0
Secondhand Market page 1/2
Overview of S&P Activity page 1
Top Ranking of Buyers page 1
S&P Activity –Statistics page 2
Greek Presence page 2
Chinese Presence page 2
Demolition Market page 3/4
Overview of Demo Activity page 3
Top Ranking of Demo Countries page 3
Demo Activity –Statistics page 5
Demo Activity-Countries page 4/5
Pakistan /India/Bdesh page 4
China page 5
Special Feature-Dry Period page 6/7 Bulk Carriers Fixture Activity
Capesize page 6
Post Panamax page 6
Kamsarmax page 6
Panamax page 6
Supramax page 7
Handymax page 7
Handysize page 7
Total Fixture Activity page 7
Freight Market Performance page 8/9 Dry Market - Charts
Baltic Dry Indices page 8
BDI & TC Average Earnings page 8 Tanker Market - Charts
Baltic Tanker Indices page 9 Summary of Baltic Indices page 9 Summary of Baltic TC Avg. Earnings page 9
SECONDHAND MARKET
DEMOLITION MARKET
BULK CARRIERS – PERIOD
MARKET
FREIGHT RATES –BALTIC
INDICES
GRAPHICAL ANALYSIS OF
BALTIC INDICES
Monthly
Market
Report Issue March 2019
All the information contained in this report is given in good faith, but without
any guarantee from our part, and is based on our S&P Market Reports and
Insight Market Information provided and/or collected from various sources.
This report is presented for the sole and exclusive information of its
recipients and whilst every care has been taken in the preparation of this
report, no representation or warranty, express or implied, is made by Golden
Destiny S.A. in respect of the accuracy, completeness or correctness of the
information contained herein. Neither our company nor its directors or
employees assumes or accepts any liability whatsoever for any loss or
damage incurred by any person whatsoever in relation to and/or as a result
of the use of and/or due to any person’s reliance on the information
contained in this report. Furthermore, no responsibility is accepted in
respect of any errors or inaccuracies which may be contained in this report.
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH
Website: www.goldendestiny.com Research & Valuations: [email protected] Sale & Purchase: [email protected] Marine Insurance: [email protected] GOLDEN DESTINY PIRAEUS: 57 AKTI MIAOULI 18536 TEL: +30 210 4295000 FAX: +30 210 4292346
GOLDEN DESTINY RESEARCH SERVICES
WEEKLY PUBLICATIONS: Weekly S&P Market Report
MONTHLY PUBLICATIONS:
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ANNUAL PUBLICATIONS: Annual S&P Statistics for the pace of shipping investments
SPECIAL EDITIONS:
Weekly S&P Market Trends Other Reports / Analysis concerning the outlook of Secondhand / Demolition / Newbuilding Transactions
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 1 MONTHLY MARKET REPORT
SECONDHAND MARKET - Overview of S&P Activity
Top Ranking of Buyers
m-o-m y-o-y
80% 10%No. of Vessels Changed Hands
Mar-19
117
Previous Month Mar-18
65 106
12 yrs old built 2007
20 66,613
Bulkers 160% m-o-m 30% y-o-y
Units: 52
10 yrs old built 200910
Tankers 68% m-o-m 121% y-o-y 652,330,000
Average Age of Vessels Sold: 14 yrs old built 2005 Units: 42
0
Containers 0% m-o-m -63% y-o-y 47,500,000
Average Age of Vessels Sold: 14 yrs old built 2005 Units: 6
1
61,117
100,906
S&P deals reported at an undisclosed sale price:
Average Dwt Sold:
Total Invested Capital:
S&P deals reported at an undisclosed sale price:
Average Dwt Sold:S&P deals reported at an undisclosed sale price: 37,312
Average Age of Vessels Sold (in Total): Total Invested Capital: 1,291,120,000
Average Age of Vessels Sold:S&P deals reported at an undisclosed sale price:
Total Invested Capital:
Average Dwt Sold:
Average Dwt Sold:
Total Invested Capital: 509,930,000
Bulkers No. of S&P deals Average Dwt Average Built
VLOC - - -
Newcastlemax - - -
Capesize - - -
Post Panamax 1 91,765 2002
Kamsarmax 8 81,421 2015
Panamax 12 76,610 2005
Ultramax 8 62,290 2015
Supramax 10 57,135 2010
Handymax 2 47,303 1998
Handysize 5 36,199 2013
Handy 6 28,394 2003
Small - - -
Tankers No. of S&P deals Average Dwt Average Built
VLCC 7 301,776 2001
Suezmax 2 159,792 1999
Aframax 7 106,621 2003
Panamax 2 74,848 2009
MR/Handymax 18 44,997 2008
Handy 4 22,212 2005
Small 2 5,597 2010
Containers No. of S&P deals Average Dwt Average Built
ULCV - - -
Neopanamax - - -
Post-Panamax - - -
Panamax 2 73,877 2004
Feedermax 1 32,878 2006
Feeder 3 14,413 2005
Small feeder - - -
Secondhand Buying Trends (S&P Activity Reported per Vessel Size - Current Month)
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 2 MONTHLY MARKET REPORT
SECONDHAND MARKET
S&P Activity (No of Units Changed Hands, Dwt, Invested Capital) Greek Presence (No of Vessel Purchases, Dwt, Invested Capital) Chinese Presence (No of Vessel Purchases, Dwt, Invested Capital)
S&P Activity (Secondhand Market)
Vessel Type Units Dwt ($) Invested P&C Auction Units %m-o-m Units %y-o-y
Bulk Carriers 52 3,178,076 509,930,000 10 1 20 160% 40 30%
Tankers 42 4,238,048 652,330,000 0 1 25 68% 19 121%
Gas Tankers 6 116,770 66,000,000 2 0 3 100% 8 -25%
General Cargo/MPP 1 9,851 4,800,000 0 0 0 5 -80%
Containers 6 223,871 47,500,000 1 0 6 0% 16 -63%
Reefers 0 0 0 0 0 0 0
Passenger/Cruise 1 48 0 1 0 0 1 0%
Ro-Ro 1 7,600 2,810,000 0 0 1 0% 0
Car Carrier 0 0 0 0 0 0 0
Combined 0 0 0 0 0 0 0
Special Projects 8 19,500 7,750,000 6 0 10 -20% 17 -53%
TOTAL 117 7,793,764 1,291,120,000 20 2 65 80% 106 10%
GREEK PRESENCE 14% share to the total S&P Activity
Vessel Purchases (Secondhand Market)
Vessel Type Units Dwt ($) Invested P&C Auction Units %m-o-m Units %y-o-y
Bulk Carriers 6 411,450 96,400,000 0 0 2 200% 9 -33%
Tankers 6 607,240 127,330,000 0 0 0 7 -14%
Gas Tankers 0 0 0 0 0 0 0
General Cargo/MPP 0 0 0 0 0 0 0
Containers 2 147,754 21,600,000 0 0 2 0% 0
Reefers 0 0 0 0 0 0 0
Passenger/Cruise 0 0 0 0 0 0 0
Ro-Ro 0 0 0 0 0 0 0
Car Carrier 0 0 0 0 0 0 0
Combined 0 0 0 0 0 0 0
Special Projects 2 2,400 0 2 0 1 100% 0
TOTAL 16 1,168,844 245,330,000 2 0 5 220% 16 0%
CHINESE PRESENCE 17% share to the total S&P Activity
Vessel Purchases (Secondhand Market)
Vessel Type Units Dwt ($) Invested P&C Auction Units %m-o-m Units %y-o-y
Bulk Carriers 16 1,078,481 94,600,000 7 0 4 300% 13 23%
Tankers 1 298,414 24,250,000 0 0 0 2 -50%
Gas Tankers 1 6,634 0 1 0 0 1 0%
General Cargo/MPP 0 0 0 0 0 0 0
Containers 2 25,293 16,400,000 0 0 1 100% 1 100%
Reefers 0 0 0 0 0 0 0
Passenger/Cruise 0 0 0 0 0 0 0
Ro-Ro 0 0 0 0 0 0 0
Car Carrier 0 0 0 0 0 0 0
Combined 0 0 0 0 0 0 0
Special Projects 0 0 0 0 0 0 0
TOTAL 20 1,408,822 135,250,000 8 0 5 300% 17 18%
Previous Year
Previous Month Previous Year
Previous YearPrevious Month
Previous Month
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 3 MONTHLY MARKET REPORT
DEMOLITION MARKET - Overview of Demo Activity
Top Ranking of Demo Countries
m-o-m y-o-y
17% -32%No. of Vessel Demolitions 41 35 60
Mar-19 Previous Month Mar-18
Average Age of Vessels Scrapped: 27 yrs old built 1992
56,805
Bulkers 11% m-o-m 43% y-o-y
Units: 10
25.3 yrs old built 1994 140,590
Tankers -50% m-o-m -91% y-o-y
Units: 2
40 yrs old built 1979 3,544
Containers 33% m-o-m 300% y-o-y 465,256
Units: 12
20 yrs old built 1999 38,771
Total Deadweight:
Total Deadweight:
Total Deadweight:
Total Deadweight:
Average Age of Vessels Scrapped: Average Dwt :
2,328,988
1,405,896
Average Dwt :
Average Age of Vessels Scrapped:
Average Age of Vessels Scrapped:
7,088
Average Dwt :
Average Dwt :
Demolition Trends (Scrapping Activity Reported per Vessel Size - Current Month)
Bulkers No. of Demolitions Average Dwt Average Built
VLOC - - -
Newcastlemax 2 276,486 1992
Capesize 4 165,227 1998
Post Panamax - - -
Panamax 2 67,261 1986
Handymax 1 45,792 2000
Handysize - - -
Handy 1 11,702 1990
Small - - -
Tankers No. of Demolitions Average Dwt Average Built
VLCC - - -
Suezmax - - -
Aframax - - -
Panamax - - -
MR/Handymax - - -
Handy - - -
Small 2 3,544 1979
Containers No. of Demolitions Average Dwt Average Built
ULCV - - -
Neopanamax - - -
Post-Panamax - - -
Panamax 4 65,537 2006
Feedermax 2 40,748 1998
Feeder 6 20,269 1995
Small feeder - - -
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 4 MONTHLY MARKET REPORT
DEMOLITION MARKET
Demo Activity (No of Units Demolished, Dwt) per vessel type Demo Activity per Demolition Country (Bangladesh, India)
Demo Activity (Demoltion Market)
Vessel Type Units Dwt Units %m-o-m Units %y-o-y
Bulk Carriers 10 1,405,896 9 11% 7 43%
Tankers 2 7,088 4 -50% 22 -91%
Gas Tankers 2 77,456 0 2 0%
General Cargo/MPP 2 65,609 1 100% 5 -60%
Containers 12 465,256 9 33% 3 300%
Reefers 2 23,477 0 3 -33%
Passenger/Cruise 1 4,322 2 -50% 2 -50%
Ro-Ro 2 17,746 3 -33% 1 100%
Car Carrier 0 0 0 0
Combined 0 0 0 0
Special Projects 8 262,138 7 14% 15 -47%
TOTAL 41 2,328,988 35 17% 60 -32%
Previous Month Previous Year
India 20%
Vessel Type Units Dwt Units %m-o-m Units %y-o-y
Bulk Carriers 1 11,702 2 -50% 0
Tankers 1 5,858 0 4 -75%
Gas Tankers 1 9,996 0 2 -50%
General Cargo/MPP 0 0 0 3 -100%
Containers 3 122,530 2 50% 0
Reefers 2 23,477 0 1 100%
Passenger/Cruise 0 0 0 2 -100%
Ro-Ro 0 0 1 -100% 0
Car Carrier 0 0 0 0
Combined 0 0 0 0
Special Projects 0 0 1 -100% 3 -100%
TOTAL 8 173,563 6 33% 15 -47%
Previous Month Previous Year
share of total Demo Activity
Bangladesh 41%
Vessel Type Units Dwt Units %m-o-m Units %y-o-y
Bulk Carriers 6 902,433 6 0% 2 200%
Tankers 0 0 2 -100% 10 -100%
Gas Tankers 1 67,460 0 0
General Cargo/MPP 2 65,609 0 2 0%
Containers 5 195,028 3 67% 1 400%
Reefers 0 0 0 0
Passenger/Cruise 1 4,322 0 0
Ro-Ro 1 5,517 1 0% 1 0%
Car Carrier 0 0 0 0
Combined 0 0 0 0
Special Projects 1 1,000 1 0% 1 0%
TOTAL 17 1,241,369 13 31% 17 0%
Previous Month Previous Year
share of total Demo Activity
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 5 MONTHLY MARKET REPORT
DEMOLITION MARKET
Demo Activity per Demolition Country (Pakistan, China)
Pakistan 0%
Vessel Type Units Dwt Units %m-o-m Units %y-o-y
Bulk Carriers 0 0 0 4 -100%
Tankers 0 0 1 -100% 1 -100%
Gas Tankers 0 0 0 0
General Cargo/MPP 0 0 0 0
Containers 0 0 0 0
Reefers 0 0 0 0
Passenger/Cruise 0 0 1 -100% 0
Ro-Ro 0 0 0 0
Car Carrier 0 0 0 0
Combined 0 0 0 0
Special Projects 0 0 1 -100% 1 -100%
TOTAL 0 0 3 -100% 6 -100%
Previous Month Previous Year
share of total Demo Activity
China 0%
Vessel Type Units Dwt Units %m-o-m Units %y-o-y
Bulk Carriers 0 0 0 0
Tankers 0 0 0 0
Gas Tankers 0 0 0 0
General Cargo/MPP 0 0 0 0
Containers 0 0 0 1 -100%
Reefers 0 0 0 0
Passenger/Cruise 0 0 0 0
Ro-Ro 0 0 0 0
Car Carrier 0 0 0 0
Combined 0 0 0 0
Special Projects 0 0 0 0
TOTAL 0 0 0 1 -100%
Previous Month Previous Year
share of total Demo Activity
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 6 MONTHLY MARKET REPORT
SPECIAL FEATURE – DRY PERIOD MARKET
Bulk Carriers Fixture Activity ( No. of Fixtures per vessel size /age and type of fixture period) CAPESIZE / POST PANAMAX/ KAMSARAMAX / PANAMAX
3-6
MONTHS
6-12
MONTHS
12-24
M0NTHS
24-36
M0NTHS
>36
MONTHS
>=2016 N/B 0 0 0 0 0 0
2011-2015 UP TO 5YRS 3 0 1 2 0 0
2006-2010 UP TO 10YRS 4 0 1 3 0 0
2001-2005 UP TO 15YRS 1 0 0 1 0 0
1996-2000 UP TO 20YRS 0 0 0 0 0 0
1986-1995 UP TO 30YRS 0 0 0 0 0 0
8 0 2 6 0 0
3-6
MONTHS
6-12
MONTHS
12-24
M0NTHS
24-36
M0NTHS
>36
MONTHS
>=2016 N/B 0 0 0 0 0 0
2011-2015 UP TO 5YRS 0 0 0 0 0 0
2006-2010 UP TO 10YRS 0 0 0 0 0 0
2001-2005 UP TO 15YRS 0 0 0 0 0 0
1996-2000 UP TO 20YRS 0 0 0 0 0 0
1986-1995 UP TO 30YRS 0 0 0 0 0 0
0 0 0 0 0 0
3-6
MONTHS
6-12
MONTHS
12-24
M0NTHS
24-36
M0NTHS
>36
MONTHS
>=2016 N/B 0 0 0 0 0 0
2011-2015 UP TO 5YRS 0 0 0 0 0 0
2006-2010 UP TO 10YRS 3 1 0 2 0 0
2001-2005 UP TO 15YRS 0 0 0 0 0 0
1996-2000 UP TO 20YRS 0 0 0 0 0 0
1986-1995 UP TO 30YRS 0 0 0 0 0 0
3 1 0 2 0 0
3-6
MONTHS
6-12
MONTHS
12-24
M0NTHS
24-36
M0NTHS
>36
MONTHS
>=2016 N/B 0 0 0 0 0 0
2011-2015 UP TO 5YRS 1 1 0 0 0 0
2006-2010 UP TO 10YRS 0 0 0 0 0 0
2001-2005 UP TO 15YRS 4 2 1 1 0 0
1996-2000 UP TO 20YRS 1 0 1 0 0 0
1986-1995 UP TO 30YRS 0 0 0 0 0 0
6 3 2 1 0 0
BULK CARRIERS FIXTURE ACTIVITY IN MARCH 2019
CAPESIZE (120,000-219,999 DWT) - FIXTURES PER VESSEL'S AGE
BUILT VESSEL'S AGE
FIXTURES
NO.
FIXTURE PERIOD
TOTAL
POST PANAMAX - FIXTURES PER VESSEL'S AGE
BUILT VESSEL'S AGE
FIXTURES
NO.
FIXTURE PERIOD
TOTAL
KAMSARMAX - FIXTURES PER VESSEL'S AGE
BUILT VESSEL'S AGE
FIXTURES
NO.
FIXTURE PERIOD
TOTAL
ULTRAMAX/PANAMAX (60,000-76,999 DWT) - FIXTURES PER VESSEL'S AGE
BUILT VESSEL'S AGE
FIXTURES
NO.
FIXTURE PERIOD
TOTAL
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 7 MONTHLY MARKET REPORT
SPECIAL FEATURE – DRY PERIOD MARKET
Bulk Carriers Fixture Activity ( No. of Fixtures per vessel size /age and type of fixture period) SUPRAMAX / HANDYMAX/ HANDYSIZE
3-6
MONTHS
6-12
MONTHS
12-24
M0NTHS
24-36
M0NTHS
>36
MONTHS
>=2016 N/B 0 0 0 0 0 0
2011-2015 UP TO 5YRS 0 0 0 0 0 0
2006-2010 UP TO 10YRS 0 0 0 0 0 0
2001-2005 UP TO 15YRS 0 0 0 0 0 0
1996-2000 UP TO 20YRS 0 0 0 0 0 0
1986-1995 UP TO 30YRS 0 0 0 0 0 0
0 0 0 0 0 0
3-6
MONTHS
6-12
MONTHS
12-24
M0NTHS
24-36
M0NTHS
>36
MONTHS
>=2016 N/B 0 0 0 0 0 0
2011-2015 UP TO 5YRS 0 0 0 0 0 0
2006-2010 UP TO 10YRS 1 1 0 0 0 0
2001-2005 UP TO 15YRS 0 0 0 0 0 0
1996-2000 UP TO 20YRS 0 0 0 0 0 0
1986-1995 UP TO 30YRS 0 0 0 0 0 0
1 1 0 0 0 0
3-6
MONTHS
6-12
MONTHS
12-24
M0NTHS
24-36
M0NTHS
>36
MONTHS
>=2016 N/B 0 0 0 0 0 0
2011-2015 UP TO 5YRS 1 1 0 0 0 0
2006-2010 UP TO 10YRS 2 2 0 0 0 0
2001-2005 UP TO 15YRS 0 0 0 0 0 0
1996-2000 UP TO 20YRS 0 0 0 0 0 0
1986-1995 UP TO 30YRS 0 0 0 0 0 0
3 3 0 0 0 0
SUPRAMAX (50,000-59,999 DWT) - FIXTURES PER VESSEL'S AGE
BUILT VESSEL'S AGE
FIXTURES
NO.
FIXTURE PERIOD
TOTAL
HANDYMAX (38,000-49,999 DWT) - FIXTURES PER VESSEL'S AGE
BUILT VESSEL'S AGE
FIXTURES
NO.
FIXTURE PERIOD
TOTAL
TOTAL
HANDYSIZE (22,000-37,9999 DWT) - FIXTURES PER VESSEL'S AGE
BUILT VESSEL'S AGE
FIXTURES
NO.
FIXTURE PERIOD
TOTAL BULK CARRIERS FIXTURE ACTIVITY
N/B UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS UP TO 30YRS
>=2017 2012-2016 2007-2011 2002-2006 1997-2001 1987-1996
CAPESIZE 0 3 4 1 0 0 8 11 -27%
POST PANAMAX 0 0 0 0 0 0 0 0 -
KAMSARMAX 0 0 3 0 0 0 3 3 0%
PANAMAX 0 1 0 4 1 0 6 7 -14%
SUPRAMAX 0 0 0 0 0 0 0 2 -100%
HANDYMAX 0 0 1 0 0 0 1 0 0%
HANDYSIZE 0 1 2 0 0 0 3 0 -
TOTAL 0 5 10 5 1 0 21 23 -9%
PERIOD MARKET - TOTAL BULK CARRIERS FIXTURE ACTIVITY,MARCH 2019 Previous Month
TOTAL Units % m-o-m
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 8 MONTHLY MARKET REPORT
FREIGHT MARKET PERFORMANCE DRY MARKET-BALTIC DRY INDICES-CHARTS
BALTIC DRY INDEX / BALTIC CAPESIZE / BALTIC PANAMAX INDEX / BALTIC SUPRAMAX / BALTIC HANDYSIZE INDEX
BDI & TC AVERAGE EARNINGS – CAPESIZE / PANAMAX / SUPRAMAX / HANDYSIZE
GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2019
Page 9 MONTHLY MARKET REPORT
FREIGHT MARKET PERFORMANCE TANKER MARKET-BALTIC INDICES-CHARTS
BALTIC TANKER INDICES – (BALTIC CLEAN AND BALTIC DIRTY)
Summary of Baltic Indices & Average Time Charter Earnings
Dry Current Previous Change % m-o-m Mar-18 Change % y-o-y Low High
BDI 680 1,125 -444 -39% 1,152 -472 -41% 645 730
BCI 300 1,640 -1,339 -82% 1,309 -1,009 -77% 150 520
BPI 946 1,344 -399 -30% 1,576 -630 -40% 823 1,102
BSI 797 862 -65 -8% 1,065 -268 -25% 759 833
BHSI 436 531 -95 -18% 621 -185 -30% 393 467
Wet Current Previous Change % m-o-m Mar-18 Change % y-o-y Low High
Dirty-BDTI 719 648 71 11% 651 68 10% 648 774
Clean-BCTI 629 621 8 1% 571 58 10% 575 744
Average T/C routes Current Previous Change % m-o-m Mar-18 Change % y-o-y Low High
Capesize 4,662 12,846 -8,184 -64% 10,373 -5,711 -55% 3,763 6,387
Panamax 7,599 10,782 -3,183 -30% 12,642 -5,043 -40% 6,627 8,813
Supramax 8,863 9,787 -924 -9% 11,797 -2,934 -25% 8,434 9,298
Handy 6,416 7,761 -1,345 -17% 9,130 -2,714 -30% 5,728 6,927
Mar-19
Mar-19
Mar-19