WEEKLY MARKET REPORT

WEEKLY MARKET REPORT
November 28th, 2014 / Week 48
The view in the capesize freight market is rather pessimistic as the index had a fall this week of nearly 29%,
down by 887 points, accounting for the BDI’s 13% fall. The rest of the segments improved this week with
BPI increasing 6%, the BSI just below 5% and the BHSI above 6%.
The most interesting deal of the week is the en bloc sale of the 4 x 50,000 MR tankers ex-Sungdong to
Maersk Tankers. The vessels all give delivery in 2015 and the price is $34.75 million each. In the same
tonnage, even though rumor has it that the “HIGH NEFELI” (46,135 dwt / blt 2003 Korea) was previously
concluded, we understand that this commitment failed and she is finally sold to Ancora for $15 million. We
also report a pair of Turkish-built chemical tankers that were sold for $19 million en bloc.
In the dry market, the activity picked up from last week. The capesize action was focused in the “WAH
SHAN” (175,980 dwt / blt 2003 CSBC) which committed for $21 million and the “GLOBAL WINNER”
(161,121 dwt / blt 1997 Korea) which achieved $11.4 million. Even though we heard that Greeks might be
the potential buyers, we understand that the vessel has gone to Indian interests. Two kamsarmax resales built
in Tsuneishi Zhoushan have attracted some interest, as they have received an offer for $31 million/each. We
will revert the following week with updated information. Going on in the resale segment, a pair of ultramaxes
with delivery in 2015- ex Zhejiang, have changed hands for $54 million in total. Two sales in the modern
tonnage, a 2012 built supramax has been committed somewhere between $24.5-$25.5 million and a 2011
built handysize was concluded at region $18 million to Greek buyers.
In the newbuilding market, Reederei Vogemann added an order for 4+4 x 208,000 dwt bulkers in Yangzijiang
Shipbuilding for delivery in 2016/2017. The German owner is assumed to pay $56 million per vessel. JMU
has been booked for the construction of 2 x 320,000 dwt VLCC on behalf of Fredriksen Group for a price of
$96.5 million each and 2 x 80,800 dwt kamsarmaxes for the account of Wisdom Marine at $35 million per
ship. JMU is scheduled to deliver the tankers in 2017 and the bulk carriers approximately a year before.
Even though prices has seen a drop in the demolition market, we expect demand in India to pick up a little bit.
Recycling activity was more centered in Bangladesh with a pair of panamaxes sold together with a handymax
“as is Taiwan”.
WeberSeas, Weekly Market Report
Page 1 of 10
TANKERS
“SUNGDONG 3075” 50,000/04-15 - SUNGDONG - B&W 11,693 - COATED - COILED - SBT - IGS
COW - DH
“SUNGDONG 3076” 50,000/06-15 - SUNGDONG - B&W 11,693 - COATED - COILED - SBT - IGS
COW - DH
“SUNGDONG 3077” 50,000/10-15 - SUNGDONG - B&W 11,693 - COATED - COILED - SBT - IGS
COW - DH
“SUNGDONG 3086” 50,000/12-15 - SUNGDONG - B&W 11,693 - COATED - COILED - SBT - IGS
COW - DH
Sold en bloc for $34.75 mill each to Danish buyers (Maersk Tankers).
“HIGH NEFELI” 46,135/03 - STX - B&W 11,641 - COATED - COILED - SBT - IGS - COW - DH
SS 03/2018 , DD 02/2016
Sold for $15 mill to Greek buyers (Ancora Investment).
“CHEMTRANS RHINE” 35,024/99 - GSI - B&W 9,721 - COATED - COILED - SBT - IGS - COW - DH
SS 07/2019 , DD 10/2016
Sold for $7.4 mill to undisclosed buyers.
“OZAY-6” 11,505/08 - TURKEY - MAK 7,342 - COATED - COILED - SBT - IGS - DH - SS 05/2018
DD 05/2016
“OZAY-5” 11,505/07 - TURKEY - B&W 3,916 - COATED - COILED - SBT - IGS - DH - SS 08/2017
DD 08/2015
Sold en bloc for $19 mill to undisclosed buyers.
“ESHIPS BAINUNAH” 8,125/05 - TURKEY - MAK 3,840 - COATED - COILED - SBT - IGS - DH
SS/DD 05/2015
Sold on private terms to Danish buyers (Monjasa AS).
BULKERS
“WAH SHAN” 175,980/03 - CSBC - B&W 20,394 - 9HH - SS 10/2018, DD 10/2016
Sold for $21 mill to undisclosed buyers.
“GLOBAL WINNER” 161,121/97 - HYUNDAI H.I. - B&W 22,921 - 9HH - SS 03/2017, DD 03/2015
Sold for $11.4 mill to Indian buyers.
“GENYO” 77,509/01 - SASEBO - B&W 13,399 - 5HH - SS/DD 04/2016
Sold for $11.3 mill to Korean buyers. (Coal carrier).
“CAPE” 73,049/97 - SAMSUNG - B&W 11,800 - 7HH - SS 03/2017, DD 02/2015
Sold for $6.5 mill to Chinese buyers.
“ZHEJIANG ZJB-401” 63,500/07-15 - ZHEJIANG - B&W 16,179 - 5HH - C 4X35T
“ZHEJIANG ZJB-402” 63,500/10-15 - ZHEJIANG - B&W 16,179 - 5HH - C 4X35T
Sold en bloc for $27 mill each to Ukrainian buyers.
WeberSeas, Weekly Market Report
Page 2 of 10
“SANSHO” 55,848/12 - IHI - WARTSILA 12,087 - 5HH - C 4X30T - SS 07/2017, DD 07/2015
Sold for $25.5 mill to U.K. based buyers.
“HUDSON BAY” 29,671/11 - SHIKOKU - B&W 8,362 - 5HH - C 4X30.5T - SS/DD 02/2016
Sold for $18 mill to Greek buyers.
“TROPICAL PEGASUS” 22,332/01 - SHIN KOCHI - B&W 6,060 - 4HH - C 2X14.5T - SS/DD 03/2016
Sold for $3.3 mill to Asian buyers. (Vessel is a wood chip carrier).
CONTAINERS
“ADRIAN” 22,994/97 - POLAND - SUL 18,121 - 9HA - C 3X40T - 1,730 TEU
Sold at an auction for $2 mill to UAE based buyers.
FRESH FOR SALE
TANKERS
“CONCERTINA” 96,835/92 - SANOYAS - SUL 14,201 - COILED - SBT - IGS - COW - DH
Vessel is trading Indonesian waters.
“SICHEM ONOMICHI” 13,105/08 - SEKWANG - B&W 6,060 - COATED - COILED - SBT - IGS - DH
Vessel is inspectable in Falmouth, UK where ETA 28th November.
BULKERS
“CEBIHAN” 57,318/09 - STX - B&W 12,889 - 5HH - C 4X30T
Vessel is currently loading in Caofeidian, China where ETS 29th November.
“ELGIZNUR CEBI” 57,305/09 - STX - B&W 12,889 - 5HH - C 4X30T
Vessel is enroute Chittagong, Bangladesh where ETA 9th December.
“GEETA” 42,469/90 - OSHIMA - SUL 11,516 - 5HH - C 4X25T
Vessel is inspectable in Narvik, Norway where ETA 29th November and ETD 1st December.
“JK MONOWARA” 42,249/90 - OSHIMA - SUL 8,476 - 5HH - C 4X30T
Vessel is inspectable in Chittagong port, Bangladesh between 19th -22nd December.
“OCEAN QUARTZ” 37,194/12 - HYUNDAI MIPO - B&W 10,686 - 5HH - C 4X30T
Vessel is inspectable in Barears P, Hawai between 29th November - 8th December.
“OCEAN GALAXY” 37,193/11 - HYUNDAI MIPO - B&W 10,686 - 5HH - C 4X30T
Vessel is inspectable in Townsville, Australia between 30th November - 6th December.
WeberSeas, Weekly Market Report
Page 3 of 10
“OCEAN OPAL” 37,187/12 - HYUNDAI MIPO - B&W 10,686 - 5HH - C 4X30T
Vessel is inspectable in Taizhou, China between 28th November - 1st December.
“OCEAN HAWK” 37,138/11 - HYUNDAI MIPO - B&W 10,686 - 5HH - C 4X30T
Vessel is inspectable in Newcastle where ETB 30th November and ETS 2nd December.
CONTAINERS
“CHARLES DICKENS” 67,601/05 - HANJIN H.I. - B&W 55,889 - 4,992 TEU
Vessel is insectable in Vostochny port between 30th November - 3rd December.
“HUB ENZO” 15,407/95 - IWAGI - B&W 11,641 - 4HO, 14HA - C 2X35T - 818 TEU
Vessel presently undergoing maintenance at Port Kelang until 30th November.
WeberSeas, Weekly Market Report
Page 4 of 10
DEMOLITION
TYPE OF SHIP
ULCC/VLCC
SUEZMAX
AFRAMAX
PANAMAX TANKER
CAPE/COMBO (100,000 dwt +)
PANAMAX/KAMSARMAX
BULKER
LOCATION
CHINA
INDIA
BANGLADESH
PAKISTAN
DEMOLITION STATISTICS
THIS DATE 2014 THIS DATE 2013
11
15
5
8
18
17
2
7
2013 TOTAL
15
9
18
7
2012 TOTAL
14
15
29
3
21
41
42
68
46
36
37
101
TANKERS
365-380
475-495
485-505
485-505
BULK CARRIERS
315-345
475-495
470-485
470-485
DEMOLITION:
INDIA
M/T “KATERINA 1”
66,895/92 - 13,085 LDT - USD 475/LDT
BANGLADESH
M/V “BANOWATI”
62,633/83 - 11,805 LDT - undisclosed price
M/V “DEWI UMAYI”
61,190/81 - 12,199 LDT - undisclosed price
M/V “GROWING”
(Including 300 tons ROB)
41,545/84 - 7,477 LDT - USD 420/LDT, as is Taiwan
PAKISTAN
M/V “MEGA GRACE”
WeberSeas, Weekly Market Report
47,046/91 - 9,589 LDT - USD 453/LDT
Page 5 of 10
NEWBUILDING STATISTICS
TYPE OF
SHIP
2014
2015
ULCC/VLCC
2
SUEZMAX
AFRAMAX
* TOTAL
ORDERBOOK
2016
2017
27
46
13
88
5
10
24
15
54
4
59
64
20
147
PANAMAX
6
29
36
17
88
MR
21
198
162
30
411
10-35,000 DWT
17
94
101
69
281
15
143
144
33
335
10
143
113
43
309
CAPESIZE/
MINI CAPE /
VLOC
80-100,000
DWT
PANAMAX
10
35
3
SUPRAMAX /
HANDYMAX
48
52
342
237
52
683
HANDYSIZE
35
223
99
31
388
NEWBUILDING CONTRACTS
No
Size
Type
2
320,000 dwt
Tanker
1
158,000 dwt
Tanker
4
208,000 dwt
Bulker
2
80,800 dwt
Bulker
2
60,000 dwt
Bulker
2
37,200 dwt
Bulker
WeberSeas, Weekly Market Report
Yard
Japan Marine
United
SWS
Yangzijiang
Shipbuilding
Japan Marine
United
Shin
Kurushima
Dockyard
Zhejiang
Ouhua
Shipbuilding
Delivery
Price
(mill)
Owners
Comments
+1 option
2017
$96.50
Frontline 2012
2016/17
$64.00
CSSC
2016/17
$56.00
2016
$35.00
2017
$30.00
2016
n/a
Reederei
Vogemann
Wisdom
Marine Lines
Including T/C
+4 options
Reederei Nord
Page 6 of 10
Baltic Dry Index
Baltic Capesize
Baltic Panamax
Baltic Supramax
Baltic Handysize
BALTIC DRY EXCHANGE RATES
THIS WEEK
LAST WEEK
CHANGE
1153
1324
-171
2151
3038
-887
1120
1055
65
986
942
44
491
462
29
CHANGE %
-12.92%
-29.20%
6.16%
4.67%
6.28%
2500
2000
1500
1000
500
0
1 4 1 4 -1 4
11 1 1 -1 1 -12 12 12
12 1 2 -1 2 -13 13 13
13 1 3 -1 3 -14 14 14
-1 0 -11 11 11
ov -Ja n -M ar- M ay- -Ju l- S ep- -Nov -Ja n -M ar- M ay- -Ju l- S ep- -Nov -Ja n -M ar- M ay- -Ju l- S ep- -Nov -Ja n -M ar- M ay- -Ju l- S ep- -Nov
N
- 28
8
8
8
8
2 28
2
2 28
2
28 28 28 28 28 28 28 28 28 28 28 28 28 28 28 28 28
28
BDI
7000
6500
6000
5500
5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0
-N
28
ov
1
1
13 p -13 v -13 n-1 4 r - 14 y -1 4 l- 14 p -14 v -14
11 p -11 v -11 n-1 2 r - 12 y -1 2 l- 12 p -12 v -12 n-1 3 r - 13 y -1 3
-10 n-1 1 ar - 1
y -1
a
a
u lu
u la
u
- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- Ma 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o
8
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
BCI
3000
2500
2000
1500
1000
500
0
28
-N
ov
1
2
4
3
4
4
3
4
3
2
2
2
13 -1 3 l- 13
14
14
12
-10 n-1 1 ar - 1 y -1 1 u l- 11 p -11 v -11 n-1 2 a r - 1
v -1
v -1
n-1 ar v -1
n-1 ar p -1
p -1
y
y -1 u ly -1 u lp -1
u
- Ja 8 - M 8 - M a 28- J 8- Se 8 - N o 8- Ja 8- M 8- Ma 28 - J 8 - Se 8- N o 8- Ja 8- M 8 - M a 2 8- J 8- Se 8- N o 8 - Ja 8 - M 8- M a 28 - J 8 - Se 8 - N o
2
2
2
28
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
BPI
WeberSeas, Weekly Market Report
Page 7 of 10
BALTIC WET EXCHANGE RATES
Baltic Clean
Tanker
Baltic Dirty
Tanker
THIS WEEK
LAST WEEK
CHANGE
CHANGE %
823
752
71
9.44%
866
973
-107
-11.00%
1600
1400
1200
1000
800
600
400
200
0
28
-N
ov
-10 n-1 1 ar - 11 y -1 1 u l- 11 p -11 v -11 n-1 2 ar - 12 y -1 2 u l- 12 p -12 v -12 n-1 3 ar - 13 y -1 3 u l- 13 p -13 v -13 n-1 4 ar - 14 y -1 4 u l- 14 p -14 v -14
- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o
2
2
2
2
2
2
2
28
2
2
2
2
2
2
2
2
2
2
2
2
BCTI
1600
1400
1200
1000
800
600
400
200
0
28
-N
ov
-10 n-1 1 ar - 11 y -1 1 u l- 1 1 p -11 v -11 n-1 2 ar - 12 y -1 2 u l- 12 p -12 v -12 n-1 3 ar - 13 y -1 3 u l- 13 p -13 v -13 n-1 4 ar - 14 y -1 4 u l- 14 p -14 v -14
- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o 8- Ja 8- M 8- M a 28- J 8- Se 8- N o
2
2
2
2
2
2
2
28
2
2
2
2
2
2
2
2
2
2
2
2
BDTI
WeberSeas, Weekly Market Report
Page 8 of 10
MAJOR CAPITAL MARKETS
THIS WEEK*
INDEX
LAST WEEK*
CHANGE
CHANGE %
52 WEEKS
LOW
52 WEEKS HIGH
DOW JONES
17,827.75
17,719.00
108.75
0.61%
17,894.80
15,340.70
NASDAQ
4,787.32
4,701.87
85.45
1.82%
4,788.00
3,946.03
AIM
728.72
717.58
11.14
1.55%
897.27
676.29
NIKKEI
17,248.50
17,300.86
-52.36
-0.30%
17,520.54
13,885.10
PUBLIC COMPANIES
DRY-CARGO SECTOR
52
WEEK
HIGH
52
WEEK
LOW
LAST
WEEK*
CHANGE
SYMBOL
THIS
WEEK*
CHANGE
%
DIANA
DSX
7.70
7.84
-0.14
-1.79%
13.93
7.63
DRYSHIPS
DRYS
1.44
1.44
0.00
0.00%
5.00
1.32
GOLDENPORT HOLDINGS
GPRT.L
270.00
269.00
1.00
0.37%
500.00
261.00
NAVIOS HOLDINGS
NM
5.10
5.42
-0.32
-5.90%
12.12
4.20
CHANGE
CHANGE
%
NAME
TANKER/ENERGY SECTOR
52
WEEK
HIGH
52
WEEK
LOW
SYMBOL
THIS
WEEK*
LAST
WEEK*
CAPITAL PRODUCT
PARTNERS
CPLP
8.14
8.11
0.03
0.37%
11.63
7.31
STEALTHGAS
GASS
7.45
7.58
-0.13
-1.72%
12.52
6.78
TEN
TNP
7.10
7.08
0.02
0.28%
8.48
4.75
NAME
CONTAINER SECTOR
LAST
WEEK*
CHANGE
SYMBOL
THIS
WEEK*
CHANGE
%
52
WEEK
HIGH
52
WEEK
LOW
DAC
5.88
5.97
-0.09
-1.51%
7.75
3.96
NAME
DANAOS
* Prices reflect Wednesday’s closing value as Thursday was a Public Holiday in the U.S. Prices in US$ except for Goldenport
Holdings which is in GBP.
WeberSeas, Weekly Market Report
Page 9 of 10
RATES OF EXCHANGE
Euro / $
Sterling / $
$ / Yen
$ / Nok
$ / Won
Brent Crude
LIBOR (3-month)
THIS WEEK
LAST WEEK
CHANGE
CHANGE %
1.2481
1.5697
118.335
6.9754
1,110.24
72.97
1.2454
1.5646
117.735
6.7670
1,113.64
79.59
0.0027
0.0051
0.600
0.21
-3.41
-6.62
0.22%
0.33%
0.51%
3.08%
-0.31%
-8.32%
0.23%
0.23%
-0.002
-0.83%
ESTIMATED VALUES*
TANKERS
VLCC
Suezmax
Aframax
Panamax
Product
BULK CARRIERS
Capesize
Panamax/Kamsarmax
Supramax/Handymax
PROMPT RESALE
$103.0m
$72.0m
$54.0m
$45.0m
$36.0m
5 YEARS
$75.0m
$54.0m
$39.0m
$30.5m
$21.0m
10 YEARS
$49.0m
$35.0m
$25.0m
$22.0m
$15.5m
20 YEARS
$17.5m
$12.0m
$8.5m
$8.0m
$6.5m
PROMPT RESALE
$56.0m
$31.0m
$30.5m
5 YEARS
$40.0m
$19.0m
$20.5m
10 YEARS
$26.0m
$14.5m
$14.5m
20 YEARS
$10.0m
$6.5m
$6.5m
* The above values are based and adjusted according only to recent reported sales and are subject to
weekly changes.
TANKER T/C RATES*
VLCC (300,000 dwt)
SUEZMAX (150,000 dwt)
AFRAMAX (110,00 dwt)
PANAMAX (72,000 dwt)
MR (45-50,000 dwt)
1 YR
32,500/D
26,000/D
20,500/D
16,250/D
14,500/D
3 YRS
32,500/D
25,250/D
22,000/D
17,250/D
15,750/D
* The above figures are representative rates for modern tankers only.
BUNKER PRICES
FUEL
GRADES
380cst:
180cst:
MGO:
ROTTERDAM
$382.00
$412.00
$638.50
FUJAIRAH
$421.00
$465.00
$890.00
PIRAEUS
$395.00
$422.00
$665.00
SINGAPORE
$437.50
$448.50
$662.50
The information contained in this report has been obtained from various market sources. WEBERSEAS (HELLAS) S.A. believes such
information to be factual and reliable without making guarantees regarding its accuracy or completeness. WSH will not be held responsible for
any action or failure to take action upon reliance on information contained in this report.
© 2014 WEBERSEAS (HELLAS) S.A. All Rights Reserved
WeberSeas, Weekly Market Report
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