weekly shipping market report week 10

WEEKLY SHIPPING MARKET REPORT - pg. 1

Week 10 (5th Mar to 12th Mar 2021)

Bulkers

Eiko Kisen have committed their Capesize “Bulk Switzerland” 181/2010 (SS 10/2025, DD 12/2023, BWTS & Scrubber fitted) to Greek buyers for USD 25,6 mill, while the one-year-younger “Frontier Island” 181/2011 Koyo, Japan (SS 03/2026, DD 10/2023, BWTS fitted) from NYK Line was sold to Greek buyers Cyprus Sea Lines for USD 25,3 mill. For reference, the “King Ore” 177/2010 Namura & Sasebo, Japan (SS/DD 07/2022, BTWS & Scrubber fitted) was sold back in January at USD 20,3 mill.

Santoku Senpaku’s Kamsarmax “Lady Giovi” 81/2007 Mitsui, Japan (SS/DD 04/2022, BWTS fitted) was committed to undisclosed buyers for USD 16 mill. Note that the one-year-younger “Fortune Rainbow” 82/2008 Oshima, Japan (SS/DD 02/2023, BWTS fitted) was sold in February at USD 14 mill.

On the Ultramax sector, Celsius Shipping sold their “GH Seabird” 63/2016 Yangfan, China (SS 08/2021, DD 05/2021, BWTS fitted) to Korean buyers for USD 19,5 mill. Remind you that the same owners sold back in February the two-years-older “GH Storm Cat” 63/2014 Sainty, China (12/2024, DD 11/2022, BWTS fitted) at USD 15,75 mill. In addition, Keishin Kaiun sold their Japanese built “Tokyo Bulker” 61/2012 Iwagi, Japan (SS/DD 01/2022) to Chinese buyers for USD 14,5 mill.

Meiho Kaiun have sold their Handysize “Ocean Honesty” 38/2013 Shimanami, Japan (SS/DD 07/2021) to Hong Kong buyers for low USD 14 mill, while Nissen Kaiun sold the one-year-younger sister vessel “Ocean Journey” 38/2014 Shimanami, Japan (SS 01/2024, DD 10/2021, BWTS fitted) to Greek buyers for USD 14,75 mill. For comparison purposes, the sister vessel “Indigo Silva” 38/2013 Shimanami, Japan (SS 12/2025, DD 01/2024, BWTS fitted) was sold a couple of weeks ago at USD 14 mill basis SS/DD freshly passed.

Tankers

Following the purchase of “Hunter Atla” 300/2019 Daewoo, Korea (SS 09/2024, DD 09/2022, Scrubber fitted) at USD 84,5 mill, UAE buyers ADNOC acquired a Chinese built VLCC resale this time, the “Cs Shandong Venture” 308/2021 Dalian, China (SS 03/2026, Scrubber fitted) for USD 87,5 mill.

A correction to our last report, the sister vessels “Star Osprey” & “Star Swift” 114/2003 Samsung, Korea were not committed to FGAS, but to other Vietnamese buyers.

Unicorn Shipping have committed their MR2 sister vessels “Leopard Moon” & “Leopard Sun” 50/2013 Spp, Korea (SS/DD 08/2022 & SS/DD 09/2022 respectively) for USD 21,4 mill each. Moreover, Norden sold their MR1 “Nord Bell” 38/2007 Guangzhou, China (SS/DD 04/2022) to European buyers for low-mid USD 8 mill. Note that a week ago, the one-year-older “Nordic Pia” 38/2006 Guangzhou, China (SS/DD 08/2021) was sold at low USD 7 mill.

Baltic Indices

INDEX 12-Mar 5-Mar ± (%)

BDI 1.960 1.829 7,16%

BCI 2.019 1.784 13,17%

BPI 2.242 2.241 0,04%

BSI 2.077 1.917 8,35%

BHSI 1.283 1.131 13,44%

Daily T/C Avg 12-Mar 5-Mar ± (%)

Capesize $ 16.741 $ 14.794 13,16%

Kamsarmax $ 20.178 $ 20.165 0,06%

Supramax 58 $ 22.844 $ 21.089 8,32%

Handysize 38 $ 23.096 $ 20.357 13,45%

INDEX 12-Mar 5-Mar ± (%)

BDTI 721 666 8,26% BCTI 531 488 8,81%

0

1.000

2.000

3.000

4.000

5.000Bulkers

B.D.I B.C.I B.P.I. B.S.I. B.H.S.I.

0

200

400

600

800Tankers

BDTI BCTI

WEEKLY SHIPPING MARKET REPORT WEEK 10



Capesize

Week 10 saw iron ore rates on the West Australia / China route continued

at the level of low usd 9,00’s fio range. A Capesize was fixed on period at the

usd 20,500 pd basis delivery China for 10/13 months employment.

Kamsarmax / Panamax

North Pacific rounds ranged at the usd 22,000/24,000 pd. CIS Pacific rounds

ranged at the usd 24,000 pd. A number of Australian trips into China were

reported fixed in the usd 22,000/23,000 pd range. A number of Australian

trips into India were fixed around usd 21,000/22,000 pd. Indian trips via East

Coast South America into China were reported at the level of usd 25,000 pd.

Inter-Continental trips via East Coast South America were fixed around usd

28,000 pd. South American trips into Continent were reported at the level

of usd 32,000 pd. South American trips into China were fixed around usd

20,000/21,000 pd plus ballast bonus at the usd 1M/1,25M. On the period

front a Kamsarmax were reported fixed in the usd 21,000 pd for 4/6 months

employment basis delivery in the Pacific. It was also reported that a

Panamax was fixed on period at the usd 15,750 pd basis delivery China for

1year employment.

Ultramax / Supramax

A number of South East Asian trips with coal into China were reported at the

usd 25,000 pd. A number of Indian iron ore trips into China were fixed

around usd 33,000/34,500 pd. Mediterranean trips into West Africa with

clinker were reported fixed at the usd 28,000/29,000 pd. US Gulf trips into

Mediterranean with petcoke were fixed around usd 32,000 pd. North Coast

South American trips into Mediterranean with metcoke were reported at

the level of usd 31,000 pd. An Ultramax was fixed on period at the usd 26,500

pd basis delivery West Coast India for 3/5 months employment. Usd 25,700

pd on an Ultramax for 4/6 months employment basis delivery in the Pacific.

Handymax / Handysize

A number of Inter Persian Gulf petcoke trips were reported fixed at the usd

29,000 pd. Trips from Black Sea into China were reported at the level of usd

36,000 pd. A Small Handysize was reported fixed at the level of usd 20,500

pd for a trip from Black Sea into Mediterranean. North Coast South American

trips via Caribs into Continent with alumina were fixed around usd 22,000

pd. Usd 20,000 pd on a small Handysize for 3/5 months employment basis

delivery in the Pacific.

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

$/d

ay

Capesize

0

4.000

8.000

12.000

16.000

20.000

24.000

$/d

ay

Kamsarmax

0

4.000

8.000

12.000

16.000

20.000

24.000

$/d

ay

Supramax

0

5.000

10.000

15.000

20.000

25.000

$/d

ay

Handysize 38k

DRY BULK COMMENTARY



Bulk Carriers

Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments

Capesize Bulk

Switzerland 181.709 2010

Imabari,

Japan 10/2025

MAN-

B&W - $ 25,6m Greek

BWTS fitted

Scrubber fitted

Capesize Frontier

Island 181.352 2011 Koyo, Japan 03/2026

MAN-

B&W - $ 25,3m

Greek (Cyprus

Sea Lines) BWTS fitted

Capesize Xin Tai Hai 180.346 2011 Dalian,

China 05/2021

MAN-

B&W - $ 21m

Singaporean

(Berge Bulk)

Capesize New

Expedition 176.387 2013

Mitsui,

Japan 01/2023

MAN-

B&W - $ 27,5m Undisclosed BWTS fitted

Kamsarmax Lady Giovi 81.791 2007 Mitsui,

Japan 04/2022

MAN-

B&W - $ 16m Undisclosed BWTS fitted

Kamsarmax Super Grace 81.629 2011 Guangzhou,

China 12/2021

MAN-

B&W - $ 14,9m Undisclosed

Panamax Lord Byron 76.838 2005 Oshima,

Japan 05/2025

MAN-

B&W -

Low-Mid

$ 10m Undisclosed

BWTS fitted,

Incl. T/C

attached

Ultramax GH Seabird 63.553 2016 Yangfan,

China 08/2021

MAN-

B&W 4x30T $ 19,5m Korean BWTS fitted

Ultramax Tokyo Bulker 61.439 2012 Iwagi, Japan 01/2022 MAN-

B&W 4x30,7T $ 14,5m Chinese

Supramax Sam Wolf 57.200 2012 Stx, Korea 10/2022 MAN-

B&W 4x30T $ 11,93m Undisclosed Auction sale

Supramax Arietta A 56.947 2011 Liaoning,

China 03/2021 Wartsila 4x30T Undisclosed Undisclosed

Handymax Audacious 46.683 2004 Toyohashi,

Japan 01/2024 Mitsubishi 4x30T Mid $ 6m Turkish

Handysize Ocean

Honesty 38.276 2013

Shimanami,

Japan 07/2021

MAN-

B&W 4x30T Low $ 14m Hong Kong

Handysize Ocean

Journey 38.190 2014

Shimanami,

Japan 01/2024

MAN-

B&W 4x30,5T $ 14,75m Greek BWTS fitted

Handysize Lowlands

Brabo 32.280 2010

Kanda,

Japan 12/2022 Mitsubishi 4x30,5T $ 10,4m Greek OHBS

Handysize Vega Mars 31.728 2011 Fujian,

China 05/2021 Mitsubishi 4x30T Mid $ 6m Chinese

BWTS included

/not fitted

REPORTED SALES



Tankers

Type Name Dwt YoB Yard SS M/E Price Buyer Comments

VLCC Cs Shandong

Venture 308.000 2021 Dalian, China 03/2026

MAN-

B&W $ 87,5m UAE (ADNOC) Scrubber fitted

Aframax Gladiolus 107.261 1998 Koyo, Japan 09/2024 Sulzer $ 9,2m Undisclosed

MR Leopard

Moon 49.999 2013 Spp, Korea 08/2022

MAN-

B&W $ 21,4m

Undisclosed

MR Leopard Sun 49.999 2013 Spp, Korea 09/2022 MAN-

B&W $ 21,4m

MR Nord Bell 38.431 2007 Guangzhou, China 04/2022 MAN-

B&W

Low-Mid

$ 8m European

Containers

Type Name Teu YoB Yard SS M/E Gear Price Buyer Comments

Post

Panamax

Mediterranean

Bridge 8.586 2011

Hyundai

Samho, Korea 01/2026 Wartsila - $ 50m Thai (RCL)

Scrubber

fitted

Post

Panamax OOCL Antwerp 5.888 2006 Koyo, Japan 05/2021

MAN-

B&W - $ 33,5m Thai (RCL)

Panamax Hobby Hunter 4.255 2009 Hyundai,

Korea 08/2024 Wartsila - $ 23,5m Hapag Lloyd

Panamax Gh Scirocco 3.534 2009 Shanghai,

China 03/2024

MAN-

B&W - $ 14,5m Undisclosed

Panamax Hedda Schulte 3.421 2013 Rongsheng,

China 04/2023 Wartsila

3x45T

1x35T Undisclosed

Asian Spirit

SS

Panamax Nordic Wismar 3.421 2011 Rongsheng,

China 11/2021 Wartsila

3x45T

1x35T Undisclosed Undisclosed

Sub

Panamax Marivia 2.078 2001

Gdynia

Stocznia,

Poland

05/2021 Sulzer 3x45T $ 6,1m Swiss (MSC)

Feeder Charlie 1.730 2002 Szczecinaska,

Poland 12/2022 Sulzer 3x40T $ 6m Swiss (MSC) February sale

REPORTED SALES



Indicative Demolition Prices

Country Price $/ldt

Bu

lke

rs

India 425

Bangladesh 450

Pakistan 450

Turkey 250

Tan

kers

India 435

Bangladesh 460

Pakistan 460

Turkey 260

Demolition Sales

Type Vessel Dwt YoB Ldt Price $/ldt Country Comments

Bulker Sinocarrier 266.307 1992 32.400 478 Pakistan

Bulker The Merciful 73.939 1997 9.796 480 Pakistan

Bulker Texas Enterprise 36.414 1981 7.646 415 India “As Is” Djibouti for HKC green

recycling

Container Grand Midas 5.965 1992 2.035 465 Bangladesh

140

160

180

200

220

240

260

280

300

$/l

dt

Tankers

Turkey

140

160

180

200

220

240

260

280

300

$/l

dt

Bulkers

Turkey

260280300320340360380400420440460480500

$/l

dt

Tankers

India Bangladesh Pakistan

260280300320340360380400420440460480500

$/l

dt

Bulkers

India Bangladesh Pakistan

DEMOLITION



Bulk Carriers

Units Dwt Yard Delivery Price Owner Comments

4 59.000 Jinling, China 2023 $ 24,6m Chinese

(Shanghai Changjiang) For domestic trade

Tankers

Units Dwt Yard Delivery Price Owner Comments

1+1 114.900 Daehan, Korea 2022 $ 51m Greek (Enesel) LR2

Containers

Units Teu Yard Delivery Price Owner Comments

4+4 15.000 Yangzijiang, China 2022/2023 Undisclosed

HK based (Seaspan)

4 12.000 Yangzijiang, China 2022/2023 Undisclosed

4 2.600 Yangzijiang, China 2023 Undisclosed

HK based (SITC)

Options declared

4 1.800 Yangzijiang, China 2023 Undisclosed Options declared

Gas

Units Cbm Yard Delivery Price Owner Comments

3 93.000 Jiangnan, China 2023 Undisclosed Singaporean (Petredec) Options decladed, LPG dual fuelled

1 7.500 Hyundai, Korea 2023 Undisclosed Korean (KOGAS) LNG bunkering

NEWBUILDING



0

10

20

30

40

50

21,516,5

105,8

18,313,5

8,3

28,5

20,817,5

11

30,525

49,5

29,5

21,516,3

Mill

ion

US$

BulkersCapesize

Kamsarmax

Panamax

Ultramax

Supramax

Handysize

Prompt Resale 5 years 10 years 15 years

0

20

40

60

80

100

3627,5

18,512

4533

2113,5

58

4330

17

91

67

46

32,5

Mill

ion

US$

Tankers

VLCC

Suezmax

Aframax

MR

Prompt Resale 5 years 10 years 15 years

Bulkers Tankers

Size Age Week

10 Week

9 ± %

Size Age

Week 10

Week 9

± %

Capesize 180k Resale 49,5 49,5 0,00% VLCC 310k Resale 91 90 1,11%

Capesize 180k 5 years 29,5 29,5 0,00% VLCC 310k 5 years 67 67 0,00%

Capesize 180k 10 years 21,5 21,5 0,00% VLCC 300k 10 years 46 46 0,00%

Capesize 170k 15 years 16,3 16,3 0,00% VLCC 300k 15 years 32,5 32,5 0,00%

Kamsarmax 82k Resale 30,5 30 1,67% Suezmax 160k Resale 58 58 0,00%

Kamsarmax 82k 5 years 25 25 0,00% Suezmax 160k 5 years 43 43 0,00%

Panamax 76k 10 years 17,5 17 2,94% Suezmax 150k 10 years 30 30 0,00%

Panamax 74k 15 years 11 11 0,00% Suezmax 150k 15 years 17 17 0,00%

Ultramax 63k Resale 28,5 28 1,79% Aframax 110k Resale 45 45 0,00%

Ultramax 61k 5 years 20,8 20,5 1,46% Aframax 110k 5 years 33 33 0,00%

Supramax 58k 5 years 18,3 18 1,67% Aframax 105k 10 years 21 21 0,00%

Supramax 56k 10 years 13,5 11,8 14,41% Aframax 105k 15 years 13,5 13,5 0,00%

Supramax 52k 15 years 8,3 7,8 6,41% MR 52k Resale 36 36 0,00%

Handysize 38k Resale 21,5 21,3 0,94% MR 51k 5 years 27,5 27,5 0,00%

Handysize 37k 5 years 16,5 16,3 1,23% MR 47k 10 years 18,5 18,5 0,00%

Handysize 32k 10 years 10 9,8 2,04% MR 45k 15 years 12 12 0,00%

Handysize 28k 15 years 5,8 5,5 5,45%

INDICATIVE PRICES



Currencies Currency 11-Mar 4-Mar ± (%)

EUR / USD 1,1986 1,1969 0,14% USD / JPY 108,51 107,98 0,49%

USD / KRW 1.135,72 1.125,20 0,93% NOK / USD 0,1188 0,1166 1,89%

Commodities Commodity 11-Mar 4-Mar ± (%)

Brent Crude (BZ) 69,63 66,74 4,33% WTI Crude Oil (WTI) 66,02 63,83 3,43%

Natural Gas (NG) 2,67 2,74 -2,55% Gold (GC) 1.722,60 1.700,70 1,29%

Copper (HG) 4,14 3,98 4,02% Wheat (W) 642,50 651,00 -1,31%

1,06

1,08

1,10

1,12

1,14

1,16

1,18

1,20

1,22

1,24

EUR / USD

0

10

20

30

40

50

60

70

$/b

bl

Oil Prices

Brent Crude

WTI Crude

KEY INDICATORS



Stock Prices – Shipping Companies

Company Stock Exchange 11-Mar 4-Mar ± (%) Diana Shipping Inc (DSX) NYSE 3,24 2,80 15,71% Euroseas Ltd (ESEA) NASDAQ 8,09 6,80 18,97% Eagle Bulk Shipping Inc (EGLE) NASDAQ 39,10 31,20 25,32% Navios Maritime Holdings Inc (NM) NYSE 7,49 6,50 15,23% Navios Maritime Partners LP (NMM) NYSE 21,01 18,00 16,72% Star Bulk Carriers Corp (SBLK) NASDAQ 15,69 13,50 16,22% Seanergy Maritime Holdings Corp (SHIP) NASDAQ 1,25 1,07 16,82% Safe Bulkers Inc (SB) NYSE 2,90 2,73 6,23%

Golden Ocean Group Ltd (GOGL) NASDAQ 7,02 6,41 9,52%

Stock Prices - Wet

Company Stock Exchange 11-Mar 4-Mar ± (%) Capital Product Partners LP (CPLP) NASDAQ 10,17 9,86 3,14%

TOP Ships Inc (TOPS) NASDAQ 2,41 2,08 15,87%

Tsakos Energy Navigation Ltd (TNP) NYSE 9,80 9,41 4,14%

Stock Prices - Other

Company Stock Exchange 11-Mar 4-Mar ± (%) Danaos Corp (DAC) NYSE 48,84 39,50 23,65%

StealthGas Inc (GASS) NASDAQ 2,98 2,66 12,03% Rio Tinto PLC (RIO) NYSE 82,50 81,90 0,73% Vale SA (VALE) NYSE 18,02 17,50 2,97%

Archer-Daniels-Midland Co (ADM) NYSE 58,59 55,49 5,59% BHP Group Ltd (BHP) NYSE 74,10 76,00 -2,50%

SHIPPING INDICATIVE SHARE VALUE



ADVANCED SHIPPING & TRADING S.A.

Vouliagmenis Avenue 168, 1st Floor,

Glyfada 16674, Greece

Tel: +30 210 30 03 000

Fax: +30 210 30 01 305

Sale & Purchase Department: Cpt. Fountoglou Michalis Mob: +30 6947 70 07 18 Thermos Stavros Mob: +30 6944 24 20 20

Harrington James Mob: +44 7768 10 45 33

Papoutsis George Mob: +30 6951 00 51 65

Chrousalas Thanasis Mob: +30 6955 47 77 73

Landrakis Stelios Mob: +30 6955 47 77 74

Bilias Tasos Mob: +30 6955 47 77 71

Kontaratos Alkis Mob: +30 6949 19 11 79

Markoutsa Nela Mob: +30 6959 99 85 10

Grigoriou Nikos Mob: +30 6946 85 89 29

Operations Department:

Katsouli Fotini Mob: +30 6942 54 23 57

Chief Executive Consultant:

Cpt. Galonis Dimitrios Mob: +30 6945 55 36 81

E-mail: [email protected]




Dry Cargo Chartering Department:

Pittas Jordan Mob: +30 6944 05 27 46

Benetos Kostas Mob: +30 6943 29 32 13

Filippis Dimitris Mob: +30 6949 19 58 96

Veronikis Spyros Mob: +30 6946 28 07 21

Paraskevopoulou Mina Mob: +30 6949 37 47 06

Dienis Angelos Mob: +30 6951 82 94 48

Ploumpis Stefanos Mob: +30 6951 00 24 36

Petrou Viky Mob: +30 6983 32 55 69

Research Department:

Avdikos Alexandros Mob: +30 6979 49 91 78

Liadi Ioanna Mob: +30 6946 75 59 10

Liadi Artemis Mob: +30 6956 58 41 49

Accounting Department: Stergiou Kostas Mob: +30 6942 09 73 10

Administration Department: Simou Chrysa Mob: +30 6970 55 31 28

“ THINK BIG ” Legal Disclaimer The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up-to-date, Advanced Shipping & Trading S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report. Research compiled by: Advanced Shipping & Trading S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: [email protected]

CONTACT DETAILS

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weekly shipping market report week 10

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