MONTHLY REPORT Baltic Dry Index · 2020-01-16 · pyxis delta 46616 2006 korea dh 13.6 mio unidsclosed liberty 46803 2004 korea dh 10.7 mio undisclosed fidelity 46803 2004 ... period

ATHENIAN SHIPBROKERS S.A. 107107107107----109, Vas. Pavlou Str., GR 166 73, Voula, Athens, Greece109, Vas. Pavlou Str., GR 166 73, Voula, Athens, Greece109, Vas. Pavlou Str., GR 166 73, Voula, Athens, Greece109, Vas. Pavlou Str., GR 166 73, Voula, Athens, Greece

Tel: +30 210 9659700 Tel: +30 210 9659700 Tel: +30 210 9659700 Tel: +30 210 9659700 ---- Fax: +30 210 8996040 Fax: +30 210 8996040 Fax: +30 210 8996040 Fax: +30 210 8996040 Email S & PEmail S & PEmail S & PEmail S & P : [email protected]: [email protected]: [email protected]: [email protected]

Email Email Email Email CharteringCharteringCharteringChartering : [email protected]: [email protected]: [email protected]: [email protected] www.atheniansa.grwww.atheniansa.grwww.atheniansa.grwww.atheniansa.gr

December 2019

M O N T H L Y R E P O R T

♦Prior 2017 76-78k dwt

0

500

1000

1500

2000

2500

De

c-1

4

Fe

b-1

5

Ap

r-1

5

Jun

-15

Au

g-1

5

Oct

-15

De

c-1

5

Fe

b-1

6

Ap

r-1

6

Jun

-16

Au

g-1

6

Oct

-16

De

c-1

6

Fe

b-1

7

Ap

r-1

7

Jun

-17

Au

g-1

7

Oct

-17

De

c-1

7

Fe

b-1

8

Ap

r-1

8

Jun

-18

Au

g-1

8

Oct

-18

De

c-1

8

Fe

b-1

9

Ap

r-1

9

Jun

-19

Au

g-1

9

Oct

-19

De

c-1

9

Baltic Dry Index

PRICES TANKERS ($ MIO)

* Prices reflect Year’s End 2013 2014 2015 2016 2017 2018 Dec-19

VLCC 5Y 55.8 77.1 80 60 64 63 75

VLCC 10Y 35.0 52.1 55 40 41 40 53

SUEZMAX 5Y 39.5 56.8 60 40 43 42 53

AFRAMAX 5Y 27.8 41.9 46 29 32 32 41

AFRAMAX10Y 16.3 26.8 31 18 22 22 30

PANAMAX5Y 24.3 33.4 35 28 28 28 30

47K 5Y 23.3 23.8 28.9 22 25 25 30

45K 10Y 15.7 15.2 19.6 15.5 17.5 17.5 19

45K 20Y 6.2 6.5 8.5 5.1 5.5 5 6

PRICES BULKERS ($ MIO)

* Prices reflect Year’s End 2013 2014 2015 2016 2017 2018 Dec-19

CAPESIZE 5Y 43.9 39.5 25 24 33 33 37.5

CAPESIZE 10Y 31.0 27.8 13.6 15 20.5 23.5 28

CAPESIZE 15Y 18.2 16.3 8.5 8 13 14 13.5

CAPESIZE 20Y 10.1 9.0 6.6 6.4 8.3 9.5 7

KAMSARMAX 5Y 25.6 20.1 14 14 22.5 23.5 23.5

PANAMAX 10Y 17.9 14.6 8.5 8.5 14.5 14.5 13.5

PANAMAX 15Y 12.0 10.0 5 5.4 11 11 9.5

PANAMAX 20Y 7.5 5.4 3.6 3.6 6.5 6.5 6

SUPRAMAX 5Y 24.3 20.8 13.6 14 17.5 17.5 17

SUPRAMAX 10Y 17.4 13.8 8 9.5 13.5 14 12.5

HANDYMAX15Y 10.9 9.1 4.5 5.8 9.5 10.5 5.5

HANDYMAX20Y 6.4 6.2 3.5 2.8 6.5 6.5 4.5

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

10

20

30

40

50

60

70

80

90

Pri

ce (

USD

Mio

)

Monthly Tanker Price Trend

VLCC 5Y VLCC 10Y SMAX 5Y AMAX 5Y

AMAX 10Y PMAX 5Y 47K 5Y 45K 10Y

0

10000

20000

30000

40000

50000

60000

70000

(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

10

20

30

40

50

60

Pri

ces

(US

D M

io)

Monthly Bulk Carrier Price 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

(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

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 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Total

BULK 64 48 74 65 36 46 333

TANK 32 46 46 86 44 32 286

GAS 4 0 2 6 2 3 17

CONT 11 7 13 7 12 16 66

TWEEN/MPP 1 1 3 3 7 5 20

REEF 0 0 0 0 0 3 3

RORO 0 0 1 0 2 0 3

FERRY 0 0 0 3 0 0 3

CRUISE 0 0 0 0 0 0 0

Total 112 102 139 170 103 105 731

270

51

310

36

0

100

200

300

400

THIS MONTH - PREVIOUS MONTH

S&P Activity Dry(>5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

180

35

210

44

0

100

200

300

THIS MONTH - PREVIOUS MONTH

S&P Activity Tankers(>5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

TANKER SALES

NAME DWT BLT PRICE $ BUYER

BLACK LEADER 4999 2008 CHINA DH 2.6 MIO MIDDLE EASTERN

ORIENTAL NADESHIKO 12480 2009 JAPAN - 10.7 MIO WOOJIN INDUSTRIAL

SUNRISE SALVIA 12990 2006 JAPAN DH 6.9 MIO INDONESIAN

CHEMBULK WELLINGTON 14312 2004 JAPAN DH 6.4 MIO UNDISCLOSED

NEW FAITH 17781 1997 JAPAN DH 2.95 MIO UNDISCLOSED

SOUTHERN JAPAN 19997 2009 JAPAN DH 14 MIO KOREAN

CHEMBULK NEW YORK 27186 2002 JAPAN - 8 MIO CHINESE

MEGACORE HOMANI 36955 2010 KOREA DH 13.1 MIO UNDISCLOSEDD

TORM LOIRE 37106 2004 KOREA DH 9.3 MIO GREEK

HARLEY 44936 1997 KOREA DH 6 MIO UNDISCLOSED

SAKURA EXPRESS 45718 2004 JAPAN - 11.5 MIO UNDISCLOSED

PYXIS DELTA 46616 2006 KOREA DH 13.6 MIO UNIDSCLOSED

LIBERTY 46803 2004 KOREA DH 10.7 MIO UNDISCLOSED

FIDELITY 46803 2004 KOREA DH 11.25 MIO UNDISCLOSED

NEW LEGEND 47037 2000 JAPAN DH 8 MIO CHINESE

LONE STAR 47355 2002 CROATIA DH 8.25 MIO UNDISCLOSED

FREJA BALTIC 47548 2008 JAPAN - 16 MIO SPRING MARINE MANAGEMENT

DS PROMOTER 70392 2002 JAPAN - 7.5 MIO GREEK

SPEED PIONEER 70514 2000 JAPAN DH 6.1 MIO UNDISCLOSED

GRACE VICTORIA 74998 2007 JAPAN DH 15.25 MIO GREEK

CABO TAMAR 105778 2004 JAPAN DH 17.5 MIO CHANDRIS

PETROPAVLOVSK 106532 2002 JAPAN DH 14 MIO UNDISCLOSED

NAVIG8 PRIDE LHJ 109991 2018 CHINA - 132 MIO OCEAN YIELD

SEAWAYS FRAN 112118 2001 KOREA DH 13.6 MIO ENBLOC BSS ▼

SEAWAYS PORTLAND 112139 2002 KOREA DH 13.6 MIO MONTE NERO MARITIME (PRICE EACH)

580 667

709

350

450

550

650

750

850

950

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

WEEK NO

Baltic Clean Tanker - Yearly

20192018

590

528636

903

450

550

650

750

850

950

1050

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

WEEK NO

Baltic Dirty Tanker - Yearly

20192018

809

879

760

810

860

910

960

02/12/2019 09/12/2019 16/12/2019

Baltic Clean Tanker - Monthly

1237

1419

1100

1200

1300

1400

1500

1600

1700

02/12/2019 09/12/2019 16/12/2019

Baltic Dirty Tanker - Monthly

JUPITER SUN 115577 2007 JAPAN - 28.7 MIO GREEK BUYERS

AEGEAN NOBILITY 115814 2007 KOREA - 22 MIO ENBLOC BSS ▼

AEGEAN BLUE 115878 2007 KOREA - 22 MIO CONCORD MARITIME (PRICE EACH)

ASHKINI SPIRIT 165209 2003 KOREA DH 19.4 MIO TRANSMED

ISKMATI SPIRIT 165293 2003 KOREA DH 19.3 MIO CHEMNAV

NEW GLOBE 296481 2009 CHINA - 38 MIO ENBLOC BSS ▼

NEW MEDAL 297556 2009 CHINA - 38 MIO TURKISH (PRICE EACH)

GAS SALES

NAME DWT BLT CBM PRICE $ BUYER

VULCAN GAS 19632 1993 KOREA 20286 8 MIO UNDISCLOSED

TIRUMALA GAS 23256 1993 KOREA 20268 5.7 MIO UNDISCLOSED

TAKAO GAS 49255 1993 JAPAN 73851 13 MIO UNDISCLOSED

95958

72857

74412

09000

18000270003600045000540006300072000810009000099000

108000

Dec-18 Feb-19 Apr-19 Jun-19 Aug-19 Oct-19 Dec-19

$/D

ay

Spot Market - TankersVLCC

SUEZMAX

AFRAMAX

36115

26515

21985

10000

15000

20000

25000

30000

35000

40000

45000

50000


$/D

ay

Period Market - Tankers 1 Year T/C

VLCC

SUEZMAX

AFRAMAX

BULKER SALES

NAME DWT BLT GEAR PRICE $ BUYER

SEA STAR 7732 1995 JAPAN 2X30, 2X25 1.1 MIO CHINESE

SIAM SUCCESS 12427 2010 JAPAN 2X30, 1X30 6 MIO ENBLOC BSS ▼

SIAM FORTUNE 12440 2011 JAPAN 2X30, 1X30 6.7 MIO UNDISCLOSED (PRICE EACH)

SEPANG EXPRESS 15154 2009 JAPAN - 18.5 MIO YAMANE SANGYO

MORNING CELLO 21059 2007 KOREA - 29.5 MIO S. KOREAN

OCEAN SHEARER 23500 2016 CHINA - 53 MIO LIVESTOCK TRANSPORT

COOS BAY 28214 2012 JAPAN 4X30 8.3 MIO SYRIAN

BRAZEN 28284 2014 JAPAN 4X30.5 9.4 MIO GERMAN

NORD TOKYO 28343 2009 JAPAN 4X30.5 7.75 MIO UNDISCLOSED

LAKE HAKOME 28496 2010 JAPAN 4X30.5 7.5 MIO UNDISCLOSED

CLIPPER TARGET 30587 2006 INDIAN 4X30 6.3 MIO ENBLOC BSS ▼

CLIPPER TRUSR 30611 2007 INDIAN 4X30 5.85 MIO VIETNAMESE BUYERS

CLIPPER TARGET 30634 2007 INDIAN 4X30 5.85 MIO (PRICE EACH)

LODESTAR PRINCESS 31901 2005 JAPAN 4X30 6 MIO VIETNAMESE

CIELO DI PISA 32248 2008 JAPAN 4X30.5 8 MIO UNDISCLOSED

SAN SEBASTIAN 32285 2007 JAPAN 4X30.5 7.9 MIO GREEK

MS CHARM 32449 2010 CHINA 4X30 5.2 MIO UNDISCLOSED

MS ATLANTIC 33200 2010 CHINA 4X25 5.25 MIO GREEK BUYERS

BIOGRAD 37729 2010 CHINA 4X30 7.9 MIO CHINESE

ZHONG CHANG 288 40000 2012 CHINA - 10.9 MIO UNDISCLOSED

COSTAS L 43929 1997 KOREA 4X30 4 MIO CHINESE

JIN MING 50354 2001 CHINA 4X35 5.5 MIO CHINA

GEORGIOS S 55725 2006 JAPAN 4X30 10 MIO VIETNAMESE

YASA IZCAN 55924 2006 JAPAN 4X30 10.6 MIO INDONESIAN

505 510

465

495

525

02/12/2019 09/12/2019 16/12/2019 23/12/2019

Baltic Handysize

828815

600

700

800

900

1000

02/12/2019 09/12/2019 16/12/2019 23/12/2019

Baltic Supramax

13261359

1050

1150

1250

1350

1450

1550

02/12/2019 09/12/2019 16/12/2019 23/12/2019

Baltic Panamax

33503167

1976

1900

2100

2300

2500

2700

2900

3100

3300

3500

02/12/2019 09/12/2019 16/12/2019 23/12/2019

Baltic Capesize

MAROUDIO 56020 2003 JAPAN 4X30 8.9 MIO INDONESIAN

TORENIA 56049 2007 JAPAN 4X30 11 MIO FAR EASTERN

BAOJI 56734 2013 CHINA 4X36 11.6 MIO GREEK

TATJANA 56758 2009 CHINA 4X35 8.9 MIO CHINESE

BAOXIANG 56810 2013 CHINA 4X30 11.6 MIO CHINESE

TENACITY BAY 56843 2008 CHINA 4X36 8.8 MIO CHINESE

IVS AUGUSTA 57689 2015 PHILIPPINES 4X30 18.4 MIO JAPANESE

DRACO OCEAN 58605 2013 CHINA 4X0.5 14.8 MIO UNDISCLOSED

URSULA 61453 2012 JAPAN 4X30.7 16.9 MIO UNDISCLOSED

TSUNEISHI ZH. SS-214 63700 2019 CHINA 4X36 28 MIO JAPANESE

QI XIANG 22 75658 2012 CHINA - 14.4 MIO CHINESE

KM IMABARI 76619 2009 JAPAN - 13 MIO GOLDEN UNION

MENARO 81061 2016 CHINA - 22.75 MIO UNDISCLOSED

GRAND THALIA 115429 2011 CHINA - 16 MIO PROFY SHIPPING

BULK HARVEST 175617 2012 CHINA - 19 MIO UNDISCLOSED

LOWLANDS ORCHID 176193 2005 JAPAN - 15.9 MIO UNDISCLOSED

GOTIA 178010 2012 CHINA - 23 MIO GREEK

TIGER LIAONING 180082 2011 CHINA - 84 MIO ENBLOC BSS ▼

TIGER SHANDONG 180091 2011 CHINA - CHINESE

TIGER JIANGSU 180096 2010 CHINA - (TTL PRICE)

TIGER GUANGDONG 180099 2011 CHINA -

AZUL FORTUNA 203095 2005 JAPAN - 15.8 EUROPEAN

12750

9875

70830

5000

10000

15000

20000

25000

30000

35000

40000


$/D

ay

Spot Market - BulkersCAPESIZE

PANAMAX

HANDYMAX

17402

11900

108818100

10100

12100

14100

16100

18100

20100

22100

24100


$/D

ay

Period Market - Bulkers 1 Year T/CCAPESIZE

PANAMAX

SUPRAMAX

CONTAINER SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

CFS PACATU 13872 2004 CHINA 2X45 1118 2 MIO UNDISCLOSED

ASTERIX 26811 2008 TURKEY - 1849 9.7 MIO MALTA

JOHANNES-S 34330 2008 CHINA 3X45 2546 7.5 MIO GERMAN

ROBIN HUNTER 54278 2010 KOREA GLESS 4380 12.2 MIO UNDISCLOSED

TINA I 67270 2004 JAPAN GLESS 5576 24.5 MIO ENBLOC ▼ (PRICE TTL)

MY NY 67270 2004 JAPAN GLESS 5576 GLOBAL SHIP LEASE

VERDI 73235 2004 KOREA - 5782 24.5 MIO ENBLOC ▼ (PRICE TTL)

STRAUSS 73235 2004 KOREA - 5782 GLOBAL SHIP LEASE

NYK LIBRA 77900 2002 KOREA - 6178 13.5 MIO ENBLOC ▼ (PRICE EACH)

NYK LYNX 77950 2002 KOREA - 6178 GLOBAL SHIP LEASE

NYK LYRA 78231 2002 KOREA - 6178

MSC ROMANE 109802 2017 CHINA - 9408 86.4 MIO ENBLOC ▼(PRICE EACH)

MSC ELMA 110103 2016 CHINA - 9408 CDB LEASING INCL 12 YRS BBB

ARISTOMENIS 118712 2011 KOREA - 9954 54.2 MIO ENBLOC ▼(PRICE EACH)

ATHENIAN 118835 2011 KOREA - 9954 CAPITAL PRODUCT PARTNERS

ATHOS 118888 2011 KOREA - 9954

MPP SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

KEN TEN 24086 1997 JAPAN 4X30 - 8 MIO ENBLOC ▼(PRICE TTL)

KEN SAN 24102 1997 JAPAN 4X30 - CHINESE

KEN YU 24115 1999 JAPAN 4X30 -

FORTUNE ERA 27369 1997 KOREA 4X30 - 3.6 MIO UAE

MARU D 34825 1978 JAPAN 5X15 396 9 MIO UNDISCLOSED

Ro-Ro SALES

NAME GT BLT Lane Mts/Cars/Pax PRICE $ BUYER

- - - - - -

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

Dry Bulk Orderbook

Ship Type 2019 2020 2021+ Total

Capesize 15 117 70 202

Kamsarmax 17 167 75 259

Supra/Hmax 18 157 70 245

Handies 13 100 32 145

Total 63 541 247 851

Tanker Orderbook


ULCC/VLCC 4 41 18 63

Suezmax 6 30 24 60

Aframax 2 26 53 81

Panamax 1 16 8 25

MR + Small 17 163 66 246

Total 30 276 169 475

LPG Orderbook


VLGC 2 30 12 44

LGC 0 0 0 0

MR 2 4 7 13

Handy 1 11 2 14

Small 1 14 7 22

Total 6 59 28 93

92

48.5

35.8

20

40

60

80

100

Dec-17 Apr-18 Aug-18 Dec-18 Apr-19 Aug-19 Dec-19

$m

Tanker Prices VLCC Suezmax

Aframax MR

50.8

27.5

26

24

15

20

25

30

35

40

45

50

55

Dec-17 Apr-18 Aug-18 Dec-18 Apr-19 Aug-19 Dec-19

$m

Bulker Prices Capesize Kamsarmax

Supramax Handysize

250 248

104

201

277

192176

245

87

0

100

200

300

Tankers Bulkers Containerships

No

. o

f V

es

se

lsNewbuilding Sales 2017 2018 Dec-19

6.2

53

27.2

3.5

27.2

18

0

10

20

30

40

50

60

Dec-19 2020 2021+

m. d

wt

Delivery Schedule Bulkers

Tankers

19.2

9.2 9

2

11

0

5

10

15

20

25

December 2019

m. d

wt

Tanker Newbuildings on OrderVLCC Suezmax

Aframax Panamax

Products

45.8

21.5

14.5

4.5

0

5

10

15

20

25

30

35

40

45

50

December 2019

m. d

wt

Bulker Newbuildings on OrderCapesizeKamsarmaxSupramaxHandysize

Newbuilding Historical Prices ($m)

Tankers Dec-19 2018 2017 2016 2015 2014 2013 2012 2010 2005 2000 1995 1990 1985

320,000

DWT1

95.6 92.4 81.5 84.5 93.7 97.3 93.8 93.2 104.8 120 76.5 85.3 87.4 2 38.2

170,000

DWT1

71.7 60.6 55 54.5 63 65.5 59.6 57.1 66.3 71.5 52.5 54 66.1 2 28.2

115,000

DWT1

55.1 48.1 44 44.5 52 53.6 52.2 48.5 56 58 41.5 43.3 53.2 2 18.1

50,000 DWT1 38.8 36.7 33.8 32.5 35.4 36.8 34.6 33.8 36.1 43 29.5 33.2

3 32.1

3 13.3

Bulkers

185,000

DWT1

51.8 50.4 44 42 46 54.2 53.6 45.7 57.2 58.5 40.5 42.3 60.2 29.3

83,000

DWT1 ♦

30.6 28.1 25.5 24.5 25.7 29 27.8 25.6 34.3 36 22.5 27.9 30 13.4

64,000 DWT♦ 27.4 26.2 24 22.3 24.1 27.2 26.5 23.7 31.1 31 20.5 24.1 25.3 12.4

35,000 DWT♦ 22.6 23.9 22 19.5 20.3 22.8 22.2 20.5 26.3 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)

The Shipbuilding Market

TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES CONT 23000 JIANGNAN SY GROUP 2022 145 EVERGREEN MARINE

CONT 23000 JIANGNAN SY GROUP 2022 145 EVERGREEN MARINE

CONT 23000 HUDONG ZHONGHUA 2022 145 EVERGREEN MARINE

CONT 23000 HUDONG ZHONGHUA 2022 145 EVERGREEN MARINE

HVY L/CRANE 6100 CMHI (JIANGSU) 2022 JAN DE NUL GROUP

PASS/CAR F. DAMEN YICHANG 2021 TIMOR-LESTE GOVT

FPSO 300000 CMHI (JIANGSU) 2023 SBM OFFSHORE

PASS/CAR F. HYUNDAI MIPO 2021 HYDEX STORAGE

FPSO 300000 SHANGHAI WAIGAOQIAO 2023 SBM OFFSHORE

ETHYL/LPG 17000 JIANGNAN SY GROUP 2022 PETREDEC

ETHYL/LPG 17000 JIANGNAN SY GROUP 2022 PETREDEC

LNG BUNK. 18600 HUDONG ZHONGHUA 2021 MITSUI OSK LINES

ETHANEL/LPG 70000 JIANGNAN SY GROUP 2022 PACIFIC GAS

ETHANEL/LPG 70000 JIANGNAN SY GROUP 2022 PACIFIC GAS

TANKER 300000 DALIAN SHIPBUILDING 2022 83 CHINA MERCHANTS SHPG




TANKER 158000 GSI NANSHA 2022 EASTERN PACIFIC SHPH

TANKER 158000 GSI NANSHA 2022 EASTERN PACIFIC SHPH

TANKER 158000 GSI NANSHA 2022 EASTERN PACIFIC SHPH OPTION

TANKER 158000 GSI NANSHA 2022 EASTERN PACIFIC SHPH OPTION

BULK 210000 SHANGHAI WAIGAOQIAO 2022 ICBC LEASING

BULK 210000 SHANGHAI WAIGAOQIAO 2022 ICBC LEASING

BULK 210000 SHANGHAI WAIGAOQIAO 2022 ICBC LEASING OPTION

BULK 210000 SHANGHAI QAIGAQIAO 2022 ICBS LEASING OPTION

CHEM & OIL 13800 CHONGQING CHUANDONG 202 CSET TANKER SHANGHAI

CHEM & OIL 13800 CHONGQING CHUANDONG 2022 CSET TANKER SHANGHAI

BULK 209000 SHANGHAI WAIGAOQIAO 2022 EASTERN PACIFIC SHPH

BULK 89900 OSHIMA SHIPBUILDING 2022 MITSUI OSK LINES

BULK 89900 OSHIMA SHIPBUILDING 2022 MITSUI OSK LINES

TSH DREDGER SHANGHAI ZHENHUA 2022 CCCC SHANGHAI

TSH DREDGER SHANGHAI ZHENHUA 2022 CCCC SHANGHAI

SEMI-SUB H/LIFT 12000 COSCO HI (DALIAN) 2022 RMB 342.1 SHANGHAI SALVAGE

SEMI-SUB H/LIFT 12000 COSCO HI (DALIAN) 2022 RMB 342.1 SHANGHAI SALVAGE

SEMI-SUB H/LIFT 80000 CMHI (JIANGSU) 2022 RMB 1099 GUANGZHOU SALVAGE

TANKER 318000 DAEWOO (DSME) 2022 MARAN TANKERS MGMT

TANKER 318000 DAEWOO (DSME) 2022 MARAN TANKERS MGMT

LNG 96000 DAEWOO (DSME) 2022 MARAN GAS MARITIME

FPSO 300000 CMHU (JIANGSU) 2022 SBM OFFSHORE

LNG 96000 HYUNDAI (ULSAN) 2022 187.9 UNKNOWN

LNG 96000 HYUNDAI (ULSAN) 2022 187.9 UNKNOWN

LNG 96000 HYUNDAI SAMHO HI 2022 187.9 UNKNOWN




LNG 96000 HYUNDAI HI (ULSAN) 2022 187.9 UNKNOWN

LNG 96000 HYUNDAI HI (ULSAN) 2022 187.9 UNKNOWN

SHUTTLE 153000 HYUNDAI HI (ULSAN 2022 UNKNOWN

SHUTTLE 153000 HYUNDAI HI (ULSAN) 2022 UNKNOWN

SHUTTLE 153000 HYUNDAI HI (ULSAN) 2022 UNKNOWN

ROPAX CHINA MERCHANTS WEIHAI 2022 FINNLINES PLC

ROPAX CHINA MERCHANTS WEIHAI 2022 FINNLINES PLC

LPG 60000 DAEWOO (DSME) 2022 AVANCE GAS HOLDINGS

LPG 60000 DAEWOO (DSME) 2022 AVANCE GAS HOLDINGS

BULK 85000 HUANGPU WENCHONG 2022 SEACON SHIPS




BULK 85000 HUANGPU WENCHONG 2022 SEACON SHIPS OPTION




D E M O L I T I O N M A R K E T

* M O N T H ’ S E N D P R I C E S

Demolition Historical Data

430 435 445 450 440 425 395 365

360 365 380

380

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* 2016 2017

2018 2019

*India month's end prices

420 425 435 440 430 415 390 360

355 355 365

370

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*2016 2017

2018 2019

*India month's end prices

Demolition Prices

Gen Cargo Tanker

India USD 370/lt Ldt USD 380/lt Ldt

Bangladesh USD 375/lt Ldt USD 390/lt Ldt

Pakistan USD 370/lt Ldt USD 380/lt Ldt

Turkey USD 250/lt Ldt USD 270/lt Ldt

HISTORICAL DEMOLITION PRICES (*Indian Year’s End)

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 CURR

TANK 135 174 262 362 302 405 507 287 338 485 482 405 435 425 300 300 440 435 380

BULK 135 181 267 381 332 392 472 268 328 437 456 375 410 400 285 280 425 425 370

25.614.5

4.92.35

4.63.8

15.916.7

18.915.5

1815.6

2530.5

22.428.4

28.527

105.5

6.55

1228.9

25.731.58

50.341.8

34.338.8

44.635.2

30.416.9

0 10 20 30 40 50 60

1986

1989

1992

1995

1998

2001

2004

2007

2010

2013

2016

2019

Million dwt

Yea

r

Total Demolition (Dwt)

* Bss reported sales

0

100

200

300

400

500

600

US

D/t

on

Historical Demolition Prices (India Year's End)

TANKERS

BULKERS

Avg. Trend

India

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

TANK KARADENIZ PSB 5758 1992 2347 615 -

BULK JINSEI MARU 17435 1990 17435 366 -

CONT MSC NAMIBIA II 31829 1991 8309 390 -

CONT EVER DIAMOND 55515 1998 21820 385 -

Bangladesh


BULK BATANGAS BAY 1 1781 1996 2769 360 -

TANK PELITA SAMUDERA 6940 1985 2283 347 -

TANK TRUST HONOR 7088 1985 2296 347 -

BULK MADURAI MEENAKSHI 7612 2001 3430 355 -

CONT HAI SU 1 8461 2002 3760 369 -

BULK ELITE 23169 1978 8476 333 -

BULK GEORGIA K 25369 2000 5500 370 -

TANK BRAMCO 1 37700 1990 8500 397 -

BULK UNI LUCKY 42692 1990 9057 375 -

BULK NORDIC BOTHNIA 43706 1995 9912 385 AS IS SPORE

TANK LORENA BR 45229 1996 10845 330 AS IS BRAZIL

TANK DESPINA ANDRIANNA 71637 2000 13783 344 -

TANK HITRA 94236 1984 24200 320 AS IS LABUAN

BULK BERGE VINSON 290160 1990 37863 395 -

China


- - - - - - -

Pakistan


- - - - - - -

Turkey


- - - - - - -

Other


- - - - - - -

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 Fujairah 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

2017 367 579 376 627.5 356 612

2018 315 490 335 732 362 567

30-12-19 290.4 607.2 290.3 760.3 342 647.8

0

100

200

300

400

500

600

700

800

US

D/t

on

Bunkers Cost (380 cst)

Rotterdam

Fujairah

Houston

Average Trend

0

200

400

600

800

1000

1200

US

D/t

on

Bunkers Cost (MGO)

Rotterdam

Fujairah

Houston

Average Trend

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 1.726373 1.179728 142.989536 1.289681 1.309459 1.904887

CAD 0.578831 1 0.683090 82.785099 0.746612 0.758246 1.103000

EUR 0.847112 1.462918 1 121.166065 1.092841 1.109633 1.614498

JPY 0.006990 0.012071 0.008249 1 0.009017 0.009156 0.013321

CHF 0.774992 1.338082 0.914566 110.831618 1 1.014958 1.476412

USD 0.763388 1.318397 0.900894 109.178818 0.984683 1 1.454719

AUD 0.524475 0.905763 0.619098 75.022358 0.676486 0.687041 1 * 30/12/2019 values

60

70

80

90

100

110

120

130

0.00

0.20

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

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 13.32 11.79 0.30 17.36 9.68

Diana Shipping Inc. DSX 3.10 3.28 0.81 4.15 2.41

Dynagas LNG Partners LP DLNG 2.11 2.04 0.00 4.44 1.15

Eagle Bulk Shipping Inc. EGLE 4.64 4.65 -0.43 5.92 3.79

Euroseas Ltd. ESEA 3.76 3.75 -0.27 7.84 2.64

Costamare Inc. CMRE 9.62 8.62 0.52 9.80 4.32

Navios Maritime Holdings NM 4.86 4.78 -0.85 8.10 1.69

GasLog Ltd. GLOG 9.45 9.32 -0.79 18.97 8.68

Safe Bulkers Inc. SB 1.71 1.72 -2.29 2.38 1.28

Star Bulk Carriers Corp. SBLK 11.72 10.87 0.69 12.09 6.16

Stealthgas Inc. GASS 3.50 3.55 -1.69 4.18 2.73

TEN Inc. TNP 4.37 3.53 1.16 4.40 2.56

TOP Ships Inc. TOPS 0.81 0.78 -4.81 25.10 0.61

Performance Shipping Inc. DCIX 0.84 0.83 0.84 1.39 0.60

Danaos Corporation DAC 8.91 6.87 -2.09 15.40 5.36 * 30/12/2019 closing values

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer: Disclaimer: Disclaimer: 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,Kind Regards,Kind Regards,Kind Regards,

ATHENIAN SHIPBROKERS S.A.

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