WEEKLY SHIPPING MARKET REPORT WEEK 28 (4 th July to 10 th July 2015) 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, Shiptrade Services 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: Shiptrade Services S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: market-research@shiptrade.gr Shiptrade Services S.A. Tel +30 210 4181814 snp@shiptrade.gr 1st Floor, 110/112 Notara Street Fax +30 210 4181142 chartering@shiptrade.gr 185 35 Piraeus, Greece www.shiptrade.gr tankerchartering@shiptrade.gr
Top Stories: Shipping, Commodities & Global Economy Greek Shipowners Can t Buy Fuel Due to Capital Controls Capital controls introduced by the Greek government could have a ripple effect on Greek shipowners leaving their ships stranded in port as they are unable to buy fuel. The estimate relates to up to a fifth of the country s fleet, according to the Telegraph, which have been prevented from doing business outside the country due to the capital control implemented as the country had run out of Euros. There is a problem in the industry because many companies cannot buy any oil, a source at the Zouros Shipping Company in Piraeus told the UK newspapers. Many ships are locked in harbours maybe as many as 20pc and are not allowed to make payments outside the country because of capital controls. The effect of the capital controls is the biggest on smaller companies dependent on local banking system, Zouros said, whereas for bigger players with accounts outside Greece it is business as usual. According to an update from Inchcape Shipping Services (ISS) on port operations in Greece and local conditions to 7 July 2015, there were no issues or changes of itinerary because of capital controls with respect to cruises. Piraeus container terminal has not reported operational delays in port operations since capital controls were enforced and the only vessel supply operation presently affected is delivery of Cash to Master for any vessel type. ISS said that foreign bank card holders (tourist and cruise passengers) could use ATMs as normal. However, remittances outside Greece from a Greek bank account are still not possible. As informed, there have been no incidents to date affecting port safety and/or security. ISS said that imports are expected to be affected in the near future but initially only for local importers that do not have a non-greek bank account. Source: World Maritime News Staff technicians? How can we better connect research with businesses all over Europe, ensuring that good ideas find their way from the drawing board to the market? What are the priorities for investment? The Commissioner was therefore particularly interested in hearing how the sector could be strengthened, be it by improving skills, fostering innovation or making the most of existing funding opportunities. The meeting was also an occasion for maritime stakeholders to share their views in the context of the Commission s Ocean Governance consultation. The consultation, which is open until 15th September, asks what the EU can do to improve international governance of our oceans and seas. Source: European Commission Thermal coal imports up 23% in April-June at India s state-run ports India s 12 major government-owned ports handled 24.08 million mt of imported thermal coal in the April-June period, up 22.73% from the same period a year ago, according to Indian Ports Association data released Tuesday. Coking coal imports in the first quarter of the current fiscal year 2015-16 were up marginally by 0.86% to 8.17 million mt from 8.10 million mt a year ago, the data showed. Paradip port on the east coast handled the highest volume of thermal coal imports during April-June at 7.6 million mt, up 13% from 6.7 million mt a year ago. Paradip also received the highest coking coal shipments in the three-month period under review at 2.3 million mt compared to 1.8 million mt in the same period last year, representing an increase of 27.7%. The 12 ports are Kolkata, Paradip, Visakhapatnam, Kamarajar (Ennore), Chennai, VO Chidambaranar (Tuticorin), Cochin, New Mangalore, Mormugao, Mumbai, Jawaharlal Nehru Port Trust (JNPT) and Kandla. Source: Platts Maritime clusters unlock benefits of cooperation for the blue economy A strong economy in Europe needs a strong and sustainable maritime sector and by forging connections between science, education and business, maritime clusters can help make this happen. This was the key message that Commissioner Karmenu Vella, responsible for Environment, Maritime Affairs and Fisheries, shared at a meeting of the European Network of Maritime Clusters (ENMC) on Thursday, 2nd July. The ENMC represents most of Europe s maritime industries via 17 national clusters. Thanks to the clusters that are now all over Europe, businesses are able to network on innovation, create economies of scale, and cooperate with each other nationally and internationally. The sum of your experience can help us move forward and feed into our decision making, helping us shape better policies. This is why I would be interested to hear your views today, Mr Vella said. Maritime industries are at the heart of the EU s ambitions for blue growth, research, innovation and competitiveness. They account for about 5 million jobs and between 3.5 and 4.5 percent of the EU s GDP. But they are also facing a number of challenges. How can we solve the paradox of a high level of youth unemployment but a shortage of qualified Shiptrade Services S.A. Weekly Market Report 2
Secondhand Sales Bulk Carriers Sale & Purchase Name Dwt YoB Yard SS Engine Gear Price (mill.) Buyer Billion Trader 82,922 2005 Tsuneishi, Jpn 09/2015 B&W - Rgn $12.5 European Bergen Trader 81,582 2011 Sungdong, Kr 09/2016 B&W - $18.6 Greek Trellis 1 79,501 2012 Jinhai, Chn 01/2017 B&W - $11.5 Undisclosed Spartia 75,115 2000 Hitachi, Jpn 03/2020 B&W - $6.5 Greek Proteus 73,018 1999 Daedong, Kr 01/2019 B&W - $4.8 Greek Washington Trader 74,228 2000 Sasebo, Jpn 01/2020 B&W - $5.0 Undisclosed Proteus 73,018 1999 Daedong, Kr 01/2019 B&W - $4.5 Greek North Princess Pacific Mercury 70,164 1996 Namura, Jpn 05/2016 Sulzer - $4.1 Undisclosed 49,016 1996 Oshima, Jpn 07/2016 B&W 4 x 35 $4.8 Chinese Secondhand Sales - Tankers Name Dwt YoB Yard SS Engine Hull Price (mill.) Buyer Rene 314,014 2002 Mitsui, Jpn 01/2017 B&W DH $40.0 Undisclosed Sasa 300,259 2001 Hitachi, Jpn 05/2016 B&W DH $40.5 Russian Bw Ulan 299,325 2000 Daewoo, Kr 03/2020 B&W DH $39.0 Undisclosed Acadia 113,005 2006 New Times, Chn 09/2018 B&W DH $38.0 Lion Spirit 105,203 1997 Onomichi, Jpn 06/2017 B&W DH $9.3 Middle Eastern SPP Resale 50,300 2016 SPP, Kr - B&W DH $37.5 TNG SPP Resale 50,300 2016 SPP, Kr - B&W DH $37.5 Unicorn Challenge Passage Overseas Luxmar Greek 48,658 2005 Iwagi, Jpn 04/2020 B&W DH n/a Undisclosed 45,999 1998 Halla, Kr 01/2018 B&W DH $9.2 Undisclosed Elka Glory 44,598 2003 Brodosplit, Cro 02/2018 B&W DH $14.5 Undisclosed Asia Glory 16,705 2012 Jiangsu, Chn 04/2019 B&W DH $14.0 Undisclosed Asma 4,450 2006 Linhai, Chn 07/2019 John Augustus Essberger Chinese Std DH n/a Mediterranean 3,742 1992 Sietas, Ger 11/2017 MAK DH $2.8 Russians LNG Wilpower 69,991 1983 Kawasaki, Jpn 07/2015 Kawasaki - n/a Undisclosed LPG Gas Hagi 6,044 2011 Kyokuyo, Jpn 09/2016 B&W - Rgn $17.5 Greek Shiptrade Services S.A. Weekly Market Report 3
Secondhand Sales Containers Name Teu YoB Yard SS Engine Gear Price (mill.) Buyer Ital Fortuna 3,450 2007 Hyundai, Kr 06/2017 B&W - $18.1 Undisclosed Paola 1,118 2005 Jinling, Chn 09/2015 B&W - $4.4 German Indicative Values - Bulk Carriers Size Prompt Resale 5 years 10 years 15 years Capesize 44 29 18 10 Panamax - Kamsarmax 27 17 10 7,5 Supramax - Ultramax 25 16,5 10 7 Handysize 21 14 9 5 Indicative Values - Tankers Size Prompt Resale 5 years 10 years 15 years VLCC 99 80 51 30 Suezmax 70 59 40 22 Aframax 55 45 30 15 Panamax 43 32 23 11 MR 36 26 17 13 Shiptrade Services S.A. Weekly Market Report 4
Newbuilding Orders Tankers Newbuilding & Demolition No Type Dwt Yard Delivery Owner Price (mill.) Comments 5 VLCC 320,000 Hyundai, Kr 2017-2018 4 Aframax 114,000 Guangzhou, Chn 2017 Newbuilding Orders Containers Saudi Arabian (Bahri) China Ship. Development Undisclosed No Type Dwt Yard Delivery Owner Price (mill.) Comments 5 Panamax 3,000 Imabari, Jpn - 5 Sub - Panamax Demolition Sales 2,800 CSBC, Taiwan - Taiwanese (Evergreen) Taiwanese (Evergreen) $50,0 $37,0 39,0 $37,0 39,0 Vessel Type Built Ldt Dwt Price ($) Country Comments Oloibiri Tanker 1976 38,605 276,895 380 Bangladesh Adamastos BC 1995 21,475 73,506 Undisclosed Undisclosed Cape Pioneer BC 1994 18,567 149,936 350 Bangladesh As Is Singapore Solidarnosc BC 1991 13,610 73,470 358 Pakistan De Zhou Hai BC 1995 12,192 69,968 Undisclosed China Great Bright BC 1997 10,758 73,242 202 China Great Glory BC 1997 10,716 73,274 202 China Bulk Discovery BC 1989 9,997 69,346 363 Bangladesh Chittagong Lucky Dolphin BC 1988 8,691 42,304 375 India Ingenious BC 1985 7,149 38,888 347 Bangladesh Xin Yang 9 BC 1984 6,500 1,600 230 Bangladesh Syn Markab LPG 1992 2,650 4,444 485 India 523 MTs Nickel in tanks Navakun 14 LPG 1979 0,799 741 365 Bangladesh Indicative Demolition Prices Country Tanker Prices Bulker Prices India 365 350 Bangladesh 375 355 Pakistan 385 355 China 230 210 Turkey 250 230 Shiptrade Services S.A. Weekly Market Report 5
Baltic Indices (Friday Closing Values) 1 year T/C rates ($/day) Dry Bulk Chartering Index Week 28 Week 27 Change (%) BDI 874 805 8,57 BCI 1318 1249 5,52 BPI 1052 908 15,86 BSI 767 716 7,12 BHSI 384 361 6,37 Type Size (k dwt) Week 28 Week 27 Change (%) Capesize 160-175 8539 8116 5,21 Panamax 72-76 8380 7235 15,83 Supramax 52-57 8021 7490 7,09 Handysize 30-35 5665 5331 6,27 Average spot rates ($/day) Type Size (k dwt) Route Week 28 Week 27 Change (%) Capesize 160-175 Panamax 72-76 Supramax 52-57 Handysize 30-35 F. East - ATL 730 525 39,05 Cont/Med - F. East 16570 15900 4,21 F. East RV 7845 7177 9,31 TransAtlantic RV 9010 8860 1,69 F. East - ATL 873 676 29,14 ATL - F. East 14305 12545 14,03 Pacific RV 6943 6293 10,33 TransAtlantic RV 11400 9425 20,95 F. East - ATL 5605 5580 0,45 ATL - F. East 10625 9535 11,43 Pacific RV 6729 6783 0,80 TransAtlantic RV 8640 8160 5,88 Far East - ATL 3346 3148 6,29 ATL - F. East 10133 9551 6,09 Pacific RV 6349 5979 6,19 TransAtlantic RV 5481 5152 6,39 Shiptrade Services S.A. Weekly Market Report 6
Exchange Rates Bunker Prices Commodities Key Indicators & Stock Markets Currency Week 28 Week 27 Change (%) EUR / USD 1,111 1,111 0,00 USD / JPY 122,18 122,95 0,63 USD / KRW 1,129 1,122 0,62 USD / NOK 8,002 7,93 0,91 Port IFO 380 IFO 180 MGO Piraeus 310 335 535 Fujairah 317 338 730 Singapore 308 321 501 Rotterdam 294 327 497 Houston 295 345 560 Commodity Week 28 Week 27 Change (%) Brent Crude (BZ) 53,73 56,62 5,10 Natural Gas (NG) 2,74 2,84 3,52 Gold (GC) 1,161 1,167 0,51 Copper 254,05 263,50 3,59 Wheat (W) 578,00 590,50 2,12 Shiptrade Services S.A. Weekly Market Report 7
Shipping Stock Prices - Dry Bulk Key Indicators & Stock Markets Company Stock Exchange Week 28 Week 27 Change (%) Baltic Trading Ltd (BALT) NYSE 1,45 1,63 11,04 Diana Shipping Inc (DSX) NASDAQ 7,08 7,28 2,75 Dryships Inc (DRYS) NASDAQ 0,53 0,59 10,17 Euroseas Ltd (ESEA) NASDAQ 0,71 0,72 1,39 Eagle Bulk Shipping Inc (EGLE) NASDAQ 7,57 7,38 2,57 Freeseas Inc (FREESE) NASDAQ 2,67 2,77 3,61 Navios Maritime (NM) NYSE 3,64 3,64 0,00 Navios Maritime PTN (NMM) NYSE 10,37 10,82 4,16 Paragon Shipping Inc (PRGN) NASDAQ 0,61 0,70 12,86 Star Bulk Carriers Corp (SBLK) NASDAQ 2,62 2,91 9,97 Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,64 0,66 3,03 Safe Bulkers Inc (SB) NYSE 3,18 3,35 5,07 Golden Ocean (GOGL) Oslo Bors 3,51 3,95 11,14 Shipping Stock Prices - Wet Company Stock Exchange Week 28 Week 27 Change (%) Capital Product Partners LP (CPLP) NASDAQ 7,27 7,79 6,68 TOP Ships Inc (TOPS) NASDAQ 1,14 1,03 10,68 Tsakos Energy Navigation (TNP) NYSE 9,15 9,47 3,38 Shipping Stock Prices - Other Company Stock Exchange Week 28 Week 27 Change (%) Aegean Maritime Petrol (ANW) NYSE 12,48 12,18 2,46 Danaos Corporation (DAC) NYSE 5,40 6,17 12,48 StealthGas Inc (GASS) NASDAQ 5,79 6,37 9,11 Rio Tinto (RIO) NYSE 38,53 41,04 6,12 Vale (VALE) NYSE 5,42 5,85 7,35 ADM Archer Daniels Midland (ADM) NYSE 47,09 48,65 3,21 BHP Billiton (BHP) NYSE 38,40 41,29 7,00 Shiptrade Services S.A. Weekly Market Report 8
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