LY MARKET REPORT September 12th, 2014 / Week 37 The freight market saw encouraging signs for most of the week and ended up with a 2.25% increase of the BDI at 1181 points. BCI and BHSI had also positive reaction and increased by 2.5% and 1.7% whereas BSI remained almost unchanged, just 9 points higher. On the other hand, the BPI ended 6% lower. Most of this week's reported sales took place in the wet sector. Soechi Group and Tanker Investments both picked up Sumitomo built aframaxes. More specifically, "SC SARA" (105,344 dwt / blt 2001 Japan) was sold to the Indonesian buyers at $17.2 million whereas the Canadian subsidiary of Teekay paid $46 million for the modern "PACIFIC POPPY" (104,621 dwt / blt 2011 Japan). Greeks had also shown activity by acquiring a couple of LR1s both built in Japan. Namely the "HOLY VICTORIA" (74,994 dwt / blt 2008 Japan) and the "MOONLIGHT VENTURE" (61,204 dwt / blt 2006 Japan) concluded at $29 and $22.5 million respectively. After picking up two LR2 sisterships last week, Sinokor continue the fleet expansion with the acquisition of four ex-spp MR resales with delivery in the following months. The sale includes t/c attached and the total price is estimated at $1 million. On the other hand, activity in the drybulk market has slowed down with only two deals reported. Europeans have bought the Japanese built supramax "SEA LILY" (,471 dwt / blt 2004) for $15.7 million basis surveys due. Even though second activity was rather poor, the orderbook for dry tonnage seems very interesting. Most of the bookings have been concluded in Japanese shipyards with sizes varying between 34-63.000 dwt. Moreover a couple of other deals reported, most of them being options placed early in the summer. In the recycling scene, with India, Bangladesh and Pakistan managing to snap up interest, prices got firmer. All of the vessels heading for scrapping this week concluded at above $500/ldt. WeberSeas, Weekly Market Report Page 1 of 11
TANKERS SC SARA 105,344/01 - SUMITOMO - SUL 16,321 - COILED - SBT - IGS - COW - DH - SS 10/2016, DD 10/2014 Sold for $17.2 mill to Indonesian buyers (Soechi Group). PACIFIC POPPY 104,621/11 - SUMITOMO - B&W 16,791 - COILED - SBT - IGS - COW - DH SS/DD 06/2016 Sold for $46 mill to Canadian buyers (Tanker Investments Ltd). HOLY VICTORIA 74,994/08 - MINAMI-NIPPON - B&W 16,642 - COATED - SBT - IGS - DH SS 10/2018, DD 10/2016 Sold for $29 mill to Greek buyers (Prime Marine Management). MOONLIGHT VENTURE 61,204/06 - SUMITOMO - B&W 13,610 - COATED - COILED - SBT - IGS COW - DH - SS/DD 01/2016 Sold for $22.5 mill to Greek buyers. SPP SACHEON S5127 50,300/10-14 - SPP - B&W 12,168 - COATED - COILED - SBT - IGS - DH SPP SACHEON S5127 50,300/02-15 - SPP - B&W 12,168 - COATED - COILED - SBT - IGS - DH SPP SACHEON S5127 50,300/03-15 - SPP - B&W 12,168 - COATED - COILED - SBT - IGS - DH SPP SACHEON S1154 50,300/01-15 - SPP - B&W 12,168 - COATED - COILED - SBT - IGS - DH Sold en bloc for $38 mill each to Korean buyers (Sinokor Merchant Marine). The sale includes 5-year T/C at $17,000/day to Valero. PEARL NAOMI 12,6/07 - NIIGATA - NIIGATA 4,300 - COATED - COILED - SBT - DH SS 10/2017, DD 10/2015 Sold for $12 mill to undisclosed buyers. CLIPPER LEGACY 10,098/05 - TURKEY - B&W 6,056 - COATED - COILED - SBT- IGS - DH SS 05/2018, DD 05/2016 CLIPPER LANCER 9,971/06 - TURKEY - B&W 6,039 - COATED - COILED - SBT- IGS - DH SS/DD 12/2015 Sold en bloc for $7 mill each to Nigerian buyers. SOUTHERN ATLAS 8,905/06 - SHITANOE - B&W 5,279 - ST. ST. COATING - COILED - SBT - DH SS/DD 04/2016 Sold for $12 mill to Japanese buyers (Asahi Shosen). LPG GAS PUFFER 7,046/95 - ASAKAWA - B&W 6,160 - SBT - IGS - 6,571 CBM Sold for $6.9 mill to Sri Lanka based buyers (Laugfs Gas). ALFATEM 6,753/00 - TURKEY - B&W 4,759 - COATED - COILED - SBT - DH - SS/DD 10/2015 Sold for $4.5 mill to undisclosed buyers. WeberSeas, Weekly Market Report Page 2 of 11
BULKERS SEA LILY,471/04 - TSUNEISHI - B&W 10,605-5HH - C 4X30T - SS/DD 09/2014 Sold basis SS/DD due for $15.7 mill to European buyers. ISLAND RANGER 43,108/94 - OSHIMA - SUL 9,550-5HH - C 4X25T - SS 06/2019, DD 04/2017 Sold for $8 mill to undisclosed buyers. MPP/GENERAL CARGO WHITE TOBA 11,443/03 - NISHI - B&W 5,302-2HH - C 1X60T, 2X30.7T, D 1X30T - SS 07/2018 DD 12/2015 Sold for $4.7 mill to undisclosed buyers. GW BEYCHEVELLE 7,650/09 - SHANDONG HUANGHAI - DAIHATSU 6,798-3HH - C 2X40T Sold for $4.5 mill to Chinese buyers. CONTAINERS YM SHANGHAI 49,200/97 - DAEWOO - SUL 38,8-8HH - 3,961 TEU Sold for $9 mill to Chinese buyers with SS/DD due. HELENE RUSS 23,043/96 - POLAND - SUL 18,102-4HO, 9HA - C 3X40T - 1,730 TEU Sold for $4.5 mill to Singapore based buyers (Continental Investment Holding). OLIVIA 20,416/95 - GERMANY - SUL 15,132-6HO, 8HA - C 3X45T - 1,4 TEU NOVIA 20,100/95 - GERMANY - SUL 15,132-6HO, 8HA - C 3X45T - 1,4 TEU Sold en bloc for $4.2 mill each to Singapore based buyers (Continental Investment Holding). WeberSeas, Weekly Market Report Page 3 of 11
FRESH FOR SALE BULKERS PACIFIC TRIANGLE 184,744/00 - SAMSUNG - B&W 21,086-9HH Vessel will be discharging in 3 ports in Japan from Japan from 26 th - 27 th September onwards, where inspectable. CYMBELINE 73,060/01 - SUMITOMO - SUL 13,849-7HH Vessel is inspectable at China where ETA Tianjin on/around 23 rd September. PAOLA 32,564/04 - KANDA - MIT 7,650-5HH - C 4X30.5T Vessel is inspectable at Phu My Vietnam around 20 th September. KOHINOOR 32,309/10 - KANDA - MIT 9,001-5HH - C 4X30.5T Vessel will be discharging at Chinese port (intention Lianyungang or Rizhao) on around 27 th September. CONTAINERS TIGER PEARL 24,136/94 - SHIN KURUSHIMA - B&W 15,880-1,510 TEU Vessel is trading between Colombo and Tuticorin. CAPE NORVIEGA 24,116/98 - SHIN KURUSHIMA - B&W 15,881-1,510 TEU Vessel is trading within South East Asia. CAPE NEGRO 23,7/98 - SHIN KURUSHIMA - B&W 15,881-1,510 TEU Vessel is trading between Taiwan and China. WeberSeas, Weekly Market Report Page 4 of 11
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2014 THIS DATE 2013 2013 TOTAL 2012 TOTAL ULCC/VLCC 9 9 15 14 SUEZMAX 4 5 9 15 AFRAMAX 16 12 18 29 PANAMAX TANKER 1 5 7 3 CAPE/COMBO (100,000 dwt +) 17 33 42 68 PANAMAX/KAMSARMAX BULKER 31 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 AKRITAS GC ATLANTIC NYALA 39,579/87-14,700 LDT - USD 508/LDT 18,731/90-9,210 LDT - USD 500/LDT BANGLADESH M/V SHAHRIAR JAHAN GC ATLANTIC TRADER 37,568/85-7,701 LDT - undisclosed price 17,850/89-8,920 LDT - USD 505/LDT PAKISTAN M/T OVERSEAS ELIANE (Including 350 tons ROB) M/V ORYX M 94,813/94-17,079 LDT - USD 515/LDT, as is Singapore 42,838/84-7,778 LDT - USD 505/LDT WeberSeas, Weekly Market Report Page 5 of 11
TYPE OF SHIP NEWBUILDING STATISTICS 2014 2015 2016 2017 * TOTAL ORDERBOOK ULCC/VLCC 8 29 44 4 85 SUEZMAX 10 9 17 6 42 AFRAMAX 19 57 54 16 146 PANAMAX 18 25 30 9 82 MR 59 198 165 23 445 10-35,000 DWT 37 85 83 53 258 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 39 137 132 24 332 32 139 105 26 302 PANAMAX 30 27 3 60 SUPRAMAX / HANDYMAX 115 316 203 46 680 HANDYSIZE 76 221 83 31 411 WeberSeas, Weekly Market Report Page 6 of 11
NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 1 150,200 cbm LNG Hyundai H.I. 2017 n/a Petronas Option exercised 2 63,000 dwt Bulker 3 60,000 dwt Bulker 1 60,000 dwt Bulker 1 60,000 dwt Bulker 1 60,000 dwt Bulker 2 58,000 dwt Bulker 2 34,500 dwt Bulker 1 34,000 dwt Bulker 2 34,000 dwt Bulker Imabari Japan Marine United Japan Marine United Onomichi Onomichi Tsuneishi Zhoushan Shikoku Shipyard Hakodate Dock Hakodate Dock 2016 n/a Empros Lines 2016/17 n/a Carras Hellas 2017 n/a 2018 n/a 2018 n/a Adelfia Shipping Enterprises Inui Steamship Co. Triton Navigation 2016 n/a Pacific Basin 2016/17 n/a Nissen Kaiun 2017 n/a MK Blumenthal 2017/18 n/a Chowgule S.S. 4 64,000 dwt MPP Oshima 2016/17 $36.00 IMC Industrial Group 5 14,000 teu Container 4 1,700 teu Container Imabari Zhejiang Ouhua 2018 n/a K-Line 2016 xs $26.00 Reederei Nord Options exercised WeberSeas, Weekly Market Report Page 7 of 11
BALTIC DRY EX RATES THIS LAST % Baltic Dry Index 1181 1155 26 2.25% Baltic Capesize 2546 2483 63 2.54% Baltic Panamax 875 931-56 -6.02% Baltic Supramax 1006 997 9 0.90% Baltic Handysize 477 469 8 1.71% 3500 3000 2500 2000 1500 1000 500 0 12-Sep-10 12-Nov-10 7000 6500 6000 5500 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 12-Sep-10 12-Nov-10 4000 3500 3000 2500 2000 1500 1000 500 0 12-Jan-11 12-Mar-11 12-May-11 12-Jul-11 12-Sep-11 12-Nov-11 12-Jan-12 12-Mar-12 12-May-12 12-Jul-12 12-Sep-12 12-Jan-11 12-Mar-11 12-May-11 12-Jul-11 12-Sep-11 12-Nov-11 12-Jan-12 12-Mar-12 12-May-12 12-Jul-12 12-Nov-12 12-Jan-13 12-Mar-13 12-May-13 12-Jul-13 12-Sep-13 12-Nov-13 12-Jan-14 12-Mar-14 12-May-14 12-Jul-14 12-Sep-14 WeberSeas, Weekly Market Report Page 8 of 11 B D I 12-Sep-12 12-Nov-12 B C I 12-Sep-10 12-Nov-10 12-Jan-11 12-Mar-11 12-May-11 12-Jul-11 12-Sep-11 12-Nov-11 12-Jan-12 12-Mar-12 12-May-12 12-Jul-12 12-Sep-12 12-Nov-12 B P I 12-Jan-13 12-Mar-13 12-May-13 12-Jul-13 12-Sep-13 12-Nov-13 12-Jan-14 12-Mar-14 12-May-14 12-Jul-14 12-Sep-14 12-Jan-13 12-Mar-13 12-May-13 12-Jul-13 12-Sep-13 12-Nov-13 12-Jan-14 12-Mar-14 12-May-14 12-Jul-14 12-Sep-14
Baltic Clean Tanker Baltic Dirty Tanker BALTIC WET EX RATES THIS LAST % 560 559 1 0.18% 640 674-34 -5.04% 1600 1400 1200 1000 800 600 400 200 0 12-Sep-10 12-Nov-10 1600 1400 1200 1000 800 600 400 200 0 12-Sep-10 12-Nov-10 12-Jan-11 12-Mar-11 12-May-11 12-Jul-11 12-Sep-11 12-Nov-11 12-Jan-12 12-Mar-12 12-May-12 12-Jul-12 12-Jan-11 12-Mar-11 12-May-11 12-Jul-11 12-Sep-11 12-Nov-11 12-Jan-12 12-Mar-12 12-May-12 12-Jul-12 12-Sep-12 12-Sep-12 12-Nov-12 BCTI 12-Nov-12 12-Jan-13 BDTI 12-Jan-13 12-Mar-13 12-May-13 12-Jul-13 12-Sep-13 12-Nov-13 12-Jan-14 12-Mar-14 12-May-14 12-Jul-14 12-Sep-14 12-Mar-13 12-May-13 12-Jul-13 12-Sep-13 12-Nov-13 12-Jan-14 12-Mar-14 12-May-14 12-Jul-14 12-Sep-14 WeberSeas, Weekly Market Report Page 9 of 11
MAJOR CAPITAL MARKETS INDEX THIS * LAST * % S HIGH S LOW DOW JONES 17,049.00 17,069.58-20.58-0.12% 17,161.60 14,719.40 NASDAQ 4,591.81 4,562.29 29. 0.65% 4,610.14 3,650.03 AIM 776.07 777.38-1.31-0.17% 897.27 749.39 NIKKEI 15,909.20 15,676.18 233.02 1.49% 16,320.20 13,748.90 PUBLIC COMPANIES NAME SYMBOL THIS * DRY-CARGO SECTOR LAST * % HIGH LOW DIANA DSX 10.38 10.37 0.01 0.10% 13.93 8.83 DRYSHIPS DRYS 3.09 3.21-0.12-3.74% 5.00 2.65 EAGLE BULK EGLE 1.15 1.14 0.01 0.88% 8.75 1.02 GOLDENPORT HOLDINGS GPRT.L 360.00 360.00 0.00 0.00% 510.00 321.70 NAVIOS HOLDINGS NM 9.00 9.10-0.10-1.10% 12.12 6.78 NAME CAPITAL PRODUCT PARTNERS SYMBOL TANKER/ENERGY SECTOR THIS * LAST * % HIGH LOW CPLP 10.31 10.32-0.01-0.10% 11.63 8.12 STEALTHGAS GASS 9.36 9.38-0.02-0.21% 13.00 8.77 TEN TNP 7.48 7.32 0.16 2.19% 8.48 4. NAME SYMBOL THIS * CONTAINER SECTOR LAST * % HIGH LOW DANAOS DAC 5.83 5.73 0.10 1.75% 7.75 3.67 * 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 / $ 1.2947 1.2960-0.0013-0.10% Sterling / $ 1.6254 1.6307-0.0053-0.33% $ / Yen 107.145 105.205 1.940 1.84% $ / Nok 6.3649 6.2854 0.08 1.26% $ / Won 1,034.07 1,024.95 9.12 0.89% Brent Crude 97.95 102.11-4.16-4.07% LIBOR (3-month) 0.24% 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) 25,500/D 30,000/D SUEZMAX (150,000 dwt) 20,500/D 23,250/D AFRAMAX (110,00 dwt) 16,000/D 20,500/D PANAMAX (72,000 dwt) 14,750/D 16,250/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: $546.50 $595.00 $569.50 $577.50 180cst: $576.50 $630.00 $595.50 $587.50 MGO: $827.50 $980.00 $855.00 $830.00 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