WEEKLY SHIPPING MARKET REPORT WEEK 51 · WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 51 (13th Dec to 20th Dec 2019) Capesize 40.000 Week 51 found iron ore freight rates on the West

WEEKLY SHIPPING MARKET REPORT - pg. 1

Week 51 (13th Dec to 20th Dec 2019)

Bulkers

Greek buyers Alios Bulkers have acquired two Japanese Kamsarmaxes with Eco M/E, Orix’s “Aquila Ocean” 82/2018 Sanoyas, Japan (DD 03/2021) and Sugahara Kisen’s “Atlantic Samurai” 82/2019 Tsuneishi, Japan (DD 04/2022) at an undisclosed price. Seacon have sold their Panamax “Qi Xiang 22” 76/2012 Shanghai, China (DD 04/2020) to Chinese buyers at a price of USD 14,5 mill. Remind you that in September, “Sea Rising” 76/2012 Yangfan, China was sold for USD 14 mill. An Ultramax resale, “Tsuneishi Zhoushan SS-214” 64/2019 Tsuneishi, Japan has been sold to Japanese buyers for USD 28 mill, a common price for an Ultramax resale as “Iwagi 515” 63/2019 Iwagi, Japan was sold last month at the same price. Yamamaru Kisen’s Supramax “Torenia” 56/2007 Mitsui, Japan (DD 06/2020) was sold this week to Far Eastern buyers at a price of USD 11 mill, her four-years-older sister vessel “Maroudio” 56/2003 (DD 12/2019) owned by Niovis was sold to Indonesian buyers at USD 8,9 mill while it is rumored that “Georgios S” 56/2006 Mitsui Tamano, Japan (SS/DD 08/2020), which is also a sister of the above ships, has gone at levels USD excess 10 mill. For comparison, the 2006 built sister vessel “Yasa Ozcan” 56/2006 Mitsui, Japan was sold a couple of weeks ago at levels USD 10,6 mill. Following the sale of “MS Atlantic” 33/2010 Qidong Daoda, China at USD 5,2 mill, “MS Charm” 32/2010 Zhejiang Hongxin, China (SS/DD 07/2020) has been sold to undisclosed buyers at the same levels. Moreover, “San Sebastian” 32/2007 Kanda Kawajiri, Japan (SS/DD 01/2022) of Harworth Shipping was sold to Greek buyers at a price of USD 7,9 mill whilst her one-year-younger sister vessel “Cielo Di Pisa” 32/2008 Kanda Kawajiri, Japan was sold a couple of weeks ago at USD 8 mill.

Tankers

Teekay’s Suezmax “Iskmati Spirit” 165/2003 Hyundai Samho, Korea (DD 11/2020) has been concluded to Greek buyers Chemnav at a price of USD 19,3 mill, just like her sister vessel “Ashkini Spirit” 165/2003 Hyundai Samho, Korea did a couple of weeks ago at same levels probably to the same buyers. Mitsui OSK Lines have sold their LR1 “Grace Victoria” 75/2007 Minami-Nippon, Japan (SS/DD 12/2020) to Greek buyers Velos Tankers for USD 15,2 mill. Remind you that last week, the two-years-younger Korean built “Gulf Castle” 75/2009 Hyundai Mipo, Korea was sold at levels USD 18,5 mill. MR “Freja Baltic” 47/2008 Onomichi, Japan (SS/DD 12/2020) was sold this week to Greek buyers Spring Marine at USD 16 mill. Note that last month, her sister vessel “Nord Organiser” 47/2008 Onomichi, Japan was sold for USD 16,9 mill. In addition, Sinokor have sold their MR “Liberty” 47/2004 Hyundai Mipo, Korea (SS/DD 02/2020) to undisclosed buyers at a price of USD 9,5 mill while Transpetrol have sold their two sister vessels “Reliance II” & “Advance II” 46/2006 Stx, Korea (SS/DD 05/2021 & 06/2021 accordingly) to UK based Union Maritime for a price of USD 13,5 mill each.

Baltic Indices

INDEX 20-Dec 13-Dec ± (%)

BDI 1.123 1.355 -17,12%

BCI 1.958 2.455 -20,24%

BPI 1.201 1.467 -18,13%

BSI 743 823 -9,72%

BHSI 500 509 -1,77%

Daily T/C Avg 20-Dec 13-Dec ± (%)

Capesize $ 14.451 $ 18.002 -19,73%

Kamsarmax $ 10.508 $ 12.745 -17,55%

Panamax $ 9.612 $ 11.749 -18,19%

Supramax $ 8.564 $ 9.430 -9,18%

Handysize 38 $ 8.914 $ 9.106 -2,11%

Handysize 28 $ 7.259 $ 7.390 -1,77%

INDEX 20-Dec 13-Dec ± (%)

BDTI 1.589 1.440 10,35% BCTI 926 892 3,81%

0

1.000

2.000

3.000

4.000

5.000

6.000Bulkers

B.D.I B.C.I B.P.I. B.S.I. B.H.S.I.

0

400

800

1.200

1.600

2.000

Tankers

BDTI BCTI

WEEKLY SHIPPING MARKET REPORT WEEK 51



Capesize

Week 51 found iron ore freight rates on the West Australia / China route at the level of low usd 7,00’s fio. A number of Australian trips into India were reported at around usd 20,000 pd. No period activity to report here.

Kamsarmax / Panamax

North Pacific rounds ranged at the usd 11,000 pd. A number of Indonesian and Australian coal trips into China were reported at around usd 9,000/10,000 pd levels. Inter-Mediterranean trips were fixed around usd 14,500 pd. US Gulf trips into India via Suez with grains were reported at the level of usd 16,000 pd plus ballast bonus at the usd 600K. US Gulf trips into Continent with grains were fixed around usd 12,000/13,000 pd plus ballast bonus at the usd 215K/300K. US Gulf trips into China were fixed around usd 19,500 pd plus ballast bonus at the usd 950K. South American trips into China were reported at around usd 15,000 pd plus ballast bonus at the usd 500K. No period activity to report here.

Ultramax / Supramax

CIS Pacific rounds ranged at the usd 8,000 pd. A number of Indonesian trips into China at the level of usd 9,000 pd without any ballast bonus. East Coast Indian trips into China with iron ore were reported at the level of usd 7,000/8,000 pd. Continental trips into Mediterranean via Baltic with scrap fixed at around usd 11,000 pd.No period activity to report here.

Handymax / Handysize

A generally quiet week for this segment. CIS Pacific rounds ranged at the usd 7,000/8,000 pd. No period activity to report here.

10.000

15.000

20.000

25.000

30.000

35.000

40.000

$/d

ay

Capesize

8.000

10.000

12.000

14.000

16.000

18.000

20.000

$/d

ay

Panamax

8.000

10.000

12.000

14.000

16.000

$/d

ay

Supramax

6.000

7.000

8.000

9.000

10.000

11.000

$/d

ay

Handysize

DRY BULK COMMENTARY



Bulk Carriers

Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments

Mini Cape Grand

Thalia 115.429 2011

Shanghai

Jiangnan,

China

07/2021 Wartsila - $ 15,8m Ukrainian (Profy)

Kamsarmax Aquila

Ocean 82.200 2018

Sanoyas,

Japan 03/2023

MAN-

B&W - Undisclosed

Greek (Alios

Bulkers) Eco M/E

Kamsarmax Atlantic

Samurai 81.600 2019

Tsuneishi,

Japan 04/2024

MAN-

B&W - Undisclosed

Greek (Alios

Bulkers) Eco M/E

Panamax Qi Xiang 22 75.658 2012 Shanghai,

China 05/2022

MAN-

B&W - $ 14,5m Chinese DD 04/2020

Ultramax

Tsuneishi

Zhoushan

SS-214

63.700 2019 Tsuneishi,

Japan

MAN-

B&W 4x36T $ 28m Japanese

Supramax Draco

Ocean 58.605 2013

NACKS,

China 10/2020

MAN-

B&W 4x30,5T $ 14,7m Undisclosed

Supramax Torenia 56.049 2007

Mitsui

Tamano,

Japan

07/2022 MAN-

B&W 4x30T $ 11m Far Eastern DD 06/2020

Supramax Maroudio 56.020 2003

Mitsui

Tamano,

Japan

03/2023 MAN-

B&W 4x30T $ 8,9m Indonesian DD 12/2019

Supramax Georgios S 55.725 2006

Mitsui

Tamano,

Japan

08/2020 MAN-

B&W 4x30T

Excess

$ 10m Undisclosed

Handymax Zhong

Chang 288 40.000 2012

Zhejiang

Qinfeng,

China

05/2022 MAN-

B&W - $ 10,9m Chinese

Handysize Biograd 37.729 2010

Jiangsu

Eastern,

China

04/2020 Wartsila 4x30T $ 7,9m Chinese

Handysize MS Charm 32.449 2010

Zhejiang

Hongxin,

China

07/2020 MAN-

B&W 4x30T $ 5,2m Undisclosed

Handysize San

Sebastian 32.285 2007

Kanda

Kawajiri,

Japan

01/2022 Mitsubishi 4x30,5T $ 7,9m Greek Open Hatch

Handysize Coos Bay 28.214 2012 I-S, Japan 04/2022 MAN-

B&W 4x30,7T $ 8,2m Syrian (FGM) Old Sale

Handysize Ken Yu 24.115 1999 Saiki,

Japan 11/2023 Mitsubishi 4x30T

$ 8,5m

enbloc Chinese

Handysize Ken San 24.102 1997 Saiki,

Japan 08/2022 Mitsubishi 4x30T DD 04/2020

Handysize Ken Ten 24.086 1997 Saiki,

Japan 07/2022 Mitsubishi 4x30T DD 06/2020

Handysize Aoli 5 23.800 2011

Zhejiang

Aoli,

China

01/2021 MAN-

B&W 3x25T Undisclosed

Chinese (New

Unite Marine)

REPORTED SALES



Tankers

Type Name Dwt YoB Yard SS M/E Price Buyer Comments

Suezmax Iskmati Spirit 165.293 2003 Hyundai Samho,

Korea 01/2023 B&W $ 19,3m

Greek

(Chemnav)

Aframax Petropavlovsk 106.532 2002 Tsuneishi, Japan 09/2022 B&W $ 14m Undisclosed

LR1 Grace Victoria 74.998 2007 Minami-Nippon,

Japan 12/2020 MAN-B&W $ 15,2m

Greek (Velos

Tankers)

Panamax DS Promoter 70.392 2002 Universal, Japan 11/2022 B&W $ 7,5m Greek (NGM)

MR Freja Baltic 47.548 2008 Onomichi, Japan 12/2020 MAN-B&W $ 16m Greek (Spring

Marine)

MR Liberty 46.803 2004 Hyundai Mipo,

Korea 02/2020 B&W $ 9,5m Undisclosed

MR Pyxis Delta 46.616 2006 Hyundai Mipo,

Korea 09/2021 MAN-B&W Undisclosed Undisclosed

DD passed

06/2019

MR Reliance II 46.108 2006 Stx, Korea 05/2021 MAN-B&W $ 13,5m UK based

(Union

Maritime)

MR Advance II 46.101 2006 Stx, Korea 06/2021 MAN-B&W $ 13,5m

MR Megacore

Honami 36.955 2010

Hyundai Mipo,

Korea 02/2020 MAN-B&W $ 11,6m Undisclosed Auction sale

MR Mariline 30.553 1996 Shin Kurushima

Onishi, Japan 03/2021 Mitsubishi Undisclosed Undisclosed

Methanol,

Zinc coated

Small Southern

Jaguar 19.997 2009 Fukuoka, Japan 03/2024 MAN-B&W $ 14m

Korean

(Saehan) St St

Small Black Leader 4.999 2008 Ningbo Dongfang,

China 03/2023 Guangzhou $ 2,55m Middle Eastern

Small Lai Bao 6.500 2007 Zhejiang Huaxia,

China

Chinese

Std. Type Undisclosed Undisclosed Auction sale

Small Leeni 4.225 2006 East China, China 06/2022 Wartsila Undisclosed Undisclosed

REPORTED SALES



Containers

Type Name Teu YoB Yard SS M/E Gear Price Buyer Comments

Post

Panamax Aristomenis 9.954 2011

Samsung,

Korea 03/2021 Wartsila - $ 54,2m

Greek

(Capital)

Internal deal

incl. T/C

Post

Panamax Athenian 9.954 2011

Samsung,


Post

Panamax Athos 9.954 2011

Samsung,


Sub

Panamax Johannes-S. 2.546 2008

Jiangsu YZJ,

China 02/2023 Wartsila 3x45T $ 7,5m

German

(Foroohari

Schiffahrts)

Feeder Samba 698 2007 Sainty,

China 10/2022 MaK 2x60T Undisclosed

Portuguese

(GS Lines)

REPORTED SALES



Indicative Demolition Prices

Country Price $/ldt

Bu

lke

rs

India 360

Bangladesh 365

Pakistan 355

China -

Turkey 230

Tan

kers

India 370

Bangladesh 375

Pakistan 365

China -

Turkey 240

Demolition Sales

Type Vessel Dwt YoB Ldt Price $/ldt Country Comments

Bulker Berge Vinson 290.160 1990 32.640 395 Bangladesh

Ro-Ro Jinsei Maru 17.435 1990 15.258 366 India Recycling in NK class HKC

yard

Tanker Lorena BR 45.229 1996 10.845 328 Bangladesh “As Is” Fortaleza

Tanker Bramco 1 37.700 1990 8.500 397 Bangladesh

Bulker Elite 23.169 1978 8.476 333 Bangladesh

Bulker Georgia K 25.369 2000 5.500 370 Bangladesh

Container Hai Su 1 8.461 2002 3.760 396 Bangladesh

GC Madurai Meenakshi 7.612 2001 3.430 355 Bangladesh

Tanker Trust Honor 7.088 1985 2.296 347 Bangladesh

140

160

180

200

220

240

260

280

300

320

$/l

dt

Tankers

China Turkey

140

160

180

200

220

240

260

280

300

320

$/l

dt

Bulkers

China Turkey

320

340

360

380

400

420

440

460

480

$/l

dt

Tankers

India Bangladesh Pakistan

320

340

360

380

400

420

440

460

480$

/ld

t

Bulkers

India Bangladesh Pakistan

DEMOLITION



Bulk Carriers

Units Dwt Yard Delivery Price Owner Comments

2 89.900 Oshima, Japan 2022 Undisclosed Japanese (MOL) Coal carriers

2 85.000 Chengxi, China 2022 Undisclosed Chinese (CDB Leasing)

Tankers

Units Dwt Yard Delivery Price Owner Comments

2+2 110.000 Qingdao Beihai, China 2021 High $ 50m Chinese (CSIC Leasing) Dual fueled, incl T/C

to Navig8

Gas

Units Cbm Yard Delivery Price Owner Comments

2 38.000 Hyundai Mipo, Korea 2021 $ 47m Greek

(Byzantine Maritime) LPG

1 18.600 Hudong Zhonghua, China 2021 $ 68m Japanese (MOL) LNG bunkering

NEWBUILDING



0

10

20

30

40

50

60

2316,5

95,5

1712,5

8,3

2822

13,59,5

3123,5

52

2822

13,5

Mill

ion

US$

BulkersCapesize

Kamsarmax

Panamax

Ultramax

Supramax

Handysize

Prompt Resale 5 years 10 years 15 years

0

20

40

60

80

100

4030

1912

56

4130

15

72

53

36

21

100

75

53

38

Mill

ion

US$

Tankers

VLCC

Suezmax

Aframax

MR

Prompt Resale 5 years 10 years 15 years

Bulkers Tankers

Size Age Week

51 Week

50 ± %

Size Age

Week 51

Week 50

± %

Capesize 180k Resale 52 52 0,00% VLCC 310k Resale 100 100 0,00%

Capesize 180k 5 years 28 28 0,00% VLCC 310k 5 years 75 75 0,00%

Capesize 180k 10 years 22 22 0,00% VLCC 300k 10 years 53 53 0,00%

Capesize 170k 15 years 13,5 13,5 0,00% VLCC 300k 15 years 38 38 0,00%

Kamsarmax 82k Resale 31 31 0,00% Suezmax 160k Resale 72 72 0,00%

Kamsarmax 82k 5 years 23,5 23,5 0,00% Suezmax 160k 5 years 53 53 0,00%

Panamax 76k 10 years 13,5 13,5 0,00% Suezmax 150k 10 years 36 36 0,00%

Panamax 74k 15 years 9,5 9,5 0,00% Suezmax 150k 15 years 21 21 0,00%

Ultramax 63k Resale 28 28 0,00% Aframax 110k Resale 56 56 0,00%

Ultramax 61k 5 years 22 22 0,00% Aframax 110k 5 years 41 41 0,00%

Supramax 58k 5 years 17 17 0,00% Aframax 105k 10 years 30 30 0,00%

Supramax 56k 10 years 12,5 12,5 0,00% Aframax 105k 15 years 15 15 0,00%

Supramax 52k 15 years 8,3 8 3,75% MR 52k Resale 40 40 0,00%

Handysize 38k Resale 23 23 0,00% MR 51k 5 years 30 30 0,00%

Handysize 37k 5 years 16,5 16,5 0,00% MR 47k 10 years 19 19 0,00%

Handysize 32k 10 years 9 9 0,00% MR 45k 15 years 12 12 0,00%

Handysize 28k 15 years 5,5 5,5 0,00%

INDICATIVE PRICES



Currencies Currency 19-Dec 12-Dec ± (%)

EUR / USD 1,1122 1,1130 -0,07% USD / JPY 109,37 109,31 0,05%

USD / KRW 1.165,68 1.186,76 -1,78% NOK / USD 0,1115 0,1101 1,27%

Commodities Commodity 19-Dec 12-Dec ± (%)

Brent Crude (BZ) 66,54 62,20 6,98% WTI Crude Oil (WTI) 61,22 59,18 3,45%

Natural Gas (NG) 2,27 2,33 -2,58% Gold (GC) 1.484,40 1.472,30 0,82%

Copper (HG) 282,65 279,65 1,07% Wheat (W) 545,25 530,25 2,83%

1,08

1,10

1,12

1,14

1,16

EUR / USD

50

55

60

65

70

$/b

bl

Oil Prices Brent Crude

WTI Crude

KEY INDICATORS



Stock Prices – Shipping Companies

Company Stock Exchange 19-Dec 12-Dec ± (%) Diana Shipping Inc (DSX) NYSE 3,09 3,30 -6,36% Euroseas Ltd (ESEA) NASDAQ 4,22 3,46 21,97% Eagle Bulk Shipping Inc (EGLE) NASDAQ 4,56 4,17 9,35% Navios Maritime Holdings Inc (NM) NYSE 5,02 4,74 5,91% Navios Maritime Partners LP (NMM) NYSE 18,20 17,62 3,29% Star Bulk Carriers Corp (SBLK) NASDAQ 11,55 10,98 5,19% Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,50 0,51 -1,96% Safe Bulkers Inc (SB) NYSE 1,75 1,73 1,16% Golden Ocean Group Ltd (GOGL) NASDAQ 5,69 5,31 7,16%

Stock Prices - Wet

Company Stock Exchange 19-Dec 12-Dec ± (%) Capital Product Partners LP (CPLP) NASDAQ 13,27 11,77 12,74% TOP Ships Inc (TOPS) NASDAQ 0,95 0,93 2,15% Tsakos Energy Navigation Ltd (TNP) NYSE 4,10 3,75 9,33%

Stock Prices - Other

Company Stock Exchange 19-Dec 12-Dec ± (%) Danaos Corp (DAC) NYSE 9,16 8,64 6,02% StealthGas Inc (GASS) NASDAQ 3,76 3,60 4,44% Rio Tinto PLC (RIO) NYSE 58,48 57,52 1,67% Vale SA (VALE) NYSE 13,22 12,91 2,40% Archer-Daniels-Midland Co (ADM) NYSE 45,64 44,91 1,63% BHP Group Ltd (BHP) NYSE 54,63 53,74 1,66%

SHIPPING INDICATIVE SHARE VALUE



ADVANCED SHIPPING & TRADING S.A.

Vouliagmenis Avenue 168, 1st Floor,

Glyfada 16674, Greece

Tel: +30 210 30 03 000

Fax: +30 210 30 01 305

Sale & Purchase Department: Capt. Fountoglou Michalis Mob: +30 6947 70 07 18 Thermos Stavros Mob: +30 6944 24 20 20

Harrington James Mob: +44 7768 10 45 33

Papoutsis George Mob: +30 6951 00 51 65

Balpakakis Manolis Mob: +30 6955 47 77 72

Chrousalas Thanasis Mob: +30 6955 47 77 73

Landrakis Stelios Mob: +30 6955 47 77 74

Bilias Tasos Mob: +30 6955 47 77 71

Kontaratos Alkis Mob: +30 6949 19 11 79

Markoutsa Nela Mob: +30 6959 99 85 10

Roussos Pantelis Mob: +30 6955 19 57 42

Mylona Irini Mob: +30 6951 97 60 02

Grigoriou Nikos Mob: +30 6948 03 69 79

Operations Department:

Katsouli Fotini Mob: +30 6942 54 23 57

Chief Executive Consultant:

Capt. Galonis Dimitrios Mob: +30 6945 55 36 81

E-mail: [email protected]




Dry Cargo Chartering Department:

Pittas Jordan Mob: +30 6944 05 27 46

Benetos Kostas Mob: +30 6943 29 32 13

Filippis Dimitris Mob: +30 6977 98 47 32

Paraskevopoulou Mina Mob: +30 6983 05 77 81

Dienis Angelos Mob: +30 6945 64 97 73

Ploumpis Stefanos Mob: +30 6951 00 24 36

Drakas Steve Mob: +30 6944 32 60 21

Petrou Viky Mob: +30 6983 32 55 69

Research Department:

Avdikos Alexandros Mob: +30 6979 49 91 78

Liadi Ioanna Mob: +30 6946 75 59 10

Liadi Artemis Mob: +30 6956 58 41 49

Accounting Department: Stergiou Kostas Mob: +30 6942 09 73 10 Administration Department: Chronopoulou Fenia Mob: +30 6932 34 94 50

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: [email protected]

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WEEKLY SHIPPING MARKET REPORT WEEK 51 · WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 51 (13th Dec to 20th Dec 2019) Capesize 40.000 Week 51 found iron ore freight rates on the West