Monthly Market Report...All the information contained in this report is given in good faith, but...

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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 December 2020

All the information contained in this report is given in good faith, but without

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Insight Market Information provided and/or collected from various sources.

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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.

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

Page 1 MONTHLY MARKET REPORT

SECONDHAND MARKET - Overview of S&P Activity

Top Ranking of Buyers

m-o-m y-o-y

-34% 2%No. of Vessels Changed Hands

Dec-20

121

Previous Month Dec-19

182 119

12 yrs old built 2008

9 91,322

Bulkers -34% m-o-m 30% y-o-y

Units: 57

10 yrs old built 20101

Tankers -22% m-o-m -9% y-o-y 597,650,000

Average Age of Vessels Sold: 14 yrs old built 2006 Units: 32

0

Containers -32% m-o-m 64% y-o-y 305,400,000

Average Age of Vessels Sold: 11 yrs old built 2009 Units: 23

3

93,398

138,355

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: 47,007

Average Age of Vessels Sold (in Total): Total Invested Capital: 1,697,600,000

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: 752,850,000

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

VLOC - - -

Newcastlemax 5 211,682 2011

Capesize 8 177,744 2010

Post Panamax 2 95,723 2011

Kamsarmax 7 82,545 2013

Panamax 8 76,197 2004

Ultramax 8 61,943 2015

Supramax 15 55,064 2009

Handymax - - -

Handysize 4 35,742 2011

Handy - - -

Small - - -

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

VLCC 7 291,468 2002

Suezmax 5 155,409 2008

Aframax 9 108,366 2009

Panamax 6 74,258 2005

MR/Handymax 4 46,296 2009

Handy - - -

Small 1 4,023 1998

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

ULCV - - -

Neopanamax - - -

Post-Panamax 1 108,447 2007

Panamax 4 81,709 2008

Feedermax 11 49,663 2008

Feeder 4 16,755 2012

Small feeder 3 10,857 2007

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 57 5,323,670 752,850,000 1 2 86 -34% 44 30%

Tankers 32 4,427,375 597,650,000 0 1 41 -22% 35 -9%

Gas Tankers 2 111,458 37,000,000 1 0 6 -67% 3 -33%

General Cargo/MPP 3 33,432 3,700,000 1 0 12 -75% 6 -50%

Containers 23 1,081,162 305,400,000 3 0 34 -32% 14 64%

Reefers 0 0 0 0 0 0 3 -100%

Passenger/Cruise 0 0 0 0 0 1 -100% 2 -100%

Ro-Ro 1 838 0 1 0 0 3 -67%

Car Carrier 0 0 0 0 0 0 0

Combined 0 0 0 0 0 0 0

Special Projects 3 72,043 1,000,000 2 0 2 50% 9 -67%

TOTAL 121 11,049,978 1,697,600,000 9 3 182 -34% 119 2%

GREEK PRESENCE 14% share to the total S&P Activity

Vessel Purchases (Secondhand Market)


Bulk Carriers 13 1,792,461 206,450,000 0 0 14 -7% 5 160%

Tankers 3 732,901 71,200,000 0 1 7 -57% 8 -63%

Gas Tankers 0 0 0 0 0 0 1 -100%

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

Containers 1 55,497 12,000,000 0 0 5 -80% 2 -50%

Reefers 0 0 0 0 0 0 0

Passenger/Cruise 0 0 0 0 0 0 1 -100%

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 0

TOTAL 17 2,580,859 289,650,000 0 1 27 -37% 18 -6%

CHINESE PRESENCE 14% share to the total S&P Activity

Vessel Purchases (Secondhand Market)


Bulk Carriers 9 880,236 105,600,000 0 2 24 -63% 9 0%

Tankers 2 203,537 64,000,000 0 0 3 -33% 2 0%

Gas Tankers 0 0 0 0 0 0 0

General Cargo/MPP 1 13,592 0 1 0 6 -83% 1 0%

Containers 5 329,842 135,500,000 0 0 0 2 150%

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 0


Combined 0 0 0 0 0 0 0

Special Projects 0 0 0 0 0 0 0

TOTAL 17 1,427,207 305,100,000 1 2 33 -48% 14 21%

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

-51% -28%No. of Vessel Demolitions 28 57 39

Dec-20 Previous Month Dec-19

Average Age of Vessels Scrapped: 29 yrs old built 1991

90,336

Bulkers 57% m-o-m 10% y-o-y

Units: 11

25 yrs old built 1995 175,144

Tankers -50% m-o-m -10% y-o-y

Units: 9

29 yrs old built 1991 17,378

Containers m-o-m -86% y-o-y 12,200

Units: 1

27 yrs old built 1993 12,200

Total Deadweight:

Total Deadweight:

Total Deadweight:

Total Deadweight:

Average Age of Vessels Scrapped: Average Dwt :

2,529,408

1,926,587

Average Dwt :

Average Age of Vessels Scrapped:

Average Age of Vessels Scrapped:

156,403

Average Dwt :

Average Dwt :

Bulkers No. of Demolitions Average Dwt Average Built

VLOC - - -

Newcastlemax 5 281,355 1994

Capesize 2 168,479 2001

Post Panamax - - -

Kamsarmax - - -

Panamax - - -

Ultramax - - -

Supramax - - -

Handymax 4 45,714 1995

Handysize - - -

Handy - - -

Small - - -

Tankers No. of Demolitions Average Dwt Average Built

VLCC - - -

Suezmax - - -

Aframax 1 109,280 2000

Panamax - - -

MR/Handymax - - -

Handy - - -

Small 8 5,890 1990

Containers No. of Demolitions Average Dwt Average Built

ULCV - - -

Neopanamax - - -

Post-Panamax - - -

Panamax - - -

Feedermax - - -

Feeder 1 12,200 1993

Small Feeder - - -



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 11 1,926,587 7 57% 10 10%

Tankers 9 156,403 18 -50% 10 -10%

Gas Tankers 2 142,944 7 -71% 4 -50%

General Cargo/MPP 2 11,067 8 -75% 4 -50%

Containers 1 12,200 0 7 -86%

Reefers 1 4,238 2 -50% 1 0%

Passenger/Cruise 0 0 5 -100% 0

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

Car Carrier 0 0 0 0

Combined 0 0 0 0

Special Projects 2 275,969 9 -78% 2 0%

TOTAL 28 2,529,408 57 -51% 39 -28%


India 39%


Bulk Carriers 3 618,184 1 200% 1 200%

Tankers 4 25,186 5 -20% 1 300%

Gas Tankers 1 71,472 2 -50% 0

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

Containers 0 0 0 2 -100%

Reefers 1 4,238 1 0% 1 0%

Passenger/Cruise 0 0 3 -100% 0

Ro-Ro 0 0 0 1 -100%

Car Carrier 0 0 0 0

Combined 0 0 0 0

Special Projects 2 275,969 2 0% 1 100%

TOTAL 11 995,049 15 -27% 8 38%


share of total Demo Activity

Bangladesh 18%


Bulk Carriers 4 651,861 0 6 -33%

Tankers 0 0 5 -100% 5 -100%

Gas Tankers 1 71,472 1 0% 0

General Cargo/MPP 0 0 0 2 -100%

Containers 0 0 0 2 -100%

Reefers 0 0 0 0

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 0 0 0 0

TOTAL 5 723,333 6 -17% 15 -67%





DEMOLITION MARKET

Demo Activity per Demolition Country (Pakistan, China)

Pakistan 18%


Bulk Carriers 2 92,388 3 -33% 0

Tankers 3 12,722 6 -50% 0

Gas Tankers 0 0 0 0

General Cargo/MPP 0 0 6 -100% 1 -100%

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 1 -100% 0

TOTAL 5 105,110 16 -69% 1 400%



China 0%


Bulk Carriers 0 0 0 2 -100%

Tankers 0 0 0 1 -100%

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 0 0 0 3 -100%





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 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 1 0 1 0 0 0

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

2001-2005 UP TO 15YRS 2 1 0 1 0 0

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

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

5 2 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 2 2 0 0 0 0

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

2001-2005 UP TO 15YRS 2 0 2 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

5 3 2 0 0 0

BULK CARRIERS FIXTURE ACTIVITY IN NOVEMBER 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 0 0 0 0 0 0

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

1996-2000 UP TO 20YRS 1 1 0 0 0 0

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

1 1 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 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 1 1 0 0 0 0

2006-2010 UP TO 10YRS 1 1 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 0 -

POST PANAMAX 0 0 0 0 0 0 0 1 -100%

KAMSARMAX 0 1 2 2 0 0 5 2 150%

PANAMAX 0 2 1 2 0 0 5 4 25%

SUPRAMAX 0 0 0 0 1 0 1 0 -

HANDYMAX 0 0 0 0 0 0 0 0 -

HANDYSIZE 0 1 1 0 0 0 2 0 -

TOTAL 0 4 4 5 1 0 14 7 100%

PERIOD MARKET - TOTAL BULK CARRIERS FIXTURE ACTIVITY,DECEMBER 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 Dec-19 Change % y-o-y Low High

BDI 1,244 1,180 63 5% 1,381 -137 -10% 1,121 1,366

BCI 1,587 1,588 -1 0% 2,679 -1,091 -41% 1,241 2,006

BPI 1,393 1,284 109 9% 1,335 58 4% 1,325 1,491

BSI 1,033 930 103 11% 804 230 29% 1,011 1,057

BHSI 670 600 69 12% 505 165 33% 658 678

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

Dirty-BDTI 446 426 20 5% 1,428 -982 -69% 430 468

Clean-BCTI 390 339 51 15% 874 -484 -55% 344 431

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

Capesize 13,164 13,192 -27 0% 19,637 -6,472 -33% 10,295 16,633

Panamax 11,203 10,199 1,004 10% 10,690 514 5% 10,588 12,079

Supramax 11,365 10,229 1,136 11% 8,295 3,070 37% 11,119 11,631

Handy 12,052 10,798 1,254 12% 7,330 4,722 64% 11,848 12,205

Figures represent monthly average values

Dec-20

Dec-20

Dec-20

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