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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

July 2016
MONTHLY REPORT

12000
Baltic Dry Index
10000

8000

6000

4000

2000

0
Mar-10
Mar-07

Mar-08

Mar-09

Mar-11

Mar-12

Mar-13

Nov-13
Mar-14

Mar-15

Mar-16
Jul-06
Nov-06

Jul-07
Nov-07

Jul-08
Nov-08

Jul-09
Nov-09

Jul-10
Nov-10

Jul-11
Nov-11

Jul-12
Nov-12

Jul-13

Jul-14
Nov-14

Jul-15
Nov-15

Jul-16
PRICES TANKERS ($ MIO)
* Prices reflect Year’s End 2010* 2011* 2012* 2013* 2014* 2015* Jul-16
VLCC 5Y 87.8 55.6 56.0 55.8 77.1 80 64
VLCC 10Y 64.3 34.1 35.0 35.0 52.1 55 44
SUEZMAX 5Y 62.8 45.6 40.2 39.5 56.8 60 47.5
AFRAMAX 5Y 44.5 34.7 28.0 27.8 41.9 46 35
AFRAMAX10Y 30.7 19.3 16.3 16.3 26.8 31 22
PANAMAX5Y 39.0 30.9 24.3 24.3 33.4 35 32.5
45K 5Y D/H 27.3 25.8 23.0 23.3 23.8 28.9 23
45K 10Y D/H 19.7 15.8 15.5 15.7 15.2 19.6 16.5
45K 20Y 6.7 6.0 6.2 6.2 6.5 8.5 6.5

PRICES BULKERS ($ MIO)


* Prices reflect Year’s End 2010* 2011* 2012* 2013* 2014* 2015* Jul-16
CAPESIZE 5Y 57.0 36.3 32.0 43.9 39.5 25 24.7
CAPESIZE 10Y 43.0 26.8 20.5 31.0 27.8 13.6 14
CAPESIZE 15Y 26.0 15.2 12.7 18.2 16.3 8.5 8
CAPESIZE 20Y 16.4 10.5 9.3 10.1 9.0 5.6 5.5
PANAMAX 5Y 38.5 26.4 18.0 25.6 20.1 14 14
PANAMAX 10Y 31.6 18.6 12.5 17.9 14.6 8.5 8
PANAMAX 15Y 23.1 12.4 8.3 12.0 10.0 5 4.5
PANAMAX 20Y 13.8 8.1 5.4 7.5 5.4 3.6 3.2
SUPRAMAX 5Y 31.9 26.4 23.3 24.3 20.8 13.6 13
2

SECOND HAND SALES & CHARTER FIXTURE TRENDS

Monthly Tanker Market Trend Monthly 1 Yr TC Rates


100.0 70000

90.0
60000
80.0

70.0 50000

60.0
40000
50.0
Price (USD Mio)

Price (USD)
30000
40.0

30.0 20000
20.0
10000
10.0

0.0 0

VLCC 5Y VLCC 10Y SMAX 5Y AMAX 5Y VLCC 1 Yr T/C SMAX 1 Yr T/C AMAX 1 Yr T/C

AMAX 10Y PMAX 5Y 45K 5Y D/H 45K 10Y D/H PMAX 1 Yr T/C MR 1 Yr T/C

Monthly Bulk Carrier Market Trend Monthly 1 Yr TC Rates


70.0 40000

60.0 35000

30000
50.0
Prices (USD Mio)

25000
40.0
Price (USD)

20000
30.0
15000
20.0
10000

10.0
5000

0.0 0

CAPE 5Y CAPE 10Y CAPE 15Y CAPE 1 Yr T/C PMAX 1 Yr T/C


PMAX 5Y PMAX 10Y PMAX 15Y
SUPRA 1 Yr T/C HMAX 1 Yr T/C
SUPRA 5Y HMAX 10Y HMAX 15Y

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3

SECOND HAND TONNAGE MARKET

AVAILABLE FOR SALE AVAILABLE FOR SALE


S&P Activity Dry S&P Activity Tankers
REPORTED SOLD REPORTED SOLD
(>5,000 Dwt) (>5,000 Dwt)
PREVIOUS MONTH A/BLE FOR PREVIOUS MONTH A/BLE FOR
SALE SALE
PREVIOUS MONTH SALES PREVIOUS MONTH SALES

300 150
139
200 236 100

100 150 56 50 37 41
51 55
0 0
THIS MONTH - PREVIOUS MONTH THIS MONTH - PREVIOUS MONTH

*Excluding demolition sales

Sale and Purchase Market


Ship Type Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Total
BULK 35 49 60 53 51 56 304
TANK 23 28 24 32 41 37 185
GAS 4 2 1 1 2 2 12
CONT 4 14 8 7 12 5 50
TWEEN/MPP 7 7 5 0 2 3 24
REEF 0 0 0 0 0 0 0
RORO 0 0 0 0 0 0 0
FERRY 0 0 0 0 0 0 0
CRUISE 0 0 0 0 0 0 0

Total 73 100 98 86 86 86 529

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4

Baltic Clean Tanker - Yearly Baltic Dirty Tanker - Yearly


750 714 1100
1046
1000
650
900
550
552 800
700
719
450 600
458 601
500
350 400
33 36 39 42 45 48 51 2 5 8 11 14 17 20 23 26 29 32 33 36 39 42 45 48 51 2 5 8 11 14 17 20 23 26 29 32
2015 2016 2015 2016
WEEK NO WEEK NO

Baltic Clean Tanker - Monthly Baltic Dirty Tanker - Monthly


475 730
463 686
465
462 680
455
630
445
620
580
435
432 559
425 530
01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016 01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016

TANKER SALES
NAME DWT BLT PRICE $ BUYER
KEY SOUTH 6412 2010 TURKEY DH 10 MIO SEATANK (Marineline)
SARA 6608 1990 ITALY DH 2.5 MIO UNDISCLOSED
KELP 8424 2002 JAPAN DH 7.8 MIO S KOREAN (STST)
HARBOUR LEGEND 10052 2004 TURKEY DH 5.5 MIO UNDISCLOSED
JO SPIRIT 6285 1998 SPAIN DH * ENBLOC BSS▼
JO KIRI 19508 2003 JAPAN DH * ENBLOC BSS▼
JO ILEX 19735 2010 JAPAN DH * ENBLOC BSS▼
JO BETULA 25024 2003 JAPAN DH * ENBLOC BSS▼
JO KASHI 25148 2003 JAPAN DH * ENBLOC BSS▼
JO ACER 29709 2004 JAPAN DH * ENBLOC BSS▼
JO LOTUS 30000 2014 CHINA DH * ENBLOC BSS▼
JO LARIX 30000 2015 CHINA DH * ENBLOC BSS▼
GREAT *
SYPRESS 36677 1998 DH ENBLOC BSS▼
BRITAIN
CEDAR 36733 1994 NORWAY DH * ENBLOC BSS▼
GREAT *
SELJE 36778 1993 DH ENBLOC BSS▼
BRITAIN
SPRUCE 36778 1993 NORWAY DH * ENBLOC BSS▼
SEQUOIA 37620 2003 NORWAY DH * ENBLOC BSS▼
STOLT NIELSEN (Ttl Price. Majority
SYCAMORE 37622 2000 NORWAY DH 575 MIO STST tankers. Incl 50% stake in 7
newbuildings)
MTM WESTPORT 20895 2000 JAPAN DH 13 MIO UNDISCLOSED (STST)
TEESTA SPIRIT 46921 2004 KOREA DH 14.5 MIO GREEK
SRIRACHA TRADER 47629 1995 JAPAN DH 3.8 MIO MID EASTERN

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5

NAVE DORADO 47999 2005 JAPAN DH 14 MIO GREAT EASTERN


CHALLENGE PROSPECT 48539 2005 JAPAN DH 14.1 MIO GREAT EASTERN
PRISCO IRINA 50923 2009 KOREA DH * ENBLOC BSS▼
PRISCO ELIZAVETA 50923 2009 KOREA DH * ENBLOC BSS▼
PRISCO EKATERINA 50956 2008 KOREA DH * ENBLOC BSS▼
PRISCO ALEXANDRA 50973 2008 KOREA DH * ENBLOC BSS▼
PRISCO ELENA 50975 2009 KOREA DH * ENBLOC BSS▼
ZALIV VOSTOK 104527 2009 KOREA DH * ENBLOC BSS▼
ZALIV BAIKAL 104532 2009 KOREA DH * ENBLOC BSS▼
ZALIV AMERIKA 104535 2008 KOREA DH * ENBLOC BSS▼
ZALIV AMURSKIY 104542 2008 KOREA DH 200 MIO SOVCOMFLOT (Ttl Price. Ice Class)
TH SONATA 107510 2008 JAPAN DH 25.4 MIO GREEK
SEATRIUMPH 149953 2002 KOREA DH 31 MIO RUSSIAN (Against 5 yrs BBC to
Rosneft for storage. Long subjects)
BW ULAN 299325 2000 KOREA DH 30 MIO WINSON OIL
NEW TINOS 305839 1999 JAPAN DH 29 MIO UNDISCLOSED
GENMAR VISION 312679 2001 KOREA DH 28 MIO WINSON OIL (SS/DD Due)

GAS SALES
NAME DWT BLT CBM PRICE $ BUYER
GAS ORIENTAL 26534 2003 KOREA 35533 25 MIO UNDISCLOSED
BW BORG 54826 2001 JAPAN 84333 42.5 MIO VARUN SHIPPING

VLCC
SUEZMAX
Spot Market - Tankers AFRAMAX

110000
100000
90000
80000
70000
60000
$/Day

50000
40000
30000 24150
20000 13800
10000
0 14250
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16

VLCC
SUEZMAX
Period Market - Tankers 1 Year T/C AFRAMAX

70000
60000
50000
$/Day

40000
30000 32000
26000
20000 19750
10000
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16

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6

Baltic Handysize Baltic Supramax


400 755
392
702
380 705
693
360 655
366
627
340 2 605 2
344

320 555
01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016 01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016

Baltic Panamax Baltic Capesize


930 1120
879 1049
880 1020
830
920
780 895
752 820
730 4 4 38
680 720
691
641
630 620
01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016 01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016

BULKER SALES
NAME DWT BLT GEAR PRICE $ BUYER
WILSON ROUEN 6085 1976 NORWAY GLESS 0.45 MIO UNDISCLOSED
SHIN CHUETSU 25331 1998 JAPAN CR 2X12.5 1.9 MIO TAIWANESE (Woodchip)
CAJU 28074 2000 CHINA CR 4X30 2.45 MIO MID EASTERN
DAISY K 28420 2012 JAPAN CR 4X30 8.4 MIO UNDISCLOSED
CAPE SPENCER 28799 1997 JAPAN CR 4X30 2.4 MIO CHINESE
NEW MARINER 31024 1999 KOREA CR 4X30 2.9 MIO ENBLOC BSS▼
NEW LAUREL 31025 1999 KOREA CR 4X30 2.75 MIO KOREAN (price each)
CS SALINA 32355 2004 JAPAN CR 4X30 4.85 MIO GREEK
KANDA 558 32600 2016 JAPAN CR 4X30 16.5 MIO UNDISCLOSED
GREAT PRIDE 33773 2004 JAPAN CR 4X30 6.2 MIO HONG KONG
TRADING FABRIZIA 35000 2011 KOREA CR 4X35 8.5 MIO UNDISCLOSED
OCEAN CRYSTAL 37156 2012 JAPAN CR 4X30 13 MIO JAPANESE
ATLAS EXPLORER 45642 1995 JAPAN CR 4X25 2.2 MIO UNDISCLOSED
VIPAVA 46570 1998 JAPAN CR 4X30 2.55 MIO UNDISCLOSED
WINGSAIL 48220 1999 JAPAN CR 4X30 2.35 MIO UNDISCLOSED (Damaged crane)
BLUE SAPPHIRE 48907 2001 JAPAN CR 4X30 3.1 MIO MID EASTERN
ATLANTIC ALTAMIRA 51024 2001 JAPAN CR 4X30 3.6 MIO UNDISCLOSED (SS/DD D 09/16)
MAPLE GROVE 53474 2006 JAPAN CR 4X30 7.7 MIO MEGHNA SHIPPING
ALAM MURNI 53553 2003 JAPAN CR 4X30 4.9 MIO UNDISCLOSED
INDIGO 53609 2003 JAPAN CR 4X30 * ENBLOC BSS▼
ARGO 76728 2005 JAPAN GLESS 12.9 MIO GREEK (Ttl Price)
PEACE 55000 2011 CHINA CR 4X30 5.62 MIO UNDISCLOSED (Via Auction)
OCEAN PEARL 55557 2004 JAPAN CR 4X30 * ENBLOC BSS▼
OCEAN FREEDOM 55771 2010 JAPAN CR 4X30 * ENBLOC BSS▼
OCEAN FUTURE 55848 2010 JAPAN CR 4X30 * ENBLOC BSS▼
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7

OCEAN GLORY 55848 2011 JAPAN CR 4X30 * ENBLOC BSS▼


OCEAN DESTINY 55848 2011 JAPAN CR 4X30 * ENBLOC BSS▼
OCEAN ROYAL 58110 2012 PHILIPPINES CR 4X30 * ENBLOC BSS▼
OCEAN DIAMOND 58115 2013 PHILIPPINES CR 4X30 75 MIO TUFTON (Ttl price)
VIL BALTIC 57021 2010 CHINA CR 4X30 7 MIO GERMAN BUYERS
TOWNSVILLE MARU 58086 2013 PHILIPPINES CR 4X30 14.5 MIO UNDISCLOSED
JS RHONE 63227 2012 CHINA CR 4X35 12.5 MIO UNDISCLOSED
MIDA ZHOUSHAN 63800 2015 CHINA CR 4X30 16 MIO ENBLOC BSS▼
VENICE TIZIANO 63800 2016 CHINA CR 4X30 16 MIO S KOREAN (Price each)
DARYA MAYA 64000 2015 CHINA CR 4X30 16.9 MIO CHINESE
DARYA RANI 64000 2015 CHINA CR 4X30 16.9 MIO CHINESE
ALPHA EFFORT 72844 1999 KOREA GLESS 3.3 MIO CHINESE
MATILDE CORRADO 72863 2002 KOREA GLESS 4.8 MIO CHINESE
GOLDEN LYDERHORN 74242 1999 JAPAN GLESS 3.65 MIO CHINESE
ALTAIR 74665 2001 CHINA GLESS 3 MIO UNDISCLOSED
SAMJOHN LIBERTY 74761 1998 JAPAN GLESS 2.7 MIO CHINESE
NORD PEGASUS 75356 2007 JAPAN GLESS 8.5 MIO GREEK
MULBERRY PARIS 76492 2004 JAPAN GLESS 5.3 MIO GREEK
OCEAN ROSE 76619 2008 JAPAN GLESS 9.5 MIO GREEK
UNITED LEGACY 81344 2014 JAPAN GLESS 17.6 MIO BW SHIPPING
AMS PEGASUS I 81598 2012 VIETNAM GLESS 13 MIO GREEK
ISTRIA 81699 2013 CHINA GLESS 13.2 MIO EUROPEAN (Incl TC til 10/2016)
KAIYO 81800 2003 JAPAN GLESS 5 MIO CHINESE (Wide beamed)
GMI FRANCESCA 82000 2015 CHINA GLESS 19.75 MIO ENBLOC BSS▼
GMI TARITA 82000 2015 CHINA GLESS 19.75 MIO ENBLOC BSS▼
BSI TRAFALGAR 82039 2015 CHINA GLESS 19.75 MIO GREEK (Price each)
OCEAN LORD 82134 2014 JAPAN GLESS 18.2 MIO GREEK
AO HONG MA 93291 2011 CHINA GLESS 8.6 MIO GREEK (Via auction)
ZOSCO SHAOXING 175879 2009 CHINA GLESS 14.9 MIO ENBLOC BSS▼
ZOSCO JIAXING 175886 2009 CHINA GLESS 14.9 MIO SINOKOR (Price each)
SEA PULL 177533 2006 JAPAN GLESS 13.75 MIO PACIFIC INTNAL LINES (SS/DD
D 10/16)

CAPESIZE

Spot Market - Bulkers PANAMAX


HANDYMAX

18000
16000
14000
12000
10000
8050
$/Day

8000
6150
6000 5700
4000
2000
0
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16

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8

CAPE

Period Market - Bulkers 1 Year T/C PMAX

HANDYMAX
13100
12100
11100
10100
9100 4
8100
$/Day

7825
7100 6375
6100 6500
5100
4100
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16

CONTAINER SALES
NAME DWT BLT GEAR TEU PRICE $ BUYER
7.5 MIO
ANNABELLA S 11273 2006 GERMANY GLESS 868 WEC
EUR
SITC NINGBO 12613 2004 JAPAN GLESS 831 6.6 MIO SITC (10yrs TCB)
WEHR ELBE 33657 2001 GERMANY CR 3X45 2524 3.75 MIO ENBLOC BSS▼
WEHR WESER 33691 2001 GERMANY CR 3X45 2524 3.75 MIO SWISS (Price each)
COLUMBIA 53511 2002 KOREA GLESS 4713 4.7 MIO CHINESE

MPP/TWEEN SALES
NAME DWT BLT GEAR TEU PRICE $ BUYER
EGGELLA 9000 2015 CHINA CR 2X55 630 6 MIO NEPTUNE PACIFIC
KEIZERSBORG 9150 1996 NETHERLANDS GLESS 494 2.6 MIO UNDISCLOSED
PAC DUBHE 27408 2006 CHINA CR 2X45, CR 2X40 1364 4 MIO UNDISCLOSED

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9

NEW BUILDING MARKET AND REPORTED CONTRACTS

Tanker Prices VLCC Suezmax Bulker Prices Capesize Panamax

Aframax MR Handymax Handysize

120 60
55
100 50
45
88 5 42
1 40
80
$m

35

$m
60 30
57 24.2
5 47 25
40 3 20 22.3
33.2 15 19.5
20 10
Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 Jul-16 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 Jul-16

Ship Type 2016 2017 2018+ Total


Capesize 88 45 75 208
Panamax 142 101 34 277
Supra/Hmax 289 177 40 506
Handies 154 120 59 333
Total 673 443 208 1324

Ship Type 2016 2017 2018+ Total


ULCC/VLCC 43 46 31 120
Suezmax 34 61 14 109
Aframax 44 71 44 159
Panamax 24 27 14 65
MR+Small 153 165 98 416
Total 298 370 201 869

Ship Type 2016 2017 2018+ Total


VLGC 19 29 14 62
LGC 2 0 0 2
MR 19 44 4 67
Handy 7 18 2 27
Small 3 1 1 5
Total 50 92 21 163

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10

Tankers >10,000 dwt


Newbuilding Sales Delivery Schedule Bulkers >10,000 dwt.
Bulkers >10,000 dwt
Containerships Tankers >10,000 dwt
700 660 60 55.4
600 50
No. of Vessels

500 39.3
398 40

m. dwt
33.9
400 30.4
30 25
300 235 21.2
208 20
200 142 128
100 10
62 41
35
0 0
2014 2015 Jul-16 Jul-16 2017 2018+

Tanker Newbuildings on Order VLCC Suezmax Bulker Newbuildings on Order Capesize Panamax
Aframax Panamax
Products Handymax Handysize
40 37 60
35 50 49
30
40
m. dwt

30.6
25
m. dwt

20 17.1 17.7 30
14.4 22.7
15 20 12
10 4.9
10
5
0 0
July 2016 July 2016

Newbuilding Historical Prices ($m)


Tankers Jul-16 2015 2014 2013 2012 2011 2010 2009 2008 2005 2000 1995 1990 1985
1 2
310,000 DWT 88 93.7 97.3 93.8 93.2 98.9 104.8 97.5 150 120 76.5 85.3 87.4 38.2
170,000 DWT1 57 63 65.5 59.6 57.1 60.3 66.3 61 90 71.5 52.5 54 66.1 2
28.2
1 2
110,000 DWT 47 52 53.6 52.2 48.5 52.2 56 49.5 74 58 41.5 43.3 53.2 18.1
47,000 DWT1 33.2 35.4 36.8 34.6 33.8 35.2 36.1 35 46.5 43 29.5 33.2 3
32.1 3
13.3

Bulkers
180,000 DWT1 42 46 54.2 53.6 45.7 48.4 57.2 55.5 87 58.5 40.5 42.3 60.2 29.3
73,000 DWT1 24.2 25.7 29 27.8 25.6 28.7 34.3 34.5 45.5 36 22.5 27.9 30 13.4
45,000 DWT 22.3 24.1 27.2 26.5 23.7 26.7 31.1 29 41 31 20.5 24.1 25.3 12.4
29,000 DWT 19.5 20.3 22.8 22.2 20.5 22.2 26.3 24.5 31 25.5 15 19.2 21.3 9.7
1 2 3
Before 2001 sizes to read 280,000 - 140,000 - 95,000 - 40,000 respectively for tankers and 150,000 - 69,000 for Bulkers Single Hull
30,000 DWT
(note: above is for vessels built Japan / Korea, you should also consider US$ / Yen / Won relation for the years mentioned)

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11

The Shipbuilding Market


TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES
Container 33000 Xiamen Shipbuilding 2017 Quanzhou Ansheng
Container 33000 Xiamen Shipbuilding 2017 Quanzhou Ansheng
Container 33000 Xiamen Shipbuilding 2018 Quanzhou Ansheng
Container 33000 Xiamen Shipbuilding 2018 Quanzhou Ansheng
Container 33000 Taizhou Sanfu 2017 Quanzhou Ansheng
Container 33000 Taizhou Sanfu 2017 Quanzhou Ansheng
Container 33000 Taizhou Sanfu 2018 Quanzhou Ansheng Option
Container 33000 Taizhou Sanfu 2018 Quanzhou Ansheng Option
Container 33000 Taizhou Sanfu 2018 Quanzhou Ansheng Option
Container 33000 Taizhou Sanfu 2018 Quanzhou Ansheng Option
Container 139335 JMU Kure Shipyard 2018 Nippon Yusen Kaisha
Container 139335 JMU Kure Shipyard 2018 Nippon Yusen Kaisha
Container 139335 JMU Kure Shipyard 2019 Nippon Yusen Kaisha
Container 139335 JMU Kure Shipyard 2019 Nippon Yusen Kaisha
Container 139335 JMU Kure Shipyard 2019 Nippon Yusen Kaisha
Cruise Kleven Verft 2018 Hurtigruten AS
Cruise Kleven Verft 2019 Hurtigruten AS
Cruise Kleven Verft 2020 Hurtigruten AS Option
Heavy Lift 9900 Zhejiang Ouhua SB 2018 BigLift Shipping
MPP 17500 Honda Zosen K.K. 2017 Mitsui O.S.K. Kinkai
MPP 17500 Honda Zosen K.K. 2017 Mitsui O.S.K. Kinkai
MPP 17500 Honda Zosen K.K. 2018 Mitsui O.S.K. Kinkai
Pass Austal Phils Ltd. 2017 12.00 Mio Seaspovill
Pass/Car Cat Austal Pty. Ltd. 2017 73.91 Mio Mols-Linien A/S
Pass/Car Cat Austal Pty. Ltd. 2018 Mols-Linien A/S
Pass/Car F. 8000 Shandong Huanghai 2017 C-K Ferry
Pass/Car F. RMC OY 2018 68.00 Mio Mols-Linien A/S Euro
Tanker 115000 JMU Kure Shipyard 2019 Wisdom Marine Group
Tanker 115000 JMU Kure Shipyard 2019 Wisdom Marine Group
Tanker 300000 Jinhai Heavy Ind 2018 HNA Group
Tanker 300000 Jinhai Heavy Ind 2018 HNA Group
Tanker 300000 Jinhai Heavy Ind 2018 HNA Group
Tanker 300000 Jinhai Heavy Ind 2018 HNA Group
Tanker 300000 Jinhai Heavy Ind 2019 HNA Group Option
Tanker 300000 Jinhai Heavy Ind 2019 HNA Group Option
Tanker 300000 Jinhai Heavy Ind 2019 HNA Group Option
Tanker 300000 Jinhai Heavy Ind 2019 HNA Group Option
Tanker 311360 Nantong COSCO KHI 2017 K-Line
Tanker 311360 Nantong COSCO KHI 2018 K-Line
Tanker 310300 Namura Shipbuilding 2018 K-Line
Tanker 113000 Sasebo H.I. 2018 K-Line
Tanker 113000 Sasebo H.I. 2019 K-Line
TSH Dredger Keppel Nantong 2018 Jan De Nul Group
TSH Dredger Keppel Nantong 2018 Jan De Nul Group

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12

DEMOLITION MARKET
Demolition Prices
Gen Cargo Tanker
India USD 255 /lt Ldt USD 280 /lt Ldt
Bangladesh USD 265 /lt Ldt USD 285 /lt Ldt
Pakistan USD 250 /lt Ldt USD 275 /lt Ldt
China USD 165 /lt Ldt USD 170 /lt Ldt

Demolition Historical Data

2013 2014
Price Tankers*
2015 2016
580
530
480
USD/ton

430
380
330 280 280 295 280 280
270
280 250
230
180
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
*India month's end prices
2013 2014
Price Bulkers*
2015 2016
580
530
480
430
380
USD/ton

330 275
260 260 260 255
280 225 240
230
180
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
*India month's end prices

Total Demolition (Dwt)


60
50.3
50
41.8
38.8
Million dwt

38
40 34.3
30.5 31.58 29.7
28.4 28.5 27 28.9
30 25.6 25
22.4
25.7
18.9 18
20 14.5 15.9 16.7 15.5 15.6
10 12
10 4.9 4.6 3.8 5.5 6.5 5
2.35
0

* Bss reported sales

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13

Historical Demolition Prices (India Year's End)


600

500

400 TANKERS
USD/ton

300 BULKERS

200 Avg. Trend

100

HISTORICAL DEMOLITION PRICES (*Indian Year’s End)


1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 CURR.
TANK 115 136 174 135 174 262 362 302 405 507 287 338 485 482 405 435 425 300 280
BULK 112 143 170 135 181 267 381 332 392 472 268 328 437 456 375 410 400 285 255

India
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK SPRING BAY 5450 1987 2367 252 In damaged cond. Incl 150T ROB
BULK SUCHADA NAREE 23732 1994 5000 260
BULK CHALOTHORN NAREE 27079 1996 6040 253
BULK OCEAN WHISPER 27652 1986 5903 255
BULK TIVOLI 28611 1997 6633 160 Under tow. As is Batam
BULK TRUE BROTHERS 29643 1985 6135 253
BULK MEVLANA 37705 1984 7600 255
BULK APJ AKHIL 39989 1989 10306 257
BULK DESPINA 65644 1993 11610 255 As is Fujairah, incl ROB for voy
CONT E.R. SANTIAGO 30720 1998 11464 280
CONT NORTHERN ENDURANCE 33838 2001 10882 286
CONT HAMMONIA IONIUM 34809 1997 11132 295
CONT CHICAGO BRIDGE 67170 2001 24500 283 As is Singapore incl ROB for voy
As is Shanghai Incl sufficient ROB
CONT DS NATIONAL 80494 2001 27200 274
for voy
As is Shanghai Incl sufficient ROB
CONT DS PATRIOT 80551 2001 27200 274
for voy
GAS GAS SUEZ 16663 1978 8973 285
BULK SAPPHIRE ACE 15204 1993 12200 220 Green recycling

Bangladesh
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK FAREAST SUNNY 42248 1989 6506 260
BULK MINBEI 42609 1986 7358 250
BULK EVER BLOSSOM 69999 1997 10105 278
BULK SAMUDERA 72421 1997 10201 254
CONT SAN DIEGO 63250 1997 18796 285 As is Singapore with ROB for voy
LVSTK LINCOLN EXPRESS 1748 1987 1446 235

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14

China
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
N/A N/A N/A

Pakistan
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK ORIENTAL TREASURE 151177 1994 17859 279 BULK
BULK BADRI PRASAD 151418 1990 17618 270 BULK

Turkey
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
N/A N/A N/A

Other
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
N/A N/A N/A

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15

HISTORICAL BUNKER PRICES


Bunkers Cost (380 cst)
800
700
600
500
USD/ton

400 Rotterdam
Fujeirah
300
Houston
200
Average Trend
100
0

Bunkers Cost (MGO)


1200

1000

800
USD/ton

600 Rotterdam
Fujeirah
400
Houston
200 Average Trend

HISTORICAL BUNKER PRICES


Rotterdam Fujeirah Houston
380 cst MGO 380 cst MGO 380 cst MGO
1992 83 161.9 81.5 208.2 78.4 165.2
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
Jul-16 215 363 228 505 212 413

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16

MARKET INDICATORS

USD-EUR
Currencies USD-JPY

1.80 130
1.60 120
1.40 110

USD-JPY
USD-EUR

1.20 100
1.00 90
0.80 80
0.60 70
0.40 60

Brent Oil
160.00
140.00
120.00
100.00
$/Barrel

80.00
60.00
40.00
20.00
0.00

GBP CAD EUR JPY CHF USD AUD

GBP 1 0.57652 0.84039 0.00723 0.77111 0.75847 0.57008


CAD 1.73387 1 1.45736 0.01253 1.33726 1.31538 0.98865
EUR 1.18963 0.68596 1 0.0086 0.91749 0.90245 0.67831
JPY 138.31 79.75 116.26 1 106.67 104.93 78.86
CHF 1.29636 0.7475 1.08967 0.00937 1 0.98342 0.73915
USD 1.31815 0.7601 1.10794 0.00953 1.01663 1 0.75161
AUD 1.7534 1.01109 1.47391 0.01268 1.35232 1.33019 1
* 29/07/2016 values

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17

STOCK WATCH

NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW

Capital Product Partners CPLP 3.81 2.98 27.9 8.22 2.41

Diana Shipping Inc. DSX 2.52 2.43 3.7 7.73 1.95

Dryships Inc. DRYS 0.37 0.56 -34.3 14.25 0.37

Dynagas LNG Partners LP DLNG 13.43 13.65 -1.6 15.72 6.70

Eagle Bulk Shipping Inc. EGLE 0.42 0.44 -4.3 9.15 0.30

Euroseas Ltd. ESEA 1.85 1.87 -1.1 6.60 1.40

Freeseas Inc. FREEF 0.01 0.02 -66.8 14040.05 0.01

Costamare Inc. CMRE 10.45 7.67 36.2 17.66 6.01

Navios Maritime Holdings NM 0.94 0.81 15.9 3.94 0.57

GasLog Ltd. GLOG 13.12 12.98 1.1 15.81 5.24

Paragon Shipping Inc. PRGN 0.70 0.39 77.6 42.56 0.20

Safe Bulkers Inc. SB 1.11 1.05 5.7 3.87 0.30

Star Bulk Carriers Corp. SBLK 4.00 2.96 35.1 16.05 1.57

Stealthgas Inc. GASS 3.24 3.78 -14.3 5.95 2.39

TEN Inc. TNP 5.13 4.69 9.4 9.98 4.48

TOP Ships Inc. TOPS 3.05 1.69 80.5 12.40 1.30

Box Ships Inc. TEUFF 0.01 0.02 -55 0.89 0.00

Diana Containerships Inc. DCIX 3.69 3.54 4.2 16.80 2.48

Danaos Corporation DAC 4.26 2.72 56.6 6.64 2.70

Aegean Marine Petroleum ANW 6.38 5.50 16 11.85 5.00


28/07/2016 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.

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