weekly shipping market report week 10 › wp-content › uploads › ... · 2017-03-10 · weekly...

WEEKLY SHIPPING MARKET REPORT - pg. 1

Market overview

The shipping industry is affected by all the major economic factors, the

unexpected strong start of Q1 with freight indexes booming has created

positivity into to the market, especially after experiencing last year one of

the worse Q1 in the history of shipping market. As mentioned above, major

economic factors can affect instantly shipping trends as few published

economic data like Dow Jones, the industrial average remained above

20.000 levers depicting a strong market, as previous week reached historical

levels up to 21.000. Thus, over this week the market continues its upward

trend as it breached above 1000 points, levels that haven't been since

10/11/2016. Today’s closing price of the main shipping index BDI is 1086

with a margin of 147 since last Friday.

Bulkers

In the bulk sector, during the beginning of the month, a growth on prices

have been spread in the air, with sellers realizing the signs of improvement

and raising their expectations on price levels. The demand for Supramax and

Handysize tonnage continues . Chinese tonnage , Feliz N which was time-

chartered to Oldendorff finally sold at $ 8.6 mil with TC attached to

undisclosed buyers that rumored to have waived inspection. In the

beginning of this week , the Japanese Navios Ionian $ 5.15 mil sold at levels

low $ 5 mil, hearing $ 5.15 mil. The momentum seems good for Greeks as

they have moved mainly for Japanese tonnage. The 2012 Post Panamax

Earnest Sky at $ 17.5 mil, also 2014 Kamsarmax United Prestige for $ 22.3

mil and Greeks rumored also as buyers for the Audrey Tracy 34k Handysize

at $ 17.4 mil. Meanwhile, 2007 Tubarao at $ 7 mil Chinese tonnage also sold

to Greeks.

Tankers

Brent is showing a decrease of $ 2.9/barrel as from last week’s closing with

todays price at $52.49 / barrel, while last week levels were at $ 55.33 /

barrel, but in any case remain steady above $ 50/barrel. In wet market, we

have realized a movement from buyers for every size of Tankers , VLCC to

smaller Handies and Gas Tankers. Far Eastern buyers, Indonesian clients of

Bumi and Chinese clients of Kunlun moved for the purchase of VLCC’s

Japanese DHT Ann of 2001 for $ 22.0 mil, in order to be used as storage and

Korean Front Circassia of 1999 for $ 18.5 mil respectively. In the Aframax

tonnage, another 2 vessels sold to undisclosed buyers with Phoenix Alpha

gaining $ 12.9 mil. MR tankers also have found buyers who are not yet

known, with Torm Anne of 1999 sold at $ 6.8 mil and Theano of 1997 sold

at $ 5.8 mil. A deal that includes 3+1+1 Years TimeCharter Back , is that of

Japanese 2011 built Fairchem Kiso 21k Dwt which sold at $21.8 mil.

Demolition

During this week, recycling activity have shown signs of growth, having in

total 14 vessels to scrapyards. 6 BC vessels, 4 more than previous week.

Containerships after the massive recycle during last year, currently seem to

slow down with only 2 vessels for this week. After silence on the wet sector

2 Tankers and 1 LPG to the beaches. Prices of subcontinent at region $ 315-

325 per ldt for Bulkers and $ 340-350 per ldt for Tanker/Containers.

Baltic Indices (Friday Closing Values)

‘’ Dry Bulk ’’

Index Week 10 Week 9 Change (%) BDI 939 856 7.31

BCI 1227 1134 5.32

BPI 1118 927 18.06

BSI 846 797 4.57

BHSI 462 420 7.94

‘’ Tanker ’’

Index Week 10 Week 9 Change (%)

BDTI 862 863 0.63

BCTI 638 612 0.35

Indicative Demolition Prices

Country Tanker Prices Bulker Prices

India 340 315

Bangladesh 350 325

Pakistan 345 320

China 280 270

Turkey 220 210

WEEKLY SHIPPING MARKET REPORT WEEK 10

WEEK 10 (3rd Mar to 10th Mar 2017)

0200400600800

10001200

Baltic Index

BDTI BCTI


Capesize

Week 10 has seen West Australian iron ore rates into China climbing in the

low/mid usd 6.00’s pmt range. South African iron ore rates into China have

climbed at low/mid usd 11.00’s pmt levels. Brazilian iron ore rates into China

have been reported at low/mid usd 14.00’s pmt levels. Pacific round trips

via Australia have been reported in the usd 14,000/16,000 pd levels. Atlantic

fronthauls at usd 19,000 pd. One year’s employments have been reported

in the usd 14,000/15,000 pd range. A two years’ employment has been

reported at usd 17,000 pd. Short period at usd 12,0000 pd levels.

Kamsarmax/Panamax

Rates for North Pacific round grain trips into the Far East have risen in the

usd 10,000/11,000 pd range. Australian round trips into China continue

rating at low usd 10,000’s levels. India direction is rating at low/mid usd

11,000’s pd basis China/Japan range delivery. Transatlantic trips rating in

the usd 10,000/11,000 pd range. An inter-Continental coal trip via the Baltic

has been reported at usd 12,000 pd. 65,000 mts of Baltic fertilizers into

China have been reported at usd 29.75 pmt. A US East Coast trip into the

Continent has been reported at usd 10,250 pd basis US Gulf delivery. South

American grain trips into the Far East are being reported in the very high

usd 10,000’s / usd 11,000 pd range plus a usd 580/600,000 ballast bonus

basis APS delivery. India and Southeast Asia delivery remains an option,

primarily in the usd 11/12,000 pd range. Short/long period employments

have been rating mostly in the usd 10,000 / 11,000 pd range.

Ultramax / Supramax

Backhaul steel trips via North China have been rating in the mid/high usd

4,000’s pd range, basis APS delivery mostly. A number of Charterers have

been there to propose a split rate agreement, with the balance of the

employment after the first 65 days being paid at low/mid usd 8,000’s pd.

India and Persian Gulf direction is paying in the usd 7,000/8,000 pd range.

Indonesian coal trips into Southeast Asia and China have been rating in the

usd 11,000/12,000 pd range, mostly basis Singapore delivery. Iranian iron

ore trips into China continue being offered in the usd 9,000/10,000 pd

range. South African coal trips into India have been rating at usd 17,000 pd

levels basis APS delivery. DOP West Coast India remains an option at low

usd 8,000’s pd levels. Continental scrap trips into Turkey have been rating

in the usd 11,000/12,000 pd range. Black Sea fronthaul trips have been

paying at usd 13,000 pd levels basis Canakkale/Marmara delivery. South

American fronthaul trips have been reported in the high usd 12,000’s / low

usd 13,000’s pd range plus a usd 300,000ish ballast bonus basis APS

delivery. Short period Atlantic delivery usd 12,000 pd levels. Short period

Pacific delivery usd 9,000/10,000 pd levels.

Handymax / Handysize

A reposition fixture for a China opening Handymax into the Continent, at

usd 5,750 pd for the first 60 days and usd 8,500 pd for the balance. Inter-

Pacific employments have been rating in the usd 7,000/8,000 pd range.

Black Sea trips into Egypt Med basis Canakkale delivery have been reported

in the mid usd 7,000’s / usd 8,000 pd range. South American trips into the

Continent are rating in the usd 10,000/12,000 pd range. Short period

employments have been reported in the usd 8,000/9,000 pd range, basis

both Atlantic and Pacific delivery.

DRY BULK COMMENTARY


0

5

10

15

20

25

Capesize

0

2

4

6

8

10

12

14

Panamax

0

2

4

6

8

10

12

14

Supramax

0

2

4

6

8

10

Handymax


Bulk Carriers

Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments

Post Panamax Earnest Sky 95,735 2012 Imabari ,

Japan 11/2017 B&W - $ 17.5 Greek

Kamsarmax United

Prestige 81,918 2014

Tsuneishi ,Japan

11/2019 B&W - $ 22.3 Greek

Kamsarmax Ncs Beijing 81,508 2009 Universal

,Japan 03/2019 B&W - $ 14.8 Undisclosed

Panamax Alessandro

Volta 76,806 2005

Sasebo , JApan

08/2020 B&W $9.75 Korean (Doriko)

Panamax Oean

Minerva 75,698 2007

Sanoyas , Japan

08/2021 B&W - $ 11.0 Undisclosed

Supramax Feliz N 57,000 2010 Taizhou Kouan

04/2020 B&W 4 x 30 T $ 8.6 Chinese

Supramax Tubarao 53,350 2007 Shanghai ,

China 03/2022 B&W 4 x36 T $ 7.0

Greek

Supramax Navios Ionian

52,067 2000 Sanoyas ,

Japan 08/2020 Sulzer 5 x 30 T $ 5.15 Chinese

Handysize Audrey-Tracey

34,874 2016 Namura ,

Japan 02/2021

B&W

4 x 30 T $ 17.4 Greek

Handysize Campanula 32,576 2007 Kanda , Japan

05/2017 Mitsubi

shi 4 x 30,5 T $ 6.6

Undisclosed

Handysize Ikan Jahan 32,326 2010 Kanda , Japan

03/2020 Mitsubi

shi 4 x 30,5 T $ 10.0

Undisclosed

Handysize Ocean

Harmony 31,882 2010

Hakodate , Japan

12/2020 Mitsubi

shi 4 x 30 T $ 9.5 Pacific

Basin

Handysize Giza I 31,842 2002 Muroran ,

Japan 09/2017

Mitsubishi

4 x 30 T $ 5.15 European

REPORTED SALES



Tankers

Type Name Dwt YoB Yard SS M/E Price(mill) Buyer Comments

Vlcc Dht Ann 309,327 2001 Hyundai Hi ,

Korea 08/2021 B&W $ 23.0

Indonesian (Bumi)

On Subs Storage Project

Aframax Phoenix Alpha 104,707 2003 Daewoo ,

Korea 01/2018 B&W $ 12.9 Undisclosed Commited

Aframax Torm Helene 100,000 1997 Hhi , Korea 06/2017 B&W Undisclosed Undisclosed Sale & Leace

Back

MR Torm Mary 46,348 2002 Stx , Korea 06/2017 B&W Undisclosed Undisclosed Sale & Leace

Back

MR Torm Anne 45,507 1999 Halla , Korea 06/2019 B&W $ 6.8 Undisclosed

MR Theano 47,198 1997 Onomichi

,Japan 10/2017 B&W $ 5.8 Undisclosed

Handy Fairchem Kiso 21,167 2011 Usuki , Japan 02/2021 B&W $ 21.8 Undisclosed Incl 3+1+1 Yrs

TCB at $14,500Per Day

GPT Asuka 6,534 2004 Higaki , Japan 08/2019 Mitsubishi $ 5.5 Undisclosed

LPG PGC Darko King 6,665 1997 Higaki , Japan 11/2017 B&W $ 4.3 Vietnamese (FGAS Petrol

Co)

LPG Gas Bangka 3,994 2010 Yamanishi ,

Japan

08/2020 B&W $ 7.0

Containers

Type Name TEU YoB Yard SS M/E Gear Price Buyer Post

Panamax Cosco Xiamen 5,800 2005 Koyo , Japan 02/2020 B&W - Undisclosed Undisclosed

Post Panamax

Cosco Dalian 5,800 2005 Koyo , Japan 02/2020 B&W -

Post Panamax

Cosco Tianjin 5,800 2005 Koyo , Japan 02/2020 B&W -

Panamax Hs Bruckner 3,534 2009 Shanghai ,

China 04/2017 B&W - $ 5.7 Undisclosed

Feeder America Feeder

584 1997 Sedef , Turkey

12/2017 MAN 2 x 40 T $ 2.0 Filipino


REPORTED SALES


Type Vessel Dwt YoB Ldt Price $ Country Comments

Tanker FPSO Marlim Sul 277.734 1974 53,000 300 “As Is” Labuan

Container Al Encore 61.441 2003 22,444 351 “As Is” Philippines

BC CSK Grandeur 170.170 2000 21,464 351 “As Is” Singapore incl.

bunkers

Tanker Kriti Amber 45.614 1995 12,450 345 “As Is” Bangladesh

BC Liwa 70.728 1995 10,640 352 Option India/Pakistan

Container Santa Fiorenza 30.007 1998 9,005 n/a Bangladesh

LPG Jo 20.640 1980 8,200 n/a India

BC Thor Hamrony 47.111 2000 7,528 345 Full Subcont

RoRo Atesbey 1.700 1983 n/a n/a Turkey

BC Kang Chang 52.828 2002 n/a n/a China

BC Kang Hing 52.828 2002 n/a n/a China

Livestock Noa 4.937 1979 n/a n/a Turkey

Offshore/Tug Ocean Rescuer 1.930 1983 n/a n/a Bangladesh

RoPax Panagia Tinou 1.050 1972 n/a n/a Turkey

DEMOLITION



Tankers

Units Type Dwt Yard Delivery Price (mill) Owner Comments

1+1 MR 50,000 Hyundai Mipo ,

Korea 2018-2019 Undisclosed Greek

2 Handy 35,500 Shin Kurushima ,

Japan 2018-2019 Undisclosed Japanese

St Steel Long T/C to

Odfjell 1 Chemical 7,000 Jiangsu Dajin , China 2018 $ 10.5 Undisclosed

Containers

Units Type Teu Yard Delivery Price (mill) Owner Comments

3 Feeder 1,750 Cosco Guangdong ,

China 2018 Undisclosed

Greek (Lomar Shp)

Option

NEWBUILDING



Bulk Carriers

Size Prompt Resale 5 years 10 years 15 years

Capesize 42 24 15 9 Panamax-Kamsarmax 25 18 12 6

Supramax 23 14.5 10 6 Handysize 19.5 12.8 7 4

Tankers

Size Prompt Resale 5 years 10 years 15 years

VLCC 80 60 40 25 Suezmax 54 41.5 26.5 15 Aframax 42 29 17.5 11

MR 32.5 22 15 10

INDICATIVE PRICES


0

20

40

60

80

Prompt Resale 5 years 10 years 15 years

80

60

4025

5441.5

26.515

4229

17.5 11

32.522

15 10

Tankers

VLCC Suezmax Aframax MR

0

20

40

60

Prompt Resale 5 years 10 years 15 years

42

2415

9

2518

126

2314.5 10 6

19.512.8

7 4

Bulk Carriers

Capesize Panamax Supramax Handysize


Currency Week 10 Week 9 Change (%) EUR / USD 1.0608 1.0564 0,42 JPY / USD 115.42 114.38 0,91 KRW / USD 1,157.40 1,156.25 0,10 NOK / USD 0.1160 0.1167 0,60

Commodity Week 10 Week 9 Change (%) Brent Crude (BZ) 52.41 55.33 5,28

WTI Crude Oil (WTI) 49.58 52.82 6,13 Natural Gas (NG) 3.00 2.81 6,76

Gold (GC) 1,197.93 1,229.20 2,54 Copper 259.10 269.30 3,79

Wheat (w) 443.00 451.75 1,94

KEY INDICATORS


0

10

20

30

40

50

60

Brent Crude

40

42

44

46

48

50

52

54

56

WTI Crude

11.021.041.061.08

1.11.121.14

EUR / USD


Stock Prices – Shipping Copanies

Company Stock Exchange Week 10 Week 9 Change (%)

Diana Shipping Ink (DSX) NASDAQ 3.71 3.86 3,89 Dry ships Ink (DRYS) NASDAQ 1.90 1.57 21,02 Euroseas Ltd (ESEA) NASDAQ 1.47 1.40 5,00

Eagle Bulk Shipping Inc (EGLE) NASDAQ 5.58 5.39 3,53 Navios Maritime (NM) NYSE 1.65 1.70 2,94

Navios Maritime PTN (NMM) NYSE 2.20 1.85 18,92 Paragon Shipping Inc (PRGN) NASDAQ 0.04 0.05 20,00 Star Bulk Carriers Corp (SBLK) NASDAQ 9.00 10.33 12,88

Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0.96 1.03 6,80 Safe Bulkers Inc (SB) NYSE 1.59 1.51 5,30

Golden Ocean (GOGL) NASDAQ 6.54 7.09 7,76

Stock Prices - Wet


Capital Product Partners LP (CPLP) NASDAQ 3.26 3.31 1,51 TOP Ships Inc (TOPS) NASDAQ 1.43 1.94 26,29

Tsakos Energy Navigation (TNP) NYSE 4.39 4.63 5,18

Stock Prices - Other


Aegean Maritime Petrol (ANW) NYSE 11.00 10.55 4,27 Danaos Corporation (DAC) NYSE 1.90 2.40 20,83

Stealth Gas Inc (GASS) NASDAQ 4.08 4.42 7,69 Rio Tinto (RIO) NYSE 39.41 41.23 4,41

Vale (VALE) NYSE 9.46 9.96 5,02 ADM Archer Daniels Midland (ADM) NYSE 44.42 45.48 2,33

BHP Billiton (BHP) NYSE 35.67 38.03 6,21

SHIPPING INDICATIVE SHARE VALUE



ADVANCED SHIPPING & TRADING S.A.

Vouliagmenis Avenue 168, 1st Floor, E-mail: [email protected]

Glyfada 16674, Greece E-mail: [email protected]

Tel: +30 210 30 03 000 E-mail: [email protected]

Fax: +30 210 30 01 305

Sale & Purchase Department: Dry Cargo Chartering Department:

Capt. Fountoglou Michalis Mob: + 30 6947 70 07 18 Bonatsos Mavra Mob: +30 6951 00 24 36

Papoutsis George Mob: + 30 6951 00 51 65 Benetos Kostas Mob: +30 6943 29 32 13

Balpakakis Manolis Mob: +30 6955 47 77 72 Tiliakos Michalis Mob: +30 6951 97 60 02

Chrousalas Thanasis Mob: +30 6355 47 77 73 Pittas Iordanis Mob: +30 6944 05 27 46

Landrakis Stelios Mob: +30 6955 47 77 74 Manessis Sophia Mob: +30 6955 19 57 42

Bilias Tasos Mob: +30 6955 47 77 71

Tsintas Kostas Mob: +30 6959 99 85 10

Kontaratos Alkis Mob: +30 6948 78 05 52

Markoutsa Kanella Mob: +30 6978 41 72 90

Operations Department: Research Department:

Katsouli Fotini Mob: +30 6955 47 77 75 Stergiou Kostas Mob: +30 6942 09 73 10

Chief Executive Consultant: Administration Department:

Capt. Galonis Dimitrios Mob: +30 6945 55 36 81 Chronopoulou Fenia Mob: +30 6932 34 94 50

‘’ THINK BIG ’’

Legal Disclaimer The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up-to-date, Advanced Shipping & Trading S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report. Research compiled by: Advanced Shipping & Trading S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: [email protected]

CONTACT DETAILS

WEEK 2 (06th Jan to 13th Jan 2017)

CONTACT DETAILS


weekly shipping market report week 10 › wp-content › uploads › ... · 2017-03-10 · weekly...

Documents