EGLE 1.60 1.84-0.24-13.04% 4.15 0.88 EXCEL MARITIME EXM 1.79 1.99-0.20-10.05% 4.92 1.37 GENCO GNK 6.92 7.10-0.18-2.54% 12.49 4.15 GOLDENPORT HOLDINGS GPRT.L 70.25 70.00 0.25 0.36% 116.00 57.00 NAVIOS HOLDINGS NM 4.14 3.86 0.28 7.25% 5.99 2.88 NAME SYMBOL TANKER/ENERGY SECTOR THIS WEEK* LAST WEEK* CHANGE CHANGE % WEEK HIGH WEEK LOW CAPITAL PRODUCT PARTNERS CPLP 7.42 7.70-0.28-3.64% 11.39 4.85 STEALTHGAS GASS 4.98 4.55 0.43 9.45% 7.20 3.4 TEN TNP 6.55 6.41 0.14 2.18% 11.18 4.78 CONTAINER SECTOR NAME SYMBOL THIS LAST CHANGE CHANGE WEEK WEEK WEEK* WEEK* % HIGH LOW DANAOS DAC 4.30 4.26 0.04 0.94% 7.87 2.85 * 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 EXCHANGE THIS WEEK LAST WEEK CHANGE CHANGE % Euro / $ 1.3214 1.3450-0.0236-1.75% Sterling / $ 1.5866 1.5855 0.0011 0.07% $ / Yen 81.545 80.735 0.810 1.00% $ / Nok 5.6170 5.5739 0.0431 0.77% $ / Won 1,117.47 1,124.20-9.94-0.60% Brent Crude 124.64 123.55 1.09 0.88% LIBOR (3-month) 0.49% 0.49% 0 0.00% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS VLCC $95.0m $54.0m $31.0m (DH) $20.0m Suezmax $57.0m $46.0m $27.0m (DH) $12.5m Aframax $45.0m $32.0m $21.0m (DH) $8.5m Panamax $40.0m $30.0m $17.0m (DH) $7.0m Product $35.0m $26.0m $17.0m (DH) $5.0m BULK CARRIERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS Capesize $45.5m $34.0m $22.0m $10.0m Panamax/Kamsarmax $32.0m $24.0m $17.0m $9.0m Supramax/Handymax $27.5m $22.5m $16.5m $8.5m * 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) 20,000/D 25,000/D SUEZMAX (150,000 dwt) 16,000/D 19,000/D AFRAMAX (110,00 dwt) 13,250/D 16,500/D PANAMAX (72,000 dwt) 13,500/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: $713.00 $751.00 $722.50 $732.00 180cst: $736.00 $773.50 $754.00 $740.00 MGO: $1015.00 $1050.00 $1030.00 $998.00 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. 2011 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 10 of 10