WEEKLY SHIPPING MARKET REPORT WEEK 11...WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 11 (6th Mar to 13th Mar 2020) Capesize 35.000 Week 30.00011 found iron ore freight rates on the West

WEEKLY SHIPPING MARKET REPORT - pg. 1

Week 11 (6th Mar to 13th Mar 2020)

Bulkers

D’Amico have decided to dispose their Kamsarmax “Medi Hong Kong” 83/2006 Tsuneishi Tadotsu, Japan (SS/DD 07/2020) at a price of USD 9,25 mill. The buyers are rumored to be either Qatari or Chinese. Following the sale of their Ultramax “Sbi Taurus” 64/2015 Chengxi, China at USD 18,5 mill a couple of weeks ago, Scorpio Bulkers have sold her one-year-older sister vessel “Sbi Jaguar” 64/2014 Chengxi, China (SS/DD passed 11/2019) at a price of USD 16,2 mill. Blue Wall Shipping have sold their Supramax “Vigorous” 52/2005 Tsuneishi Cebu, Philippines (SS/DD 10/2020) to undisclosed buyers at USD 7,1 mill. Last similar sale was the one-year-older Japanese built “Patrick Star” 52/2004 Tsuneishi Fukuyama, Japan which was sold back in January for USD 8 mill. Handysize “Arrilah-I” 36/2011 Hyundai Mipo, Korea (SS/DD 01/2021) of Abu Dhabi National Oil has been sold at a price of USD 8,9 mill while “Labrador Strait” 34/2010 Seko, Korea (SS/DD 08/2020) was purchased back by the owners namely Carsten Rehder at USD 6,85 mill. For comparison, the BWTS fitted “Baltic Wind” 34/2009 Spp, Korea was sold last week at levels USD 7,75 mill.

Tankers

Unisea’s Aframax “Aquabliss” 113/2019 Samsung, Korea (DD 10/2022) sale to Greek buyers at USD 55 mill has failed and the vessel is now committed to Norwegian buyers Viken Shipping for USD 56 mill. Remind you that her sister vessel “Aquafreedom” 113/2019 Samsung, Korea was sold a couple of months ago to Minerva Marine at USD 55 mill. Sea World Management & Trading have sold their MR2 “Sea Faith” 46/2003 Hanjin, Korea (DD 06/2021) to undisclosed buyers for USD 11,2 mill. Note that in February, “Anichkov Bridge” 48/2003 Hyundai Mipo, Korea was sold at levels USD 10 mill. Unicorn Shipping have sold their two MR1 “Inyala” 40/2008 Sls, Korea (DD 08/2020) & “Rhino” 40/2010 Sls, Korea (SS/DD 08/2020) at USD 13 & 15 mill respectively. Remind you that last month, “Ridgebury Nalini D” 37/2008 Hyundai Mipo, Korea was sold for USD 13,5 mill.

Baltic Indices

INDEX 13-Mar 6-Mar ± (%)

BDI 631 617 2,27%

BCI -311 -312 0,32%

BPI 1.007 1.068 -5,71%

BSI 750 688 9,01%

BHSI 395 350 12,86%

Daily T/C Avg 13-Mar 6-Mar ± (%)

Capesize $ 2.797 $ 2.542 10,03%

Kamsarmax $ 9.061 $ 9.610 -5,71%

Panamax $ 7.725 $ 8.274 -6,64%

Supramax $ 8.255 $ 7.564 9,14%

Handysize 38 $ 7.103 $ 6.292 12,89%

INDEX 13-Mar 6-Mar ± (%)

BDTI 1.434 764 87,70% BCTI 816 685 19,12%

-1.000

0

1.000

2.000

3.000

4.000

5.000Bulkers

B.D.I B.C.I B.P.I. B.S.I. B.H.S.I.

0

400

800

1.200

1.600

2.000

Tankers

BDTI BCTI

WEEKLY SHIPPING MARKET REPORT WEEK 11



Capesize

Week 11 found iron ore freight rates on the West Australia / China route at

the level of mid usd 4,00’s fio. No period activity to report here.

Kamsarmax / Panamax

A number of Indonesian and Australian trips into China reported around usd

6,000/7,000 pd levels. A number of Indonesian trips into India were reported

at the levels of usd 5,000/6,000 pd. South African trips into India with coal

were reported at the level of usd 11,750 pd plus ballast bonus at the usd

175K. West African trips into Continent with bauxite were fixed around usd

7,500 pd. Continental trips into South America via Baltic were reported

around usd 8,500 pd. Mediterranean trips via US Gulf into China were fixed

at the level of usd 16,500 pd. South American trips into Continent were

reported at the level of usd 11,250 pd. South American trips into China were

fixed around usd 14,000 pd plus ballast bonus at the usd 400K. Usd 10,000

pd on a Panamax for 4/6 months employment basis delivery in the Pacific.

Ultramax / Supramax

Indonesian trips into China were reported at the level of usd 6,000/7,000 pd

without any ballast bonus. South African trips into China were reported at

the level of usd 9,250 pd. East African trips into China were fixed around usd

13,250 plus ballast bonus at the usd 325K. Continental trips into

Mediterranean via Baltic were reported around usd 12,500 pd. US Gulf trips

into Continent were fixed around usd 17,000 pd. US Gulf trips into China

were reported at the level of usd 22,000 pd. South American trips into

Mediterranean were fixed at the level of usd 12,000/13,000 pd. No period

activity to report here.

Handymax / Handysize

A number of Indonesian and Australian trips into China reported around usd

9,000 pd levels. Inter-Continental trips were reported at the level of usd

10,000 pd. Continental trips into China were fixed around usd 14,000 pd.

Inter-Mediterranean trips via Continent were reported at the level of usd

9,000 pd. South American trips into US Gulf were fixed around usd 8,500 pd.

Usd 9,000 pd on a large Handysize for 5/7 months employment basis

delivery and redelivery in the Atlantic.

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

$/d

ay

Capesize

0

4.000

8.000

12.000

16.000

20.000

$/d

ay

Panamax

4.000

6.000

8.000

10.000

12.000

14.000

16.000

$/d

ay

Supramax

4.000

6.000

8.000

10.000

12.000

14.000

$/d

ay

Handysize 38k

DRY BULK COMMENTARY



Bulk Carriers

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

Kamsarmax Medi Hong

Kong 82.790 2006

Tsuneishi

Tadotsu,

Japan

07/2020 MAN-

B&W - $ 9,25m Undisclosed

Ultramax Sbi Jaguar 63.514 2014 Chengxi,

China 11/2024

MAN-

B&W 4x30T $ 16,2m Undisclosed

SS/DD

passed

11/2019

Supramax Vigorous 52.498 2005

Tsuneishi

Cebu,

Philippines

10/2020 B&W 4x30T $ 7,1m Undisclosed

Handymax Audacious 46.683 2004 Toyohashi,

Japan 01/2024 Mitsubishi 4x30T $ 6,2m Undisclosed

Handysize Arrilah-I 36.490 2011

Hyundai

Mipo,

Korea

01/2021 MAN-

B&W 4x30T $ 8,9m Undisclosed

Handysize Labrador

Strait 34.126 2010 Seko, Korea 08/2020

MAN-

B&W 4x30T $ 6,85m

German (Carsten

Rehder)

Bank sale,

purchased

back by the

owners

Handysize Martigny 20.035 2002 Inp, Korea 02/2022 MAN-

B&W 3x30T $ 2,8m Undisclosed DD 03/2020

Tankers

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

VLCC Miltiadis

Junior 320.926 2014 SWS, China 06/2024 MAN-B&W $ 69,5m Undisclosed

Suezmax Falcon Pride 159.899 1998 Daewoo, Korea 08/2023 B&W $ 14,7m Chinese

Aframax Aquabliss 112.930 2019 Samsung, Korea 10/2024 MAN-B&W $ 56m

Norwegian

(Viken

Shipping)

Scrubber

fitted

MR Sea Faith 46.349 2003 Hanjin, Korea 02/2023 B&W $ 11,2m Undisclosed

MR Inyala 40.037 2008 Sls, Korea 03/2023 MAN-B&W $ 13m

Undisclosed

MR Rhino 39.710 2010 Sls, Korea 08/2020 MAN-B&W $ 15m

REPORTED SALES



Containers

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

New

Panamax

Kota

Panjang 11.923 2017

Jiangsu

Yangzi,

China

10/2022 Wartsila - $ 92,15m Taiwanese

(Wan Hai

Lines)

New

Panamax

Wan Hai

805 11.923 2019

Jiangsu New

Yangzijiang,

China

10/2023 Wartsila - $ 94,65m

Panamax Saxonia 3.091 2003

Szczecinska

Nowa,

Poland

07/2023 B&W - $ 5,9m Undisclosed

Feeder Sinokor

Tokyo 834 1999

Shandong

Weihai,

China

04/2020 B&W - Undisclosed Undisclosed

Gas

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

LPG Grace River 49.996 2002 Kawasaki,

Japan 10/2022 B&W 77.747 $ 34m

Vietnamese

(FGas Petrol)

MPP / General Cargo

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

General

Cargo

Bbc

Michigan 12.767 2010

Jiangdong,

China 06/2020 MaK 2x150T $ 7m

Undisclosed

Ice class 1A

General

Cargo Bbc Arizona 12.746 2010

Jiangdong,

China 04/2020 MaK 2x150T $ 6,85m Ice class 1A

REPORTED SALES



Indicative Demolition Prices

Country Price $/ldt

Bu

lke

rs

India 360

Bangladesh 340

Pakistan 350

Turkey 230

Tan

kers

India 370

Bangladesh 350

Pakistan 360

Turkey 240

Demolition Sales

Type Vessel Dwt YoB Ldt Price $/ldt Country Comments

Bulker Shagang Giant 306.902 1993 34.360 370 India

Bulker New Joy 149.297 1998 18.163 375 Undisclosed

General Cargo Santiago Pearl 41.649 1985 10.965 384 India

Container TG Aphrodite 33.709 1999 10.817 420 India HKC Certified Yard

Bulker Usolie 68.788 1990 10.244 381 Pakistan

Bulker Ariso 49.889 1996 10.000 385 India HKC Green recycling

Tanker Diva 18.012 1980 5.937 215 India “As Is” Rio

Container Sinokor Yokohama 11.031 2000 4.672 403 India

180

200

220

240

260

280

300

$/l

dt

Tankers

Turkey

180

200

220

240

260

280

300

$/l

dt

Bulkers

Turkey

320

340

360

380

400

420

440

460

$/l

dt

Tankers

India Bangladesh Pakistan

320

340

360

380

400

420

440

460$

/ld

t

Bulkers

India Bangladesh Pakistan

DEMOLITION



Bulk Carriers

Units Dwt Yard Delivery Price Owner Comments

1 182.000 JMU, Japan 2021 Undisclosed Japanese (Nissen Kaiun)

2 84.000 Oshima, Japan 2022 Undisclosed Undisclosed Wide beam design

2 38.000 Onomichi, Japan 2022 $ 24m Taiwanese (Wisdom

Marine Lines)

Tankers

Units Dwt Yard Delivery Price Owner Comments

3 152.000 Samsung, Korea 2022 $ 99m Malaysian (AET Tankers) Shuttle tankers, 15

years T/C to Petrobas

8 120.000 Guangzhou, China 2022 $ 54m Chinese (Bocomm Lease) Dual fueled, XDF

propulsion, 15 years lease to Shell

4 120.000 SWS, China 2022 $ 54m Chinese (Bocomm Lease) Dual fueled, XDF

propulsion, 15 years lease to Shell

2 19.000 Fukuoka, Japan 2021 Undisclosed Chinese (SC Shipping) Chemical

Containers

Units Teu Yard Delivery Price Owner Comments

2+6 14.000 Yangzijiang, China 2022 $ 110m HK based

(Greathorse Tiger) LNG fueled

NEWBUILDING



0

10

20

30

40

50

22,517

95,5

16,512

8

27

20

139,5

3023

50

27

21

13

Mill

ion

US$

BulkersCapesize

Kamsarmax

Panamax

Ultramax

Supramax

Handysize

Prompt Resale 5 years 10 years 15 years

0

20

40

60

80

100

120

4031

2012

5642,5

3119

70

5337,5

23,5

102

77

50

34

Mill

ion

US$

Tankers

VLCC

Suezmax

Aframax

MR

Prompt Resale 5 years 10 years 15 years

Bulkers Tankers

Size Age Week

11 Week

10 ± %

Size Age

Week 11

Week 10

± %

Capesize 180k Resale 50 50 0,00% VLCC 310k Resale 102 103 -0,97%

Capesize 180k 5 years 27 27 0,00% VLCC 310k 5 years 77 76 1,32%

Capesize 180k 10 years 21 21 0,00% VLCC 300k 10 years 50 50 0,00%

Capesize 170k 15 years 13 13 0,00% VLCC 300k 15 years 34 35 -2,86%

Kamsarmax 82k Resale 30 30 0,00% Suezmax 160k Resale 70 70 0,00%

Kamsarmax 82k 5 years 23 23 0,00% Suezmax 160k 5 years 53 53 0,00%

Panamax 76k 10 years 13 13 0,00% Suezmax 150k 10 years 37,5 37,5 0,00%

Panamax 74k 15 years 9,5 9,5 0,00% Suezmax 150k 15 years 23,5 23,5 0,00%

Ultramax 63k Resale 27 27,5 -1,82% Aframax 110k Resale 56 56 0,00%

Ultramax 61k 5 years 20 20 0,00% Aframax 110k 5 years 42,5 42,5 0,00%

Supramax 58k 5 years 16,5 16,5 0,00% Aframax 105k 10 years 31 31 0,00%

Supramax 56k 10 years 12 12 0,00% Aframax 105k 15 years 19 19 0,00%

Supramax 52k 15 years 8 8 0,00% MR 52k Resale 40 40 0,00%

Handysize 38k Resale 22,5 22,5 0,00% MR 51k 5 years 31 31 0,00%

Handysize 37k 5 years 17 17 0,00% MR 47k 10 years 20 20 0,00%

Handysize 32k 10 years 9 9 0,00% MR 45k 15 years 12 12 0,00%

Handysize 28k 15 years 5,5 5,5 0,00%

INDICATIVE PRICES



Currencies Currency 12-Mar 5-Mar ± (%)

EUR / USD 1,1185 1,1237 -0,46% USD / JPY 104,64 106,16 -1,43%

USD / KRW 1.206,67 1.181,30 2,15% NOK / USD 0,0984 0,1077 -8,64%

Commodities Commodity 12-Mar 5-Mar ± (%)

Brent Crude (BZ) 33,22 49,99 -33,55% WTI Crude Oil (WTI) 31,50 45,90 -31,37%

Natural Gas (NG) 1,84 1,77 3,95% Gold (GC) 1.590,30 1.688,00 -5,79%

Copper (HG) 2,44 2,57 -5,06% Wheat (W) 505,50 518,75 -2,55%

1,06

1,08

1,10

1,12

1,14

1,16

EUR / USD

30

40

50

60

70

$/b

bl

Oil PricesBrent Crude

WTI Crude

KEY INDICATORS



Stock Prices – Shipping Companies

Company Stock Exchange 12-Mar 5-Mar ± (%) Diana Shipping Inc (DSX) NYSE 1,69 1,99 -15,08% Euroseas Ltd (ESEA) NASDAQ 2,13 2,71 -21,40% Eagle Bulk Shipping Inc (EGLE) NASDAQ 2,13 2,96 -28,04% Navios Maritime Holdings Inc (NM) NYSE 2,45 3,13 -21,73% Navios Maritime Partners LP (NMM) NYSE 6,73 8,25 -18,42% Star Bulk Carriers Corp (SBLK) NASDAQ 6,99 8,04 -13,06% Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,21 0,28 -25,00% Safe Bulkers Inc (SB) NYSE 1,13 1,27 -11,02% Golden Ocean Group Ltd (GOGL) NASDAQ 3,06 3,72 -17,74%

Stock Prices - Wet

Company Stock Exchange 12-Mar 5-Mar ± (%) Capital Product Partners LP (CPLP) NASDAQ 7,60 10,56 -28,03% TOP Ships Inc (TOPS) NASDAQ 0,14 0,24 -41,67% Tsakos Energy Navigation Ltd (TNP) NYSE 2,46 2,18 12,84%

Stock Prices - Other

Company Stock Exchange 12-Mar 5-Mar ± (%) Danaos Corp (DAC) NYSE 4,06 5,08 -20,08% StealthGas Inc (GASS) NASDAQ 2,40 2,50 -4,00% Rio Tinto PLC (RIO) NYSE 38,86 49,27 -21,13% Vale SA (VALE) NYSE 7,16 10,12 -29,25% Archer-Daniels-Midland Co (ADM) NYSE 31,54 38,33 -17,71% BHP Group Ltd (BHP) NYSE 30,93 43,10 -28,24%

SHIPPING INDICATIVE SHARE VALUE



ADVANCED SHIPPING & TRADING S.A.

Vouliagmenis Avenue 168, 1st Floor,

Glyfada 16674, Greece

Tel: +30 210 30 03 000

Fax: +30 210 30 01 305

Sale & Purchase Department: Capt. Fountoglou Michalis Mob: +30 6947 70 07 18 Thermos Stavros Mob: +30 6944 24 20 20

Harrington James Mob: +44 7768 10 45 33

Papoutsis George Mob: +30 6951 00 51 65

Balpakakis Manolis Mob: +30 6955 47 77 72

Chrousalas Thanasis Mob: +30 6955 47 77 73

Landrakis Stelios Mob: +30 6955 47 77 74

Bilias Tasos Mob: +30 6955 47 77 71

Kontaratos Alkis Mob: +30 6949 19 11 79

Markoutsa Nela Mob: +30 6959 99 85 10

Roussos Pantelis Mob: +30 6955 19 57 42

Mylona Irini Mob: +30 6951 97 60 02

Grigoriou Nikos Mob: +30 6948 03 69 79

Operations Department:

Katsouli Fotini Mob: +30 6942 54 23 57

Chief Executive Consultant:

Capt. Galonis Dimitrios Mob: +30 6945 55 36 81

E-mail: [email protected]




Dry Cargo Chartering Department:

Pittas Jordan Mob: +30 6944 05 27 46

Benetos Kostas Mob: +30 6943 29 32 13

Filippis Dimitris Mob: +30 6977 98 47 32

Paraskevopoulou Mina Mob: +30 6983 05 77 81

Dienis Angelos Mob: +30 6945 64 97 73

Ploumpis Stefanos Mob: +30 6951 00 24 36

Drakas Steve Mob: +30 6944 32 60 21

Petrou Viky Mob: +30 6983 32 55 69

Research Department:

Avdikos Alexandros Mob: +30 6979 49 91 78

Liadi Ioanna Mob: +30 6946 75 59 10

Liadi Artemis Mob: +30 6956 58 41 49

Accounting Department: Stergiou Kostas Mob: +30 6942 09 73 10 Administration Department: 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]

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WEEKLY SHIPPING MARKET REPORT WEEK 11...WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 11 (6th Mar to 13th Mar 2020) Capesize 35.000 Week 30.00011 found iron ore freight rates on the West