MONTHLY MARKET OVERVIEW 1st 31st August 218 SUMMARY OF CONTENT Value analysis Total second hand S&P activity Newbuilding activity Demolition activity Charter rate analysis info@
BULKER VALUES THROUGH AUGUST 218 BULKERS Capesize values have firmed throughout August. Panamax, Supramax and Handy values have softened for modern tonnage. This table shows the monthly % change in value from 1 st to the 31 st August 218 for Bulker vessels, by year of build. YEAR OF BUILD 218 217 216 215 214 213 212 211 21 29 28 27 26 25 24 23 CAPE PMAX SUPRA HANDY D WT DWT DWT DWT +2.5% -1.1% -.5% +1.4% -1.2% -.6% -.5% +.6% -1.3% -.9% -.4% +.1% -1.4% -1.1% +.1% -1.4% -1.2% +.1% -1.4% -1.3% -.1% +.2% -1.4% -1.3% -.1% +.6% -1.4% -1.2% +.% +1.3% -1.4% -1.% +.1% 55k +2.% -1.3% -.8% +.3% 55k +2.8% -1.2% -.6% +.3% 55k +3.6% -1.7% -.2% +.4% 55k +4.5% -1.6% +.2% +.6% 55k +5.3% -1.5% +.6% +.6% 55k +6.1% -1.4% +1.% +.8% 55k +6.8% -1.2% +1.6% +.9% 1 info@
BULKER VALUES THROUGH AUGUST 218 Capesize Values have firmed slightly. 9 sales have taken place this month. ER Schiffahrt has sold six Capesize vessels and one Supramax to Star Bulk Carriers in a cash plus shares deal. Safe Bulkers has sold Five Stars Fujian (181,4 DWT, Nov 29, Sasebo) for USD 24.8 mil at auction, VV value USD 28.76 mil. Older tonnage NSS Grandeur (176,9 DWT, Jan 26, Mitsui Ichihara) sold for USD 2.5 mil, VV value day before sale USD 19.72 mil. Panamax Values have softened across the board. 7 sales have taken place this month. Glory Rotterdam (74,7 DWT, Feb 21, Hudong Zhonghua) sold for USD 8.1 mil, VV value USD 8.2 mil. Genco Surprise (72,5 DWT, Aug 1998, Imabari) sold for USD 5.45 mil SS Due, VV value USD 7.38 mil. Supramax Values have softened in mid age tonnage. 12 sales have taken place this month. Nautical Aventurin (56,8 DWT, Aug 212, Jiangsu Hantong) sold for USD 13.55 mil, VV value USD 13.91 mil. Bulk Neptune (55,7 DWT, Apr 29, Mitsui Tamano) sold for USD 15. mil, VV value USD 15.1 mil. Tschaikowsky (58,8 DWT, Nov 28, Tsuneishi Cebu) sold to AO Schifffahrt for USD 14.2 mil at auction, VV value USD 14.64 mil. Navios has exercised a purchase option to acquire the Navios Primavera (53,5 DWT, May 27, Iwagi Zosen) for USD 1.5 mil, VV value USD 12.73 mil. Handy Values have have remained stable. 1 sales have taken place this month. Global Arc (34,4 DWT, Jul 213, Shin Kochi) was sold for USD 15.3 mil, VV value USD 15.56 mil. Bright Rainbow (28,4 DWT, Mar 213, I-S) was sold from Doun Kisen for USD 12 mil, VV value USD 12.55 mil. Clipper Valour (34,8 DWT, Nov 23, Tianjin Xingang) sold for USD 6.2 mil, VV value USD 6.3 mil. info@
TANKER VALUES THROUGH AUGUST 218 TANKERS Values have softened across all types with the exception of VLCC s which have firmed. This table shows the monthly % change in value from 1 st to the 31 st August 218 for Tanker vessels, by year of build. YEAR OF BUILD 218 217 216 215 214 213 212 211 21 29 28 27 26 25 24 23 VLCC SUEZ AFRA LR1 MR D WT DWT DWT DWT DWT +1.3% -.2% -3.9% -6.% -2.9% 3 1 +1.3% -4.2% -6.2% -2.9% 3 1 +1.2% -.4% -4.4% -6.5% 3 1 +1.2% -.4% -4.7% -6.7% 3 1 +1.2% -.5% -4.9% -7.% 3 1 +1.3% -.6% -5.1% -7.2% -3.1% 3 1 +1.3% -.7% -5.3% -7.4% -3.1% 31k 1 +1.4% -.8% -5.3% -7.4% -3.1% 31k 1 +1.4% -.8% -5.3% -7.4% -3.1% 31k 1 +1.5% -.9% -5.2% -7.3% -3.1% 31k 1 +1.7% -.9% -5.% -7.1% 31k 1 +1.8% -1.% -4.7% -6.8% 31k 1 +1.9% -1.% -4.4% -6.2% -3.1% 31k 1 7k 45k +2.1% -1.% -3.9% -5.8% 31k 1 7k 45k +2.2% -1.1% -4.% -5.4% 35k 155k 15k 7k 45k +2.4% -1.1% -3.4% -4.9% -2.9% 35k 155k 15k 7k 45k info@
TANKER VALUES THROUGH AUGUST 218 VLCC Values have firmed in older tonnage. 3 sales were confirmed this month. Shanghai (32, DWT, Jun 215, Jinhai) sold for USD 51.5 mil to Delta Tankers, VV Value USD 57.76 mil. Gloric (298,5 DWT, Jun 26, Universal) sold for USD 33.3 mil to Aeolos Management, VV Value USD 3.3 mil - Spares on board, well maintained. Sea Latitude (39,3 DWT, Dec 21, HHI) sold for USD 22.5 mil to Ocean Tankers, VV Value USD 18.9 mil. Suezmax Values remain stable. No sales were confirmed this month. Aframax Values have softened across all tonnage. 2 sales have been concluded this month. Glory Crescent (15,4 DWT, Jan 213, HHI) sold for USD 25.3 mil to Singaporean buyers, VV Value USD 27.1 mil - Uncoiled. Sigma Integrity (15,3 DWT, Feb 29, HHI) sold for USD 2.5 mil to Latsco Shipping, VV Value USD 2.7 mil. LR1 Values have softened across all ages. 1 sale has been concluded this month. Cape Texel (73,7 DWT, Jan 29, New Times) sold for USD 12.5 mil to Norwegian buyers, VV Value USD 14.36 mil SS Due. MR Values softened slightly. 9 sales have taken place this month. PTI Phoenix (51,3 DWT, Feb 27, STX Offshore) sold for USD 13.5 mil to South Korean buyers, VV Value USD 14.32 mil Trading Dirty. Silver Express (47,4 DWT, Aug 29, Onomichi) sold for USD 15.3 mil to Astra Shipmanagement, VV Value USD 16.1 mil. Rimar (46, DWT, Feb 1998, Halla) sold for USD 5 mil to M Shipping, VV Value USD 5.1 mil. MR Nautilus (43,5 DWT, May 1998, Uljanik Brodogradiliste) sold for USD 4.8 mil, VV Value USD 4.62 mil. info@
CONTAINER VALUES THROUGH AUGUST 218 CONTAINERS Post Panamax values have remained stable, modern Panamax values have softened with older tonnage remaining stable. Handy and Feedermax values have softened across the board. This table shows the monthly % change in value from 1 st to the 31 st August 218 for Container vessels, by year of build. YEAR OF BUILD POST PMAX PMAX HANDY FMAX TE U TEU TEU TEU -.7% -2.9% -1.8% -9.5% -.8% -1.8% -9.6% -.9% -2.% -9.5% -.9% -3.1% -2.1% -9.4% -.9% -3.1% -2.2% -9.3% -.9% -2.5% -9.1% -.9% -2.7% -8.9% -.8% -2.9% -8.6% -.7% -2.9% -3.2% -8.3% -.7% -2.8% -3.5% -7.9% -.5% -2.7% -3.8% -7.5% -.5% -4.1% -7.1% -4.4% -6.7% -.2% -4.7% -6.2% -5.1% -5.7% -5.5% -5.3% 65 4 218 217 216 215 214 213 212 211 21 29 28 27 26 25 24 23 info@
CONTAINER VALUES THROUGH AUGUST 218 Post PMax Values have remained stable. No sales have taken place this month. Panamax Values have firmed in modern tonnage No sales have taken place this month. Handy Values have softened in older tonnage. 1 sale has taken place this month. Hammonia Emden (2,558 TEU, Jan 26, Hyundai HI) sold to XT Shipping for USD 12.8 mil, VV value USD 13.75 mil. Feedermax Values have softened in older tonnage. 2 sales have been confirmed this month. Reecon Whale (15 TEU, Sept 211, Anadolu) sold for USD 8.5 mil, VV value USD 1.75mil. Ice Runner (698 TEU, Oct 28, Sainty Marine) sold for USD 3 mil with SS due, VV value USD 3.7 mil. info@
LPG VALUES THROUGH AUGUST 218 LPG All LPG values remained stable this month, except Fully Pressurised which have firmed. This table shows the monthly % change in value from 1 st to the 31 st August 218 for LPG vessels, by year of build. YEAR OF BUILD 218 217 216 215 214 213 212 211 21 29 28 27 26 25 24 23 VLGC LGC MGC SP FR LARGE SP FR SMALL FULL PRESS LEG CBM CBM C BM C BM C BM C BM C BM +.4% +2.6% +5.7% +.6% 84k 3 12k +.4% +2.6% +5.8% +.7% 84k 3 12k +.3% -.4% +.4% +2.7% +5.8% +.7% 84k 3 12k +.2% -.4% +.4% +2.7% +5.8% +.7% 84k 3 12k +.2% -.5% +.3% -.2% +2.7% +5.8% +.7% 84k 12k +.% -.6% -.2% +2.7% +5.8% +.8% 82k 9k -.1% -.7% +.4% -.2% +2.7% +5.9% +1.6% 82k 9k -.2% -.8% +.3% -.1% +2.8% +5.9% +1.6% 82k 9k -.4% -.9% +.1% -.1% +2.9% +6.% +1.7% 82k 9k -.5% -1.2% +.% -.1% +2.9% +6.% +1.7% 82k 9k -.8% -1.3% +.% +3.% +6.2% +1.8% 82k -1.% -1.5% -.5% +.% +3.% +6.1% +2.2% 82k -1.3% -1.8% -.8% +.1% +3.% +6.3% +2.3% 82k -1.7% -2.1% -1.% +.2% +3.% +6.2% +2.3% 7-2.% -2.4% -1.4% +.2% +3.2% +6.2% +2.4% 7-2.4% -2.8% -1.7% +.3% +3.2% +6.5% +2.5% 7 info@
LPG VALUES THROUGH AUGUST 218 VLGC Values have softened in older tonnage. 2 sales have been confirmed this month. G Commander (78,479 CBM, Nov 1995, Mitsubishi) sold for USD 8.5 mil, to Sinogas, VV Value USD 14.8 mil DD Due. Gas Al Gurain (78,475 CBM, Jun 1993, Mitsubishi) sold for USD 8.7 mil to Siam Lucky Marine, VV Value USD 11.7 mil SS/DD Due. LGC Values have softened slightly in older tonnage. No sales have been confirmed this month. MGC Values have remained stable. No sales have been confirmed this month. Fully Pressurised Values have firmed. No sales have been confirmed this month. info@
OFFSHORE VALUES THROUGH AUGUST 218 OSV Values have softened for Large and Medium PSV s but firmed in the Small sector. Values have softened for Medium and Small AHTS/AHT s. This table shows the monthly % change in value from 1 st to the 31 st August 218 for OSV vessels, by year of build. YEAR OF BUILD 218 217 216 215 214 213 212 211 21 29 28 27 26 25 24 23 LARGE PSV MEDIUM PSV SMALL PSV SUPER AHTS MEDIUM AHTS SMALL AHTS D WT D WT DWT BHP BHP BHP -2.3% +2.7% +21.7% +.7% -9.1% -2.6% 3.6k 1.7k 8.2k 5.5k -3.7% +1.3% +19.9% +.6% -9.5% -2.9% 3.6k 1.7k 8.2k 5.5k -5.4% -.6% +17.8% -9.5% -2.6% 3.6k 1.7k -7.3% -2.4% +15.4% +.4% -1.% 3.6k 1.7k -9.% -3.4% +13.4% +.3% -1.3% -3.4% 3.4k 1.7k -1.3% -4.4% +11.3% +.2% -1.6% -3.6% 5.1k 1.7k -1.8% -5.7% +9.8% +.2% -11.% -4.2% 4. 1.7k -11.6% -6.6% +1.9% +.1% -1.8% -4.2% 4. -12.% -6.9% +1.8% +.1% -11.2% -3.7% 4. 5.1k -12.2% -7.% +1.4% +.% -11.1% -3.2% 4. 5.1k -11.8% -6.9% +1.8% +.% -11.1% -4.4% 4. 5.1k -11.3% -6.4% +11.8% -.1% -1.8% -4.1% 4. 5.1k -1.5% -5.4% +11.5% -.1% -1.6% -2.8% 4. 5.1k -9.7% -4.5% +13.2% -.1% -11.1% -3.7% 4. 5k -8.7% -3.5% +14.8% -.2% -1.7% -4.8% 4. 5k -7.1% -2.6% +14.3% -.2% -9.1% -5.9% 4. 5k info@
OFFSHORE VALUES THROUGH AUGUST 218 PSV Values have softened for Large and Medium PSV s but firmed in the Small sector. 2 sale has been confirmed this month. Restructuring Emas Offshore offloaded one of its Large PSVs this month. The Lewek Aquarius (5,4 DWT, May 212, Remontowa) sold to Rem Offshore for USD 11. mil. Vessel was laid up and SS due. Havila Fortress (4,7 DWT, Aug 1996, BAE Systems) has gone to an undisclosed party for an undisclosed sum. AHTS & AHT Values have softened for Medium and Small AHTS/AHT s. 7 AHTS sales have been confirmed this month. Notable sales for the month include Viking Supply Ships offloading 3 of its ice breaking Super Large AHTS to the Canadian Government for an undisclosed sum. The vessels include Vidar Viking (18,3 BHP, Feb 21, Havyard Leirvik), Balder Viking (18,3 BHP, Oct 2, Havyard Leirvik) and Tor Viking (18,3 BHP, Mar 2, Havyard Leirvik). Bhagwan Marine has scooped up the small AHTS CMV Athos (5,917 BHP, June 217, Yuexin) from Caspian Mainport for an undisclosed sum. MMA Confidence (8, BHP, July 21, Tongfan Jiangxin) has been sold by MMA Offshore to Perenco for an undisclosed sum. info@
2ND HAND S&P ACTIVITY AUGUST 218 S&P $ Value of 2nd hand sales in August 218 vs August 217. 1, Aug 218 $929.1 Aug 217 9 Value (M USD) 8 7 6 5 4 $382.6 $277.4 3 $217.5 $168.4 2 1 $24.3 Bulker Tanker $17.2 $3.3 $11. $. Gas OSV Container Total spending is down c.46% compared to August 217. Bulker spending shows a decrease of c.59% from August 217. Tanker spending has increased by c.28% from August 217. Container spending dropped c.86% compared to August 217. Gas spending is c.5 times higher than August 217. 217 OSV sale prices were undisclosed compared to a USD 11 mil in August 218. S&P No. Number of 2nd hand sales taken place in August 218 vs August 217. 45 4 39 Aug 218 42 Aug 217 No. Vessels 35 3 25 22 2 17 18 15 9 1 6 5 Bulker Tanker Container 5 4 2 Gas OSV Total number of sales is down by c.2% compared to August 217. Number of Bulker sales shows a decrease of c.7% from August 217. Number of Tanker sales has decreased by c.6% from August 217. Number of Container sales has dropped to just c.27% of August 217. Number of Gas sales have halved compared to August 217. Number of OSV sales are up c.8% from August 217. info@
NEWBUILDING ACTIVITY AUGUST 218 Newbuilding No. Number of newbuilding orders taken place in August 218 vs August 217. Aug 218 45 Aug 217 39 4 No. Newbuildings 35 3 25 19 2 15 12 12 1 5 9 8 2 Bulker Tanker 1 Container Gas OSV Total number of newbuild orders are down by c.5% compared to August 217. Mangrove Partners ordered 2 Capesize bulkers (28,, DWT, 221, Jiangsu Yangzijiang) en bloc for USD 97 mil. Yang Ming Marine Transport ordered 1x Sub Panamax Containers (2,8, TEU, 221, CSBC) en bloc for USD 375 mil. Celcius Shipping ordered 2 Large LNG carriers (18, CBM, 22, Samsung) en bloc for USD 37 mil. info@
DEMOLITION ACTIVITY AUGUST 218 Demolition No. Number of demolition sales per ship type, taken place in August 218 vs August 217. Aug 218 25 Aug 217 2 2 No. Demo sales 16 15 1 5 3 2 Bulker 6 5 5 Tanker 4 2 Container 2 Gas OSV Total demolition sales this month are one third of total sales in August 217. Very few sales to report this month, Tankers remain dominant. Bulkers sales for this year to date are 33 compared to 152 for Jan - Aug 217. Demolition Trend Demolition price trend for Tanker Price India from August 217 August 218. Tanker scrap price 5 USD/LDT 45 4 35 3 25 Oct 217 Jan 218 Apr 218 Jul 218 Sentiment remained steady through the beginning of the August and has firmed through to the end of the month. Limited buying activity has continued throughout August due to Eid holidays across Pakistan and Bangladesh. An increase in local steel plate prices towards the end of the month helped the market pick up. info@
CHARTER RATES Dry Baltic Exchange daily market spot rates for Capesize, Panamax, Supramax and Handy Bulkers from 1st August 217-31st August 218. Source: Baltic Exchange Capesize Panamax Supramax Handy 35, (USD per day) 3, 25, 2, 15, 1, 5, Oct 217 Jan 218 Apr 218 Jul 218 Capesize rates have been volatile this month, decreasing slightly overall since the beginning of the month. Panamax rates dropped during early August but have recovered back to roughly USD 1,25/day. Supramax rates saw a slight increase towards the end of August. Handysize rates remained stable throughout August. Wet Baltic Exchange daily market spot rates for VLCC, Suezmax and Aframax Tankers from 1st August 217 31st August 218. Source: Baltic Exchange VLCC Suezmax Aframax 25, (USD per day) 2, 15, 1, 5, -5, Oct 217 Jan 218 Apr 218 Jul 218 VLCC rates were volatile during the month of August, softening to USD 43/day and firming again to USD 5,25/day. Suezmax and Aframax rates firmed throughout August, following a similar trend to VLCC rates. info@
CHARTER RATES Container Contex daily time charter rates for Panamax, Handysize and Feedermax Containers from 1st August 217 31st August 218. Source: Contex, VHSS Panamax Handy Feedermax 16, 14, (USD per day) 12, 1, 8, 6, 4, 2, Oct 217 Jan 218 Apr 218 Jul 218 Rates continued to soften for all Container vessels from Panamax through to Feedermax throughout August. LPG Fearnleys weekly market spot rates for VLGC, MGC and LEG Gas ships from 1st August 217 31st August 218. Source: Fearnley's VLGC MGC LEG (Thousand USD per month) 8, 7, 6, 5, 4, 3, 2, 1, Oct 217 Jan 218 Apr 218 Jul 218 VLGC rates firmed until mid-august, peaking at USD 756,/month, softening slightly thereafter. Rates remained stable for the MGC and LEG gas vessels throughout August 218. info@