MARKET REPORT WEEK 22 & 23 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 9 TH JUNE 2017. World politics is very muddled at the moment (Trump / May / Brexit / EU / Qatar / Kim Jong-un etc) so in some ways its surprising the BDI managed any improvement at all, however via better rates from Wednesday onwards, it managed a +2% improvement w-o-w. It was the larger size vessels that actually improved, the BCI by +4.5% and BPI by +2.5% but in our opinion they are not great overall world market indicators as we are really only talking about the carriage of iron ore, coal and grains in these vessels. The more 'workhorse' vessels in the BSI and BHSI groups were still down by a further - 3% and -5% respectively, and though in coming weeks we understand there might be a pick up in the South Atlantic for these sizes too, it will likely also be because of improved grain liftings but for the smaller sizes. Overall Dry and Wet S+P both enjoyed quite a lot of activity in the past two weeks, but for different reasons. On the dry side it seems that the poor freight rates since Easter have definitely cooled values, which case those buyers with cash to spend are wisely dealing now while there is less buying competition and the sellers don't have the justification of a rising market to be so bullish on levels they will accept. On the wet side, there remains a growing feeling that the big slide in rates and therefore values has halted enough for those with cash to spend to now be able to do so without fear of their new asset being worth a lot less just a few weeks later. The recycling market in the sub continent has taken a big hit due to the recent Bangladesh and Pakistan budgets which both increased taxes on the breakers. In Bangladesh a 5% duty on revenue and a further 15% VAT means the breakers there will be paying a huge increase of about US$ 54 per LT in total taxes. The Pakistan budget was actually announced a week before that of Bangladesh but so far the breakers in Gadani are not sure exactly what is the extra cost to them but they fear it is similar to Bangladesh. That combined with Ramadan being observed and overall a lower volume of dry vessels in general being offered for scrap as the freight rates have been rising, means that Demolition ship buying continues only at a very slow ebb and with India probably currently the most stable area to head for. 1
NILIMAR Ships Sale & Purchase IRENE SL 319,247 10/2004 DS COMMANDER 311,168 07/1999 GENER8 HORN 159,475 06/1999 HULL S852 159,000 03/2017 HULL S853 159,000 05/2017 SECOND-HAND SALES TANKERS HYUNDAI SAMHO, HYUNDAI HEAVY ULSAN, DAEWOO SHIP/MARINE, HYUNDAI SAMHO, HYUNDAI SAMHO, DH DH 30.00M DH 16.50M SOUTH N (SINOKOR) HONG KONG BASED (WINSON OIL) DH 10.00M UNDISCLOSED DH 57.50M GREEK DH 57.50M POLIEGOS 158,000 01/2017 SUNGDONG, DH 54.00M BRASIL VOYAGER 154,000 05/2013 FRONT BRABANT 153,152 01/1998 NISSOS SANTORINI 115,724 03/2012 RUBY EXPRESS 106,516 09/2004 SILVER POINT 51,063 04/2011 MARTIN 35,808 06/1993 MAERSK RAPIER 34,985 01/2000 SAMSUNG HEAVY, HYUNDAI HEAVY ULSAN, SAMSUNG HEAVY, TSUNEISHI SHIP TADOTSU, STX OFFSHORE JINHAE, ISHIKAWAJIMA TOKYO, GUANGZHOU INTERNATIONAL, DH 90.00M NORWEGIAN (OCEAN YIELD) NORWEGIAN (KNUTSEN NYK OFFSHORE) DH 9.00M UNDISCLOSED DH 30.00M UNDISCLOSED DH 12.30M UNDISCLOSED DH 24.00M NAVIG8 SAIPH 25,000 01/2017 KITANIHON, DH 33.40M NAVIG8 SCEPTRUM 25,000 05/2017 KITANIHON, DH 33.40M DONG-A RIGEL 8,831 03/2003 PEGAS 1,252 12/1993 MURAKAMI HIDE, WATANABE NAGASAKI, DANISH (NORDEN) DH 3.60M MIDDLE EASTERN DH 6.50M UNDISCLOSED CHINESE ( MERCHANTS BANK) INCL 14YRS TC BACK TO SELLERS (FINANCIAL DEAL) SHUTTLE TANKER INCL 7YRS BBB WITH PO DH 8.00M ASIAN STST DH 0.90M CASPIAN BASED GAMMAGAS 4,447 08/1992 SECOND-HAND GAS DUNSTON HESSLE, GREAT BRITAIN CBM 4,311 0.90M TURKISH (ARGAZ) LADY ELENA 4,288 07/1998 TACHIBANA, 3,454 3.50M SOUTH N ANETTE KOSAN 3,844 07/2001 SHITANOE SHIPBUILDING, 3,446 5.00M INDONESIAN SS DUE 08/2017 2
TYPE DESTINATION COMBO SKS TUGELA 109,891 1997 18,400 328 INDIA GREEN RECYCLING TANK MED STAR 96,214 1995 14,669 336 INDIA TANK NO 8 KOKAMARU 2,999 1994 1,589 215 TYPE SIZE DELY TANK 158,000 2018-2019 HYUNDAI HEAVY 55.00M TANK 110,000 2018-2019 NEW TIMES 41.00M TANK 46,000 2018-2019 HYUNDAI HEAVY 32.00M UNITS OPT. BANK OF COMMUNICATIONS 8 4 BANK OF COMMUNICATIONS 8 BANK OF COMMUNICATIONS 6 6 ASPHALT 7,500 2018-2019 FUJIAN MAWEI XIN YUAN GROUP 1 1 LNG 7,500CBM 2019 KEPPEL NANTONG 37.00M STOLT NIELSEN GAS 2 3 INDEX THIS WEEK LAST WEEK LAST LY LOW LY HIGH LY AVERAGE BDTI 702 742 730 496 1027 741 BCTI 539 554 473 352 806 519 3
SECOND-HAND BULKERS GEAR TRF CHARLESTON 208,000 02/2017 JIANGSU, - 46.20M SOUTH N (POLARIS) TEN JO MARU 98,681 12/2011 TSUNEISHI ZHOUSHAN, TAIWANESE - 19.00M (U-MING) OCEAN PHOENIX I 82,471 11/2007 TSUNEISHI FUKUYAMA, - 13.50M UNDISCLOSED CORAL GARNET 75,674 04/2007 SANOYAS HISHINO MIZ MA, GLESS 13.00M UNDISCLOSED MAROULIO S 72,270 09/1999 IMABARI MARUGAME, GLESS 6.30M CHINESE FU XING 7 61,751 05/1984 KOYO MIHARA, CR 6X15T 3.30M CHINESE PRIVGULF 58,000 02/2013 ZHEJIANG FENGHUA, CR 4X35T - UNDISCLOSED PRIVAEGEAN 56,582 05/2011 HANTONG SHIP HEAVY, CR 4X36T 10.00M BW INDIGO 56,121 04/2011 MITSUI CHIBA ICHIHARA, CR 4X30T 15.10M UNDISCLOSED WOODSTAR 53,389 10/2008 YANGZHOU DAYANG, CR 4X35T 8.20M GREEK HIGH DUE TO TUO ZHAN 6 43,665 01/1990 TSUNEISHI SHIP 'S CR 4X30T 5.40M CHINESE NUMAKUMA, SCRAPPING SUBSIDY PROGRAM VOGE MIA 36,866 05/2011 CR 4X30T 21.90M UNDISCLOSED VOGE EMMA 36,839 04/2011 CR 4X30T JIA TAI 35,112 12/2011 ZHEJIANG YUEQING CHANGHONG, CR 4X30T 6.80M CHINESE PIONEER SPIRIT 33,261 09/2009 PIONEER SKIPPER 33,261 09/2010 VALENTE ANGEL 28,534 11/2007 SUNRISE MIYAJIMA 19,127 06/2007 ORIENT SHIP BUSAN, ORIENT SHIP BUSAN, SHIMANAMI ZOSEN KK, YAMANISHI CORP, CR 4X30T 8.20M GREEK (SAMIOS SHIPPING) CR 4X30T 8.80M BANK DEAL CR 4X30T 6.90M UNDISCLOSED CR 3X30T 6.20M TURKISH SECOND-HAND TWEEN / MPP / GENERAL CARGO GEAR HHL VOLGA 12,740 12/2007 JIANGZHOU, CR 2X150T 4.50M OS DREAM 10,762 04/1997 WATANABE HAKATA, CR 2X30T DR 1X30T 1.60M CHINESE SID 4
TYPE DESTINATION BULK ORE SOSSEGO 260,360 1991 44,969 338 INDIA GREEN RECYCLING BULK RADIANCE 42,529 1994 9,016 332 INDIA BULK ANTWERPEN 41,100 1979 11,180 355 INDIA TWEEN PAPUAN COAST 3,249 1996 1,741 341 BANGLADESH TYPE SIZE DELY UNITS OPT. BULK 400,000 2020 MARINE UNITED - NS UNITED 1 BULK 325,000 2019 HYUNDAI HEAVY - POLARIS SHIPPING 3 BULK 108,000 2019 SHANGHAI SHIP 32.00M PLATANO EESTI 2 1 BULK 63,000 2020 IMABARI - BELSHIPS 1 INDEX THIS WEEK LAST WEEK LAST LY LOW LY HIGH LY AVERAGE BDI 849 830 610 587 1297 904 BCI 1438 1374 1006 687 2752 1526 BPI 813 792 543 543 1611 954 BSI 654 674 557 555 966 750 BHSI 425 446 327 311 600 450 5
NILIMAR Ships Sale & Purchase SCT QATAR 63,381 04/2010 SCT OMAN 63,271 02/2010 DOUKATO 51,059 02/2002 TAROKO 43,093 06/2003 TASANEE 39,418 07/2002 CARPATHIA 39,443 11/2003 CORDELIA 39,422 08/2003 CARDONIA 39,383 09/2003 CIMBRIA 39,358 10/2002 SECOND-HAND CONTAINER GEAR TEU DAEWOO- MANGALIA, RUMANIA DAEWOO- MANGALIA, RUMANIA SAMSUNG HEAVY, KOYO MIHARA, GLESS 4,892 9.60M GLESS 4,892 9.60M SOUTH N (SM LINE) CR 2X45T 3,739 6.15M UNDISCLOSED GLESS 2,762 12.20M SWISS GLESS 2,824 GLESS 2,824 6.40M GLESS 2,824 6.10M GLESS 2,824 6.40M GLESS 2,824 6.40M AROSIA 38,600 03/2006 GDYNIA, POLAND CR 3X45T 2,711 10.20M STADT DRESDEN 37,937 12/2006 CAPE MELVILLE 37,883 06/2005 CONTI ELEKTRA 30,607 08/2007 AKER MTW, Y AKER MTW, Y AKER MTW, Y GLESS 2,742 7.80M GLESS 2,741 7.80M CR 3X45T 2,127 5.80M SARA 12,814 01/2006 DAESUN, GLESS 1,043 8.20M BRAZILIAN (LOG-IN LOGISTICA) CHINESE (SITC) TYPE DESTINATION CONT HC JADE 5,111 1997 2,553 323 INDIA TYPE SIZE DELY - NO SALES REPORTED THIS WEEK - UNITS OPT. 6
SECOND-HAND REEF REEF. GEAR CAP/TY - NO SALES REPORTED THIS WEEK - OCEAN OUTBACK 7,907 09/2010 SECOND-HAND PCC/ RORO / PASS NANINDAH MUTIARA, INDONESIA CARS/ LM PAX - - 26.00M ISRAELI (DABBAH SLAUGHTERH OUSE) LIVESTOCK CARRIER TYPE DESTINATION RORO QUEEN ACE 18,777 1988 13,913 363 BANGLADESH CAR CARRIER TYPE SIZE DELY UNITS OPT. RORO 5,400LM 2018 HYUNDAI MIPO 59.50M CLDN RORO SA 2 4 RORO 14,000GT JAN 2019 MITSUBISHI HEAVY - TAIHEIYO FERRY 1 7