ATHENIAN SHIPBROKERS S.A. -...

18
ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula , Athens, Greece Tel: 210 9659700 - Fax: 210 8996040 Internet Mail: [email protected] www.atheniansa.gr September 2013 MONTHLY REPORT 0 2000 4000 6000 8000 10000 12000 Sep-03 Jan-04 May-04 Sep-04 Jan-05 May-05 Sep-05 Jan-06 May-06 Sep-06 Jan-07 May-07 Sep-07 Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Baltic Dry Index PRICES TANKERS ($ MIO) * Prices reflect Year’s End 2008* 2009* 2010* 2011* 2012* Sep-13 VLCC 5Y 155.8 78.0 87.8 55.6 56.0 55.5 VLCC 10Y 131.0 59.5 64.3 34.1 35.0 34.2 SUEZMAX 5Y 106.0 57.0 62.8 45.6 40.2 39.0 AFRAMAX 5Y 76.8 40.5 44.5 34.7 28.0 28.2 AFRAMAX10Y 64.7 23.5 30.7 19.3 16.3 19.0 PANAMAX5Y 61.0 35.5 39.0 30.9 24.3 26.8 45K 5Y D/H 52.7 23.5 27.3 25.8 23.0 25.6 45K 10Y D/H 43.2 16.0 19.7 15.8 15.5 17.4 45K 20Y 10.0 4.0 6.7 6.0 6.2 6.3 PRICES BULKERS ($ MIO) * Prices reflect Year’s End 2008* 2009* 2010* 2011* 2012* Sep-13 CAPESIZE 5Y 45.5 54.5 57.0 36.3 32.0 34.4 CAPESIZE 10Y 30.0 45.0 43.0 26.8 20.5 23.5 CAPESIZE 15Y 21.0 28.0 26.0 15.2 12.7 14.7 CAPESIZE 20Y 15.2 16.5 16.4 10.5 9.3 8.5 PANAMAX 5Y 25.5 35.0 38.5 26.4 18.0 21.4 PANAMAX 10Y 19.0 27.5 31.6 18.6 12.5 15.0 PANAMAX 15Y 12.5 22.0 23.1 12.4 8.3 8.8 PANAMAX 20Y 9.2 12.0 13.8 8.1 5.4 5.4 SUPRAMAX 5Y 24.0 27.5 31.9 26.4 23.3 21.3 HANDYMAX10Y 18.2 22.0 24.7 18.0 13.0 15.0 HANDYMAX15Y 13.0 17.5 20.0 11.1 8.7 8.9 HANDYMAX20Y 7.4 11.0 12.0 7.9 6.3 6.2

Transcript of ATHENIAN SHIPBROKERS S.A. -...

Page 1: ATHENIAN SHIPBROKERS S.A. - drg.blob.core.windows.netdrg.blob.core.windows.net/hellenicshippingnewsbody/... · STX FRONTIER 86778 2010 S.KOREA 153000 160 MIO GREEK 968010000 4903

ATHENIAN SHIPBROKERS S.A.

107-109, Vas. Pavlou Str., GR 166 73, Voula , Athens, Greece Tel: 210 9659700 - Fax: 210 8996040

Internet Mail: [email protected] www.atheniansa.gr

September 2013

M O N T H L Y R E P O R T

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Baltic Dry Index

PRICES TANKERS ($ MIO)

* Prices reflect Year’s End 2008* 2009* 2010* 2011* 2012* Sep-13

VLCC 5Y 155.8 78.0 87.8 55.6 56.0 55.5

VLCC 10Y 131.0 59.5 64.3 34.1 35.0 34.2

SUEZMAX 5Y 106.0 57.0 62.8 45.6 40.2 39.0

AFRAMAX 5Y 76.8 40.5 44.5 34.7 28.0 28.2

AFRAMAX10Y 64.7 23.5 30.7 19.3 16.3 19.0

PANAMAX5Y 61.0 35.5 39.0 30.9 24.3 26.8

45K 5Y D/H 52.7 23.5 27.3 25.8 23.0 25.6

45K 10Y D/H 43.2 16.0 19.7 15.8 15.5 17.4

45K 20Y 10.0 4.0 6.7 6.0 6.2 6.3

PRICES BULKERS ($ MIO)

* Prices reflect Year’s End 2008* 2009* 2010* 2011* 2012* Sep-13

CAPESIZE 5Y 45.5 54.5 57.0 36.3 32.0 34.4

CAPESIZE 10Y 30.0 45.0 43.0 26.8 20.5 23.5

CAPESIZE 15Y 21.0 28.0 26.0 15.2 12.7 14.7

CAPESIZE 20Y 15.2 16.5 16.4 10.5 9.3 8.5

PANAMAX 5Y 25.5 35.0 38.5 26.4 18.0 21.4

PANAMAX 10Y 19.0 27.5 31.6 18.6 12.5 15.0

PANAMAX 15Y 12.5 22.0 23.1 12.4 8.3 8.8

PANAMAX 20Y 9.2 12.0 13.8 8.1 5.4 5.4

SUPRAMAX 5Y 24.0 27.5 31.9 26.4 23.3 21.3

HANDYMAX10Y 18.2 22.0 24.7 18.0 13.0 15.0

HANDYMAX15Y 13.0 17.5 20.0 11.1 8.7 8.9

HANDYMAX20Y 7.4 11.0 12.0 7.9 6.3 6.2

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2

S E C O N D H A N D S A L E S & C H A R T E R F I X T U R E T R E N D S

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Monthly Tanker Market Trend

VLCC 5Y VLCC 10Y SMAX 5Y AMAX 5Y

AMAX 10Y PMAX 5Y 45K 5Y D/H 45K 10Y D/H

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PMAX 1 Yr T/C MR 1 Yr T/C

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PMAX 10Y PMAX 15Y SUPRA 5Y HMAX 5Y

HMAX 10Y HMAX 15Y

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CAPE 1 Yr T/C PMAX 1 Yr T/C

SUPRA 1 Yr T/C HMAX 1 Yr T/C

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S E C O N D H A N D T O N N A G E M A R K E T

*Excluding demolition sales

Sale and Purchase Market - Second Hand units

Ship Type Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Total

BULK 33 42 26 43 42 29 215 TANK 34 40 22 27 22 35 180 GAS 5 2 7 5 0 6 25 CONT 11 12 11 18 14 8 74 TWEEN 1 4 0 0 0 0 5 REEF 0 0 0 0 0 0 0 RORO 1 0 0 1 0 0 2 FERRY 1 0 0 0 0 2 3 CRUISE 0 0 0 0 0 0 0

Total 86 100 66 94 78 80 504

349

29

338

42

0

100

200

300

400

THIS MONTH - PREVIOUS MONTH

S&P Activity Dry (<5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

235

35

182

22

0

100

200

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THIS MONTH - PREVIOUS MONTH

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AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

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TANKER SALES

NAME DWT BLT PRICE $ BUYER

EMMA COSULICH 6876 2007 CHINA DH 6.5 MIO UNDISCLOSED SAAG SIRIUS 7058 2009 CHINA DH 8 MIO UNDISCLOSED COSMIC 18 9273 1996 JAPAN DH 4 MIO UAE BASED STAR DREAM 11667 2001 JAPAN DH 10 MIO UNDISCLOSED DAWN 11668 1995 JAPAN DH 5.6 MIO UAE BASED STAR BALBOA 13050 1999 GERMANY DH 8.5 MIO GREEK

NORTHERN WOLVERINE 16000 2006 ROMANIA DH * ENBLOC BSS▼ NORTHERN LYNX 16533 2003 ROMANIA DH 24.8 MIO UNDISCLOSED (Total price)

BRO AXEL 16839 1998 INDONESIA DH 6.2 MIO UNDISCLOSED KOLKA 37211 2003 S.KOREA DH 13.3 MIO GREEK TWINKLE EXPRESS 45750 2006 JAPAN DH 20 MIO GREEK CHAMPION STAR 45999 1991 SPAIN DH 6 MIO UNDISCLOSED EAGLE GULF 45999 1995 S.KOREA DH 9.25 MIO INDONESIAN EAGLE BAY 47084 1991 S.KOREA DH 6 MIO MIDDLE EASTERN YASA CEYHAN 50162 2009 S.KOREA DH 29 MIO RIDGEBURY TANKERS YASA SEYHAN 50162 2009 S.KOREA DH 29 MIO RIDGEBURY TANKERS YASA BODRUM 50261 2009 S.KOREA DH 29 MIO RIDGEBURY TANKERS

SPP SACHEON S5122 50300 2013 S.KOREA DH * ENBLOC BSS▼ SPP SACHEON S5123 50300 2014 S.KOREA DH * ENBLOC BSS▼ SPP SACHEON S5124 50300 2014 S.KOREA DH * ENBLOC BSS▼ SPP SACHEON S5125 50300 2014 S.KOREA DH 151 MIO SCORPIO TANKERS (Total Price)

ENERGY POWER 51383 2005 S.KOREA DH 21 MIO INDIAN FOUR BAY 94225 1995 ITALY DH 7.9 MIO UNDISCLOSED STAVANGER BELL 105309 2010 JAPAN DH 32 MIO GREEK KWK ESTEEM 105342 2000 S.KOREA DH 11.45 MIO SINOKOR, KOREA HELLESPONT TATINA 105535 1999 JAPAN DH 9.5 MIO UNDISCLOSED

618

767

706

556 533 500

550

600

650

700

750

800

40 43 46 49 52 3 6 9 12 15 18 21 24 27 30 33 36 39

WEEK NO

Baltic Clean Tanker - Yearly

2013 2012

665

772

632

696

579

500

550

600

650

700

750

800

40 43 46 49 52 3 6 9 12 15 18 21 24 27 30 33 36 39

WEEK NO

Baltic Dirty Tanker - Yearly

2013 2012

580

561

529

480

500

520

540

560

580

600

620

02/09/2013 09/09/2013 16/09/2013 23/09/2013

Baltic Clean Tanker - Monthly

604

583 580

588

550

560

570

580

590

600

610

620

630

02/09/2013 09/09/2013 16/09/2013 23/09/2013

Baltic Dirty Tanker - Monthly

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STAVANGER BAY 105744 2004 JAPAN DH 19.5 MIO GREEK SEASERVICE 107160 1998 JAPAN DH 9.5 MIO UNDISCLOSED FORWARD FORTUNE 115567 2005 JAPAN DH 20.5 MIO TANKER PACIFIC

ALMI MARINER 157430 2013 S.KOREA DH 55 MIO OSAS, NIGERIA (Purchase option may

have been executed) ALMI GALAXY 157786 2012 S.KOREA DH 52 MIO UNDISCLOSED ALMI GLOBE 157787 2012 S.KOREA DH 52 MIO UNDISCLOSED TAKASAGO MARU 281050 1999 JAPAN DH 21 MIO UNDISCLOSED

COSGOLD LAKE 297163 2011 CHINA DH * ENBLOC BSS▼ COSGLAD LAKE 297388 2011 CHINA DH 110 MIO GREEK (Total price)

GAS SALES

NAME DWT BLT CBM PRICE $ BUYER

CHELTENHAM 4318 1990 JAPAN 3144 11.3 MIO SINAM, KOREA NORGAS CARINE 9422 1989 GERMANY 8238 11.5 MIO DUBAI BASED

NAVIGATOR GRACE 16687 2010 S.KOREA 22601 * ENBLOC BSS▼ NAVIGATOR GUSTO 16687 2011 S.KOREA 22149 110 MIO UNDISCLOSED (Total price)

RED RUM 49255 1993 JAPAN 75358 28 MIO CHINESE STX FRONTIER 86778 2010 S.KOREA 153000 160 MIO GREEK

9680

4903

10450

0

10000

20000

30000

40000

50000

Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13

$/D

ay

Spot Market - Tankers VLCC

SUEZMAX

AFRAMAX

17900

16000

13000

5000

10000

15000

20000

25000

Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13

$/D

ay

Period Market - Tankers 1 Year T/C

VLCC

SUEZMAX

AFRAMAX

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6

BULKER SALES

NAME DWT BLT GEAR PRICE $ BUYER

SAVA OCEAN 3024 1993 YUGOSLAVIA GLESS 0.6 MIO UNDISCLOSED X-PRESS MONTE BIANCO

9146 2005 ROMANIA GLESS 2.5 MIO SINGAPORE BASED

ORIENTE NOBLE 23522 1996 JAPAN CR 4X30 5.8 MIO UNDISCLOSED GLOBAL NEXTAGE 24830 1996 JAPAN CR 4X30 5.6 MIO CHINESE NEUMETAL VENTURE 27786 1998 JAPAN CR 4X30 7.8 MIO GREEK BASED HIBERNIA 28107 2001 CHINA CR 4X30 6.8 MIO GREEK BASED ID HARBOUR 28760 1995 JAPAN CR 4X30 7 MIO UNDISCLOSED

ROYAL 29152 1985 JAPAN CR 2X30, CR

1X25 1.5 MIO UAE

STX AZALEA 29263 2010 CHINA CR 4X30 * ENBLOC BSS▼ STX NOBLE 180716 2010 S.KOREA GLESS 53 MIO UNDISCLOSED (Total Price)

PACIFIC FUTURE 29517 1998 CHINA CR 3X30 4.5 MIO MIDDLE EASTERN (Via Auction)

CAPE DENISON 30396 2002 CHINA CR 2X100, CR

2X50 8.8 MIO GERMAN

GISBORNE 33671 2010 CHINA CR 4X35 19.1 MIO GREEK OMIROS 42183 1987 JAPAN CR 5X25 3.8 MIO UNDISCLOSED

LOS VILOS 46541 2000 JAPAN CR 4X30 12.6 MIO BRAVE OCEAN, BANGLADESH

GOLDEN ELPIS 46645 1997 JAPAN CR 4X30 8.5 MIO UNDISCLOSED PACIFIC ETERNITY 46683 2004 JAPAN CR 4X30 15.8 MIO GREEK NAMRUN 55000 2007 CHINA CR 4X30 20.7 MIO GREEK JIANGSU HANTONG HT57-126

57000 2013 CHINA CR 4X35 23 MIO GREEK

534

558

594

510

530

550

570

590

610

02/09/2013 09/09/2013 16/09/2013 23/09/2013

Baltic Handysize

2

965

934

1069

840

890

940

990

1040

1090

02/09/2013 09/09/2013 16/09/2013 23/09/2013

Baltic Supramax

2

933

1306 1509

1794

0

500

1000

1500

2000

02/09/2013 09/09/2013 16/09/2013 23/09/2013

Baltic Panamax

4

2445

3431

3480

4329

1600

2100

2600

3100

3600

4100

4600

02/09/2013 09/09/2013 16/09/2013 23/09/2013

Baltic Capesize

4 38

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YANGZHOU DAYANG DY 4028

63301 2013 CHINA CR 4X35 26 MIO GREEK

YANGZHOU DAYANG DY 4030

63500 2014 CHINA CR 4X35 26.8 MIO GERMAN

DANANN ISLAND 75637 2006 JAPAN GLESS 18.75 MIO GREEK BELGRANO 76759 2004 JAPAN GLESS 16.5 MIO UNDISCLOSED NEW CENTURY 0108206

81500 2013 CHINA GLESS 24.5 MIO UNDISCLOSED (Bss ppt dely)

NEW CENTURY 0108207

81500 2013 CHINA GLESS 24.5 MIO UNDISCLOSED (Bss ppt dely)

STEFANIA LEMBO 82117 2010 JAPAN GLESS 22.7 MIO GREEK (Via Auction) OCEAN LORD 82977 2005 JAPAN GLESS 18 MIO UNDISCLOSED CHRISMIR 159829 1997 S.KOREA GLESS 13.5 MIO GREEK (Bss waive inspection) TAI FU STAR 178633 1998 S.KOREA GLESS 16.5 MIO VISTA SHIPPING, UKRAINE

39900

8750

8150

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13

$/D

ay

Spot Market - Bulkers CAPESIZE

PANAMAX

HANDYMAX

23600

12050

8900

5000

7000

9000

11000

13000

15000

17000

19000

21000

23000

25000

Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13

$/D

ay

Period Market - Bulkers 1 Year T/C CAPE

PMAX

HANDYMAX

44

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8

CONTAINER SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

ASIAN CARRIER 5565 2003 CHINA CR 2X40 511 4.9 MIO UNDISCLOSED (Via

Auction) MAERSK VIGO 22200 2002 GERMANY CR 3X45 1678 * ENBLOC BSS▼ MAERSK VALLETTA 22300 2002 GERMANY CR 3X45 1678 * ENBLOC BSS▼ MAERSK VANCOUVER

22308 2001 GERMANY CR 3X45 1678 * ENBLOC BSS▼

MAERSK VENICE 22308 2002 GEMANY CR 3X45 1678 50 MIO UNDISCLOSED

DOROTHEA RICKMERS

23027 1998 POLAND CR 3X40 1730 5.2 MIO UNDISCLOSED

RORO SALES

NAME GT BLT LANE MTS/CARS PAX PRICE $ BUYER

FORDEFJORD 787 1970 NORWAY 32 380 0.5 MIO UK BASED OLE JAKOB 313 1973 NORWAY 245 0.3 MIO NORWEGIAN

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N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C T S

Dry Bulk Orderbook

Ship Type 2013 (deliv) 2013 2014 2015 2016 2017 2018+ Total

VLOC 21 4 17 8 2 0 0 31

Capesize 57 41 70 66 14 0 0 191

Small Cape 30 19 25 12 4 0 0 60

Panamax 151 103 178 72 11 0 0 364

Supramax 168 112 181 108 22 0 0 423

Handys 141 79 163 97 20 0 0 359

Total 568 358 634 363 73 0 0 1428

Tanker Orderbook

Ship Type 2013 (deliv) 2013 2014 2015 2016 2017 2018+ Total

ULCC/VLCC 26 12 34 17 5 0 0 68

Suezmax 25 10 23 15 4 0 0 52

Aframax 17 5 34 37 2 0 0 78

Panamax 8 6 9 8 3 0 0 26

MR 67 24 98 112 28 2 0 264

Handy 3 4 19 5 0 0 0 28

Total 146 61 217 194 42 2 0 516

LPG Tank Orderbook

Ship Type 2013 (deliv) 2013 2014 2015 2016 2016+ Total

VLGC 9 3 11 20 2 0 36

LGC 0 0 0 2 0 0 2

MR 2 4 6 7 4 0 21

Handy 4 7 14 8 1 0 30

Small 22 13 19 10 0 0 42

Total 37 27 50 47 7 0 131

88.9

55.8 48.6

33.8

20

40

60

80

100

120

Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13

$m

Tanker Prices VLCC Suezmax

Aframax MR

1

5

3

49.7

26.5

24.8

21.5

10

15

20

25

30

35

40

45

50

55

Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13

$m

Bulker Prices Capesize Panamax

Handymax Handysize

5

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10

163 169

126

440

260

450

225

70

158

0

100

200

300

400

500

2011 2012 Sep-13

No

. o

f V

es

se

ls

Newbuilding Sales Tankers >10,000 dwt

Bulkers >10,000 dwt

Containerships

48.1 45

33.5

14.6

22

13.8

0

10

20

30

40

50

60

Sep-13 2014 2015+

m. d

wt

Delivery Schedule Bulkers >10,000 dwt.

Tankers >10,000 dwt

17.6

8.5 9.1

2

12.3

0

2

4

6

8

10

12

14

16

18

20

September 2013

m.

dw

t

Tanker Newbuildings on Order VLCC Suezmax

Aframax Panamax

Products

48.8

36.2 29.3

12.2

0

10

20

30

40

50

60

September 2013

m. d

wt

Bulker Newbuildings on Order Capesize Panamax

Handymax Handysize

Newbuilding Historical Prices ($m)

Tankers Sep-13 2012 2011 2010 2009 2008 2007 2006 2005 2000 1995 1990 1985

310,000 DWT1 88.9 93.2 98.9 104.8 97.5 150 145 130 120 76.5 85.3 87.4 2 38.2

170,000 DWT1 55.8 57.1 60.3 66.3 61 90 90 80 71.5 52.5 54 66.1 2 28.2

110,000 DWT1 48.6 48.5 52.2 56 49.5 74 72 65.5 58 41.5 43.3 53.2 2 18.1

47,000 DWT1 33.8 33.8 35.2 36.1 35 46.5 52 47 43 29.5 33.2 3 32.1

3 13.3

Bulkers

180,000 DWT1 49.7 45.7 48.4 57.2 55.5 87 96 67 58.5 40.5 42.3 60.2 29.3

73,000 DWT1 26.5 25.6 28.7 34.3 34.5 45.5 54 39.5 36 22.5 27.9 30 13.4

45,000 DWT 24.8 23.7 26.7 31.1 29 41 47.5 37 31 20.5 24.1 25.3 12.4

29,000 DWT 21.5 20.5 22.2 26.3 24.5 31 34 27.5 25.5 15 19.2 21.3 9.7

1 Before 2001 sizes to read 280,000 - 140,000 - 95,000 - 40,0000 respectively for tankers and 150,000 - 69,000 for Bulkers 2 Single Hull 3 30,000 DWT

(note: above is for vessels built Japan / Korea, you should also consider US$ / Yen / Won relation for the years mentioned)

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11

The Shipbuilding Market TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES

BULK 64000 Chengxi Shipyard 2015 Parakou Shpg

BULK 64000 Chengxi Shipyard 2016 Parakou Shpg

BULK 64000 Chengxi Shipyard 2016 Parakou Shpg

BULK 64000 Chengxi Shipyard 2016 Parakou Shpg

BULK 120000 Shanhaiguan S.Y. 2015 37 Mio Elcano

BULK 120000 Shanhaiguan S.Y. 2015 37 Mio Elcano

Chem & Oil 3500 Chongqing Donggang 2015 New Jinhang Shp

Chem & Oil 3500 Chongqing Donggang 2015 New Jinhang Shp

Chem & Oil 3500 Chongqing Donggang 2015 New Jinhang Shp

Chem & Oil 3500 Chongqing Donggang 2015 New Jinhang Shp

Chem & Oil 3500 Chongqing Donggang 2015 New Jinhang Shp

Chem & Oil 19900 Shitanoe Zosen 2016 Stream Tankers AS

Chem & Oil 19900 Fukuoka S.B. 2015 Stream Tankers AS

Chem & Oil 19900 Shitanoe Zosen 2015 Stream Tankers AS

Chem & Oil 7500 Armada Shipyard 2015 Palmali Tankers

Chem & Oil 7500 Armada Shipyard 2015 Palmali Tankers

Chem & Oil 7500 Armada Shipyard 2015 Palmali Tankers

Chem & Oil 19900 Fukuoka S.B. 2016 Stream Tankers AS

CONT 196000 Hyundai H.I. 2014 United Arab Shpg

CONT 196000 Hyundai H.I. 2015 United Arab Shpg

CONT 196000 Hyundai H.I. 2015 United Arab Shpg

CONT 196000 Hyundai H.I. 2015 United Arab Shpg

CONT 196000 Hyundai H.I. 2015 United Arab Shpg

CONT 140000 Hyundai H.I. 2015 United Arab Shpg

CONT 140000 Hyundai H.I. 2015 United Arab Shpg

CONT 140000 Hyundai H.I. 2015 United Arab Shpg

CONT 140000 Hyundai H.I. 2015 United Arab Shpg

CONT 140000 Hyundai H.I. 2016 United Arab Shpg

CONT 194000 Daewoo 2015 140 Mio Hong Kong Asset Mgmt

CONT 194000 Daewoo 2015 140 Mio Hong Kong Asset Mgmt

CONT 194000 Daewoo 2015 140 Mio Hong Kong Asset Mgmt

CONT 140000 CSBC 2016 110 Mio Seaspan Corp.

CONT 140000 CSBC 2016 110 Mio Seaspan Corp.

CONT 140000 CSBC 2016 110 Mio Seaspan Corp.

CONT 140000 CSBC 2016 110 Mio Seaspan Corp.

CONT 140000 CSBC 2016 110 Mio Seaspan Corp.

CONT 16000 Jiangsu New YZJ 2015 Lomar Shpg

CONT 16000 Jiangsu New YZJ 2015 Lomar Shpg

CONT 30000 Hyundai Mipo 2015 34.4 Mio CMA-CGM

CONT 30000 Hyundai Mipo 2015 34.4 Mio CMA-CGM

CONT 30000 Hyundai Mipo 2015 34.4 Mio CMA-CGM

CONT 97000 New Times S.B. 2016 85 Mio CIMC

CONT 97000 New Times S.B. 2016 85 Mio CIMC

Drillship 61300 Samsung H.I. 2015 600 Mio Ocean Rig

Hvy Dk Cargo 22500 COSCO Dalian 2015 BIgRoll Shipping

Hvy Dk Cargo 22500 COSCO Dalian 2015 BIgRoll Shipping

LNG 95000 Hyundai H.I. 2016 Maran Gas Maritime

LNG 95000 Hyundai H.I. 2016 Maran Gas Maritime

LNG 90000 Samsung H.I. 2017 200 Mio FLEX LNG

LNG 90000 Samsung H.I. 2017 200 Mio FLEX LNG

LNG 72500 Hyundai H.I. 2016 212.5 Mio Petronas

LNG 72500 Hyundai H.I. 2017 212.5 Mio Petronas

LNG 72500 Hyundai H.I. 2017 212.5 Mio Petronas

LNG 72500 Hyundai H.I. 2017 212.5 Mio Petronas

LPG 4500 Murakami Hide 2014 17.75 Mio Tachibanaya K.K.

LPG 4500 Murakami Hide 2015 17.75 Mio Tachibanaya K.K.

LPG 6500 Murakami Hide 2014 22 Mio Tachibanaya K.K.

LPG 53800 Jiangnan Changxing 2015 67.5 Mio Tianjin Southwest

LPG 53800 Jiangnan Changxing 2015 67.5 Mio Tianjin Southwest

MPP/Hvy. Lift 32000 Shanghai S.Y. 2015 Chinese-Polish Shpg.

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12

MPP/Hvy. Lift 32000 Shanghai S.Y. 2015 Chinese-Polish Shpg.

Pass/Car STX Finnyards 2015 Scandlines Denmark

Pass/Car STX Finnyards 2015 Scandlines Denmark

PCC 29000 Toyohashi S.B. 2015 K-Line

PCC 29000 Toyohashi S.B. 2015 K-Line

PCC 30000 Japan Marine United 2015 K-Line

PCC 30000 Japan Marine United 2015 K-Line

PCC 20000 Xiamen S.B. 2016 68.5 Mio Ocean Yield AS

PCC 20000 Xiamen S.B. 2016 68.5 Mio Ocean Yield AS

Products 50000 Sungdong S.B. 2015 34 Mio Horizon Tankers

Products 50000 Sungdong S.B. 2016 34 Mio Horizon Tankers

Products 52000 Samsung Ningbo 2016 32 Mio Capital Ship Management

Products 50000 Gen. Dynamics NASSCO 2016 Seabulk Interntnl

Products 50000 Gen. Dynamics NASSCO 2017 Seabulk Interntnl

Standby/Rescue 690 Balenciaga 2014 North Star Shipping

Standby/Rescue 690 Balenciaga 2015 North Star Shipping

Standby/Rescue 690 Balenciaga 2015 North Star Shipping

Standby/Rescue 690 Balenciaga 2015 North Star Shipping

Standby/Rescue 1100 Balenciaga 2015 North Star Shipping

Standby/Rescue 1100 Balenciaga 2016 North Star Shipping

TANK 300000 Hyundai H.I. 2016 Metrostar Management

TANK 300000 Hyundai H.I. 2016 Metrostar Management

Well Stimul. Jurong S.Y. 2016 Helix Energy

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13

D E M O L I T I O N M A R K E T

Demolition Historical Data

430 410

425 425 420 405 400

380 385

180

230

280

330

380

430

480

530

580

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

USD

/to

n

Price Tankers* 2010 2011

2012 2013

*India month's end prices

405 380 400 410 400

380 375 360 370

180

230

280

330

380

430

480

530

580

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

USD

/to

n

Price Bulkers* 2010 2011

2012 2013

*India month's end prices

13.4

27 28.65 26.9

38

25.6

14.5

4.9 2.35

4.6 3.8

15.9 16.7 18.9

15.5 18

15.6

25

30.5

22.4

28.4 28.5 27

10 5.5 6.5 5

12

28.9 25.7

31.58

50.3

31.6

0

10

20

30

40

50

60

Mill

ion

dw

t

Total Demolition (Dwt)

* Bss reported sales

Demolition Prices Gen Cargo Tanker

India USD 370 /lt Ldt USD 385 /lt Ldt

Bangladesh USD 360 /lt Ldt USD 380 /lt Ldt

Pakistan USD 365 /lt Ldt USD 385 /lt Ldt

China USD 350 /lt Ldt USD 370 /lt Ldt

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14

HISTORICAL DEMOLITION PRICES (*Indian Year’s End)

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 CURR.

TANK 186 182 172 115 136 174 135 174 262 362 302 405 507 287 338 485 482 400 385 BULK 166 153 152 112 143 170 135 181 267 381 332 392 472 268 328 437 456 370 370

India

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK ABDOUL STAR 8944 1979 3315 350

BULK DIAMOND MOON 8991 1980 3253 350

BULK ACACIA N 23193 1978 6119 382

BULK H PIONEER 30900 1982 6807 407

BULK MSC ACCRA 33857 1985 9600 400

BULK TERN ARROW 41077 1986 13176 355

CONT CARIBBEAN SEA 23780 2007 14650 428

CONT SEABOXER 24046 1994 7590 427 Incl 220T RoB

CONT YM YANTIAN 49262 1989 19861 408

CONT HANSA PACIFIC 62400 1995 20876 380

CONT HANSA ATLANTIC 62422 1996 20901 378

Bangladesh

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK MAY JASMINE 43214 1984 8426 364

BULK STELLAR WIND 38313 1984 6616 356

BULK WAN TAI 31217 1984 6733 355

BULK ALEXANDER DIMITROV 38524 1985 9675 418

TANK ZEETEE 4699 1978 2390 364

RORO RANINE 4322 1978 3252 407

0

100

200

300

400

500

600

USD

/to

n

Historical Demolition Prices (India Year's End)

TANKERS

BULKERS

Avg. Trend

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15

China

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK ANIK 23245 1987 8834 363 Incl 250T RoB

BULK LINDESAY CLARK 29515 1985 6726 365

BULK KIND FOUNTAIN 31774 1983 6569 366

BULK J. FRIEND 35493 1984 7523 360

BULK SIERRA GUARDIAN 48794 1996 9164 358 Chip Carrier

BULK CLIO 69406 1989 9535 360 Incl 550T RoB

BULK HUI KANG HAI 149680 1994 22530 375

BULK TAUNTON 186324 1986 24005 381 Incl 500T RoB

CONT RONG FENG 8302 1983 3371 340

CONT PAN HE 13275 1995 5193 344

CONT YM ZENITH 45995 1996 19426 375

GAS NORMAN LADY 50922 1973 23380 521 Full spares, aluminum, non-ferrous fixtures

REEF BALTIC NIGHT 10598 1980 6752 344 Incl 80-90T Aluminum

TANK NEW FORTUNER 146591 1992 22021 380

TANK NEW VICTORY 291613 1993 38634 380

Pakistan

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK NIRMAL PRITI 43590 1985 8090 380 TANK MARAN TAURUS 301686 1993 41220 410 Asis Fujairah incl 250T RoB

Turkey

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK MOBY MAGIC 2577 1975 8128 310

RORO ROSA DELMAS 27577 1985 14222 327

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16

H I S T O R I C A L B U N K E R P R I C E S

HISTORICAL BUNKER PRICES

Rotterdam Fujeirah Houston

380 cst MGO 380 cst MGO 380 cst MGO

1991 82 170.8 78.6 206.1 75.3 161.1

1992 83 161.9 81.5 208.2 78.4 165.2

1993 67 150.5 70 202.5 71.1 160.6

1994 86 133.2 80.9 182.6 80.8 148.8

1995 97 140.6 94.6 175.8 93.2 148

1996 107 175.1 104.4 207.5 105.8 186

1997 92 155.4 99.3 205.6 97.3 179.9

1998 66.5 112.2 69.2 152.2 67.2 136.9

1999 94 133 98.5 157.2 93.3 143.9

2000 139 231.6 155.3 263.5 136 255.7

2001 116 192.4 129.7 244.7 112.8 227.5

2002 135 188.2 145.9 222.8 134 196

2003 151 230.4 166.3 265.2 160.2 265.1

2004 154 313.4 176.7 359.3 167.3 328.7

2005 236 458.4 256.6 500.1 248.3 508.5

2006 195 524.1 310.9 631.8 303 562.3

2007 347 571.3 373.7 664.7 351.8 608.6

2008 469 850.7 509.4 1037.7 496.8 933.2

2009 355 490.6 372.8 657 360.7 525

2010 452 667.1 468.2 712.9 449.3 683

2011 548 848.6 587.5 897.5 542.1 862.4

2012 585 920 606 1005 610 1005

Sep-13 590 905 616 990 615 1000

0

100

200

300

400

500

600

700

800

USD

/to

n

Bunkers Cost (380 cst)

Rotterdam

Fujeirah

Houston

Average Trend

0

200

400

600

800

1000

1200

USD

/to

n

Bunkers Cost (MGO)

Rotterdam

Fujeirah

Houston

Average Trend

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17

M A R K E T I N D I C A T O R S

GBP CAD EUR JPY CHF USD

AUD

GBP 1 0.6017 0.8381 0.00631 0.6843 0.6197 0.5777

CAD 1.6646 1 1.3946 0.010498 1.1389 1.0312 0.9612

EUR 1.194 0.7182 1 0.007531 0.8166 0.7397 0.6893

JPY 158.67 95.4326 132.939 1 108.556 98.287 91.622

CHF 1.4628 0.8802 1.2257 0.009229 1 0.9065 0.845

USD 1.6143 0.971 1.3525 0.010181 1.1045 1 0.9322

AUD 1.7335 1.0427 1.4521 0.010934 1.186 1.0739 1 * 30/09/2013 values

60

70

80

90

100

110

120

130

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

USD

-JP

Y

USD

-EU

R

Currencies USD-EUR

USD-JPY

0.00

20.00

40.00

60.00

80.00

100.00

120.00

140.00

160.00

$/B

arre

l

Brent Oil

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18

S T O C K W A T C H

NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW

NewLead Holdings Ltd. NEWL 0.15 0.11 36.4 2.73 0.07

Capital Product Partners CPLP 8.92 8.86 0.7 10.15 5.79

Diana Shipping Inc. DSX 12.21 11.04 10.6 13.24 6.46

Dryships Inc. DRYS 3.64 2.45 48.6 4.00 1.46

Eagle Bulk Shipping Inc. EGLE 7.75 3.95 96.2 8.75 1.32

Euroseas Ltd. ESEA 1.55 1.25 24 1.80 0.86

Excel MarItime Carriers EXMCQ N/A N/A N/A N/A N/A

Freeseas Inc. FREE 0.78 0.18 333.3 5.80 0.17

Genco Shipping&Trading GNK 3.87 2.95 31.2 4.98 1.12

Costamare Inc. CMRE 17.74 16.73 6 18.66 12.08

Goldenport Holdings Inc. GPRT 50.50 35.00 44.3 51.00 29.00

Navios Maritime Holdings NM 7.21 6.25 15.4 7.67 3.26

GasLog Ltd. GLOG 14.86 13.73 8.2 15.29 10.35

Paragon Shipping Inc. PRGN 6.00 7.77 -22.8 9.40 1.91

Safe Bulkers Inc. SB 6.92 6.62 4.5 7.65 3.12

Star Bulk Carriers Corp. SBLK 9.80 8.63 13.6 11.53 5.28

Stealthgas Inc. GASS 9.26 8.72 6.2 12.10 5.34

TEN Inc. TNP 5.37 4.87 10.3 5.75 3.04

TOP Ships Inc. TOPS 1.86 2.15 -13.5 2.93 0.70

Box Ships Inc. TEU 4.17 4.22 -1.2 6.33 3.51

Diana Containerships Inc. DCIX 3.91 3.64 7.4 7.13 3.57

Danaos Corporation DAC 3.93 4.54 -13.4 4.86 2.44

Aegean Marine Petroleum ANW 11.66 9.13 27.7 12.00 4.48 * 27/09/2013 closing values

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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,

ATHENIAN SHIPBROKERS S.A.