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September 24th 2021 / Week 38

THE VIEW FROM THE BRIDGE

The Capesize chartering market is still moving up and leading the way for increased dry cargo rates across all segments. The Baltic Exchange Capesize 5TC opened the week at $53,240/day and closed out the week up $8,069 settling today at $61,309/day. The Fronthaul C9 to the Far East reached $81,775/day!

Kamsarmaxes are also obtaining excellent numbers, reports of an 81,000 DWT unit obtaining $36,500/day for a trip via east coast South America with delivery in Singapore. Coal voyages from Indonesia and Australia to India are seeing $38,250/day levels and an 81,000 DWT vessel achieved $34,000/day for 4-6 months T/C.

A 63,000 DWT Ultramax open Southeast Asia fixed 5-7 months in the low $40,000/day levels while a 56,000 DWT supramax fixed a trip from Turkey to West Africa at $52,000/day. An Ultramax fixed from the US Gulf to the far east in the low $50,000/day.

The Handysize index BHSI rose all week and finished at a new yearly high of 1925 points. A 37,000 DWT handy fixed a trip from East coast South America with alumina to Norway for $37,000/day plus a 28,000 DWT handy fixed from Santos to Morocco with sugar at $34,000/day.

A 35,000 DWT handy was fixed from Morocco to Bangladesh at $45,250/day and in the Mediterranean a 37,000 DWT handy booked a trip from Turkey to the US Gulf with an intended cargo of steels at $41,000/day.

The tanker chartering market finally is stirring and there has been some upward movement in charter rates. VLCC charter rates over the past 18 months have been at negative and positive levels, but all below operating expenses and now we are seeing some hopeful numbers.

Tanker S&P also seems to be having an increased number of sales in anticipation of the higher rates (and higher prices).

Have a good weekend.

TANKERS TANKER SALES REPORTED THIS WEEK Price Vessel Name DWT Year Built Engine Additional Info Buyer ($ Mill.) KHK VISION 305,749 2007 Daewoo Man B&W 42,216 ldt $32.5 China

ANGEL NO. 5 46,829 2009 Jinling Man B&W Epoxy coated/coiled $11.8 China IMO II/III; StSt FSL LONDON 19,966 2006 Usuki Man B&W $10.2 Indonesia coated/coiled IMO II; Epoxy OCEAN GULL 9,551 2012 Nanjing MaK $3.0 Undisclosed coated/coiled

COMPASS MARITIME TANKER VALUES

NB PROMPT ASSET CLASS NB CONTRACT 5 YEAR 10 YEAR 20 YEAR DELIVERY

SIZE TANKERS (All Numbers in US $ Millions) (DWT)

VLCC 300,000 90 95 70 47 25

SUEZMAX 160,000 60 65 45 32 15

AFRAMAX 115,000 50 53 40 25 15 PANAMAX - 70,000 40 42 32 22 10 LR1 MR TANKER 51,000 35 37 27 18 8

BULK CARRIERS BULK CARRIERS SALES REPORTED THIS WEEK Additional Price Name DWT Year Built Engine H/H GEAR Buyer Info ($ Mill.) PROSPEROUS 179,100 2011 Sungdong Man B&W 9/9 BWTS fitted $31.0 Turkey TSUNEISHI CEBU $36.5 83,000 2022 Tsuneishi Man B&W 7/7 Undisclosed SC389/390 enbloc PEAK PEGASUS 82,026 2013 Tsuneishi Man B&W 7/7 BWTS fitted $27.0+ Greece

PEAK LIBERTY 81,837 2015 Tsuneishi Man B&W 7/7 BWTS fitted $28.5 Greece

SEA VISION 77,154 2015 Imabari Man B&W 7/7 $29.0 Undisclosed

MAHAVIR 74,005 2000 Imabari B&W 7/7 $11.9 US

TRANS OCEANIC 58,168 2012 Tsuneishi Man B&W 5/5 4x30tc BWTS fitted $23.0 Bangladesh

GREAT AMITY 56,050 2004 Mitsui Man B&W 5/5 4x30.5tc $14.0 China

INGENIOUS 55,648 2011 Hyundai Man B&W 5/5 4x30tc BWTS fitted $17.8 Undisclosed

KAIWO MARU 50,433 2011 Oshima Man B&W 5/5 4x30tc $19.10 Undisclosed

CIELO DI GASPESIE 37,064 2012 Hyundai Man B&W 5/5 4x30tc BWTS fitted $19.0 Undisclosed

HAMBURG PEARL 35,921 2011 Hyundai Man B&W 5/5 4x35tc BWTS fitted High $18’s Undisclosed 34,025/ SFL TRENT/SFL KENT $100.0 SFL SPEY/SFL MEDWAY 33,985/ 2012 Jiangsu Man B&W 5/5 4x30tc China enbloc SFL TYNE/DEE/CLYDE 31,900

COMPASS MARITIME BULK CARRIER VALUES

NB PROMPT ASSET CLASS NB CONTRACT 5 YEAR 10 YEAR 20 YEAR DELIVERY

BULK SIZE (DWT) (All Numbers in US $ Millions)

CAPE 180,000 54 55 44 33 12

KAMSARMAX 82,000 35 36 31 23 10

SUPRAMAX 56,000 34 35 27 19 10

HANDY 38,000 28 28 23 16 10

NEWBUILDINGS

NEWBUILDING ACTIVITY REPORTED THIS WEEK

No. Size Type Yard Delivery Price (mill) Owners Comments

NEWBUILDING STATISTICS - TANKERS NEWBUILDING STATISTICS - BULKERS

ASSET CLASS 2021 2022 2023 TOTAL ASSET CLASS 2021 2022 2023 TOTAL VLCC CAPESIZE 9 43 25 77 34 44 27 105 (200k+ dwt) (100k+ dwt) SUEZMAX PAN/KAM 4 34 10 48 45 78 50 173 (125k-199k dwt) (65k-99k dwt)

AFRAMAX SUPRAMAX 27 42 22 91 63 110 22 195 (85k-125k dwt) (40k-64k dwt)

PANAMAX HANDYSIZE 2 1 0 3 66 65 21 152 (55k-85k dwt) (10k – 39k dwt) HANDY TANKER 93 83 48 224 (10k-55k dwt)

CHARTERING MARKET SNAPSHOT

TANKERS BULKERS

BALTIC EXCHANGE TANKER FREIGHT INDICES BALTIC EXCHANGE BULKER FREIGHT INDICES

CURRENT CURRENT WEEK LAST WEEK LAST YEAR WEEK LAST WEEK LAST YEAR BDTI 614 608 434 BDI 4644 4275 1667 BCTI 489 480 388 BCI 7393 6420 2915 BPI 4012 3904 1380 BSI 3359 3307 992 TANKER 12 MONTHS T/C RATES CURRENT LAST WEEK DWT WEEK BULKER 12 MONTHS T/C RATES CURRENT 300,000 20,000 19,000 LAST WEEK VLCC DWT WEEK Suezmax 150,000 15,500 17,000 CAPE 180,000 30,000 27,500

Aframax 110,000 15,000 15,000 PANAMAX 75,000 27,000 28,000 LR1 80,000 12,500 12,000 SUPRAMAX 52,000 29,000 29,000 MR 47,000 10,500 11,750

RECYCLING ACTIVITY REPORTED THIS WEEK Pakistan PRICE/ LDT NAME DWT YEAR LDT ADDITIONAL INFORMATION (USD) MT Gema 19,813 2001 7,517 $616

India NAME DWT YEAR LDT ADDITIONAL INFORMATION PRICE/LDT No sales to report

Bangladesh NAME DWT YEAR LDT ADDITIONAL INFORMATION PRICE/ LDT No sales to report

Misc. NAME DWT YEAR LDT ADDITIONAL INFORMATION PRICE/ LDT No sales to report

RECYCLING STATISTICS

ASSET CLASS THIS DATE 2021 THIS DATE 2020 2020 TOTAL 2019 TOTAL ULCC/VLCC 17 0 3 9 SUEZMAX 7 2 3 8 AFRAMAX 26 6 10 5 PANAMAX TANKER 4 5 5 6 CAPE/COMBO (80K DWT +) 12 40 54 32 PANAMAX BULKER 9 8 13 8 POST PANAMAX BULKER 1 3 3 0 BALTIC SHIP RECYCLING PRICES (US $ / LDT)

TANKERS TANKERS TANKERS BULK CARRIERS BULK CARRIERS BULK CARRIERS LOCATION 30,000 LDT & above 15-30,000 LDT 7-15,000 LDT 20,000 LDT & above 9-20,000 LDT 5-9,000 LDT BANGLADESH 596.71 601.17 599.25 590.42 592.58 590.42 INDIA 582.00 586.58 587.83 579.58 583.33 585.83 PAKISTAN 596.00 603.17 600.38 589.50 591.58 587.83

UPCOMING BEACHING TIDES LOCATION INDIA October 4, 2021 – October 12, 2021 October 19, 2021 – October 25, 2021 BANGLADESH October 5, 2021 – October 8, 2021 October 19, 2021 – October 22, 2021

MISCELLANEOUS VESSELS

CONTAINERSHIPS SALES REPORTED THIS WEEK Price Vessel Name DWT Year Built TEU Engine GEAR Additional Info Buyer ($ Mill) CAPE CHRONOS 79,294 2015 HHIC 6,865 Man B&W $132.0 Singapore ACACIA REI 23,327 2010 Guangzhoue 1,740 Man B&W 2x40cr $32.5 China

, TWEENDECKERS/ MPC/ Ro-Ro/ MISCELLANEOUS VESSELS Additional Price Vessel Name DWT Year Built TEU Engine H/H GEAR Buyer Info ($ Mill)

BUNKER PRICES

BUNKER PRICES (US$/ton) ROTTERDAM FUJAIRAH SINGAPORE 380CST 432.5 486.5 485.0 180CST N/A 350.0 N/A MGO 630.5 674.5 627.0

Compass Maritime Services, LLC is Member of:

The Association of Ship Brokers & Agents (USA) Inc. (ASBA), The Baltic Exchange

Panel Member of The Baltic Exchange Sale & Purchase Assessment (BSPA Index) The Baltic Ship Recycling Assessment (BSRA Index)

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