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 May 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:

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@

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snp@

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GOLDEN DESTINY PIRAEUS: 57 AKTI MIAOULI 18536 TEL: +30 210 4295000 FAX: +30 210 4292346

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

May 2019

SECONDHAND MARKET - Overview of S&P Activity

Top Ranking of Buyers

No. of Vessels Changed Hands

May-19 122

Previous Month m-o-m

145

-16%

May-18 135

y-o-y -10%

Average Age of Vessels Sold (in Total):

12 yrs old built 2007

S&P deals reported at an undisclosed sale price:

21

Bulkers

-29% m-o-m

-39% y-o-y

Average Age of Vessels Sold:

11 yrs old built 2008

S&P deals reported at an undisclosed sale price:

1

Tankers

-33% m-o-m

-8% y-o-y

Average Age of Vessels Sold:

13 yrs old built 2006

S&P deals reported at an undisclosed sale price:

4

Containers

-27% m-o-m

10% y-o-y

Average Age of Vessels Sold:

13 yrs old built 2006

S&P deals reported at an undisclosed sale price:

3

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

Bulkers

No. of S&P deals Average Dwt Average Built

VLOC

-

-

-

Newcastlemax

2

2,011

2011

Capesize

3

174,591

2004

Post Panamax

1

91,439

2002

Kamsarmax

-

-

-

Panamax

8

76,004

2004

Ultramax

2

62,198

2015

Supramax

17

55,691

2010

Handymax

1

46,960

1997

Handysize

4

35,930

2012

Handy

5

24,810

2002

Small

1

7,229

2011

Tankers

No. of S&P deals Average Dwt Average Built

VLCC

2

314,052

2014

Suezmax

2

154,342

2010

Aframax

4

103,531

2006

Panamax

2

72,203

2002

MR/Handymax

15

45,134

2006

Handy Small

8

18,562

2002

2

6,353

2011

Containers ULCV Neopanamax Post-Panamax Panamax Feedermax Feeder Small feeder

No. of S&P deals Average Dwt Average Built

-

-

-

-

-

-

-

-

-

3

93,648

2004

7

52,002

2006

1

13,766

2007

-

-

-

MONTHLY MARKET REPORT

Total Invested Capital: 1,908,950,000 Average Dwt Sold: 53,757

Total Invested Capital: 494,700,000 Units: 44

Average Dwt Sold: 69,524 Total Invested Capital: 467,250,000

Units: 35 Average Dwt Sold: 66,672 Total Invested Capital: 89,300,000

Units: 11 Average Dwt Sold: 59,884

Page 1

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

SECONDHAND MARKET

May 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

44 3,059,045

Tankers

35 2,333,528

Gas Tankers

5 268,090

General Cargo/MPP 4 39,583

Containers

11 658,725

Reefers

0

0

Passenger/Cruise

2

2,603

Ro-Ro

3 29,609

Car Carrier

0

0

Combined

0

0

Special Projects

18 113,447

TOTAL

122 6,504,630

($) Invested 494,700,000 467,250,000 472,500,000 5,900,000 89,300,000

0 0 0 0 0 379,300,000 1,908,950,000

Previous Month Previous Year

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

1

0

62 -29% 72 -39%

4

1

52 -33%

38

-8%

0

0

5

0%

1

400%

2

0

3

33%

2

100%

3

0

15 -27%

10

10%

0

0

0

0

2

0

3

-33%

2

0%

1

0

0

0

0

0

0

0

0

0

0

0

8

0

5

260% 10

80%

21

1

145 -16% 135 -10%

GREEK PRESENCE

26% share to the total S&P Activity

Vessel Purchases (Secondhand Market)

Vessel Type

Units

Bulk Carriers

18

Tankers

7

Gas Tankers

2

General Cargo/MPP 0

Containers

3

Reefers

0

Passenger/Cruise 0

Ro-Ro

1

Car Carrier

0

Combined

0

Special Projects

1

TOTAL

32

Dwt ($) Invested

1,277,206

263,000,000

800,179

165,600,000

46,833

32,000,000

0

0

280,943

49,500,000

0

0

0

0

4,650

0

0

0

0

0

2,298

700,000

2,412,109

510,800,000

Previous Month Previous Year

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

0

0

8

125% 20 -10%

0

1

8

-13%

11 -36%

0

0

0

0

0

0

0

0

0

0

2

50%

5

-40%

0

0

0

0

0

0

1

-100%

0

1

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

1

1

19

68%

36 -11%

CHINESE PRESENCE

7% share to the total S&P Activity

Vessel Purchases (Secondhand Market)

Vessel Type

Units

Bulk Carriers

6

Tankers

1

Gas Tankers

0

General Cargo/MPP 1

Containers

0

Reefers

0

Passenger/Cruise 0

Ro-Ro

0

Car Carrier

0

Combined

0

Special Projects

1

TOTAL

9

Dwt 482,693 16,225

0 12,500

0 0 0 0 0 0 936 512,354

($) Invested 47,400,000 6,000,000 0 4,000,000 0 0 0 0 0 0 250,000 57,650,000

Previous Month Previous Year

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

0

0

20 -70% 17 -65%

0

0

5

-80%

3

-67%

0

0

1 -100% 0

0

0

0

1

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

26 -65% 21 -57%

MONTHLY MARKET REPORT

Page 2

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

May 2019

No. of Vessel Demolitions

DEMOLITION MARKET - Overview of Demo Activity

Top Ranking of Demo Countries

Apr-19 54

Previous Month 52

m-o-m 4%

Apr-18 50

y-o-y 8%

Average Age of Vessels Scrapped:

28 yrs old built 1991

Bulkers

-22% m-o-m

-13% y-o-y

Average Age of Vessels Scrapped:

27 yrs old built 1992

Tankers

33% m-o-m

-56% y-o-y

Average Age of Vessels Scrapped:

23 yrs old built 1996

Containers -42% m-o-m

600% y-o-y

Average Age of Vessels Scrapped:

29 yrs old built 1990

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

Bulkers

No. of Demolitions Average Dwt Average Built

VLOC

-

-

-

Newcastlemax

-

-

-

Capesize

2

172,118

2001

Post Panamax

-

-

-

Panamax

1

71,741

1995

Handymax

1

48,203

1999

Handysize

1

30,052

1987

Handy

-

-

-

Small

2

6,481

1980

Tankers

No. of Demolitions Average Dwt Average Built

VLCC

2

293,702

2000

Suezmax

1

151,294

2001

Aframax

-

-

-

Panamax

-

-

-

MR/Handymax

3

42,811

1996

Handy

-

-

-

Small

2

4,498

1989

Containers No. of Demolitions Average Dwt Average Built

ULCV

-

Neopanamax

-

Post-Panamax

-

-

-

-

-

-

-

Panamax

-

-

-

Feedermax

2

32,273

2000

Feeder

3

Small feeder

2

24,439

1989

9,457

1981

MONTHLY MARKET REPORT

Total Deadweight: 1,745,183 Average Dwt : 32,318

Total Deadweight: 507,192 Units: 7

Average Dwt : 72,456 Total Deadweight: 876,127

Units: 8 Average Dwt : 109,516 Total Deadweight: 156,776

Units: 7 Average Dwt : 22,397

Page 3

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

May 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

7

507,192

9

-22%

Tankers

8

876,127

6

33%

Gas Tankers

0

0

3

-100%

General Cargo/MPP

10

103,182

2

400%

Containers

7

156,776

12

-42%

Reefers

2

16,918

3

-33%

Passenger/Cruise

1

4,514

1

0%

Ro-Ro

3

38,832

1

200%

Car Carrier

0

0

0

Combined

0

0

2

-100%

Special Projects

16

41,642

13

23%

TOTAL

54

1,745,183 52

4%

Previous Year

Units %y-o-y

8

-13%

18

-56%

9

-100%

6

67%

1

600%

2

0%

0

2

50%

0

0

4

300%

50

8%

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

20%

Units 1 1 0 1 3 0 1 1 0 0 3 11

31%

Units 4 4 0 4 1 2 0 1 0 0 1 17

share of total Demo Activity

Previous Month

Dwt

Units %m-o-m

8,446

0

151,294

4

-75%

0

1

-100%

23,000

1

0%

82,477

5

-40%

0

2

-100%

4,514

1

0%

14,366

0

0

0

0

2

-100%

6,586

0

290,683

16

-31%

share of total Demo Activity

Previous Month

Dwt Units %m-o-m

279,352 4

0%

326,113 0

0

1

-100%

21,599

1

300%

5,720

6

-83%

16,918

1

100%

0

0

11,889

0

0

0

0

0

10,450

0

672,041 13

31%

Previous Year

Units %y-o-y

1

0%

3

-67%

3

-100%

2

-50%

0

2

-100%

0

0

0

0

2

50%

13

-15%

Previous Year

Units %y-o-y

1

300%

2

100%

0

1

300%

0

0

0

0

0

0

0

4

325%

MONTHLY MARKET REPORT

Page 4

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

May 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 0 0 0 0 0 0 1 1

share of total Demo Activity

Previous Month

Dwt Units %m-o-m

0

0

0

0

0

0

0

0

0

1 -100%

0

0

0

0

0

0

0

0

0

0

1,263

0

1,263

1

0%

Previous Year Units %y-o-y

3 -100% 5 -100% 0 1 -100% 0 0 0 1 -100% 0 0 0 10 -90%

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

0

0

0

0

MONTHLY MARKET REPORT

Page 5

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

May 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

0

0

0

0

0

2006-2010 UP TO 10YRS

1

0

0

1

0

2001-2005 UP TO 15YRS

1

0

0

1

0

1996-2000 UP TO 20YRS

0

0

0

0

0

1986-1995 UP TO 30YRS

0

0

0

0

0

TOTAL

2

0

0

2

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

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

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

0

0

0

0

4

3

0

1

3

2

1

0

3

2

0

1

0

0

0

0

0

0

0

0

10

7

1

2

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

1

1

0

0

0

2006-2010 UP TO 10YRS

1

1

0

0

0

2001-2005 UP TO 15YRS

3

2

1

0

0

1996-2000 UP TO 20YRS

0

0

0

0

0

1986-1995 UP TO 30YRS

0

0

0

0

0

TOTAL

5

4

1

0

0

>36 MONTHS

0 0 0 0 0 0 0

MONTHLY MARKET REPORT

Page 6

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