Вы находитесь на странице: 1из 9

Weekly Market Report

Issue: Week 5 | Tuesday 3rd February 2015

Market insight Chartering (Wet: Stable- / Dry: Soft - )

By Linos Kogevinas Where does it stop? This seems to be the question in the mind of every-
one with regards to the downward trend in the Dry Bulk market, while
Marketing - Harbour Towage & Port Agency the BDI has been flirting with new historical lows on the back of thin
trading across all size segments. The BDI closed today (03/02/2015) at
Cotzias Intermodal Shipping Inc.
577 points, down by 13 points compared to Monday’s levels
It has been just about over 2 months since, in a move that surprised many (02/02/2015) and a decrease of 111 points compared to previous Tues-
and caused widespread apprehension, OPEC decided to maintain its produc- day’s closing (27/01/2015). As activity in the crude carriers market
tion target (30 million bpd) unchanged signaling a conscious choice to pre- scaled back last week so did rates, while the Suezmax segment outper-
serve existing market share over oil price. This was a decision that will surely formed the rest of the market on the back of strong European demand.
be remembered in the history of oil and has left us all witness to the plum- The BDTI Monday (02/02/2015) was at 894 points, an increase of 5
met the barrel price took following this policy and the embrace of market points and the BCTI at 669, a decrease of 29 points compared to previ-
forces. ous Monday’s (26/01/2015) levels.

Oil prices have dropped substantially and have seemingly found some form Sale & Purchase (Wet: Firm+ / Dry: Soft - )
of stability during the past week. The supply of Crude averaged 30,38m bpd SnP activity sustained its volume last week, with slightly increased inter-
during January, marking a slight increase compared to December. Only the est in dry bulk second-hand tonnage, Sellers of which appear to have
future will determine whether this decision was a sound strategy which started succumbing to pressure for even deeper discounts. On the tank-
could allow OPEC a larger stake of the market when and if oil prices surge er side, we had the en-bloc sale of the “CHAPTER GENTA” (156,480dwt-
upward (if indeed OPEC commits to this policy for the long term). blt 11, China) and the “ROXEN STAR” (156,436dwt-blt 09, China) , which
was picked up by Norwegian owner Frontline, for a US$ 49.7m and
With everyone feeling the policy effects and with barrel prices averaging
US$46.3m respectively. On the dry bulker side, we had the sale of the
between 45-55$, the question on everyone’s minds is whether we have
“MARITIME TABONEO” (76,302dwt-blt 04, Japan), which went to Greek
finally reached the bottom or if the freefall will continue. According to the
owner Cyprus Maritime, for a price of $ 10.7m.
Secretary-General of OPEC, Abdulla al-Badri, the former might be the case.
He affirms that we have indeed reached the bottom and anticipates that oil Newbuilding (Wet: Stable- / Dry: Stable- )
prices will move in a more correctional fashion as the market stabilizes. A Activity in the newbuilding market remained at the same levels last
bold comment, surely, but not one without merit. It is worth noting that the week, with tankers and gas tankers still making up for the biggest share
Secretary-General did not offer any hints towards future OPEC policy chang- of the recently reported orders. In the case of tankers, there is still a
es or more specifically towards the reduction of their production target. clear preference towards VLCC and Suezmax units, while despite the
overall downward trend in newbuilding prices we are seeing that in both
On the other hand T. Boone Pickens has, since early December, declared his
these segments the orders that are coming through reveal a tendency
certainty that we will return to 100$ levels in the next 12 to 18 months. This
for prices to go up rather than down. As far as dry bulk units are con-
prediction however, is firmly linked to the belief that OPEC will not be able
cerned, the situation is pretty much unchanged, with limited ordering
to hold their production ceiling for very long and will be forced to revise it
interest remaining the main driver behind the softening market. We
accordingly.
expect things over at the dry bulker side to quieten further during Feb-
Opinions on the question of whether oil price will return to triple digit levels ruary, while in terms of prices, it seems that there could easily be some
are exceedingly varied. While there is surely evidence to support both room for further discounts and as long as the freight market is not
claims, it seems to stand to reason that, with OPEC being by and large the showing any signs of an imminent improvement that could get buyers
most important player in the oil market, any significant increase in oil prices back into action. In terms of recently reported deals, Taiwanese owner,
will depend on at least a partial revision of OPEC’s policies. In truth, it seems Sincere Navigation, has placed an order, for one firm VLCC (319,000dwt)
doubtful that OPEC will be able to maintain the current policies amidst rag- at SWS, in China, for a price of $ 95.0m each and delivery set in 2017.
ing market pressure.
Demolition (Wet: Soft - / Dry: Soft - )
There are of course numerous factors directly or indirectly affecting future
The demolition market remains under pressure, with last week being
oil prices. This makes any attempt at a clear prediction troublesome. With
another stressful one for demo market players who have been watching
current industry investments rapidly leading the industry to a state of under-
prices falling further, while as long as cheap Chinese scrap steel keeps
investment, production could very well be affected negatively in the medi-
entering the Indian subcontinent market without any restrictions, hopes
um to long term future.
for an upward correction remain futile. Nonetheless and despite the
The instability of the past two months has had a great effect on economies negative sentiment that still prevails in the market we are witnessing an
on a global level. Industries left and right have been directly affected by the increased number of deals coming through week over week, which
resulting frenzied conditions. Shipping, being so closely connected to the oil means that more and more breakers are willing to risk and position
market, has already been affected significantly. However, the future of oil themselves in the current market. Additionally, dry bulk owners who
and the effect of its price and supply on the shipping industry is unclear and were previously considering the demolition option, now seem more
we will have to keep an eye on a variety of factors in order to be better convinced and in some cases even “rushed” by the continuously soften-
hedged against adverse market developments. ing demo prices, especially as the performance of the market remains
extremely challenging. Average prices this week for wet tonnage were
at around 245-420 $/ldt and dry units received about 220-400 $/ldt.
Wet Market
Spot Rates Indicative Period Charters
Week 5 Week 4 2014 2013
$/day - 12 mos - 'SERENADE' 2009 107,000 dwt
Vessel Routes WS WS
$/day $/day ±% $/day $/day - - $22,000/day - Jellicoe
points points
265k MEG-JAPAN 62.0 64,009 69.0 74,455 -14.0% 30,469 21,133 -24 mos - 'New JOVIALITY ' 2011 318,000 dwt
VLCC

280k MEG-USG 36 45,827 38 50,844 -9.9% 17,173 7,132 - - $42,500/day - Shell-storage


260k WAF-USG 75 79,991 75 80,959 -1.2% 40,541 26,890
130k MED-MED 92 54,806 85 46,992 16.6% 30,950 17,714
Suezmax

TD3 TD5 TD8 TD4 DIRTY - WS RATES


130k WAF-USAC 87.5 43,306 82.5 38,775 11.7% 24,835 13,756
130k BSEA-MED 87.5 53,125 85 46,337 14.6% 30,950 17,714 220

WS poi nts
80k MEG-EAST 115 36,979 112.5 35,481 4.2% 19,956 11,945 170
Aframax

80k MED-MED 135 51,930 140 59,811 -13.2% 28,344 13,622


120
80k UKC-UKC 95 31,515 128 51,356 -38.6% 33,573 18,604
70
70k CARIBS-USG 120 32,942 140 39,381 -16.4% 25,747 16,381
75k MEG-JAPAN 105.0 30,992 85 22,782 36.0% 16,797 12,011 20
Clean

55k MEG-JAPAN 120 25,959 110.0 22,771 14.0% 14,461 12,117


37K UKC-USAC 125.0 17,997 130.0 19,462 -7.5% 10,689 11,048
30K MED-MED 180 27,440 210 35,846 -23.5% 18,707 17,645
55K UKC-USG 150.0 35,749 155 38,242 -6.5% 23,723 14,941
Dirty

55K MED-USG 150.0 34,048 155.0 36,526 -6.8% 21,089 12,642 TC2 TC4 TC6 TC1 CLEAN - WS RATES
240
50k CARIBS-USAC 170.0 35,742 147.5 30,210 18.3% 25,521 15,083 220
200
180
WS poi nts

160
140
TC Rates 120
100
$/day Week 5 Week 4 ±% Diff 2014 2013 80
60
300k 1yr TC 45,000 45,000 0.0% 0 28,346 20,087
VLCC
300k 3yr TC 40,000 40,000 0.0% 0 30,383 23,594
150k 1yr TC 32,000 32,000 0.0% 0 22,942 16,264
Suezmax
150k 3yr TC 30,000 30,000 0.0% 0 24,613 18,296
110k 1yr TC 23,000 23,000 0.0% 0 17,769 13,534 Indicative Market Values ($ Million) - Tankers
Aframax
110k 3yr TC 23,000 23,000 0.0% 0 19,229 15,248
Vessel 5yrs old Jan-15 Dec-14 ±% 2014 2013 2012
75k 1yr TC 20,250 20,250 0.0% 0 16,135 15,221
Panamax VLCC 300KT DH 79.8 77.0 3.6% 73.6 56.2 62.9
75k 3yr TC 18,000 18,000 0.0% 0 16,666 15,729
52k 1yr TC 15,000 15,000 0.0% 0 14,889 14,591 Suezmax 150KT DH 58.4 56.5 3.4% 50.2 40.1 44.9
MR
52k 3yr TC 15,250 15,250 0.0% 0 15,604 15,263 Aframax 110KT DH 44.5 42.0 6.0% 38.6 29.2 31.2
Handy 36k 1yr TC 13,750 13,750 0.0% 0 14,024 13,298 LR1 75KT DH 34.8 32.9 5.9% 32.8 28.0 26.7
size 36k 3yr TC 14,000 14,000 0.0% 0 14,878 13,907 MR 52KT DH 25.5 24.4 4.6% 27.2 24.7 24.6

Chartering Sale & Purchase


The crude carriers market moved sideways for a second week in a row, In the Suezmax sector, we had the en-bloc sale of the “CHAPTER GEN-
while the further stabilizing of bunker prices meant excess downward pres- TA” (156,480dwt-blt 11, China) and the “ROXEN STAR” (156,436dwt-blt 09,
sure on TCE in those instances where the market was softer. Despite the China) , which was picked up by Norwegian owner Frontline, for a US$
fact that during the week prior overall activity boosted hopes that an equal- 49.7m and US$46.3m respectively.
ly busy week was on the way, it seems that charterers started taking their In the Chemical sector we had the sale of the “RAISSA” (17,803dwt-blt 14,
time in regards to mid-February dates. Despite this further slight softening, China), which was sold to Nigerian owner Shorelink for a price of $18.0m.
sentiment is still positive for the tanker market, while the sustained in-
creased volume of period activity is also expected to keep supporting rates.
The VL market softened on the back of a less busy MEG last week, while
period activity was slightly down despite the fact that overall enquiry re-
mains at high levels.
Rates for Suezmaxes outperformed the rest of the market last week, with
activity in the WAF region firming and providing substantial support to
rates. European demand is expected to keep supporting Suezmax rates in
the short term, while Black Sea/Med enquiry is expected to remain strong.
Rates for Aframaxes remained under pressure in the Baltic, with tonnage
supply in the region being in excess of fresh business coming through, while
the Caribs Afra shed more WS points for a second week in row, as despite
the fact that enquiry was firm, it couldn't match the tonnage that was look-
ing for cover in the region.

© Intermodal Research 03/02/2015 2


Dry Market
Baltic Indices Indicative Period Charters
Week 5 Week 4
Point $/day 2014 2013 - 3 to 5 mos - 'MARITIME LONGEVITY ' 2013 61,436dwt
30/01/2015 23/01/2015
Diff ±% - Lianyungang prompt - $ 9,500/day - Trafigura
Index $/day Index $/day Index Index
BDI 608 720 -112 1,097 1,205 - 4 to 6 mos - 'QI XIANG 5' 2007 21,400dwt
BCI 679 $6,707 887 $8,096 -208 -17.2% 1,943 2,106 - Busan 5/10 Feb - $ 5,500/day - Safe Ocean
BPI 508 $4,060 685 $5,465 -177 -25.7% 960 1,186
Baltic Indices
BSI 585 $6,119 650 $6,794 -65 -9.9% 937 983
4,500 BCI BPI BSI BHSI BDI
BHSI 340 $5,141 380 $5,732 -40 -10.3% 522 562 4,000
3,500
3,000

Index
2,500
2,000
1,500
Period 1,000
500
Week Week 0
$/day ±% Diff 2014 2013
5 4
170K 6mnt TC 8,750 9,250 -5.4% -500 22,020 17,625
Capesize

170K 1yr TC 11,000 11,500 -4.3% -500 21,921 15,959


170K 3yr TC 11,500 11,500 0.0% 0 21,097 16,599
Average T/C Rates
76K 6mnt TC 7,750 8,000 -3.1% -250 12,300 12,224
Handysize Supramax Panamax

45,000 AVR 4TC BCI AVR 4TC BPI AVR 5TC BSI AVR 6TC BHSI
76K 1yr TC 8,000 8,250 -3.0% -250 12,259 10,300 40,000
76K 3yr TC 10,500 10,750 -2.3% -250 13,244 10,317 35,000
30,000
55K 6mnt TC 8,000 8,500 -5.9% -500 12,008 11,565
25,000
$/day

55K 1yr TC 8,250 8,750 -5.7% -500 11,589 10,234 20,000


55K 3yr TC 8,500 8,750 -2.9% -250 11,585 10,482 15,000
10,000
30K 6mnt TC 7,000 7,250 -3.4% -250 9,113 8,244 5,000
30K 1yr TC 7,250 7,250 0.0% 0 9,226 8,309 0
30K 3yr TC 7,750 8,000 -3.1% -250 9,541 8,926

Chartering
Indicative Market Values ($ Million) - Bulk Carriers
They say a picture is worth a thousand words and in this instance just one
look at the tables above is enough to understand the great pressure the Vessel 5 yrs old Jan-15 Dec-14 ±% 2014 2013 2012
Dry Bulk market remains under. The BDI has now fallen to below 600 Capesize 180k 38.1 39.9 -4.5% 47.3 35.8 34.6
points, a level close to the index's historic low and one that leaves very little Panamax 76K 19.6 20.1 -2.6% 24.5 21.3 22.7
hope that the market could witness a significant rebound before the end of Supramax 56k 20.5 21.1 -3.0% 24.7 21.5 23.0
the first quarter. In regards to the following weeks we expect further down-
Handysize 30K 16.5 17.0 -2.9% 19.5 18.2 18.2
ward pressure as owners ballasting in the East will most probably accept
further discounts in order to “avoid” fixing in an even quieter market dur- Sale & Purchase
ing the Chinese New Year holidays season.
In the Panamax sector, we had the sale of the “MARITIME TABO-
Rates for Capes succumbed to the pressure that started building up at the NEO” (76,302dwt-blt 04, Japan), which went to Greek owner Cyprus Mari-
end of the week prior and quickly gave up a significant portion of the re- time, for a price of $ 10.7m.
cently upside gained. Enquiry in both the Atlantic and Pacific remains very
In the Handysize sector we had the sale of the “ATLANTIC
quiet while market talk that there are signs of the majors slowly returning
PEARL” (33,399dwt-blt 10, Japan), which was sold to Greek buyers for
back into action have not been confirmed so far.
$16.0m.
Both rates and activity continue to soften in the Panamax segment as well.
NoPac rounds were still very short in supply at the end of last week, while
more frequent cargoes to India were providing some support to rates in the
region. The Atlantic Panamax has at the same time seen numbers well be-
low $ 4,000/day with further discounts being noted in the period market as
well.

Atlantic Handy/Handymax/Supra business is still facing very low rates with


light activity persisting for yet another week, while the market in the Far
East is currently paying slightly better numbers, although we don’t expect
the resistance there to hold much further.

© Intermodal Research 03/02/2015 3


Secondhand Sales
Tankers
Size Name Dwt Built Yard M/E SS due Hull Price Buyers Comments
JIANGSU
SUEZ CHAPTER GENTA 156,480 2011 RONGSHENG SHIP, MAN-B&W Ma r-16 DH $ 49.7m
Chi na Norwegi a n
JIANGSU (Frontli ne)
SUEZ ROXEN STAR 156,436 2009 RONGSHENG SHIP, MAN-B&W Jul -14 DH $ 46.3m
Chi na

PROD/ VIANA DO CASTELO,


FS PHILIPPINE 19,117 2005 Ma K DH undi s cl os ed xs $ 12.0m
CHEM Portuga l

SAINTY
PROD/ Ni geri a n
RAISSA 17,803 2014 SHIPBUILDING YI, MAN-B&W DH $ 18.0m
CHEM (Shorel i nk)
Chi na
ZHEJIANG US ba s ed (Si no-
PROD/
RONG ZHOU 13,898 2010 RICHLAND SHIP, MAN-B&W Jul -15 DH $ 10.5m Gl oba l Shi ppi ng
CHEM
Chi na Ameri ca )

PROD/ HITACHI ZOSEN -


OCEAN MORAY 13,500 1996 Wa rts i l a Ma r-16 SH $ 2.5m Chi nes e
CHEM MAIZUR, Ja pa n

CAPTAIN NIKOLAS ZHEJIANG TIANSHI


SMALL 5,887 2009 Ya nma r DH
I SHIPB, Chi na

ZHEJIANG
Chi nes e en-bl oc Greek
SMALL NEPHELI 3,416 2009 HONGGUAN SHIP, DH bi tumen ca rri ers
Std. Type undi s cl os ed (Newl ea d)
Chi na

ZHEJIANG LINHAI Chi nes e


SMALL M/T SOFIA 2,888 2008 Apr-18 DH
HAIFEN, Chi na Std. Type

Bulk Carriers
Size Name Dwt Built Yard M/E SS due Gear Price Buyers Comments
IMABARI
MARITIME 4 X 30t Greek (Cyprus
PMAX 76,302 2004 MARUGAME, B&W Ma r-19 $ 10.7m
TABONEO CRANES Ma ri time)
Ja pa n

HYUNDAI HEAVY 4 X 25t


HMAX ANASSA 43,246 1994 B&W Ma y-17 $ 3.8m Mi ddl e Ea s tern
INDS - U, S. Korea CRANES

OSHIMA
4 X 25t
HMAX GEETA 42,469 1990 SHIPBUILDING, Sul zer Feb-15 $ 2.8m undi s cl os ed SS due
CRANES
Ja pa n

SHIN KOCHI, 4 X 30t


HANDY ATLANTIC PEARL 33,399 2010 Mi ts ubi s hi $ 16.0m Greek
Ja pa n CRANES

IMABARI 4 X 30,5t
HANDY BIRCH 4 25,369 2000 B&W Aug-17 $ 5.4m undi s cl os ed
IMABARI, Ja pa n CRANES

© Intermodal Research 03/02/2015 4


Secondhand Sales
Containers
Size Name Teu Built Yard M/E SS due Gear Price Buyers Comments
KVAERNER
SUB 3 X 45t
ULF RITSCHER 2,524 2001 WARNOW, B&W $ 7.9m Greek (Lomar)
PMAX CRANES
Germany
HUDONG
3 X 45t
FEEDER SAMARIA 1,716 2000 SHIPBUILDING B&W Nov-15 $ 3.1m undisclosed
CRANES
GR, China
SHIN KURUSHIMA
FEEDER OCEAN EXPRESS 700 1992 B&W $ 1.5m undisclosed
AKITSU, Japan

Reefers
Name Dwt Built Yard M/E Cu Ft Gear SS due Price Buyers Comments
GDANSKA 2 X 32t
URUGUAY STAR 10587 1,993 STOCZNIA SA, Sul zer 14843 CRS,2 X 8t $ 5.0m
Pol a nd CRS
undi s cl os ed
GDANSKA 2 X 32t
CHILE STAR 10582 1,993 STOCZNIA SA, Sul zer 14775 CRS,2 X 8t $ 5.0m
Pol a nd CRS

© Intermodal Research 03/02/2015 5


Newbuilding Market
Indicative Newbuilding Prices (million$) Activity in the newbuilding market remained at the same levels last week,
Week Week with tankers and gas tankers still making up for the biggest share of the re-
Vessel ±% 2014 2013 2012 cently reported orders. In the case of tankers, there is still a clear preference
5 4
Capesize 180k 53.5 53.5 0.0% 55.8 49 47 towards VLCC and Suezmax units, while despite the overall downward trend
in newbuilding prices we are seeing that in both these segments the orders
Kamsarmax 82k 30.0 30.0 0.0% 30.4 27 28
Bulkers

that are coming through reveal a tendency for prices to go up rather than
Panamax 77k 29.0 29.0 0.0% 29.2 26 27 down. As far as dry bulk units are concerned, the situation is pretty much
Ultramax 63k 27.0 27.0 0.0% 27 25 25 unchanged, with limited ordering interest remaining the main driver behind
Handysize 38k 23.0 23.0 0.0% 23 21 22 the softening market. We expect things over at the dry bulker side to quieten
VLCC 300k 96.5 96.5 0.0% 98.6 91 96 further during February, while in terms of prices, it seems that there could
easily be some room for further discounts and as long as the freight market
Tankers

Suezmax 160k 65.0 65.0 0.0% 65 56 58


is not showing any signs of an imminent improvement that could get buyers
Aframax 115k 53.5 54.0 -0.9% 54 48 50
back into action.
LR1 75k 46.0 46.0 0.0% 45.9 41 42
MR 50k 36.5 36.5 0.0% 36.9 34 34 In terms of recently reported deals, Taiwanese owner, Sincere Navigation,
LNG 160k cbm 190.0 190.0 0.0% 186.0 185 186 has placed an order, for one firm VLCC (319,000dwt) at SWS, in China, for a
LGC LPG 80k cbm price of $ 95.0m each and delivery set in 2017.
78.5 78.5 0.0% 78.4 71 71
Gas

MGC LPG 55k cbm 68.0 68.0 0.0% 66.9 63 62


SGC LPG 25k cbm 46.0 46.0 0.0% 44.3 41 44

Tankers Newbuilding Prices (m$) Bulk Carriers Newbuilding Prices (m$)

VLCC Suezmax Aframax LR1 MR Capesize Panamax Supramax Handysize


180 110
90
140
mi l lion $
mi l lion $

70
100
50
60 30
20 10

Newbuilding Orders
Units Type Size Yard Delivery Buyer Price Comments
2 Tanker 319,000 dwt Daewoo, S.Korea 2017 Greek $ 99.0m
Taiwanese (Sincere
1 Tanker 319,000 dwt SWS, China 2017 $ 95.0m
Navigation)
2+2 Tanker 158,000 dwt Hyundai, S. Korea 2017 Egyptian (AMPTC) undisclosed product tankers
2016 Japanese(Mitsui O.S.K. ore carriers, shallow
3 Bulker 240,000 dwt Imabari, Japan $ 60.0m
onwards Lines) shaft
LNG, 25 yrs T/C to
1 Gas 177,000 cbm Mitsubishi, Japan Apr-2018 Japanese (NYK) undisclosed
Mitsui & Co.
LNG, 25 yrs T/C to
1 Gas 177,000 cbm Mitsubishi, Japan Aug-2018 Japanese (Mitsui OSK) undisclosed
Mitsui & Co.
2 MPP 12,000 dwt Zaliv Shipyard, UK 2017 Russian (Russian Navy) undisclosed

© Intermodal Research 03/02/2015 6


Demolition Market

Indicative Demolition Prices ($/ldt) The demolition market remains under pressure, with last week being another
Week Week stressful one for demo market players who have been watching prices falling
Markets ±% 2014 2013 2012 further, while as long as cheap Chinese scrap steel keeps entering the Indian
5 4
subcontinent market without any restrictions, hopes for an upward correc-
Bangladesh 420 425 -1.2% 469 422 440 tion remain futile. Nonetheless and despite the negative sentiment that still
India 420 425 -1.2% 478 426 445
Wet

prevails in the market we are witnessing an increased number of deals com-


Pakistan 425 430 -1.2% 471 423 444 ing through week over week, which means that more and more breakers are
China 245 245 0.0% 313 365 384 willing to risk and position themselves in the current market. Additionally,
Bangladesh 400 405 -1.2% 451 402 414 dry bulk owners who were previously considering the demolition option, now
India 395 400 -1.3% 459 405 419 seem more convinced and in some cases even “rushed” by the continuously
Dry

softening demo prices, especially as the performance of the market remains


Pakistan 400 405 -1.2% 449 401 416
extremely challenging. Average prices this week for wet tonnage were at
China 220 220 0.0% 297 350 365 around 245-420 $/ldt and dry units received about 220-400 $/ldt.
The highest prices amongst recently reported deals, was that paid by Bangla-
deshi breakers for the General Cargo vessel “PERUN” (12,402dwt-5,586ldt-blt
83), which received $430/ldt.

Wet Demolition Prices Dry Demolition Prices


550 Bangladesh India Pakistan China 550 Bangladesh India Pakistan China
500 500
450 450
400 400
$/l dt

$/l dt

350 350
300 300
250 250
200 200

Demolition Sales
Name Size Ldt Built Yard Type $/ldt Breakers Comments
HYUNDAI HEAVY
CAPE OSPREY 161,448 19,601 1995 BULKER $ 420/Ldt undisclosed
INDS - U, S. Korea

KOYO MIHARA,
INDIA COAL MARU 90,844 14,525 1995 BULKER $ 396/Ldt Indian
Japan

MITSUBISHI
TATIO 37,715 7,258 1985 BULKER $ 390/Ldt Indian green recycling
NAGASAKI, Japan

ALEXANDRIA SHYD.,
PERUN 12,402 5,586 1983 GC $ 430/Ldt Bangladeshi
Egypt
MITSUBISHI
HOANG SON SUN 22,835 5,302 1984 SHIMONOSEKI, BULKER $ 407/Ldt Bangladeshi
Japan
DORBYL MARINE
AQUA STAR 10,450 2,959 1992 DURBAN, South GC $ 406/Ldt undisclosed India/Pakistan.
Africa

CHOYANG PRIDE 6,016 2,040 1980 ASAKAWA, Japan TANKER $ 385/Ldt Bangladeshi

ACS 8 4,895 1,849 1984 HIGAKI, Japan TANKER $ 410/Ldt Bangladeshi

© Intermodal Research 03/02/2015 7


Commodities & Ship Finance

Market Data Basic Commodities Weekly Summary


W-O-W Oil WTI $ Oil Brent $ Gold $
30-Jan-15 29-Jan-15 28-Jan-15 27-Jan-15 26-Jan-15
Change % 60 1,350

10year US Bond 1.680 1.770 1.730 1.830 1.830 -7.2% 55 1,300

S&P 500 1,994.99 2,021.25 2,002.16 2,029.55 2,057.09 -2.8% 1,250


oil 50 gold
Stock Exchange Data

Nasdaq 4,635.24 4,683.41 4,637.99 4,681.50 4,771.76 -2.6% 1,200


Dow Jones 17,164.95 17,416.85 17,191.37 17,387.21 17,678.70 -2.9% 45 1,150
FTSE 100 6,749.40 6,810.60 6,825.94 6,811.61 6,852.40 -1.2% 40 1,100
FTSE All-Share UK 3,621.81 3,650.26 3,659.72 3,650.80 3,672.98 -1.2%
CAC40 4,604.25 4,631.43 4,610.94 4,624.21 4,675.13 -0.8%
Xetra Dax 10,694.32 10,737.87 10,710.97 10,628.58 10,798.33 -1.0%
Nikkei 17,674.39 17,606.22 17,795.73 17,768.30 17,468.52 1.2% Bunker Prices
Hang Seng 24,507.05 24,595.85 24,861.81 24,807.28 24,909.90 -1.4% W-O-W
DJ US Maritime 237.95 238.28 247.86 258.11 262.41 -8.3% 30-Jan-15 23-Jan-15
Change %
$/€ 1.13 1.13 1.13 1.14 1.12 0.7%
Rotterdam 466.0 470.5 -1.0%

MDO
$/₤ 1.51 1.51 1.51 1.52 1.51 0.5%
Currencies

¥/$ 117.56 118.25 117.59 117.78 118.54 -0.1% Houston 582.0 572.5 1.7%
$ / NoK 0.13 0.13 0.13 0.13 0.13 0.5% Singapore 476.0 479.5 -0.7%
Yuan / $ 6.25 6.25 6.25 6.24 6.25 0.3% Rotterdam 244.0 243.0 0.4%

380cst
Won / $ 1,100.45 1,100.45 1,086.75 1,078.50 1,080.45 2.1% Houston 267.5 265.5 0.8%
$ INDEX 85.93 85.87 85.49 85.08 85.66 0.6% Singapore 282.5 282.5 0.0%

Maritime Stock Data Finance News


Stock W-O-W “Euronav paying back bond
Company Curr. 30-Jan-15 23-Jan-15
Exchange Change % New York newcomer to tackle $235m bond tied to
AEGEAN MARINE PETROL NTWK NYSE USD 13.79 14.01 -1.6% Maersk Tankers VLCC fleet deal. Euronav is repaying a
BALTIC TRADING NYSE USD 1.62 1.77 -8.5% bond used to underpin its transformational purchase
of 15 VLCCs last year.
BOX SHIPS INC NYSE USD 0.92 0.81 13.6%
Wall Street’s largest VLCC owner will repay the
CAPITAL PRODUCT PARTNERS LP NASDAQ USD 9.16 8.68 5.5%
$235.5m bond around 19 February as interest on the
COSTAMARE INC NYSE USD 17.08 16.80 1.7% paper will jump to 11% 60 days after the completion
DANAOS CORPORATION NYSE USD 4.90 5.16 -5.0% of its US IPO.
DIANA SHIPPING NYSE USD 6.64 6.60 0.6% Euronav has also called for the conversion of the 30
DRYSHIPS INC NASDAQ USD 0.93 0.97 -4.1% outstanding perpetual convertible preferred equity
EAGLE BULK SHIPPING NASDAQ USD 10.25 11.61 -11.7% securities.

EUROSEAS LTD. NASDAQ USD 0.73 0.73 0.0% This will add $75m to the tanker owner’s share capi-
tal against the issue of 9,459,281 shares.
FREESEAS INC NASDAQ USD 0.08 0.08 0.0%
GLOBUS MARITIME LIMITED NASDAQ USD 2.03 2.30 -11.7% Peter Livanos, Marc Saverys and his sister Virginie,
plus Golden Tree and York Capital were the holders
GOLDENPORT HOLDINGS INC LONDON GBX 197.00 210.54 -6.4% of the convertible stock.
HELLENIC CARRIERS LIMITED LONDON GBX 23.00 26.00 -11.5% Analysts at Petercam explain the developments were
NAVIOS MARITIME ACQUISITIONS NYSE USD 3.33 3.81 -12.6% expected after the company’s New York float.
NAVIOS MARITIME HOLDINGS NYSE USD 3.63 3.96 -8.3% However, they suggest the addition 9.5 million shares
NAVIOS MARITIME PARTNERS LP NYSE USD 11.69 12.39 -5.6% returning to market may weigh on the price short
term.
PARAGON SHIPPING INC. NYSE USD 1.75 1.92 -8.9%
SAFE BULKERS INC NYSE USD 3.59 3.62 -0.8% “In addition to that, bear in mind that trends in the
industry are somewhat turning, with rates taking a
SEANERGY MARITIME HOLDINGS CORP NASDAQ USD 0.75 0.77 -2.6% pause in anticipation of Chinese NY (as expected),”
STAR BULK CARRIERS CORP NASDAQ USD 4.01 4.15 -3.4% the analysts said.
STEALTHGAS INC NASDAQ USD 5.28 5.73 -7.9%
“Post Chinese NY, we enter a period of weaker sea-
TSAKOS ENERGY NAVIGATION NYSE USD 6.90 7.77 -11.2%
sonality (Q2 &Q3), which results in lower day rates.
TOP SHIPS INC NASDAQ USD 1.04 1.09 -4.6% Strangely, rates and share price performance are still
highly correlated, despite the predictable seasonal
pattern.”.” (Andy Pierce, Trade Winds)

The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbr okers Co. believes such information to be factual and reliable without mak-
ing guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way
whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-
producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.

Compiled by Intermodal Research & Valuations Department | research@intermodal.gr


Ms. Eva Tzima | e.tzima@intermodal.gr
Mr. Vassilis Logothetis | v.logothetis@intermodal.gr
You can contact us directly by phone or by e-mailing, faxing or posting the Intermodal Shipbrokers Co.
below form completed with all your details: 17th km Ethniki Odos Athens-Lamia & 3 Agrambelis street,
Tel: +30 210 6293 300 145 64 N.Kifisia,
Fax:+30 210 6293 333-4 Athens - Greece
Email: research@intermodal.gr

Select Price in US$


Weekly Publications
Weekly Market Report Annual Subscription □ Free

Monthly Publications

Shipping Monthly Recap - free summary Annual Subscription - 12 issues □ Free

Please contact our


Shipping Monthly Recap - full report Annual Subscription - 12 issues □
department

Your Contact Details


Full Name: Title:
Company: Position:
Address:

Country: Post code:


E-mail: Telephone:
Company Website: Fax:

© Intermodal Shipbrokers Co 03/02/2015 9

Оценить