WEEKLY SHIPPING MARKET REPORT WEEK 5 · WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 5 (24th Jan to 31st Jan 2020) Capesize 40.000 Week 05 found iron ore freight rates on the West Australia

WEEKLY SHIPPING MARKET REPORT - pg. 1

Week 5 (24th Jan to 31st Jan 2020)

Bulkers

Diana Shipping have decided to dispose their Capesize “Norfolk” 164/2002 China Shipbuilding Kao, Taiwan (DD 04/2020) to undisclosed buyers at a price of USD 9,4 mill. Panamax “Phoenix Bay” 75/2006 Hudong-Zhonghua, China (SS/DD 08/2021) was sold this week to Indonesian buyers at a price of USD 8,2 mill. Remind you that earlier this month, the one-year-older “Calipso” 74/2005 Jiangnan, China was sold at levels USD 7,3 mill with SS/DD due 02/2020. Triton Navigation have sold their Supramax “Triton Valk” 56/2009 Mitsui Chiba Ichihara, Japan (DD passed 12/2019) to Greek buyers for USD 11,3 mill. Last similar sale was a couple of weeks ago when the two-years-younger “Nord Fuji” 56/2011 Mitsui Tamano was sold for USD 13,3 mill. Moreover, Kokusai Transport’s “Patrick Star” 52/2004 Tsuneishi Fukuyama, Japan (DD 12/2021) was sold for USD 8 mill while in November, the two-years-older “Mimosa” 52/2002 Kananashi Toyohashi, Japan was sold at USD 7,1 mill. In addition, Kouros Maritime Enterprises have sold “Alex A” 50/2002 Kawasaki, Japan (SS/DD 10/2021) to Middle Eastern buyers for USD 6,5 mill.

Tankers

MOL’s VLCC “Katsuragisan” 312/2005 Kawasaki, Japan is rumored sold for USD 35 mill but we understand that the vessel has been fixed at T/C with Pertamina for 1+1 years with a purchase obligation at the end. What is sold though is SFL’s “Front Hakata” 298/2002 Hitachi Zosen, Japan (DD 04/2020) to undisclosed buyers at USD 31,5 mill. For comparison, the two-years-older “Tenyo” 281/2000 Mitsubishi Nagasaki, Japan was sold a couple of weeks ago for USD 24 mill with DD due 07/2020. Suezmax “Finesse” 150/2003 Universal, Japan (DD 01/2021) was sold to Greek buyers at levels region USD 21 mill. We remind you that last week, the Korean built “Cape Bellavista” 159/2002 HHI, Korea & “Cape Baxley” 159/2003 Hyundai Samho, Korea were sold at USD 20 mill each. JP Morgan is the buyer of two MR2 sister vessels from Top Ships: “Eco Holmby Hills” 50/2018 Hyundai-Vinashin, Vietnam (DD 03/2021) & “Eco Palm Desert” 50/2018 Hyundai-Vinashin, Vietnam (DD 09/2021) achieved USD 35 mill each. Moreover, Navig8 Chemicals declared their purchase option for “Navig8 Amessi” 38/2015 Hyundai Mipo, Korea (SS/DD 07/2020) at a price of USD 26,5 mill.

Baltic Indices

INDEX 31-Jan 24-Jan ± (%)

BDI 487 557 -12,57%

BCI -20 165 -112,12%

BPI 574 691 -16,93%

BSI 524 543 -3,50%

BHSI 332 360 -7,78%

Daily T/C Avg 31-Jan 24-Jan ± (%)

Capesize $ 3.973 $ 4.772 -16,74%

Kamsarmax $ 5.163 $ 6.216 -16,94%

Panamax $ 3.827 $ 4.880 -21,58%

Supramax $ 5.764 $ 5.976 -3,55%

Handysize 38 $ 5.979 $ 6.486 -7,82%

INDEX 31-Jan 24-Jan ± (%)

BDTI 882 1.190 -25,88% BCTI 615 639 -3,76%

-1.000

0

1.000

2.000

3.000

4.000

5.000

6.000Bulkers

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

0

400

800

1.200

1.600

2.000Tankers

BDTI BCTI

WEEKLY SHIPPING MARKET REPORT WEEK 5



Capesize

Week 05 found iron ore freight rates on the West Australia / China route at the level of low usd 6,00’s fio. No period activity to report here.

Kamsarmax / Panamax

North Pacific rounds ranged at the usd 3,000/4,000 pd. A number of Indonesian trips into India were reported at the levels of usd 5,000 pd. Inter-Continental trips via Murmansk with coal were reported at the level of usd 7,000 pd. Mediterranean trips into China via Black Sea were fixed at around usd 18,000/19,000 pd. Mediterranean trips into Continent via Black Sea were reported at the level of usd 4,000 pd. US Gulf trips into Continent with wood pellets were fixed at around usd 10,000 pd plus ballast bonus at the usd 100K. South American trips into China were reported at around usd 12,000/13,000 pd plus ballast bonus at the usd 250K/350K. Usd 11,200 pd on a Kamsramax for 14/16 months employment basis delivery in the Pacific.

Ultramax / Supramax

Indonesian trips into India were reported at the level of usd 5,000/6,000 pd. Indian Ocean coastal trips were fixed at around usd 3,000 pd. South African trips into East Africa were reported at the level of usd 10,000 pd. Continental trips into Mediterranean were fixed at around usd 9,000 pd. Mediterranean trips into West Africa with clinker were reported at the level of usd 9,000 pd. South American trips into Mediterranean were fixed at the level of usd 10,000 pd. No period activity to report here.

Handymax / Handysize

A generally quiet week for this segment. Continental trips into Mediterranean were reported at the level of usd 7,250 pd. No period activity to report here.

05.000

10.00015.00020.00025.00030.00035.00040.000

$/d

ay

Capesize

3.0005.0007.0009.000

11.00013.00015.00017.00019.000

$/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

Capesize Norfolk 164.218 2002

China

Shipbuilding

Kao, Taiwan

08/2022 B&W - $ 9,4m Undisclosed DD 04/2020

Post

Panamax

Duke

Orsino 91.439 2005

Oshima,

Japan 01/2021 Mitsubishi - $ 9,5m

Chinese (Maple

Leaf Shipping)

Panamax Phoenix

Bay 74.759 2006

Hudong-

Zhonghua,

China

08/2021 MAN-

B&W - $ 8,2m Indonesian

SS/DD

08/2021

Supramax Triton Valk 55.651 2009

Mitsui

Chiba

Ichihara,

Japan

01/2022 MAN-

B&W 4x30T $ 11,3m Greek

DD passed

12/2019

Supramax Patrick Star 52.454 2004 Tsuneishi,

Japan 12/2023 B&W 4x30T $ 8m Undisclosed

Supramax Alex A 50.399 2002 Kawasaki,

Japan 10/2021

MAN-

B&W 4x30,5T $ 6,5m Middle Eastern

Small Andermatt 20.002 2002 Inp, Korea 08/2022 MAN-

B&W 3x30T $ 4m Undisclosed

Tankers

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

VLCC Front Hakata 298.465 2002 Hitachi Zosen, Japan 07/2022 MAN-B&W $ 31,5m Undisclosed DD 04/2020

Suezmax Finesse 149.994 2003 Universal, Japan 01/2023 Sulzer Region

$ 21m Greek

MR Eco Holmby

Hills 49.703 2018

Hyundai-Vinashin,

Vietnam 03/2023 MAN-B&W $ 35m

US (JP Morgan)

MR Eco Palm

Desert 49.703 2018

Hyundai-Vinashin,

Vietnam 09/2023 MAN-B&W $ 35m

MR Navig8 Amessi 37.596 2015 Hyundai Mipo,

Korea 07/2020 MAN-B&W $ 26,5m

US based

(Navig8

Chemicals)

Purchase

option

declared

MR Maria De

Carmen VIII 37.263 2001

Hyundai Mipo,

Korea 02/2020 B&W Undisclosed Undisclosed

Chemical/Oil

Products Kowie 16.886 2010

Taizhou Sanfu,

China 10/2020 MAN-B&W $ 9m Chinese

Oil Products ES Bristol 3.590 2012 Es, Thailand 10/2020 Yanmar Undisclosed Undisclosed

Small Hanyu Dream 2.954 2003 Samho, Korea 05/2023 MAN Undisclosed Undisclosed

REPORTED SALES



Containers

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

Post

Panamax Rotterdam 6.494 2008

Koyo

Mihara,

Japan

07/2023 MAN-B&W - $ 18,5m Greek

(Chartworld)

Feeder Cfs Paceno 1.118 2008

Taizhou

Kouan,

China

10/2023 MAN 1x45T,

1x40T Undisclosed Greek

Gas

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

LNG British Ruby 84.491 2008 Hyundai,

Korea 06/2023 Wartsila 151.883 Undisclosed

UAE (Tristar

Transport)

Long term T/C

back to BP

LNG Northwest

Seaeagle 67.003 1992

Mitsubishi

Nagasaki,

Japan

11/2022 Mitsubishi 124.905 Undisclosed KARMOL

MPP / General Cargo

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

General

Cargo Ho Fua 11.600 2001

Higaki,

Japan 01/2023 B&W 4x30T

Region

$ 1,8m Vietnamese

General

Cargo Marmisool 10.584 2004

Damen

Hoogezand,

Netherlands

01/2020 MaK 2x80T Undisclosed Undisclosed

General

Cargo Danita 6.405 2005

Tianjin

Xingang,

China

04/2020 MaK 2x60T $ 4,8m Estonian

(AMISCO)

SS/DD

04/2020

Passengers

Type Name Pax YoB Yard SS M/E LOA Price Buyer Comments

Cruise Ship Genting

Dream 4.925 2016

Meyer

Werft,

Germany

10/2021 MAN 335,33 $ 900m

BoCom,

CMB, CCB &

CDB

12 years Sale

& Leaseback

REPORTED SALES



Indicative Demolition Prices

Country Price $/ldt

Bu

lke

rs

India 390

Bangladesh 380

Pakistan 370

Turkey 230

Tan

kers

India 400

Bangladesh 390

Pakistan 380

Turkey 240

Demolition Sales

Type Vessel Dwt YoB Ldt Price $/ldt Country Comments

Tanker Ghawar 300.361 1996 48.100 407 Undisclosed “As Is, Where Is” in Red Sea

Bulker Maria A. Angelicoussi 169.163 2001 22.505 408 Undisclosed “As Is” Singapore

Bulker F. Star 87.996 1995 12.611 372 Undisclosed “As Is” Inchon

Bulker Supertec 44.600 1978 9.650 381 Bangladesh

Bulker Ula 37.227 1982 8.500 388 India

Bulker Jin Xing 22.782 1985 5.353 360 Bangladesh

General Cargo Amur 7.335 1997 3.733 416 India

Tanker Ji Tai No. 8 5.379 1982 2.091 369 Bangladesh

Tanker Sri Phangnga 1.998 1987 682 382 Bangladesh

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

4 210.000 SWS, China 2021 $ 53m Chinese (ICBC Leasing) Scrubber fitted, 8

years BB

1 59.990 New Dayang, China 2022 Undisclosed Chinese

(Taizhou Mingxing)

1 59.990 New Dayang, China 2022 Undisclosed Chinese (Suzhou Xinxin)

Tankers

Units Dwt Yard Delivery Price Owner Comments

1 300.000 Hyundai Samho, Korea 2021 $ 94,2m Undisclosed

4 50.000 Hyundai Mipo, Korea 2021/2022 $ 33,7m Korean (Pan Ocean)

2+4 18.000 Avic Dingheng, China 2022 $ 29m Norwegian (Stenersen) Dual fuelled

Containers

Units Teu Yard Delivery Price Owner Comments

1 2.200 Imabari, Japan 2022 $ 20m Chinese (ICBC Leasing) BB to Maersk

Gas

Units Cbm Yard Delivery Price Owner Comments

1 88.200 Hyundai Samho, Korea 2022 $ 83,5m Swiss (Geogas Trading) Dual fueled, Shaft

generator

2 80.000 Hudong-Zhonghua, China 2022 $ 120m Malaysian (Petronas)

2 7.600 Hyundai Mipo, Korea 2022 $ 50m Greek (Probunkers) LNG bunkering

NEWBUILDING



0

10

20

30

40

50

60

2317

95,5

1712,5

8,3

2822

13,59,5

3123,5

52

2822

14,3

Mill

ion

US$

BulkersCapesize

Kamsarmax

Panamax

Ultramax

Supramax

Handysize

Prompt Resale 5 years 10 years 15 years

0

20

40

60

80

100

120

4030

1912

5641

2915

72

53

36

21

106

77

52

36

Mill

ion

US$

Tankers

VLCC

Suezmax

Aframax

MR

Prompt Resale 5 years 10 years 15 years

Bulkers Tankers

Size Age Week

5 Week

4 ± %

Size Age

Week 5

Week 4

± %

Capesize 180k Resale 52 52 0,00% VLCC 310k Resale 106 106 0,00%

Capesize 180k 5 years 28 28 0,00% VLCC 310k 5 years 77 77 0,00%

Capesize 180k 10 years 22 22 0,00% VLCC 300k 10 years 52 52 0,00%

Capesize 170k 15 years 14,3 13,5 5,93% VLCC 300k 15 years 36 36 0,00%

Kamsarmax 82k Resale 31 31 0,00% Suezmax 160k Resale 72 72 0,00%

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

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

Panamax 74k 15 years 9,5 9,5 0,00% Suezmax 150k 15 years 21 21 0,00%

Ultramax 63k Resale 28 28 0,00% Aframax 110k Resale 56 56 0,00%

Ultramax 61k 5 years 22 22 0,00% Aframax 110k 5 years 41 41 0,00%

Supramax 58k 5 years 17 17 0,00% Aframax 105k 10 years 29 29 0,00%

Supramax 56k 10 years 12,5 12,5 0,00% Aframax 105k 15 years 15 15 0,00%

Supramax 52k 15 years 8,3 8,3 0,00% MR 52k Resale 40 40 0,00%

Handysize 38k Resale 23 23 0,00% MR 51k 5 years 30 30 0,00%

Handysize 37k 5 years 17 17 0,00% MR 47k 10 years 19 19 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 30-Jan 23-Jan ± (%)

EUR / USD 1,1032 1,1055 -0,21% USD / JPY 108,96 109,49 -0,48%

USD / KRW 1.185,17 1.168,60 1,42% NOK / USD 0,1089 0,1112 -2,07%

Commodities Commodity 30-Jan 23-Jan ± (%)

Brent Crude (BZ) 58,29 62,04 -6,04% WTI Crude Oil (WTI) 52,14 55,59 -6,21%

Natural Gas (NG) 1,83 1,93 -5,18% Gold (GC) 1.589,20 1.565,40 1,52%

Copper (HG) 252,40 272,60 -7,41% Wheat (W) 560,50 580,50 -3,45%

1,08

1,10

1,12

1,14

1,16

EUR / USD

50

55

60

65

70

$/b

bl

Oil Prices

Brent Crude

WTI Crude

KEY INDICATORS



Stock Prices – Shipping Companies

Company Stock Exchange 30-Jan 23-Jan ± (%) Diana Shipping Inc (DSX) NYSE 2,72 2,79 -2,51% Euroseas Ltd (ESEA) NASDAQ 3,06 3,61 -15,24% Eagle Bulk Shipping Inc (EGLE) NASDAQ 3,53 4,05 -12,84% Navios Maritime Holdings Inc (NM) NYSE 3,15 3,68 -14,40% Navios Maritime Partners LP (NMM) NYSE 12,97 15,38 -15,67% Star Bulk Carriers Corp (SBLK) NASDAQ 8,30 9,43 -11,98% Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,39 0,46 -15,22% Safe Bulkers Inc (SB) NYSE 1,32 1,49 -11,41% Golden Ocean Group Ltd (GOGL) NASDAQ 4,56 4,69 -2,77%

Stock Prices - Wet

Company Stock Exchange 30-Jan 23-Jan ± (%) Capital Product Partners LP (CPLP) NASDAQ 12,88 13,31 -3,23% TOP Ships Inc (TOPS) NASDAQ 0,68 0,75 -9,33% Tsakos Energy Navigation Ltd (TNP) NYSE 3,27 3,59 -8,91%

Stock Prices - Other

Company Stock Exchange 30-Jan 23-Jan ± (%) Danaos Corp (DAC) NYSE 6,04 7,33 -17,60% StealthGas Inc (GASS) NASDAQ 3,10 3,29 -5,78% Rio Tinto PLC (RIO) NYSE 55,22 58,91 -6,26% Vale SA (VALE) NYSE 12,01 13,30 -9,70% Archer-Daniels-Midland Co (ADM) NYSE 45,80 44,97 1,85% BHP Group Ltd (BHP) NYSE 52,98 55,64 -4,78%

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 5 · WEEKLY SHIPPING MARKET REPORT - pg. 2 Week 5 (24th Jan to 31st Jan 2020) Capesize 40.000 Week 05 found iron ore freight rates on the West Australia