MONTHLY REPORT Baltic Dry Index · tomini victory 57000 2012 china 4x35 10.8 mio undisclosed sinar kutai 57334 2011 korea 4x30 11 mio chinese nantong k 58738 2011 china 4x30.5 14

ATHENIAN SHIPBROKERS S.A. 107107107107----109, Vas. 109, Vas. 109, Vas. 109, Vas. Pavlou Str., GR 166 73, Voula , Athens, GreecePavlou Str., GR 166 73, Voula , Athens, GreecePavlou Str., GR 166 73, Voula , Athens, GreecePavlou Str., GR 166 73, Voula , Athens, Greece

Tel: 210 9659700 Tel: 210 9659700 Tel: 210 9659700 Tel: 210 9659700 ---- Fax: 210 8996040 Fax: 210 8996040 Fax: 210 8996040 Fax: 210 8996040 Internet Mail: Internet Mail: Internet Mail: Internet Mail: athenianathenianathenianathenian(at)atheniansa(dot)(at)atheniansa(dot)(at)atheniansa(dot)(at)atheniansa(dot)grgrgrgr

www.atheniansa.grwww.atheniansa.grwww.atheniansa.grwww.atheniansa.gr

July 2019

M O N T H L Y R E P O R T

♦Prior 2017 76-78k dwt

0

200

400

600

800

1000

1200

1400

1600

1800

2000

Jul-

14

Se

p-1

4

No

v-1

4

Jan

-15

Ma

r-1

5

Ma

y-1

5

Jul-

15

Se

p-1

5

No

v-1

5

Jan

-16

Ma

r-1

6

Ma

y-1

6

Jul-

16

Se

p-1

6

No

v-1

6

Jan

-17

Ma

r-1

7

Ma

y-1

7

Jul-

17

Se

p-1

7

No

v-1

7

Jan

-18

Ma

r-1

8

Ma

y-1

8

Jul-

18

Se

p-1

8

No

v-1

8

Jan

-19

Ma

r-1

9

Ma

y-1

9

Jul-

19

Baltic Dry Index

PRICES TANKERS ($ MIO)

* Prices reflect Year’s End 2013 2014 2015 2016 2017 2018 Jul-19

VLCC 5Y 55.8 77.1 80 60 64 63 71.5

VLCC 10Y 35.0 52.1 55 40 41 40 48

SUEZMAX 5Y 39.5 56.8 60 40 43 42 50.5

AFRAMAX 5Y 27.8 41.9 46 29 32 32 38.3

AFRAMAX10Y 16.3 26.8 31 18 22 22 25.4

PANAMAX5Y 24.3 33.4 35 28 28 28 32

47K 5Y 23.3 23.8 28.9 22 25 25 25

45K 10Y 15.7 15.2 19.6 15.5 17.5 17.5 17

45K 20Y 6.2 6.5 8.5 5.1 5.5 5 7.25

PRICES BULKERS ($ MIO)

* Prices reflect Year’s End 2013 2014 2015 2016 2017 2018 Jul-19

CAPESIZE 5Y 43.9 39.5 25 24 33 33 38

CAPESIZE 10Y 31.0 27.8 13.6 15 20.5 23.5 24

CAPESIZE 15Y 18.2 16.3 8.5 8 13 14 14.3

CAPESIZE 20Y 10.1 9.0 6.6 6.4 8.3 9.5 7

KAMSARMAX 5Y 25.6 20.1 14 14 22.5 23.5 24

PANAMAX 10Y 17.9 14.6 8.5 8.5 14.5 14.5 14.3

PANAMAX 15Y 12.0 10.0 5 5.4 11 11 9.5

PANAMAX 20Y 7.5 5.4 3.6 3.6 6.5 6.5 6.5

SUPRAMAX 5Y 24.3 20.8 13.6 14 17.5 17.5 17.4

SUPRAMAX 10Y 17.4 13.8 8 9.5 13.5 14 14

HANDYMAX15Y 10.9 9.1 4.5 5.8 9.5 10.5 10.5

HANDYMAX20Y 6.4 6.2 3.5 2.8 6.5 6.5 6.4

www.atheniansa.gr ATHENIAN SHIPBROKERS S.A.

2

S E C O N D H A N D S A L E S & C H A R T E R F I X T U R E T R E N D S

0

10

20

30

40

50

60

70

80

90

Pri

ce (

US

D M

io)

Monthly Tanker Price Trend

VLCC 5Y VLCC 10Y SMAX 5Y AMAX 5Y

AMAX 10Y PMAX 5Y 47K 5Y 45K 10Y

0

10000

20000

30000

40000

50000

60000

70000

(US

D)

Monthly 1 Yr TC Rates

VLCC 1 Yr T/C SMAX 1 Yr T/C AMAX 1 Yr T/C

PMAX 1 Yr T/C MR 1 Yr T/C

0

10

20

30

40

50

60

Pri

ces

(US

D M

io)

Monthly Bulk Carrier Price Trend

CAPE 5Y CAPE 10Y CAPE 15Y

KMAX 5Y PMAX 10Y PMAX 15Y

SUPRA 5Y SUPRA 10Y HMAX 15Y

0

5000

10000

15000

20000

25000

30000

35000

(US

D)

Monthly 1 Yr TC Rates

CAPE 1 Yr T/C PMAX 1 Yr T/C

SUPRA 1 Yr T/C HMAX 1 Yr T/C


3

S E C O N D H A N D T O N N A G E M A R K E T

*Excluding demolition sales

Sale and Purchase Market

Ship Type Feb-19 Mar-19 Apr- 19 May- 19 Jun- 19 Jul-19 Total

BULK 22 53 53 52 40 64 284

TANK 16 45 43 44 41 32 221

GAS 0 4 1 5 1 4 15

CONT 2 5 13 13 13 11 57

TWEEN/MPP 0 0 1 3 3 1 8

REEF 0 0 0 0 0 0 0

RORO 0 0 2 3 0 0 5

FERRY 0 0 0 0 0 0 0

CRUISE 0 0 0 0 0 0 0

Total 40 107 113 120 98 112 589

304

64

297

40

0

100

200

300

400

THIS MONTH

S&P Activity Dry(>5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FOR SALE

TOTAL SOLD

173

32

252

41

0

100

200

300

THIS MONTH

S&P Activity Tankers(>5,000 Dwt)

TOTAL FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALE


4

TANKER SALES

NAME DWT BLT PRICE $ BUYER

SU-B 1845 2009 TURKEY DH 3.4 MIO GREEK (epoxy)

COASTAL MERCURY 2281 2012 CHINA DH 2.4 MIO UNDISCLOSED (epoxy)

PENYUAN 7543 2009 CHINA DH 3.5 MIO UNDISCLOSED (phen epoxy)

BOW TONE 33624 2009 JAPAN DH 18 MIO NORWEGIAN

EVA HERON 33707 2008 JAPAN DH 18 MIO UNDISCLOSED

MAERSK RALEIGH 35192 2005 CHINA DH 11.2 MIO UK (5 yr tcb)

KRISJANIS VALDEMARS 37266 2007 KOREA DH 11.25 MIO UNDISCLOSED

GLOBAL SPIRIT 45303 1999 JAPAN DH 7.25 MIO CHINESE (zinc)

EAGLE EXPRESS 45902 2010 JAPAN DH 16.5 MIO UNION MARITIME

BIENDONG MELODY 45937 2004 JAPAN DH 8 MIO UNDISCLOSED

TORM SAN JACINTO 47038 2002 JAPAN DH 8.25 MIO MIDDLE EASTERN

THEONI 47198 1997 JAPAN DH 5.5 MIO UAE (epoxy)

NEW BREEZE 48064 2010 JAPAN DH 16 MIO DANISH (epoxy)

FPMC 23 50999 2010 KOREA DH 15 MIO GREEK (zinc)

LOENGO 73626 2007 CHINA DH 10.5 MIO DANISH

NEW CONFIDENCE 73897 2005 CHINA DH * ENBLOC BSS▼

NEW CENTURY 73901 2005 CHINA DH * ENBLOC BSS▼

NEW CHAMPION 73911 2005 CHINA DH * ENBLOC BSS▼

NEW CHALLENGE 73964 2005 CHINA DH 35.8 MIO GERMAN (ttl enbloc)

NECTAR 105317 2005 JAPAN DH 15.9 MIO GREEK

OLYMPIA I 107181 1999 JAPAN DH 7.9 MIO MIDDLE EASTERN

SEAHERITAGE 109229 2005 CHINA DH 14.5 MIO EUROPEAN

DAEHAN 5037 113700 2020 KOREA DH 50 MIO ENBLOC BSS▼

DAEHAN 5038 113700 2020 KOREA DH 50 MIO MONACO (Price each)

PYTHEAS 114809 2004 KOREA DH 14.85 MIO UNDISCLOSED

CAPE BONNY 159152 2005 KOREA DH * ENBLOC BSS▼

482

573 632551

522

350

450

550

650

750

850

950

30 33 36 39 42 45 48 51 2 5 8 11 14 17 20 23 26 29

WEEK NO

Baltic Clean Tanker - Yearly

20192018

969805

709635

450

650

850

1050

1250

1450

30 33 36 39 42 45 48 51 2 5 8 11 14 17 20 23 26 29

WEEK NO

Baltic Dirty Tanker - Yearly

20192018

545 525

491 469

450

470

490

510

530

550

570

01/07/2019 08/07/2019 15/07/2019 22/07/2019

Baltic Clean Tanker - Monthly

673

650631

624

600

620

640

660

680

700

01/07/2019 08/07/2019 15/07/2019 22/07/2019

Baltic Dirty Tanker - Monthly


5

CAPE BASTIA 159155 2005 KOREA DH * ENBLOC BSS▼

CAPE BARRI 159186 2005 KOREA DH * ENBLOC BSS▼

CAPE BRINDISI 159195 2005 KOREA DH 82 MIO USA (ttl enbloc)

PHOENIX VANGUARD 306506 2007 KOREA DH 38.75 MIO GREEK (Tar-free epoxy)

APOLLONIA 309021 2003 KOREA DH 31 MIO MALAYSIAN (epoxy)

RIDGEBURY EAGLE 309064 2002 KOREA DH 29 MIO MALAYSIAN

GAS SALES

NAME DWT BLT CBM PRICE $ BUYER

MATHRAKI 19621 2003 JAPAN 22482 16 MIO INDONESIAN

SABARIMALA GAS 30761 1994 JAPAN 34058 7.8 MIO UNDISCLOSED

PALANIMALA GAS 49301 1992 JAPAN 73869 11.8 MIO SINGAPOREAN

KAILASH GAS 64220 1992 BELGIUM 84109 12.8 MIO SINGAPOREAN

11300

16000

107500

10000

20000

30000

40000

50000

60000

Jul-18 Sep-18 Nov-18 Jan-19 Mar-19 May-19 Jul-19

$/D

ay

Spot Market - TankersVLCC

SUEZMAX

AFRAMAX

34000

24500

21500

10000

15000

20000

25000

30000

35000

40000


$/D

ay

Period Market - Tankers 1 Year T/C

VLCC

SUEZMAX

AFRAMAX


6

BULKER SALES

NAME DWT BLT GEAR PRICE $ BUYER

PACIFIC VENUS 18712 2001 JAPAN 3X36 4.5 MIO UNDISCLOSED

RAULI N 27348 1996 CHINA 4X30 3.5 MIO MIDDLE EASTERN

KING CANOLA 28207 2013 JAPAN 4X30.5 8.4 MIO GREEK

GENCO CHALLENGER 28428 2003 JAPAN 4X30.5 5 MIO VIETNAMESE

ALLSTARS 28520 2000 JAPAN 4X30.5 4.5 MIO CHINESE

JUDI ALAMAR 28760 1995 JAPAN 4X30 3.4 MIO MIDDLE EASTERN

IKAN JERUNG 31760 2009 JAPAN 4X30 9 MIO HONG KONG BASED

ISLAND SPIRIT 31864 2013 JAPAN 4X30 11.25 MIO GREEK

LOUSIE BULKER 31881 2010 JAPAN 4X30 9.5 MIO ENBLOC BSS▼

EMMA BULKER 31887 2010 JAPAN 4X30 9.5 MIO CHINESE (price each)

CRANE ISLAND 32154 2009 JAPAN 4X30.5 8.8 MIO GREEK

AURORA BULKER 32723 2004 JAPAN 4X30.5 6.8 MIO UNDISCLOSED

IVS KNOT 33143 2010 JAPAN 4X30.5 13 MIO JAPANESE

GEA 33562 2005 JAPAN 4X30 6.85 MIO DANISH

DAIWAN ACE 34358 2014 JAPAN 4X30 15.3 MIO GREEK

GRAIG CARDIFF 34827 2012 CHINA 4X30 9 MIO ENBLOC BSS▼

GRAIG ROTTERDAM 34898 2012 CHINA 4X30 9 MIO GERMAN (price each)

SAGITTARIUS OCEAN 37052 2014 JAPAN 4X30 15.3 MIO GREEK (BWTS Fitted)

GLARUS 46513 2001 JAPAN 4X30 6.2 MIO CHINESE

KONSTANTINOS D 50326 2000 JAPAN 4X30.5 5.5 MIO CHINESE

KESTREL I 50351 2004 JAPAN 4X30 7.3 MIO UNDISCLOSED

BRIGHT HERO 51725 2009 JAPAN 4X30 9.5 MIO GREEK

TAI HAPPINESS 52686 2004 JAPAN 4X30 7.5 MIO UNDISCLOSED

STAR GAMMA 53098 2002 JAPAN 4X30 7 MIO RUSSIAN

NAVIOS PRIMAVERA 53464 2007 JAPAN 4X30.5 10.4 MIO UNDISCLOSED

442454

472506

350

400

450

500

550

27/06/2019 04/07/2019 11/07/2019 18/07/2019 25/07/2019

Baltic Handysize

792860

9821019

670

770

870

970

1070

27/06/2019 04/07/2019 11/07/2019 18/07/2019 25/07/2019

Baltic Supramax

1317

1569

1791

2209

1050

1250

1450

1650

1850

2050

2250

2450

27/06/2019 04/07/2019 11/07/2019 18/07/2019 25/07/2019

Baltic Panamax

2488

3346

3968

3808

2000

2500

3000

3500

4000

4500

5000

27/06/2019 04/07/2019 11/07/2019 18/07/2019 25/07/2019

Baltic Capesize


7

NAVIOS ARC 53514 2003 JAPAN 4X30.5 7.2 MIO CHINESE

PETERBOROUGH 55783 2009 VIETNAM 4X30 * ENBLOC BSS▼

SHEFFIELD 55783 2010 VIETNAM 4X30 21 MIO GREEK (Ttl price)

TOMINI INFINITY 56720 2010 CHINA 4X30 10.1 MIO ENBLOC BSS▼

TOMINI SINCERITY 56812 2012 CHINA 4X35 10.8 MIO CHINESE (price each)

HAMMONIA KORSIKA 56722 2010 CHINA 4X35 10.5 MIO UNDISCLOSED

HERMANN S 56732 2009 CHINA 4X35 9 MIO CHINESE

BLUE CAT 56956 2009 CHINA 4X30 9 MIO GREEK (auction)

TOMINI VICTORY 57000 2012 CHINA 4X35 10.8 MIO UNDISCLOSED

SINAR KUTAI 57334 2011 KOREA 4X30 11 MIO CHINESE

NANTONG K 58738 2011 CHINA 4X30.5 14 MIO CHINESE

OCEAN JORF 61269 2016 JAPAN 4X30.7 24 MIO UNDISCLOSED

STAR ANNA 63038 2015 CHINA 4X30 17.75 MIO GREEK

GH ROUGH HABIT 63301 2012 CHINA 4X35 16.6 MIO NORWEGIAN

NIREFS 75311 2001 KOREA GLESS 6.7 MIO UNDISCLOSED

OGNA 75754 2008 CHINA GLESS 10.3 MIO GREEK

CHANCE 75926 2004 JAPAN GLESS 9.5 MIO UNDISCLOSED

CRYSTAL WIND 76523 2009 JAPAN GLESS 13.1 MIO GREEK

ETERNAL GRACE 76585 2006 JAPAN GLESS 9.6 MIO CHINESE

ES SAKURA 76596 2007 JAPAN GLESS 11.5 MIO UNDISCLOSED

FEDERICA PRIMA 76596 2005 JAPAN GLESS 8.5 MIO CHINESE

KAVO MANALI 76801 2004 JAPAN GLESS 8.5 MIO GREEK

ZHEN BANG 79343 2015 CHINA GLESS * ENBLOC BSS▼

FH RI ZHAO 79489 2015 CHINA GLESS * ENBLOC BSS▼

FH FANG CHENG 81458 2015 CHINA GLESS 45 MIO BANGLADESHI (ttl price)

RED LOTUS 83007 2006 JAPAN GLESS 12.3 MIO GREEK (BWTS fitted)

NORD DESTINY 83684 2008 JAPAN GLESS 14.5 MIO UNDISCLOSED

OCEAN TOPAZ 92859 2013 CHINA GLESS 15 MIO CHINESE

SUNNY SMILE 95768 2013 JAPAN GLESS 21.5 MIO UNDISCLOSED

PHILIPP OLDENDORFF 115156 2012 CHINA GLESS 15.5 MIO GERMAN

EVELYN SCHULTE 115340 2012 CHINA GLESS 15.5 MIO GERMAN

CAPE MARIA 170012 2005 KOREA GLESS 13.8 MIO GREEK

MINERAL NOBLE 170649 2004 KOREA GLESS 13.5 MIO UNDISCLOSED

MSXT VIVIENNE 175085 2004 CHINA GLESS 12.5 MIO UNDISCLOSED

SHINYO DILIGENCE 176955 2006 JAPAN GLESS 16.5 MIO HONG KONG BASED

LOWLANDS PHOENIX 177036 2004 JAPAN GLESS 13.2 MIO CHINESE

EURO FORTUNE 177477 2005 JAPAN GLESS 14.7 MIO GREEK

NORD STEEL 180230 2007 JAPAN GLESS 17.75 MIO CHINESE

GLOBAL MERCATOR 182205 2011 JAPAN GLESS 26.2 MIO GREEK


8

CONTAINER SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

KOTA TEGAP 10728 2002 KOREA 2X40 720 3.25 MIO KOREAN

VORONEZH 23063 2008 POLAND 3X40 1728 8 MIO USA

HANSA LUDWIGSBURG 23305 2011 CHINA 2X40 1740 13.8 MIO CHINESE

HANSA MARBURG 23419 2007 CHINA 2X40 1740 5.8 MIO GERMAN

STRAUSS 33900 2005 GERMANY 3X45 2478 8.2 MIO GREEK

TIM-S 44135 2005 KOREA GLESS 3398 6.55 MIO NORWEGIAN

NILEDUTCH RHINO 46956 2012 CHINA 4X45 3635 8.6 MIO GERMAN

KMARIN AQUA 66347 2013 KOREA GLESS 4622 19 MIO UNDISCLOSED

MSC SAVANNAH 102518 2011 KOREA GLESS 8586 * ENBLOC BSS▼

SM NEW YORK 102518 2010 KOREA GLESS 8586 * ENBLOC BSS▼

SM SAVANNAH 102518 2011 KOREA GLESS 8686 100 MIO FAR EASTERN (Ttl price)

24000

15750

8000

0

5000

10000

15000

20000

25000

30000


$/D

ay

Spot Market - BulkersCAPESIZE

PANAMAX

HANDYMAX

21500

14000

11750

8100

10100

12100

14100

16100

18100

20100

22100

24100


$/D

ay

Period Market - Bulkers 1 Year T/CCAPESIZE

PANAMAX

SUPRAMAX


9

TWEEN SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

OCEAN SWAGMAN 7850 2009 INDONESIA GLESS 22 MIO AUSTRALIAN

Ro-Ro SALES

NAME GT BLT Lane Mts/Cars/Pax PRICE $ BUYER

N/A


10

N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C T S

Dry Bulk Orderbook

Ship Type 2019 2020 2021+ Total

Capesize 64 109 50 223

Kamsarmax 82 145 55 282

Supra/Hmax 93 128 38 259

Handies 60 75 11 146

Total 299 457 154 910

Tanker Orderbook


ULCC/VLCC 26 39 12 77

Suezmax 12 30 8 50

Aframax 24 21 28 73

Panamax 7 16 8 31

MR + Small 99 133 21 253

Total 168 239 77 484

LPG Orderbook


VLGC 8 25 7 40

LGC 0 0 0 0

MR 4 3 0 7

Handy 4 8 0 12

Small 3 7 2 12

Total 19 43 9 71

92.7

61.8

49

36.6

20

40

60

80

100

Jul-17 Nov-17 Mar-18 Jul-18 Nov-18 Mar-19 Jul-19

$m

Tanker Prices VLCC Suezmax

Aframax MR

51.2

28

26.3

24.1

10

15

20

25

30

35

40

45

50

55

Jul-17 Nov-17 Mar-18 Jul-18 Nov-18 Mar-19 Jul-19

$m

Bulker Prices Capesize Kamsarmax

Supramax Handysize


11

250

201

95

248

277

115104

192

52

0

100

200

300

2017 2018 Jul-19

No

. o

f V

ess

els

Newbuilding SalesTankersBulkersContainerships

29

48

19.216.2

27

11

0

10

20

30

40

50

60

Jul-19 2020 2021+

m. d

wt

Delivery Schedule Bulkers

Tankers

25.1

8.1 8.3

2.3

9.7

0

5

10

15

20

25

30

July 2019

m. d

wt

Tanker Newbuildings on OrderVLCC Suezmax

Aframax Panamax

Products

50.3

24

17

5

0

10

20

30

40

50

60

July 2019

m. d

wt

Bulker Newbuildings on OrderCapesizeKamsarmaxSupramaxHandysize

Newbuilding Historical Prices ($m)

Tankers Jul-19 2018 2017 2016 2015 2014 2013 2012 2010 2005 2000 1995 1990 1985

320,000

DWT1

92.7 92.4 81.5 84.5 93.7 97.3 93.8 93.2 104.8 120 76.5 85.3 87.4 2 38.2

170,000

DWT1

61.8 60.6 55 54.5 63 65.5 59.6 57.1 66.3 71.5 52.5 54 66.1 2 28.2

115,000

DWT1

49 48.1 44 44.5 52 53.6 52.2 48.5 56 58 41.5 43.3 53.2 2 18.1

50,000 DWT1 36.6 36.7 33.8 32.5 35.4 36.8 34.6 33.8 36.1 43 29.5 33.2

3 32.1

3 13.3

Bulkers

185,000

DWT1

51.2 50.4 44 42 46 54.2 53.6 45.7 57.2 58.5 40.5 42.3 60.2 29.3

83,000

DWT1 ♦

28 28.1 25.5 24.5 25.7 29 27.8 25.6 34.3 36 22.5 27.9 30 13.4

64,000 DWT♦ 26.3 26.2 24 22.3 24.1 27.2 26.5 23.7 31.1 31 20.5 24.1 25.3 12.4

35,000 DWT♦ 24.1 23.9 22 19.5 20.3 22.8 22.2 20.5 26.3 25.5 15 19.2 21.3 9.7

1 Before 2001 sizes to read 280,000 - 140,000 - 95,000 - 40,000 respectively for tankers and 150,000 - 69,000 for Bulkers

2 Single Hull

3 30,000 DWT ♦Prior 2017 to read 73 – 76k dwt, 45k dwt & 30k dwt

(note: above is for vessels built Japan / Korea, you should also consider US$ / Yen / Won relation for the years mentioned)


12

The Shipbuilding Market

TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES Bulk 42000 Tsuneishi Cebu 2021 Nissen Kaiun Bulk 42000 Tsuneishi Cebu 2022 Nissen Kaiun Bulk 42000 Tsuneishi Cebu 2022 Nissen Kaiun Bulk 180000 Hyundai Samho HI 2021 H-Line Shipping Bulk 180000 Hyundai Samho HI 2021 H-Line Shipping Bulk 211000 JMU Ariake Shipyard 2021 Nippon Yusen Kaisha

Chem & Oil 33000 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 33000 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 33000 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 33000 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 19900 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 19900 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 19900 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 19900 Nantong Xiangyu 2022 Nisshin Shipping Chem & Oil 50000 Hyundai Mipo 2020 38 mio Unknown Chem & Oil 50000 Hyundai Mipo 2020 38 mio Unknown Chem & Oil 50000 Hyundai Mipo 2021 Yasa Shipping Chem & Oil 50000 Hyundai Mipo 2021 Yasa Shipping Chem & Oil 11960 AVIC Dingheng SB 2021 Yonghua Shipping

MPP 4800 Royal Bodewes SY 2021 Scotline Group Products 50000 Beihai Shipyard 2021 CSIC Leasing HK Products 50000 Beihai Shipyard 2021 CSIC Leasing HK Products 50000 Beihai Shipyard 2022 CSIC Leasing HK Option Products 50000 Beihai Shipyard 2022 CSIC Leasing HK Option Ro-Ro 25000 Hyundai Mipo 2021 69.2 mio Unknown Ro-Ro 25000 Hyundai Mipo 2022 69.2 mio Unknown Tanker 113000 Hyundai HI (Ulsan) 2021 Neste Shipping Tanker 113000 Hyundai HI (Ulsan) 2021 Neste Shipping Tanker 307000 Dalian Shipbuilding 2021 CSIC Leasing HK Tanker 307000 Dalian Shipbuilding 2021 CSIC Leasing HK Tanker 307000 Dalian Shipbuilding 2021 CSIC Leasing HK Option Tanker 307000 Dalian Shipbuilding 2021 CSIC Leasing HK Option Tanker 157000 Samsung HI 2021 62.2 mio Enesel SA Tanker 157000 Samsung HI 2021 62.2 mio Enesel SA Tanker 113000 COSCO HI (Zhoushan) 2021 Union Maritime Ltd Tanker 113000 COSCO HI (Zhoushan) 2021 Union Maritime Ltd Tanker 113000 COSCO HI (Zhoushan) 2022 Union Maritime Ltd Option Tanker 113000 COSCO HI (Zhoushan) 2022 Union Maritime Ltd Option

TSH Dredger Keppel FELS 2022 Van Oord


13

D E M O L I T I O N M A R K E T

* M O N T H ’ S E N D P R I C E S

Demolition Historical Data

430 435 445 450 440 425 395

180

230

280

330

380

430

480

530

580

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

US

D/t

on

Price Tankers* 2016 2017

2018 2019

*India month's end prices

420 425 435 440 430 415 390

180

230

280

330

380

430

480

530

580

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

US

D/t

on

Price Bulkers*2016 2017

2018 2019

*India month's end prices

Demolition Prices

Gen Cargo Tanker

India USD 390 /lt Ldt USD 395 /lt Ldt

Bangladesh USD 400 /lt Ldt USD 410 /lt Ldt

Pakistan USD 390 /lt Ldt USD 400 /lt Ldt

China USD 150 /lt Ldt USD 160 /lt Ldt


14

HISTORICAL DEMOLITION PRICES (*Indian Year’s End)

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 CURR

TANK 135 174 262 362 302 405 507 287 338 485 482 405 435 425 300 300 440 435 395

BULK 135 181 267 381 332 392 472 268 328 437 456 375 410 400 285 280 425 425 390

25.614.5

4.92.35

4.63.8

15.916.7

18.915.5

1815.6

2530.5

22.428.4

28.527

105.5

6.55

1228.9

25.731.58

50.341.8

34.338.8

44.635.2

30.411.6

0 10 20 30 40 50 60

1986

1989

1992

1995

1998

2001

2004

2007

2010

2013

2016

2019

Million dwt

Yea

rTotal Demolition (Dwt)

* Bss reported sales

0

100

200

300

400

500

600

US

D/t

on

Historical Demolition Prices (India Year's End)

TANKERS

BULKERS

Avg. Trend


15

India

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK ORE MOATIZE 150393 1997 18403 425 Incl 618t Rob

BULK LUKA 20501 1999 5307 328 As Is Piraeus

BULK OMAR B 11702 1983 3581 375

BULK HOJIN 18273 1990 14954 410

CONT JAPAN 67958 1996 24250 390 As Is Colombo, Green Recycling

CONT KMTC HONGKONG 20999 1998 7124 425 Incl 390t Rob

TANK OCEANA 45684 1996 10247 440

Bangladesh


BULK BYUKSANG 3001 4050 1992 1514 316

BULK STAR VIEW 73350 1995 10642 415

BULK ANANGEL ZHONGTE 246732 1989 36300 425 As Is Spore, Incl 690t Rob

China


N/A N/A N/A

Pakistan


N/A N/A N/A

Turkey


N/A N/A N/A

Other


BULK VSEVOLOD BELETSKIY 33324 2010 9450 396 As Is Kolkata

BULK ANANGEL HAILI 260723 1995 33000 430 As Is Singapore

CONT MERATUS AMBON 8122 1992 3334 370 Incl 175t Rob

CONT SM HOCHIMINH 21528 1998 7004 431 ENBLOC BSS▼

CONT SM BANGKOK 21184 1999 7296 431 Price Each

TANK ALIZEA 46801 1995 9044 420

TANK TI HAWTAH 300361 1996 48100 417 As Is Jeddah, Incl 650t Rob


16

H I S T O R I C A L B U N K E R P R I C E S

HISTORICAL BUNKER PRICES

Rotterdam Fujairah Houston

380 cst MGO 380 cst MGO 380 cst MGO

1993 67 150.5 70 202.5 71.1 160.6

1994 86 133.2 80.9 182.6 80.8 148.8

1995 97 140.6 94.6 175.8 93.2 148

1996 107 175.1 104.4 207.5 105.8 186

1997 92 155.4 99.3 205.6 97.3 179.9

1998 66.5 112.2 69.2 152.2 67.2 136.9

1999 94 133 98.5 157.2 93.3 143.9

2000 139 231.6 155.3 263.5 136 255.7

2001 116 192.4 129.7 244.7 112.8 227.5

2002 135 188.2 145.9 222.8 134 196

2003 151 230.4 166.3 265.2 160.2 265.1

2004 154 313.4 176.7 359.3 167.3 328.7

2005 236 458.4 256.6 500.1 248.3 508.5

2006 195 524.1 310.9 631.8 303 562.3

2007 347 571.3 373.7 664.7 351.8 608.6

2008 469 850.7 509.4 1037.7 496.8 933.2

2009 355 490.6 372.8 657 360.7 525

2010 452 667.1 468.2 712.9 449.3 683

2011 548 848.6 587.5 897.5 542.1 862.4

2012 585 920 606 1005 610 1005

2013 585 920 620 1010 580 985

2014 310 570 350 880 315 695

2015 140 311 170 560 140 360

2016 307 472 340 546 310 525

2017 367 579 376 627.5 356 612

2018 315 490 335 732 362 567

30-07-19 373.5 570 423.5 687.5 392 620

0

100

200

300

400

500

600

700

800

US

D/t

on

Bunkers Cost (380 cst)

Rotterdam

Fujairah

Houston

Average Trend

0

200

400

600

800

1000

1200

US

D/t

on

Bunkers Cost (MGO)

Rotterdam

Fujairah

Houston

Average Trend


17

M A R K E T I N D I C A T O R S

GBP CAD EUR JPY CHF USD

AUD

GBP 1 0.624177 0.916174 0.007566 0.829466 0.82192 0.565939

CAD 1.601636 1 1.467574 0.012119 1.328743 1.316629 0.906574

EUR 1.091269 0.681224 1 0.008258 0.905257 0.89704 0.617713

JPY 132.14469 82.49158 121.08398 1 109.61992 108.62542 74.79897

CHF 1.205283 0.752348 1.104453 0.00912 1 0.990697 0.682151

USD 1.216468 0.759413 1.114645 0.009205 1.009201 1 0.688557

AUD 1.766349 1.102692 1.618644 0.013366 1.465391 1.452032 1 * 30/07/2019 values

60

70

80

90

100

110

120

130

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

USD

-JP

Y

USD

-EU

R

CurrenciesUSD-EUR

USD-JPY

0.00

20.00

40.00

60.00

80.00

100.00

120.00

140.00

160.00

$/B

arr

el

Brent Oil


18

S T O C K W A T C H

NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW

Capital Product Partners CPLP 11.20 10.52 6.5 22.12 9.68

Diana Shipping Inc. DSX 3.66 3.18 15.1 4.54 2.41

Dryships Inc. DRYS 3.93 3.68 6.8 7.22 3.08

Dynagas LNG Partners LP DLNG 1.40 1.47 -4.8 9.20 1.34

Eagle Bulk Shipping Inc. EGLE 4.67 4.93 -5.3 5.98 3.85

Euroseas Ltd. ESEA 0.62 0.58 6.9 3.87 0.53

Costamare Inc. CMRE 6.00 5.20 15.4 7.29 4.20

Navios Maritime Holdings NM 6.73 3.50 92.3 8.95 1.69

GasLog Ltd. GLOG 14.04 13.38 4.9 23.14 12.94

Safe Bulkers Inc. SB 2.10 1.46 43.8 3.47 1.28

Star Bulk Carriers Corp. SBLK 10.07 8.56 17.6 15.38 6.16

Stealthgas Inc. GASS 3.87 3.25 19.1 4.18 2.73

TEN Inc. TNP 3.29 3.07 7.2 3.73 2.56

TOP Ships Inc. TOPS 0.40 0.46 -13 2.70 0.36

Performance Shipping Inc. DCIX 0.95 0.94 1.1 2.48 0.56

Danaos Corporation DAC 8.50 8.75 -2.9 24.50 7.60 * 30/07/2019 closing values

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer: Disclaimer: Disclaimer: Disclaimer: Information and data that appear in this report have been obtained from various sources which are believed to be correct and reliable. However, Athenian Shipbrokers S.A. does not guarantee their accuracy or completeness and therefore cannot be held liable for any loss incurred as a result of reliance in any way whatsoever on the information contained herein. Kind Regards,Kind Regards,Kind Regards,Kind Regards,

ATHENIAN SHIPBROKERS S.A.

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