Monthly Market Report · 2020. 4. 21. · golden destiny established since 1994 sale & purchase -...

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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

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 March 2020

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.

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

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GOLDEN DESTINY established since 1994 SALE & PURCHASE - MARINE INSURANCE - SHIP VALUATIONS - MARKET RESEARCH March 2020

Page 1 MONTHLY MARKET REPORT

SECONDHAND MARKET - Overview of S&P Activity

Top Ranking of Buyers

m-o-m y-o-y

-27% -14%No. of Vessels Changed Hands

Mar-20

90

Previous Month Mar-19

124 105

14 yrs old built 2006

13 76,844

Bulkers 0% m-o-m -32% y-o-y

Units: 30

13 yrs old built 20070

Tankers -33% m-o-m -21% y-o-y 577,400,000

Average Age of Vessels Sold: 15 yrs old built 2005 Units: 30

2

Containers -52% m-o-m 117% y-o-y 241,450,000

Average Age of Vessels Sold: 12 yrs old built 2008 Units: 13

3

71,898

129,540

S&P deals reported at an undisclosed sale price:

Average Dwt Sold:

Total Invested Capital:

S&P deals reported at an undisclosed sale price:

Average Dwt Sold:S&P deals reported at an undisclosed sale price: 42,433

Average Age of Vessels Sold (in Total): Total Invested Capital: 1,206,200,000

Average Age of Vessels Sold:S&P deals reported at an undisclosed sale price:

Total Invested Capital:

Average Dwt Sold:

Average Dwt Sold:

Total Invested Capital: 301,000,000

Bulkers No. of S&P deals Average Dwt Average Built

VLOC - - -

Newcastlemax - - -

Capesize 4 173,654 2007

Post Panamax - - -

Kamsarmax 2 82,087 2008

Panamax 3 73,595 2002

Ultramax 6 64,462 2012

Supramax 8 53,034 2007

Handymax 3 47,084 2002

Handysize 3 35,008 2010

Handy 1 20,035 2002

Small - - -

Tankers No. of S&P deals Average Dwt Average Built

VLCC 8 298,927 2006

Suezmax 2 153,667 1998

Aframax 5 108,948 2005

Panamax 3 73,532 2003

MR/Handymax 9 43,773 2006

Handy 1 13,114 2009

Small 2 7,515 2011

Containers No. of S&P deals Average Dwt Average Built

ULCV - - -

Neopanamax 2 132,735 2018

Post-Panamax - - -

Panamax 1 68,228 2006

Feedermax 2 52,600 2006

Feeder 5 16,953 2010

Small feeder 3 9,321 2002

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



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 30 2,156,933 301,000,000 0 0 30 0% 44 -32%

Tankers 30 3,886,191 577,400,000 2 0 45 -33% 38 -21%

Gas Tankers 3 127,346 54,000,000 1 0 3 0% 6 -50%

General Cargo/MPP 6 167,710 31,850,000 0 0 9 -33% 1 500%

Containers 13 551,624 241,450,000 3 0 27 -52% 6 117%

Reefers 0 0 0 0 0 0 0

Passenger/Cruise 0 0 0 0 0 0 0

Ro-Ro 0 0 0 0 0 0 1 -100%

Car Carrier 0 0 0 0 0 0 0

Combined 0 0 0 0 0 0 0

Special Projects 8 26,125 500,000 7 1 10 -20% 9 -11%

TOTAL 90 6,915,929 1,206,200,000 13 1 124 -27% 105 -14%

GREEK PRESENCE 8% share to the total S&P Activity

Vessel Purchases (Secondhand Market)


Bulk Carriers 1 52,498 6,800,000 0 0 4 -75% 6 -83%

Tankers 3 456,728 54,900,000 0 0 4 -25% 6 -50%

Gas Tankers 0 0 0 0 0 0 0

General Cargo/MPP 1 32,226 7,200,000 0 0 1 0% 0

Containers 2 27,606 5,500,000 0 0 4 -50% 2 0%

Reefers 0 0 0 0 0 0 0


Ro-Ro 0 0 0 0 0 0 0


Combined 0 0 0 0 0 0 0

Special Projects 0 0 0 0 0 0 2 -100%

TOTAL 7 569,058 74,400,000 0 0 13 -46% 16 -56%

CHINESE PRESENCE 11% share to the total S&P Activity

Vessel Purchases (Secondhand Market)


Bulk Carriers 6 611,509 49,800,000 0 0 8 -25% 16 -63%

Tankers 1 51,218 12,750,000 0 0 1 0% 1 0%

Gas Tankers 1 49,255 0 1 0 0 1 0%

General Cargo/MPP 0 0 0 0 0 1 -100% 0

Containers 2 265,469 186,800,000 0 0 2 0% 2 0%

Reefers 0 0 0 0 0 0 0


Ro-Ro 0 0 0 0 0 0 0


Combined 0 0 0 0 0 0 0

Special Projects 0 0 0 0 0 2 -100% 0

TOTAL 10 977,451 249,350,000 1 0 14 -29% 20 -50%

Previous Year

Previous Month Previous Year

Previous YearPrevious Month

Previous Month



DEMOLITION MARKET - Overview of Demo Activity

Top Ranking of Demo Countries

m-o-m y-o-y

-7% 0%No. of Vessel Demolitions 41 44 41

Mar-20 Previous Month Mar-19

Average Age of Vessels Scrapped: 27 yrs old built 1993

57,166

Bulkers 13% m-o-m 70% y-o-y

Units: 17

24 yrs old built 1996 116,508

Tankers -63% m-o-m 50% y-o-y

Units: 3

34 yrs old built 1986 26,683

Containers -10% m-o-m -25% y-o-y 158,683

Units: 9

23 yrs old built 1997 17,631

Total Deadweight:

Total Deadweight:

Total Deadweight:

Total Deadweight:

Average Age of Vessels Scrapped: Average Dwt :

2,343,788

1,980,633

Average Dwt :

Average Age of Vessels Scrapped:

Average Age of Vessels Scrapped:

80,049

Average Dwt :

Average Dwt :

Bulkers No. of Demolitions Average Dwt Average Built

VLOC 1 306,902 1993

Newcastlemax 1 298,450 1994

Capesize 6 167,860 1999

Post Panamax - - -

Kamsarmax - - -

Panamax - - -

Ultramax 1 68,788 1990

Supramax 1 55,222 2003

Handymax 3 45,767 1994

Handysize - - -

Handy 4 26,704 1993

Small - - -

Tankers No. of Demolitions Average Dwt Average Built

VLCC - - -

Suezmax - - -

Aframax - - -

Panamax - - -

MR/Handymax 1 44,128 1996

Handy 2 17,961 1981

Small - - -

Containers No. of Demolitions Average Dwt Average Built

ULCV - - -

Neopanamax - - -

Post-Panamax - - -

Panamax - - -

Feedermax 1 33,709 1999

Feeder 6 16,436 1997

Small Feeder 2 13,179 1998



DEMOLITION MARKET

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

Demo Activity (Demoltion Market)

Vessel Type Units Dwt Units %m-o-m Units %y-o-y

Bulk Carriers 17 1,980,633 15 13% 10 70%

Tankers 3 80,049 8 -63% 2 50%

Gas Tankers 1 8,875 0 2 -50%

General Cargo/MPP 6 104,076 7 -14% 2 200%

Containers 9 158,683 10 -10% 12 -25%

Reefers 0 0 0 2 -100%

Passenger/Cruise 0 0 0 1 -100%

Ro-Ro 0 0 1 -100% 2 -100%

Car Carrier 0 0 0 0

Combined 0 0 0 0

Special Projects 5 11,472 3 67% 8 -38%

TOTAL 41 2,343,788 44 -7% 41 0%


India 32%


Bulk Carriers 5 611,190 2 150% 1 400%

Tankers 2 62,037 3 -33% 1 100%

Gas Tankers 0 0 0 1 -100%

General Cargo/MPP 2 49,771 4 -50% 0

Containers 3 63,183 4 -25% 3 0%

Reefers 0 0 0 2 -100%

Passenger/Cruise 0 0 0 0

Ro-Ro 0 0 0 0

Car Carrier 0 0 0 0

Combined 0 0 0 0

Special Projects 1 853 1 0% 0

TOTAL 13 787,034 14 -7% 8 63%


share of total Demo Activity

Bangladesh 37%


Bulk Carriers 10 1,272,185 10 0% 6 67%

Tankers 0 0 4 -100% 0

Gas Tankers 0 0 0 1 -100%

General Cargo/MPP 0 0 1 -100% 2 -100%

Containers 4 70,399 0 5 -20%

Reefers 0 0 0 0

Passenger/Cruise 0 0 0 1 -100%

Ro-Ro 0 0 0 1 -100%

Car Carrier 0 0 0 0

Combined 0 0 0 0

Special Projects 1 1,375 2 -50% 1 0%

TOTAL 15 1,343,959 17 -12% 17 -12%





DEMOLITION MARKET

Demo Activity per Demolition Country (Pakistan, China)

Pakistan 2%


Bulk Carriers 1 68,788 1 0% 0

Tankers 0 0 1 -100% 0

Gas Tankers 0 0 0 0

General Cargo/MPP 0 0 0 0

Containers 0 0 0 0

Reefers 0 0 0 0


Ro-Ro 0 0 0 0

Car Carrier 0 0 0 0

Combined 0 0 0 0

Special Projects 0 0 0 0

TOTAL 1 68,788 2 -50% 0



China 5%


Bulk Carriers 0 0 0 0

Tankers 0 0 0 0

Gas Tankers 0 0 0 0

General Cargo/MPP 2 44,574 0 0

Containers 0 0 0 0

Reefers 0 0 0 0


Ro-Ro 0 0 0 0

Car Carrier 0 0 0 0

Combined 0 0 0 0

Special Projects 0 0 0 0

TOTAL 2 44,574 0 0





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

3-6

MONTHS

6-12

MONTHS

12-24

M0NTHS

24-36

M0NTHS

>36

MONTHS

>=2016 N/B 0 0 0 0 0 0

2011-2015 UP TO 5YRS 0 0 0 0 0 0

2006-2010 UP TO 10YRS 0 0 0 0 0 0

2001-2005 UP TO 15YRS 1 0 1 0 0 0

1996-2000 UP TO 20YRS 0 0 0 0 0 0

1986-1995 UP TO 30YRS 0 0 0 0 0 0

1 0 1 0 0 0

3-6

MONTHS

6-12

MONTHS

12-24

M0NTHS

24-36

M0NTHS

>36

MONTHS

>=2016 N/B 0 0 0 0 0 0

2011-2015 UP TO 5YRS 0 0 0 0 0 0

2006-2010 UP TO 10YRS 1 0 0 1 0 0

2001-2005 UP TO 15YRS 0 0 0 0 0 0

1996-2000 UP TO 20YRS 0 0 0 0 0 0

1986-1995 UP TO 30YRS 0 0 0 0 0 0

1 0 0 1 0 0

3-6

MONTHS

6-12

MONTHS

12-24

M0NTHS

24-36

M0NTHS

>36

MONTHS

>=2016 N/B 0 0 0 0 0 0

2011-2015 UP TO 5YRS 1 1 0 0 0 0

2006-2010 UP TO 10YRS 3 0 1 2 0 0

2001-2005 UP TO 15YRS 0 0 0 0 0 0

1996-2000 UP TO 20YRS 0 0 0 0 0 0

1986-1995 UP TO 30YRS 0 0 0 0 0 0

4 1 1 2 0 0

3-6

MONTHS

6-12

MONTHS

12-24

M0NTHS

24-36

M0NTHS

>36

MONTHS

>=2016 N/B 0 0 0 0 0 0

2011-2015 UP TO 5YRS 1 1 0 0 0 0

2006-2010 UP TO 10YRS 2 1 1 0 0 0

2001-2005 UP TO 15YRS 0 0 0 0 0 0

1996-2000 UP TO 20YRS 0 0 0 0 0 0

1986-1995 UP TO 30YRS 0 0 0 0 0 0

3 2 1 0 0 0

BULK CARRIERS FIXTURE ACTIVITY IN MARCH 2020

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

BUILT VESSEL'S AGE

FIXTURES

NO.

FIXTURE PERIOD

TOTAL

POST PANAMAX - FIXTURES PER VESSEL'S AGE

BUILT VESSEL'S AGE

FIXTURES

NO.

FIXTURE PERIOD

TOTAL

KAMSARMAX - FIXTURES PER VESSEL'S AGE

BUILT VESSEL'S AGE

FIXTURES

NO.

FIXTURE PERIOD

TOTAL

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

BUILT VESSEL'S AGE

FIXTURES

NO.

FIXTURE PERIOD

TOTAL



SPECIAL FEATURE – DRY PERIOD MARKET

Bulk Carriers Fixture Activity ( No. of Fixtures per vessel size /age and type of fixture period) SUPRAMAX / HANDYMAX/ HANDYSIZE

3-6

MONTHS

6-12

MONTHS

12-24

M0NTHS

24-36

M0NTHS

>36

MONTHS

>=2016 N/B 0 0 0 0 0 0

2011-2015 UP TO 5YRS 0 0 0 0 0 0

2006-2010 UP TO 10YRS 2 1 1 0 0 0

2001-2005 UP TO 15YRS 0 0 0 0 0 0

1996-2000 UP TO 20YRS 0 0 0 0 0 0

1986-1995 UP TO 30YRS 0 0 0 0 0 0

2 1 1 0 0 0

3-6

MONTHS

6-12

MONTHS

12-24

M0NTHS

24-36

M0NTHS

>36

MONTHS

>=2016 N/B 0 0 0 0 0 0

2011-2015 UP TO 5YRS 0 0 0 0 0 0

2006-2010 UP TO 10YRS 0 0 0 0 0 0

2001-2005 UP TO 15YRS 0 0 0 0 0 0

1996-2000 UP TO 20YRS 0 0 0 0 0 0

1986-1995 UP TO 30YRS 0 0 0 0 0 0

0 0 0 0 0 0

3-6

MONTHS

6-12

MONTHS

12-24

M0NTHS

24-36

M0NTHS

>36

MONTHS

>=2016 N/B 0 0 0 0 0 0

2011-2015 UP TO 5YRS 0 0 0 0 0 0

2006-2010 UP TO 10YRS 2 2 0 0 0 0

2001-2005 UP TO 15YRS 0 0 0 0 0 0

1996-2000 UP TO 20YRS 0 0 0 0 0 0

1986-1995 UP TO 30YRS 0 0 0 0 0 0

2 2 0 0 0 0

SUPRAMAX (50,000-59,999 DWT) - FIXTURES PER VESSEL'S AGE

BUILT VESSEL'S AGE

FIXTURES

NO.

FIXTURE PERIOD

TOTAL

HANDYMAX (38,000-49,999 DWT) - FIXTURES PER VESSEL'S AGE

BUILT VESSEL'S AGE

FIXTURES

NO.

FIXTURE PERIOD

TOTAL

TOTAL

HANDYSIZE (22,000-37,9999 DWT) - FIXTURES PER VESSEL'S AGE

BUILT VESSEL'S AGE

FIXTURES

NO.

FIXTURE PERIOD

TOTAL BULK CARRIERS FIXTURE ACTIVITY

N/B UP TO 5YRS UP TO 10YRS UP TO 15YRS UP TO 20YRS UP TO 30YRS

>=2017 2012-2016 2007-2011 2002-2006 1997-2001 1987-1996

CAPESIZE 0 0 0 1 0 0 1 2 -50%

POST PANAMAX 0 0 1 0 0 0 1 0 -

KAMSARMAX 0 1 3 0 0 0 4 6 -33%

PANAMAX 0 1 2 0 0 0 3 4 -25%

SUPRAMAX 0 0 2 0 0 0 2 4 -50%

HANDYMAX 0 0 0 0 0 0 0 0 -

HANDYSIZE 0 0 2 0 0 0 2 1 100%

TOTAL 0 2 10 1 0 0 13 17 -24%

PERIOD MARKET - TOTAL BULK CARRIERS FIXTURE ACTIVITY, MARCH 2020 Previous Month

TOTAL Units % m-o-m



FREIGHT MARKET PERFORMANCE DRY MARKET-BALTIC DRY INDICES-CHARTS

BALTIC DRY INDEX / BALTIC CAPESIZE / BALTIC PANAMAX INDEX / BALTIC SUPRAMAX / BALTIC HANDYSIZE INDEX

TC AVERAGE EARNINGS – CAPESIZE / PANAMAX / SUPRAMAX / HANDYSIZE



FREIGHT MARKET PERFORMANCE TANKER MARKET-BALTIC INDICES-CHARTS

BALTIC TANKER INDICES – (BALTIC CLEAN AND BALTIC DIRTY)

Summary of Baltic Indices & Average Time Charter Earnings

Dry Current Previous Change % m-o-m Mar-19 Change % y-o-y Low High

BDI 601 461 140 31% 680 -79 -12% 539 633

BCI -222 -243 22 -9% 300 -522 -174% -372 204

BPI 898 675 223 33% 946 -48 -5% 715 1,068

BSI 696 513 183 36% 797 -101 -13% 568 755

BHSI 386 306 80 26% 436 -50 -12% 327 430

Wet Current Previous Change % m-o-m Mar-19 Change % y-o-y Low High

Dirty-BDTI 1,107 838 269 32% 719 388 54% 764 1,518

Clean-BCTI 791 649 142 22% 629 162 26% 645 860

Average T/C routes Current Previous Change % m-o-m Mar-19 Change % y-o-y Low High

Capesize 3,178 2,712 466 17% 4,662 -1,484 -32% 2,172 5,853

Panamax 6,744 4,738 2,006 42% 7,599 -855 -11% 5,101 8,274

Supramax 7,655 5,649 2,006 36% 9,094 -1,439 -16% 6,248 8,304

Handy 6,941 5,499 1,442 26% 6,416 525 8% 5,881 7,736

Figures represent monthly average values

Mar-20

Mar-20

Monthly Market Report · 2020. 4. 21. · golden destiny established since 1994 sale & purchase -...

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