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July 2016
MONTHLY REPORT
12000
Baltic Dry Index
10000
8000
6000
4000
2000
0
Mar-10
Mar-07
Mar-08
Mar-09
Mar-11
Mar-12
Mar-13
Nov-13
Mar-14
Mar-15
Mar-16
Jul-06
Nov-06
Jul-07
Nov-07
Jul-08
Nov-08
Jul-09
Nov-09
Jul-10
Nov-10
Jul-11
Nov-11
Jul-12
Nov-12
Jul-13
Jul-14
Nov-14
Jul-15
Nov-15
Jul-16
PRICES TANKERS ($ MIO)
* Prices reflect Year’s End 2010* 2011* 2012* 2013* 2014* 2015* Jul-16
VLCC 5Y 87.8 55.6 56.0 55.8 77.1 80 64
VLCC 10Y 64.3 34.1 35.0 35.0 52.1 55 44
SUEZMAX 5Y 62.8 45.6 40.2 39.5 56.8 60 47.5
AFRAMAX 5Y 44.5 34.7 28.0 27.8 41.9 46 35
AFRAMAX10Y 30.7 19.3 16.3 16.3 26.8 31 22
PANAMAX5Y 39.0 30.9 24.3 24.3 33.4 35 32.5
45K 5Y D/H 27.3 25.8 23.0 23.3 23.8 28.9 23
45K 10Y D/H 19.7 15.8 15.5 15.7 15.2 19.6 16.5
45K 20Y 6.7 6.0 6.2 6.2 6.5 8.5 6.5
90.0
60000
80.0
70.0 50000
60.0
40000
50.0
Price (USD Mio)
Price (USD)
30000
40.0
30.0 20000
20.0
10000
10.0
0.0 0
VLCC 5Y VLCC 10Y SMAX 5Y AMAX 5Y VLCC 1 Yr T/C SMAX 1 Yr T/C AMAX 1 Yr T/C
AMAX 10Y PMAX 5Y 45K 5Y D/H 45K 10Y D/H PMAX 1 Yr T/C MR 1 Yr T/C
60.0 35000
30000
50.0
Prices (USD Mio)
25000
40.0
Price (USD)
20000
30.0
15000
20.0
10000
10.0
5000
0.0 0
300 150
139
200 236 100
100 150 56 50 37 41
51 55
0 0
THIS MONTH - PREVIOUS MONTH THIS MONTH - PREVIOUS MONTH
TANKER SALES
NAME DWT BLT PRICE $ BUYER
KEY SOUTH 6412 2010 TURKEY DH 10 MIO SEATANK (Marineline)
SARA 6608 1990 ITALY DH 2.5 MIO UNDISCLOSED
KELP 8424 2002 JAPAN DH 7.8 MIO S KOREAN (STST)
HARBOUR LEGEND 10052 2004 TURKEY DH 5.5 MIO UNDISCLOSED
JO SPIRIT 6285 1998 SPAIN DH * ENBLOC BSS▼
JO KIRI 19508 2003 JAPAN DH * ENBLOC BSS▼
JO ILEX 19735 2010 JAPAN DH * ENBLOC BSS▼
JO BETULA 25024 2003 JAPAN DH * ENBLOC BSS▼
JO KASHI 25148 2003 JAPAN DH * ENBLOC BSS▼
JO ACER 29709 2004 JAPAN DH * ENBLOC BSS▼
JO LOTUS 30000 2014 CHINA DH * ENBLOC BSS▼
JO LARIX 30000 2015 CHINA DH * ENBLOC BSS▼
GREAT *
SYPRESS 36677 1998 DH ENBLOC BSS▼
BRITAIN
CEDAR 36733 1994 NORWAY DH * ENBLOC BSS▼
GREAT *
SELJE 36778 1993 DH ENBLOC BSS▼
BRITAIN
SPRUCE 36778 1993 NORWAY DH * ENBLOC BSS▼
SEQUOIA 37620 2003 NORWAY DH * ENBLOC BSS▼
STOLT NIELSEN (Ttl Price. Majority
SYCAMORE 37622 2000 NORWAY DH 575 MIO STST tankers. Incl 50% stake in 7
newbuildings)
MTM WESTPORT 20895 2000 JAPAN DH 13 MIO UNDISCLOSED (STST)
TEESTA SPIRIT 46921 2004 KOREA DH 14.5 MIO GREEK
SRIRACHA TRADER 47629 1995 JAPAN DH 3.8 MIO MID EASTERN
GAS SALES
NAME DWT BLT CBM PRICE $ BUYER
GAS ORIENTAL 26534 2003 KOREA 35533 25 MIO UNDISCLOSED
BW BORG 54826 2001 JAPAN 84333 42.5 MIO VARUN SHIPPING
VLCC
SUEZMAX
Spot Market - Tankers AFRAMAX
110000
100000
90000
80000
70000
60000
$/Day
50000
40000
30000 24150
20000 13800
10000
0 14250
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16
VLCC
SUEZMAX
Period Market - Tankers 1 Year T/C AFRAMAX
70000
60000
50000
$/Day
40000
30000 32000
26000
20000 19750
10000
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16
320 555
01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016 01/07/2016 08/07/2016 15/07/2016 22/07/2016 29/07/2016
BULKER SALES
NAME DWT BLT GEAR PRICE $ BUYER
WILSON ROUEN 6085 1976 NORWAY GLESS 0.45 MIO UNDISCLOSED
SHIN CHUETSU 25331 1998 JAPAN CR 2X12.5 1.9 MIO TAIWANESE (Woodchip)
CAJU 28074 2000 CHINA CR 4X30 2.45 MIO MID EASTERN
DAISY K 28420 2012 JAPAN CR 4X30 8.4 MIO UNDISCLOSED
CAPE SPENCER 28799 1997 JAPAN CR 4X30 2.4 MIO CHINESE
NEW MARINER 31024 1999 KOREA CR 4X30 2.9 MIO ENBLOC BSS▼
NEW LAUREL 31025 1999 KOREA CR 4X30 2.75 MIO KOREAN (price each)
CS SALINA 32355 2004 JAPAN CR 4X30 4.85 MIO GREEK
KANDA 558 32600 2016 JAPAN CR 4X30 16.5 MIO UNDISCLOSED
GREAT PRIDE 33773 2004 JAPAN CR 4X30 6.2 MIO HONG KONG
TRADING FABRIZIA 35000 2011 KOREA CR 4X35 8.5 MIO UNDISCLOSED
OCEAN CRYSTAL 37156 2012 JAPAN CR 4X30 13 MIO JAPANESE
ATLAS EXPLORER 45642 1995 JAPAN CR 4X25 2.2 MIO UNDISCLOSED
VIPAVA 46570 1998 JAPAN CR 4X30 2.55 MIO UNDISCLOSED
WINGSAIL 48220 1999 JAPAN CR 4X30 2.35 MIO UNDISCLOSED (Damaged crane)
BLUE SAPPHIRE 48907 2001 JAPAN CR 4X30 3.1 MIO MID EASTERN
ATLANTIC ALTAMIRA 51024 2001 JAPAN CR 4X30 3.6 MIO UNDISCLOSED (SS/DD D 09/16)
MAPLE GROVE 53474 2006 JAPAN CR 4X30 7.7 MIO MEGHNA SHIPPING
ALAM MURNI 53553 2003 JAPAN CR 4X30 4.9 MIO UNDISCLOSED
INDIGO 53609 2003 JAPAN CR 4X30 * ENBLOC BSS▼
ARGO 76728 2005 JAPAN GLESS 12.9 MIO GREEK (Ttl Price)
PEACE 55000 2011 CHINA CR 4X30 5.62 MIO UNDISCLOSED (Via Auction)
OCEAN PEARL 55557 2004 JAPAN CR 4X30 * ENBLOC BSS▼
OCEAN FREEDOM 55771 2010 JAPAN CR 4X30 * ENBLOC BSS▼
OCEAN FUTURE 55848 2010 JAPAN CR 4X30 * ENBLOC BSS▼
www.atheniansa.gr ATHENIAN SHIPBROKERS S.A.
7
CAPESIZE
18000
16000
14000
12000
10000
8050
$/Day
8000
6150
6000 5700
4000
2000
0
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16
CAPE
HANDYMAX
13100
12100
11100
10100
9100 4
8100
$/Day
7825
7100 6375
6100 6500
5100
4100
Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16
CONTAINER SALES
NAME DWT BLT GEAR TEU PRICE $ BUYER
7.5 MIO
ANNABELLA S 11273 2006 GERMANY GLESS 868 WEC
EUR
SITC NINGBO 12613 2004 JAPAN GLESS 831 6.6 MIO SITC (10yrs TCB)
WEHR ELBE 33657 2001 GERMANY CR 3X45 2524 3.75 MIO ENBLOC BSS▼
WEHR WESER 33691 2001 GERMANY CR 3X45 2524 3.75 MIO SWISS (Price each)
COLUMBIA 53511 2002 KOREA GLESS 4713 4.7 MIO CHINESE
MPP/TWEEN SALES
NAME DWT BLT GEAR TEU PRICE $ BUYER
EGGELLA 9000 2015 CHINA CR 2X55 630 6 MIO NEPTUNE PACIFIC
KEIZERSBORG 9150 1996 NETHERLANDS GLESS 494 2.6 MIO UNDISCLOSED
PAC DUBHE 27408 2006 CHINA CR 2X45, CR 2X40 1364 4 MIO UNDISCLOSED
120 60
55
100 50
45
88 5 42
1 40
80
$m
35
$m
60 30
57 24.2
5 47 25
40 3 20 22.3
33.2 15 19.5
20 10
Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 Jul-16 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 Jul-16
500 39.3
398 40
m. dwt
33.9
400 30.4
30 25
300 235 21.2
208 20
200 142 128
100 10
62 41
35
0 0
2014 2015 Jul-16 Jul-16 2017 2018+
Tanker Newbuildings on Order VLCC Suezmax Bulker Newbuildings on Order Capesize Panamax
Aframax Panamax
Products Handymax Handysize
40 37 60
35 50 49
30
40
m. dwt
30.6
25
m. dwt
20 17.1 17.7 30
14.4 22.7
15 20 12
10 4.9
10
5
0 0
July 2016 July 2016
Bulkers
180,000 DWT1 42 46 54.2 53.6 45.7 48.4 57.2 55.5 87 58.5 40.5 42.3 60.2 29.3
73,000 DWT1 24.2 25.7 29 27.8 25.6 28.7 34.3 34.5 45.5 36 22.5 27.9 30 13.4
45,000 DWT 22.3 24.1 27.2 26.5 23.7 26.7 31.1 29 41 31 20.5 24.1 25.3 12.4
29,000 DWT 19.5 20.3 22.8 22.2 20.5 22.2 26.3 24.5 31 25.5 15 19.2 21.3 9.7
1 2 3
Before 2001 sizes to read 280,000 - 140,000 - 95,000 - 40,000 respectively for tankers and 150,000 - 69,000 for Bulkers Single Hull
30,000 DWT
(note: above is for vessels built Japan / Korea, you should also consider US$ / Yen / Won relation for the years mentioned)
DEMOLITION MARKET
Demolition Prices
Gen Cargo Tanker
India USD 255 /lt Ldt USD 280 /lt Ldt
Bangladesh USD 265 /lt Ldt USD 285 /lt Ldt
Pakistan USD 250 /lt Ldt USD 275 /lt Ldt
China USD 165 /lt Ldt USD 170 /lt Ldt
2013 2014
Price Tankers*
2015 2016
580
530
480
USD/ton
430
380
330 280 280 295 280 280
270
280 250
230
180
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
*India month's end prices
2013 2014
Price Bulkers*
2015 2016
580
530
480
430
380
USD/ton
330 275
260 260 260 255
280 225 240
230
180
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
*India month's end prices
38
40 34.3
30.5 31.58 29.7
28.4 28.5 27 28.9
30 25.6 25
22.4
25.7
18.9 18
20 14.5 15.9 16.7 15.5 15.6
10 12
10 4.9 4.6 3.8 5.5 6.5 5
2.35
0
500
400 TANKERS
USD/ton
300 BULKERS
100
India
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK SPRING BAY 5450 1987 2367 252 In damaged cond. Incl 150T ROB
BULK SUCHADA NAREE 23732 1994 5000 260
BULK CHALOTHORN NAREE 27079 1996 6040 253
BULK OCEAN WHISPER 27652 1986 5903 255
BULK TIVOLI 28611 1997 6633 160 Under tow. As is Batam
BULK TRUE BROTHERS 29643 1985 6135 253
BULK MEVLANA 37705 1984 7600 255
BULK APJ AKHIL 39989 1989 10306 257
BULK DESPINA 65644 1993 11610 255 As is Fujairah, incl ROB for voy
CONT E.R. SANTIAGO 30720 1998 11464 280
CONT NORTHERN ENDURANCE 33838 2001 10882 286
CONT HAMMONIA IONIUM 34809 1997 11132 295
CONT CHICAGO BRIDGE 67170 2001 24500 283 As is Singapore incl ROB for voy
As is Shanghai Incl sufficient ROB
CONT DS NATIONAL 80494 2001 27200 274
for voy
As is Shanghai Incl sufficient ROB
CONT DS PATRIOT 80551 2001 27200 274
for voy
GAS GAS SUEZ 16663 1978 8973 285
BULK SAPPHIRE ACE 15204 1993 12200 220 Green recycling
Bangladesh
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK FAREAST SUNNY 42248 1989 6506 260
BULK MINBEI 42609 1986 7358 250
BULK EVER BLOSSOM 69999 1997 10105 278
BULK SAMUDERA 72421 1997 10201 254
CONT SAN DIEGO 63250 1997 18796 285 As is Singapore with ROB for voy
LVSTK LINCOLN EXPRESS 1748 1987 1446 235
China
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
N/A N/A N/A
Pakistan
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
BULK ORIENTAL TREASURE 151177 1994 17859 279 BULK
BULK BADRI PRASAD 151418 1990 17618 270 BULK
Turkey
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
N/A N/A N/A
Other
TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS
N/A N/A N/A
400 Rotterdam
Fujeirah
300
Houston
200
Average Trend
100
0
1000
800
USD/ton
600 Rotterdam
Fujeirah
400
Houston
200 Average Trend
MARKET INDICATORS
USD-EUR
Currencies USD-JPY
1.80 130
1.60 120
1.40 110
USD-JPY
USD-EUR
1.20 100
1.00 90
0.80 80
0.60 70
0.40 60
Brent Oil
160.00
140.00
120.00
100.00
$/Barrel
80.00
60.00
40.00
20.00
0.00
STOCK WATCH
NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW
Eagle Bulk Shipping Inc. EGLE 0.42 0.44 -4.3 9.15 0.30
Star Bulk Carriers Corp. SBLK 4.00 2.96 35.1 16.05 1.57
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,