September 23rd, 2016 / Week 38
THE VIEW FROM THE BRIDGE
Full report can be viewed on the Market Reports tab at the following link: www.compassmar.com
The Hanjin Shipping fallout started last week when the Cape bulker M/V "HANJIN
MATSUYAMA" (179,166 DWT/Built 2011 at Sungdong in Korea) was sold for $22.75 mill. by
Kumiai Senpaku Shipping in Japan. Their long period time charter to Hanjin (at $25,000/day
levels) had been cancelled earlier this year and the Japanese owner decided to take the loss
(reportedly ordered for region $56 mill. levels).
There has been a decent amount of S&P activity level in the Cape bulker market in the past few
weeks and charter rates topped out at $21,000/day this week on TCT Cont/Far East which is the
high for 2016. There are various rumors about the buyers identity of the M/V "E.R. BOSTON" /
"E.R. BAYERN" / "E.R. BAVARIA" (180,000 DWT/Built Hyundai 2010) which reportedly
obtained $21 mill. each.
A resale Caper from SWS in China reportedly has seen $33 mill. levels.
The M/V "OCEAN CRESCENT" (175,000 DWT/Built 2007 at SWS) was offered for sale this
week from Japanese sellers and offers are due today for the M/V "VOGE MASTER" (175,000
DWT/Built 2006 at SWS). Probably the most interesting candidate (only two years old!) is the
M/V "SAMPAGUITA DREAM" (180,694 DWT/Built 2014 at Tsuneishi CEBU Philippines)
which is also for sale from Japanese owners.
Have a good weekend.
TANKERS
TANKER SALES REPORTED THIS WEEK
Vessel Name
DWT
Year
Built
Engine
Additional Info
Price
($ Mill.)
Buyer
LION CITY RIVER
105,865
2007
Namura
Man B&W
Coiled
$20.5
UK
NORD OBSERVER
47,344
2007
Onomichi
Man B&W
Coated/Coiled
$14.7
Greek
Man B&W
IMO III
$19 each
Undisclosed
B&W
IMO III
$12.8
Middle East
$15.5
Nigeria
$21.5
Denmark
BLS LIWA
BLS RUWAIS
47,128
2008
Hyundai
Mipo
TOREA
37,069
2004
Shina
ARDMORE CENTURION
29,006
2005
STX
B&W
IMO II, 14 Pumps
7,844 ldt
MID FORTUNE
19,945
2009
Fukuoka
Man B&W
St.Steel, 18 Grades
COMPASS MARITIME TANKER VALUES
ASSET CLASS
TANKERS
VLCC
SUEZMAX
AFRAMAX
PANAMAX - LR1
MR TANKER
NB CONTRACT
SIZE
(DWT)
300,000
160,000
110,000
70,000
51,000
NB PROMPT
DELIVERY
5 YEAR
10 YEAR
20 YEAR
(All Numbers in US $ Millions)
85
55
45
39
32
85
57
47
43
33
61
44
32
30
23
40
31
21
20
15
18
11
7.5
6.5
5
BULK CARRIERS
BULK CARRIERS SALES REPORTED THIS WEEK
Price
($ Mill.)
Buyer
$3.2
China
4 X 30 c
$7.5
Undisclosed
5/5
4 X 30 c
$4.6
China
Man B&W
5/5
4 X 30.5
$4.85
Undisclosed
Mitsubishi
4/4
4 X 30 c
$3.1
Undisclosed
Vessel Name
DWT
Year
Built
Engine
H/H
SAMJOHN AMITY
74,744
1998
NKK
Sulzer
7/7
VANTAGE CREST
46,412
2006
Oshima
Man B&W
5/5
VIRGINIA
50,175
2001
Mitui
Man B&W
VEREINA
27,112
2008
Argentina
LONG BEACH
23,641
2000
Kanda
GEAR
Additional
Info
COMPASS MARITIME BULK CARRIER VALUES
ASSET CLASS
NB CONTRACT
NB PROMPT
DELIVERY
5 YEAR
10 YEAR
20 YEAR
(All Numbers in US $ Millions)
BULK
SIZE (DWT)
CAPE
170,000
41
35
24
14
6
PANAMAX
74,000
23
24
14
8.5
4
SUPRAMAX
56,000
21
20
13
8.5
3
NEWBUILDINGS
NEWBUILDING ACTIVITY REPORTED THIS WEEK
No.
Size
Type
Yard
NEWBUILDING STATISTICS - TANKERS
ASSET CLASS
2016
VLCC
(200k+ dwt)
SUEZMAX
(120k-199k dwt)
AFRAMAX
(80k-119k dwt)
PANAMAX
(60k-79k dwt)
MR TANKER
(35k-59k dwt)
0-34K DWT
2017
2018
Delivery
Price (mill)
NEWBUILDING STATISTICS - BULKERS
2019
63
42
23
2
32
64
8
0
57
68
31
1
25
30
10
0
135
84
21
12
81
64
30
5
Owners
Comments
ASSET CLASS
2016
2017
2018
2019
CAPESIZE
(100k+ dwt)
160
42
30
3
80-100K DWT
180
69
20
3
7
5
3
0
373
129
15
3
208
96
37
14
PANAMAX
(65k-79k dwt)
SUPRAMAX
(40k-64k dwt)
HANDYSIZE
(10k – 39k dwt)
CHARTERING MARKET SNAPSHOT
TANKERS
BULKERS
BALTIC EXCHANGE TANKER FREIGHT INDICES
BALTIC EXCHANGE BULKER FREIGHT INDICES
BDTI
BCTI
CURRENT
WEEK
606
380
LAST WEEK
555
386
LAST YEAR
668
680
CURRENT
WEEK
941
2,383
722
671
BDI
BCI
BPI
BSI
LAST WEEK
800
1,680
646
660
LAST YEAR
1,055
1,884
1,057
905
TANKER 12 MONTHS T/C RATES
VLCC
Suezmax
Aframax
LR2
LR1
MR
DWT
CURRENT
WEEK
LAST WEEK
300,000
30,000
28,000
150,000
21,000
21,000
CAPE
170,000
CURRENT
WEEK
9,000
110,000
17,750
17,750
5,800
5,600
18,000
17,000
13,500
18,000
17,000
13,750
PANAMAX
SUPRAMAX
75,000
105,000
80,000
47,000
52,000
6,500
6,500
BULKER 12 MONTHS T/C RATES
DWT
LAST WEEK
7,200
RECYCLING ACTIVITY REPORTED THIS WEEK
BANGLADESH – CHITTAGONG
NAME
DWT
YEAR
LDT
MV Splendour
23,593
1984
5,192
PRICE/ LDT
(USD)
ADDITIONAL INFORMATION
$273
CHINA
NAME
DWT
YEAR
LDT
ADDITIONAL INFORMATION
PRICE/LDT
NAME
DWT
YEAR
LDT
ADDITIONAL INFORMATION
PRICE/ LDT
Box Emma (Cont)
APL Turquois (cont)
APL Tourmaline (cont)
Northern Glory (cont)
Bella (cont)
Chengtu (mpp)
68,120
2003
20,180
As is Hong Kong - Guaranteed Green
$280
68,120
2003
20,180
As is Singapore - Guaranteed Green
$280
68,120
2003
21,558
As is Singapore - Guaranteed Green
$280
66,922
2000
19,730
As is Jebel Ali
$305
58,814
2002
18,814
Option Bangladesh
$315
25,661
1991
9,396
Guaranteed Green
$253
NAME
DWT
YEAR
LDT
Mohammed H (tween)
8,071
1986
2,519
No sales to report
India
PAKISTAN
ADDITIONAL INFORMATION
PRICE/ LDT
$235
MISC
ADDITIONAL INFORMATION
NAME
DWT
YEAR
LDT
ALM Dallas (cont)
HS Mozart (cont)
MV Thor Endeavour
66,565
2004
21,267
As is Kaohsiung
PRICE/ LDT
$310
58,486
2002
18,870
As is Hong Kong - 87 ton prop, 4 gens, 500 tons bunkers
$310
42,529
1995
9,016
Includes 850 tons bunkers
$308
58,260
2006
21,191
As is Shanghai, Bunkers included for voyage to India, final
destination unknown
$303
RECYCLING STATISTICS
ASSET CLASS
ULCC/VLCC
SUEZMAX
AFRAMAX
POST-PANAMAX TANKER
PANAMAX TANKER
THIS DATE 2016
2
1
7
0
4
THIS DATE 2015
3
2
2
0
5
2015 TOTAL
4
1
3
0
5
2014 TOTAL
13
8
26
2
10
CAPE/COMBO (80K DWT +)
PANAMAX BULKER
POST PANAMAX BULKER
69
89
3
68
52
4
92
96
8
45
62
4
ESTIMATED RECYCLING PRICES (US $ / LDT)
LOCATION
TANKERS 15-20,000 LDT
TANKERS 6-10,000 LDT
BULK CARRIERS
CHINA
$200
$195
$190
SUB-CONTINENT
$300
$295
$285
MISCELLANEOUS VESSELS
CONTAINERSHIPS SALES REPORTED THIS WEEK
Additional Info
Price
($ Mill)
Vessel Name
DWT
Year
Built
TEU
Engine
GEAR
SANTA LAURA
SANTA LIVIA
108,350
2006
Daewoo
8,401
Man B&W
N/A
$14.7 each
LARENTIA
38,121
2005
Blohm
(Germany)
2,702
Man B&W
N/A
$6.5
Buyer
UK
Undisclosed
TWEENDECKERS/ MPC/ Ro-Ro/ MISCELLANEOUS VESSELS
Vessel Name
DWT
Year
Built
TEU
Engine
H/H
GEAR
Additional
Info
Price
($ Mill)
Buyer
BUNKER PRICES
BUNKER PRICES (US$/ton)
ROTTERDAM
FUJAIRAH
SINGAPORE
PIRAEUS
380 CST
246.50
266.50
259.00
258.00
180CST
277.50
297.50
269.00
277.00
MGO
406.00
510.00
416.50
434.00
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