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DRY BULK WEEKLY WEEK 25 | Monday, 28 June 2021

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DRY BULK WEEKLY WEEK 25 | Monday, 28 June 2021 DRY BULK WEEKLY WEEK 25 | Monday, 28 June 2021 Weeks Count of Ships Sold Count of Vessel Units LATEST COMMODITY NEWS Week S&P Transactions Demolition Sales Newbuilding Orders 25 16 Iron Ore 24 28 1 5 AUSTRALIA'S DARWIN PORT SHIPS ITS 23 15 6 SHIPMENT OF IRON ORE SINCE 2015. VALE MAY EXPORTS UP 15% Y-O-Y 22 32 1 Total 91 1 12 Coal CHINA EXPECTS COAL SUPPLY CRUNCH Top 5 Destination Countries of Ships in Ballast by Vessel Size TO EASE IN JULY AS INDIA'S COAL (Week 26 Arrivals) IMPORTS UP 30% M-O-M IN MAY Size Group Capesize Handysize Panamax Supramax Grains EU SOFT WHEAT PRODUCTION FORECAST REVISED DOWNWARDS UKRAINE EXPORTS 22.3 MILLION TONNES OF CORN, TOTAL GRAIN EXPORTS DOWN 22% US SOYBEAN PLANTING 97% COMPLETE AS SOYBEAN OIL FUTURES REMAIN VOLATILE © 2021 TomTomTom,om, ©© 20212021 MicrosoftMicrosoft CorporationCorporation CONTENTS 6M TC Hire Rate Average Size CAPESIZE PANAMAX Bulkcarrier Freight Market 40K Sale & Purchase Market Demolition Market Shipbuilding Market 30K Port Activity and Bunkers Vessel Tracking 20K Commodities Markets Weekly Commodity Updates Broker's Meeting Point - Available Cargoes 10K Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021 / Sale & Purchase Market Latest Transactions Week Ships Sold Built DWT Reported Country/ Region Owner Notes Price (US$) of Buyer 25 CAPE LEGACY 2011 180,161 $27,000,000 FLEET MANAGEMENT EUROPE 25 LOWLANDS TENACITY 2011 179,929 $28,000,000 Greeks COBELFRET GROUP 25 KING SAIL 2002 177,643 $12,000,000 China JIN FAN INTERNATIONAL COMPANY LIMITED 25 OCEAN CLARION 2009 177,000 $23,000,000 Greece NYK LINE 25 NANAKURA 2003 91,439 $12,000,000 NYK LINE 25 AMBER CHAMPION 2013 63,800 $20,000,000 Greece GOLDWIN SHIPPING 25 VIALLI 2015 63,500 $22,000,000 25 WHITE HAWK 2012 61,360 $21,000,000 Greece TRITON NAVIGATION 25 STAR PATHFINDER 2015 61,298 $23,000,000 Norway G2 OCEAN 25 INTERLINK ACUITY 2011 37,152 $13,000,000 Greece MID ATLANTIC BULK CARRIERS 25 WESTERN AIDA 2012 37,000 $12,500,000 Germany WESTLAKE 25 HAMBURG PEARL 2011 35,921 $14,000,000 SMT SHIPPING 25 HOUSTON PEARL 2011 35,914 $14,000,000 SMT SHIPPING 25 JIA TAI 2011 35,112 $9,000,000 Europe HUAYANG HONG KONG SHIPPING 25 MALEN 2011 34,600 $12,000,000 25 ORIENT ADVENTURE 2011 33,755 $10,000,000 Greece NORDEN Buying appetite has fell back down to only 16 deals closed Reported Ship Sales by Age and Size (Week 24) the past week. Most of the interest was focused on the smaller Handysize and Ultramax segments, however there Age Group 10-15 years 15-20 years 5-10 years was some activity for Capesize and Post Panamax ships. s The small-class vessels sold were a total of 11 with 7 p i Handysize and 4 Ultramax, while there were 4 sales h S 5 recorded for Capesize vessels and 1 Post Panamax ship. As f o to the age range, the most demanded was again 5-10 years t n old with 11 transactions. However, the Post Panamax u o NANAKURA and the Capesize KING SAIL were both C built 15-20 years ago. 0 Interest on small-class vessels continues while the recent Handysize Ultramax Post Panamax Capesize jump in Capesize rates brought back attention to the second-hand ships in this segment. However, the activity in Weekly Volume of Sales Annual Volume of Sales the S&P market weakened after Week 24 when almost Size 23 24 25 Total Size Group 2019 2020 2021 double the transactions were reported. Handysize 1 8 7 16 Handysize 119 128 108 Sale of the week: The Hong Kong based Jin Fan Ultramax 1 7 4 12 Supramax 125 125 109 Panamax 4 6 10 Panamax 86 56 54 International Company Limited sold the 2002-built KING Supramax 4 3 7 Kamsarmax 35 52 56 SAIL to Chinese buyers for US$12 M. KING SAIL is a Capesize 1 1 4 6 Ultramax 44 46 58 capesize vessel sailing under the flag of Panama. Built by Kamsarmax 3 1 4 Capesize 25 53 45 Japanese Mitsui E&S Shipbuilding Co., Ltd., the vessel has Post Panamax 1 1 2 Handymax 26 12 5 Handymax 1 1 Post Panamax 15 9 15 a carrying capacity of 177,643 DWT. Her length overall Total 14 28 16 58 VLBC 8 19 7 (LOA) is 289 meters, and her width is 45 meters. Total 482 500 456 / Demolition Market Latest Transactions Week Vessel Vessel Age Location of Delivery USD / LDT LDT (MT) Sale Price Demolition Prices for Bulkcarriers- Week Activities in the demolition market in the past week were rather slow, with no deal Average (USD/LDT) for bulkcarriers reported. This is however expected as the monsoon season brings with it a lull in shipbreaking activities in the beaches of South Asian subcontinent. Market PLVw LVw CVw WoW%w Market Wk 23 Wk 24 Wk 25 WoW% The subcontinent is still grappling with the new wave of the coronavirus pandemic. Whilst India is on a recovery part, Bangladesh is tightening restrictions Bangladesh 560 565 566 0.2% which has been in place since May for another 7 days. This restriction would limit operations of shipbreakers as workers return to their villages in droves. Pakistan India 515 523 526 0.6% has seen better days nonetheless a weaking Rupee has severed limited the participation of Gaddani shipbreakers in the past week. Pakistan 554 560 568 1.4% LDT rates have hit new heights in the past week Pakistan rates were up 1.4% to Turkey 280 280 280 0.0% USD568/LDT pulling ahead of fierce competition from Bangladesh where rates were USD566/LDT up 0.2% from the previous week. Pakistan prices have gained momentum as scrap remains highly sought after by steel mills. Chittagong cash buyers are however expected to be active in the coming weeks with a flurry of inquiries arising originating from them. LDT rates in India remains elevated at USD526/LDT an increase of 0.6% with scarp demand still in recovery mode. Demolition Activity in the Last 3 Months Demolition Age (years) of Vessels in 2021(%) 60K 23 24 26 29 ) T 40K M ( 14% 3-month Average T D 21% 25 L Over 30 7% 7% 20K 21 Le… 10% 27 3% 28 0K May 2021 Jun 2021 21% 10% 3% 3% Location of Delivery - No. Vessels 2021 Demolition Prices (US$/LDT) Other 2 600 3 Year HIgh ) Pakistan T D 500 Market 4 L / D Bangladesh S U ( 400 India e u l a Pakistan V Bangladesh 300 19 2018 2019 2020 2021 / Shipbuilding Market Latest Orders Week Size Units Delivery Buyer Shipbuilder Newbuilding Market Price by Size (Week 25) Year Average of HP Average of UP Average of PP Average of KP Average of CP Year Handysize Ultramax Panamax Kamsarmax Capesize 2021 $26,000,000 $28,000,000 $29,000,000 $32,000,000 $57,000,000 2020 $24,000,000 $28,000,000 $29,000,000 $30,000,000 $48,000,000 2019 $26,000,000 $31,000,000 $32,000,000 $33,000,000 $51,000,000 Delivery Year by Size Units Ordered by Year and Size Group Size Group 2021/2022 2022 2022/2023 2023 2024 Total 300 Size Group Kamsarmax 35 15 31 81 3-year Average Capesize Handysize 9 44 5 3 1 62 Handymax VLBC 23 2 30 55 200 Handysize Ultramax 3 42 9 54 Kamsarmax Supramax 12 7 19 Panamax Capesize 4 14 18 100 Handymax 4 3 1 8 Post Panamax Post Panamax 3 4 7 Supramax Panamax 4 4 Ultramax Total 16 170 22 99 1 308 0 2018 2020 VLBC Orders by Country of Buyer - 2021 While there have been no newbuild deals reported this week, China’s ship yards have maxed out capacity with majority fully engaged till 2023. Ship building yards in the country have seen capacity reduce as China the Chinese government have repurposed them for building of the Japan country’s naval fleet. UK Size Group Capesize Shipowners would therefore have to look further out in the far east to Singapore book slots for newbuilds. Japan is waiting in the wings with a couple Greece Handymax of drybulk carriers already ordered from Japan in recent weeks. Handysize Additionally with Japanese government's finacial aid backing to the S. Korea country's stircken shipbuilders, the perfect timing for Japan's Bangladesh Kamsarmax shipyards to become major players in the shipbuilding could be here once again. Indonesia Panamax Spain Supramax Meanwhile the IMO decarbonisation goal has come under scrutiny as Taiwan the delivery of the gas powered Fure Viten which achieved an EEDI Ultramax score of 4.65 meeting the targets 28 years early put pressure on policy Turkey VLBC makers to bring forward the IMO 2050 targets. Despite the latest win Hong Kong for decarbonisation of shipping, question however remains over investment on the infrastructure need to support shipping’s transition 0 20 40 to sustainable fuels. Units / Weekly Commodity Update IRON ORE AUSTRALIA'S DARWIN PORT SHIPS ITS SHIPMENT OF IRON ORE SINCE 2015. VALE MAY EXPORTS UP 15% Y-O-Y A shipment of Iron ore would leave Australia’s Northern Territory Port of Darwin this week as Miners across the country push to take advantage of high iron ore prices. Australian mining firm NT Bullion plans to ship around 30,000t of lump from Darwin this week. It owns the 2mn-3mn t/yr Frances Creek mine in the NT and while mining has restarted, most of this shipment is from stocks left from the last operator of the mine.
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