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
August 2017
M O N T H L Y R E P O R T
0
500
1000
1500
2000
2500
Au
g-1
2
Oct
-12
De
c-1
2
Feb
-13
Ap
r-1
3
Jun
-13
Au
g-1
3
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
Baltic Dry Index
PRICES TANKERS ($ MIO)
* Prices reflect Year’s End 2011* 2012* 2013* 2014* 2015* 2016* Aug-17
VLCC 5Y 55.6 56.0 55.8 77.1 80 60 63
VLCC 10Y 34.1 35.0 35.0 52.1 55 40 39
SUEZMAX 5Y 45.6 40.2 39.5 56.8 60 40 40
AFRAMAX 5Y 34.7 28.0 27.8 41.9 46 29 30
AFRAMAX10Y 19.3 16.3 16.3 26.8 31 18 20
PANAMAX5Y 30.9 24.3 24.3 33.4 35 28 26.5
47K 5Y D/H 25.8 23.0 23.3 23.8 28.9 22 23.5
45K 10Y D/H 15.8 15.5 15.7 15.2 19.6 15.5 16
45K 20Y 6.0 6.2 6.2 6.5 8.5 5.1 5.3
PRICES BULKERS ($ MIO)
* Prices reflect Year’s End 2011* 2012* 2013* 2014* 2015* 2016* Aug-17
CAPESIZE 5Y 36.3 32.0 43.9 39.5 25 24 33
CAPESIZE 10Y 26.8 20.5 31.0 27.8 13.6 15 21
CAPESIZE 15Y 15.2 12.7 18.2 16.3 8.5 8 15
CAPESIZE 20Y 10.5 9.3 10.1 9.0 5.6 5.5 7.5
KAMSARMAX 5Y♦ 26.4 18.0 25.6 20.1 14 14 21.5
PANAMAX 10Y 18.6 12.5 17.9 14.6 8.5 8.5 13.5
PANAMAX 15Y 12.4 8.3 12.0 10.0 5 5.4 9
PANAMAX 20Y 8.1 5.4 7.5 5.4 3.6 3.6 5.5
SUPRAMAX 5Y 26.4 23.3 24.3 20.8 13.6 14 16.3
SUPRAMAX 10Y 18.0 13.0 17.4 13.8 8 9.5 12.5
HANDYMAX15Y 11.1 8.7 10.9 9.1 4.5 5.8 8.5
HANDYMAX20Y 7.9 6.3 6.4 6.2 3.5 2.8 5
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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
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
Pri
ce (
US
D M
io)
Monthly Tanker Market Trend
VLCC 5Y VLCC 10Y SMAX 5Y AMAX 5Y
AMAX 10Y PMAX 5Y 47K 5Y D/H 45K 10Y D/H
0
10000
20000
30000
40000
50000
60000
70000
Pri
ce (
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
0.0
10.0
20.0
30.0
40.0
50.0
60.0
Pri
ces
(US
D M
io)
Monthly Bulk Carrier Market 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
Pri
ce (
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
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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 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Total
BULK 72 62 42 34 31 41 282
TANK 30 29 44 34 21 13 171
GAS 6 1 1 5 1 3 17
CONT 25 29 20 12 23 6 115
TWEEN/MPP 0 2 0 3 5 5 15
REEF 0 0 0 0 0 0 0
RORO 0 0 0 0 0 0 0
FERRY 0 0 1 0 0 0 1
CRUISE 0 0 0 0 0 0 0
Total 133 123 108 88 81 68 601
252
41
250
31
0
100
200
300
THIS MONTH - PREVIOUS MONTH
S&P Activity Dry(>5,000 Dwt)
AVAILABLE FOR SALE
REPORTED SOLD
PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES
117
13
140
21
0
50
100
150
THIS MONTH - PREVIOUS MONTH
S&P Activity Tankers(>5,000 Dwt)
AVAILABLE FOR SALE
REPORTED SOLD
PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES
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4
TANKER SALES
NAME DWT BLT PRICE $ BUYER
OANA 6474 2008 CHINA DH 2.8 MIO UNDISCLOSED (At auction)
SICHEM DUBAI 12936 2007 SOUTH KOREA DH 9.2 MIO VIETNAM (Epoxy, SS/DD D 12/17)
KY VENUS 13049 2010 SOUTH KOREA DH 10 MIO SINGAPOREAN (At auction)
TORM FOX 37025 2005 SOUTH KOREA DH 10.7 MIO FAR EASTERN
BETELGEUSE 45513 1999 SOUTH KOREA DH 5.25 MIO ENBLOC BSS▼
SPICA 46168 1999 SOUTH KOREA DH 5.25 MIO UNDISCLOSED (Price each)
EPIPHANY 47465 2002 CROATIA DH 8 MIO GREEK
HIGH DISCOVERY 50000 2014 SOUTH KOREA DH 28 MIO UNDISCLOSED (Incl 10 yrs BBB)
BOX 50577 2009 SOUTH KOREA DH 19.2 MIO UNDISCLOSED
MARE PACIFIC 68467 2001 JAPAN DH 6.5 MIO ENBLOC BSS▼
MARE ATLANTIC 68467 2001 JAPAN DH 6.5 MIO UNDISCLOSED (Price each)
PHOENIX LIGHT 105599 2009 SOUTH KOREA DH 23.25 MIO GREAT EASTERN SHIPPING
GENER8 PERICLES 105674 2003 JAPAN DH 11 MIO GREEK
GAS SALES
NAME DWT BLT CBM PRICE $ BUYER
EPIC CAPRI 3942 1997 JAPAN 3244 3.3 MIO VIETNAMESE (FGAS)
GALEA 72781 2002 JAPAN 135269 * ENBLOC BSS▼
GALLINA 72781 2002 JAPAN 135269 40 MIO FAR EASTERN (Ttl price)
421
857
634
320
420
520
620
720
820
920
27 30 33 36 39 42 45 48 51 2 5 8 11 14 17 20 23 26
WEEK NO
Baltic Clean Tanker - Yearly
20172016
514
1048
653
400
500
600
700
800
900
1000
1100
27 30 33 36 39 42 45 48 51 2 5 8 11 14 17 20 23 26
WEEK NO
Baltic Dirty Tanker - Yearly
20172016
543
511
648
450
500
550
600
650
700
750
01/08/2017 08/08/2017 15/08/2017 22/08/2017 29/08/2017
Baltic Clean Tanker - Monthly
632
621
667
580
600
620
640
660
680
700
01/08/2017 08/08/2017 15/08/2017 22/08/2017 29/08/2017
Baltic Dirty Tanker - Monthly
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5
798010330
64500
10000
20000
30000
40000
50000
60000
70000
Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17
$/D
ay
Spot Market - Tankers
VLCC
SUEZMAX
AFRAMAX
27000
18000
14500
10000
15000
20000
25000
30000
35000
Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17
$/D
ay
Period Market - Tankers 1 Year T/C
VLCC
SUEZMAX
AFRAMAX
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6
BULKER SALES
NAME DWT BLT GEAR PRICE $ BUYER
KAVAFIS 7300 2007 CHINA GLESS 2 MIO UNDISCLOSED
TEAMWORTH NO. 2 22631 2012 CHINA CR 3X30.5 4.91 MIO ENBLOC BSS▼
TEAMWORTH NO. 1 22733 2011 CHINA CR 3X30.5 4.85 MIO CHINESE (Price each)
NICOLINA 24159 1997 JAPAN CR 3X30 2.57 MIO UNDISCLOSED
PACIFIC STAR 28251 1996 JAPAN CR 4X30.5 3.1 MIO CHINESE
VOULA SEAS 28495 2002 JAPAN CR 4X30 5.3 MIO CHINESE (SS passed during May)
CAPETAN VASSILIS 51196 2003 CHINA CR 4X30 6.9 MIO CHINESE BUYERS (Open hatch)
OCEAN PROMISE 51687 2010 JAPAN CR 4X30 11.9 MIO UNDISCLOSED
LIBERTY PRRUDENCIA 52191 2003 KOREA CR 4X30 3.5 MIO UNDISCLOSED (Basis ‘as is’ China in
need of repairs and other
outstandings)
ATA-M 53098 2003 JAPAN CR 4X30 8 MIO FAR EASTERN
PRIVSEA 55000 2007 CHINA CR 4X31 9.5 MIO UNDISCLOSED
OCEAN HAWK I 56039 2007 JAPAN CR 4X30 12.5 MIO UNDISCLOSED
OCEAN LEADER 56136 2010 JAPAN CR 4X30 14.5 MIO GREEK
PACIFIC KOREA 56452 2012 CHINA CR 4X35 12 MIO UNDISCLOSED
IN SHIMANAMI 61392 2014 JAPAN CR 4X30.5 18.6 MIO OLDENDORFF CARRIERS
IN IWAGI 61411 2014 JAPAN CR 4X30.5 18.6 MIO OLDENDORFF CARRIERS
TIGER BEEJING 63493 2015 CHINA CR 4X30 * ENBLOC BSS▼
TIGER HONGKONG 63570 2015 CHINA CR 4X30 * ENBLOC BSS▼
TIGER TIANJIN 63592 2015 CHINA CR 4X30 * ENBLOC BSS▼
TIGER ZHEJIANG 64000 2015 CHINA CR 4X30 80 MIO UNDISCLOSED (Ttl price)
TIGER SHANGHAI 63514 2014 CHINA CR 4X30 19 MIO ENBLOC BSS▼
TIGER ANHUI 63542 2014 CHINA CR 4X30 19 MIO GREEK (Price each)
QC ATHINA 72917 2000 KOREA GLESS 7.3 MIO UNDISCLOSED
492
466
482
440
450
460
470
480
490
500
01/08/2017 08/08/2017 15/08/2017 22/08/2017 29/08/2017
Baltic Handysize
779759
851
700
750
800
850
900
01/08/2017 08/08/2017 15/08/2017 22/08/2017 29/08/2017
Baltic Supramax
1143
1310
1195
1000
1050
1100
1150
1200
1250
1300
1350
1400
01/08/2017 08/08/2017 15/08/2017 22/08/2017 29/08/2017
Baltic Panamax
1331
2093
2381
1000
1500
2000
2500
3000
01/08/2017 08/08/2017 15/08/2017 22/08/2017 29/08/2017
Baltic Capesize
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PRIVATLANTIC 75051 2012 JAPAN GLESS 18.5 MIO UNDISCLOSED
FORTUNE EAST 75615 2000 JAPAN GLESS 5.2 MIO CHINESE
LEVANTES 75900 2001 JAPAN GLESS 8.2 MIO CHINESE
STAR OF SAWARA 76553 2008 JAPAN GLESS 13.5 MIO UNDISCLOSED
ABY DIVA 76596 2007 JAPAN GLESS 12.7 MIO GREEK (SS passed in March)
FORTUNE CLOVER 77430 2006 JAPAN GLESS 11.9 MIO UNDISCLOSED
UNICORN OCEAN 78888 2008 JAPAN GLESS 15 MIO GREEK (BBHP 5 YRS)
MIDLAND SKY 81466 2010 JAPAN GLESS 18 MIO SONGA BULK
HB PRINCESS 81684 2013 CHINA GLESS 17 MIO UNDISCLOSED (Bank sale)
GODDESS SANTOSH
DEVI 81918 2014 JAPAN GLESS 22.75 MIO SONGA BULK
UNITED WORLD 82026 2013 JAPAN GLESS 21.5 MIO JP MORGAN GLOBAL
MARITIME
HARBOR HIROSE 83494 2011 JAPAN GLESS 19.3 MIO SONGA BULK
BOAVISTA 93077 2010 CHINA GLESS 14.3 MIO OLDENDORFF CARRIERS
TRANS NANJING 93226 2011 CHINA GLESS 15.75 MIO FAR EASTERN
ASTERIX 178978 2010 KOREA GLESS 29.5 MIO GREEK (Part shares-Part cash)
CAPE LIBERTY 185897 2005 JAPAN GLESS 19 MIO GOODBULK/CTM
SHANDONG DA CHENG 402285 2012 KOREA GLESS 90.8 MIO BANK OF COMMUNICATIONS (Incl 12YRS T/C)
SHANDONG DA DE 402303 2011 KOREA GLESS 87.2 MIO BANK OF COMMUNICATIONS (Incl 12YRS T/C)
20150
11200
6750
0
5000
10000
15000
20000
25000
Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17
$/D
ay
Spot Market - BulkersCAPESIZE
PANAMAX
HANDYMAX
16500
11000
7750
4100
6100
8100
10100
12100
14100
16100
18100
Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17
$/D
ay
Period Market - Bulkers 1 Year T/CCAPE
PMAX
HANDYMAX
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8
CONTAINER SALES
NAME DWT BLT GEAR TEU PRICE $ BUYER
ORIENT SPIRIT 8713 1995 JAPAN CR 2X36 500 1.5 MIO FAR EASTERN
KAPALUA KONTOR 13750 2007 CHINA GLESS 1118 3 MIO ENBLOC BSS▼
PINE VALLEY KONTOR 13809 2008 CHINA GLESS 1118 3 MIO UNDISCLOSED (Price
each)
CHINDWIN STAR 20058 1996 GERMANY CR 2X40 1512 2.75 MIO SINGAPORIAN
HANSA NORDBURG 23493 2002 CHINA GEARLESS 1740 3.5 MIO UNDISCLOSED
EURO MAX 39307 2002 POLAND CR 3X45 2732 5.4 MIO UNDISCLOSED
HS CHOPIN 46344 2007 KOREA GEARLESS 3768 9 MIO QATAR NAVIGATION
SEASPAN GROUSE 51653 2009 KOREA GLESS 4275 9.7 MIO ENBLOC BSS▼
SEASPAN KENYA 51733 2008 KOREA GLESS 4275 9.7 MIO ENBLOC BSS▼
SEASPAN MOURNE 51733 2009 KOREA GLESS 4275 9.7 MIO ENBLOC BSS▼
SEASPAN ALPS 51750 2009 KOREA GLESS 4275 9.7 MIO GERMAN (Price each)
CLIVIA 55490 2004 KOREA GLESS 4239 8 MIO SIMATECH SHIPPING
ATLANTIC ALTAIR 66939 2005 KOREA GLESS 5075 8.7 MIO GREEK
ACE SPAIN 67009 2004 JAPAN GLESS 5928 9 MIO UNDISCLOSED
ANL WOOMERA 86017 2005 KOREA GLESS 5060 7.5 MIO ENBLOC BSS▼
MARGRIT RICKMERS 68042 2005 KOREA GLESS 5060 7.5 MIO ENBLOC BSS▼
JULIETTE RICKMERS 68168 2005 KOREA GLESS 5060 7.5 MIO CHINESE (Price each)
PINEHURST KONTOR 68187 2004 KOREA GLESS 5050 6.85 MIO CHINESE
MPP/TWEEN SALES
NAME DWT BLT GEAR TEU PRICE $ BUYER
RICKMERS
JAKARTA 29822 2003 CHINA
CR 2X320 -
1X100 - 1X45 1888 * ENBLOC BSS▼
RICKMERS
DALIAN 29827 2004 CHINA
CR 2X320 -
1X100 - 1X45 1888 * ENBLOC BSS▼
RICKMERS NEW
ORLEANS 29878 2003 CHINA
CR 2X320 -
1X100 - 1X45 1888 * ENBLOC BSS▼
RICKMERS
SINGAPORE 30018 2003 CHINA
CR 2X320 -
1X100 - 1X45 1888 * ENBLOC BSS▼
RICKMERS
SEOUL 30151 2003 CHINA
CR 2X320 -
1X100 - 1X45 1888 35 MIO GERMAN (Ttl price)
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9
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 2017 2018 2019+ Total
Capesize 28 54 44 126
Panamax 45 56 42 143
Supra/Hmax 97 51 23 173
Handies 85 69 26 180
Total 255 230 135 620
Ship Type 2017 2018 2019+ Total
ULCC/VLCC 17 48 25 90
Suezmax 27 31 10 68
Aframax 36 58 39 133
Panamax 19 17 7 43
MR+Small 94 129 103 326
Total 193 283 184 660
Ship Type 2017 2018 2019+ Total
VLGC 10 8 13 33
LGC 0 0 0 0
MR 4 13 4 21
Handy 7 5 1 13
Small 2 2 0 4
Total 23 28 18 69
81
54
43
33.5
20
40
60
80
100
Aug-15 Dec-15 Apr-16 Aug-16 Dec-16 Apr-17 Aug-17
$m
Tanker Prices VLCC Suezmax
Aframax MR
42.5
24.5
2321
10
15
20
25
30
35
40
45
50
55
Aug-15 Dec-15 Apr-16 Aug-16 Dec-16 Apr-17 Aug-17
$m
Bulker Prices Capesize Panamax
Supramax Handysize
www.atheniansa.gr ATHENIAN SHIPBROKERS S.A.
10
398
79
130
235
47
108
208
80
30
0
100
200
300
400
500
2015 2016 Aug-17
No
. o
f V
es
se
ls
Newbuilding Sales Tankers >10,000 dwt
Bulkers >10,000 dwt
Containerships
19.9
23.8
17.2
12.8
26.6
12.7
0
5
10
15
20
25
30
Aug-17 2018 2019+
m. d
wt
Delivery Schedule Bulkers >10,000 dwt.
Tankers >10,000 dwt
28.1
10.7
15.1
3.2
11.2
0
5
10
15
20
25
30
August 2017
m.
dw
t
Tanker Newbuildings on Order VLCC Suezmax
Aframax Panamax
Products
32.1
11.810.5
6.4
0
5
10
15
20
25
30
35
August 2017
m. d
wt
Bulker Newbuildings on Order Capesize Panamax
Handymax Handysize
Newbuilding Historical Prices ($m)
Tankers Jul-17 2016 2015 2014 2013 2012 2011 2010 2008 2005 2000 1995 1990 1985
320,000 DWT1 81 84.5 93.7 97.3 93.8 93.2 98.9 104.8 150 120 76.5 85.3 87.4
2 38.2
170,000 DWT1 54 54.5 63 65.5 59.6 57.1 60.3 66.3 90 71.5 52.5 54 66.1
2 28.2
115,000 DWT1 43 44.5 52 53.6 52.2 48.5 52.2 56 74 58 41.5 43.3 53.2
2 18.1
47,000 DWT1 33.5 32.5 35.4 36.8 34.6 33.8 35.2 36.1 46.5 43 29.5 33.2
3 32.1
3 13.3
Bulkers
180,000 DWT1 42.5 42 46 54.2 53.6 45.7 48.4 57.2 87 58.5 40.5 42.3 60.2 29.3
81,000 DWT1 ♦
24.5 24.5 25.7 29 27.8 25.6 28.7 34.3 45.5 36 22.5 27.9 30 13.4
62,000 DWT♦ 23 22.3 24.1 27.2 26.5 23.7 26.7 31.1 41 31 20.5 24.1 25.3 12.4
35,000 DWT♦ 21 19.5 20.3 22.8 22.2 20.5 22.2 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)
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11
The Shipbuilding Market TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES
Bulk 208000 CSBC (Kaohsiung) 2019 China Steel Express
Bulk 208000 CSBC (Kaohsiung) 2019 China Steel Express
Bulk 85000 Oshima Shipbuilding 2020 Foremost Maritime
Bulk 85000 Oshima Shipbuilding 2020 Foremost Maritime
Bulk 20500 Fujian Southeast SB 2019 Fujian Anda Shpg
Chem & Oil 7950 AVIC Dingheng SB 2019 SOCATRA
Chem & Oil 7950 AVIC Dingheng SB 2019 SOCATRA
Chem & Oil 7950 AVIC Dingheng SB 2019 SOCATRA Option
Container 37000 Zhejiang Ouhua SB 2019 Cape Shipping
Container 37000 Zhejiang Ouhua SB 2019 Cape Shipping
Container 12000 Dae Sun Shipbuilding 2018 SITC
Container 12000 Dae Sun Shipbuilding 2018 SITC
Container 12000 Dae Sun Shipbuilding 2018 SITC
Container 12000 Dae Sun Shipbuilding 2019 SITC
Container 12000 Dae Sun Shipbuilding 2019 SITC
Container 12000 Dae Sun Shipbuilding 2019 SITC
Container 30000 Keppel AMFELS 2020 Pasha Hawaii
Container 30000 Keppel AMFELS 2020 Pasha Hawaii
Container 30000 Keppel AMFELS 2021 Pasha Hawaii Option
Container 30000 Keppel AMFELS 2021 Pasha Hawaii Option
Crew Boat Grandweld 2018 KSC
Crew Boat Grandweld 2018 KSC
Crew Boat Grandweld 2018 KSC
Crew Boat Grandweld 2019 KSC
LPG 55000 Hyundai HI (Ulsan) 2019 Vitol Group
LPG 55000 Hyundai HI (Ulsan) 2019 Vitol Group
LPG 55000 Hyundai HI (Ulsan) 2020 Vitol Group Option
LPG 55000 Hyundai HI (Ulsan) 2020 Vitol Group Option
LPG 55000 Hyundai HI (Ulsan) 2020 Vitol Group Option
LPG 55000 Hyundai HI (Ulsan) 2020 Vitol Group Option
LPG 55000 Hyundai HI (Ulsan) 2020 Vitol Group Option
LPG 55000 Hyundai HI (Ulsan) 2020 Vitol Group Option
Pass/Car Cat Austal Pty.Ltd 2020 Fjord Line AS
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D E M O L I T I O N M A R K E T
Demolition Historical Data
330 325365
395355 350
380405
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* 2014 2015
2016 2017
*India month's end prices
315 315350
380
340 335355
385
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*2014 2015
2016 2017
*India month's end prices
25.6
14.5
4.92.35
4.6 3.8
15.916.718.9
15.518
15.6
25
30.5
22.4
28.428.5 27
105.5 6.5 5
12
28.925.7
31.58
50.3
41.8
34.338.8
44.6
23.6
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 385 /lt Ldt USD 405 /lt Ldt
Bangladesh USD 395 /lt Ldt USD 415 /lt Ldt
Pakistan USD 390 /lt Ldt USD 400 /lt Ldt
China USD 260 /lt Ldt USD 270 /lt Ldt
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13
HISTORICAL DEMOLITION PRICES (*Indian Year’s End)
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 CURR.
TANK 136 174 135 174 262 362 302 405 507 287 338 485 482 405 435 425 300 300 405
BULK 143 170 135 181 267 381 332 392 472 268 328 437 456 375 410 400 285 280 385
India
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
CONT MANDRAKI 60639 1988 23451 385 As is Singapore incl. 500t bunkers,
green recycling.
GAS SUN ARIES 50357 1991 16761 395 As is Khor Fakkan with 500t of
bunkers
REEF BALTIC MERCHANT 11055 1988 5973 405
TANK ARMADA INTREPID 152630 1998 42325 335 As is Batam under tow for
guaranteed HK SOC green
recycling
TANK FPSO OPPORTUNITY 149494 1972 35097 320 As is Johor under tow for
guaranteed HK SOC green
recycling
Bangladesh
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK TAIO COSMOS 43524 1988 8592 356
BULK GORNOZAVODSK 4705 1991 2461 365
BULK GRACE OCEAN 17792 1986 4470 360
BULK THORCO SAPPHIRE 10037 2004 4470 360
BULK JENWIN III 8844 1981 2474 345
BULK FRISIA 13920 1985 10536 422 As is Colombo
COMBO KARADENIZ POWERSHIP
ESRA SULTA 109906 1996 18500 410
GAS PP 2 1123 1985 310
RORO HYUNDAI NO.107 12939 1987 11992 430
RORO PEARL VI 4824 1988 9296 352
RORO ATLANTIC OCEAN 18820 1993 8920 402 With about 300t bunkers rob
TANK BORNEO PIONEER 16937 1988 4543 403 Including 86t sus316 solid stst and
13t of sus 304
TANK JADE PALMS 298306 1995 42802 390 As is Singapore
TANK EAGLE BOSTON 99328 1996 16726 389
TANK SANMAR SERENADE 45696 1992 8254 382 As is Colombo with 200t of bunkers
TANK PERSIA 19990 1984 6540 371
TANK MARAN CENTAURUS 300294 1995 40894 403 As is Singapore
TANK Q.T. ONE 38864 1987 9616 371
0
100
200
300
400
500
600
US
D/t
on
Historical Demolition Prices (India Year's End)
TANKERS
BULKERS
Avg. Trend
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14
TANK B.P.P. 25 2391 1979 1022 310
TANK HADIYAH 121109 1989 20147 400 As is Kuwait
TWEEN OCEAN GRACE 20949 1976 4470 360
China
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK FU MIN 72437 1997 10185 270
BULK YONG LI 74382 2001 9910 270
Pakistan
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK BERGE YOTEI 172846 1997 21000 425
COMBO E.OLDENDORFF 78488 1982 17357 380
Turkey
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
N/A N/A
Other
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
CONT ALEXANDRA RICKMERS 30781 1997 11400 380 As is Port Said
TANK NADIN 298731 1996 42403 382 As is Singapore
TANK KEROS WARRIOR 103368 2000 14364 393 As is Singapore
TANK EAGLE COLUMBUS 107166 1997 16711 405 As is Singapore . Gas free for Hot
Works
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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 Fujeirah 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
Aug-17 303 490 305 550 299 502
0
100
200
300
400
500
600
700
800
US
D/t
on
Bunkers Cost (380 cst)
Rotterdam
Fujeirah
Houston
Average Trend
0
200
400
600
800
1000
1200
US
D/t
on
Bunkers Cost (MGO)
Rotterdam
Fujeirah
Houston
Average Trend
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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 0.61575 0.92329 0.00703 0.8072 0.77381 0.6143
CAD 1.62356 1 1.49919 0.1141 1.31069 1.25652 0.99751
EUR 1.08287 0.66685 1 0.00761 0.87422 0.83804 0.66532
JPY 142.23 87.59 131.33 1 114.82 110.07 87.38
CHF 1.23849 0.76269 1.14363 0.00871 1 0.95847 0.7609
USD 1.29211 0.79573 1.19312 0.00908 1.04311 1 0.79387
AUD 1.6273 1.00216 1.50272 0.1144 1.31371 1.25941 1 * 31/08/2017 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
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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 3.52 3.65 -3.6 4.00 2.73
Diana Shipping Inc. DSX 3.97 3.90 1.8 6.20 2.21
Dryships Inc. DRYS 2.72 1.76 54.5 799681.62 0.98
Dynagas LNG Partners LP DLNG 14.04 14.74 -4.7 17.93 12.76
Eagle Bulk Shipping Inc. EGLE 4.53 4.35 4.1 11.16 4.06
Euroseas Ltd. ESEA 1.48 1.39 6.5 8.07 1.04
Freeseas Inc. FREEF 0.00 0.00 0 38.00 0.00
Costamare Inc. CMRE 6.27 6.57 -4.6 9.54 5.07
Navios Maritime Holdings NM 1.54 1.28 20.3 2.40 0.95
GasLog Ltd. GLOG 16.80 17.90 -6.1 18.35 12.39
Paragon Shipping Inc. PRGNF 0.04 0.47 -91.5 56.97 0.01
Safe Bulkers Inc. SB 3.24 2.65 22.3 3.34 1.09
Star Bulk Carriers Corp. SBLK 11.41 10.42 9.5 13.40 4.03
Stealthgas Inc. GASS 3.22 3.00 7.3 4.78 2.65
TEN Inc. TNP 4.50 4.91 -8.4 5.41 3.92
TOP Ships Inc. TOPS 0.57 0.33 71.2 75607.10 0.47
Box Ships Inc. TEUFF 0.03 0.13 -73.2 1.97 0.00
Diana Containerships Inc. DCIX 0.56 0.52 7.7 7694.36 0.51
Danaos Corporation DAC 1.65 2.05 -19.5 4.40 1.25
Aegean Marine Petroleum ANW 5.05 4.80 5.2 13.10 4.20 * 31/08/2017 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.