October 18 2019 / Week 42 THE VIEW FROM THE BRIDGE

GLENPOINTE CENTRE WEST, FIRST FLOOR, 500 FRANK W. BURR BOULEVARD TEANECK, NJ 07666 (201) 907-0009

July 22nd 2022 / Week 29

THE VIEW FROM THE BRIDGE

Period tanker T/C rates remain firm with Non-Eco and Non-Scrubber fitted tankers obtaining 12 months rates of $27,000/day for MR tankers, $20,250/day for LR 1 tankers, $30,000/day for LR 2 tankers, $26,000/day for Aframaxes , $20,000/day for Suezmaxes, and $19,000/day levels for VLCC's. Fewer modern second hand tankers are being sold, but the older units are very active with prices rising. A nice example of how prices have risen over the past 4-5 months is this week's sale of the M/T "CHALLENGE PHOENIX" (47,786 DWT/Built 2007 at STX in Korea - BWTS fitted) at region $18 mill. compared to the sale of the exact sister ship M/T "CHALLENGE PEGASUS" in March of this year at $12.4 mill. levels.

The dry cargo market charter rates remained firm or slightly softer with fewer bulk carriers being reported sold.

Offers were due last week on two x eco Kamsarmaxes built 2015-2016 at quality yards in Japan plus (from a different Seller) 2 x eco Kamsarmaxes built 2014-2012 in China with the market closely watching to see the price levels that they obtained - but there are reports that the both Sellers did not see attractive enough prices to pull the trigger and the Vessels have not yet been sold.

Prices are holding, even for vintage bulkers, as this week the M/V "ANASTASIA S" (52,800 DWT/Built Onomichi in Japan - DD freshly passed) sold for $16 mill. which compares nicely with the May sale of the comparable M/V "PRABHU LAL" (52,491 DWT/Built 2004 at Tsuneishi in Japan) which also obtained region $16 mill. levels.

Have a good weekend.

Vessel Name

ECO LEADER GODAM / MANDALA /

TIMBERWOLF / THUNDERBOLD SONGA CORAL

BW LARA

SUNNY BAY ATLANTIC SYMPHONY /

ATLANTIC CANYON / ATLANTIC JUPITER /

ATLANTIC SIRIU

DWT

299,999 113,553/ 109,647/ 108,817 107,081

73,495 50,661

36,684

TANKERS

TANKER SALES REPORTED THIS WEEK

Year

Built

Engine Additional Info

Price ($ Mill.)

2016 Daewoo

Man B&W

SS/DD due

$22.0

2006/ 2008/ 2008

2005

2004

Samsung/ Dalian/ Shanghai

Koyo

New Century

Man B&W/ Wartsila/ Man B&W

B&W

Man B&W

Ice Class 1A

BWTS/Scrubber fitted; Coiled

BWTS fitted; Epoxy coated/coiled

$79.5 enbloc $25.0 $13.0

2008 SPP

Man B&W

IMO III;

$17.4

2009 Hyundai

Man B&W

IMO II; Epoxy coated

$68.0 enbloc

Buyer

Greece Greece Undisclosed Greece China

Undisclosed

ASSET CLASS

TANKERS

VLCC SUEZMAX AFRAMAX PANAMAX -

LR1 MR TANKER

COMPASS MARITIME TANKER VALUES

NB CONTRACT

NB PROMPT DELIVERY

5 YEAR

10 YEAR

SIZE (DWT)

(All Numbers in US $ Millions)

300,000

106

100

72

50

160,000

74

70

50

35

115,000

58

60

48

30

70,000

50

45

35

22

51,000

40

40

32

20

20 YEAR

30 15 12 10 8

Name

THERESA SHANDONG LILA TOKYO

DAYANG CONFIDENCE SOHO MANDATE

NEUTRINO SHIN XIN

OREO

JUN DE

ELEFTHERIOS T

DWT

82,000 79,387 63,127 61,436 58,612 56,933 55,430 34,420

33,789

BULK CARRIERS

BULK CARRIERS SALES REPORTED THIS WEEK

Year

Built

Engine

H/H GEAR

Additional Info

2012

Jiangsu

Man B&W 7/7

SS/DD due

Price ($ Mill.)

$22.0

2010 2017 2016 2012 2010

Jiangus Yangzhou

Dalian Kawasaki

Cosco

Man B&W 7/7 Man B&W 5/5 4x35tc Man B&W 5/5 4x30.5tc Man B&W 5/5 4x30.5tc Man B&W 5/5 4x30tc

BWTS fitted

BWTS fitted; ECO

BWTS fitted; SS/DD due

BWTS fitted

$19.3 $30.0 $31.0 $24.25 $16.0

2008 2011 2013

Kawasaki SPP

Samho

Man B&W Man B&W Man B&W

5/5 4x30.5tc BWTS fitted

5/5 4x35tc 5/5 4x30tc

BWTS fitted; incl t/c @ USD

23k/day

BWTS/Scrubber fitted; incl t/c @

USD 26k/day

$19.35 $17.0 $20.0

Buyer

Greece Undisclosed Undisclosed

China Undisclosed Undisclosed

Greece China

Greece

COMPASS MARITIME BULK CARRIER VALUES

ASSET CLASS

NB CONTRACT

NB PROMPT DELIVERY

5 YEAR

BULK

SIZE (DWT)

(All Numbers in US $ Millions)

CAPE

180,000

60

60

50

KAMSARMAX

82,000

40

42

35

SUPRAMAX

56,000

36

34

30

HANDY

38,000

30

30

27

10 YEAR

34 25 23 19

20 YEAR

17 15 12 10

NEWBUILDINGS

NEWBUILDING ACTIVITY REPORTED THIS WEEK

No.

Size

Type

Yard

Delivery Price (mill) Comments

Owners

NEWBUILDING STATISTICS - TANKERS

ASSET CLASS

VLCC (200k+ dwt)

SUEZMAX (125k-199k dwt)

AFRAMAX (85k-125k dwt)

PANAMAX (55k-85k dwt)

HANDY TANKER (10k-55k dwt)

2022 2023 2024 TOTAL

23 20

0

43

16 9

2

27

24 45 12 81

6

2

0

8

74 74 22 170

NEWBUILDING STATISTICS - BULKERS

ASSET CLASS

CAPESIZE (100k+ dwt)

PAN/KAM (70k-99k dwt)

SUPRAMAX (40k-69k dwt)

HANDYSIZE (10k ? 39k dwt)

2022 2023 2024 TOTAL 27 56 28 111 75 127 61 263 69 112 94 275 55 98 45 198

CHARTERING MARKET SNAPSHOT

TANKERS BALTIC EXCHANGE TANKER FREIGHT INDICES

BULKERS BALTIC EXCHANGE BULKER FREIGHT INDICES

BDTI BCTI

CURRENT WEEK

LAST WEEK 1369 1382

LAST YEAR 593 457

TANKER 12 MONTHS T/C RATES

DWT

CURRENT WEEK

LAST WEEK

VLCC Suezmax

300,000 150,000

19,000 20,000

18,000 20,000

Aframax LR1 MR

110,000 80,000 47,000

26,000 20,250 27,000

22,500 20,250 21,000

CURRENT WEEK

LAST WEEK

LAST YEAR

BDI

2146

2150

3199

BCI

2696

2919

3915

BPI

2093

1885

3528

BSI

2080

2039

2871

BULKER 12 MONTHS T/C RATES

CAPE

DWT

180,000

CURRENT WEEK 21,000

LAST WEEK 21,500

PANAMAX SUPRAMAX

75,000 52,000

19,000 18,000

18,000 20,000

NAME No sales to report

NAME No sales to report

NAME MT Rowan

NAME MV Okra

RECYCLING ACTIVITY REPORTED THIS WEEK Pakistan

DWT

YEAR LDT

ADDITIONAL INFORMATION

DWT

YEAR

India

LDT

ADDITIONAL INFORMATION

PRICE/ LDT (USD)

PRICE/LDT

DWT 299,988

YEAR 2001

Bangladesh

LDT

ADDITIONAL INFORMATION

44,380

PRICE/ LDT $595

DWT 171,199

YEAR 1999

Misc.

LDT

ADDITIONAL INFORMATION

21,018

As is S Korea includes 500 tons bunkers HKC required

PRICE/ LDT $530 net

ASSET CLASS ULCC/VLCC SUEZMAX AFRAMAX PANAMAX TANKER CAPE/COMBO (80K DWT +) PANAMAX BULKER POST PANAMAX BULKER

RECYCLING STATISTICS

THIS DATE 2022 5 9

THIS DATE 2021 11 3

15

20

4

2

11

12

0

8

1

0

BALTIC SHIP RECYCLING PRICES (US $ / LDT)

2021 TOTAL 19 16 40 11 14 11 1

2020 TOTAL 3 3 10 5 54 13 3

LOCATION

BANGLADESH INDIA PAKISTAN

TANKERS 30,000 LDT & above

598.75 575.42

575.83

TANKERS 15-30,000 LDT

599.83 577.50

577.50

TANKERS 7-15,000 LDT

600.83 578.33

577.92

BULK CARRIERS 20,000 LDT & above

590.75 570.75

570.33

BULK CARRIERS 9-20,000 LDT 592.08 571.25

570.00

BULK CARRIERS 5-9,000 LDT

594.50 573.67 572.42

LOCATION INDIA BANGLADESH

UPCOMING BEACHING TIDES

July 26, 2022 ? August 3, 2022 July 29, 2022 ? August 1, 2022

August 8, 2022 - August 17, 2022 August 11, 2022 - August 14, 2022

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