MARKET REPORT WEEK 18 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 6 th MAY 2011 Apart from the BPI which ended last week trading 22% higher, the other sectors all ended the week +orless than 1% w-o-w, meaning that it was on the back of the panamaxes alone the BDI improved 5.5% w-ow. None of this enables us to make any logical predictions for the freight market going forward, except to say that with more and more newbuilding vessels delivering, it doesn't look very encouraging... Additionally, besides the sheer numbers of vessels delivering from yards, their relative deadweights are also increasing, to such an extent that we understand there are ongoing discussions about revising upwards the standard tonnage sizes on the BCI and BPI Indices. The only slight bright spot currently affecting the freight market is that crude oil prices are falling which should help bunker prices to fall making voyage business more attractive, though charterer's will likely be quick to reduced rates offered to reflect same. On the S+P markets, though overall brokers report slow business, there is actually quite a steady stream of sales being concluded. Whilst bulker sales are mainly to Far Eastern buyers (especially Chinese) there are still a few Greeks dealing + Syrian buyers have again been active lately. The number of tanker sales has increased quite a lot lately but we believe many of these deals are being instigated by banks / financiers whether via normal market sales or via the courts, and whilst, so far, the eventual sales are not at really distressed levels there are a number of cash rich parties who are willing and able to buy now and wait for better times. The newbuilding shipyards in Asia continue to conclude contracts but the emphasis is now concentrated on the most fuel efficient design container vessels of over 8,000 TEU, offshore rigs and support vessels and other specialized units eg LNG. Thankfully it seems that contracting in the bulk and tanker sectors is now at a much lower ebb and there remains plenty of 'newbuilding resales' available for prompt delivery from Chinese yards - mainly of various designs of Supramaxes and Handies. The demolition market in the Indian sub-continent remains firm with levels on offer mainly above $500 for conventional / standard tonnage.
EAGLE HOPE 73,965 02/2008 CYRUS 40,258 01/1995 GOLDEN VENUS 19,887 12/2004 UCT ESPEN 8,674 01/2005 UCT ELLIS 8,657 08/2005 UCT ENGLE 8,643 04/2005 UCT EVERAD 8,571 05/2004 UCT ELIZABETH 8,563 02/2004 UCT ELWOOD 8,544 05/2005 MULTITANK BATAVIA 5,850 06/1998 ONOMICHI, ULJANIK, CROATIA USUKI, INP, INP, INP, SASAKI, SASAKI, SASAKI, VIANA, PORTUGAL TANKERS HULL 39.00M USA (SCORPIO) DB 7.00M NORWEGIAN 24.50M DUTCH (ACE TANKERS) 4.63M NORWEGIANS AUCTION EN BLOC COMBO GEAR / PUMPS - NO SALES REPORTED THIS WEEK - GLOBAL EXPRESS NO 2 4,252 09/1996 TAYGETE STAR 3,811 02/2007 GRACE CORAL 3,706 06/1994 PERNAS BUTANE 2,213 01/1992 NEW SEABORN 1,808 11/1980 HONDA, MADENCI, TURKEY KURINOURA, SHIN KURUSHIMA, KOCHI, GAS CBM 3,441 6.00M 3,227 FAR EASTERN (SAEHAN) ITALIAN (LUMASHIP SRL) LPG LPG 2,957 4.00M UNDISCLOSED LPG 2,214 2.90M UNDISCLOSED LPG 2,259 1.00M UKRAINIANS LPG
2500 BALTIC TANKER INDICES 2011 2000 1500 1000 500 0 0 5 10 15 20 25 30 BDTI 10 BCTI 10 BDTI 11 BCTI 11 35 40 45 50 Week
BULKERS GEAR CAPE AGAMEMNON 179,221 07/2010 CAPESIZE / VLOC SUNGDONG, - 98.50M GREEK INCL TC ATTACHED TP COSCO FOR 9 YRS RBD CARLO GUALDI 82,100 08/2011 GEOSAND 74,432 11/2005 CHIOS JOY 68,762 07/1989 M P PANAMAX 1 60,973 06/1981 PANAMAX / POST-PANAMAX TSUNEISHI, HUDONG, CHINA HYUNDAI, HITACHI, GLESS 42.00M GREEK GLESS 31.40M GREEK (GLOBUS MARITIME) CR4x25T 14.00M CHINESE CR4x25T 7.00M F EASTERN SHANGHAI VENTURE 53,410 04 /2007 SEA WIND I 41,635 04/1985 SEA MILD 38,888 12/1985 HOT STAR 36,941 09/1983 ORIENT BULKER 32,776 06/2005 SPAR GARNET 30,686 01/1985 ZENITH EXPLORER 28,343 08/2008 VENUS 27,036 05/1981 SUSANGO 13,537 03/1985 HANDYMAX / SUPRAMAX CHENGXI, CHINA HAYASHIKANE, ISHIKAWAJIMA, SASEBO, KANDA, SASEBO, IMABARI, NIPPONKAI, IMAI, HANDIES CR4x36T 26.00M SPANNISH (ER SHIP) CR4x25T 7.60M SYRIAN CR4x25T 5.50M CHINESE CR4x25T 5.50M FAR EASTERN CR4x30T 24.00M UNDISCLOSED CR4x25T 5.55M FAR EASTERN CR4x30T 25.50M UNDISCLOSED CR4x25T 4.70M SYRIAN DR4x15T 3.30M UNDISCLOSED SMALL BULKERS CHU HE 5,461 05/1997 QINGSHAN, CHINA GLESS 2.40M S. KOREAN
BALTIC DRY INDICES 2011 8500 7500 6500 5500 4500 3500 2500 1500 500 0 5 10 15 20 25 30 35 40 45 50 BDI 11 BCI 11 BPI 11 BSI 11 BHSI 11 BDI 10 BCI 10 BPI 10 BSI 10 BHSI 10 Week
INDICATIVE REPORTED FIXTURES RATE CHARTERERS DURATION YASA FORTUNE 2006 82,849 15,000$/D U SEA BULK MARINICKI 2005 76,629 14,500$/D CARGILL BEILUN SEA LION 2001 75,971 16,000$/D CARGILL LIGARI 2004 75,583 21,000$/D UNITED BULK PEGASUS 2009 58,736 15,500$/D ALLIED OCEAN LEADER 2010 56,136 20,250$/D NOBLE 3/5 MONTHS M EMIR AKSOY 1998 47,245 13,000$/D WBC 12 MONTHS ARISTOS II 2011 32,376 14,000$/D CNR 3/5 MONTHS WOODGATE 2011 28,200 12,500$/D CNR BALTIC DRY INDICES BDI BCI BPI BSI BHSI PREVIOUS WEEK CURRENT WEEK + / - 1269 1340 71 1564 1566 2 1450 1769 319 1390 1386-4 797 792-5
THOR NAVIGATOR TWEEN / MPP / GENERAL CARGO 20,705 05/1987 CHENGTU 20,586 01/1988 THOR NECTAR 20,433 12/1989 THOR NEXUS 20,377 02/1989 THOR NAUTICA 18,235 12/1988 Y Y Y Y Y GEAR CR5x25T 5.60M CHINESE EN BLOC CR3x25T 5.60M CHINESE CR3x25T 5.60M CHINESE CR3x25T 5.60M CHINESE CR3x25T 5.60M CHINESE MSC SIENA 58,261 01/2006 SINAR BANDUNG 14,984 06/2005 CONTAINER GEAR TEU GDYNIA, POLAND HAKATA, - 4542 59.00M GREEK CR2x40T 1060 15.20M INDONESIAN REEF REEF. CAP/TY GEAR - NO SALES REPORTED THIS WEEK - BALTICA 13,772 08/1990 FASTCAT SHANKLIN 50 03/1996 RAPPAREE 46 03/1996 PCC/ RORO / PASS HYUNDAI, KVAERNER, SINGAPORE KVAERNER, SINGAPORE CARS/ LM PAX 2240-7.00M LILBACKA SHIPPING - 360 23.50M ROSMORPORT EN BLOC - 370 23.50M ROSMORPORT
TYPE DEMOLITION LDT USD/LT SOLD TO ALSTER N COMBO 305,836 1987 42,531 505 BANGLADESH - SAMARINDA CARRIER COMBO 75,714 1981 17,106 505 BANGLADESH AS IS KOREA / INCL 750 T IFO IRIDA COMBO 75,470 1982 17,346 530 INDIA INCL FULL SPARES 3 MAJ COMBO 64,850 1988 15,369 530 INDIA - GULF SAFWA COMBO 48,016 1989 14,622 535 INDIA - SILVER CARRIER BULK 132,837 1982 19,688 505 BANGLADESH AS IS KOREA / INCL 350T IFO HAINA GOLDEN BULK 80,170 1980 12,900 450 CHINA - D ELEPHANT TANK 276,272 1991 38,909 520 PAKISTAN - OCEAN CAMAR TANK 46,100 1988 10,730 575 BANGLADESH - GAS SUEZ GAS 56,852 1977 21,010 525 INDIA - KING SUCCESS TWEEN 20,258 1978 7,800 520 INDIA - MISS KIKAKI TWEEN 15,416 1976 5,085 510 INDIA - TYPE DELY NEWBUILDINGS BULK 205,000 2012/13 QINGDAO YANGFAN 50.00M HONGXIANG SHIPPING 2+6 OPTION BULK 181,000 2012 STX ZODIAC MARITIME 2 UNITS / REPLACEMENT OF 2 ORE CARRIERS BULK 82,000 2012/13 DAEWOO MANGALIA 35.00M KC MARITIME 2 UNITS BULK 76,000 2013 STX ZODIAC MARITIME 3 UNITS / REPLACEMENT OF 2 ORE CARRIERS BULK 36,000 2013 SAMJIN 25.00M EVERLAST SHIPPING 2+2 OPTION TANK 4,999 2012 TAIZHOU SANFU CONT 14,000 TEU 2014/15 STX 140.00M LNG 160,000 CBM NORR SYSTEMS PTE LTD SEASPAN INTERNATIONAL 4 UNITS 10+10 OPTION 2013 DAEWOO 200.00M AWILCO LNG 2+2 OPTION MARKET RATES BRENT GBP USD USD K WON USD YEN EURO USD PREVIOUS WEEK 125.04 1.6657 1068.8 81,345 1.4856 CURRENT WEEK + / - 108.8-16.24 1.6422-0.0235 1084.85 80,305 16.05-1,040 1.4503-0.0353