WEEKLY SHIPPING MARKET REPORT WEEK 28 WEEK 28 (8 th Jul to 15 th Jul 2016) Market Overview During this week BDI, improved day by day, having a weekly closing at 745 points with an increase of 42 points from last week s closing. Levels now reached similar to those we were back in October 2015 and maybe this is a sign for a positive counteraction of the market. Never the less, this week in the SnP activity we have seen total sales of 15 bulk / tanker and container vessels, 10 less than previous week. Bulker In this week s sales we can see 8 vessels changing ownership, in the Capesize vessels the deal that finalized this week was that of M/V Sea Pull 177,533 Dwt / 2006 Blt at $13.7 mil, to Singaporean buyers. The vessel inspected by more than 10 buyers during this week including Greeks, and finally received the best offer from clients of Pacific International Lines. The last done for this type was the Spring Hydrangea, dated back in March 2016 sold at rgn $12.2 mil. The 2013 Chinese Kamsarmax Istria, was a big rumor for this week as others stated that vessel withdrawn from the market or sold with TC attached to European buyers, most probably Germans. After the previous week s finalized deal of Ultramax Medi Zhousan, this week was the time for the Chinese built Venice Tiziano at $16 mil to Korean buyers, $1 mil less than Medi Zhousan. Bangladeshi buyers made their moves for this week. This week the purchases for those buyers were 2003 and 2006 built supramaxs. Tanker Brent rates remained for another week below $50 per barrel, a situation that is still the same for many weeks. We can see a small improvement of $0.34 per barrel from last week s closing at $46.79. In the Wet Secondhand Market, week 28 was not so hot, as only 4 vessels changed hands with the 2 of them to be mid 2000 MR Tankers. Greeks made a move for the 2004 Korean built Teesta Spirit with SS due to 7/2016 and paid $0.6 mil more than the buyers of the ese 2005 built Challenge Prospect with SS due 6/2020. Demolition One week after the Ramadan holidays, beaching total includes 12 vessels from which 5 BC, 1 Tanker, 1 Container and 6 other types. We can see a reduction in the number of scrapped vessels as in the last week s, the situation once again remained the same. Levels for Subcontinent closed at region $255 per Ldt, while in Turkey we noticed the rates at levels $155 175 per Ldt. Advanced Shipping & Trading S.A 1 st Floor, 168 Vouliagmenis Avenue 16674 Glyfada, Greece Contact Details: Tel: +30 210 3003000 snp@advanced-ship.gr chartering@advanced-ship.gr finance@advanced-ship.gr
Second Hand Sales Bulk Carriers Name Dwt YoB Yard SS Engine Gear Price (mill.) Buyer Capesize Resale 180,000 2016 Sws, China - B&W - $ 34.0 Sea Pull 177,533 2006 Istria 81,699 2013 Mitsui Chiba, Wuhu Xinlian, China 10/2016 B&W - $ 13.7 11/2018 B&W - $ 13.2 Incl T/C Until Oct 2016 at $ 10.000/Day Greek (Diana Shipping) Singaporean (Pacific International Lines) European Darya Rani 64,000 2016 Huangpu, China - B&W 4 x 30 T $ 16.9 Chinese Darya Maya 64,000 2016 Huangpu, China - B&W 4 x 30 T $ 16.9 Chinese Venice Tiziano 63,800 2016 Yangfan, China - B&W 4 x 30 T $ 16.0 Korean Alam Murni 53,553 2003 Iwagi, 12/2020 B&W 4 x 30,5 T $ 4.9 Bangladeshi Maple Grove 53,474 2006 Imabari, 11/2016 B&W 4 x 30,5 T $ 7.8 Ocean Crystal 37,156 2012 Shin Chuetsu 25,331 1998 Saiki Heavy, Hitachi Zosen, Bangladeshi (Meghna Marine) 04/2017 Mitsubishi 4 x 30 T $ 13.0 ese 07/2018 B&W 2 x 12,5 T $ 1.9 Taiwanese Arrow 9,370 1996 Varna, Bulgaria 09/2016 B&W 2 x 40 T $ 1.6 Egyptian Advanced Shipping & Trading S.A Research 15/07/2016 2
Tankers Name Dwt YoB Yard SS Engine Price (mill.) Buyer Challenge Prospect Teesta Spirit 46,921 2004 Harbour Legend 10,048 2004 LPG Gas Oriental 26,534 2003 48,539 2005 Iwagi, 06/2020 B&W $ 13.5 Great Eastern Shipping Hyundai Mipo, Korea Yardimci, Turkey Hyundai Heavy, Korea 07/2016 B&W $ 14.1 Greek 11/2016 B&W $ 5.5 Undisclosed 05/2018 B&W Rgn $ 25.0 Undisclosed Containers Name Teu YoB Yard SS Engine Gear Annabella S 868 2006 Sietas Kg, Germany Price (mill.) 05/2021 MAK - $ 8.0 Buyer Dutch (W.E.C) Wehr Elbe 2,524 2001 Wehr Weser 2,524 2001 Kvaerner, Germany Kvaerner, Germany 12/2016 B&W 3 x 45 T 12/2016 B&W 3 x 45 T $ 3,75 Greeks (MSC) Indicative Values - Bulk Carriers Size Prompt Resale 5 years 10 years 15 years Capesize 36 24 13 8 Panamax - Kamsarmax 22 15 9 4 Supramax - Ultramax 21 14 8 3 Handysize 17 10 6 3 Indicative Values - Tankers Size Prompt Resale 5 years 10 years 15 years VLCC 86 62 46 27 Suezmax 60 48 34 21 Aframax 50 36 23 16 Panamax 42 30 20 14 MR 33 25 17 10 Advanced Shipping & Trading S.A Research 15/07/2016 3
Advanced Shipping & Trading S.A Research 15/07/2016 4 Demolition & Newbuilding Demolition Sales Vessel Type Built Ldt Dwt Price ($) Country Comments Anweshak Research 1974 222 1.320 (P&C) India Beta Offshore 1982 1.392 (P&C) Norway Chalothorn Naree BC 1996 6,040 27.079 253 India E.R. Santiago Container 1998 11,464 30.720 (P&C) India Goa BC 1997 10,500 45.801 (P&C) India Jedana Tug 1977 1.165 (P&C) India Lihai BC 1998 46.672 (P&C) China Minbei BC 1998 7,358 42.609 (P&C) Bangladesh Qinfa 10 BC 1992 12,335 69.416 (P&C) China Siteam Anja Tanker 1997 11,018 44.651 (P&C) Turkey Spring Bay Reefer 1987 2,367 5.450 252 India Typhoon Offshore 1976 (P&C) Denmark Indicative Demolition Prices Country Tanker Prices Bulker Prices India 260 255 Bangladesh 270 255 Pakistan 265 255 China 165 145 Turkey 170 150
Demolition & Newbuilding Tankers No Type Dwt Yard Delivery Owner Price (mill.) Comments 2 Vlcc 311,000 1 Vlcc 310,000 2 Aframax 113,000 4+4 Vlcc 300,000 2+2 Mr2 50,000 Nantong Cosco, China Namura, Sasebo, Jinhai Hi, China Cssc Ome, China 2017 2018 2018 2018-2019 2018-2019 2017-2018 ese (K Line) Chinese (HNA Group) Swedish (Wisby Tankers) Undisclosed Rgn $ 80.0 $ 40.0 Bulkers No Type Dwt Yard Delivery Owner Price (mill.) Comments 1 Suprama x 50,000 3 Mpp 17,500 Hyundai Mipo, Honda, 2017 2017-2018 S.Korean (Ilshin Shipping) ese (Mol) Undisclosed Undisclosed LNG fuelled Limestone Carrier Containers No Type Teu Yard Delivery Owner Price (mill.) Comments 5 New Panamax 14,000 Jmu, 2018-2019 (Nyk Line) $ 100.0 Advanced Shipping & Trading S.A Research 15/07/2016 5
Advanced Shipping & Trading S.A Research 15/07/2016 6 Dry Bulk Chartering West Australian Capesize iron ore parcels into China have, for the most part of Week28, kept being reported in the mid usd 4.00 s pmt range. Brazilian iron ore parcels into China are worth low usd 9,00 s pmt and low/mid usd 4.00 s pmt into the Continent. South African iron ore parcels into China are currently paying in the mid/high usd 6.00 s pmt. Chinese round trips via Australia are rating in the usd 8,000 s range. Transatlantic trips in the high usd 6,000 s. Continental fronthaul trips via Canada in the high usd 16,000 s. Low usd 5.00 s pmt for Colombian coal parcels into the Continent and the Mediterranean. Short period employment is being reported at usd 9,000. Australian and Indonesian Kamsarmax / Panamax coal trips into China and India are being reported in the low/mid usd 6,000 s up to usd 7,000 range. Majority of North Pacific round trips into China are worth low usd 6,000. On voyage basis, North Pacific grain parcels into are rating in the very high usd 19.00 s pmt range. South African trips into India are worth low usd 6,000 s plus a usd 120/125,000 ballast bonus. South American grain trips into the Far East are steadily holding in the high usd 7,000 s basis APS delivery plus a usd 260/280,000 ballast bonus. For the same route, delivery basis Singapore/India range remains an option at low usd 6,000 s or basis passing the Cape of Good Hope at high usd 6,000 s plus a usd 290,000ish ballast bonus. Continental coal trips into the Mediterranean are worth low usd 9,000 s. Usd 8,000ish for inter-continental trips. Low usd 8,000 s for round grain trips via Black Sea into Red Sea.US Gulf and Black Sea fronthaul trips are being reported at high usd 10,000 s and high usd 13,000 s respectively. Mid/high usd 6,000 s for short period employments. In the Ultramax / Supramax segment, backhaul steel trips out of China towards the US Gulf basin are being reported in the usd 2,000 s for the first 60ish days and high usd 6,000 s for the balance of the employment. High usd 8,000 s for Indonesia / China round coal trips. Inter-Persian Gulf employments are being rated at mid usd 5,000 s levels. Gypsum/limestone trips out of Mina Saqr into India are rating in the low/mid usd 5,000 s range basis APS delivery. Usd 12,000 plus a usd 200,000 ballast bonus for a South American trip into Iran. A reposition fixture for a West African Ultramax into the Black Sea at usd 4,550. A couple of interesting fronthaul fixtures via Black Sea with Charterers taking delivery the vessels south of the Suez Canal at low/mid usd 6,000 s. Another interesting fixture via Black Sea, this time for Bangladesh destination at low usd 10,000 s with Red Sea delivery. Continental scrap trips into Turkey are worth low/mid usd 9,000 s.usd 10,000 for a US Gulf petcoke trip into the Continent. Short period employment is worth high usd 5,000 s. Long period employment low usd 6,000 s. Low usd 4,000 s basis Canakkale delivery is the number for Handymax / Handysizetrips via Black Sea into the Mediterranean. South American trips with into the Continent are being reported in the usd 7,000 s range. Same trips into the Mediterranean are worth mid usd 8,000 s. No period activity to report here.
Baltic Indices (Friday Closing Values) Index Week 28 Week 27 Change (%) BDI 745 703 5.97 BCI 1023 1002 2.10 BPI 863 792 8.96 BSI 693 647 7.11 BHSI 363 354 2.54 Advanced Shipping & Trading S.A Research 15/07/2016 7
Key Indicators & Stock Markets Currency Week 28 Week 27 Change (%) EUR / USD 1.1132 1.1076 0.51 USD / JPY 105.87 100.58 5.26 USD / KRW 1,133.66 1,161.80 2.42 USD / NOK 8.3766 8.5074 1.54 Commodity Week 28 Week 27 Change (%) Brent Crude (BZ) 47.13 46.79 0.73 Natural Gas (NG) 2.72 2.78-2.16 Gold (GC) 1.332 1.357-1.84 Copper 225.50 212.75 5.99 Wheat (W) 431.00 430.00 0.23 Euro/Usd 1.15 1.14 1.13 1.12 1.11 1.1 1.09 06-May 13-May 20-May 27-May 03-Jun 10-Jun 17-Jun 24-Jun 01-Jul 08-Jul 15-Jul Weekly Brent Crude Price 52.00 50.00 48.00 46.00 44.00 42.00 40.00 06/05/2016 13/05/2016 20/05/2016 27/05/2016 03/06/2016 10/06/2016 17/06/2016 24/06/2016 01/07/2016 08/07/2016 15/07/2016 Advanced Shipping & Trading S.A Research 15/07/2016 8
Advanced Shipping & Trading S.A Research 15/07/2016 9 Bunker Prices Port IFO 380 IFO 180 MGO Piraeus 256 273 419 Fujairah 248 290 505 Singapore 244 255 415 Rotterdam 234 259 393 Houston 225 318 453 Shipping Stock Prices Dry Bulk Company Stock Exchange Week 28 Week 27 Change (%) Diana Shipping Inc (DSX) NASDAQ 3.11 2.45 26.94 DryshipsInc (DRYS) NASDAQ 0.44 0.46 4.35 Euroseas Ltd (ESEA) NASDAQ 1.97 1.86 5.91 Eagle Bulk Shipping Inc (EGLE) NASDAQ 0.370 0.370 0.00 Navios Maritime (NM) NYSE 0.96 0.82 17.07 Navios Maritime PTN (NMM) Paragon Shipping Inc (PRGN) Star Bulk Carriers Corp (SBLK) Seanergy Maritime Holdings Corp (SHIP) NYSE 1.46 1.30 12.31 NASDAQ 0.390 0.370 5.41 NASDAQ 3.760 3.200 17.50 NASDAQ 2.10 2.10 0.00 Safe Bulkers Inc (SB) NYSE 1.330 1.090 22.02 Golden Ocean (GOGL) NASDAQ 0.728 0.660 10.30 Shipping Stock Prices Wet Company Stock Exchange Week 28 Week 27 Change % Capital Product Partners LP (CPLP) NASDAQ 3.05 2.80 8.93 TOP Ships Inc (TOPS) NASDAQ 1.59 1.63 2.45 Tsakos Energy Navigation (TNP) NYSE 5.13 4.69 9.38
Advanced Shipping & Trading S.A Research 15/07/2016 10 Shipping Stock Prices Other Company Stock Exchange Week 28 Week 27 Change (%) Aegean Maritime Petrol (ANW) NYSE 6.49 5.50 18.00 Danaos Corporation (DAC) NYSE 4.14 3.28 26.22 StealthGasInc (GASS) NASDAQ 3.44 3.48 1.15 Rio Tinto (RIO) NYSE 33.22 30.28 9.71 Vale (VALE) NYSE 5.41 4.82 12.24 ADM Archer Daniels Midland (ADM) NYSE 43.68 42.12 3.70 BHP Billiton (BHP) NYSE 30.89 27.78 11.20 Legal Disclaimer The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up-to-date, Advanced Shipping & Trading S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report. Research compiled by:advanced Shipping & Trading S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: research@advanced-ship.gr