MARKET REPORT WEEK 13 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 30 th March 2012. The BDI ended on Friday up by +3.5% w-o-w, reflecting the fact that each sector ended the same week just in positive territory, i.e. BCI +2%, BPI +2.4%. BSI +0.6%, and BHSI +4.03%. Although we can therefore report a mildly positive week we don't believe it to be a trend and indeed would expect to probably see a drop off in cargoes / trading as the Catholic and then one week later the Orthodox Easter holidays take effect from the end of this week. Whilst there are currently a number of 'reported' large shipping companies with finance problems (e.g. Sanko, Genmar, Torm etc) we strongly suspect there are a great deal more privately held companies currently in similar difficulties and so behind the scenes negotiating hard with their financiers, charterers, shipyards etc in order to try and stay financially 'above water'. Frustratingly though, whilst there are clearly plenty of would be wet and dry cargo buyers at current market price levels the banks are in most instances unwilling or unable to lend on such purchases because ironically they lent money to those companies now facing financial ruin when they should have known better and 'shut up shop' when it was obvious to most that prices in the 2006-2008 era were simply unsustainably high and too many newbuildings were being ordered.. The demolition markets continue to buy and although on face value the levels on offer from both the sub continent and China appear maintained, this does not tell all the story because in the sub cont the recently dominant buyer India is weakening slightly due to the end of its financial year, a fall in steel prices and weakness of the Rupee against the Dollar, whilst meantime we are seeing a number of Bangladesh buyers make a welcome return to the market who appear to now be willing and able to cope with the latest eco formalities and therefore increased waiting time etc forced upon them in order to buy in demolition units. China meantime has maintained or maybe even slightly increased its offered levels in order to compete with Bangladesh and to ensure it maintains its attractiveness to sellers whose vessels are positioned in the Far East. 1
NILIMAR Ships Sale & Purchase TANKERS HULL PACIFIC AMBER 46,878 08/1993 HALLA, S.KOREA DH 7.25M NIGERIAN PACIFIC PEARL 46,850 03/1994 HALLA, S.KOREA DH 7.25M NIGERIAN PACIFIC JADE 46,801 02/1994 HALLA, S.KOREA DH 7.25M NIGERIAN MARCELA LADY 46,683 06/2004 3 MAJ, CHILIAN DH 21.50M CROATIA (SONOMAR) SC CHELSIA 26,707 11/2000 FICANTIERI, TUNISIAN DH 12.00M ITALY (GABES) NUR QAMARINA 7,119 06/2009 CHINA DH 6.00M MALAYSIAN TRANSPACIFIC 5,500 04/2001 CELIKTEKNE, TURKEY DH 6.50M UNDISCLOSED ELEOUSA TUZLA, 4,509 03/2000 TRIKOUKIOTISA TURKEY SUB WINNING A CHARTER TENDER VIA AUCTION DH 3.40M UNDISCLOSED VIA AUCTION COMBO GEAR / PUMPS GAS CBM 2
BALTIC TANKER INDICES 2011 2500 2000 1500 1000 500 0 Week BDTI 11 BCTI 11 BDTI 12 BCTI 12 3
NILIMAR Ships Sale & Purchase VOGESAILOR 164,188 11/1996 AMALIA 75,100 01/2000 ENERGY PROMETHEUS 74,083 03/1998 SILVER MEI 68,676 06/1989 FOREST PRINCESS 51,152 11/1998 SALVIA 48,265 01/2000 FEYZA 47,882 02/1984 DIAMOND GLORY 28,515 08/1997 ALAM SENANG 27,654 03/1984 BULKERS AESA, SPAIN HITACHI, IMABARI, SASEBO, HITACHI, OSHIMA, NAMURA, TSUNEISHI, HITACHI, GEAR - 11.60M GREEK - 16.20M - 12.50M GREEK (ALEXANDRIA SHIPPING) GREEK (CYPRUS MARITIME) - 5.80M CHINESE CR3x14.5T 8.40M CHINESE CR4x25T 14.50M UNDISCLOSED CR3x25T 3.80M UNDISCLOSED CR4x30T 8.60M SYRIAN CR4x25T 3.00M MIDDLE EASTERN 4
4000 BALTIC DRY INDICES 2011 3500 3000 2500 2000 1500 1000 500 0 BDI 11 BCI 11 BPI 11 BSI 11 BHSI 11 BDI 12 BCI 12 BPI 12 BSI 12 BHSI 12 Week 5
NILIMAR Ships Sale & Purchase INDICATIVE REPORTED FIXTURES RATE CHARTERERS DURATION SUCCESSOR 2007 174,000 11.000$/D CLASSIC MARITIME 8/12 MONTHS UMBERTO D AMATO 2011 93,270 8.400$/D NORDEN 12 MONTHS STAR BREEZE 2010 91,800 12.000$/D BAHRI 18/24 MONTHS PRABHU SKAKTI 2009 83,690 10.250$/D CNR 4/6 MONTHS ROSCO BANYAN 2010 74,994 9.250$/D BEIBU 4/6 MONTHS ROSALIA D AMATO 2001 74,500 10.650$/D CNR 4/6 MONTHS NIKOLAOS A 2009 58,133 12.250$/D CARGILL 4/6 MONTHS CHANG SHAN HAI 2010 56,907 12.000$/D SUNTIME 3/5 MONTHS RM DYNASTY 2004 50,600 11.000$/D CNR 5/7 MONTHS BALTIC DRY INDICES BDI BCI BPI BSI BHSI PREVIOUS WEEK CURRENT WEEK + / - 908 934 26 1369 1412 43 1036 1051 15 1035 1030-5 551 565 14 6
TWEEN / MPP / GENERAL CARGO GEAR PARADIP 45,696 08/1992 CONTAINER GEAR TEU THYSSEN, GERMANY GLESS 2680 6.50M CHINESE (CHINA SHIPPING) REEF REEF. CAP/TY GEAR PCC/ RORO / PASS CARS/ LM PAX COMMENT 7
NAVAJO SPIRIT TYPE NILIMAR Ships Sale & Purchase DEMOLITION INDIA TANK 111,742 1990 19,797 497.5 - AKARITA TANK 107,223 1991 16,811 496 OLD SALE / MID MARCH NORTHERN BELL BONNIE SMITHWICK TANK 83,651 1990 16,283 485 AS IS COLOMBO COMBO 83,155 1993 15,455 452 AS IS COLOMBO LUCKY STAR BULK 65,767 1984 11,984 465 - ALEX D BULK 52,600 1989 13,420 487 - SINGA BULK 41,346 1985 8,678 480 - MSC HANNE CONT 40,027 1989 15,000 493 - AL MIRQAB CONT 35,615 1983 12,658 487 AS IS KHOR FAKAN, INCL FUEL ACX HIBISCUS CONT 24,581 1997 7,300 438 - MSC HINA CONT 21,370 1984 10,000 480 - VEGALAND RORO 12,008 1979 10,907 480 OLD SALE / MID MARCH X PRESS TOWER TAURAGA STAR CONT 14,090 1988 4,830 490 - REEF 10,963 1992 5,020 525 AS IS FUJAIRAH INCL ROB s AND 233T ALUMINUM ON BOARD REF STAR REEF 9,360 1984 7,200 463 - HUDSON BAY REEF 8,945 1983 4,973 452 FULL SPARES PAQUITA TWEEN 8,615 1992 4,565 472 - DEMOLITION PAKISTAN TYPE SEACREST TANK 154,970 1991 20,179 475 AS IS SPORE INCL 470T ROB s SEA WAVE TANK 154,970 1991 20,179 475 AS IS FUJAIRAH INCL 150T ROB s AMBERJACK TANK 84,040 1990 16,789 500 - DEMOLITION BANGLADESH TYPE MARINA BAY CONT 34,380 1987 9,510 468 - NEWLEAD VENETICO TYPE DEMOLITION CHINA BULK 134,981 1990 20,738 457-8
DEMOLITION TURKEY TYPE LNG ELBA LNG 25,235 1970 14,481 340 - FIORUCCI TEST LNG 25,235 1969-3.5M - MIRAGE I RORO 1,829 1973 9,446 328 - GOODWILL CONT 5,812 1987 2,657 320 - SCOTIA PRINCE TYPE DEMOLITION MISC RORO 1,321 1971 6,963 430 AS IS COLOMBO TYPE DELY NEWBUILDINGS BULK 76,000 2013 JIANGNAN 29.00M DIANA SHIPPING 2 UNITS BULK 58,000 2014 SAMJIN 30 ASIA PACIFIC 2 UNITS CONT 2,200 TEU 2014 GUANGZHOU P+C LOMAR 2+4 OPTION LPG 38,000 CUM 2014 HYUNDAI P+C EXMAR 8 UNITS LPG 8,500 CUM 2015 STX BUSAN P+C BRAVE MARITIME 2 UNITS LPG 5,500 CUM 2014 STX BUSAN 19.80M BRAVE MARITIME 2+2 OPTION MARKET RATES BRENT GBP USD USD K WON USD YEN EURO USD PREVIOUS WEEK 123.14 1.5821 1133.3 82,540 1.3201 CURRENT WEEK + / - 122.39-0.75 1.5958 0.0137 1139.25 82,460 5.95-80 1.3302 0.0101 9