GLENPOINTE CENTRE WEST, FIRST FLOOR, 500 FRANK W.

BURR BOULEVARD TEANECK, NJ 07666 (201) 907-0009

February 5th 2021 / Week 5

THE VIEW FROM THE BRIDGE

Despite the start of the annual slowdown on the chartering side for Chinese New Year holidays, bulk carrier
prices remain very firm with a large number of sales reported of all sizes and ages.

The Scorpio Bulk sales program is close to completion with the sale of 37 kamsarmaxes & ultramaxes reported
sold since September 23, 2020 (totaling about $722 mill. or so!) and the sale of the 12 remaining vessels in the
fleet are being finalized with details to be announced by end February.

This week the following 7 ship package of 4 kamsarmaxes plus 3 ultramaxes was sold en bloc to Star Bulk in
Greece:

SBI Capoeira (81,253 DWT/Built 2015 Hudong - no Scrubber)

SBI Carioca (81,262 DWT/Built 2015 Hudong - Scrubber)
SBI Lambada (81,272 DWT/Built 2016 Hudong - no Scrubber)
SBI Macarena (81,198 DWT/Built 2016 Hudong - Scrubber)
SBI Pegasus (63,371 DWT/Built 2015 Chengxi - no Scrubber)
SBI Subaru (61,571 DWT/Built 2015 Dacks - Scrubber)
SBI Ursa (61,602 DWT/Built 2015 Dacks - no Scrubber)

Three million common shares in Star Bulk will be issued to Scorpio Bulk with the existing lease finance
amounting to approx. $102.3 mill. to be assumed by Star Bulk. Star Bulk shares closed at $10.58 Feb 1, making
the shares portion of the deal worth about $31.7 mill. and with lease obligations included, the number reaches
about $134 mill. en bloc.

Scorpio Bulk received shareholder approval to change their name to Eneti Inc. and will begin trading under the
symbol NETI on February 8th.

Have a good weekend.

 TANKERS
TANKER SALES REPORTED THIS WEEK
Price
Vessel Name DWT Year Built Engine Additional Info Buyer
($ Mill.)
MARION 309,640 2001 Samsung B&W DD due; 41,389 ldt $24.0 Undisclosed

EAGLE VERMONT /
306,999 2002 Hyundai Man B&W 44,591 ldt $24.5 ea Hong Kong
EAGLE VIRGINIA
Epoxy coated;
SEAPRINCE 149,878 2002 Samho B&W Private Terms China
24,925 ldt

FSL FOS / FSL SUEZ 113,500 2021 Cosco Man B&W Coated; Scrubber fitted $52.5ea Undisclosed

Pump room; BWTS

MERMAID 45,763 2002 Minami B&W $8.45 Undisclosed
fitted

ESHIPS EAGLE 13,148 2007 Hyundai MaK IMO II; epoxy coated $6.5 Nigeria

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 88 90 64 45 22

SUEZMAX 160,000 58 60 44 32 11

AFRAMAX 115,000 47 47 35 25 10
PANAMAX -
70,000 40 40 28 18 7
LR1
MR TANKER 51,000 34 34 25 17 6
 BULK CARRIERS
BULK CARRIERS SALES REPORTED THIS WEEK
Additional Price
Vessel Name DWT Year Built Engine H/H GEAR Buyer
Info ($ Mill.)
SAKURA WAVE 88,299 2010 Imabari Man B&W 5/5 $12.5 Greek
DD due;
FORTUNE SUNNY 82,373 2008 Oshima Man B&W 7/7 $13.7 Greek
BWTS fitted
FORUTNE BWTS fitted;
82,338 2009 Oshima Man B&W 7/7 $14.5 Cyprus
MIRACLE 10,954 ldt
R.R. AUSTRALIA 81,582 2011 Sungdong Man B&W 7/7 BWTS fitted $16.2 Undisclosed
SBI CAPOEIRA &
$134.0+ enbloc to Star Bulk (includes
SBI CARICOA 81,253/ 2015/
SBI LAMBADA & / Hudong Man B&W 7/7 3mill. common shares in Star Bulk
82,272 2016
SBI MACARENA (about $31.75mill) issued to Scorpio
SBI PEGASUS / 63,371/ 2015/ Chengxi/ Bulk plus existing lease fiancé of
SBI SUBARU / 61,571/ 2015/ Dacks/ Man B&W 5/5 4x30tc about $102.3 mill. to be assumed by
SBI URSA 61,602 2016 Dacks Star Bulk
SS/BWTS due;
AJAX 77,328 2006 Oshima Man B&W 7/7 $10.15 Undisclosed
10,392 ldt
EVANGELIA SS due; 12,862
74,475 2007 Hudong Man B&W 7/7 $8.6 Undisclosed
PETRAKIS ldt
PARASKEVI 74,269 2003 Oshima B&W 7/7 9,997 ldt $7.3 China

GH STORM CAT 63,308 2014 Yangzhou Man B&W 5/5 4x45tc BWTS fitted $15.75 Europe
XING SHOU HAI / 2016/
60,492 Mitsui Man B&W 5/5 4x30tc BWTS fitted $41.0 enbloc China
XING XI HAI 2017
NAVIOS ASTRA 53,400 2006 Imabari Man B&W 5/5 4x30.5tc SS/BWTS due $6.75 Turkey

ANTA 47,305 2002 Minami B&W 5/5 4x320tc 7,915 ldt $5.75 Korea
OCEAN JOURNEY / 38,190/ 2014/ Shimanami/ Man B&W/
SAPPHIRE ISLAND/ 33,664/ 2012/ Shin Mitsubishi/
5/5 4x30.5tc $56.0 enbloc Greek
BASIC OCEAN / 33,664/ 2012/ Kurushima/ Mitsubishi/
PRINCESS QUI 33,375 2015 Shin Kochi
ASIA PEARL VI 35,220 2011 Nantong SS/BWTS due $6.25 Greek

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 47 47 30 20 10

KAMSARMAX 82,000 26 26 21 13 7

SUPRAMAX 56,000 23 23 15 11 5

HANDY 38,000 22 21 14.5 8 3

 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
35 36 8 79 82 35 4 121
(200k+ dwt) (100k+ dwt)
SUEZMAX PAN/KAM
28 31 2 61 128 44 4 176
(125k-199k dwt) (65k-99k dwt)
AFRAMAX SUPRAMAX
62 30 11 103 123 75 0 198
(85k-125k dwt) (40k-64k dwt)
PANAMAX HANDYSIZE
7 3 0 10 96 25 1 122
(55k-85k dwt) (10k – 39k dwt)
HANDY TANKER
157 56 3 216
(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 496 517 803 BDI 1333 1452 415
BCTI 483 511 623 BCI 1527 1890 -234
BPI 1662 1633 541
BSI 1144 1165 491
TANKER 12 MONTHS T/C RATES
CURRENT
DWT WEEK
LAST WEEK BULKER 12 MONTHS T/C RATES
CURRENT
VLCC
300,000 22,500 23,500 DWT WEEK
LAST WEEK

Suezmax 150,000 17,000 17,000 CAPE 180,000 14,500 15,500

Aframax 110,000 14,500 15,000 PANAMAX 75,000 12,000 12,000

LR1 80,000 13,000 12,500 SUPRAMAX 52,000 11,500 11,500
MR 47,000 12,500 12,000
 RECYCLING ACTIVITY REPORTED THIS WEEK
Pakistan
PRICE/ LDT
NAME DWT YEAR LDT ADDITIONAL INFORMATION
(USD)
No Sales to report

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 1 0 3 9
SUEZMAX 1 0 3 8
AFRAMAX 3 2 10 5
PANAMAX TANKER 0 0 5 6
CAPE/COMBO (80K DWT +) 2 11 54 32
PANAMAX BULKER 4 1 13 8
POST PANAMAX BULKER 0 2 3 0
BALTIC SHIP RECYCLING PRICES (US $ / LDT)

TANKERS TANKERS TANKERS BULK CARRIERS BULK CARRIERS BULK CARRIERS

LOCATION 5-9,000 LDT
30,000 LDT & above 15-30,000 LDT 7-15,000 LDT 20,000 LDT & above 9-20,000 LDT
BANGLADESH 434.5 434.5 431.25 428.88 429.38 426.75
INDIA 419.0 418.5 416.13 413.75 414.5 410.63
PAKISTAN 430.75 430.75 425.75 423.0 422.5 419.38

UPCOMING BEACHING TIDES

LOCATION
INDIA February 8, 2021 – February 16, 2021 February 25, 2021 – March 5, 2021
BANGLADESH February 13, 2021 – February 16, 2021 March 1, 2021 – March 4, 2021
 MISCELLANEOUS VESSELS
CONTAINERSHIPS SALES REPORTED THIS WEEK
Price
Vessel Name DWT Year Built TEU Engine GEAR Additional Info Buyer
($ Mill)
APL NORWAY 72,807 2007 Koyo 6,310 Man B&W $31.2 Singapore
FOS EXPRESS /
LONG BEACH EXPRESS/ 68,578 2008 Hanjin 5,085 Man B&W $40.5 Undisclosed
SEATTLE EXPRESS
NAXOS 68,047 2003 Hyundai 5,680 B&W $25.5 Undisclosed
SONGA TOSCAN 62,272 2013 Jiangsu 4,956 Man B&W BTWS fitted $42.3 US
HARRIER HUNTER 51,779 2009 Hyundai 4,255 Man B&W DD due $21.0 Undisclosed

BARDU / BALEARES 34,0846 2014 Jiangsu 2,546 Man B&W $18.0 ea UK

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 344.0 349.0 367.5
180CST N/A 350.0 N/A
MGO 489.0 555.0 494.0

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)

The information contained in this report has been obtained from various market sources. COMPASS MARITIME believes such information to be factual and reliable without
making guarantees regarding its accuracy or completeness. COMPASS MARITIME will not be held responsible for any action or failure to take action upon reliance on
information contained herein. This report, whether partially or in its entirety, cannot be reproduced by any means without the prior written authorization of COMPASS
MARITIME. Compass Maritime adheres to all GDPR privacy requirements.
© 2000-2019 COMPASS MARITIME SERVICES, LLC All Rights Reserved