Monthly Newbuilding Market Report · preparation of this report, no representation or warranty,...

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Monthly Newbuilding Market Report Issue: February 2015 Overview of Ordering Activity (per vessel type / Top Ranking of Contractors) page 1 Ordering Activity (No. of Units ordered, Dwt, Invested Capital) page 2 Overall - Greek Presence - Chinese Presence Newbuilding Trends (Ordering Activity per Vessel Size for main segments) page 3 - 4 Overall – Greek Presence Overview of Ordering Activity (Top Shipbuilding Countries) page 5 -6 Ordering Activity (No. of Units ordered, Dwt, Cbm TEU) China – Japan-Korea page 7 Newbuilding Trends (Ordering Activity per Vessel Size for main segments) page 8 -10 GOLDEN DESTINY RESEARCH & VALUATIONS 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.

Transcript of Monthly Newbuilding Market Report · preparation of this report, no representation or warranty,...

Page 1: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

Monthly Newbuilding Market Report Issue: February 2015

Overview of Ordering Activity (per vessel type / Top Ranking of Contractors) page 1

Ordering Activity (No. of Units ordered, Dwt, Invested Capital) page 2

Overall - Greek Presence - Chinese Presence

Newbuilding Trends (Ordering Activity per Vessel Size for main segments) page 3 - 4

Overall – Greek Presence

Overview of Ordering Activity (Top Shipbuilding Countries) page 5 -6

Ordering Activity (No. of Units ordered, Dwt, Cbm TEU)

China – Japan-Korea page 7

Newbuilding Trends (Ordering Activity per Vessel Size for main segments) page 8 -10

GOLDEN DESTINY RESEARCH & VALUATIONS

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.

Page 2: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

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Page 3: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 1 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING MARKET -Overview of Ordering Activity

Per Vessel Type for Main Segments Top Ranking of Contractors

m-o-m y-o-y

-14% -58%

125% -51%

155% -36%

No. of Vessels Ordered 131 153 314

Chinese Presence 28 11 44

Greek Presence 18 8

February 2015 Previous Month February 2014

37

Average Dwt Ordered: 71,703

Total Invested Capital: 3,122,400,001 82

Greek Presence:

Total New orders 18 14% share to the total Ordering Activity

Average Dwt Ordered: 127,108

Total Invested Capital: 452,000,000 13 NB deals reported at an undisclosed Contract Price

Chinese Presence:

Total New orders 28 21% share to the total Ordering Activity

Average Dwt Ordered: 50,380

Total Invested Capital: 503,400,001 20 NB deals reported at an undisclosed Contract Price

Per Vessel Type

Bulk Carriers

Average Dwt Ordered: 49,135 118% m-o-m -66% y-o-y

Total Invested Capital: 147,500,001 33 NB deals reported at an undisclosed Contract Price

Tankers

Average Dwt Ordered: 173,432 142% m-o-m -52% y-o-y

Total Invested Capital: 1,809,800,000 6 NB deals reported at an undisclosed Contract Price

LNG Tankers

Average Cbm Ordered: 124,800 -69% m-o-m -75% y-o-y

Total Invested Capital: 560,000,000 6 NB deals reported at an undisclosed Contract Price

LPG Tankers

Average Cbm Ordered: 32,750 200% m-o-m -88% y-o-y

Total Invested Capital: 186,800,000 - NB deals reported at an undisclosed Contract Price

Containers

Average TEU Ordered: 2,150 -54% m-o-m -7% y-o-y

Total Invested Capital: 273,000,000 6 NB deals reported at an undisclosed Contract Price

% change volume of activity

NB deals reported at an undisclosed Contract Price

Bulk Carriers;

28%

Tankers; 22%

Gas; 5%

Cont; 10%

Reefer; 2% Ro-Ro/Cruise;

6%

FEB 2015: ORDERING ACTIVITY PER VESSEL TYPE

Undisclosed; 5%

PRC-HK; 21%

GR; 14%

DNM; 7%

NOR; 6%

SKR; 5%

FEB 2015: TOP RANKING OF CONTRACTORS

Page 4: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 2 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING MARKET

Ordering Activity (No of Units Ordered, Dwt, Invested Capital) Greek Presence (No of Units Ordered, Dwt, Invested Capital) Chinese Presence (No of Units Ordered, Dwt, Invested Capital)

Ordering Activity (Overall)

Vessel Type Units Dwt ($) Invested P&C Units %m-o-m Units %y-o-yBulk Carriers 37 1,928,933 147,500,001 33 17 118% 108 -66%

Tankers 29 5,821,024 1,809,800,000 6 12 142% 60 -52%

Gas Tankers-LNG 4 233,800 560,000,000 - 13 -69% 16 -75%

Gas Tankers-LPG 3 68,500 186,800,000 - 1 200% 25 -88%

General Cargo/MPP 0 - - - 17 - 13 -

Containers 13 43,600 273,000,000 6 28 -54% 14 -7%

Reefers 2 12,000 - 2 0 - 0 -

Passenger/Cruise 0 - - - 0 - 8 -

Ro-Ro 8 9,800 8,600,000 7 5 60% 1 700%

Car Carrier 0 - - - 0 - 0 -

Combined 0 - - - 0 - 0 -

Special Projects 35 68,875 136,700,000 28 60 -42% 69 -49%

TOTAL 131 8,186,532 3,122,400,001 82 153 -14% 314 -58%

GREEK PRESENCE 14% share to the total Ordering Activity

Vessel Type Units Dwt ($) Invested P&C Units %m-o-m Units %y-o-yBulk Carriers 9 553,700 0 9 0 - 13 -31%

Tankers 7 1,659,144 452,000,000 2 0 - 10 -30%

Gas Tankers-LNG 0 - - - 2 - 2 -

Gas Tankers-LPG 0 - - - 0 - 6 -

General Cargo/MPP 0 - - - 0 - 0 -

Containers 2 43,600 0 2 6 -67% 4 -50%

Reefers 0 - - - 0 - 0 -

Passenger/Cruise 0 - - - 0 - 0 -

Ro-Ro 0 - - - 0 - 0 -

Car Carrier 0 - - - 0 - 0 -

Combined 0 - - - 0 - 0 -

Special Projects 0 - - - 0 - 2 -

TOTAL 18 2,256,444 452,000,000 13 8 125% 37 -51%

CHINESE PRESENCE 21% share to the total Ordering Activity

Vessel Type Units Dwt ($) Invested P&C Units %m-o-m Units %y-o-y

Bulk Carriers 5 264,500 81,500,001 2 0 - 22 -77%

Tankers 5 1,306,000 421,900,000 - 1 400% 1 -

Gas Tankers-LNG 0 - - - 2 - 0 -

Gas Tankers-LPG 0 - - - 0 - 15 -

General Cargo/MPP 0 - - - 3 - 4 -

Containers 0 - - - 2 - 0 -

Reefers 2 12,000 0 2 0 - 0 -

Passenger/Cruise 0 - - - 0 - 0 -

Ro-Ro 0 - - - 0 - 0 -

Car Carrier 0 - - - 0 - 0 -

Combined 0 - - - 0 - 0 -

Special Projects 16 26,000 0 16 3 - 2 -

TOTAL 28 1,608,500 503,400,001 20 11 155% 44 -36%

Previous Month Previous Year

Previous Month Previous Year

Previous Month Previous Year

Page 5: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 3 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING TRENDS – OVERALL

Ordering Activity Per Vessel Size for Main Segments

Per Vessel Size

Dwt Bulk Carriers Units Average Dwt Ordered Units %m-o-m Units %y-o-y

10,000-29,999 Handy 0 - 0 - 1 -100%

30,000-39,000 Handysize 12 36,376 13 -8% 17 -29%

40,000-49,999 Handymax 5 43,750 0 - 0 -

50,000-59,999 Supramax 2 58,000 0 - 7 -71%

60,000-67,000 Ultramax 6 65,673 0 - 43 -86%

70,000-78,999 Panamax 0 - 0 - 5 -100%

79,000-87,000 Kamsarmax 9 81,900 0 - 21 -57%

90,000-99,999 Post Panamax 0 - 0 - 0 -

100,000-119,999 Min Cape 0 - 0 - 0 -

120,000-219,999 Capesize 0 - 4 -100% 11 -100%

>=220,000 VLOC 0 - 0 - 3 -100%

TOTAL 34 49,135 17 100% 108 -69%

Dwt Tankers Units Average Dwt Ordered Units %m-o-m Units %y-o-y

less than 10,000 Small 2 7,040 0 - 3 -33%

10,000-34,999 Handy 0 - 1 -100% 11 -100%

35,000-54,999 MR/Handymax 0 - 0 - 16 -100%

55,000-79,999 LR1-Panamax 4 74,000 0 - 9 -56%

80,000-119,999 LR2-Aframax 3 114,950 7 -57% 9 -67%

120,000-160,000 Suezmax 7 153,691 1 600% 0 -

161,000-320,000 VLCC 13 315,000 2 550% 12 8%

TOTAL 29 173,432 11 164% 60 -52%

LNG Tankers Units Average Cbm Ordered Units %m-o-m Units %y-o-y

Small 0 - 1 -100% 10 -100%

Medium 2 27,000 1 100% 0 -

Very Large 2 173,700 11 -82% 4 -50%

TOTAL 4 124,800 13 -69% 14 -71%

Cbm LPG Tankers Units Average Cbm Ordered Units %m-o-m Units %y-o-y

1,000-11,999 Small 0 - 1 -100% 2 -100%

12,000-19,999 Handy 0 - 0 - 0 -

20,000-49,999 Medium-MGC 3 32,750 0 - 0 -

50,000-69,999 Large-LGC 0 - 0 - 0 -

>=70,000 Very Lagre-VLGC 0 - 0 - 23 -100%

TOTAL 3 32,750 1 200% 25 -88%

TEU Containers Units Average TEU Ordered Units %m-o-m Units %y-o-y

0-999 Feeder / Feedermax 0 - 0 - 1 -100%

1,000-1,999 Handy 6 1,633 2 200% 3 100%

2,000-2,999 Sub-Panamax 0 - 2 -100% 1 -100%

3,000-4,999 Small Panamax 7 3,700 2 250% 0 -

5,000-7,999 Large Panamax 0 - 0 - 0 -

8,000-10,000 Post Panamax 0 - 0 - 9 -100%

>10,000 Post Panamax 0 - 22 -100% 0 -

TOTAL 13 2,150 28 -54% 14 -7%

Previous YearFebruary 2015 Previous Month

Page 6: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 4 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING TRENDS - GREEK PRESENCE Ordering Activity

Per Vessel Size for Main Segments

Per Vessel Size

Dwt Bulk Carriers Units Average Dwt Ordered Units %m-o-m Units %y-o-y

10,000-29,999 Handy 0 - 0 - 0 -

30,000-39,000 Handysize 4 35,750 0 - 0 -

40,000-49,999 Handymax 0 - 0 - 0 -

50,000-59,999 Supramax 0 - 0 - 0 -

60,000-67,000 Ultramax 0 - 0 - 4 -100%

70,000-78,999 Panamax 0 - 0 - 0 -

79,000-87,000 Kamsarmax 5 81,800 0 - 1 400%

90,000-99,999 Post Panamax 0 - 0 - 0 -

100,000-119,999 Min Cape 0 - 0 - 0 -

120,000-219,999 Capesize 0 - 0 - 8 -100%

>=220,000 VLOC 0 - 0 - 0 -

TOTAL 9 58,775 0 - 13 -31%

Dwt Tankers Units Average Dwt Ordered Units %m-o-m Units %y-o-y

less than 10,000 Small 0 - 0 - 0 -

10,000-34,999 Handy 0 - 0 - 0 -

35,000-54,999 MR/Handymax 0 - 0 - 4 -100%

55,000-79,999 LR1-Panamax 0 - 0 - 0 -

80,000-119,999 LR2-Aframax 1 115,000 0 - 4 -75%

120,000-160,000 Suezmax 2 145,072 0 - 0 -

161,000-320,000 VLCC 4 313,500 0 - 2 100%

TOTAL 7 221,768 0 - 10 -100%

LNG Tankers Units Average Cbm Ordered Units %m-o-m Units %y-o-y

Small 0 - 0 - 0 -

Very Large 0 - 2 -100% 2 -100%

TOTAL 0 - 2 -100% 2 -100%

Cbm LPG Tankers Units Average Cbm Ordered Units %m-o-m Units %y-o-y

1,000-11,999 Small 0 - 0 - 1 -100%

12,000-19,999 Handy 0 - 0 - 0 -

20,000-49,999 Medium-MGC 0 - 0 - 0 -

50,000-69,999 Large-LGC 0 - 0 - 0 -

>=70,000 Very Lagre-VLGC 0 - 0 - 5 -100%

TOTAL 0 - 0 - 6 -100%

TEU Containers Units Average TEU Ordered Units %m-o-m Units %y-o-y

0-999 Feeder / Feedermax 0 - 0 - 0 -

1,000-1,999 Handy 2 1,800 0 - 2 0%

2,000-2,999 Sub-Panamax 0 - 0 - 1 -100%

3,000-4,999 Small Panamax 0 - 0 - 0 -

5,000-7,999 Large Panamax 0 - 0 - 0 -

8,000-10,000 Post Panamax 0 - 0 - 1 -100%

>10,000 Post Panamax 0 - 0 - 0 -

TOTAL 2 1,800 0 - 4 -50%

February 2015 Previous Month Previous Year

Page 7: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 5 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING MARKET -Overview of Ordering Activity

Top Shipbuilding Countries

m-o-m y-o-y

26% -30%

-52% -81%

86% -61%26S. Korea 6614

Builder Country

73 58 104

February 2015 Previous Month February 2014

China

57Japan 11 23

China 73 New Orders 56%

Average Dwt Ordered: 42,820

Total Dwt Ordered: 1,113,325

Japan 11 New Orders 8%

Average Dwt Ordered: 108,751

Total Dwt Ordered: 543,753

S. Korea 26 New Orders 20%

Average Dwt Ordered: 147,252

Total Dwt Ordered: 1,914,272

share to the total Ordering Activity

share to the total Ordering Activity

share to the total Ordering Activity

China; 56%

Japan; 8%

Korea; 20%

Other; 16%

FEB 2015: ORDERING ACTIVITY PER BUILDER COUNTRY

BC; 42%

TNK; 8%

LNG; 3%

LPG; 18%

CONT; 15%

OTHER; 29%

FEB 2015: ORDERING ACTIVITY -CHINA

BC; 55%

TNK; 18%

OTHER; 27%

FEB 2015: ORDERING ACTIVITY -JAPAN

TNK; 81%

LNG; 8%

LPG; 4% CONT; 8%

FEB 2015: ORDERING ACTIVITY -S. KOREA

Page 8: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 6 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING MARKET -Overview of Ordering Activity

Top Shipbuilding Countries Per Vessel Type (Overall)

Per Vessel Type

Units Average Dwt Ordered

Bulk Carriers 37 49,135 118% m-o-m -66% y-o-y

China 31 51,896 210% m-o-m -55% y-o-y

Japan 6 36,251 -14% m-o-m -74% y-o-y

Korea 0 - - m-o-m -100% y-o-y

Units Average Dwt Ordered

Tankers 29 173,432 142% m-o-m -52% y-o-y

China 6 107,360 0% m-o-m 100% y-o-y

Japan 2 217,500 - m-o-m -90% y-o-y

Korea 21 185,664 - m-o-m -38% y-o-y

Units Average Cbm Ordered

LNG Tankers 4 124,800 -69% m-o-m -75% y-o-y

China 2 20,400 -33% m-o-m 100% y-o-y

Japan 0 - -100% m-o-m -100% y-o-y

Korea 2 173,700 -71% m-o-m -33% y-o-y

Units Average Cbm Ordered

LPG Tankers 3 32,750 200% m-o-m -88% y-o-y

China 2 20,000 - m-o-m -71% y-o-y

Japan 0 - -100% m-o-m -100% y-o-y

Korea 1 38,000 - m-o-m -94% y-o-y

Units Average TEU Ordered

Containers 13 2,150 -54% m-o-m -7% y-o-y

China 11 2,267 38% m-o-m 267% y-o-y

Japan 0 - -100% m-o-m -100% y-o-y

Korea 2 1,800 -71% m-o-m -71% y-o-y

% change volume of activity

% change volume of activity

% change volume of activity

% change volume of activity

% change volume of activity

Overall

Page 9: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 7 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING MARKET Top Shipbuilding Countries

Ordering Activity (No of Units Ordered, Dwt, TEU, Cbm)

China 56% share to the total Ordering Activity

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

Bulk Carriers 31 726,545 - - 10 210% 69 -55%

Tankers 6 322,080 - - 6 0% 3 100%

Gas Tankers-LNG 2 20,400 - 27,000 3 -33% 1 100%

Gas Tankers-LPG 2 20,000 - 27,500 0 - 7 -71%

General Cargo/MPP 0 - - - 3 -100% 8 -100%

Containers 11 - 6,800 - 8 38% 3 267%

Reefers 2 6,000 - - 0 - 0 -

Passenger/Cruise 0 - - - 0 - 0 -

Ro-Ro 0 - - - 0 - 0 -

Car Carrier 0 - - - 0 - 0 -

Combined 0 - - - 0 - 0 -

Special Projects 19 18,300 - - 28 -32% 13 46%

TOTAL 73 1,113,325 6,800 54,500 58 26% 104 -30%

Japan 8% share to the total Ordering Activity

Vessel Type Units Dwt TEU Cbm Units %m-o-m Units %y-o-yBulk Carriers 6 108,753 - - 7 -14% 23 -74%

Tankers 2 435,000 - - 0 - 20 -90%

Gas Tankers-LNG 0 - - - 2 -100% 2 -100%

Gas Tankers-LPG 0 - - - 1 -100% 2 -100%

General Cargo/MPP 0 - - - 0 - 4 -100%

Containers 0 - - - 13 -100% 1 -100%

Reefers 0 - - - 0 - 0 -

Passenger/Cruise 0 - - - 0 - 0 -

Ro-Ro 3 - - - 0 - 1 200%

Car Carrier 0 - - - 0 - 0 -

Combined 0 - - - 0 - 0 -

Special Projects 0 - - - 0 - 4 -100%

TOTAL 11 543,753 0 0 23 -52% 57 -81%

South Korea 20% share to the total Ordering Activity

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

Bulk Carriers 0 - - - 0 - 3 -100%

Tankers 21 1,670,972 - - 0 - 34 -38%

Gas Tankers-LNG 2 193,000 - 347,400 7 -71% 3 -33%

Gas Tankers-LPG 1 28,500 - 38,000 0 - 16 -94%

General Cargo/MPP 0 - - - 0 - 0 -

Containers 2 21,800 1,800 - 7 -71% 7 -71%

Reefers 0 - - - 0 - 0 -

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

Ro-Ro 0 - - - 0 - 0 -

Car Carrier 0 - - - 0 - 0 -

Combined 0 - - - 0 - 0 -

Special Projects 0 - - - 0 - 1 -100%

TOTAL 26 1,914,272 1,800 385,400 14 86% 66 -61%

Previous Month Previous Year

Previous Month Previous Year

Previous Month Previous Year

Page 10: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 8 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING TRENDS

Top Shipbuilding Countries Ordering Activity

Per Vessel Size for Main Segments

Bulk Carriers

Per Vessel Size

Dwt Bulk Carriers Units China Japan Korea China Japan Korea China Japan Korea

10,000-29,999 Handy 0 0 0 0 0 1 0 - -100% -

30,000-39,000 Handysize 12 6 6 0 10 7 0 -40% -14% -

40,000-49,999 Handymax 5 5 0 0 0 0 0 - - -

50,000-59,999 Supramax 2 2 0 0 2 3 0 0% -100% -

60,000-67,000 Ultramax 6 6 0 0 35 4 0 -83% -100% -

70,000-78,999 Panamax 0 0 0 0 2 3 0 -100% -100% -

79,000-87,000 Kamsarmax 9 9 0 0 10 4 0 -10% -100% -

90,000-99,999 Post Panamax 0 0 0 0 0 0 0 - - -

100,000-119,999 Min Cape 0 0 0 0 0 0 0 - - -

120,000-219,999 Capesize 0 0 0 0 9 1 1 -100% -100% -100%

>=220,000 VLOC 0 0 0 0 1 0 2 -100% - -100%

TOTAL 34 28 6 0 69 23 3 -59% -74% -100%

Per Vessel Size

Dwt Bulk Carriers Units China Japan Korea China Japan Korea China Japan Korea

10,000-29,999 Handy 0 0 0 0 0 0 0 - - -

30,000-39,000 Handysize 4 4 0 0 0 0 0 - - -

40,000-49,999 Handymax 0 0 0 0 0 0 0 - - -

50,000-59,999 Supramax 0 0 0 0 0 0 0 - - -

60,000-67,000 Ultramax 0 0 0 0 4 0 0 -100% - -

70,000-78,999 Panamax 0 0 0 0 0 0 0 - - -

79,000-87,000 Kamsarmax 5 5 0 0 0 1 0 - -100% -

90,000-99,999 Post Panamax 0 0 0 0 0 0 0 - - -

100,000-119,999 Min Cape 0 0 0 0 0 0 0 - - -

120,000-219,999 Capesize 0 0 0 0 7 1 0 -100% -100% -

>=220,000 VLOC 0 0 0 0 0 0 0 - - -

TOTAL 9 9 0 0 11 2 0 -18% -100% -

GREEK PRESENCE

February 2015-New Orders Previous Year %y-o-y

February 2015-New Orders Previous Year %y-o-y

Page 11: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 9 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING TRENDS

Top Shipbuilding Countries Ordering Activity

Per Vessel Size for Main Segments

Tankers

Per Vessel Size

Dwt Tankers Units China Japan Korea China Japan Korea China Japan Korea

less than 10,000 Small 2 2 0 0 0 0 0 - - -

10,000-34,999 Handy 0 0 0 0 0 11 0 - -100% -

35,000-54,999 MR/Handymax 0 0 0 0 0 2 14 - -100% -100%

55,000-79,999 LR1-Panamax 4 0 0 4 0 0 9 - - -56%

80,000-119,999 LR2-Aframax 3 0 1 2 0 7 2 - -86% 0%

120,000-160,000 Suezmax 7 0 0 7 0 0 0 - - -

161,000-320,000 VLCC 13 4 1 8 3 0 9 33% - -11%

TOTAL 29 6 2 21 3 20 34 100% -90% -38%

Per Vessel Size

Dwt Tankers Units China Japan Korea China Japan Korea China Japan Korea

less than 10,000 Small 0 0 0 0 0 0 0 - - -

10,000-34,999 Handy 0 0 0 0 0 0 0 - - -

35,000-54,999 MR/Handymax 0 0 0 0 0 0 4 - - -100%

55,000-79,999 LR1-Panamax 0 0 0 0 0 0 0 - - -

80,000-119,999 LR2-Aframax 1 0 1 0 0 2 2 - -50% -100%

120,000-160,000 Suezmax 2 0 0 2 0 0 0 - - -

161,000-320,000 VLCC 4 0 0 4 0 0 2 - - 100%

TOTAL 7 0 1 6 0 2 8 - -50% -25%

February 2015-New Orders Previous Year %y-o-y

GREEK PRESENCE

February 2015-New Orders Previous Year %y-o-y

LNG Tankers

Per Vessel Size

LNG Tankers Units China Japan Korea China Japan Korea China Japan Korea

Small 0 0 0 0 0 0 0 - - -

Medium 2 2 0 0 0 0 0 - - -

Very Large 2 0 0 2 0 2 2 - -100% 0%

TOTAL 4 2 0 2 0 2 2 - -100% 0%

Per Vessel Size

LNG Tankers Units China Japan Korea China Japan Korea China Japan Korea

Small 0 0 0 0 0 0 0 - - -

Very Large 0 0 0 0 0 0 2 - - -100%

TOTAL 0 0 0 0 0 0 2 - - -100%

GREEK PRESENCE

February 2015-New Orders Previous Year %y-o-y

February 2015-New Orders Previous Year %y-o-y

Page 12: Monthly Newbuilding Market Report · preparation of this report, no representation or warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness

GOLDEN DESTINY established since 1994

SALE& PURRCHASE-MARINE INSURANCE-SHIP VALUATIONS-MARKET RESEARCH FEBRUARY 2015

Page 10 MONTHLY NEWBUILDING MARKET REPORT

NEWBUILDING TRENDS

Top Shipbuilding Countries Ordering Activity

Per Vessel Size for Main Segments

LPG Tankers

Per Vessel Size

Cbm LPG Tankers Units China Japan Korea China Japan Korea China Japan Korea

1,000-11,999 Small 0 0 0 0 0 2 0 - -100% -

12,000-19,999 Handy 0 0 0 0 0 0 0 - - -

20,000-49,999 Medium-MGC 3 2 0 1 0 0 0 - - -

50,000-69,999 Large-LGC 0 0 0 0 0 0 0 - - -

>=70,000 Very Lagre-VLGC 0 0 0 0 7 0 16 -100% - -100%

TOTAL 3 2 0 1 7 2 16 -71% -100% -94%

Per Vessel Size

Cbm LPG Tankers Units China Japan Korea China Japan Korea China Japan Korea

1,000-11,999 Small 0 0 0 0 0 1 0 - -100% -

12,000-19,999 Handy 0 0 0 0 0 0 0 - - -

20,000-49,999 Medium-MGC 0 0 0 0 0 0 0 - - -

50,000-69,999 Large-LGC 0 0 0 0 0 0 0 - - -

>=70,000 Very Lagre-VLGC 0 0 0 0 0 0 5 - - -100%

TOTAL 0 0 0 0 0 1 5 - -100% -100%

GREEK PRESENCE

February 2015-New Orders Previous Year %y-o-y

February 2015-New Orders Previous Year %y-o-y

Containers

Per Vessel Size

TEU Containers Units China Japan Korea China Japan Korea China Japan Korea

0-999 Feeder / Feedermax 0 0 0 0 0 1 0 - -100% -

1,000-1,999 Handy 6 4 0 2 2 0 1 100% - 100%

2,000-2,999 Sub-Panamax 0 0 0 0 1 0 0 -100% - -

3,000-4,999 Small Panamax 7 7 0 0 0 0 0 - - -

5,000-7,999 Large Panamax 0 0 0 0 0 0 0 - - -

8,000-10,000 Post Panamax 0 0 0 0 0 0 6 - - -100%

>10,000 Post Panamax 0 0 0 0 0 0 0 - - -

TOTAL 13 11 0 2 3 1 7 267% -100% -71%

Per Vessel Size

TEU Containers Units China Japan Korea China Japan Korea China Japan Korea0-999 Feeder / Feedermax 0 0 0 0 0 0 0 - - -

1,000-1,999 Handy 2 0 0 2 2 0 0 -100% - -

2,000-2,999 Sub-Panamax 0 0 0 0 1 0 0 -100% - -

3,000-4,999 Small Panamax 0 0 0 0 0 0 0 - - -

5,000-7,999 Large Panamax 0 0 0 0 0 0 0 - - -

8,000-10,000 Post Panamax 0 0 0 0 0 0 0 - - -

>10,000 Post Panamax 0 0 0 0 0 0 0 - - -

TOTAL 2 0 0 2 3 0 0 -100% - -

February 2015-New Orders Previous Year %y-o-y

GREEK PRESENCE

February 2015-New Orders Previous Year %y-o-y