Monthly

Market Report
DECEMBER 2022
 Contents
3 Newbuilding Activity

4 S&P Activity

5 Demolition Activity

7 Supply & Demand

10 Offshore Utilisation

11 Offshore Fleet Development

12 Value Analysis
NEWBUILDING ACTIVITY
Newbuilding Orders YTD by Number of Vessels

2020 YTD 2021 YTD 2022 YTD

700
605
600

500
Number of Vessels

390 405 385

400 358

300
229
186 193 199
200
119
91 96
100 54 65
3 5 8 8 3 0 0
0
Bulker Tanker Container Gas Vehicle Carrier RO-RO OSV*

Source: VesselsValue * Does not include FSVs and PSVs 300 DWT or under

Newbuilding Orders YTD by USD M

2020 YTD 2021 YTD 2022 YTD

$45,000 $41,953

$40,000
$36,055
$35,419
$35,000

$30,000

$25,000 $22,193
USD M

$20,000
$9,402 $11,883
$15,000 $12,330 $8,643
$11,005 $5,465
$9,056
$10,000
$6,050
$3,420 $4,586 $661
$5,000 $29
$166 $95 $527 $0 $0
$0
Bulker Tanker Container Gas Vehicle Carrier RO-RO OSV*

Source: VesselsValue * Does not include FSVs and PSVs 300 DWT or under

Newbuilding data derived from our Deals section. Find out more
Data valid from 1st January 2023 Page 3
S&P ACTIVITY
S&P Transactions YTD by Number of Vessels

2020 YTD 2021 YTD 2022 YTD

1,400
1,269
1,073 1,210
1,200
1,008
1,023
1,000 935
Number of Vessels

876

800
672
601
600
470
398
400 336
252 278 268
166
200 132 122
16 31 21 17 26 23
0
Bulker Tanker Container Gas Vehicle RO-RO OSV* Superyachts
Carrier

Source: VesselsValue * Does not include FSVs and PSVs 300 DWT or under

S&P Transactions YTD by USD M

2020 YTD 2021 YTD 2022 YTD

$30,000
$25,699
$25,000 $22,090
$20,884

$19,479
$20,000 $17,787
$17,363
USD M

$14,013
$15,000
$12,190
$10,532
$10,000 $8,079 $5,374
$5,954
$5,761 $3,389
$5,000 $662 $1,036 $3,802
$393
$192 $631 $372 $1,495
$288 $827
$0
Bulker Tanker Container Gas Vehicle RO-RO OSV* Superyachts
Carrier

Source: VesselsValue * Does not include FSVs and PSVs 300 DWT or under

S&P data derived from our Deals module. Find out more

Data valid from 1st January 2023 Page 4

DEMOLITION ACTIVITY
Demolition Sales YTD by Number of Vessels

2020 YTD 2021 YTD 2022 YTD

300 282

250
Number of Vessels

200

143
150 132

100 88 83 79
57 62
48 42
50 27
20 24 16 15 11 9
10 6 6 0
0
Bulker Tanker Container Gas Vehicle Carrier RO-RO OSV*

Source: VesselsValue * Does not include FSVs and PSVs 300 DWT or under

Demolition Sales YTD by USD M

2020 YTD 2021 YTD 2022 YTD

$1,600

$1,400 $1,334

$1,200
Total Value* USD millions

$1,000
$753 $766
$800

$600 $414
$374 $301
$400
$183 $159 $115
$75 $27 $63
$200
$36 $30 $58 $39 $33 $39 $34
$18 $0
$0
Bulker Tanker Container Gas Vehicle Carrier RO-RO OSV*

* Does not include FSVs and PSVs 300 DWT or under

Source: VesselsValue
** VV Demolition Value on Date on sale

Demolition data derived from our Deals module. Find out more

Data valid from 1st January 2023 Page 5

DEMOLITION ACTIVITY
Tanker Demo Price vs Tankers Scrapped

Number of Vessels Tanker Demo Price ($/LDT)

$800 40

$700 35

$600 30

Vessels Scrapped
$500 25
USD/LDT

$400 20

$300 15

$200 10

$100 5

$0 0

Sep
May
Sep

May
Sep

May
Sep
May
Sep

May
Sep

May
Jan

Jan

Jan

Jan
Jan

Jan
May
Sep

May
Sep

May
Sep

May
Sep
Jan
Jan

Jan

Jan

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

VV Demo Price is defined as the USD per LDT a Tanker would fetch in the India Sub Continent Market.
This is plotted against number of Tankers scrapped.

Source: VesselsValue

Bulker Demo Price vs Bulkers Scrapped

Number of Vessels Bulker Demo Price ($/LDT)

$800 70

$700 60

$600
50
Vessels Scrapped
$500
USD/LDT

40
$400
30
$300
20
$200

$100 10

$0 0
May
Sep

May
Sep
Sep

May
Sep
May
Sep

May

Jan

Jan
Sep

May
Sep

Jan

Jan
May
Sep

May
May
Sep

May
Sep

Jan

Jan

Jan
Jan

Jan

Jan

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

VV Demo Price is defined as the USD per LDT a Bulker would fetch in the India Sub Continent Market.
This is plotted against number of Bulkers scrapped.

Source: VesselsValue

Demolition data derived from our Deals module. Find out more

Data valid from 1st January 2023 Page 6

SUPPLY & DEMAND
Top 10 Panamax Bulker Trade Routes
Cargo Miles Cargo Quantity
From To (bn MT-NM) (MT)
United States of America China 47.51 11,723,658
Australia India 17.48 4,373,440
Indonesia China 17.02 12,335,178
Brazil China 16.60 3,361,670
Canada China 13.58 3,834,054
Australia Japan 11.59 4,456,897
Australia China 9.65 4,081,800
Argentina China 8.03 1,911,548
Russia India 7.21 1,551,040
Australia South Korea 6.37 1,995,662

Panamax Bulker Supply vs Demand Over Last Year

Cargo Mile % Growth Vessels % Growth Cargo Mile % Growth: +10.6%

Vessels % Growth: +4.1%
15%
% Change From

10%
Last Year

5%
0%
-5%
-10%
Dec Feb Apr Jun Aug Oct Dec
Source: VesselsValue

Cargo Miles (bn MT-NM) Live Vessels

600 2,650
Number of Vessels

500
(MT bn - NM)
Cargo Miles

2,600
400
300 2,550
200 Cargo Miles: 536.38 MT bn / NM
Live Vessels: 2,614 vessels 2,500
100
0 2,450
Dec Feb Apr Jun Aug Oct Dec
Source: VesselsValue

Trade activity data derived from our Trade module. Find out more

Trade data valid from 1st to 31st December 2022 Page 7

Panamax Bulker Cargo Mile History United States of America ▶ China

Cargo Miles (bn MT-NM)

120
100
MT Bn / NM

80
60
40
20
0

Jan
May
Jan
May

Sep
Jan
May

Sep
Jan
May

Sep
Jan
May

Sep
Jan
May

Sep
Jan
May

Sep
Jan
May

Sep
Jan
May

Sep
Jan
May

Sep
Sep

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: VesselsValue

Panamax Bulker Weekly Loadings United States of America ▶ China

Weekly Loadings
35
30
Number of Ships

25
20
15
10
5
0
03 Oct - 10 Oct - 17 Oct - 24 Oct - 31 Oct - 07 Nov - 14 Nov - 21 Nov - 28 Nov - 05 Dec - 12 Dec - 19 Dec -
09 Oct 16 Oct 23 Oct 30 Oct 06 Nov 13 Nov 20 Nov 27 Nov 04 Dec 11 Dec 18 Dec 25 Dec
Source: VesselsValue

Panamax Bulker Age Profile United States of America ▶ China

70
62
60
Number of Vessels

50
42 41
40

30

20 14
10
0 0 0
0
0-5y 6 - 10 y 11 - 15 y 16 - 20 y 21 - 25 y 26 - 30 y 31+ y

Source: VesselsValue Age

Trade activity data derived from our Trade module. Find out more

Trade data valid from 1st to 31st December 2022 Page 8

Top Panamax Bulker Owners United States of America ▶ China

Company No. of Vessels

China Development Bank FL 5
Nisshin Shipping 5
Castor Maritime 5
RB Shipping 3
China Construction Bank FL 3
CMB Financial Leasing 3
Santoku Senpaku 3
Sea Traders 3
Grace Ocean Investment 3
Blue Planet Shipping 3
Others 123

Top Panamax Bulker Operators United States of America ▶ China

Operator No. of Vessels

Oldendorff Carriers 6
Castor Maritime 4
Marubeni 4
Norden 3
Sea Traders 3
BG Shipping 3
Blue Planet Shipping 3
Bulk Trading Group 3
SwissMarine Services SA 3
Bunge Ltd 3
Others 125

Trade activity data derived from our Trade module. Find out more

Trade data valid from 1st to 31st December 2022 Page 9

OFFSHORE UTILISATION
Regional Offshore Lay Ups
Percentage of vessels laid up in each region by ship type
% Laid Up
% Active

OSV OCV MODU

..
6% 16%
9%

91% 94% 84%

NORTHWEST EUROPE

a
OSV OCV MODU

a 15% 15% 16%

OSV OCV MODU

15% 5%
8%
85% 86% 84%

85% 92% 95%

Middle East Gulf

S. America East Coast

OSV OCV MODU OSV OCV MODU OSV OCV MODU

21% 18% 21% 18% 15%

33% 39% 31% 33%

79% 82% 80% 82% 85%

67% 61% 69% 67%

Gulf of Mexico West Africa South-East Asia

OSV OCV MODU OSV OCV MODU OSV OCV MODU

ACTIVE LAID UP TOTAL

Gulf of Mexico 617 131 55 305 83 15 922 214 70

Northwest Europe 530 201 57 50 13 11 580 214 68

Middle East Gulf 1,020 260 103 183 44 20 1,203 304 123

South-East Asia 962 237 58 248 51 10 1,210 288 68

West Africa 521 89 23 230 43 5 751 132 28

S.A East Coast 327 70 35 56 6 2 383 76 37

Definition of Lay Up: Vessels which have not signalled for over 8 weeks are considered out of work or laid up.

Offshore Lay Ups data derived from our Map module. Find out more

Offshore Lay Up data valid as of 1st January 2023 Page 10

OFFSHORE FLEET DEVELOPMENT
OSV Fleet Development

Additions DWT DWT Scrapped Net Fleet Change

120
Additions / Removals DWT Thousands

100
80
60
40
20
0
-20
-40
-60

Jan
May
Jan
May

Sep
Sep
May

Jan
May
Sep
Jan
May

Jan

Sep
Jan
May

Sep
Jan
May

Sep
Sep
May

Jan
May
Sep
Jan
May

Jan

Sep
Sep

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

S&P data derived from our Trade and Deals modules. Find out more

Data valid as of 1st January 2023 Page 11

VALUE ANALYSIS

Bulkers
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Age Capesize Panamax Supramax Handy

-1.2% -7.2% -3.7% -11.0%

-3
180k 82k 62k 38k

-12.1% -6.8% -13.7% -16.8%

0
180k 82k 60k 38k

-11.4% -7.4% -11.7% -15.5%

5
180k 80k 60k 35k

-12.7% -8.8% -11.2% -14.1%

10
180k 80k 60k 32k

-13.9% -11.2% -12.6% -12.8%

15
180k 75k 55k 30k

S&P Transactions in 2022

Built Capesize Panamax Supramax Handy

2018-2022 1 20 23 22

2013-2017 13 52 78 102

2008-2012 27 95 124 98

2003-2007 36 45 51 34

<2002 18 49 68 63

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 12

VALUE ANALYSIS
Headline Bulker Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size Build Sales Price VV Value*

Name Type Builder Comments
(DWT) Date (USD M) (USD M)

Aquagenie Capesize 177,300 Dec 2003 Namura $13.30 $14.52 -

Aquahope Capesize 177,200 Oct 2007 Namura $18.00 $18.87 SS/DD Passed

Post Jiangsu New BWTS

TW Manila 93,300 Apr 2012 $19.00 $18.33
Panamax Yangzijiang
Tsuneishi BWTS
Nord Pollux Panamax 81,800 Jan 2016 $25.00 $26.26
Cebu
Chengxi DD Due
Stony Stream Ultramax 64,000 Apr 2015 $24.50 $23.36
Shipyard
Hyundai BWTS
Sea Ksanti Supramax 59,900 Jan 2012 $18.80 $19.61
Mipo

Alegre III Supramax 55,800 Mar 2007 Kawasaki $14.70 $14.30 DD Due

Handy
Taizhou BWTS
Interlink Sagacity (Open 38,700 Aug 2015 $20.00 $18.95
Kouan
Hatch)
Minami BWTS
Kirishima Sky Handy 35,300 Mar 2014 $16.50 $17.22
Nippon

Mykonos Bay Handy 32,400 Jan 2009 Jinse $11.80 $11.59 -

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 13

VALUE ANALYSIS
Headline Bulker Newbuild Orders
This table shows headline newbuild orders for December 2022.

Sale
Size Build VV Value**
Unit Type Builder Buyer Price
(DWT) Year (USD M)
(USD M)

COSCO Shipping HI Zhejiang Xiehai

2 Panamax 82,500 2025 $32.50 $30.33
Yangzhou Group

Kasuga
2 Handy 40,000 2025 Hakodate Dock $32.30 $30.08
Shipping

**VV Market Value day of order

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 14

VALUE ANALYSIS

Tankers
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Age VLCC Suezmax Aframax LR1 MR

+16.6% +13.1% +15.3% +27.3% +20.3%

-3
320k 160k 115k 75k 50k

+23.2% +21.1% +35.7% +52.9% +37.8%

0
320k 160k 110k 75k 50k

+35.9% +40.2% +45.7% +57.3% +45.5%

5
320k 160k 110k 75k 50k

+53.8% +61.2% +73.9% +62.7% +63.8%

10
310k 160k 110k 75k 50k

+69.2% +73.3% +119.5% +65.9% +91.4%

15
310k 160k 110k 75k 50k

S&P Transactions in 2022

Vessel Built VLCC Suezmax Aframax LR1 MR

2018-2022 18 12 16 0 20

2013-2017 5 7 15 24 71

2008-2012 16 28 35 22 95

2003-2007 35 38 94 32 107

<2002 22 17 16 1 31

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 15

VALUE ANALYSIS
Headline Tanker Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size Build Sales Price VV Value*

Name Type Builder Comments
(DWT) Date (USD M) (USD M)

Syfnos VLCC 298,500 Jun 2006 Universal $56.00 $49.38 Scrubber

Jiangsu
Front Balder Suezmax 156,000 Jul 2009 $38.50 $35.96 Scrubber
Rongsheng

Ridgebury
Suezmax 150,000 May 2008 Universal $39.50 $38.91 SS/DD Due
Mary Jane

Houston Star Aframax 116,100 Jul 2007 Universal $39.25 $39.49 SS/DD Passed

Gullit LR2 108,900 Mar 2008 SWS $34.00 $37.17 SS/DD Due

Minoansea LR2 108,800 Aug 2008 SWS $39.50 $37.21 -

MR2 (Chem /
Navigare Pactor 51,000 Jan 2012 STX Offshore $32.00 $30.93 BWTS
Product)

Centennial Onomichi
MR2 47,200 Sep 2008 $21.50 $21.29 BWTS
Misumi Dockyard

MR1 (Chem /
Cape Bacton 40,200 Apr 2004 Hyundai Mipo $15.00 $15.75 DD Passed
Product)

MR1 (Chem /
Cape Bradley 40,200 Feb 2004 Hyundai Mipo $15.00 $15.55 DD Passed
Product)

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 16

VALUE ANALYSIS
Headline Tanker Newbuild Orders
This table shows headline newbuild orders for December 2022.

Size Build Sales Price VV Value**

Unit Type Builder Buyer
(DWT) Year (USD M) (USD M)

New Times
4 Suezmax 157,000 2025 TMS Tankers $72.00 $75.86
Shipbuilding

**VV Market Value day of order

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 17

VALUE ANALYSIS

Containers
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Age ULCV Post Panamax Panamax Handy Feedermax

-2.6% +1.6% -21.8% -0.2% -7.6%

-3
23,000 7,000 4,250 1,750 1,100

-41.4% -46.5% -45.2% -39.7% -49.5%

0
23,000 7,000 4,250 1,750 1,100

-43.8% -46.9% -41.7% -36.2% -48.7%

5
18,000 7,000 4,250 1,750 1,100

-38.3% -46.9% -42.4% -34.2% -45.3%

10
16,000 7,000 4,250 1,750 1,100

-16.6% -46.4% -47.0% -33.5% -39.5%

15
15,000 7,000 4,250 1,750 1,100

S&P Transactions in 2022

Vessel Built ULCV Post Panamax Panamax Handy Feedermax

2018-2022 6 0 2 18 1

2013-2017 3 10 1 11 7

2008-2012 2 14 18 40 13

2003-2007 0 22 26 42 30

<2002 0 10 4 25 20

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 18

VALUE ANALYSIS
Headline Container Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size Build Sales Price VV Value*

Name Type Builder Comments
(TEU) Date (USD M) (USD M)

Sub Wadan
AS Cleopatra 2,742 Aug 2006 $20.90 $19.81 -
Panamax Yards MTW

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 19

 VALUE ANALYSIS
Headline Container Newbuild Orders
This table shows headline newbuild orders for December 2022.

Size Build Sales Price VV Value**

Unit Type Builder Buyer
(TEU) Year (USD M) (USD M)

No Reported Orders

**VV Market Value day of order

Find out more
Values data derived from our Matrix and Deals module.

Data valid as of 1st January 2023 Page 20

VALUE ANALYSIS

LPG
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

SP FR Fully
Age VLGC LGC MGC LEG
Small Pressurised

+10.7% +13.4% +19.7% -12.2% -12.1% +3.2%

-3
84k 60k 38k 6.5k 3.5k 12k

+16.1% +18.9% +25.5% 0.0% 0.0% +9.6%

0
84k 60k 38k 6.5k 3.5k 12k

+13.7% +16.4% +23.0% +2.5% +2.5% +10.7%

5
84k 60k 38k 6.5k 3.5k 12k

+14.0% +16.5% +24.5% +7.1% +7.2% +16.9%

10
82k 60k 35k 6.5k 3.5k 9k

+18.7% +21.4% +29.7% +15.8% +15.8% +32.3%

15
82k 60k 35k 6.5k 3.5k 8k

S&P Transactions in 2022

Vessel Built VLGC LGC MGC SP FR LPG Full Press LEG

2018-2022 5 0 4 0 1 8

2013-2017 9 0 0 2 2 6

2008-2012 13 0 5 3 2 0

2003-2007 5 0 3 3 4 0

<2002 5 0 4 6 7 4

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 21

VALUE ANALYSIS
Headline LPG Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size Build Sales Price VV Value*

Name Type Builder Comments
(CBM) Date (USD M) (USD M)

BW Austria VLGC 84,614 Mar 2009 Daewoo $59.00 $61.58 Scrubber

BW Odin VLGC 82,000 Mar 2009 Hyundai HI $59.00 $60.52 Scrubber

Ronald N VLGC 75,014 Oct 2008 Hyundai HI $50.00 $50.26 Inc TC

Karoline N VLGC 75,014 Feb 2009 Hyundai HI $50.00 $50.85 Inc TC

Gaschem Fincantieri
MGC 37,000 Nov 2003 $22.50 $23.54 BWTS
Aachen Ancona

Bastogne MGC 35,229 Nov 2002 Hyundai HI $23.50 $24.19 BWTS

Berkshire MGC 35,000 Aug 2008 Hyundai HI $30.20 $30.58 BWTS

FULLY Zhejiang
Gas Prodigy 4,930 Apr 2003 $5.10 $5.38 SS/DD Due
PRESS Shipbuilding

FULLY
Gas Spirit 4,018 Aug 2001 Higaki Zosen $5.70 $5.68 BWTS
PRESS

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 22

VALUE ANALYSIS
Headline LPG Newbuild Orders
This table shows headline newbuild orders for December 2022.

Size Build Sales Price VV Value**

Unit Type Builder Buyer
(CBM) Year (USD M) (USD M)

2 VLGC LPG 88,000 2025 Hyundai HI Latsco Shipping $97.80 $96.18

1 MGC LPG 46,000 2025 Hyundai Mipo PascoGas $69.30 $66.25

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 23

VALUE ANALYSIS

LNG
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Age QMAX QFLEX Large LNG Midsize LNG Small Scale

+29.5% +27.5% +25.7% +17.6% +3.3%

-3
266k 215k 174k 70k 15k

+33.4% +31.4% +29.5% +21.2% +6.5%

0
266k 215k 174k 70k 15k

+33.5% +31.5% +29.6% +21.3% +6.5%

5
266k 215k 174k 70k 15k

+30.6% +28.7% +26.0% +18.6% +4.2%

10
266k 215k 160k 70k 15k

N/A +23.7% +20.6% +14.1% +0.2%

15
-- 215k 150k 70k 15k

S&P Transactions in 2022

Vessel Built QMAX QFLEX Large LNG Midsize LNG Small Scale

2018-2022 0 0 10 0 0

2013-2017 0 0 20 0 0

2008-2012 0 0 4 0 0

2003-2007 0 0 6 0 0

<2002 0 0 2 0 0

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 24

VALUE ANALYSIS
Headline LNG Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size Build Sales Price VV Value*

Name Type Builder Comments
(CBM) Date (USD M) (USD M)

No Reported Sales

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more
Data valid as of 1st January 2023 Page 25
VALUE ANALYSIS
Headline LNG Newbuild Orders
This table shows headline newbuild orders for December 2022.

Size Build Sales Price VV Value**

Unit Type Builder Buyer
(CBM) Year (USD M) (USD M)

China Merchants
2 Large LNG 175,000 2026 Dalian Shipbuilding $235.00 $239.65
Energy Shipping

2 Large LNG 174,000 2026 Hyundai Samho HI Asyad Shipping $250.39 $255.92

**VV Market Value day of order

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 26

VALUE ANALYSIS

Vehicle Carriers
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Age LCTC Standard PCTC Midsize PCTC

+11.1% +14.1% +20.1%

-3
7.5k 6.5k 4k

+31.3% +34.9% +42.0%

0
7.5k 6.5k 4k

+53.3% +57.5% +65.8%

5
7.5k 6.5k 4k

+79.4% +84.2% +93.9%

10
7.5k 6.5k 4k

+108.8% +114.5% +125.7%

15
7.5k 6.5k 4k

S&P Transactions in 2022

Vessel Built LCTC Standard PCTC Midsize PCTC

2018-2022 0 0 0

2013-2017 2 2 0

2008-2012 1 2 5

2003-2007 0 0 1

<2002 0 2 1

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 27

VALUE ANALYSIS
Headline Vehicle Carrier Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size Build Sales Price VV Value*

Name Type Builder Comments
(CEU) Date (USD M) (USD M)

No Reported Sales

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 28

VALUE ANALYSIS
Headline Vehicle Carrier Newbuild Orders
This table shows headline newbuild orders for December 2022.

Size Build Sales Price VV Value**

Unit Type Builder Buyer
(CEU) Year (USD M) (USD M)

Jinling Shipyard
2 LCTC 9,400 2025 BYD $100.00 $103.70
Nanjing

2 LCTC 9,400 2025 China Merchant HI BYD $100.00 $97.59

Fujian Mawei
3 LCTC 7,500 2026 Santoku Senpaku $86.00 $94.46
Shipbuilding

**VV Market Value day of order

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 29

VALUE ANALYSIS
RO-RO
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Age RO-RO (Large) RO-RO (Midsize) RO-RO (Small)

+4.7% +1.1% -1.0%

-3
5.5k 3.5k 2.5k

+1.5% -1.9% -4.0%

0
5.5k 3.5k 2.5k

-4.5% -7.7% -9.7%

5
5.5k 3.5k 2.5k

-6.0% -9.2% -11.1%

10
5.5k 3.5k 2.5k

-1.4% -4.8% -6.8%

15
5.5k 3.5k 2.5k

S&P Transactions in 2022

Vessel Built RO-RO (Large) RO-RO (Midsize) RO-RO (Small)

2018-2022 0 0 0

2013-2017 0 1 0

2008-2012 0 2 0

2003-2007 0 0 1

<2002 0 0 15

Data valid as of 1st January 2023 Page 30

VALUE ANALYSIS
Headline RO-RO Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size Build Sales Price VV Value*

Name Type Builder Comments
(LM) Date (USD M) (USD M)

RO-RO
Paqize 3,663 May 2010 Odense Steel $32.60 $30.76
(Midsize)

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 31

 VALUE ANALYSIS
Headline RO-RO Newbuild Orders
This table shows headline newbuild orders for December 2022.

Size Build Sales Price VV Value**

Unit Type Builder Buyer
(LM) Year (USD M) (USD M)

No Reported Orders

**VV Market Value day of order

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 32

VALUE ANALYSIS

Offshore
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Large Medium Small Super V.Large Large Medium Small

Age
PSV PSV PSV AHTS AHTS AHTS AHTS AHTS

+17.5% +17.5% +17.5% +12.2% +21.7% +7.1% +0.9% +1.5%

-3
5,200 3,600 1,700 24,000 16,000 12,000 8,200 5,500

+21.0% +21.0% +21.0% +32.0% +43.2% +25.9% +17.7% +18.4%

0
5,200 3,600 1,700 24,000 16,000 12,000 8,200 5,500

+30.3% +30.3% +30.3% +61.7% +75.3% +54.5% +23.2% +23.9%

5
5,200 3,600 1,700 24,000 16,000 12,000 8,200 5,500

+66.3% +66.2% +66.0% +83.9% +99.4% +75.6% +42.9% +43.9%

10
4,800 3,300 1,700 24,000 16,000 12,000 8,000 5,200

+133.6% +133.9% +133.3% +76.9% +90.0% +67.4% +72.3% +74.0%

15
4,800 3,300 1,600 23,500 16,000 12,000 8,000 5,100

S&P Transactions in 2022

Large Medium Small Super V. Large Large Medium Small

Vessel Built
PSV PSV PSV AHTS AHTS AHTS AHTS AHTS

2018-2022 6 7 2 1 0 3 4 6

2013-2017 18 7 2 3 0 0 10 6

2008-2012 9 27 5 0 4 3 22 10

2003-2007 8 18 0 2 5 5 9 6

<2002 5 7 2 4 2 2 0 4

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 33

VALUE ANALYSIS
Headline Offshore Secondhand Sales
This table shows headline secondhand sales for December 2022.

Size
Build Sales Price VV Value*
Name Type (BHP/ Builder Comments
Date (USD M) (USD M)
DWT)

Pacific Ocean
OSV Latona AHTS (Small) 3,945 2022 N/A 9.22 Laid up.
Engineering

Karadeniz
Wuchang
Powership PSV (Large) 5,300 2008 7.5 10.57 DD Passed
Shipbuilding
Turker Bay

AHTS PaxOxean
Touchet Tide 7,080 2004 N/A 2.00
(Medium) Singapore

*Value the day before the sale date

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 34

VALUE ANALYSIS

Superyachts
This table shows the yearly % change in value from 1st January to 31st December 2022 by age.

Production Production Custom

Age
Planing Displacement Displacement

+3.4% +8.7% +3.7%

0
30m 40m 60m

+3.6% +7.1% +3.6%

5
30m 40m 60m

+4.5% +6.7% +3.4%

10
30m 40m 60m

+5.3% +6.7% +3.1%

15
30m 40m 60m

S&P Transactions in 2022

Vessel Built Production Planing Production Displacement Custom Displacement

2018-2022 47 45 13

2013-2017 36 34 18

2008-2012 44 47 18

2003-2007 46 35 17

<2002 10 29 63

Values data derived from our Matrix and Deals module. Find out more

Data valid as of 1st January 2023 Page 35

 Disclaimer
Information and opinions provided in this report have been compiled or arrived from sources believed by VesselsValue Ltd to be
reliable and are given in good faith based on the current market situation at the time of preparing this report and as such is specific
to that point only. While all reasonable care has been taken in the preparation and collation of information in this report VesselsValue
Ltd (and all associated and affiliated companies) does not accept any liability whatsoever for any errors of fact or opinion based on
such facts. No warranty or representation is made as to the correctness, completeness and accuracy of the information or the
assessments made on its basis.

Some industry information relating to the shipping industry can be difficult to find or establish. Some data may not be available and
may need to be estimated or assessed and where such data may be limited or unavailable subjective assessment may have to be
used.

No part of this report should be reproduced, distributed or communicated to any third party. VesselsValue Ltd do not accept any
liability if this report is used for an alternative purpose from which it is intended, nor to any third party in respect of this report.
VesselsValue Ltd accepts no liability to any third party whatsoever.

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