Weekly review of Ship transactions (2019.03.13)

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 On March 13, the Shanghai Ship Price Index issued by the Shanghai Shipping Exchange was 818.85 points, up 0.26% from the previous month. Among them, the international tanker price composite index and the coastal bulk cargo price composite index rose by 0.66% and 1.83% respectively, and the international bulk cargo price composite index and the inland river bulk cargo price composite index fell by 0.88% and 0.72% respectively.

The rebound in oil prices is affected by multiple factors. On the one hand, Saudi Arabia may extend its production to April, and the reduction in production may be greater than the size of the previous agreement, which will bring rebound momentum to crude oil. On the other hand, the International Energy Agency (IEA) predicts the increase in US crude oil demand. The fastest rate in the world is the first time the United States has led the world's crude oil demand in the past 20 years, which also provides support for oil prices. Brent crude oil futures closed at $66.67 a barrel (Tuesday), up 1.23% from the previous month. Recently, the freight rate of large-scale tankers in the world has risen slightly, the freight rate of medium-sized tankers has been steadily decreasing, the freight rate of small tankers has fluctuated, and the prices of second-hand tankers have risen and fallen. In this issue, the typical ship valuation of international tankers of 5 years old: 47000DWT--22.31 million US dollars, up 2.38% from the previous month; 74000DWT--21.7 million US dollars, down 1.80% from the previous month; 105000DWT--30.60 million US dollars, down 0.03% from the previous month; 158000DWT--4428 million US dollars, up 0.15% from the previous month; 300,000 DWT--60.8 million US dollars, up 1.67%. The international tanker's spot freight rate has steadily declined, and the one-year period rate has risen steadily. It is expected that the price of second-hand tankers may be consolidating. In this period, the volume of second-hand international tankers decreased slightly, with a total of 7 vessels (reduced by 3 vessels), with a total capacity of 1,395,500 DWT, a turnover of 153.4 million US dollars, and an average age of 12.57 years.

The price of coal has increased, the supply of ports has tightened, the pace of rushing by downstream coal companies and traders has accelerated, the volume of metal ore has rebounded, the price of bulk cargo has continued to climb, and the price of second-hand bulk cargo has risen slightly. In this issue, the typical ship valuation of domestic coastal bulk cargo of 5 years old: 1000DWT--1.47 million yuan, up 1.96% from the previous month; 5000DWT--8.0 million yuan, up 1.62% from the previous month. At present, the temperature is rising, the demand for coal is decreasing, the market expects the coal price to be lowered, the downstream coal users are waiting to see a strong mood, the coal transportation demand is shrinking, and the spot freight rate is slightly adjusted. It is expected that the bulk cargo price will stabilize in the short term. In this issue, 6 bulk carriers were sold, and the tonnage of the ship was mainly around 1000DWT and 5000DWT.

The demand for inland river bulk transportation is generally low, and the freight rate has fallen steadily. The price of second-hand bulk carriers has fallen more and more. In this issue, the typical ship valuation of domestic inland river bulk cargo of 5 years old: 500DWT--490,000 RMB, down 1.29% from the previous month; 1000DWT--92 million RMB, up 2.00% from the previous month; 2000DWT--1.7 million RMB, down 0.59 from the previous month. %; 3000DWT--2.7 million RMB, down 2.93% from the previous month. On March 8, Li Zhanshu, chairman of the Standing Committee of the National People's Congress, said at the second meeting of the National People's Congress that it is necessary to concentrate on implementing the major legislative issues established by the Party Central Committee, including the real estate tax law and other legislative investigations and drafting. The progress of real estate tax legislation exceeded expectations; the goal of shed reform was weakened, and the overall slowdown in real estate was a major trend. At present, the demand for bulk cargo in the river is relatively low, and it is expected that the price of inland river bulk cargo will be slightly consolidating. In this period, most of the price of inland river bulk carriers fell, and the market turnover remained active. A total of 134 ships were sold (26 contracts less), with a total capacity of 21.01 million DWT and a turnover of 176.08 million yuan.

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                                                                                                                                                      Reported by Miss Vicky from Cargofee