Monthly Market Report

[Pages:11]Secondhand Market

page 1/2

Overview of S&P Activity Top Ranking of Buyers S&P Activity ?Statistics Greek Presence Chinese Presence

page 1 page 1 page 2 page 2 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 Bulk Carriers Fixture Activity

page 6/7

Capesize Post Panamax Kamsarmax Panamax Supramax Handymax Handysize Total Fixture Activity

page 6 page 6 page 6 page 6 page 7 page 7 page 7 page 7

Freight Market Performance

page 8/9

Dry Market - Charts Baltic Dry Indices BDI & TC Average Earnings

page 8 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 April 2019

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

GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH

GOLDEN DESTINY RESEARCH SERVICES WEEKLY PUBLICATIONS:

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MONTHLY PUBLICATIONS:

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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:

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GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH

April 2019

SECONDHAND MARKET - Overview of S&P Activity

Top Ranking of Buyers

No. of Vessels Changed Hands

Apr-19 147

Previous Month m-o-m

109

35%

Apr-18 154

y-o-y -5%

Average Age of Vessels Sold (in Total):

13 yrs old built 2006

S&P deals reported at an undisclosed sale price:

24

Bulkers

36% m-o-m

-9% y-o-y

Average Age of Vessels Sold:

12 yrs old built 2007

S&P deals reported at an undisclosed sale price:

4

Tankers

37% m-o-m

30% y-o-y

Average Age of Vessels Sold:

12 yrs old built 2007

S&P deals reported at an undisclosed sale price:

12

Containers 150% m-o-m

-25% y-o-y

Average Age of Vessels Sold:

12 yrs old built 2007

S&P deals reported at an undisclosed sale price:

1

Secondhand Buying Trends (S&P Activity Reported per Vessel Size - Current Month)

Bulkers

No. of S&P deals Average Dwt Average Built

VLOC

-

-

-

Newcastlemax

-

-

-

Capesize

3

177,245

2003

Post Panamax

-

-

-

Kamsarmax

1

87,052

2005

Panamax

7

76,006

2003

Ultramax

12

62,466

2016

Supramax

21

54,988

2007

Handymax

5

45,677

1997

Handysize

9

33,295

2010

Handy

6

19,425

1999

Small

-

-

-

Tankers

No. of S&P deals Average Dwt Average Built

VLCC

4

303,224

2005

Suezmax

5

155,496

2001

Aframax

5

112,278

2012

Panamax

2

74,999

2012

MR/Handymax

24

45,549

2008

Handy Small

8

16,595

2006

4

8,445

2005

Containers ULCV Neopanamax Post-Panamax Panamax Feedermax Feeder Small feeder

No. of S&P deals Average Dwt Average Built

-

-

-

2

141,550

2012

-

-

-

3

77,875

2004

8

47,851

2008

1

13,760

2006

1

12,473

2004

MONTHLY MARKET REPORT

Total Invested Capital: 1,693,725,000 Average Dwt Sold: 59,629

Total Invested Capital: 686,350,000 Units: 64

Average Dwt Sold: 57,809 Total Invested Capital: 661,300,000

Units: 52 Average Dwt Sold: 76,182 Total Invested Capital: 270,650,000

Units: 15 Average Dwt Sold: 61,718

Page 1

GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH

SECONDHAND MARKET

April 2019

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

Bulk Carriers

64 3,699,750

Tankers

52 3,961,481

Gas Tankers

5 110,116

General Cargo/MPP 3 39,545

Containers

15 925,763

Reefers

0

0

Passenger/Cruise 3 12,849

Ro-Ro

0

0

Car Carrier

0

0

Combined

0

0

Special Projects

5 15,905

TOTAL

147 8,765,409

($) Invested 686,350,000 661,300,000 10,500,000 25,800,000 270,650,000

0 3,000,000

0 0 0 36,125,000 1,693,725,000

Previous Month Previous Year

P&C Auction Units %m-o-m Units %y-o-y

4

0

47

36%

70

-9%

12

0

38

37%

40

30%

4

0

6

-17%

2

150%

1

0

1

200%

3

0%

1

0

6

150% 20 -25%

0

0

0

0

2

0

1

200%

1

200%

0

0

1

-100%

1

-100%

0

0

0

0

0

0

0

0

0

0

9

-44%

17 -71%

24

0

109 35% 154 -5%

GREEK PRESENCE

13% share to the total S&P Activity

Vessel Purchases (Secondhand Market)

Vessel Type

Units

Bulk Carriers

8

Tankers

8

Gas Tankers

0

General Cargo/MPP 0

Containers

2

Reefers

0

Passenger/Cruise 1

Ro-Ro

0

Car Carrier

0

Combined

0

Special Projects

0

TOTAL

19

Dwt ($) Invested

416,773

80,350,000

1,198,956

138,100,000

0

0

0

0

162,342

29,000,000

0

0

207

3,000,000

0

0

0

0

0

0

0

0

1,778,278

250,450,000

Previous Month Previous Year

P&C Auction Units %m-o-m Units %y-o-y

0

0

6

33%

24 -67%

0

0

5

60%

11 -27%

0

0

0

0

0

0

0

0

0

0

2

0%

5

-60%

0

0

0

0

0

0

0

0

0

0

0

1 -100%

0

0

0

0

0

0

0

0

0

0

2 -100% 3 -100%

0

0

15

27%

44 -57%

CHINESE PRESENCE

18% share to the total S&P Activity

Vessel Purchases (Secondhand Market)

Vessel Type

Units

Bulk Carriers

20

Tankers

6

Gas Tankers

1

General Cargo/MPP 0

Containers

0

Reefers

0

Passenger/Cruise 0

Ro-Ro

0

Car Carrier

0

Combined

0

Special Projects

0

TOTAL

27

Dwt ($) Invested

1,479,370

285,750,000

347,829

114,000,000

49,743

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

1,876,942

399,750,000

Previous Month Previous Year

P&C Auction Units %m-o-m Units %y-o-y

0

0

16

25%

10 100%

0

0

1

500%

1

500%

1

0

1

0%

0

0

0

0

2 -100%

0

0

2 -100% 0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

1

0

20

35%

13 108%

MONTHLY MARKET REPORT

Page 2

GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH

April 2019

No. of Vessel Demolitions

DEMOLITION MARKET - Overview of Demo Activity

Top Ranking of Demo Countries

Apr-19 53

Previous Month 41

m-o-m 29%

Apr-18 53

y-o-y 0%

Average Age of Vessels Scrapped:

25 yrs old built 1994

Bulkers

-10% m-o-m

350% y-o-y

Average Age of Vessels Scrapped:

25 yrs old built 1994

Tankers

250% m-o-m

-59% y-o-y

Average Age of Vessels Scrapped:

29 yrs old built 1990

Containers

0% m-o-m

500% y-o-y

Average Age of Vessels Scrapped:

23 yrs old built 1996

Demolition Trends (Scrapping Activity Reported per Vessel Size - Current Month)

Bulkers

No. of Demolitions Average Dwt Average Built

VLOC

-

-

-

Newcastlemax

2

246,246

1993

Capesize

4

164,802

1999

Post Panamax

-

-

-

Panamax

-

-

-

Handymax

1

50,587

1993

Handysize

-

-

-

Handy

2

20,085

1986

Small

-

-

-

Tankers

No. of Demolitions Average Dwt Average Built

VLCC

2

247,247

1984

Suezmax

1

126,955

1998

Aframax

-

-

-

Panamax

-

-

-

MR/Handymax

1

45,018

1989

Handy

2

19,212

1998

Small

1

5,615

1978

Containers No. of Demolitions Average Dwt Average Built

ULCV

-

Neopanamax

-

Post-Panamax

-

-

-

-

-

-

-

Panamax

-

-

-

Feedermax

2

48,718

1998

Feeder

9

Small feeder

1

21,389

1996

8,609

1991

MONTHLY MARKET REPORT

Total Deadweight: 2,561,598 Average Dwt : 48,332

Total Deadweight: 1,242,455 Units: 9

Average Dwt : 138,051 Total Deadweight: 710,505

Units: 7 Average Dwt : 101,501 Total Deadweight: 298,550

Units: 12 Average Dwt : 24,879

Page 3

GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH

April 2019

DEMOLITION MARKET

Demo Activity (No of Units Demolished, Dwt) per vessel type Demo Activity per Demolition Country (Bangladesh, India)

Demo Activity (Demoltion Market)

Previous Month

Vessel Type

Units

Dwt

Units %m-o-m

Bulk Carriers

9

1,242,455 10

-10%

Tankers

7

710,505

2

250%

Gas Tankers

3

15,283

2

50%

General Cargo/MPP

2

7,954

2

0%

Containers

12

298,550

12

0%

Reefers

3

26,575

2

50%

Passenger/Cruise

1

8,677

1

0%

Ro-Ro

1

3,956

2

-50%

Car Carrier

0

0

0

Combined

2

219,559

0

Special Projects

13

28,084

8

63%

TOTAL

53

2,561,598 41

29%

Previous Year

Units %y-o-y

2

350%

17

-59%

5

-40%

7

-71%

2

500%

4

-25%

2

-50%

4

-75%

0

0

10

30%

53

0%

India

Vessel Type Bulk Carriers Tankers Gas Tankers General Cargo/MPP Containers Reefers Passenger/Cruise Ro-Ro Car Carrier Combined Special Projects TOTAL

Bangladesh

Vessel Type Bulk Carriers Tankers Gas Tankers General Cargo/MPP Containers Reefers Passenger/Cruise Ro-Ro Car Carrier Combined Special Projects TOTAL

30%

Units 0 4 1 1 5 2 1 0 0 2 0 16

25%

Units 4 0 1 1 6 1 0 0 0 0 0 13

share of total Demo Activity

Previous Month

Dwt

Units %m-o-m

0

1

-100%

430,632

1

300%

8,078

1

0%

4,001

0

174,985

3

67%

16,829

2

0%

8,677

0

0

0

0

0

219,559

0

0

0

862,761

8

100%

share of total Demo Activity

Previous Month

Dwt Units %m-o-m

591,981 6

-33%

0

0

1,206

1

0%

3,953

2

-50%

114,956 5

20%

9,746

0

0

1

-100%

0

1

-100%

0

0

0

0

0

1

-100%

721,842 17

-24%

Previous Year

Units %y-o-y

0

2

100%

2

-50%

2

-50%

0

2

0%

2

-50%

2

-100%

0

0

0

12

33%

Previous Year

Units %y-o-y

0

10 -100%

3

-67%

2

-50%

0

2

-50%

0

0

0

0

0

17 -24%

MONTHLY MARKET REPORT

Page 4

GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH

April 2019

DEMOLITION MARKET

Demo Activity per Demolition Country (Pakistan, China)

Pakistan

Vessel Type Bulk Carriers Tankers Gas Tankers General Cargo/MPP Containers Reefers Passenger/Cruise Ro-Ro Car Carrier Combined Special Projects TOTAL

2%

Units 0 0 0 0 1 0 0 0 0 0 0 1

share of total Demo Activity

Previous Month

Dwt Units %m-o-m

0

0

0

0

0

0

0

0

8,609

0

0

0

0

0

0

0

0

0

0

0

0

0

8,609

0

Previous Year

Units %y-o-y

1 -100%

3 -100%

0

0

0

0

0

0

0

0

1 -100%

5

-80%

China

Vessel Type Bulk Carriers Tankers Gas Tankers General Cargo/MPP Containers Reefers Passenger/Cruise Ro-Ro Car Carrier Combined Special Projects TOTAL

0%

Units 0 0 0 0 0 0 0 0 0 0 0 0

share of total Demo Activity

Previous Month Previous Year

Dwt Units %m-o-m Units %y-o-y

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

1 -100%

0

0

1 -100%

MONTHLY MARKET REPORT

Page 5

GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH

April 2019

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 APRIL 2019

CAPESIZE (120,000-219,999 DWT) - FIXTURES PER VESSEL'S AGE

FIXTURE PERIOD

FIXTURES

3-6

6-12

12-24

24-36

BUILT

VESSEL'S AGE

NO.

MONTHS MONTHS

M0NTHS

M0NTHS

>=2016 N/B

0

0

0

0

0

2011-2015 UP TO 5YRS

2

0

0

2

0

2006-2010 UP TO 10YRS

3

1

1

1

0

2001-2005 UP TO 15YRS

0

0

0

0

0

1996-2000 UP TO 20YRS

0

0

0

0

0

1986-1995 UP TO 30YRS

0

0

0

0

0

TOTAL

5

1

1

3

0

>36 MONTHS

0 0 0 0 0 0 0

BUILT

VESSEL'S AGE

>=2016 N/B

2011-2015 UP TO 5YRS

2006-2010 UP TO 10YRS

2001-2005 UP TO 15YRS

1996-2000 UP TO 20YRS

1986-1995 UP TO 30YRS

TOTAL

POST PANAMAX - FIXTURES PER VESSEL'S AGE FIXTURE PERIOD

FIXTURES

3-6

6-12

12-24

NO.

MONTHS MONTHS

M0NTHS

0

0

0

0

0

0

0

0

1

0

1

0

0

0

0

0

0

0

0

0

0

0

0

0

1

0

1

0

24-36 M0NTHS

0 0 0 0 0 0 0

>36 MONTHS

0 0 0 0 0 0 0

BUILT

VESSEL'S AGE

>=2016 N/B

2011-2015 UP TO 5YRS

2006-2010 UP TO 10YRS

2001-2005 UP TO 15YRS

1996-2000 UP TO 20YRS

1986-1995 UP TO 30YRS

TOTAL

KAMSARMAX - FIXTURES PER VESSEL'S AGE FIXTURE PERIOD

FIXTURES

3-6

6-12

12-24

NO.

MONTHS MONTHS

M0NTHS

2

0

0

2

6

1

4

1

4

1

1

2

0

0

0

0

0

0

0

0

0

0

0

0

12

2

5

5

24-36 M0NTHS

0 0 0 0 0 0 0

>36 MONTHS

0 0 0 0 0 0 0

ULTRAMAX/PANAMAX (60,000-76,999 DWT) - FIXTURES PER VESSEL'S AGE FIXTURE PERIOD

FIXTURES

3-6

6-12

12-24

24-36

BUILT

VESSEL'S AGE

NO.

MONTHS MONTHS

M0NTHS

M0NTHS

>=2016 N/B

0

0

0

0

0

2011-2015 UP TO 5YRS

2

1

1

0

0

2006-2010 UP TO 10YRS

3

2

1

0

0

2001-2005 UP TO 15YRS

1

0

1

0

0

1996-2000 UP TO 20YRS

1

0

1

0

0

1986-1995 UP TO 30YRS

0

0

0

0

0

TOTAL

7

3

4

0

0

>36 MONTHS

0 0 0 0 0 0 0

MONTHLY MARKET REPORT

Page 6

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