Monthly Market Report
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1 Secondhand Market page 1/2 Overview of S&P Activity page 1 Top Ranking of Buyers page 1 S&P Activity Statistics page 2 Greek Presence page 2 Chinese Presence page 2 Demolition Market page 3/4 Overview of Demo Activity page 3 Top Ranking of Demo Countries page 3 Demo Activity Statistics page 5 Demo Activity-Countries page 4/5 Pakistan /India/Bdesh page 4 China page 5 Special Feature-Dry Period page 6/7 Bulk Carriers Fixture Activity Capesize page 6 Post Panamax page 6 Kamsarmax page 6 Panamax page 6 Supramax page 7 Handymax page 7 Handysize page 7 Total Fixture Activity page 7 Freight Market Performance page 8/9 Dry Market - Charts Baltic Dry Indices page 8 BDI & TC Average Earnings page 8 Tanker Market - Charts Baltic Tanker Indices page 9 Summary of Baltic Indices page 9 Summary of Baltic TC Avg. Earnings page 9 SECONDHAND MARKET DEMOLITION MARKET BULK CARRIERS PERIOD MARKET FREIGHT RATES BALTIC INDICES GRAPHICAL ANALYSIS OF BALTIC INDICES Monthly Market Report Issue May 2018 All the information contained in this report is given in good faith, but without any guarantee from our part, and is based on our S&P Market Reports and Insight Market Information provided and/or collected from various sources. This report is presented for the sole and exclusive information of its recipients and whilst every care has been taken in the preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness or correctness of the information contained herein. Neither our company nor its directors or employees assumes or accepts any liability whatsoever for any loss or damage incurred by any person whatsoever in relation to and/or as a result of the use of and/or due to any person s reliance on the information contained in this report. Furthermore, no responsibility is accepted in respect of any errors or inaccuracies which may be contained in this report. 0
2 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH GOLDEN DESTINY RESEARCH SERVICES WEEKLY PUBLICATIONS: Weekly S&P Market Report MONTHLY PUBLICATIONS: Monthly S&P Market Report Monthly Newbuilding Market Report ANNUAL PUBLICATIONS: Annual S&P Statistics for the pace of shipping investments SPECIAL EDITIONS: Weekly S&P Market Trends Other Reports / Analysis concerning the outlook of Secondhand / Demolition / Newbuilding Transactions Website: Research & Valuations: snv@goldendestiny.com Sale & Purchase: snp@goldendestiny.com Marine Insurance: marins@goldendestiny.com GOLDEN DESTINY PIRAEUS: 57 AKTI MIAOULI TEL: FAX:
3 SECONDHAND MARKET - Overview of S&P Activity Top Ranking of Buyers No. of Vessels Changed Hands May Previous Month m-o-m May-17 y-o-y % % Average Age of Vessels Sold (in Total): 10 yrs old built 2008 Total Invested Capital: 2,100,850,000 S&P deals reported at an undisclosed sale price: 45 Average Dwt Sold: 66,318 Bulkers 7% m-o-m 160% y-o-y Average Age of Vessels Sold: S&P deals reported at an undisclosed sale price: 9 yrs old built Total Invested Capital: 947,600,000 Units: 78 Average Dwt Sold: 76,040 Tankers -7% m-o-m -20% y-o-y Total Invested Capital: 325,250,000 Average Age of Vessels Sold: 11 yrs old built 2007 Units: 40 S&P deals reported at an undisclosed sale price: 15 Average Dwt Sold: 73,347 Containers -54% m-o-m -48% y-o-y Total Invested Capital: 191,850,000 Average Age of Vessels Sold: 12 yrs old built 2007 Units: 12 S&P deals reported at an undisclosed sale price: 1 Average Dwt Sold: 47,140 Secondhand Buying Trends (S&P Activity Reported per Vessel Size - Current Month) Bulkers No. of S&P deals Average Dwt Average Built VLOC Newcastlemax 3 2, Capesize 9 177, Post Panamax Kamsarmax 17 82, Panamax 6 74, Ultramax 2 62, Supramax 17 55, Handymax 1 43, Handysize 20 34, Handy 3 26, Small Tankers No. of S&P deals Average Dwt Average Built VLCC 4 232, Suezmax 1 159, Aframax 5 111, Panamax 7 73, MR/Handymax 15 45, Handy 3 20, Small 5 4, Containers No. of S&P deals Average Dwt Average Built ULCV Neopanamax Post-Panamax 3 107, Panamax Feedermax 1 51, Feeder 3 34, Small feeder 5 17, Page 1
4 SECONDHAND MARKET S&P Activity (No of Units Changed Hands, Dwt, Invested Capital) Greek Presence (No of Vessel Purchases, Dwt, Invested Capital) Chinese Presence (No of Vessel Purchases, Dwt, Invested Capital) S&P Activity (Secondhand Market) Vessel Type Units Dwt ($) Invested P&C Auction Units %m-o-m Units %y-o-y Bulk Carriers 78 5,931, ,600, % % Tankers 40 2,933, ,250, % 50-20% Gas Tankers 1 2,981 3,600, % 5-80% General Cargo/MPP 2 16,837 3,950, % 3-33% Containers , ,850, % 23-48% Reefers Passenger/Cruise 2 6, % 3-33% Ro-Ro % 0 Car Carrier % Combined Special Projects , ,600, % 10 0% 145 9,616,127 2,100,850, % % GREEK PRESENCE 24% share to the total S&P Activity Vessel Purchases (Secondhand Market) Vessel Type Units Dwt ($) Invested P&C Auction Units %m-o-m Units %y-o-y Bulk Carriers 20 1,866, ,400, % 9 122% Tankers 10 1,421, ,050, % 15-33% Gas Tankers General Cargo/MPP % Containers 5 358, ,650, % 2 150% Reefers Passenger/Cruise Ro-Ro Car Carrier Combined Special Projects % 1-100% 35 3,646, ,100, % 28 25% CHINESE PRESENCE 16% share to the total S&P Activity Vessel Purchases (Secondhand Market) Vessel Type Units Dwt ($) Invested P&C Auction Units %m-o-m Units %y-o-y Bulk Carriers 19 1,593, ,000, % 11 73% Tankers 3 269, % 4-25% Gas Tankers % General Cargo/MPP 1 8,537 1,950, % 0 Containers % Reefers Passenger/Cruise Ro-Ro Car Carrier Combined Special Projects % 23 1,872, ,950, % 19 21% Page 2
5 DEMOLITION MARKET - Overview of Demo Activity Top Ranking of Demo Countries May-18 Previous Month m-o-m May-17 y-o-y No. of Vessel Demolitions % 76-36% Average Age of Vessels Scrapped: 28 yrs old built 1990 Total Deadweight: 2,829,234 Average Dwt : 57,739 Bulkers 700% m-o-m -72% y-o-y Total Deadweight: 467,098 Units: 8 Average Age of Vessels Scrapped: 31.5 yrs old built 1987 Average Dwt : 58,387 Tankers -6% m-o-m 240% y-o-y Total Deadweight: 1,963,939 Units: 17 Average Age of Vessels Scrapped: 24 yrs old built 1994 Average Dwt : 115,526 Containers -50% m-o-m -90% y-o-y Total Deadweight: 48,304 Units: 1 Average Age of Vessels Scrapped: 20 yrs old built 1998 Average Dwt : 48,304 Demolition Trends (Scrapping Activity Reported per Vessel Size - Current Month) Bulkers No. of Demolitions Average Dwt Average Built VLOC Newcastlemax Capesize 2 162, Post Panamax Panamax Handymax 1 44, Handysize 1 33, Handy 3 18, Small 1 9, Tankers No. of Demolitions Average Dwt Average Built VLCC 4 304, Suezmax 1 126, Aframax 3 102, Panamax 1 72, MR/Handymax 3 46, Handy 4 23, Small 1 6, Containers No. of Demolitions Average Dwt Average Built ULCV Neopanamax Post-Panamax Panamax Feedermax 1 48, Feeder Small feeder Page 3
6 Demo Activity (No of Units Demolished, Dwt) per vessel type Demo Activity per Demolition Country (Bangladesh, India) DEMOLITION MARKET Demo Activity (Demoltion Market) Vessel Type Units Dwt Units %m-o-m Units %y-o-y Bulk Carriers 8 467, % 29-72% Tankers 17 1,963, % 5 240% Gas Tankers 9 257, % 1 800% General Cargo/MPP 6 53, % 8-25% Containers 1 48, % 10-90% Reefers 2 16, % 2 0% Passenger/Cruise % 4-100% Ro-Ro 2 13, % 4-50% Car Carrier Combined Special Projects 4 7, % 13-69% 49 2,829, % 76-36% India 27% share of total Demo Activity Vessel Type Units Dwt Units %m-o-m Units %y-o-y Bulk Carriers 1 44, % Tankers 3 358, % 2 50% Gas Tankers 3 23, % 0 General Cargo/MPP 2 21, % 4-50% Containers % Reefers 2 16, % 1 100% Passenger/Cruise % 1-100% Ro-Ro % 1-100% Car Carrier Combined Special Projects 2 3, % , % 18-28% Bangladesh 8% share of total Demo Activity Vessel Type Units Dwt Units %m-o-m Units %y-o-y Bulk Carriers 1 25, Tankers 2 48, % 1 100% Gas Tankers % 1-100% General Cargo/MPP 1 8, % 2-50% Containers % Reefers % 0 Passenger/Cruise Ro-Ro % Car Carrier Combined Special Projects % 4 82, % 9-56% Page 4
7 Demo Activity per Demolition Country (Pakistan, China) Pakistan 18% share of total Demo Activity Vessel Type Units Dwt Units %m-o-m Units %y-o-y Bulk Carriers 3 340, % Tankers 4 536, % 0 Gas Tankers General Cargo/MPP 1 12, % Containers Reefers Passenger/Cruise Ro-Ro 1 12, Car Carrier Combined Special Projects % , % 11-18% DEMOLITION MARKET China 0% share of total Demo Activity Vessel Type Units Dwt Units %m-o-m Units %y-o-y Bulk Carriers % Tankers Gas Tankers General Cargo/MPP Containers % Reefers Passenger/Cruise Ro-Ro % Car Carrier Combined Special Projects % 1-100% % % Page 5
8 SPECIAL FEATURE DRY PERIOD MARKET Bulk Carriers Fixture Activity ( No. of Fixtures per vessel size /age and type of fixture period) CAPESIZE / POST PANAMAX/ KAMSARAMAX / PANAMAX BULK CARRIERS FIXTURE ACTIVITY IN MAY 2018 CAPESIZE (120, ,999 DWT) - PER VESSEL'S AGE UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS POST PANAMAX - PER VESSEL'S AGE UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS KAMSARMAX - PER VESSEL'S AGE >=2016 N/B UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS ULTRAMAX/PANAMAX (60,000-76,999 DWT) - PER VESSEL'S AGE UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS Page 6
9 SPECIAL FEATURE DRY PERIOD MARKET Bulk Carriers Fixture Activity ( No. of Fixtures per vessel size /age and type of fixture period) SUPRAMAX / HANDYMAX/ HANDYSIZE SUPRAMAX (50,000-59,999 DWT) - PER VESSEL'S AGE UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS HANDYMAX (38,000-49,999 DWT) - PER VESSEL'S AGE UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS HANDYSIZE (22,000-37,9999 DWT) - PER VESSEL'S AGE UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS BULK CARRIERS FIXTURE ACTIVITY PERIOD MARKET - BULK CARRIERS FIXTURE ACTIVITY,MAY 2018 Previous Month N/B UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS UP TO 30YRS Units % m-o-m >= CAPESIZE % POST PANAMAX % KAMSARMAX % PANAMAX % SUPRAMAX % HANDYMAX % HANDYSIZE % Page 7
10 1/5/2018 2/5/2018 3/5/2018 4/5/2018 5/5/2018 6/5/2018 7/5/2018 8/5/2018 9/5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/2018 INDEX VALUE 5/1/2018 5/2/2018 5/3/2018 5/4/2018 5/5/2018 5/6/2018 5/7/2018 5/8/2018 5/9/2018 5/10/2018 5/11/2018 5/12/2018 5/13/2018 5/14/2018 5/15/2018 5/16/2018 5/17/2018 5/18/2018 5/19/2018 5/20/2018 5/21/2018 5/22/2018 5/23/2018 5/24/2018 5/25/2018 5/26/2018 5/27/2018 5/28/2018 5/29/2018 5/30/2018 5/31/2018 INDEX VALUE GOLDEN DESTINY established since 1994 FREIGHT MARKET PERFORMANCE DRY MARKET-BALTIC DRY INDICES-CHARTS BALTIC DRY INDEX / BALTIC CAPESIZE / BALTIC PANAMAX INDEX / BALTIC SUPRAMAX / BALTIC HANDYSIZE INDEX BALTIC DRY INDICES - MAY ,800 2,600 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1, BDI BHSI BSI BPI BCI BALTIC TC AVERAGE EARNINGS CAPESIZE / PANAMAX / SUPRAMAX / HANDYSIZE BDI & TC AVERAGE EARNINGS -MAY ,650 2,450 2,250 2,050 1,850 1,650 1,450 1,250 1, ,000 21,000 20,000 19,000 18,000 17,000 16,000 15,000 14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000 BDI BHSI BSI BPI BCI Page 8
11 1/5/2018 2/5/2018 3/5/2018 4/5/2018 5/5/2018 6/5/2018 7/5/2018 8/5/2018 9/5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/ /5/2018 INDEX VALUE GOLDEN DESTINY established since 1994 FREIGHT MARKET PERFORMANCE TANKER MARKET-BALTIC INDICES-CHARTS BALTIC TANKER INDICES (BALTIC CLEAN AND BALTIC DIRTY) BALTIC DRY & TANKER INDICES -MAY ,550 1,500 1,450 1,400 1,350 1,300 1,250 1,200 1,150 1,100 1,050 1, BCTI-WET BDTI-WET BDI-DRY Summary of Baltic Indices & Average Time Charter Earnings May-18 Dry Current Previous Change % m-o-m May-17 Change % y-o-y Low High BDI 1,293 1, % % 1,042 1,476 BCI 2,076 1, % 1, % 1,276 2,635 BPI 1,230 1, % % 1,149 1,271 BSI 1,059 1, % % 1,043 1,074 BHSI % % May-18 Wet Current Previous Change % m-o-m May-17 Change % y-o-y Low High Dirty-BDTI % % Clean-BCTI % % May-18 Average T/C routes Current Previous Change % m-o-m May-17 Change % y-o-y Low High Capesize 16,294 11,708 4,586 39% 12,076 4,218 35% 10,583 20,801 Panamax 9,911 10, % 7,609 2,302 30% 9,262 10,223 Supramax 11,030 10, % 8,727 2,303 26% 10,925 11,151 Handy 8,583 9, % 7,296 1,287 18% 8,491 8,772 Page 9
Monthly Market Report
Secondhand Market page 1/2 Overview of S&P Activity page 1 Top Ranking of Buyers page 1 S&P Activity Statistics page 2 Greek Presence page 2 Chinese Presence page 2 Demolition Market page 3/4 Overview
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