February 14th 2020 / Week 7 THE VIEW FROM THE BRIDGE

GLENPOINTE CENTRE WEST, FIRST FLOOR, 500 FRANK W. BURR BOULEVARD TEANECK, NJ 07666 (201) 907-0009

June 12th 2020 / Week 24

THE VIEW FROM THE BRIDGE

Many shipping offices around the world are starting to partially re-open and there has been a slight increase in S&P activity for bulk carriers and tankers although pricing tends to be steady or declining, depending on vessel type and age.

The tanker spot charter market is still softening with VLCC's trading steadily at $50,000/day levels but all other sizes are below $20,000/day and some well below previous levels. The dry cargo chartering market has seen some slight improvement in Capes but nothing too encouraging for most other sizes.

In the past few weeks the large number of sales candidates from financially troubled Ocean Tankers (Lim Group) in Singapore have been grabbing the headlines as they start to dispose of a large number of their 50+ tanker fleet which includes 18 x VLCC's, 12 x LR 2 aframaxes, 2 x LR 1 product tankers, 6 x MR tankers, 14 x handysize tankers, plus 4 x 13,500 dwt chemical/product tankers.

Have a good weekend!

Vessel Name

RIDGEBURY PROGRESS / RIDGEBURY PURPOSE KALAMOS

SKS SINNI

SILVER SUN

ASKVIKEN

DWT

306,397 281,037 159,385 105,344 12,887

TANKERS

TANKER SALES REPORTED THIS WEEK

Year

Built

Engine Additional Info

2000

Samsung

Man B&W

42.421 ldt

2000 2003 2001

IHI Hyundai Sumitomo

Sulzer B&W Sulzer

38.578 ldt

Coated/Coiled: 23.252 ldt

Coiled; 16.138 ldt

2005

Samho

Man B&W

IMO II/III; 3.903 ldt

Price ($ Mill.)

$24.0 ea

$25.0

$20.0 $11.5

$3.5

Buyer

China China Greek Undisclosed UAE

ASSET CLASS

TANKERS VLCC

SUEZMAX AFRAMAX PANAMAX -

LR1 MR TANKER

175.00

COMPASS MARITIME TANKER VALUES

NB CONTRACT

NB PROMPT DELIVERY

5 YEAR

10 YEAR

SIZE (DWT)

(All Numbers in US $ Millions)

300,000

90

98

73

50

160,000

60

67

50

36

115,000

49

54

41

27

70,000

42

43

31

19

51,000

36

38

29

18

COMPASS MARITIME TANKER VALUES (5YRS OLD)

20 YEAR

25 13 11 8 7

125.00

75.00

25.00

-25.010-Jan-15 1-May-15 1-Sep-15 1-Jan-16 1-May-16 1-Sep-16 1-Jan-17 1-May-17 1-Sep-17 1-Jan-18 1-May-18 1-Sep-18 1-Jan-19

VLCC

SUEZ

AFRA

PANA

MR

Vessel Name

JP MAGENTA DIVINEGATE ARAGONIT

BRAVO V PACIFIC CEBU MARATHA PRIDE PACIFIC JASMINE GLORIOUS FUTURE

DWT

88,174 61,000 56,757 56,942 52,464 37,221 25,159 24,781

BULK CARRIERS

BULK CARRIERS SALES REPORTED THIS WEEK

Year Built

Engine

H/H GEAR

Additional Info

2005

Imabari

B&W

5/5

12.378 ldt

2019 2012 2010 2002 2011 2010 2006

Dalian Hantong Zhejiang Tsuneishi

Saiki Murakami Kurinoura

Man B&W Man B&W Man B&W

B&W Mitsubishi Man B&W Man B&W

5/5 4x30.5tc 5/5 4x36tc 5/5 4x36tc 5/5 4x30tc 5/5 4x30tc 4/4 4x25tc 4/4 4x30tc

10.739 ldt 5.777 ldt

Price ($ Mill.)

$8.2

$22.8 $8.1 $6.5 $4.8 $9.0 $5.7 $4.0

Buyer

Greek Japan Undisclosed Undisclosed China Greek Greek Greek

COMPASS MARITIME BULK CARRIER VALUES

ASSET CLASS

NB CONTRACT

NB PROMPT DELIVERY

5 YEAR

BULK

SIZE (DWT)

(All Numbers in US $ Millions)

CAPE

180,000

49

49

30

KAMSARMAX

82,000

28

28

20

SUPRAMAX

56,000

25

26

15

HANDY

38,000

23

21

14.5

10 YEAR

19 12 10 7

20 YEAR

10 7 5 3

COMPASS MARITIME BULKER VALUES (5YRS OLD)

70 60 50 40 30 20 10

0

CAPE

PANA

SUPRA

NEWBUILDINGS

NEWBUILDING ACTIVITY REPORTED THIS WEEK

No.

Size

Type

Yard

Delivery Price (mill) Comments

Owners

NEWBUILDING STATISTICS - TANKERS

ASSET CLASS

VLCC (200k+ dwt)

SUEZMAX (125k-199k dwt)

AFRAMAX (85k-125k dwt)

PANAMAX (55k-85k dwt)

HANDY TANKER (10k-55k dwt)

2020 2021 2022 TOTAL

29 27

3

59

26 24 15 65

19 51 15 85

13 6

3

22

136 81 20 237

NEWBUILDING STATISTICS - BULKERS

ASSET CLASS

CAPESIZE (100k+ dwt)

PAN/KAM (65k-99k dwt)

SUPRAMAX (40k-64k dwt)

HANDYSIZE (10k ? 39k dwt)

2020 2021 2022 TOTAL 97 65 15 177

139 82 12 233

121 76 18 215

74 49 5

128

CHARTERING MARKET SNAPSHOT

TANKERS BALTIC EXCHANGE TANKER FREIGHT INDICES

BULKERS BALTIC EXCHANGE BULKER FREIGHT INDICES

BDTI BCTI

CURRENT WEEK 551

418

LAST WEEK 605 491

LAST YEAR 491 515

TANKER 12 MONTHS T/C RATES

DWT

CURRENT WEEK

LAST WEEK

VLCC Suezmax

300,000 150,000

2,500 25,000

35,000 27,500

Aframax LR1 MR

110,000 80,000 47,000

18,000 15,500 13,500

20,000 15,500 13,750

CURRENT WEEK

LAST WEEK

LAST YEAR

BDI

923

679

1085

BCI

1523

736

1800

BPI

852

814

1131

BSI

597

507

716

BULKER 12 MONTHS T/C RATES

CAPE

DWT

180,000

CURRENT WEEK

14,750

LAST WEEK 12,500

PANAMAX SUPRAMAX

75,000 52,000

8,600 8,750

8,500 8,500

NAME No Sales to Report

NAME Kure (cont) Altonia (cont0

NAME MV Pacific Garnet MV Iris Express (chip) BFP Melody (cont)

NAME No Sales to Report

RECYCLING ACTIVITY REPORTED THIS WEEK Pakistan

DWT

YEAR LDT

ADDITIONAL INFORMATION

DWT 84,900 22,968

DWT 277,047 43,003 14,035

DWT

YEAR 1996 2000

YEAR 1995 1990 1998

YEAR

India

LDT

ADDITIONAL INFORMATION

33,100 7,852

Bangladesh

LDT

ADDITIONAL INFORMATION

38,509 9,508 5,048

Old sale

Misc.

LDT

ADDITIONAL INFORMATION

PRICE/ LDT (USD)

PRICE/LDT $318 $317

PRICE/ LDT $292 $303 $323

PRICE/ LDT

RECYCLING STATISTICS

ASSET CLASS ULCC/VLCC SUEZMAX AFRAMAX PANAMAX TANKER CAPE/COMBO (80K DWT +) PANAMAX BULKER POST PANAMAX BULKER

LOCATION

BANGLADESH INDIA PAKISTAN

TANKERS 30,000 LDT & above

299.6 292.4

296.5

THIS DATE 2020 0 1 2 1

THIS DATE 2019 5 4 2 0

2019 TOTAL 9 8 5 6

31

21

32

3

4

8

2

0

0

BALTIC SHIP RECYCLING PRICES (US $ / LDT)

TANKERS 15-30,000 LDT

TANKERS 7-15,000 LDT

BULK CARRIERS 20,000 LDT & above

BULK CARRIERS 9-20,000 LDT

294.1

288.6

294.8

289

290.5

285.3

287.4

285.5

294.8

285.5

301

292.0

2018 TOTAL 35 27 52 12 19 2 0

BULK CARRIERS 5-9,000 LDT 283.8 280.0 285.0

INDIA

LOCATION

BANGLADESH

UPCOMING BEACHING TIDES

June 19, 2020 ? June 27, 2020 June 19, 2020 ? June 21, 2020

July 1, 2020 ? July 10, 2020 June 26, 2020 ? June 27, 2020

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