WEEKLY SHIPPING MARKET REPORT WEEK 22 · WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 22 (22nd May to 29th May 2020) Capesize 30.000 Iron ore rates on the West Australia / China route

WEEKLY SHIPPING MARKET REPORT - pg. 1

Week 22 (22nd May to 29th May 2020)

Bulkers

Sato Steamship have disposed their Panamax “Diamond Wind” 76/2010 Shin Kasado, Japan (SS/DD 07/2022) at a price of USD 12,5 mill. For comparison, the two-years-younger “Coral Amber” 78/2012 Shin Kurushima, Japan was sold in March at USD 14,5 mill. Moreover, the vintage Panamax “Meister” 69/1997 Imabari, Japan (SS 06/2022, DD 06/2020) was committed to Chinese buyers for USD 3,3 mill, while the one-year-older “Everlucky” 70/1996 Sumitomo, Japan was sold in March at USD 3,7 mill.

BW Group are rumored to have sold their Supramax “BW Flax” 58/2010 Tsuneishi Cebu, Philippines (SS/DD 03/2022) to either Greek or Bangladeshi buyers for USD 10,5 mill. Furthermore, “Blue Marlin I” 57/2008 Zhejiang Zhenghe, China achieved in a Chinese court auction levels USD 4,85 mill from Chinese buyers (underbidders were Greek).

German owners are on subjects to sell their Handysize “Swakop” 34/2013 Yangfan, China (SS 01/2023, DD 02/2021) at USD 8,4 mill. Latest similar sale was in March, when the one-year-older “Orient Alliance” 34/2012 Samjin, China was sold for USD 7 mill. In addition, “Joo Do” 32/2003 Saiki, Japan (SS/DD 07/2022) of Asan Merchant Marine was sold to undisclosed buyers for a price of USD 4,5 mill while Daisan Kaiun’s BWTS fitted “Wave Friend” 28/2010 Imabari, Japan (SS 03/2025, DD 06/2022) is on subjects to be sold to Greek buyers at levels USD 6,4-6,5 mill.

Tankers

Valles Steamship have sold their Aframax “Seapacis” 106/2005 Namura & Sasebo, Japan (SS/DD 09/2020) to Indonesian buyers for USD 15,75 mill basis prompt delivery. Remind you that the one-year-older Korean built “Pallas Orust” 115/2004 Samsung, Korea was sold last month at levels USD 14 mill.

MR2 “Ridgebury Julia M” 46/2007 Shin Kurushima Onishi, Japan (SS/DD 09/2022) of Ridgebury Holdings has been committed for USD 13,5 mill with DD freshly passed. For comparison, the two-years-younger “Jal Anant” 47/2009 Nakai Zosen, Japan was sold in March at USD 15 mill.

SOVCOMFLOT’s MR2 sister vessels “Hermitage Bridge” 48/2003 Hyundai Mipo, Korea (SS 08/2023, DD 11/2021) & “Anichkov Bridge” 48/2003 Hyundai Mipo, Korea (SS 11/2023, DD 02/2022) were sold to Greek buyers IMS for USD 9,3 mill each. Note that last week, the one-year-older sister vessels “Torm Mary” 46/2002 Stx, Korea & “Torm Vita” 46/2002 Stx, Korea were sold for USD 10 mill each with DD due 06/2020 for both vessels.

Baltic Indices

INDEX 29-May 22-May ± (%)

BDI 504 498 1,20%

BCI 46 162 -71,60%

BPI 754 635 18,74%

BSI 500 486 2,88%

BHSI 271 249 8,84%

Daily T/C Avg 29-May 22-May ± (%)

Capesize $ 3.369 $ 4.140 -18,62%

Kamsarmax $ 6.789 $ 5.718 18,73%

Panamax $ 5.453 $ 4.382 24,44%

Supramax $ 5.505 $ 5.350 2,90%

Handysize 38 $ 4.875 $ 4.487 8,65%

INDEX 29-May 22-May ± (%)

BDTI 713 735 -2,99% BCTI 587 579 1,38%

-1.000

0

1.000

2.000

3.000

4.000Bulkers

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

2.400

Tankers

BDTI BCTI

WEEKLY SHIPPING MARKET REPORT WEEK 22



Capesize

Iron ore rates on the West Australia / China route continued throughout

Week 22 at the level of low usd 4,00’s fio. No period activity to report here.

Kamsarmax / Panamax

North Pacific rounds ranged at the usd 6,000/7,000 pd. A number of

Indonesian trips into China were reported at around usd 7,000/8,000 pd

levels. A number of Australian trips into China were reported at around usd

5,000/6,000 pd levels. Continental trips into China via US Gulf and South

Africa were fixed around usd 13,000 pd. North Coast South American into

Continent were reported at the level of usd 6,000/6,500 pd without any

ballast bonus. South American trips into China were fixed around usd

12,000/12,700 pd plus ballast bonus at the usd 200K/275K. Usd 9,000 pd on

a Kamsarmax for 5/8 months employment basis delivery in the Pacific.

Ultramax / Supramax

A number of Indonesian trips into China were reported at the level of usd

6,000 pd. A number of Indonesian trips into India were fixed around usd

4,000 pd. South East Asian trips into China with nickel ore were reported at

the level of usd 8,000/9,000 pd. Indian iron ore trips into China were

reported at the level of usd 12,000 pd. South African trips into China were

fixed around usd 11,500 pd plus ballast bonus at the usd 125K. Continental

trips into Mediterranean with scrap were fixed around usd 5,300 pd. No

period activity to report here.

Handymax / Handysize

A generally quiet week for this segment. CIS Pacific rounds ranged at the usd

5,500 pd. A number of Indonesian trips into China were reported at around

usd 6,500 pd. A number of Australian trips into China with grains were fixed

around usd 10,000 pd. No period activity to report here.

0

5.000

10.000

15.000

20.000

25.000

30.000

$/d

ay

Capesize

0

2.000

4.000

6.000

8.000

10.000

12.000

$/d

ay

Panamax

0

2.000

4.000

6.000

8.000

10.000

$/d

ay

Supramax

0

2.000

4.000

6.000

8.000

10.000

$/d

ay

Handysize 38k

DRY BULK COMMENTARY



Bulk Carriers

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

Panamax Diamond

Wind 76.536 2010

Shin Kasado,

Japan 07/2022

MAN-

B&W - $ 12,5m Undisclosed

Panamax Meister 69.118 1997 Imabari, Japan 06/2022 Sulzer - $ 3,3m Chinese DD 06/2020

Supramax BW Flax 58.096 2010 Tsuneishi Cebu,

Philippines 03/2022

MAN-

B&W 4x30T $ 10,5m

Greek or

Bangladeshi

Supramax Blue Marlin I 57.078 2008 Zhejiang

Zhenghe, China

MAN-

B&W 4x30T $ 4,85m Chinese Auction sale

Handymax Sea Arrow 46.747 1998 Sanoyas

Hishino, Japan 04/2023 Sulzer 4x30T $ 3,35m Chinese

Handymax Zhong Chang

288 40.000 2012

Zhejiang

Qinfeng, China

MAN-

B&W - $ 10,2m Chinese

Handysize Joo Do 32.259 2003 Saiki, Japan 07/2022 Mitsubishi 4x30T $ 4,5m Undisclosed

Handysize KBS Star 30.548 2007 Shanghaiguan,

China 10/2022

MAN-

B&W 4x30T Undisclosed Vietnamese Old sale

Handysize Ubc Bremen 24.073 1998 Saiki, Japan 05/2023 Mitsubishi 4x30T $ 2,7m Undisclosed

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

VLCC Marina M 308.491 2000 Hyundai, Korea 06/2023 Sulzer Undisclosed Undisclosed Old sale

Aframax Seapacis 105.747 2005 Namura & Sasebo, Japan 09/2020 MAN-B&W $ 15,75m Indonesian Prompt

delivery

MR Ridgebury

Julia M 45.980 2007

Shin Kurushima Onishi,

Japan 09/2022 MAN-B&W $ 13,5m Undisclosed

DD freshly

passed

MR Hermitage

Bridge 47.880 2003 Hyundai Mipo, Korea 08/2023 B&W $ 9,3m

Greek (IMS)

MR Anichkov

Bridge 47.842 2003 Hyundai Mipo, Korea 11/2023 MAN-B&W $ 9,3m

Chemical/Oil

Products Primo M 18.596 2000 Vulcano, Spain 10/2020 MAN Undisclosed Undisclosed St St

Small Mersey

Spirit 2.366 1996 Rota, Turkey 02/2021 Alpha $ 1m

Italian

(ANAPO)

REPORTED SALES



Indicative Demolition Prices

Country Price $/ldt

Bu

lke

rs

India 290

Bangladesh 280

Pakistan 270

Turkey 160

Tan

kers

India 310

Bangladesh 300

Pakistan 290

Turkey 170

Demolition Sales

Type Vessel Dwt YoB Ldt Price $/ldt Country Comments

Container Kokura 84.900 1997 33.100 330 Bangladesh

Container E. R. Pusan 67.737 2000 24.702 285 India HKC green recycling

Bulker Cape Orchid 172.569 2001 21.221 285 India HKC green recycling

140

160

180

200

220

240

260

280

300

$/l

dt

Tankers

Turkey

140

160

180

200

220

240

260

280

300

$/l

dt

Bulkers

Turkey

260

280

300

320

340

360

380

400

420

440

460

$/l

dt

Tankers

India Bangladesh Pakistan

260

280

300

320

340

360

380

400

420

440

460$

/ld

t

Bulkers

India Bangladesh Pakistan

DEMOLITION



Tankers

Units Dwt Yard Delivery Price Owner Comments

2 307.000 DSIC, China 2021 $ 84m Chinese (CMES)

2+2 157.000 Hyundai, Korea 2021 $ 57m Angolan (Sonangol)

NEWBUILDING



0

10

20

30

40

50

2115,5

8,55,5

1611

6,5

27

19

138,5

29,523

49

27

20

11,5

Mill

ion

US$

BulkersCapesize

Kamsarmax

Panamax

Ultramax

Supramax

Handysize

Prompt Resale 5 years 10 years 15 years

0

20

40

60

80

100

3828

1912

54

40

26,517

67,5

51

36

23,5

98

73

50

38

Mill

ion

US$

Tankers

VLCC

Suezmax

Aframax

MR

Prompt Resale 5 years 10 years 15 years

Bulkers Tankers

Size Age Week

22 Week

21 ± %

Size Age

Week 22

Week 21

± %

Capesize 180k Resale 49 49,5 -1,01% VLCC 310k Resale 98 99 -1,01%

Capesize 180k 5 years 27 27 0,00% VLCC 310k 5 years 73 74 -1,35%

Capesize 180k 10 years 20 21 -4,76% VLCC 300k 10 years 50 51 -1,96%

Capesize 170k 15 years 11,5 12,5 -8,00% VLCC 300k 15 years 38 39 -2,56%

Kamsarmax 82k Resale 29,5 30 -1,67% Suezmax 160k Resale 67,5 69 -2,17%

Kamsarmax 82k 5 years 23 23 0,00% Suezmax 160k 5 years 51 52,5 -2,86%

Panamax 76k 10 years 13 13 0,00% Suezmax 150k 10 years 36 37,5 -4,00%

Panamax 74k 15 years 8,5 9 -5,56% Suezmax 150k 15 years 23,5 24 -2,08%

Ultramax 63k Resale 27 27 0,00% Aframax 110k Resale 54 55 -1,82%

Ultramax 61k 5 years 19 19,5 -2,56% Aframax 110k 5 years 40 41,5 -3,61%

Supramax 58k 5 years 16 16,5 -3,03% Aframax 105k 10 years 26,5 27,5 -3,64%

Supramax 56k 10 years 11 11 0,00% Aframax 105k 15 years 17 17 0,00%

Supramax 52k 15 years 6,5 7 -7,14% MR 52k Resale 38 39 -2,56%

Handysize 38k Resale 21 22 -4,55% MR 51k 5 years 28 30 -6,67%

Handysize 37k 5 years 15,5 16,5 -6,06% MR 47k 10 years 19 19 0,00%

Handysize 32k 10 years 8,5 8,5 0,00% MR 45k 15 years 12 12 0,00%

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

INDICATIVE PRICES



Currencies Currency 28-May 21-May ± (%)

EUR / USD 1,1077 1,0950 1,16% USD / JPY 107,65 107,61 0,04%

USD / KRW 1.239,45 1.230,78 0,70% NOK / USD 0,1023 0,1006 1,69%

Commodities Commodity 28-May 21-May ± (%)

Brent Crude (BZ) 35,29 36,06 -2,14% WTI Crude Oil (WTI) 33,71 33,92 -0,62%

Natural Gas (NG) 1,83 1,71 7,02% Gold (GC) 1.728,30 1.721,90 0,37%

Copper (HG) 2,41 2,43 -0,82% Wheat (W) 514,50 516,00 -0,29%

1,06

1,08

1,10

1,12

1,14

1,16

EUR / USD

-40

-20

0

20

40

60

80

$/b

bl

Oil PricesBrent Crude

WTI Crude

KEY INDICATORS



Stock Prices – Shipping Companies

Company Stock Exchange 28-May 21-May ± (%) Diana Shipping Inc (DSX) NYSE 1,40 1,46 -4,11% Euroseas Ltd (ESEA) NASDAQ 2,75 2,24 22,77% Eagle Bulk Shipping Inc (EGLE) NASDAQ 1,87 1,89 -1,06% Navios Maritime Holdings Inc (NM) NYSE 2,26 2,19 3,20% Navios Maritime Partners LP (NMM) NYSE 6,57 6,20 5,97% Star Bulk Carriers Corp (SBLK) NASDAQ 5,06 5,20 -2,69% Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,13 0,14 -7,14% Safe Bulkers Inc (SB) NYSE 0,99 0,91 8,79% Golden Ocean Group Ltd (GOGL) NASDAQ 3,13 3,43 -8,75%

Stock Prices - Wet

Company Stock Exchange 28-May 21-May ± (%) Capital Product Partners LP (CPLP) NASDAQ 8,34 8,09 3,09% TOP Ships Inc (TOPS) NASDAQ 0,13 0,14 -7,14% Tsakos Energy Navigation Ltd (TNP) NYSE 2,76 2,70 2,22%

Stock Prices - Other

Company Stock Exchange 28-May 21-May ± (%) Danaos Corp (DAC) NYSE 4,25 4,16 2,16% StealthGas Inc (GASS) NASDAQ 2,75 2,43 13,17% Rio Tinto PLC (RIO) NYSE 52,51 51,82 1,33% Vale SA (VALE) NYSE 9,31 9,13 1,97% Archer-Daniels-Midland Co (ADM) NYSE 39,00 35,12 11,05% BHP Group Ltd (BHP) NYSE 46,70 45,54 2,55%

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 6946 85 89 29

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 6949 19 58 96

Veronikis Spyros Mob: +30 6946 28 07 21

Paraskevopoulou Mina Mob: +30 6949 37 47 06

Dienis Angelos Mob: +30 6951 82 94 48

Ploumpis Stefanos Mob: +30 6951 00 24 36

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

“ 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 22 · WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 22 (22nd May to 29th May 2020) Capesize 30.000 Iron ore rates on the West Australia / China route