WEEKLY SHIPPING MARKET REPORT WEEK 52 · WEEKLY SHIPPING MARKET REPORT - pg. 6 Bulk Carriers Size Prompt Resale 5 years 10 years 15 years Capesize 45.5 33 21 14 Panamax-Kamsarmax

WEEKLY SHIPPING MARKET REPORT - pg. 1

S&P Market Activity Bulkers

As we get ready to welcome 2018 and usually holiday season affects the shipping

activity, in the dry cargo market we are reporting a number of interesting sales. Getting

started with the Newbuilding sector, 9 orders were placed with most notable the 4

Newcastlemax to Chinese yards. Chinese c/o Foremost Maritime ordered 2 at SWS

while Norweagians c/o 2020 Bulkers another 2 at New Times for 44.7 usd mill each. In

the Secondhand market and the Kamsarmax sector the SDARI 80 type “Voge Enterpise”

79.4k/2001 COSCO Dalian, China sold close to sellers expectations at rgn 14.9 usd mill.

to undisclosed buyers. It was the 26th Chinese built Kamsarmax sold during this year

and 66th in total. During December Panamax sector was strong with 11 vessels

monthly total including another 3 sales during this last week. Chinese buyers were the

dominants with 6 purchases. For this week, vessels that sold were the “Genco

Vigour”+”Genco Knight” 74k/1999 Oshima, Japan at 7.2 usd mill. each to undisclosed

buyers. As per the last done, remind you that “Silver One” 73k/2000 Daedong, S.Korea

sold in the beginning of December at rgn 8 usd mill. to Chinese with DD due 3/2018.

During the last 6 months 2 failed sales held for the Supramax “U-Lucky” 57k/2011

Xiamen, China but finally sold and delivered before the new year to her new Greek

buyers for a price of 11.5 usd mill. In the same time, undisclosed buyers purchased the

“Queen P” 51k/2009 Imabari, Japan at $ 12.5 usd mill. price close to last done of this

age/dwt “Ocean Friend” 51/2009 Oshima, Japan which was sold at high 12 usd mill.

back to October. In the Handysize, around 89 sales concluded this year having as final

the “Azure Bulker” 33k/2012 Kanda Japan at 13 usd mill. having with last done previous

week’s sale of “Global Horizon” 33k/2010 Shin Kurushima, Japan. In the same time

“Annecy” 32k/2007 Hakodate, Japan sold at 10 usd mill. price in line with the market.

Tankers

On the tanker side ,c/o COSCO Shipping placed an order for 7 tankers, incl. Aframax and LR1 at GSI yard for dely 2019-2021, while Greeks c/o Central Shipping placed 2+ option 2 Suezmax at Hyundai Samho for 55.5 usd mil each. In total 16 NB orders placed this week incl. 3 gas carriers. In the secondhand market, c/o KNOT Offshore Partners paid 96 usd mill. in an internal deal for the Suezmax “Brazil Knutsen” 153k/2013 Samsung, Korea. In the MR sector, “High Freedom” 50k/2014 Hyundai Mipo, S.Korea achieved 28 usd mill. with the option for sellers to re-purchase the vessel after 2 yrs. Remarkable also was the 4 total sales of gas carriers on a total amount of $ 98 mill. with buyers mainly F.Easterns but also the Italians c/o Carbofin who spent 45 usd mill. for the IGS fitted “Maritime Sun” 38cbm/2018 HHI S.Korea.

Dry Bulk Commentary

A very quiet week due to the forthcoming New Year celebrations with no indices reported. In general market feels to be softening in all sizes, routes, trades etc. as most of the key players have covered their requirements since last week. For the Capes, rumors suggested West Australian iron ore rates into China were worth low usd 8.00’s pmt levels. Brazilian iron ore into China came off at around usd 16.00-16.50 pmt levels, however nothing officially reported. Panamax/Kamsarmax market was very quiet this week and have only heard that late 90’s built tonnage secured around $9,500 for inter-PG employment of abt 10-15 days. Also, a Handy (27K dwt) offered 9K for interPG steels tct. On the Smax Pacific market heard (56K dwt tonnage) holding usd mid 9K for 12 mos and usd 6500 for single trip via CJK to WCI with steel coils. Chartering activity, if any, has remained more or less private for the smaller sizes; from Ultramax down to Handy size vessels. Thus we would like to close this very short report wishing you a splendid holiday season and may the New Year bring continued better markets, happiness, good health, and abundant success to you and to your loved ones. Happy 2018!!!

‘’ Bulker ’’

‘’ Tanker ’’

Indicative Demolition Prices

Country Tanker Prices Bulker Prices

India 440 430

Bangladesh 430 420

Pakistan 430 410

China 230 210

Turkey 290 275

WEEKLY SHIPPING MARKET REPORT WEEK 52

WEEK 52 (22nd Dec to 29th Dec 2017)

WEEKLY SHIPPING MARKET REPORT WEEK 52



Bulk Carriers

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

Kamsarmax Voge

Enterprise 79.410 2001

COSCO

Dalian,

China

02/2021 B&W - $ 14.9 Undisclosed

Panamax Genco

Vigour 73.941 1999

Oshima,

Japan 10/2019 Sulzer - $ 7.2 Undisclosed

Panamax Genco

Knight 73.941 1999

Oshima,

Japan 04/2019 Sulzer - >> >>

Supramax U-Lucky 57.000 2011 Xiamen,

China 09/2021 B&W 4 x 30 T $ 11.5 Greek

Supramax Queen P 51.241 2009 Imabari,

Japan 11/2019 B&W 4 x 30.5 T $ 12.5 Undisclosed

Handysize Azure

Bulker 33.191 2012

Kanda

Kawajiri,

Japan

02/2022 Mitsubi

shi 4 x 30.5 T $ 13.0 Undisclosed

Handysize Annecy 31.931 2007 Hakodate,

Japan 07/2022

Mitsubi

shi 4 x 30 T $ 10.0 Undisclosed

REPORTED SALES

WEEK 23 (2nd Jun to 9th Jun 2017)

WEEK 45 (3rd Nov to 10th Nov 2017)

REPORTED SALES



Tankers

Type Name Dwt/Cbm YoB Yard SS M/E Price(mill) Buyer Comments

Suezmax Brazil

Knutsen 153.684

Dwt 2013

Samsung, S.Korea

05/2018 B&W $ 96.0

UK Based (KNOT

Offshore Partners)

Internal Deal Shuttle Tanker

LR1 Advance Victoria

74.995 Dwt 2006 Minami-

Nippon, Japan 08/2021 B&W $ 13.5 European

Epoxy Coated – 13.150 Ldt

Mr2 High

Freedom 49.990 Dwt 2014

Hyundai Mipo, S.Korea

01/2019 B&W $ 28.0 Undisclosed

Incl. 10 yrs BBB (Sellers have

option to repurchase her

after 2 yrs)

LNG Echigo Maru 125.568

Cbm 1983

MHI Nagasaki, Japan

- Mitsubishi $ 15.0 Korean

(Sinokor)

LPG Maritime

Sun 38.000

Cbm 2018 HHI, S.Korea - B&W $ 45.0

Italian (Carbofin)

IGS

LPG Sloman Ariadne

20.600 Cbm

2011 Hyundai Mipo,

S.Korea 11/2021 B&W $ 34.0

Singaporean (Pacific

Carriers)

Incl. Charter – IGS/SBT 8 pumps

LPG Odyn Gas 6.556 Cbm

1995 Shin

Kurushima, Japan

11/2020 Mitsubishi $ 4.1 Thai

(Siam Gas & Oil)

Containers

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

Panamax ALS Fortuna 4.275 2009 Samsung,

Japan 05/2019 Wartsila - $ 15.0

Chinese

(Ansheng)

Sellers

purchased as

“Seaspan

Moon” in

8/2017 at $

9.7 mill

Sub Pmax Ryujin

Nakira 2.553 2007

Naikai

Zosen,

Japan

10/2021 B&W - $ 10.0 Norwegian

Feeder Antigoni 1.049 2008 Dae Sun,

S.Korea 01/2018 B&W

- $ 16.1

enbloc

German

(MPC

Container)

Small Feeder Annika 0.982 2008 Dae Sun,

S.Korea 01/2018 B&W

REPORTED SALES

WEEK 50 (8th Dec to 15th Dec 2017)

REPORTED SALES

WEEK 51 (15th Dec to 22nd Dec 2017)

REPORTED SALES



Type Vessel Dwt YoB Ldt Price $ Country Comments

Miscellaneous Ore Fabrica 280.815 1993 45,552 440 India Green Recycling – Trans

Shipment Vessel

Offshore Skarpov 55.173 1979 20,097 n/a India

Container Al Abdali 49.844 1998 18,978 n/a Turkey

Container Asir 49.856 1998 18,966 n/a Turkey Old sale

Tanker Alfa Brittania 99.222 1998 16,519 n/a India Old sale

BC Krakow 69.408 1982 15,900 430 India Self Discharging

Tanker Sendora 68.790 1996 12,964 n/a India

RoRo Yong Chang 12.762 1988 12,361 n/a India

Tanker Nireas 33.100 1995 10,203 375 “As Is” Bandar Abbas - Old sale

BC Xin Hai Jing 13.679 1981 7,654 n/a China

GC Andres 14.080 1998 4,983 n/a Cuba

Offshore/Tug Hurricane-I 2.499 1988 2,450 n/a Bangladesh

GC Alaska Ace 6.135 1981 2,041 310 Bangladesh

Offshore/Tug Brodospas Sun 1.230 1986 1,730 n/a Turkey

Research Northern Explorer 1.000 1987 1,474 510 India Large gens, bronze spare

propeller blades

Offshore Putford Guardian 0.807 1967 n/a n/a Denmark

Reefer Blue Ice 3.514 1980 n/a n/a India

Offshore/Tug BNI Acamar 1.116 1975 n/a n/a Indonesia

Offshore/Tug Demo II 1.200 1980 n/a n/a n/a

RoPax Star 5.455 1978 n/a n/a Turkey

Tug Red Eagle 0.928 1976 n/a n/a India

Offshore Seacor Spirit 1.758 1998 n/a n/a n/a

Offshore/Tug Seacor Venture 2.088 2000 n/a n/a n/a

DEMOLITION

WEEK 36 (1st Sept to 8th Sept 2017)

DEMOLITION



Bulkers

Units Type Dwt Yard Delivery Price (mill) Owner Comments

2 Newcastlemax 208,000 SWS, China 2020 Undisclosed

China

(Foremost Maritime)

2 Newcastlemax 208,000 New Times, China 1/2020 $ 44.7 each Norway

(2020 Bulkers)

1 Ultramax 62,000 COSCO Dalian, China 7/2019 $ 34.1

(RMB 222.0) China

(COSCO Shipping) Open Hatch

1 Handysize 34,000 Hakodate, Japan 2020 Undisclosed

Japan (Itochu)

3 MPP 10,000 Higaki Zosen, Japan 2019-2020 Undisclosed

Taiwan

(Glory Navigation)

Tankers

Units Type Dwt Yard Delivery Price (mill) Owner Comments

2+2 Suezmax 160,000 Dwt Hyundai Samho,

Korea Mid 2019 $ 55.5 each

Greece

(Central Shipping)

3 Aframax 114,000 Dwt GSI, China 2019-2020

Undisclosed

2 Aframax 109,000 Dwt GSI, China 2020-2021

China (COSCO Shipping

Energy Transportation)

2 LR 1 64,000 Dwt GSI, China 2020

1+1 Handy 24,000 Dwt Fujian Mawei, China 2019 $ 29.0 China

(Heng Tong Fuels)

Clean

1 LPG 82,000 Cbm Kawasaki Hi Sakaide,

Japan 12/2019 Undisclosed

Greece (Phoenix Tankers)

2 LPG 79,500 Cbm n/a 2020 Undisclosed Belgium (Exmar)

Containers

Units Type Teu Yard Delivery Price (mill) Owner Comments

4 Feeder 640 Fujian Mawei, China 2019 Undisclosed China

(Quanzhou Ansheng)

4 Feeder 640 Nantong Xiangyu,

China 2019 >> >>

NEWBUILDING



Bulk Carriers

Size Prompt Resale 5 years 10 years 15 years

Capesize 45.5 33 21 14 Panamax-Kamsarmax 28.5 21 14 10.5 Ultramax - Supramax 27 17.5 12.5 9

Handysize 22 13 9.5 6

Tankers

Size Prompt Resale 5 years 10 years 15 years

VLCC 83 64 40 23 Suezmax 56 41 26 13 Aframax 44 30 19.5 9

MR 35 25 16.5 9.5

INDICATIVE PRICES


0

50

Prompt Resale 5 years 10 years 15 years

45,533

2114

28,521

14 10

2717,5 12,5 9

2213 9,5 6,5

Bulk Carriers

Capesize Panamax Supramax Handysize

0

50

100

Prompt Resale 5 years 10 years 15 years

8161

3723

5439

2513

43,529,5

18,5 934 23,5 16,5 9

Tankers

VLCC Suezmax Aframax MR


Currency Week 52 Week 51 Change (%) EUR / USD 1.1954 1.1855 0,84 JPY / USD 112.66 113.41 0,66 KRW / USD 1,067.40 1,079.65 1,13 NOK / USD 0.1213 0.1194 1,59

Commodity Week 52 Week 51 Change (%) Brent Crude (BZ) 66.57 64.85 2,65

WTI Crude Oil (WTI) 60.22 58.18 3,51 Natural Gas (NG) 2.96 2.61 13,41

Gold (GC) 1,297.50 1,270.70 2,11 Copper 329.40 321.15 2,57

Wheat (w) 426.00 425.50 0,12

KEY INDICATORS


1,1

1,12

1,14

1,16

1,18

1,2

1/7/2017 1/8/2017 1/9/2017 1/10/2017 1/11/2017 1/12/2017

EUR / USD

0

10

20

30

40

50

60

70

WTI Crude

0

10

20

30

40

50

60

70

Brent Crude


Stock Prices – Shipping Companies

Company Stock Exchange Week 52 Week 51 Change (%)

Diana Shipping Ink (DSX) NASDAQ 4.07 4.11 0,97 Dry ships Ink (DRYS) NASDAQ 3.54 3.46 2,31 Euroseas Ltd (ESEA) NASDAQ 1.74 1.75 0,57

Eagle Bulk Shipping Inc (EGLE) NASDAQ 4.54 4.47 1,57 Navios Maritime (NM) NYSE 1.27 1.31 3,05

Navios Maritime PTN (NMM) NYSE 2.27 2.28 0,44 Star Bulk Carriers Corp (SBLK) NASDAQ 11.17 11.15 0,18

Seanergy Maritime Holdings Corp (SHIP) NASDAQ 1.04 1.03 0,97 Safe Bulkers Inc (SB) NYSE 3.18 3.25 2,15

Golden Ocean (GOGL) NASDAQ 8.18 8.13 0,62

Stock Prices - Wet


Capital Product Partners LP (CPLP) NASDAQ 3.36 3.41 1,47 TOP Ships Inc (TOPS) NASDAQ 0.26 0.25 4,00

Tsakos Energy Navigation (TNP) NYSE 3.96 3.96 0,00

Stock Prices - Other


Aegean Maritime Petrol (ANW) NYSE 4.25 4.10 3,66 Danaos Corporation (DAC) NYSE 1.45 1.45 0,00

Stealth Gas Inc (GASS) NASDAQ 4.38 4.03 8,68 Rio Tinto (RIO) NYSE 52.76 51.41 2,63

Vale (VALE) NYSE 12.18 12.05 1,08 ADM Archer Daniels Midland (ADM) NYSE 40.27 40.09 0,45

BHP Billiton (BHP) NYSE 46.38 45.06 2,93

SHIPPING INDICATIVE SHARE VALUE



ADVANCED SHIPPING & TRADING S.A.

Vouliagmenis Avenue 168, 1st Floor, E-mail: [email protected]

Glyfada 16674, Greece E-mail: [email protected]

Tel: +30 210 30 03 000 E-mail: [email protected]

Fax: +30 210 30 01 305

Sale & Purchase Department: Dry Cargo Chartering Department:

Capt. Fountoglou Michalis Mob: + 30 6947 70 07 18 Bonatsos Mavra Mob: +30 6951 00 24 36

Harrington James Mob: + 44 7768 10 45 33 Benetos Kostas Mob: +30 6943 29 32 13

Papoutsis George Mob: + 30 6951 00 51 65 Tiliakos Michalis Mob: +30 6951 97 60 02

Balpakakis Manolis Mob: +30 6955 47 77 72 Pittas Iordanis Mob: +30 6944 05 27 46

Chrousalas Thanasis Mob: +30 6355 47 77 73 Manessis Sophia Mob: +30 6955 19 57 42

Landrakis Stelios Mob: +30 6955 47 77 74

Bilias Tasos Mob: +30 6955 47 77 71

Tsintas Kostas Mob: +30 6959 99 85 10

Kontaratos Alkis Mob: +30 6948 78 05 52

Markoutsa Kanella Mob: +30 6978 41 72 90

Operations Department: Research Department:

Katsouli Fotini Mob: +30 6955 47 77 75 Stergiou Kostas Mob: +30 6942 09 73 10

Chief Executive Consultant: Administration Department:

Capt. Galonis Dimitrios Mob: +30 6945 55 36 81 Chronopoulou Fenia Mob: +30 6932 34 94 50

‘’ THINK BIG ’’

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]

CONTACT DETAILS

WEEK 2 (06th Jan to 13th Jan 2017)

CONTACT DETAILS


Documents

WEEKLY SHIPPING MARKET REPORT WEEK 52 · WEEKLY SHIPPING MARKET REPORT - pg. 6 Bulk Carriers Size Prompt Resale 5 years 10 years 15 years Capesize 45.5 33 21 14 Panamax-Kamsarmax