www.cotzias.gr – visit our constantly updated website AUGUST 2009 Ship sale volume: Aug-09 Jul-09 88 130 last month 72 108 last month 16 22 last month Scrap volume: 125 84 last month $720/ldt INDIA Newbuilding Ships Prices (31/8/2009) (in mil USD) Dry Cargo CAPE 2/1/2009 PMX 2/1/2009 HMAX 2/1/2009 NEWBUILDING $65.0 $50.0 $39.0 $35.0 $32.0 $27.0 Tanker Ships VLCC 2/1/2009 SUZ 2/1/2009 AFR 2/1/2009 NEWBUILDING $110.0 $114.0 $71.5 $91.0 $50.5 $74.0 PAN 2/1/2009 PROD 2/1/2009 $45.2 $60.0 $38.0 $51.0 Average Dry cargo T/C Earnings (worldwide routes): Aug-09 Jul-09 Jun-09 May-09 $41,528 $56,800 $71,154 $39,066 Large Bulkers 144,000 – 85,000 dwt: $24,583 $36,444 $22,375 $18,287 Panamax 82,000 – 59,000 dwt: $20,055 $23,849 $24,219 $17,270 Handymax 59,000 – 48,000 dwt: $20,866 $21,819 $19,477 $16,847 Handy 48,000 – 40,000 dwt: $15,217 $18,274 $16,735 $14,770 Bulkers 40,000 – 30,000 dwt: $15,594 $13,705 $12,581 $13,074 Small Bulkers 30,000 – 12,000 dwt: $12,088 $11,400 $13,007 $11,773 Scrap Prices for AUGUST 2009 CHINA HIGH $314 AVERAGE $268 AUG 2009 AVERAGE $287 INDIA HIGH $720 AVERAGE $301 JUL 2009 AVERAGE $250 BANGLADESH HIGH $370 AVERAGE $300 JUN 2009 AVERAGE $251 PAKISTAN HIGH $310 AVERAGE $273 MAY 2009 AVERAGE $232 TURKEY HIGH $188 AVERAGE $179 APR 2009 AVERAGE $262 275.99 BALTIC INDICES % since 31-Aug-09 change since LAST MONTH 31-Jul-09 30-Jun-09 29-May-09 2421 -27.73% 3350 3757 3494 2157 -32.23% 3183 2904 2900 1740 -16.39% 2081 1701 1831 3946 -26.72% 5385 7241 6125 433 -6.88% 465 465 481 500 5.49% 474 648 482 COMMENTS: Executive Summary Dry cargo Ships sold this month: Total number of Ships sold this month: Wet cargo Ships sold this month: Ships scrapped this month: Baltic Cape Index Highest Scrap Price paid this month: Capes >144,000 dwt: Baltic Dry Index Baltic Panamax Index Baltic Supramax Index GENERAL SCRAP PRICE AVERAGE Baltic Clean Tanker Index Baltic Dirty Tanker Index 8 months have been concluded in a year that we all feared and believed that nothing would really be as we had been accustomed nor a market that we would all feel familiar with. A market that from day 1 of 2009, saw the immediate results of plumented ships prices, the fact that "Money was too tight to mention" and available Ship Finance being solely cash in owners pockets while any bank equity was and still is just a scarce and precious commodity. However and despite all the pessimists and "Cassandra's" in our industry the Sale and Purchase market survived and has performed a great number of deals. 883 deals have been perfromed so far in 2009, 689 dry bulk deals & 194 tanker&gas deals. The Newbuilding market is holding back many units on order have been delayed a few cancelled and only this month it has really given us the first Cape Dry Bulk New Order at a price that shows that what was seling for $110mil one year ago, can be contracted for $55-$62mil today. Greeks have lost their top of the pops, drivers seat, and have given long time now way to the Chinese who are coming very strong as the new dominant buyer Nation. 192 units in both wet and Dry sectors have been snatched by Chinese buyers while Greeks are following with 162 units. Greeks have outperformed quite impressively the Chinese in terms of capital outlay as $3.2billion USD has been spent by our fellow countrymen with Chinese having much less approx $2.38billion being spent. In terms of dwt carrying capacity Chinese have added 11.9million tonnes of tonnage (wet+dry) while Greeks have added somewhat less at 9million tonnes. AUGUST 2009 S&P MONTHLY REPORT N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 1 of 18
Transcript
www.cotzias.gr – visit our constantly updated website AUGUST 2009
Ship sale volume: Aug-09 Jul-09
88 130 last month
72 108 last month
16 22 last month
Scrap volume:
125 84 last month
$720/ldt INDIA
Newbuilding Ships Prices (31/8/2009) (in mil USD)Dry Cargo CAPE 2/1/2009 PMX 2/1/2009 HMAX 2/1/2009
Small Bulkers 30,000 – 12,000 dwt: $12,088 $11,400 $13,007 $11,773
Scrap Prices for AUGUST 2009
CHINA HIGH $314 AVERAGE $268 AUG 2009 AVERAGE $287 INDIA HIGH $720 AVERAGE $301 JUL 2009 AVERAGE $250
BANGLADESH HIGH $370 AVERAGE $300 JUN 2009 AVERAGE $251 PAKISTAN HIGH $310 AVERAGE $273 MAY 2009 AVERAGE $232
TURKEY HIGH $188 AVERAGE $179 APR 2009 AVERAGE $262 275.99BALTIC INDICES % since
31-Aug-09change since LAST MONTH 31-Jul-09 30-Jun-09 29-May-09
2421 -27.73% 3350 3757 3494
2157 -32.23% 3183 2904 2900
1740 -16.39% 2081 1701 1831
3946 -26.72% 5385 7241 6125
433 -6.88% 465 465 481
500 5.49% 474 648 482COMMENTS:
Executive Summary
Dry cargo Ships sold this month:
Total number of Ships sold this month:
Wet cargo Ships sold this month:
Ships scrapped this month:
Baltic Cape Index
Highest Scrap Price paid this month:
Capes >144,000 dwt:
Baltic Dry Index
Baltic Panamax Index
Baltic Supramax Index
GENERAL SCRAP PRICE AVERAGE
Baltic Clean Tanker Index
Baltic Dirty Tanker Index
8 months have been concluded in a year that we all feared and believed that nothing would really be as we had been accustomed nor a market that we would all feel familiar with. A market that from day 1 of 2009, saw the immediate results of plumented ships prices, the fact that "Money was too tight to mention" and available Ship Finance being solely cash in owners pockets while any bank equity was and still is just a scarce and precious commodity. However and despite all the pessimists and "Cassandra's" in our industry the Sale and Purchase market survived and has performed a great number of deals. 883 deals have been perfromed so far in 2009, 689 dry bulk deals & 194 tanker&gas deals. The Newbuilding market is holding back many units on order have been delayed a few cancelled and only this month it has really given us the first Cape Dry Bulk New Order at a price that shows that what was seling for $110mil one year ago, can be contracted for $55-$62mil today.
Greeks have lost their top of the pops, drivers seat, and have given long time now way to the Chinese who are coming very strong as the new dominant buyer Nation. 192 units in both wet and Dry sectors have been snatched by Chinese buyers while Greeks are following with 162 units. Greeks have outperformed quite impressively the Chinese in terms of capital outlay as $3.2billion USD has been spent by our fellow countrymen with Chinese having much less approx $2.38billion being spent. In terms of dwt carrying capacity Chinese have added 11.9million tonnes of tonnage (wet+dry) while Greeks have added somewhat less at 9million tonnes.
AUGUST 2009 S&P MONTHLY REPORT
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 1 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
2009
NAME TYPE YEAR BUILT DWT GEAR PRICEBUYERS
NAMEBUYERS NATION
NOTES IMO
NAVIOS ALBA RESALE1
BC 2010 KOREA 180,000 - $70.75m -
NAVIOS ALBA RESALE2
BC 2010 KOREA 180,000 - $70.75m -
ORIENTAL ANGEL BC 2009 SASEBO 179,764 - $72.00mFIVE STAR SHIPPING
CHINASELLERS ARE CIDO
SHIPPING 9402287
BRILLIANT ARC BC 2002 MITSUI CHIBA 177,463 - $53.90mCHINESE BUYERS
CHINASELLERS ARE NISSEN KAIUN CO LTD, JAPAN.
OTHER REP SAYS $53MIL9258105
FORTUNE OCEAN BC 2006 SASEBO H.I. 76,801 - $38.00m 9304576
FORTUNE PRINCESS
BC 2006 OSHIMA 76,635 - $39.00m 9343326
ORANGE TIGER BC 1998 SANOYAS 75,752 $27.25mCHINESE BUYERS
CHINA
SELLERS ARE DAISHIN SHIPPING JAPAN. OTHER REP SAYS $27 MIL USD.
DELIVERY 4TH QUARTER 2009
9178408
RICHMOND BC 1995 DENMARK 75,265 - $20.50mCHINESE BUYERS
CHINA
INCLUDING A TIME CHARTER TO GMI FOR 12-
14MOS TRADING AT $18,200 PER DAY GROSS (6.5% COMMS) - SELLERS ARE OCEANFREIGHT INC
GREECE
9085936
BULK FERN BC 1997HALLA SAMHO
73,322 $22.50mCHINESE BUYERS
CHINA
SELLERS ARE UNISEA SHIPPING LTD GREECE - DELIVERY MARCH 2010
WHEN CURRENT T/C EXPIRES - IN MAR 2008
SHE WAS PART OF A TWOVESSEL ENBLOC DEAL
9137636
HUMBER BC 1982 HYUNDAI 70,912 1466 TEU $5.80mCHINESE BUYERS
CHINA
OTHER REP SAYS $5.9MILOTHER $4.6MIL USD -
SELLERS ARE SEA PIONEER SHIPPING CORP
GREECE
8015673
GOLDEN JOY BC 1994JIANGNAN SHIPYARD
70,044 - $16.50mCHINESE BUYERS
CHINA
SHE WAS REPORTED SOLD IN NOV 2007 FOR
$62.5MIL - SELLERS ARE KLAVENESS NORWAY
9113563
MORNING CLOUD BC 1983 CHINA 66,755 - $7.00mCHINESE BUYERS
CHINASELLERS ARE ZODIAC
MARITIME AGENCIES LTD UK
8025795
VANCOUVER VICTORY
BC 1981HITACHI ZOSEN
64,236 4X25T $5.20mCHINESE BUYERS
CHINASELLERS ARE PIONEER
SHIP MANAGEMENT LLC, UAE
8010843
TSUNEISHI ZHOUSHAN1
BC 2009TSUNEISHI ZHOUSHAN
58,752 4X30T $31.50m -
TSUNEISHI ZHOUSHAN2
BC 2010TSUNEISHI ZHOUSHAN
58,752 4X30T $31.50m -
ANNA-JOHANNA BC 2009TSUNEISHI
HEAVY CEBU58,500 4X30T $34.50m
CHINESE BUYERS
CHINA
OTHER REP SAYS GREEKBUYERS - SELLLERS ARE
BLUMENTHAL JMK GERMANY
9403190
NORDEN BC 2005 MITSUI CHIBA 56,032 4X30T $32.10mGREEK
BUYERSGREECE
OTHER REP SAYS TURKISH BUYERS AT
$31MIL - SELLERS ARE NORDEN DENMARK
9332963
NORD EMPATHY BC 2006KAWASAKI
HEAVY INDUSTRY
55,803 4X30.5T $31.00m IDC TURKEY
SHE WAS REPORTED SOLD IN JAN 2009 FOR $29MIL USD - SELLERS ARE NORDEN SHIPPING
SINGAPORE
9324069
DRY CARGO SHIPS SOLD DURING THIS MONTH AUGUST
GREEK BUYERS
GREECE
SELLERS ARE CIDO SHIPPING HONG KONG, CHINA - SOLD ENBLOC FORTUNE PRINCESS,
FORTUNE OCEAN FOR $39m & $38m EACH - PREVIOUS SALE TO CHINESE BUYERS REPORTED EARLY AUGUST FAILED AT $37.5MIL EACH UNIT
ENBLOC 2 ALBA RESALESFOR DELY DEC 2010 AND OCT 2010 FOR $141.5MIL USD BOTH UNITS - BOTH
UNITS HAVE A T/C ATTACHED 1O YEARS AT
$29,356 PER DAY - CHARTS AND NAVIOS
WILL SHARE 50/50 PROFITSHARE FOR RATE IN
EXCESS OF $38,500 PER DAY
NAVIOS MARITIME
GREECE
J.J. UGLAND NORWAY
SOLD ENBLOC 2XKAMBARA KISEN JAPAN RESALES AT $31.5m EACH UNIT -
SELLERS ARE KAMBARA KISEN CO JAPAN
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 2 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
VICTORIA II BC 2009TAIZHOU JIANTIAO
55,303 4X36T $26.00mITALIAN BUYERS
ITALY
SELLERS ARE TANTO INTIM LINE, INDONESIA.
SHE HAD BEEN REPORTED SOLD ON
SUBJECTS TO TOP SHIPS IN MAY 2009 FOR THE
SAME PRICE.
9546198
PL STAR BC 2003 JAPAN 53,074 4X30T $29.50m UNICOTIN GREECE CHINESE SELLERS 9291353
DESERT SUN BC 1995DANYARD
FREDERIKSHAVN
50,492 4X25T $19.00m 9102045
DESERT DAWN BC 1995DANYARD
FREDERIKSHAVN
48,218 4X25T $19.00m 9202057
TURICUM BC 1995 OSHIMA 47,639 4X25T $16.00mGREEK
BUYERSGREECE
SELLERS ARE REEDEREI ZURICH AG,
SWITZERLAND. DELIVERYIN FEB 2010
9102344
OCEAN KING BC 2001MINAMI-NIPPON USUKI
47,314 4X30T $24.00mUNDISCLOSED
BUYERS-
SELLERS ARE YAMAMOTO KAIUN KK
JAPAN9233985
BLUE SEAS BC 1995TSUNEISHI
SHIPBUILDING 45,654 4X30T $17.60mCHINESE BUYERS
CHINA
SELLERS ARE PARAGON SHIPPING (ALLSEAS) GREECE - SHE WAS
ACQUIRED BY ALLSEAS MARINE IN SEP 2006 FOR
$29.5MIL USD
9104550
K. SILVER BC 1996 DAEWOO 43,798 4X30T $16.50mCHINESE BUYERS
CHINASELLERS ARE MARITIME
LEASING PTE LTD SINGAPORE
9125578
NOA BC 1985 TSUNEISHI 43,590 4X25T $7.25mUNDISCLOSED
BUYERS-
SELLERS ARE ZODIAC MARITIME AGENCIES UK 8317461
BAUTA BC 1987 HYUNDAI 41,756 4X25T $9.00m 8412168
BALLANGEN BC 1987 HYUNDAI 41,630 4X25T $9.00m 8419582
ADRIANOPLE BC 1984SHIN
KURUSHIMA37,753 4X25T $5.40m
UNDISCLOSED BUYERS
-
SELLERS ARE MARMARAS NAVIGATION,
GREECE. OTHER REP SAY $6m
8323666
YARE BC 1985 KURUSHIMA 37,568 4X25T $5.80mUNDISCLOSED
BUYERS-
SELLERS ARE EASTWIND SHIPMANAGEMENT PTE,
SINGAPORE. WAS REPORETED SOLD IN MAR 2008 FOR $30MIL
USD TO TURKISH BUYERS
8323678
FORTUNE SPIRIT BC 2005SHIN
KURUSHIMA33,562 4X30T $23.00m
CHINESE BUYERS
CHINASELLERS ARE CIDO
SHIPPING HONG KONG, CHINA
9300910
BRIGHT OCEAN 2 BC 1999SAIKI
JUKOGYO32,128 4X30T $17.50m
TURKISH BUYERS
TURKEY
SELLERS ARE MK SHIPMANAGEMENT
JAPAN. SHE HAD BEEN REPORTED SOLD IN
MARCH 09 AT $17m TO UNDISCLOSED BUYERS
9205952
HAKODATE RESALE 834
BC 2010HAKODATE
DOCK31,833 4X30T P&C DEAL 9427134
HAKODATE RESALE 833
BC 2010HAKODATE
DOCK31,833 4X30T P&C DEAL 9427134
YUCATAN BC 1996NAIKAI ZOSEN
30,838 4X25T $11.00m FREESEAS GREECE
REPORTED SOLD TO FREESEAS, WHO
ACCORDING TO THEIR PRESS RELEASE HAVE
ACQUIRED HER AS A DISTRESSED ASSET -
SELLERS ARE LIQUIDATORS OF
EASTWIND (MARSHALL SALE)
9146819
SOLD ENBLOC BAUTA & BALLANGEN FOR $18MIL BOTH UNITS - SELLERS
ARE KLAVENESS MARITIME LOGISTICS
NORWAY
WISDOM MARINE
CHINA
ENBLOC HAKODATE 834 AND HAKODATE 833
SOLD TO TAIWANESE BUYERS - SELLERS ARE
CIDO SHIPPING HONG KONG CHINA - HAKODATE
834 DELY JUNE 2010 - HAKODATE 833 DELY
JUNE 2010
UNDISCLOSED BUYERS
-
UNDISCLOSED BUYERS
-
SELLERS ARE ATLANTIC BULK CARRIERS GREECE
SOLD ENBLOC DESERT SUN AND DESERT DAWN
TO UNDISCLOSED BUYERS
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 3 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
KOVDOR BC 1984AUSTIN &
PICKERSGILL 30,650 4X25T $5.00mTURKISH BUYERS
TURKEY
SELLERS ARE SOBELMARSHIPPING NV, BELGIUM -
OTHER REP SAYS FAREASTERN BUYERS -
SS/DD DUE
8118126
OCEAN LOTUS BC 2004IMABARI IMABARI
28,100 4X30.5T $20.00mGREEK
BUYERSGREECE
SELLERS ARE MISUGA KAIUN CO LTD JAPAN 9312315
ISLAND TRIANGLE BC 1984 HITACHI 28,012 4X25T P&C DEALGREEK
BUYERSGREECE
SELLERS ARE ELMIRA SHIPPING AND TRADING
GREECE8312100
GULER S BC 1977HAYASHIKANE SHIPBUILDING 27,832 5X25T $2.30m
CHINESE BUYERS
CHINASELLERS ARE SARIOGLU
DENIZCILIK TURKEY 7627429
ACX DAHLIA CONT 1998KANASASHI TOYOHASHI
24,542 1675 TEU $6.20mUNDISCLOSED
BUYERS-
SELLERS ARE HOKOKU MARINE CO LTD JAPAN 9167473
OOCL ABILITY CONT 1997 JAPAN 24,336 1560 TEU $6.50mVICTORIA
OCEANWAYGREECE 9159842
SILVER LAKES MPP 1986MATHIAS-
THYSEN WERF 23,929 4X25T $4.00mUNDISCLOSED
BUYERSSELLERS ARE RAIDER
LTD, RUSSIA 8503072
OCEAN BIRD CONT 2008 CSBS 22,3142X40T 1713
TEU$20.00m 9357535
OCEAN SPICA CONT 2008 CSBS 22,3142X40T 1713
TEU$20.00m 9357547
SANA BC 1983SHIN
YAMAMOTO ZOSENSHO
21,3733X25tT D1X25T
$4.00mTURKISH BUYERS
TURKEY
SELLERS ARE SAMIN SHIPPING CYPRUS. SHE HAD BEEN REPORTED
SOLD TO HER PRESENT SELLERS AT LEVELS OF
$7m.
8301620
ANNA E CONT 1992 GERMANY 20,2703X40T 1399
TEUP&C DEAL
UNDISCLOSED BUYERS
-SELLERS ARE PETER DOEHLE GERMANY 9007518
YAKUMO BC 2001 KURINOURA 15,502 $10.75mVIETNAMESE
BUYERSVIETNAM
SELLERS ARE EIWA KAIUN KK, JAPAN 9251042
GLORIA BC 1984 JAPAN 13,541 2X25T D2X25T $2.70mCHINESE BUYERS
A month of low activity always considering the summer holidaysbut with a serious slowdown in the secondhand sale and
purchase activity noted mainly after week 34 of 2009. 72 deals this month, matches the years lowest figure and surely lacks
enthusiasm.
MONTHLY UNIT SALE ACTIVITY
P&C DEAL
BUYERS - China has taken the lead for quite sometime now. They have bought a total of 180 units. If we add also the ships of Taiwan (10) we see that China is clearly the undisputed leader buyer of second-hand tonnage. Greeks follow still strong in 2nd place with 133 units, but the gap has widened more, while Turkish Buyers have come up strong 3rd with 26 units, with Syrian buyers leaping to 4th place with 23 units. It is a weird coincidence that Greeks have sold 133 units and have acquired also 133 units!!!!
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 5 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
In the table on the top we see monthly number of dry cargo ships sold as of August 2009, compared to 2008's monthly activity.
In the table on the top we see the MONTHLY dry cargo capital expenditure for August2009 compared to 2008's monthly activity.
Out of a total of 462 DRY BULK vessels sold during the first 8 months of 2009, it is interesting to see that 351 vessels (76% of total) are built in JAPAN based Shipyards. This is a very interesting trend that we noted over the past months ago and for nearly 5 months now the percentage achieved is very stable and remains unchanged around the 75% mark. 40 units or 8.7% of all vessels traded in the second-hand market are built in Korea, with China to follow with 28 units or 6% of the total. So it is clearly obvious as 3 out of 4 Bulkers sold are "BIG IN JAPAN" it goes without saying that if a ship wants to stand a good chance of finding quickly a new owner then she "better be built in JAPAN"!!!
And what is is that attracts the potential buyer to go for a Japanese vessel? Better steel, more durable and longlasting constructions? Better propulsion systems, more economical to run, less maintenance? Is it the fact that charterers have a better eye for Japanese built vessels and in case of competition a Japanese built ship stands more chances of being charterered by a major trader/charterer? Also we should not exclude the fact that Japanese ships are also well established in the minds of most shipowners as the ones that started implementing new technologies on-board the ships and following that fact, all other manufacturers of other countries/regions copied the Japs and "just followed"; so to the average shipowner Japan is a synonym to QUALITY and DURABILITY.
2009 BULKER VSLS SOLD - COUNTRY OF BUILT
2004 built (5Y) OLD BULKERS PRICE COMPARISON
Tables above compare prices from 6th July 2007 and 4th Jul 2008 with today
1989 built (20Y) OLD BULKERS PRICE COMPARISON
TYPE
28/08/2009
29/08/2008 28/08/2009
29/08/2008
1999 built (10Y) OLD BULKERS PRICE COMPARISON
TYPE
Dry cargo units sold 2009 vs 2008
79 7783
95 96
74
52
33
44 42
101108
72
110
71
59
7275
93
109
30
40
50
60
70
80
90
100
110
JANUARY
FEBRUARY
MARCHAPRIL
MAYJUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
units
2008 2009
Dry cargo - Capital expend. 2009 vs 2008
$1,339
$2,675 $2,660
$1,340
$3,950
$2,027
$3,615
$2,172
$1,602
$809 $567 $351
$1,352
$1,048 $1,123$1,024$913
$739 $681
$1,625
$150.00m
$650.00m
$1,150.00m
$1,650.00m
$2,150.00m
$2,650.00m
$3,150.00m
$3,650.00m
$4,150.00m
JANUARY
FEBRUARY
MARCHAPRIL
MAYJUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
2008 2009
DRY CARGO (2000 - 2009) NB vsl PRICES
$16
$31
$46
$61
$76
$91
Feb-
00
Aug-0
0
Feb-
01
Aug-0
1
Feb-
02
Aug-0
2
Feb-
03
Aug-0
3
Feb-
04
Aug-0
4
Feb-
05
Aug-0
5
Feb-
06
Aug-0
6
Feb-
07
Aug-0
7
Feb-
08
Aug-0
8
Feb-
09
Aug-0
9
CAPE 170KPANAMAX 70KHANDY 50K
DRY CARGO (2000 - 2009) 5y OLD vsl PRICES
$10
$33
$55
$78
$100
$123
$145
Feb-
00
Aug-0
0
Feb-
01
Aug-0
1
Feb-
02
Aug-0
2
Feb-
03
Aug-0
3
Feb-
04
Aug-0
4
Feb-
05
Aug-0
5
Feb-
06
Aug-0
6
Feb-
07
Aug-0
7
Feb-
08
Aug-0
8
Feb-
09
Aug-0
9
CAPE 170KPANAMAX 70KHANDY 50K
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 6 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
2009
NAME TYPE YEAR BUILT DWT PRICEPRICE NOTE
BUYERS NAME
BUYERS NATION
NOTES IMO
CRUDEMED TANKER 2010 KOREA 318,000 $101.00mTAIWANESE
NORWAY 14 $597 13.58% 1,101,710 8.93% TOTAL 194 100.00%
CHINA 12 $244 5.56% 2,279,436 18.47%
VIETNAM 10 $119 2.70% 311,963 2.53%
LIBYA 8 $391 8.90% 711,620 5.77%
INDONESIA 8 $71 1.62% 380,064 3.08%
TURKEY 7 $45 1.02% 84,064 0.68%
JAPAN 7 $263 5.99% 906,392 7.35%
KOREA 4 $16 0.37% 25,079 0.20%
GERMANY 3 $69 1.57% 45,801 0.37%
MEXICO 3 $6 0.14% 101,589 0.82%
UNDISCL 21 $368 8.37% 899,744 7.29%
ALL OTHER 38 $717 16.31% 2,226,334 18.04%
TOTAL 194 $4,394 100.00% 12,340,067 100.00%
2009VLCC & ULCC
SUEZMAXAFRAMAX
110KPANAMAX
70KPROD 45K < 40,000 OBO LPG & LNG TOTAL
JANUARY 2 5 9 0 7 13 0 0 36
FEBRUARY 1 1 3 2 0 8 0 2 17
MARCH 0 0 4 0 3 13 0 0 20
APRIL 1 0 0 0 4 16 0 1 22
MAY 6 1 3 0 8 26 0 1 45
JUNE 2 1 1 0 2 8 0 2 16
JULY 1 7 2 1 1 8 0 2 22
AUGUST 2 3 2 0 1 8 0 0 16
SEPTEMBER 0 0 0 0 0 0 0 0 0
OCTOBER 0 0 0 0 0 0 0 0 0
NOVEMBER 0 0 0 0 0 0 0 0 0
DECEMBER 0 0 0 0 0 0 0 0 0
TOTAL 15 18 24 3 26 100 0 8 194
SELLERS - The table on the RIGHT shows the nationality ofthe Sellers. Japanese Sellers are leading in 1st place of our
sellers list, selling 30 units (27 last) with Greek sellers sharing 2nd place with Singapore sellers having sold 27 units. They are
followed by Norwegian sellers who sold 16 units (16 last) followed by USA and Chinese sellers with 11 units each.
TANKER UNITS SOLD - BREAKDOWN PER SIZE AND MONTH 2009
2009 TANKER buyer STATISTICS
BUYERS - Greek buyers are holding the lead, having acquired 29 units (28 last), with USA buyers sharing 2nd place with Singapore buyers having acquired 15 units each. Norwegian buyers have taken 14 units while Chinese buyers have acquired 12 ships. 6th place is for Vietnam with 10 units while Libyan and indonesian Buyers have shared 7th place with 8 units each.
SELLERS STATS 2009We see that the number of ships sold during August 2009 show just like in the Dry bulk sector a serious "slowdown" of the
sales and purchase tanker secondhand market. After Feb & June, in Aug 2009 we had once more only 16 tanker ships that
were sold this month. Capital Outlay is still average with $530million USD being spent. We can say that Metrostar saved the day for the tanker sector as if it wasn't for their 3
modern resales the tanker sector would be very dull to report.
MONTHLY UNIT SALE ACTIVITY
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 8 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
2,290,445 1,140,638 2,639,057 178,369 1,063,371 7,311,88010,376,135 4,897,417 6,944,096 284,348 1,346,327 23,848,323$425,875,882 $260,920,332 $496,597,526 $34,926,000 $112,187,786 $1,330,507,52632.3 Years 28.3 Years 28.6 Years 28.6 Years 29.5 Years 29.5 Years
REEFERRORO PAX
CRUISE
UNITS
CONT/ TWEEN/ MPP
DWT
STATS
AVERAGE AGE
%
LDT
USD PAID
Demolition DATA for 2009TANK/
OBO/LPG
source of data: N. COTZIAS SHIPPING CONSULTANTS (NCSC)
BALTIC DRY BULK MARKET INDICES until 31st AUGUST 2009
All Baltic DRY indices 2005 - 2009
300
2300
4300
6300
8300
10300
12300
14300
16300
18300
Feb-05
May-05
Aug-05
Nov-05
Feb-06
May-06
Aug-06
Nov-06
Feb-07
May-07
Aug-07
Nov-07
Feb-08
May-08
Aug-08
Nov-08
Feb-09
May-09
Aug-09
BPIBCIBDIBSI
BALTIC DRY 2005 - 2009
400
2400
4400
6400
8400
10400
Feb-05
May-05Aug-05
Nov-05Feb-06
May-06Aug-06
Nov-06Feb-07
May-07Aug-07
Nov-07Feb-08
May-08Aug-08
Nov-08Feb-09
May-09Aug-09
BDIBALTIC CAPE 2005 - 2009
400
2900
5400
7900
10400
12900
15400
17900
Feb-05
May-05Aug-05
Nov-05Feb-06
May-06Aug-06
Nov-06Feb-07
May-07Aug-07
Nov-07Feb-08
May-08Aug-08
Nov-08Feb-09
May-09Aug-09
BCI
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 16 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
DATE CLEAN % frm 2/1/08 DIRTY % frm 2/1/08
31/07/2009 465 -23.9% 474 -43.0%
03/08/2009 467 -23.6% 474 -43.0%
04/08/2009 466 -23.7% 474 -43.0%
05/08/2009 465 -23.9% 472 -43.2%
06/08/2009 464 -24.1% 475 -42.8%
07/08/2009 462 -24.4% 474 -43.0%
10/08/2009 462 -24.4% 471 -43.3%
11/08/2009 457 -25.2% 468 -43.7%
12/08/2009 454 -25.7% 469 -43.6%
13/08/2009 451 -26.2% 472 -43.2%
14/08/2009 449 -26.5% 477 -42.6%
17/08/2009 446 -27.0% 480 -42.2%
18/08/2009 443 -27.5% 483 -41.9%
19/08/2009 436 -28.6% 490 -41.0%
20/08/2009 432 -29.3% 499 -40.0%
21/08/2009 430 -29.6% 502 -39.6%
24/08/2009 430 -29.6% 503 -39.5%
25/08/2009 427 -30.1% 511 -38.5%
26/08/2009 426 -30.3% 507 -39.0%
27/08/2009 429 -29.8% 504 -39.4%
28/08/2009 433 -29.1% 500 -39.8%
BALTIC TANKER MARKET INDICES until 31st AUGUST 2009
BALTIC PMAX 2005 - 2009
300
2300
4300
6300
8300
10300
Feb-05
May-05Aug-05
Nov-05Feb-06
May-06Aug-06
Nov-06Feb-07
May-07Aug-07
Nov-07Feb-08
May-08Aug-08
Nov-08Feb-09
May-09Aug-09
BPIBALTIC SUPMAX 2006 - 2009
300
1300
2300
3300
4300
5300
6300
7300
Feb-06
May-06Aug-06
Nov-06Feb-07
May-07Aug-07
Nov-07Feb-08
May-08Aug-08
Nov-08Feb-09
May-09Aug-09
BSI
ALL BALTIC WET Indices 2006-9
300
800
1300
1800
2300
Feb-06Apr-06
Jun-06Aug-06
Oct-06Dec-06
Feb-07Apr-07
Jun-07Aug-07
Oct-07Dec-07
Feb-08Apr-08
Jun-08Aug-08
Oct-08Dec-08
Feb-09Apr-09
Jun-09Aug-09
BCTI
BDTI
ALL CAPITAL LINK WET Indices 2006-9
400
1400
2400
3400
4400
5400
Feb-06Apr-06
Jun-06Aug-06
Oct-06Dec-06
Feb-07Apr-07
Jun-07Aug-07
Oct-07Dec-07
Feb-08Apr-08
Jun-08Aug-08
Oct-08Dec-08
Feb-09Apr-09
Jun-09Aug-09
CL Tanker Index (CLTI)
CL LNG/LPG Index (CLLG)
CAPITAL LINK MARITIME INDEX 2005-9
400.00
1400.00
2400.00
3400.00
4400.00
5400.00
Feb-05May-05
Aug-05Nov-05
Feb-06May-06
Aug-06Nov-06
Feb-07May-07
Aug-07Nov-07
Feb-08May-08
Aug-08Nov-08
Feb-09May-09
Aug-09
CL Maritime Index (CLMI)
CAPITAL LINK DRYBULK INDEX 2005-9
400.00
1400.00
2400.00
3400.00
4400.00
5400.00
6400.00
7400.00
Feb-05May-05
Aug-05Nov-05
Feb-06May-06
Aug-06Nov-06
Feb-07May-07
Aug-07Nov-07
Feb-08May-08
Aug-08Nov-08
Feb-09May-09
Aug-09
CL Drybulk Index (CLDBI)
CAPITAL LINK CONTAINER INDEX 2005-9
400.00
900.00
1400.00
1900.00
2400.00
2900.00
3400.00
3900.00
4400.00
4900.00
Feb-05May-05
Aug-05Nov-05
Feb-06May-06
Aug-06Nov-06
Feb-07May-07
Aug-07Nov-07
Feb-08May-08
Aug-08Nov-08
Feb-09May-09
Aug-09
CL Container Index (CLCI)
CAPITAL LINK MLP INDEX 2005-9
400.00
900.00
1400.00
1900.00
2400.00
2900.00
3400.00
3900.00
4400.00
May-05Aug-05
Nov-05Feb-06
May-06Aug-06
Nov-06Feb-07
May-07Aug-07
Nov-07Feb-08
May-08Aug-08
Nov-08Feb-09
May-09Aug-09
CL MLP Index (CLMLP)
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 17 of 18
www.cotzias.gr – visit our constantly updated website AUGUST 2009
ALL CAPITAL LINK INDICES ARE USED WITH THE EXPRESS KIND PERMISSION OF CAPITAL LINK INC - NEW YORK
DISCLAIMER: INFORMATION & DATA CONTAINED IN THIS MONTHLY MARKET REPORT HAVE BEEN CAREFULLY OBTAINED FROM VARIOUS MARKET SOURCES. ALTHOUGH ALL IS BELIEVED TO BE CORRECT, N. COTZIAS SHIPPING GROUP MAKES NO GUARANTEE FOR ACCURACY, AND SHALL NOT BE LIABLE FOR ANY LOSS INCURRED IN ANY WAY WHATSOEVER BY ANY PERSON RELYING ON THE INFORMATION CONTAINED HEREIN.
BALTIC DIRTY TANKER INDEX 2005 - 2009
400
900
1400
1900
2400
Feb-05Apr-0
5Jun-05
Aug-05Oct-0
5Dec-05
Feb-06Apr-0
6Jun-06
Aug-06Oct-0
6Dec-06
Feb-07Apr-0
7Jun-07
Aug-07Oct-0
7Dec-07
Feb-08Apr-0
8Jun-08
Aug-08Oct-0
8Dec-08
Feb-09Apr-0
9Jun-09
Aug-09
BDTIBALTIC CLEAN TANKER INDEX 2005 - 2009
300
500
700
900
1100
1300
1500
1700
1900
2100
Feb-05Apr-0
5Jun-05
Aug-05Oct-0
5Dec-05
Feb-06Apr-0
6Jun-06
Aug-06Oct-0
6Dec-06
Feb-07Apr-0
7Jun-07
Aug-07Oct-0
7Dec-07
Feb-08Apr-0
8Jun-08
Aug-08Oct-0
8Dec-08
Feb-09Apr-0
9Jun-09
Aug-09
BCTI
Brent OIL (2001 - 2009)
16
26
36
46
56
66
76
86
96
106
116
126
136
146
Feb-
01
May
-01
Aug-0
1
Nov-0
1
Feb-
02
May
-02
Aug-0
2
Nov-0
2
Feb-
03
May
-03
Aug-0
3
Nov-0
3
Feb-
04
May
-04
Aug-0
4
Nov-0
4
Feb-
05
May
-05
Aug-0
5
Nov-0
5
Feb-
06
May
-06
Aug-0
6
Nov-0
6
Feb-
07
May
-07
Aug-0
7
Nov-0
7
Feb-
08
May
-08
Aug-0
8
Nov-0
8
Feb-
09
May
-09
Aug-0
9
Brent Oil
CAPITAL LINK TANKER INDEX 2005-9
400.00
1400.00
2400.00
3400.00
4400.00
5400.00
Feb-05Apr-05
Jun-05Aug-05
Oct-05Dec-05
Feb-06Apr-06
Jun-06Aug-06
Oct-06Dec-06
Feb-07Apr-07
Jun-07Aug-07
Oct-07Dec-07
Feb-08Apr-08
Jun-08Aug-08
Oct-08Dec-08
Feb-09Apr-09
Jun-09Aug-09
CL Tanker Index (CLTI)
CAPITAL LINK LNG/LPG INDEX 2005-9
400.00
800.00
1200.00
1600.00
2000.00
2400.00
2800.00
3200.00
Jun-05Aug-05
Oct-05Dec-05
Feb-06Apr-06
Jun-06Aug-06
Oct-06Dec-06
Feb-07Apr-07
Jun-07Aug-07
Oct-07Dec-07
Feb-08Apr-08
Jun-08Aug-08
Oct-08Dec-08
Feb-09Apr-09
Jun-09Aug-09
CL LNG/LPG Index (CLLG)
WTI SPOT PRICE (2001 - 2009)
16
26
36
46
56
66
76
86
96
106
116
126
136
146
Feb-
01
May
-01
Aug-0
1
Nov-0
1
Feb-
02
May
-02
Aug-0
2
Nov-0
2
Feb-
03
May
-03
Aug-0
3
Nov-0
3
Feb-
04
May
-04
Aug-0
4
Nov-0
4
Feb-
05
May
-05
Aug-0
5
Nov-0
5
Feb-
06
May
-06
Aug-0
6
Nov-0
6
Feb-
07
May
-07
Aug-0
7
Nov-0
7
Feb-
08
May
-08
Aug-0
8
Nov-0
8
Feb-
09
May
-09
Aug-0
9
WTI Spot Price
N. COTZIAS SHIPPING CO. LTD. ( SHIPBROKERS SINCE 1893 ) PAGE 18 of 18
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