What is in store for The World Merchant Fleet in 2012? May 2012.

What is in store for The World

Merchant Fleet in 2012?

May 2012

World Fleet Statistics

11 May 2011

Active Merchant Fleet: as at MAY 2ND 2012

BULKERS – 624 MIL DWT (8,256 SHIPS)(>20,000DWT)

TANKERS – 461 MIL DWT (4,335 SHIPS)(>25,000DWT)

CONTAINERS – 15.7 MIL TEU (5,016 SHIPS)

GAS CARRIERS – 72.4 MIL CBM (1,590 SHIPS)

Athens Istanbul

19,197 Ships


11 May 2011

Current NewBuilding Orderbook:

BULKERS – 171 MIL DWT (2,063 SHIPS)(>20,000DWT)

TANKERS – 69 MIL DWT (530 SHIPS)(>25,000DWT)

CONTAINERS – 3.9 MIL TEU (570 SHIPS)

GAS CARRIERS – 13.7 MIL CBM (181 SHIPS)

Athens Istanbul

3,344 Ships


11 May 2011

Dry Bulkers Orderbook:

Athens Istanbul

Ship type Active Ships Ships on Order % of Active

VLOC 275 140 51%

CAPES 1,093 162 15%

POST PMAX 411 134 33%

PANAMAX 1,803 655 36%

SUPRAMAX 1,580 376 24%

HANDYMAX 794 88 11%

HANDIES 2,300 508 22%


11 May 2011

Dry Bulkers Orderbook 2012-2015:

Athens Istanbul

VLO

C

CA

PE

S

PO

ST

PM

AX

PA

NA

MA

X

SU

PR

AM

AX

HA

ND

YM

AX

HA

ND

IES

0

40

80

120

160

200

69

188

40

134

87

36

70 2015201420132012Active Fleet

MIL

LIO

N D

WT


11 May 2011

Dry Bulker Fleet Breakdown:

Athens Istanbul

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

<197

019

7019

7119

7219

7319

7419

7519

7619

7719

7819

7919

8019

8119

8219

8319

8419

8519

8619

8719

8819

8919

9019

9119

9219

9319

9419

9519

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

1320

1420

1520

16

No.

Ves

sels

On Order In Service

4.7% of Active Fleet is over 30 years old


11 May 2011

Tankers Orderbook:

Athens Istanbul


ULCC 31 36 116%

VLCC 560 67 12%

SUEZMAX 447 104 23%

AFRAMAX 898 61 7%

LR1 TANKERS 432 42 10%

MR TANKERS 1,967 220 11%


11 May 2011

Tankers Orderbook 2012-2015:

Athens Istanbul

ULC

C

VLC

C

SU

EZ

MA

X

AF

RA

MA

X

LR

TA

NK

ER

S

MR

TA

NK

ER

S

020406080

100120140160180200

10

170

69

96

31

84 2015201420132012Active Fleet

MIL

LIO

N D

WT


11 May 2011

Tanker Fleet Breakdown:

Athens Istanbul

-

50

100

150

200

250

300

350

400

450

<197

019

7019

7119

7219

7319

7419

7519

7619

7719

7819

7919

8019

8119

8219

8319

8419

8519

8619

8719

8819

8919

9019

9119

9219

9319

9419

9519

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

1320

1420

1520

16

No.

Ves

sels

On Order In Service



11 May 2011

Containership Orderbook:

Athens Istanbul


ULCV 8 29 363%

SUPER P. PMAX 130 116 89%

POST PANAMAX 758 135 18%

PANAMAX 1,044 150 14%

SUB PANAMAX 690 33 5%

FEEDERS 2,386 107 4%


11 May 2011

Containership Orderbook 2012-2015:

Athens Istanbul

ULC

V

SP

P

P.P

MA

X

Pan

am

ax

Su

b P

an

...

Feed

er

-

1,250

2,500

3,750

5,000

124

1,633

5,377

4,342

1,756

2,482

2014201320122011Active Fleet

,000

TEU


11 May 2011

Containership Fleet Breakdown:

Athens Istanbul

-

50

100

150

200

250

300

350

400

450

500

<197

019

7019

7119

7219

7319

7419

7519

7619

7719

7819

7919

8019

8119

8219

8319

8419

8519

8619

8719

8819

8919

9019

9119

9219

9319

9419

9519

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

1320

1420

1520

16

No.

Ves

sels

On Order In Service



11 May 2011

NewBuilding Deliveries 2012:

BULKERS –1,664 SHIPS (141mil DWT)(>25,000DWT)

TANKERS – 323 SHIPS (44mil DWT)(>25,000DWT)

CONTAINERS – 284 SHIPS (1.5mil TEU)

GAS CARRIERS – 66 SHIPS (0.9mil CBM)

Athens Istanbul

2,337 ships6 ships/day


11 May 2011

Newbuilding Deliveries 2010-2013:

Athens Istanbul

Ship type 2010 2011 2012scheduled

2013scheduled

BULKERS 925 1,125 1,664 647

TANKERS 337 297 323 212

CONTAINERS 261 194 284 256

GAS 88 70 66 58

TOTALS 1,611 1,686 2,337 1,173

SHIPS/DAY 4.4 4.6 6.4 3.2


11 May 2011

Dry Bulker Deliveries 2011-2012

Athens Istanbul

39

175

127

194

328

11

251

98157

127

486

360

60

376

0

100

200

300

400

500

600

No.

Ves

sels

2011 2012

10

52 44

59

26

106

12

52

68

56

22

113

-

20

40

60

80

100

120

ULCC VLCC Suezmax Aframax LR1 MR

No.

Ves

sels

2011 2012


11 May 2011

Tanker Deliveries 2011-2012

Athens Istanbul

-

46

59

26

11

52

3

5647

80

10

88

- 10 20 30 40 50 60 70 80 90

100

ULCV SuperP.Pmax

PostPanamax

Panamax SubPanamax

Feeders

No.

Ves

sels

2011 2012


11 May 2011

Containership Deliveries 2011-2012

Athens Istanbul

48

3 15

11

2

59

1 1 1 2 20

10

20

30

40

50

60

70

SGC MGC LGC Small Standard VLGC

LPG LNG

No.

Ves

sels

2011 2012


11 May 2011

Gas Carrier Deliveries 2011-2012

Athens Istanbul

Newbuilding Orders

11 May 2011

Newbuilding Orders placed 2010-2012

Athens Istanbul

050

100150200250300350400450500

JAN

UARY

FEBR

UARY

MAR

CH

APRI

L

MAY

JUN

E

JULY

AUGU

ST

SEPT

EMBE

R

OCT

OBER

NOVE

MBE

R

DECE

MBE

R

JAN

UARY

FEBR

UARY

MAR

CH

APRI

L

MAY

JUN

E

JULY

AUGU

ST

SEPT

EMBE

R

OCT

OBER

NOVE

MBE

R

DECE

MBE

R

JAN

UARY

FEBR

UARY

MAR

CH

APRI

L

2010 2011 2012

No.

Ves

sels

Container Gas Carrier Tanker Dry Bulker

Newbuilding Orders

11 May 2011

Dry Bulk Orderbook by Country of Built

Athens Istanbul

16 170

91

310

79

38 49 51

157

81

0

146

77 73 83

384

199

86

234

VLOC Capesize Post Panamax Panamax Supramax Handymax Handysize0

50

100

150

200

250

300

350

400

450

No.

Ves

sels

S.KOREA JAPAN CHINA

Newbuilding Orders

11 May 2011

Tanker Orderbook by Country of Built

Athens Istanbul

12

30

53

35

16

127

07 3 6 2

1623

29 32

6 9

43

ULCC VLCC Suezmax Aframax LR1 MR0

20

40

60

80

100

120

140

No.

Ves

sels

S.KOREA JAPAN CHINA

Newbuilding Orders

11 May 2011

Container Orderbook by Country of Built

Athens Istanbul

29

87

73

43

616

00 08

0 1 0 20

27 31

86

19

49

16

ULCV SPP Post Panamax Panamax Sub Panamax Feedermax Feeder0

20

40

60

80

100

120

140

160

No.

Ves

sels

S.KOREA JAPAN CHINA

Demolition Market

11 May 2011

Demolition Activity Key Statistics

Athens Istanbul

44.3mil tons removed in 2011 (1,507 ships) 31.5mil tons removed in 2010 (1,309 ships)

Already 24.2mil tons in 2012 (projected >55mil)

Scrapping dwt is ~2-3% of total active dwt Turkey in 2011 received 299 ships (~142k of

LDT) while we have already seen 47 vessels in 2012

As Turkey remains the obvious choice for Med/ Black Sea region and prices firm we could see scrapping volume increase this

year

Demolition Market

11 May 2011

Demolition Activity 2011-2012

Athens Istanbul

Ship type 2011 ships 2011 dwt in mil

2012 ships 2012 dwt in mil

BULKERS 432 25.0 216 13.3

TANKERS 231 11.8 75 6.1

CONTAINERS 54 1.2 61 1.9

GAS 25 0.5 9 0.1

ALL OTHER 765 5.8 164 2.8

TOTALS 1,507 44.3 525 24.2

41%14%

12%2%

31%

BC TANKER CONT GAS ALL OTHER

29%

15%3% 2%

51%

BC TANKER CONT GAS ALL OTHER

Demolition Market

11 May 2011

Demolition Activity 2011-2012

Athens Istanbul

No. of Ships Scrapped 2011 No. of Ships Scrapped 2012

Demolition Market

11 May 2011

Demolition Activity per Region 2012

Athens Istanbul

40%7% 12%

18%

9%14%

INDIA

PAKISTAN

BANGLADESH

CHINA

TURKEY

UNKNOWN

Number of Ships Scrapped

Demolition Market

11 May 2011

Demolition Activity per Region 2012

Athens Istanbul

Total DWT Scrapped

33%

16%17%

18%4%12%

INDIA

PAKISTAN

BANGLADESH

CHINA

TURKEY

UNKNOWN

Demolition Market

11 May 2011

Demolition potential

Athens Istanbul

2010 average age of scrapping was 31 years

2011 average age of scrapping is 32 years 2012 average age of scrapping is 28 years

No. Vessels over 30 years old 385 Dry Bulkers > 20,000DWT (4.7%)

39 Tankers > 25,000DWT (0.9%) 134 Containers (2.7%)

234 Gas Carriers (14.7%)

33%

29%6%

8%

24%

DRY BULKER TANKERGAS TANKER CONTAINEROTHER

SnP Market

11 May 2011

SnP Activity by Vessel Type 2011-2012

Athens Istanbul

38%

30%

4%12%

16%

DRY BULKER TANKERGAS TANKER CONTAINEROTHER

No. of Ships Sold 2011 No. of Ships Sold 2012

SnP Market

11 May 2011


Athens Istanbul

6,427 7,140

2,818 2,459 2,165

21,009

1,965 1,376 280 450 270

4,341

0

5,000

10,000

15,000

20,000

25,000

USD

mill

2011 2012

Total Capital Outlay

SnP Market

11 May 2011


Athens Istanbul

No. of Dry Bulkers Sold

0

10

20

30

40

50

60

No.

Ves

sels

2011 2012

SnP Market

11 May 2011


Athens Istanbul

No. of Tankers Sold

05

101520253035404550

No.

Ves

sels

2011 2012

02468

1012141618

No.

Ves

sels

2011 2012

SnP Market

11 May 2011


Athens Istanbul

No. of Containerships Sold

02468

101214161820

No.

Ves

sels

2011 2012

SnP Market

11 May 2011


Athens Istanbul

No. of Gas Carriers Sold

SnP Market

11 May 2011


Athens Istanbul

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2012 2011

VLOC

Capesize

Post Panamax

Panamax

Supramax

Handymax

Handysize

Mini Bulk

Dry Bulk Sales - Breakdown by Size

SnP Market

11 May 2011


Athens Istanbul

Tanker Sales - Breakdown by Size

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2012 2011

VLCC

Suezmax

Aframax

LR1

MR

Prod/Chem

SnP Market

11 May 2011


Athens Istanbul

Containership Sales - Breakdown by Size

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2012 2011

SPP

Post Panamax

Panamax

Sub Panamax

Feedermax

Feeder

2%

98%

TURKEY ALL OTHER

Of a Total of 1,157 Sales

SnP Market

11 May 2011

SnP Activity by Turkish buyers in 2011

Athens Istanbul

By number of Vessels Purchased

NATIONALITY NO. VESSELS1 GREECE 2032 CHINA 533 INDONESIA 534 SINGAPORE 295 GERMANY 266 TURKEY 24

SnP Market

11 May 2011

SnP Activity by Turkish buyers in 2011

Athens Istanbul

By total Investment Value

NATIONALITY MILL USD1 GREECE 4,3942 INDONESIA 9823 CHINA 5814 SINGAPORE 4405 GERMANY 3476 TURKEY 224

1%

99%

TURKEY ALL OTHER

Of a Total of $ 21.0 bn Invested

40

For any further queries please do not hesitate to contact our Research & Valuations Department.

The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.

Compiled by: Intermodal Research Department | Mr. George Lazaridis | E-mail: [email protected]

On behalf of: Intermodal Sale & Purchase, Newbuilding and Chartering Departments

Athens - Mr. K. Dermatis, Mr. D. Evdemon, Mr. J. Cotzias, Mr. A. Poulopoulos, Mr. T. Ntalakos, Ms. N. Anomitri, Mr. G. Bassakos, Mr. T. Papadopoulos,

Mr. Y. Olziersky, Mr. L. Mystriotis, Mr. P. Tsilingiris, Mr. P. Makrinos, Mr. N. Papantonopoulos, Mr. S. Stavropoulos| E-mail: [email protected]

Shanghai - Mr. G. Dermatis, Mr. G. Eliades, Ms. J. Cao, Mr. S. Ding, Mr. D. Zang | [email protected]

Thank youTeşekkür Ederim

What is in store for The World Merchant Fleet in 2012? May 2012.

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