THE RORO MARKET EXCESS 700 LANE METER SHIPS WITH STRAIGHT STERN RAMP

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1 THE RORO MARKET EXCESS 7 LANE METER SHIPS WITH STRAIGHT STERN RAMP Åland Maritime Day 1th May 16

2 BRS founded in 1856 has more than 15 years of maritime experience. As one of the largest shipbroking groups in the world, our coverage is also one of the most comprehensive, offering a full range of services in all sectors. Shipbroking Departments Assets NB and S&P Tanker Dirty & Clean Gas LPG & LNG Chemical Dry Bulk Handy to Cape Liner Container, MPP PCTC, Roro & Ferry Offshore In addition to shipbroking and Yacht brokerage, the Group s activities include Marine Insurance, Freight Futures, Software Technologies and Market Intelligence. 45 Employees with brokers 8 brokers in the RoRo/Ferry/MPP/Container market 17 offices in 15 countries The RoRo Market May 16

3 Overview THE RORO MARKET HAS FINISHED A LONG PERIOD OF CONTRACTION (9-14). DECREASE IN FLEET SIZE. AGEING FLEET WITH MINIMAL REPLENISHMENT. DECREASE IN NUMBER OF OWNERS/OPERATORS CONSOLIDATION. WEAK CHARTER RATES. SINCE 14, THE SECTOR S CONDITIONS HAVE IMPROVED. DEMOLITION ACTIVITY HAS SLOWED DOWN. INCREASED NEWBUILDING ACTIVITY. IMPROVING CHARTER RATES. The RoRo Market May 16

4 Active Fleet Excess 7 LM & Straight Stern Ramp Ships 6 1 LM Active Fleet in LM Number of Ships Active Fleet in LM Number of Ships The RoRo Sector April 16

5 Demolition Trends Number of Ships Deleted* & LM Capacity Removed * (Demolitions + Casualties/Conversions) LM Capacity 1 6 Number of Ships Demolished Number of Ships Sunk or Converted Total Lane Meter Capacity Removed Number of Ships Sunk or Converted Number of Ships Demolished Total Lane Meter Capacity Removed The RoRo Sector May 16

6 Tonnage Supply DECREASE SINCE 5 IN NUMBER OF SHIPS WAS % (156 SHIPS) DECREASE IN TERMS OF LM 18% (15 14 LM) DECREASE SINCE 1 IN NUMBER OF SHIPS WAS 1% (87 SHIPS) IN TERMS OF LM 1% DECREASE (95 58 LM) 86 VESSELS REPRESENTING 15, LM ARE OLDER THAN YEARS, EQUIVALENT TO 6% IN TERMS OF THE ACTIVE FLEET AND 16% IN LM TERMS WE ESTIMATE AN INCEASE OF 7-9% IN TERMS OF LM FROM 16 TO. The RoRo Market May 16

7 Average Charter Rates per Segment (EUR / day) between 1 & 15 Average Charter Rates per Segment ( / day) 1-16 > ,5-17, 1, - 14, 1 5 9, - 1, ,5-7, , - 1,5 LM 1,51 -, LM,1 -,5,51 -,5 LM,5+ LM Q1 15 Q4 16 Q1 The RoRo Sector May 16

8 Fleet Breakdown Number of Ships & Average LM per Age Category Average LM 4 Average LM Capacity Number of Ships 14 Ships Years & Over to 4 Years 15 to 19 Years 1 to 14 Years 5 to 9 Years Under 5 Years ON ORDER The RoRo Sector May 16

9 Top RoRo Operators Sorted by LM Capacity Including Number of Ships The RoRo Market May 16

10 Top RoRo Parents/Owners Sorted by LM Capacity Including Number of Ships The RoRo Market May 16

11 Newbuilding Activity NEWBUILDING PRICES/CONDITIONS ARE FAVORABLE, BUT FINANCING REMAINS CHALLENGING. WE EXPECT AN INCREASE IN RORO ORDERS, MOSTLY FROM NORTH EUROPEAN OPERATORS. FOCUS ON LARGE SEGMENT WITH 4+ LM CAPACITY. FLEXIBILITY OF DESIGN DOUBLE-STACKING AND CAR DECKS. VESSELS WILL BE EQUIPPED OR MADE READY TO BE EQUIPPED WITH EMISSION ABATEMENT TECHNOLOGY (DUAL-FUEL PROPULSION OR SCRUBBERS). PURE TONNAGE PROVIDERS HAVE BEEN ABSTAINING FROM NEW ORDERS THE LAST 1 YEARS A FEW SHIPS HAVE BEEN ORDERED WITHOUT FIXED EMPLOYMENT - MORE TO COME? The RoRo Market May 16

12 Orderbook 16 THE ORDERBOOK (INCLUDING VESSELS ALREADY DELIVERED IN 16): x 1, LM SINGLE DECK ROROS FOR SEASPAN, CANADA (DUAL FUEL, BUILT FOR COASTAL TRADE) 1 X 1,95 LM RORO FOR SEAROAD, AUSTRALIA 1 X,55 LM RORO BUILT BY VISENTINI SHIPYARD* 1 X,8 LM ICE CLASS RORO BUILT BY VISENTINI SHIPYARD* 1 X 1,8 LM RORO BEING BUILT BY EGYPTIAN MOD (AL HURREYA ) DELIVERY UNCERTAIN 1 X,5 LM RORO BUILD BY AVIC WEIHAI FOR G. VISENTINI TRANSPORTI* x 7,7 LM ROROS FOR CLdN/COBELFRET (HMD) X 5,45 LM ROROS FOR CLdN/COBELFRET (ULJANIK) X 4,1 LM RORO BUILT BY FLENSBURGER (FSG)* (RUMOURED FIXED ON LONGTERM BB) *ONLY VESSEL BUILT FOR THE TRAMP MARKET BUT ALREADY FIXED. The RoRo Market May 16

13 Shipyards Building RoRo Tonnage 5-18 SIETAS YAMANISHI 1 1 DELIVERED ON ORDER BHARATI TSUJI HI ULJANIK P+S STRALSUND AKER YARDS RAUMA ALEXANDRIA 1 VISENTINI 1 MAWEI KYOKUYO CHOFU HUELVA 4 4 SZCZECINSKA NOWA 6 ODENSE LINDO 8 JINLING 1 HYUNDAI MIPO 1 FLENSBURGER The RoRo Sector May 16

14 The RoRo Market May 16 Newbuilding Price Index ( )

15 The RoRo Market May 16 Disclaimer: The information in this report is given in good faith based on the market situation at the time of preparation and as such is specific to that situation only. While all reasonable case has been taken in the preparation and collection of information in this report, BRS does not accept liablity whatsoever for any errors of fact or omission or opinion, or for any loss incurred by any person who may seek to rely on this information.

16 THANK YOU FOR YOUR ATTENTION!