WEEKLY MARKET REPORT. October 30th, 2009 / Week 44. The market indices are quite volatile, mainly in the larger sizes (BCI/BPI) whilst the smaller segments have declined. Thus no real market direction is being offered. The BDI managed to end the week over 3000 points mainly helped by the 4.23% and 3.35% increases posted by the BCI and BPI. Another disappointing week for thesupramax and handies whose indices continued to slide. Capesize and Panamax average spot rates are quite healthy, standing at US$ 49,700 and US$ 29,700 per day respectively. Supramax rates are lagging behind somewhat standing at US$ 19,500 per day.
Although we saw no real fresh enquiries this week, activity remains high with interesting deals being made for yet another week. TMT making news again as they continue to sell bulkers, this week they sold the M/V “E DUCKLING” (53k/2006 Japan) for USD 29.5 million (same price achieved last week on their other sistership “D Duckling”.
In addition, the caper M/V “MINERAL AZALEA” was sold on a back-to-back basis for US$ 42
million which would mean that TMT are making nearly a 10% loss on the vessel which they bought for excess
US$ 46 million earlier in June. Russian buyers seem to be behind the sale of Korea Line's MV “GLOBAL
ALLIANCE” (28k/2004 Japan) which has been committed for region US$ 20.75 million.
The Chinese buyers were practically absent from this week's activity, as they are trying to absorb the recent
activity in the 1990's built tonnage (mostly in the handymax and panamax sectors). We expect the Far Eastern
buyers to continue buying mid/late 90's built tonnage hence the established market prices are expected to remain
the same for the near future.
In the tanker sector lack of activity remains with the exception of yet another single hull VLCC being sold for
conversion.
We have noted with interest the fact that China's coal imports hit an all time record high in September at 12.50
mil tonnes, more than three times as much for those during September 2008. Year-to-year coal imports have
increased almost 170% standing at 85.7 mil tonnes. At the same tine Iron Ore imports have increased 28% this
year and are set to increase by at least 12% in the next year.
WeberSeas, Weekly Market Report Page 2 of 10
No real changes in the demolition market with prices remaining stable and with a constant flow of tonnage
keeping the breakers busy.
TANKERS
“EPISKOPI” 265,316/89 - HYUNDAI - B&W 24,280 - IGS - SBT - COW - SH - SS/DD 12/2009
Sold for $ 13.5 mill. to Chinese buyers for conversion.
“BRIGHT EXPRESS” 42,235/93 - MINAMI - B&W 12,750 - COILED - COATED - IGS - SBT - COW - DH -
SS 01/2013, DD 12/2010
Sold for $8.5 mill. to Indian buyers (Mercator).
BULKERS
“MINERAL AZALEA” 171,199/99 - KOYO MIHARA - B&W 21,899 - 9HH - SS 06/2014, DD 03/2012
Sold for $42 mill. to Korean buyers.
“OCEAN LYRA” 75,656/05 - SANOYAS - SUL 12,200 - 7HH - SS/DD 10/2010
Sold for $32.5 mill. to Korean buyers.
“E DUCKLING” 53,587/06 - IMABARI - B&W 12,889 - 5HH - C 4X30T - SS/DD 01/2011
Sold for $29.5 mill. to undisclosed buyers.
“PL STAR” 53,074/03 - OSHIMA - MIT 10,931 - 5HH - C 4X30T - SS 11/2013, DD 10/2011
Sold for $25.5 mill. to Greek buyers.
“GLYFADA” 45,455/95 - TSUNEISHI - B&W 11,641 - 5HH - C 4X25T - SS/DD 07/2010
Sold for $18 mill. to Chinese buyers.
“K. GOLD” 43,797/96 - DAEWOO - B&W 11,271 - 5HH - C 4X30T - SS/DD 04/2011
Sold for excess $18 mill. to Middle Eastern buyers.
“GLOBAL ALLIANCE” 28,436/04 - IMABARI - B&W 7,954 - 5HH - C 4X30T - SS 06/2014, DD 06/2012
Sold for $20.75 mill. to Russian buyers.
“CLIPPER LANCELOT” 28,426/97 - KANASASHI - MIT 8,000 - 5HH - C 4X30T - SS/DD 05/2011
Sold for $14.25 mill. to undisclosed buyers.
“DELTA SALUS” 26,598/85 - HAKODATE - B&W 6,900 - 5HH - C 4X30T - SS/DD 03/2010
Sold for $5.3 mill. to undisclosed buyers.
MPP/TWEENDECKERS
“THOR SAILOR” 16,248/86 - SPAIN - B&W 7,525 - 5HH - C 4X12.5T - 519 TEU - SS/DD 02/2010
Sold for $2.6 mill. to Singaporean buyers.
WeberSeas, Weekly Market Report Page 3 of 10
CONTAINERS
“FREMANTLE BRIDGE” 16,567/98 - NAIKAI - B&W 16,681 - 4HO 15HA - 1,064 TEU
Sold on private terms to undisclosed buyers.
“ALDER” 9,865/00 - TURKEY - MAK 10,197 - 4HH - C 2X40T - 797 TEU
Sold for $2.5 mill. to European buyers.
REEFERS
“EW SNOWDON” 6,368/84 - SHIKOKU - B&W 8,151 - 4HH - C 4X5T - 8,847 CBM
Sold at an auction for $2.8 mill. to Chinese buyers.
FRESH FOR SALE
BULKERS
“CENTURY STAR” 77,318/03 - UNIVERSAL - B&W 13,320 - 7HH
Vessel inspectable in Qinhuangdao, China where expected around 11th-12th November.
“TORO” 73,034/95 - SAMSUNG - B&W 11,795 - 7HH
Vessel inspectable in Taichung where ETA 9th November.
“DELRAY” 71,862/94 - KURUSHIMA - MIT 10,381 - 7HH
Vessel inspectable in Port Kamsar where ETA 29th October.
“IGUANA” 70,349/96 - SANOYAS - SUL 14,841 - 7HH
Vessel currently inspectable in Rozi, India.
