LY MARKET REPORT September 26th, 2014 / Week 39 A volatile week in the capesize segment with the BCI losing significant ground in the middle of the week. The BDI decreased by 2.4% whereas the BPI remained almost unchanged after picking up a few points at the end of the week. On the other hand, both supramax and handysize indices continue to support the market by 2.3% and 5.6% respectively. The sale and purchase activity was limited this week. In the wet sector, rumors have it that two Greekcontrolled LR2s ex-daewoo were sold for $58 million each to most probably Scorpio Tankers. We will revert next week with more specific information. On the dry bulk market, CarVal Investors continue their capesize fleet expansion after picking up two sisterships ex-hanjin Subic. Namely the RIO MONTEVIDEO & RIO MANAUS (180,000 dwt / blt 2012 Philippines) were sold en bloc for $50 million each (older sale). Another cape sale took place; this time was sold to Greek interests. The BERGE MCCLINTOCK (179,515 dwt / blt 2012 Japan) was purchased by Navios for $51 million. Despite the slowdown in the second hand market, the newbuilding scene is moving in the opposite direction with a plethora of orders. received a significant amount of orders from several Japanese shipowners for constructing 11 x 81,600 dwt units. All vessels have scheduled delivery between 2016-2017. Apart from the kamsarmaxes, same builders also received a booking for a pair of supramaxes. Furthermore, we report two orders for newcastlemaxes in Chinese shipyards. Lastly in the wet orderbook, worth mentioning is the pair of 115,000 dwt tankers that Thenamaris contracted at Sungdong at the price of $55 million/each. The recycling market was also active picking up from where was left the previous week. India and Pakistan sustained their numbers with Bangladeshi buyers being the most active. Last but not least, Cosco sent for recycling some of their older units, one capesize and a quartet of panamaxes. They are all heading to China. WeberSeas, Weekly Market Report Page 1 of 11
TANKERS DONGBU PROMY 2 10,977/10 - NOKBONG - B&W 6,037 - COATED - COILED - SBT - DH SS/DD 11/2015 Sold for $14 mill to Korean buyers. BULKERS RIO MONTEVIDEO 180,000/12 - HHIC-PHIL - B&W 26,675-9HH - SS 03/2017, DD 03/2015 RIO MANAUS 179,023/12 - HHIC-PHIL - B&W 25,370-9HH - SS 02/2017, DD 02/2015 Sold en bloc for $50 mill each to U.S. based buyers (Carval Investors LLC). BERGE MCCLINTOCK 179,515/12 - HANJIN - B&W 25,370-9HH - SS 03/2017, DD 03/2015 Sold for $51 mill to Greek buyers (Navios Maritime Holdings). FREE JUPITER 47,777/02 - NANTONG COSCO - B&W 9,354-5HH - C 4X30T - SS 05/2017 DD 08/2015 Sold for $12.3 mill to Norwegian buyers (Atlantica Shipping). The sale includes 7 year bareboat back at $5,325/day. CARIBBEAN FRONTIER 28,186/02 - MINAMI-NIPPON - MIT 8,402-5HH - C 4X30T - SS 04/2017 DD 04/2015 Sold for $9.8 mill to Chinese buyers. SILVER STAR 21,967/95 - SAIKI - MIT 7,200-4HH - C 4X30T Sold for $5.1 mill to Chinese buyers with SS/DD due. CONTAINERS OOCL ATLANTA 99,620/05 - SAMSUNG - B&W 93,119-8,063 TEU Sold for $55 mill to Hong Kong based buyers (Gold Star Line). The sale includes 3 year t/c back at $34,500/day. ARIES 29,266/01 - POLAND - B&W 23,385-4HO, 9HA - C 4X35T - 1,835 TEU VEGA 29,098/01 - POLAND - B&W 23,385-4HO, 9HA - C 4X35T - 1,835 TEU Sold on private terms to German buyers (Ahrenkiel Steamship). MPP / GENERAL CARGO VESTA 10,975/06 - TAIZHOU HAIBIN - PIELSTICK 3,899-3HH - SS/DD 03/2016 Sold on private terms to undisclosed buyers. MARINE VICTOR 10,320/03 - HIGAKI - B&W 5,279 - C 2X36T, D 1X30T - SS 12/2018, DD 11/2016 Sold on private terms to Vietnamese buyers (Tan Binh Shipping). WeberSeas, Weekly Market Report Page 2 of 11
FRESH FOR SALE TANKERS BW ULAN 299,325/00 - DAEWOO - B&W 34,626 - SBT - IGS - COW - DH Vessel is inspectable in Fujairah on 25 th - 26 th September. CONGER 65,995/00 - DAEWOO - SUL 13,650 - COATED - COILED - SBT - IGS - COW - DH Vessel is currently enroute Las Palmas where ETA 30 th September. CEYLON 46,001/00 - SHIN KURUSHIMA - B&W 12,890 - COATED - COILED - SBT - IGS - COW DH Vessel is inspectable in Tuxpan, Mexico waiting to berth. LPG GAS SELLAN 6,954/96 - HIGAKI - B&W 5,701 - SBT - IGS - 6,375 CBM Vessel is currently enroute Ulsan, Korea where ETA 26 th September and ETD 28 th September. BULKERS MARINA 75,122/00 - HITACHI ZOSEN - B&W 14,616-7HH Vessel is inspectable in Barcelona on 10 th October where discharging. KIND SEAS 72,493/99 - IMABARI - SUL 13,901-7HH Vessel inspectable passing Panama 11 th - 13 th October and/or within the U.S. Gulf between 17 th - 22 nd October. FRANZISKA BOLTEN 29,231/08 - NANTONG NIKKA - B&W 7,791-5HH - C 4X30T Vessel is promptly inspectable in Mexico. LAUREL ISLAND 28,556/05 - IMABARI - B&W 7,954-5HH - C 4X30.5T Vessel is inspectable in Sohar, Oman where ETA 8 th October. OCEAN STAR 28,499/93 - KANDA - MIT 8,000-5HH - C 4X30T Vessel is inspectable in Vostochny, Russia where ETA 28 th - 29 th September. HOPE STAR 28,294/95 - NKK - B&W 7,451-5HH - C 4X30.5T Vessel is inspectable in Jingtang, China where ETA 29 th September. SHENG MU 16,860/98 - TIANJIN XINGANG - B&W 5,302-4HH - C 2X25T Vessel is inspectable in Porto Marghera between 28 th - 31 st October. MA CHO 16,860/97 - TIANJIN XINGANG - B&W 5,302-4HH - C 2X25T Vessel is inspectable in Porto Marghera between 22 nd - 25 th October. MOHAC 15,503/01 - KURINOURA YAWATAHAMA - B&W 5,710-3HH - C 3X30T Vessel is trading in the Mediterranean. WeberSeas, Weekly Market Report Page 3 of 11
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2014 THIS DATE 2013 2013 TOTAL 2012 TOTAL ULCC/VLCC 9 11 15 14 SUEZMAX 4 6 9 15 AFRAMAX 16 13 18 29 PANAMAX TANKER 1 5 7 3 CAPE/COMBO (100,000 dwt +) 18 33 42 68 PANAMAX/KAMSARMAX BULKER 35 31 37 101 LOCATION TANKERS BULK CARRIERS CHINA 355-380 325-345 INDIA 490-505 485-500 BANGLADESH 490-505 485-500 PAKISTAN 485-505 470-490 DEMOLITION: INDIA CONT ALTAVIA GC LAILA QUEEN (Including 125T ROB) 30,743/95-10,448 LDT - USD 535/LDT 16,226/86-4,950 LDT - USD 494/LDT BANGLADESH M/V AK BROTHER M/V ENARXIS M/V GUI SHUN GC JENWIN II 29,608/85-6,876 LDT - USD 496/LDT 28,468/86-7,142 LDT - USD 481/LDT 18,380/79-4,906 LDT - USD 470/LDT 4,028/78-1,989 LDT - USD 470/LDT PAKISTAN M/T DELPHINA 39,674/89-8,958 LDT - USD 500/LDT WeberSeas, Weekly Market Report Page 4 of 11
CHINA M/V TIAN LI HAI M/V FU ZHOU HAI M/V TENG FEI HAI M/V LI SHAN HAI M/V BAO SHAN HAI 148,726/99-23,601 LDT - undisclosed price 69,967/95-12,194 LDT - undisclosed price 69,967/95-11,958 LDT - undisclosed price 65,029/92-12,141 LDT - undisclosed price 64,909/91-12,264 LDT - undisclosed price WeberSeas, Weekly Market Report Page 5 of 11
TYPE OF SHIP NEWBUILDING STATISTICS 2014 2015 2016 2017 * TOTAL ORDERBOOK ULCC/VLCC 8 27 44 4 83 SUEZMAX 8 8 20 8 44 AFRAMAX 14 57 54 17 142 PANAMAX 12 28 30 10 80 MR 54 194 168 27 443 10-35,000 DWT 36 85 92 55 268 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 32 139 139 24 334 26 141 112 40 319 PANAMAX 25 28 3 56 SUPRAMAX / HANDYMAX 105 320 215 46 686 HANDYSIZE 66 226 88 31 411 WeberSeas, Weekly Market Report Page 6 of 11
NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 2 115,000 dwt Tanker 3 19,900 dwt Tanker Sungdong Fukuoka 2016 $55.00 n/a rgn $32.00 Thenamaris Ship Management Atlantis Vest Investor Shipping Stainless Steel, options exercised 2 173,400 cbm LNG Daewoo SME 2017/18 $207.00 BW Gas 2 209,000 dwt Bulker COSCO Nantong 2016 n/a 4 208,000 dwt Bulker SWS 2017 $57.90 2 81,600 dwt Bulker 2 81,600 dwt Bulker 2 81,600 dwt Bulker 2 81,600 dwt Bulker 1 81,600 dwt Bulker 1 81,600 dwt Bulker 1 81,600 dwt Bulker 3 64,000 dwt Bulker Jaingsu Haitong Offshore Engineering 2016 n/a 2016 n/a 2016/17 n/a Kumiai Senpaku Prosperity Investment Itothu Corporation Santoku Senpaku Mitsubishi Corporation 2016/17 n/a Yano Kaiun 2016 n/a Kasuga Shipping 2017 n/a Ocean Marine 2016 n/a Arist Maritime 2016/17 n/a 1 60,000 dwt Bulker Saiki H.I. 2017 n/a 2 57,700 dwt Bulker Victoria Steamship Mitsubishi Corporation 2016 n/a United Ocean Options exercised 5 14,500 teu Container 2 1,400 teu Container 2 1,100 teu Container Jiangnan Changxing Yangzhou Guoyu Guangzhou Wenchong Shipyard 2017/18 $123.60 CCHC 2017 n/a Guoyu Nordic Shipping 2015 n/a Ningbo Ocean Options exercised WeberSeas, Weekly Market Report Page 7 of 11
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 1049 1075-26 -2.42% Baltic Capesize 18 2112-260 -12.31% Baltic Panamax 807 814-7 -0.86% Baltic Supramax 1053 1029 24 2.33% Baltic Handysize 6 498 28 5.62% 3000 2500 2000 1500 1000 500 0 26-Sep-10 26-Nov-10 7000 6500 6000 5500 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 3000 2500 2000 1500 1000 500 0 26-Jan-11 26-Mar-11 26-May-11 26-Jul-11 26-Sep-11 26-Nov-11 26-Jan-12 26-Mar-12 26-May-12 26-Jul-12 26-Sep-12 26-Sep-10 26-Nov-10 26-Jan-11 26-Mar-11 26-May-11 26-Jul-11 26-Sep-11 26-Nov-11 26-Jan-12 26-Mar-12 26-May-12 26-Jul-12 26-Sep-12 26-Nov-12 26-Jan-13 26-Mar-13 26-May-13 26-Jul-13 26-Sep-13 26-Nov-13 26-Jan-14 26-Mar-14 26-May-14 26-Jul-14 26-Sep-14 WeberSeas, Weekly Market Report Page 8 of 11 B D I 26-Nov-12 B C I 26-Sep-10 26-Nov-10 26-Jan-11 26-Mar-11 26-May-11 26-Jul-11 26-Sep-11 26-Nov-11 26-Jan-12 26-Mar-12 26-May-12 26-Jul-12 26-Sep-12 26-Nov-12 B P I 26-Jan-13 26-Mar-13 26-May-13 26-Jul-13 26-Sep-13 26-Nov-13 26-Jan-14 26-Mar-14 26-May-14 26-Jul-14 26-Sep-14 26-Jan-13 26-Mar-13 26-May-13 26-Jul-13 26-Sep-13 26-Nov-13 26-Jan-14 26-Mar-14 26-May-14 26-Jul-14 26-Sep-14
Baltic Clean Tanker Baltic Dirty Tanker BALTIC WET EX RATES THIS LAST % 556 5 4 0.72% 611 612-1 -0.16% 1600 1400 1200 1000 800 600 400 200 0 26-Sep-10 26-Nov-10 1600 1400 1200 1000 800 600 400 200 0 26-Sep-10 26-Nov-10 26-Jan-11 26-Mar-11 26-May-11 26-Jul-11 26-Sep-11 26-Nov-11 26-Jan-12 26-Mar-12 26-May-12 26-Jul-12 26-Jan-11 26-Mar-11 26-May-11 26-Jul-11 26-Sep-11 26-Nov-11 26-Jan-12 26-Mar-12 26-May-12 26-Jul-12 26-Sep-12 26-Sep-12 26-Nov-12 BCTI 26-Nov-12 26-Jan-13 BDTI 26-Jan-13 26-Mar-13 26-May-13 26-Jul-13 26-Sep-13 26-Nov-13 26-Jan-14 26-Mar-14 26-May-14 26-Jul-14 26-Sep-14 26-Mar-13 26-May-13 26-Jul-13 26-Sep-13 26-Nov-13 26-Jan-14 26-Mar-14 26-May-14 26-Jul-14 26-Sep-14 WeberSeas, Weekly Market Report Page 9 of 11
MAJOR CAPITAL MARKETS INDEX THIS * LAST * % S HIGH S LOW DOW JONES 16,945.80 17,265.99-320.19-1.85% 17,350.60 14,719.40 NASDAQ 4,466.75 4,593.43-126.68-2.76% 4,610.57 3,650.03 AIM 751.30 758.22-6.92-0.91% 897.27 749.39 NIKKEI 16,374.14 16,067.57 306.57 1.91% 16,374.10 13,748.90 PUBLIC COMPANIES NAME SYMBOL THIS * DRY-CARGO SECTOR LAST * % HIGH LOW DIANA DSX 8.99 10.20-1.21-11.86% 13.93 8.83 DRYSHIPS DRYS 2.50 2.98-0.48-16.11% 5.00 2.44 GOLDENPORT HOLDINGS GPRT.L 360.00 360.00 0.00 0.00% 505.00 321.70 NAVIOS HOLDINGS NM 5.97 7.76-1.79-23.07% 12.12 6.78 NAME CAPITAL PRODUCT PARTNERS SYMBOL TANKER/ENERGY SECTOR THIS * LAST * % HIGH LOW CPLP 9.80 10.34-0.54-5.22% 11.63 8.12 STEALTHGAS GASS 9.12 9.76-0.64-6.56% 13.00 8.88 TEN TNP 6.45 7.00-0.55-7.86% 8.48 4. NAME SYMBOL THIS * CONTAINER SECTOR LAST * % HIGH LOW DANAOS DAC 5.11 5.57-0.46-8.26% 7.75 3.68 * Prices reflect Thursday s closing values. Prices in US$ except for Goldenport Holdings which is in GBP. WeberSeas, Weekly Market Report Page 10 of 11
RATES OF EX THIS LAST % Euro / $ 1.2745 1.2865-0.0120-0.93% Sterling / $ 1.6319 1.6381-0.0062-0.38% $ / Yen 109.018 108.875 0.142 0.13% $ / Nok 6.4038 6.3453 0.06 0.92% $ / Won 1,044.14 1,040.11 4.03 0.39% Brent Crude 96.94 97.69-0.75-0.77% LIBOR (3-month) 0.23% 0.23% -0.002-0.83% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS VLCC $103.0m $74.0m $48.0m $17.5m Suezmax $68.0m $48.0m $34.0m $12.0m Aframax $.0m $36.5m $27.5m $9.0m Panamax $45.0m $30.5m $22.0m $8.0m Product $37.0m $24.5m $16.5m $6.5m BULK CARRIERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS Capesize $59.0m $47.0m $34.0m $11.0m Panamax/Kamsarmax $31.5m $22.0m $17.0m $6.0m Supramax/Handymax $30.5m $21.0m $16.0m $6.0m * 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) 25,000/D 30,000/D SUEZMAX (150,000 dwt) 21,000/D 23,500/D AFRAMAX (110,00 dwt) 18,000/D 20,500/D PANAMAX (72,000 dwt) 15,500/D 16,500/D MR (45-50,000 dwt) 14,000/D 15,000/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 380cst: $540.00 $575.00 $565.00 $563.50 180cst: $570.00 $620.00 $590.50 $580.00 MGO: $800.50 $972.50 $836.00 $815.00 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. 2014 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 11 of 11