MONTHLY REPORT Baltic Dry Index · navios felicity 73867 1997 japan gless 4.9 mio undisclosed...

ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula , Athens, Greece

Tel: 210 9659700 - Fax: 210 8996040

Internet Mail: athenian(at)atheniansa(dot)gr

www.atheniansa.gr

October 2018

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

0

500

1000

1500

2000

2500

Oct

-13

De

c-1

3

Feb

-14

Ap

r-1

4

Jun

-14

Au

g-1

4

Oct

-14

De

c-1

4

Feb

-15

Ap

r-1

5

Jun

-15

Au

g-1

5

Oct

-15

De

c-1

5

Feb

-16

Ap

r-1

6

Jun

-16

Au

g-1

6

Oct

-16

De

c-1

6

Feb

-17

Ap

r-1

7

Jun

-17

Au

g-1

7

Oct

-17

De

c-1

7

Feb

-18

Ap

r-1

8

Jun

-18

Au

g-1

8

Oct

-18

Baltic Dry Index

PRICES TANKERS ($ MIO)

* Prices reflect Year’s End 2012* 2013* 2014* 2015* 2016* 2017* Oct-18

VLCC 5Y 56.0 55.8 77.1 80 60 64 66

VLCC 10Y 35.0 35.0 52.1 55 40 41 42

SUEZMAX 5Y 40.2 39.5 56.8 60 40 43.5 44

AFRAMAX 5Y 28.0 27.8 41.9 46 29 32 31.9

AFRAMAX10Y 16.3 16.3 26.8 31 18 20 19

PANAMAX5Y 24.3 24.3 33.4 35 28 29 29.8

47K 5Y 23.0 23.3 23.8 28.9 22 26.8 26.8

45K 10Y 15.5 15.7 15.2 19.6 15.5 17 14.3

45K 20Y 6.2 6.2 6.5 8.5 5.1 5.1 5.5

PRICES BULKERS ($ MIO)

* Prices reflect Year’s End 2012* 2013* 2014* 2015* 2016* 2017* Oct-18

CAPESIZE 5Y 32.0 43.9 39.5 25 24 33 36

CAPESIZE 10Y 20.5 31.0 27.8 13.6 15 20.5 25.1

CAPESIZE 15Y 12.7 18.2 16.3 8.5 8 13 15.2

CAPESIZE 20Y 9.3 10.1 9.0 5.6 5.5 7 9

KAMSARMAX 5Y 18.0 25.6 20.1 14 14 22.5 23.3

PANAMAX 10Y 12.5 17.9 14.6 8.5 8.5 14.5 15.7

PANAMAX 15Y 8.3 12.0 10.0 5 5.4 11 10.1

PANAMAX 20Y 5.4 7.5 5.4 3.6 3.6 6.5 6.5

SUPRAMAX 5Y 23.3 24.3 20.8 13.6 14 17.5 18.1

SUPRAMAX 10Y 13.0 17.4 13.8 8 9.5 13.5 14.2

HANDYMAX15Y 8.7 10.9 9.1 4.5 5.8 9.5 9.2

HANDYMAX20Y 6.3 6.4 6.2 3.5 2.8 6.5 6.2

www.atheniansa.gr ATHENIAN SHIPBROKERS S.A.

2

♦Prior 2017 76-78k dwt

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 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Total

BULK 63 43 43 35 27 64 275

TANK 38 19 26 15 20 22 140

GAS 2 1 11 2 1 1 18

CONT 11 26 6 3 3 12 61

TWEEN/MPP 0 4 4 0 0 2 10

REEF 0 0 0 0 0 0 0

RORO 0 0 0 0 0 0 0

FERRY 1 0 0 0 0 0 1

CRUISE 0 0 2 0 0 0 2

Total 115 93 92 55 51 101 507

358

64

320

27

0

100

200

300

400

THIS MONTH - PREVIOUS MONTH

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

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

199

22

180

20

0

100

200

300

THIS MONTH - PREVIOUS MONTH

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

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES


4

TANKER SALES

NAME DWT BLT PRICE $ BUYER

ANGEL SUN 4999 2006 CHINA DH 2.1 MIO SINGAPOREAN (At auction)

GALATEA 7413 2011 CHINA DH 6.5 MIO US BASED (Epoxy)

GLOBAL MERCURY 12693 2007 JAPAN DH 10.25 MIO UNDISCLOSED (StSt)

BERG 16870 2008 CHINA DH 7.5 MIO INDONESIAN(Phenolic epoxy)

ARDMORE DAUNTLESS 37000 2015 KOREA DH 25.5 MIO ENBLOC BSS▼

ARDMORE DEFENDER 37000 2015 KOREA DH 25.5 MIO OCEAN YIELD (Price each)

PEARL EXPRESS 45727 2004 JAPAN DH 9.5 MIO MIDDLE EASTERN (Epoxy)

CHALLENGE PREMIER 45897 2005 JAPAN DH 12.75 MIO UNDISCLOSED (3 years bbhp)

PACIFIC VEGA 45951 2010 JAPAN DH 16.35 MIO UNDISCLOSED

HIGH ENTERPRISE 45967 2009 JAPAN DH 13.75 MIO TRANSOCEAN (Epoxy)

MILA 46013 2003 JAPAN DH 7 MIO US BASED (Epoxy)

DENSA CROCODILE 105171 2015 KOREA DH 33 MIO ENBLOC BSS▼

DENSA ALLIGATOR 105171 2015 KOREA DH 28.5 MIO GREEK

CSK SHELTON 106029 2005 KOREA DH 13.4 MIO GREEK

BRITISH KESTREL 113553 2006 KOREA DH 14.3 MIO ENBLOC BSS▼

BRITISH FALCON 113553 2006 KOREA DH 14.3 MIO ENBLOC BSS▼

BRITISH EAGLE 113553 2006 KOREA DH 14.3 MIO GREEK (Price each)

AMORE MIO II 159885 2001 KOREA DH 11.5 MIO INDONESIAN

DS VISION 297345 2011 CHINA DH 56 MIO ENBLOC BSS▼

DS VENTURE 297345 2011 CHINA DH 56 MIO CHINESE (Price each)

FRONT ARIAKE 298530 2001 JAPAN DH 20.7 MIO UNDISCLOSED (For conversion)

ASTRO CHORUS 305704 2001 KOREA DH 21.5 MIO CHINESE (For conversion)

721

519

594

350

450

550

650

750

850

44 47 50 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43

WEEK NO

Baltic Clean Tanker - Yearly

20182017

825759

1112

450

650

850

1050

1250

44 47 50 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43

WEEK NO

Baltic Dirty Tanker - Yearly

20182017

596598

569

500

520

540

560

580

600

620

01/10/2018 08/10/2018 15/10/2018 22/10/2018 29/10/2018

Baltic Clean Tanker - Monthly

853

947

1141

650

750

850

950

1050

1150

1250

01/10/2018 08/10/2018 15/10/2018 22/10/2018 29/10/2018

Baltic Dirty Tanker - Monthly


5

GAS SALES

NAME DWT BLT CBM PRICE $ BUYER

GAS TAURUS 49999 2001 JAPAN 77342 20 MIO GREEK

41150

29700

33500

0

10000

20000

30000

40000

50000

Oct-17 Dec-17 Feb-18 Apr-18 Jun-18 Aug-18 Oct-18

$/D

ay

Spot Market - Tankers

VLCC

SUEZMAX

AFRAMAX

27250

17750

16200

10000

15000

20000

25000

30000


$/D

ay

Period Market - Tankers 1 Year T/C

VLCC

SUEZMAX

AFRAMAX


6

BULKER SALES

NAME DWT BLT GEAR PRICE $ BUYER

GLORY HARVEST 6940 2000 JAPAN

CR1X30,

D2X25 2 MIO UNDISCLOSED

WOOYANG ACE 7351 2008 CHINA

D2X30,

D2X25 2.7 MIO CHINESE

LE SHENG 22271 1998 CHINA

CR 1X 40,

CR 2X15 4.2 MIO ENBLOC BSS▼

LE TAI 22318 1999 CHINA

CR 1X 40,

CR 2X15 4.2 MIO CHINESE (Price each)

STAR LIFE 28210 2011 JAPAN CR 4X30.7 11.1 MIO UNDISCLOSED

GLORIA HAYNE 28392 1996 JAPAN CR 4X30.5 4.2 MIO UNDISCLOSED

VOULA SEAS 28495 2002 JAPAN CR 4X30 6.5 MIO UNDISCLOSED

BALTIC SPIRE 28545 1997 JAPAN CR 4X30.5 5 MIO UNDISCLOSED

SIDER BOSTON 29084 2011 CHINA CR 4X30 10 MIO GREEK

GOLDEN KIKU 29700 2005 JAPAN CR 4X30.5 7.5 MIO FAR EASTERN

LA LOUISE 31764 1998 JAPAN CR 4X30.5 5.9 MIO UNDISCLOSED (Surveys freshly

passed)

GREEENFINCH 32298 2010 JAPAN CR 4X30.5 11.8 MIO MIDDLE EASTERN

IVS KANDA 32261 2004 JAPAN CR 4X30.5 8.75 MIO EUROPEAN

SPLENDEUR 33440 2008 JAPAN CR 4X30.5 11 MIO UNDISCLOSED

SKELT 34529 2010 KOREA CR 4X35 12.9 MIO TUFTON OCEANIC

APOSTOLOS II 34699 2003 CHINA CR 4X30 7.25 MIO GREEK (Surveys freshly passed)

OCEAN WEALTH 38243 2012 JAPAN CR 4X30.5 15 MIO ORIENT SHIPPING

GENCO MUSE 48913 2001 JAPAN CR 4X30 6.7 MIO CHINESE

FROGNAL 52544 2005 PHILIPPINES CR 4X30 10.5 MIO GREEK

NIKKEI DRAGON 52950 2009 JAPAN CR 4X30 13 MIO GREEK

630

661

675

550

600

650

700

750

01/10/2018 10/10/2018 19/10/2018 28/10/2018

Baltic Handysize

1192

1192

1087

1000

1050

1100

1150

1200

1250

01/10/2018 10/10/2018 19/10/2018 28/10/2018

Baltic Supramax

1679

1793

1556

1400

1500

1600

1700

1800

1900

01/10/2018 10/10/2018 19/10/2018 28/10/2018

Baltic Panamax

2199

1961

2353

2607

1700

1900

2100

2300

2500

2700

01/10/2018 10/10/2018 19/10/2018 28/10/2018

Baltic Capesize


7

BULK ZAMBESI 53776 2011 CHINA CR 5X40 * ENBLOC BSS▼

BULK LIMPOPO 53776 2012 CHINA CR 5X40 50 MIO INDONESIAN (Ttl price)

INDIGO EVOLUTION 55625 2010 JAPAN CR 4X30 15.5 MIO GREEK

MILLWALL 55648 2011 VIETNAM CR 4X30 11.7 MIO UNDISCLOSED

PETERBOROUGH 55783 2009 VIETNAM CR 4X30 10.5 MIO UNDISCLOSED

IVY UNICORN 55874 2011 JAPAN CR 4X35 16.25 MIO GREEK

BULK AVANTI 56024 2006 JAPAN CR 4X30 12.5 MIO UNDISCLOSED

TRITON SEAGULL 56058 2007 JAPAN CR 4X30 13.6 MIO GREEK

GRAND PIONEER 56645 2011 CHINA CR 4X36 11 MIO ENBLOC BSS▼

GRAND BREAKER 56651 2011 CHINA CR 4X35 12 MIO UNDISCLOSED

SHROPSHIRE 56812 2009 CHINA CR 4X36 9.3 MIO DUTCH

GLADIATORSHIP 56819 2010 CHINA CR 4X30 * ENBLOC BSS▼

GUARDIANSHIP 56884 2011 CHINA CR 4X30 23 MIO CHINESE (Ttl price)

QUEEN HALO 58096 2010 PHILIPPINES CR 4X30 15.25 MIO UNDISCLOSED

MEDI FIRENZE 58722 2008 PHILIPPINES CR 4X30 13.8 MIO INDONESIAN

SBI HERMES 61272 2016 JAPAN CR 4X30.7 20.5 MIO UNDISCLOSED (BBB)

SAGE BAYLORCOM 63500 2015 CHINA CR 4X35 22.9 MIO GREEK

DRAGONGATE 63503 2016 JAPAN CR 4X30.7 26.8 MIO GREEK

SERENA R 63997 2016 CHINA CR 4X30 29 MIO GREEK (BBHP)

OCEAN PANKAJ 64000 2018 CHINA CR 4X30 24.1 MIO GREEK

NEW HERALD 72875 1997 KOREA GLESS 5 MIO CHINESE

CELERINA 73035 1999 CHINA GLESS 5.5 MIO CHINESE (DD due 12/2018)

IOANNIS ZAFIRAKIS 73305 2004 JAPAN GLESS 10.2 MIO GREEK

NAVIOS FELICITY 73867 1997 JAPAN GLESS 4.9 MIO UNDISCLOSED

ANGELIC GRACE 74750 2001 CHINA GLESS 5.5 MIO GREEK (At auction)

EISHO 74930 2012 JAPAN GLESS 18.7 MIO GREEK

STAR OF NIPPON 75611 2004 JAPAN GLESS 9.8 MIO UNDISCLOSED (SS due)

HAI JING 75928 2001 JAPAN GLESS 7.62 MIO CHINESE (At auction)

AOM MILENA 76606 2009 JAPAN GLESS 16 MIO UNDISCLOSED (Surveys due 06/19)

DOUBLE

PROSPERITY 76633 2005 JAPAN GLESS 10.6 MIO UAE

YONGJI 77672 2000 JAPAN GLESS 8 MIO UNDISCLOSED

ENERGY MIDAS 77697 1998 JAPAN GLESS 6.85 MIO CHINESE

JAG ARYA 80480 2011 KOREA GLESS 18.75 MIO GREEK (DD due 03/2019)

DAEBO NEWCASTLE 81398 2011 KOREA GLESS 19 MIO UNDISCLOSED (DD due 05/2019)

SKY JADE 81487 2010 JAPAN GLESS 19 MIO CHINESE

RICH WAVE 81788 2017 JAPAN GLESS 29.8 MIO UK BASED (Eco+BWTS fitted)

GLOBAL STAR 83601 2010 JAPAN GLESS 18.9 MIO UNDISCLOSED

SCOTIAN EXPRESS 93019 2011 CHINA GLESS 16.5 MIO UNDISCLOSED

SCANDINAVIAN

EXPRESS 93038 2010 CHINA GLESS 15.5 MIO GREEK

SC LOTTA 169057 2009 KOREA GLESS 20.75 MIO GREEK (SS/DD due 02/2019)

LOWLANDS

LONGEVITY 173018 2001 KOREA GLESS 11.5 MIO KOREAN

PACIFIC EXPLORER 177456 2007 JAPAN GLESS 21 MIO UNDISCLOSED

NEW DALIAN 180371 2010 CHINA GLESS 27 MIO GREEK

BULK ASIA 181380 2014 JAPAN GLESS 40.5 MIO SINGAPOREAN (BWTS fitted)


8

CONTAINER SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

FRISIA ALLER 13720 2007 CHINA CR 2X45 1118 6.1 MIO ENBLOC BSS▼

FRISIA ILLER 13720 2007 CHINA CR 2X45 1118 6.1 MIO ENBLOC BSS▼

FRISIA INN 13720 2008 CHINA CR 2X45 1118 6.1 MIO ENBLOC BSS▼

FRISIA ALSTER 13720 2007 CHINA CR 2X45 1118 6.1 MIO GREEK (Price each)

NORFOLK TRADER 35414 2002 ROMANIA CR 3X45 2496 7.8 MIO NORWEGIAN

KOTA GAYA 38887 2012 KOREA GLESS 2824 * ENBLOC BSS▼

KOTA GABUNG 38887 2013 KOREA GLESS 2824 * ENBLOC BSS▼

KOTA KARIM 39763 2006 JAPAN GLESS 3081 * ENBLOC BSS▼

KOTA LAWA 50638 2008 CHINA GLESS 4250 * ENBLOC BSS▼

KOTA LIHAT 51822 2013 CHINA GLESS 4335 88.9 MIO MINSHENG FL (Ttl price. Incl

T/C)

MAERSK EUREKA 140973 2012 KOREA GLESS 13092 * ENBLOC BSS▼

MAERSK EDIRNE 140973 2012 KOREA GLESS 13092 92 MIO JAPANESE (Ttl price)

17900

14500

10300

0

5000

10000

15000

20000

25000

30000


$/D

ay

Spot Market - BulkersCAPESIZE

PANAMAX

HANDYMAX

21000

13200

13300

4100

6100

8100

10100

12100

14100

16100

18100

20100

22100


$/D

ay

Period Market - Bulkers 1 Year T/CCAPESIZE

PANAMAX

SUPRAMAX


9

MPP/TWEEN SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

UNIRICH 8660 1994 JAPAN D 2X30,D 2X25 1.4 MIO FAR EASTERN

YANGTZE

INNOVATION 30537 2002 CHINA CR 2X100, CR 2X50 1842 5.8 MIO CHINESE

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

Ship Type 2018 2019 2020+ Total

Capesize 18 80 94 192

Kamsarmax 22 122 74 218

Supra/Hmax 31 93 72 196

Handies 27 79 35 141

Total 98 374 275 747


ULCC/VLCC 12 62 32 106

Suezmax 7 23 18 48

Aframax 16 53 37 106

Panamax 5 13 14 32

MR+Small 57 123 59 239

Total 97 274 160 531


VLGC 3 16 21 40

LGC 0 0 0 0

MR 1 6 2 9

Handy 2 4 4 10

Small 2 3 3 8

Total 8 29 30 67

92.3

60.1

47.8

35.9

20

40

60

80

100

Oct-16 Feb-17 Jun-17 Oct-17 Feb-18 Jun-18 Oct-18

$m

Tanker Prices VLCC Suezmax

Aframax MR

49.5

27.8

25.7

23.9

10

15

20

25

30

35

40

45

50

55

Oct-16 Feb-17 Jun-17 Oct-17 Feb-18 Jun-18 Oct-18

$m

Bulker Prices Capesize Kamsarmax

Supramax Handysize


10

79

250

151

47

248

199

80 104

163

0

100

200

300

2016 2017 Oct-18

No

. o

f V

es

se

ls

Newbuilding Sales Tankers

Bulkers

Containerships

9.9

34.1

36.9

10.8

34.9

21.9

0

5

10

15

20

25

30

35

40

Oct-18 2019 2020+

m. d

wt

Delivery Schedule Bulkers

Tankers

23.6

5.2

12.3

2.1

7.7

0

5

10

15

20

25

October 2018

m.

dw

t

Tanker Newbuildings on Order VLCC Suezmax

Aframax Panamax

Products 46.4

18.1

11.7

3.3

0

5

10

15

20

25

30

35

40

45

50

October 2018

m. d

wt

Bulker Newbuildings on Order CapesizeKamsarmaxSupramaxHandysize

Newbuilding Historical Prices ($m)

Tankers Oct-18 2017 2016 2015 2014 2013 2012 2010 2008 2005 2000 1995 1990 1985

320,000 DWT1 92.3 81.5 84.5 93.7 97.3 93.8 93.2 104.8 150 120 76.5 85.3 87.4

2 38.2

170,000 DWT1 60.1 55 54.5 63 65.5 59.6 57.1 66.3 90 71.5 52.5 54 66.1

2 28.2

115,000 DWT1 47.8 44 44.5 52 53.6 52.2 48.5 56 74 58 41.5 43.3 53.2

2 18.1

50,000 DWT1 35.9 33.8 32.5 35.4 36.8 34.6 33.8 36.1 46.5 43 29.5 33.2

3 32.1

3 13.3

Bulkers

185,000 DWT1 49.5 44 42 46 54.2 53.6 45.7 57.2 87 58.5 40.5 42.3 60.2 29.3

83,000 DWT1 ♦

27.8 25.5 24.5 25.7 29 27.8 25.6 34.3 45.5 36 22.5 27.9 30 13.4

64,000 DWT♦ 25.7 24 22.3 24.1 27.2 26.5 23.7 31.1 41 31 20.5 24.1 25.3 12.4

35,000 DWT♦ 23.9 22 19.5 20.3 22.8 22.2 20.5 26.3 31 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)


11

The Shipbuilding Market

TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES

Bulk 63500 Nantong Xiangyu 2020 Doun Kisen

Bulk 63500 Nantong Xiangyu 2020 Doun Kisen

Bulk 186000 Shanghai Waigaoqiao 2020 Santoku Shipping

Bulk 186000 Shanghai Waigaoqiao 2020 Santoku Shipping

Bulk 63500 Yangzhou Dayang SB 2019 AVIC Leasing




Bulk 120000 Huangpu Wenchong 2020 CSSC Shpg Leasing

Bulk 120000 Huangpu Wenchong 2020 CSSC Shpg Leasing

Chem & Oil 17500 Taizhou Kouan SB 2020 Stenersen AS

Chem & Oil 17500 Taizhou Kouan SB 2020 Stenersen AS

Container 165000 Hyundai HI (Ulsan) 2021 121.60 mio HMM








Container 210000 Daewoo (DSME) 2020 155.40 mio HMM







Container 210000 Samsung HI 2020 154.60 mio HMM





Geo. Survey Huangpu Wenchong 2021 Rmb 287.18 mio SCSIO

L.N.G 96000 Samsung HI 2021 185.40 mio Unknown

L.N.G. 7000 Keppel Nantong 2020 Avenir LNG

L.N.G. 7000 Keppel Nantong 2020 Avenir LNG

L.N.G. 81512 Hyundai HI (Ulsan) 2021 Thenamaris LNG

Bunkering 3300 Damen Yichang 2020 Infortar LNG

Bunkering 7500 Dalian Shipbuilding 2020 Xinao Energy

Pass/Car Cat Armon (Gijon) 2020 Eur 90 mio Balearia

Ro-Ro 12000 Yantai CIMC Raffles 2020 Rmb 207.02 mio Bohai Ferry Leasing

Ro-Ro 12000 Yantai CIMC Raffles 2020 Rmb 207.02 mio Bohai Ferry Leasing

Ro-Ro 12000 Yantai CIMC Raffles 2021 Rmb 207.02 mio Bohai Ferry Leasing Option

Ro-Ro 12000 Yantai CIMC Raffles 2021 Rmb 207.02 mio Bohai Ferry Leasing Option

Ro-Ro 15000 Huangpu Wenchong 2020 CG Railway Inc

Tanker 158000 Daehan Shipbuilding 2020 Faerder Tankers

Tanker 158000 Daehan Shipbuilding 2020 Faerder Tankers

Tanker 158000 Daehan Shipbuilding 2020 Faerder Tankers Option


12

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

445 450 455 450440 440 430 430 435

450

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* 2015 2016

2017 2018

*India month's end prices

425 435 440 430 430 430410 415 425 440

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*2015 2016

2017 2018

*India month's end prices

25.6

14.5

4.9 2.354.6 3.8

15.916.7

18.915.5

1815.6

25

30.5

22.4

28.4 28.5 27

10 5.56.5 5

12

28.925.7

31.58

50.3

41.8

34.3

38.844.6

35.2

27.9

0

10

20

30

40

50

60

Mil

lio

n d

wt

Total Demolition (Dwt)

* Bss reported sales

Demolition Prices

Gen Cargo Tanker

India USD 440 /lt Ldt USD 450 /lt Ldt

Bangladesh USD 445 /lt Ldt USD 460 /lt Ldt

Pakistan USD 440 /lt Ldt USD 450 /lt Ldt

China USD 160 /lt Ldt USD 170 /lt Ldt


13

HISTORICAL DEMOLITION PRICES (*Indian Year’s End)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 CURR.

TANK 174 135 174 262 362 302 405 507 287 338 485 482 405 435 425 300 300 440 450

BULK 170 135 181 267 381 332 392 472 268 328 437 456 375 410 400 285 280 425 440

India

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK GEMINI LEADER 14930 1994 14886 441 Green recycling

CONT ISLAND CHIEF 13387 1990 5889 448 Green recycling

CONT COUGAR 22210 1992 7300 450

CONT MSC KORONI 48244 1998 15864 502 Prompt delivery with 60T propeller

CONT APL PHILIPPINES 66696 1996 24072 471

GAS CARMEN 49242 1993 17712 430 As is Khor Fakkan

TANK SPERO 107160 1998 16717 417 As is Singapore, 120T Sludges

Bangladesh


BULK ISA WINTER 12349 1985 2878 398

BULK KYRIAKOS 29926 1997 7244 428 As is Mongla,undertow

CONT MALACCA STAR 20150 1993 7050 450 As is Singapore

CONT CAMILLA 23045 1996 7771 460 As is Singapore

CONT OEL LANKA 23062 1997 7773 480

CONT KYAUK PHYU STAR 24497 1992 7675 450 As is Singapore

CONT VASI SUN 26288 1990 7400 470

CONT HYUNDAI GLORY 63404 2004 21253 456 As is Busan, 350T bunkers

TANK OAKTREE 46842 1993 9002 460 As is Colombo, 200T bunkers

TANK MELOR 114106 1996 19456 470 As is Singapore,700T bunkers, gas

free for man entry

China


N/A N/A N/A

0

100

200

300

400

500

600

US

D/t

on

Historical Demolition Prices (India Year's End)

TANKERS

BULKERS

Avg. Trend


14

Pakistan


BULK SOLAR ARION 128826 1994 18233 467

BULK SOLAR EMBER 171081 1997 19950 467

TANK NEW HORIZON 105575 1997 16899 455 As is Khor Fakkan

Turkey


N/A N/A N/A

Other


BULK YOSSA BHUM 15414 1994 4965 440

BULK ANDAMAN STAR 20211 1993 6989 450 As is Singapore

CONT SINAR BELAWAN 15428 1994 4965 440 As is Singapore

CONT SENTOSA STAR 17781 1996 5948 450 As is Singapore

CONT THANLWIN STAR 20406 1995 6830 450 As is Singapore

CONT PATHEIN STAR 20540 1993 6660 450 As is Singapore

CONT ATLANTIC STAR 26260 1997 7626 450 As is Singapore

GAS YOSU GAS 3782 1990 2364 330 As is Korea

GAS NUSA BINTANG 16225 1992 6993 435 As is Singapore,green recycling

RORO KITAKAMI 6748 1989 - 355 As is Japan,delivery 01/2019

TANK SUNG HAE 11816 1995 2850 330 As is Busan

TANK EAGLE BEAUMONT 99448 1996 16700 460 As is Singapore (fully gas free)

TANK ARMADA ULYSSES 310137 1999 40712 400 As is Singapore,green recycling,rob

1600t sludge


15

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

31-Oct-18 450 660 492.5 775 449 735

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

19

94

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

Oct

-18

US

D/t

on

Bunkers Cost (MGO)

Rotterdam

Fujairah

Houston

Average Trend


16

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 0.597373 0.890726 0.06949 0.781382 0.783877 0.556097

CAD 1.673469 1 1.490791 0.01163 1.307793 1.312021 0.930772

EUR 1.122435 0.670609 1 0.007801 0.877184 0.879979 0.624316

JPY 143.88193 85.96285 128.17622 1 112.44156 112.80114 80.02737

CHF 1.279425 0.764401 1.139793 0.008891 1 1.003054 0.711584

USD 1.275489 0.762074 1.136255 0.008864 0.996777 1 0.709418

AUD 1.797592 1.074019 1.601478 0.012493 1.404793 1.409336 1 * 30/10/2018 values

60

70

80

90

100

110

120

130

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


17

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 2.64 2.78 -5 3.60 2.62

Diana Shipping Inc. DSX 3.70 3.94 -6.1 5.16 3.07

Dryships Inc. DRYS 5.50 5.86 -6.1 6.90 2.74

Dynagas LNG Partners LP DLNG 8.12 8.49 -4.4 13.97 7.51

Eagle Bulk Shipping Inc. EGLE 4.82 5.66 -14.8 6.14 4.18

Euroseas Ltd. ESEA 1.74 1.29 34.9 3.87 1.08

Costamare Inc. CMRE 5.18 6.86 -24.5 8.39 5.06

Navios Maritime Holdings NM 0.52 0.72 -27.8 1.86 0.46

GasLog Ltd. GLOG 20.47 19.72 3.8 22.55 15.75

Safe Bulkers Inc. SB 2.50 2.83 -11.7 4.00 2.31

Star Bulk Carriers Corp. SBLK 11.57 13.73 -15.7 15.38 8.62

Stealthgas Inc. GASS 3.26 3.47 -6.1 4.70 3.25

TEN Inc. TNP 3.28 3.31 -0.9 4.64 3.00

TOP Ships Inc. TOPS 1.87 1.18 58.5 35.50 0.69

Diana Containerships Inc. DCIX 2.04 1.24 64.5 28.48 1.01

Danaos Corporation DAC 1.02 1.20 -15 2.50 1.01

Aegean Marine Petroleum ANW 0.92 1.42 -35.2 5.10 0.60 * 30/10/2018 closing values

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

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,

ATHENIAN SHIPBROKERS S.A.

Date post:	10-Nov-2018
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