Monthly

Market Report
JANUARY 2023
 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

2021 YTD 2022 YTD 2023 YTD

60

51 51
50
Number of Vessels

40

30
25 25 24

20 18

12 13
10 9 9
10
4 5
0 0 0 0 1 0 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

2021 YTD 2022 YTD 2023 YTD

$6,000
$5,221

$5,000

$4,000
USD M

$3,000 $2,826
$2,010

$2,000 $1,582
$504 $694 $1,109
$748 $450
$1,000 $547
$291 $390
$182 $0 $0 $0 $0 $0 $0
$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 February 2023 Page 3

S&P ACTIVITY
S&P Transactions YTD by Number of Vessels

2021 YTD 2022 YTD 2023 YTD

120
104 103
100 96
Number of Vessels

80
70
58
60 54 56 55
48
38
40 32 31
22 23
20 13
3 6 3 5 3
2 1 1 1
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

2021 YTD 2022 YTD 2023 YTD

$2,000 $1,846 $1,830
$1,771
$1,800
$1,587 $1,620
$1,600
$1,400 $1,304
$1,173
$1,200
USD M

$1,000
$800 $689
$574 $300
$600
$391
$400 $78 $162 $304
$231 $50
$200 $134 $140
$17 $60 $38 $62 $13
$3
$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 February 2023 Page 4

DEMOLITION ACTIVITY
Demolition Sales YTD by Number of Vessels

2021 YTD 2022 YTD 2023 YTD

20
18 18
18
16
Number of Vessels

14 13

12 11

10
8 7
6
6 5

4 3
2 2
2 1 1 1 1 1 1 1
0 0 0 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

2021 YTD 2022 YTD 2023 YTD

$140
$123
$120

$100
Total Value* USD millions

$79
$80

$58
$60 $51

$40

$20 $11 $9 $7
$9 $6 $8
$5 $1 $2 $0 $0 $1 $3 $4
$0 $0 $1
$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 February 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

Jan
Jan

Jan

Jan

Jan
Jan

Jan

Jan

Sep

Sep
Sep

Sep
Jan

Jan

Jan

Sep

Sep
Sep

Sep

Sep

Sep

May

May

May
May

May

May
May

May

May

May

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 '23

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
Jan
Jan

Jan
Jan

Jan
Jan

Jan

Jan

Sep

Sep
Jan

Jan

Jan

Sep

Sep

Sep
Sep

Sep

Sep
Sep

Sep

May

May

May
May

May

May
May

May
May

May

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 '23

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 February 2023 Page 6

SUPPLY & DEMAND
Top 10 LR2 Trade Routes
Cargo Miles Cargo Quantity
From To (bn MT-NM) (MT)
Russia India 4.57 1,574,598
Algeria South Korea 4.01 770,479
United Arab Emirates South Korea 3.88 1,098,596
India United States of America 2.70 515,114
Russia China 2.70 1,348,713
Saudi Arabia France 2.49 729,057
Saudi Arabia Netherlands 2.27 528,053
China Belgium 1.83 214,030
Kuwait Japan 1.54 268,099
United Arab Emirates Taiwan, China 1.50 433,625

LR2 Supply vs Demand Over Last Year

Cargo Mile % Growth Vessels % Growth

40%
Cargo Mile % Growth: +29.0%
% Change From

30% Vessels % Growth: +3.4%

Last Year

20%
10%
0%
-10%
Jan Mar May Jul Sep Nov Jan
Source: VesselsValue

Cargo Miles (bn MT-NM) Live Vessels

140 425
Number of Vessels

120 420
(MT bn - NM)
Cargo Miles

100
80 415
60 410
40 Cargo Miles: 120.84 MT bn / NM
20 Live Vessels: 423 vessels 405
0 400
Jan Mar May Jul Sep Nov Jan
Source: VesselsValue

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

Trade data valid from 1st to 31st January 2023 Page 7

LR2 Cargo Mile History Russia ▶ India
Cargo Miles (bn MT-NM)
10
9
8
MT Bn / NM

7
6
5
4
3
2
1
0

May

May
May

May

Sep

Sep
May

May

Sep

Sep
May

May

Sep

Sep

Jan

Jan
May

May

Sep

Sep

Jan

Jan
Sep

Sep

Jan

Jan
Jan

Jan

Jan
Jan

Jan

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 '23
Source: VesselsValue

LR2 Weekly Loadings Russia ▶ India

Weekly Loadings
6

5
Number of Ships

0
01 Nov - 08 Nov - 15 Nov - 22 Nov - 29 Nov - 06 Dec - 13 Dec - 20 Dec - 27 Dec - 03 Jan - 10 Jan - 17 Jan -
07 Nov 14 Nov 21 Nov 28 Nov 05 Dec 12 Dec 19 Dec 26 Dec 02 Jan 09 Jan 16 Jan 23 Jan
Source: VesselsValue

LR2 Age Profile Russia ▶ India

9
8
8
Number of Vessels

7
6
5
4
4
3
3
2
1
0 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 January 2023 Page 8

Top LR2 Owners Russia ▶ India
Company No. of Vessels
Novoship 4
TMS Tankers 2
Active Shipping & Management 1
Beks Shipping 1
Centrofin 1
Eastern Mediterranean Maritime 1
Elite Tankships 1
Flourich Marine 1
Fractal Marine DMCC 1
Gatik Ship Management 1
Others 1

Top LR2 Operators Russia ▶ India

Operator No. of Vessels
Novoship 4
TMS Tankers 2
Active Shipping & Management 1
Beks Shipping 1
Centrofin 1
Eastern Mediterranean Maritime 1
Elite Tankships 1
Flourich Marine 1
Fractal Marine DMCC 1
Gatik Ship Management 1
Others 1

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

Trade data valid from 1st to 31st January 2023 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

..
7% 16%
8%

92% 93% 84%

NORTHWEST EUROPE

a
OSV OCV MODU

a 16% 14% 15%

OSV OCV MODU
15% 8% 8%
84% 86% 85%

85% 92% 92%

Middle East Gulf

S. America East Coast

OSV OCV MODU OSV OCV MODU OSV OCV MODU

22% 17% 20% 19% 17%

33% 39% 31% 32%

78% 83% 80% 81% 83%

67% 62% 69% 68%

Gulf of Mexico West Africa South-East Asia

OSV OCV MODU OSV OCV MODU OSV OCV MODU

ACTIVE LAID UP TOTAL

Gulf of Mexico 623 131 54 305 82 15 928 213 69

Northwest Europe 526 199 58 47 14 11 573 213 69

Middle East Gulf 1,016 260 104 194 43 18 1,210 303 122

South-East Asia 989 245 58 242 56 12 1,231 301 70

West Africa 518 88 25 237 42 5 755 130 30

S.A East Coast 329 72 36 56 6 3 385 78 39

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 February 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

May

May
Sep
May

May

May
Sep

Sep
May

May
Sep

Sep

Sep

Jan

Jan

Jan
May

May

May
Sep

Sep
Sep

Sep

Jan

Jan
Jan

Jan

Jan
Jan

Jan

Jan

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 '23

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

Data valid as of 1st February 2023 Page 11

VALUE ANALYSIS

Bulkers
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

Age Capesize Panamax Supramax Handy

-0.1% +3.1% -1.7% +2.6%

-3
180k 82k 62k 38k

+2.2% +0.4% -7.7% -1.8%

0
180k 82k 60k 38k

+4.1% +0.3% -6.0% -1.2%

5
180k 80k 60k 38k

+4.6% +0.3% -5.2% -2.0%

10
180k 80k 60k 32k

+3.6% +0.2% -5.1% -2.9%

15
180k 80k 55k 30k

S&P Transactions in January 2023

Built Capesize Panamax Supramax Handy

2019-2023 0 0 0 0

2014-2018 0 0 3 2

2009-2013 2 1 13 5

2004-2008 2 2 0 0

<2003 0 0 1 1

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

Data valid as of 1st February 2023 Page 12

VALUE ANALYSIS
Headline Bulker Secondhand Sales

Size Build Sales Price VV Value*

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

Cape Maple Newcastlemax 206,200 Aug 2005 Imabari $15.50 $16.01 -

Aquasalwador Capesize 180,000 Jan 2012 Daehan $27.00 $25.26 BWTS

Dyna Globe Post Panamax 99,300 Sep 2006 Imabari $15.50 $15.69 BWTS

Onomichi
IVS Hirono Ultramax 60,300 Aug 2015 $24.60 $24.62 DD Due
Dockyard

Mitsui
Kitakami Supramax 55,700 Apr 2009 $15.25 $15.78 BWTS
Tamano

Ultra Fitz Roy Handy 37,900 Jan 2016 Imabari $20.60 $21.41 En Bloc

Handy (Open
Galene M 33,200 Jan 2011 Kanda $14.10 $14.18 BWTS
Hatch)

Atlantic Zhejiang
Handy 32,500 Dec 2011 $10.75 $10.95 BWTS
Dream Hongxin

*VV Market Value day before sale

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

Data valid as of 1st February 2023 Page 13

 VALUE ANALYSIS

Headline Bulker Newbuild Orders

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

New Dayang Ocean

2 Ultramax 63,500 2025 $32.00 $30.05
Shipbuilding Agencies

**VV Market Value day of order

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

Data valid as of 1st February 2023 Page 14

VALUE ANALYSIS

Tankers
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

Age VLCC Suezmax Aframax LR1 MR

-0.1% +0.2% -1.2% +0.8% -1.1%

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

-0.3% +0.6% +3.1% +0.3% -3.7%

0
320k 160k 110k 75k 50k

-0.4% +0.3% +1.7% +0.8% -4.9%

5
320k 160k 110k 75k 50k

-0.5% +0.6% +0.7% +2.3% -4.0%

10
320k 160k 110k 75k 50k

-0.5% +1.8% +0.2% +4.8% -2.1%

15
310k 160k 110k 75k 50k

S&P Transactions in January 2023

Vessel Built VLCC Suezmax Aframax LR1 MR

2019-2023 0 0 0 0 0

2014-2018 0 0 0 0 2

2009-2013 0 0 2 7 0

2004-2008 5 2 5 3 14

<2003 3 1 1 0 1

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

Data valid as of 1st February 2023 Page 15

VALUE ANALYSIS
Headline Tanker Secondhand Sales

Size Build Sales Price VV Value*

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

Maran Aquarius VLCC 320,800 Sep 2005 Daewoo $52.70 $53.32 Scrubber

Arcadia V VLCC 298,900 Sep 2000 Kawasaki $40.00 $40.95 -

Asia Dawn VLCC 281,400 Oct 2005 IHI $50.00 $49.63 BWTS

Amoroza Suezmax 159,200 Dec 2001 Hyundai HI $27.00 $25.93 BWTS

Kythira Warrior Aframax 115,400 Aug 2006 Sanoyas $38.60 $38.13 BWTS

Aether LR2 113,800 Oct 2007 Daewoo $37.00 $36.81 SS Due

Kriti Bastion LR2 106,100 Feb 2003 Hyundai HI $31.00 $28.98 SS/DD Due

Syra Aframax 105,700 Mar 2010 Sumitomo $39.50 $41.70 BWTS

Hyundai
Marathon Aframax 105,000 Jan 2005 $32.00 $31.91 DD Passed
Samho HI

Challenge Passage MR2 48,700 Apr 2005 Iwagi Zosen $17.50 $16.63 BWTS

*VV Market Value day before sale

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

Data valid as of 1st February 2023 Page 16

VALUE ANALYSIS
Headline Tanker Newbuild Orders

Size Build Sales Price VV Value**

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

Enterprises
2 Suezmax 158,000 2025 DH Shipbuilding Shipping and $77.00 $78.16
Trading

Tsakos Shipping
2 Suezmax 158,000 2025 Hyundai HI $85.00 $82.27
and Trading

Seatankers
3 Aframax 115,000 2026 Dalian Shipbuilding $59.50 $62.44
Management

3 Aframax 115,000 2025 COSCO Shipping TMS Tankers $60.00 $62.75

**VV Market Value day of order

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

Data valid as of 1st February 2023 Page 17

VALUE ANALYSIS

Containers
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

Age ULCV Post Panamax Panamax Handy Feedermax

-4.1% -0.6% -6.8% -0.2% -1.1%

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

-9.8% -14.4% -18.4% -17.6% -12.7%

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

-9.8% -14.0% -20.6% -17.6% -12.1%

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

-9.8% -13.5% -21.9% -18.7% -11.4%

10
18,000 7,000 4,250 1,750 1,100

-9.8% -13.0% -22.0% -23.2% -10.7%

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

S&P Transactions in January 2023

Vessel Built ULCV Post Panamax Panamax Handy Feedermax

2019-2023 0 0 0 0 0

2014-2018 0 0 0 0 0

2009-2013 0 0 0 2 1

2004-2008 0 0 0 4 2

<2003 0 0 0 3 1

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

Data valid as of 1st February 2023 Page 18

VALUE ANALYSIS
Headline Container Secondhand Sales

Size Build Sales Price VV Value*

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

SITC Surabaya Sub Panamax 2,741 Jun 2006 Aker Ostsee $13.00 $14.15 -

Wuhu
Handy
Nickie B 1,368 Jul 2011 Xinlian $10.50 $11.55 Inc TC
Container
Shipbuilding

Dongjin Yangfan
Feedermax 704 Aug 2007 $5.50 $5.07 SS/DD Passed
Highness Zhoushan

*VV Market Value day before sale

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

Data valid as of 1st February 2023 Page 19

 VALUE ANALYSIS
Headline Container Newbuild Orders

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 February 2023 Page 20

VALUE ANALYSIS

LPG
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

SP FR Fully
Age VLGC LGC MGC LEG
Small Pressurised

-1.7% -2.3% -3.1% +0.3% +0.3% +0.7%

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

-8.6% -9.2% -10.0% +0.4% +0.4% +1.6%

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

-9.2% -9.7% -10.5% +1.3% +1.3% -0.1%

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

-9.8% -10.3% -11.2% +1.5% +1.5% -5.2%

10
82k 60k 35k 6.5k 3.5k 12k

-10.5% -11.0% -11.9% +1.1% +1.1% -11.2%

15
82k 60k 35k 6.5k 3.5k 9k

S&P Transactions in January 2023

Vessel Built VLGC LGC MGC SP FR LPG Full Press LEG

2019-2023 0 0 0 0 0 0

2014-2018 0 0 0 0 0 0

2009-2013 0 0 1 0 1 0

2004-2008 0 0 0 0 0 0

<2003 0 0 0 0 0 1

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

Data valid as of 1st February 2023 Page 21

VALUE ANALYSIS
Headline LPG Secondhand Sales
Sales
Size Build VV Value*
Name Type Builder Price Comments
(CBM) Date (USD M)
(USD M)

Telendos MGC LPG 34,513 Jan 2010 Hyundai Mipo $33.00 $34.93 DD Due

Cantieri Navale
Syn Altair LEG 7,174 Feb 1998 $6.00 $6.41 DD Due
di Pesaro

*VV Market Value day before sale

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

Data valid as of 1st February 2023 Page 22

VALUE ANALYSIS
Headline LPG Newbuild Orders

Size Build Sales Price VV Value**

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

2 VLGC LPG 88,000 2026 Hyundai HI Evalend Shipping $97.11 $98.32

**VV Market Value day of order

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

Data valid as of 1st February 2023 Page 23

VALUE ANALYSIS

LNG
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

Age QMAX QFLEX Large LNG Midsize LNG Small Scale

-0.8% -0.7% -0.5% -0.0% +0.2%

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

-0.6% -0.4% -0.2% +0.2% +0.4%

0
266k 215k 174k 70k 15k

-0.6% -0.4% -0.2% +0.2% +0.4%

5
266k 215k 174k 70k 15k

+0.6% +0.8% +1.0% +1.4% +1.6%

10
266k 215k 160k 70k 15k

N/A +2.9% +3.2% +3.6% +3.8%

15
-- 215k 160k 70k 15k

S&P Transactions in January 2023

Vessel Built QMAX QFLEX Large LNG Midsize LNG Small Scale

2019-2023 0 0 0 0 0

2014-2018 0 0 0 0 0

2009-2013 0 0 0 0 0

2004-2008 0 0 0 0 0

<2003 0 0 1 0 0

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

Data valid as of 1st February 2023 Page 24

VALUE ANALYSIS
Headline LNG Secondhand Sales

Size Build Sales Price VV Value*

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

Puteri Intan Mitsubishi

Large LNG 137,100 Aug 2002 $32.50 $43.53 Out of Class
Satu HI

*VV Market Value day before sale

Values data derived from our Matrix and Deals module. Find out more
Data valid as of 1st February 2023 Page 25
VALUE ANALYSIS
Headline LNG Newbuild Orders

Size Build Sales Price VV Value**

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

2 Large LNG 174,000 2026 Hyundai Samho HI Capital Gas $253.01 $256.53

**VV Market Value day of order

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

Data valid as of 1st February 2023 Page 26

VALUE ANALYSIS

Vehicle Carriers
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

Age LCTC Standard PCTC Midsize PCTC

-1.0% -1.2% -1.7%

-3
7.5k 6.5k 4k

-0.5% -0.7% -1.2%

0
7.5k 6.5k 4k

-0.2% -0.4% -0.9%

5
7.5k 6.5k 4k

+0.4% +0.2% -0.3%

10
7.5k 6.5k 4k

+1.3% +1.1% +0.6%

15
7.5k 6.5k 4k

S&P Transactions in January 2023

Vessel Built LCTC Standard PCTC Midsize PCTC

2019-2023 0 0 0

2014-2018 0 0 0

2009-2013 0 1 0

2004-2008 0 0 0

<2003 0 0 0

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

Data valid as of 1st February 2023 Page 27

VALUE ANALYSIS
Headline Vehicle Carrier Secondhand Sales

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 February 2023 Page 28

VALUE ANALYSIS
Headline Vehicle Carrier Newbuild Orders

Sales
Size Build VV Value**
Unit Type Builder Buyer Price
(CEU) Year (USD M)
(USD M)

No Reported Sales

**VV Market Value day of order

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

Data valid as of 1st February 2023 Page 29

VALUE ANALYSIS

RO-RO
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

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

0.0% 0.0% 0.0%

-3
5.5k 3.5k 2.5k

+0.0% +0.0% +0.0%

0
5.5k 3.5k 2.5k

-0.2% -0.2% -0.2%

5
5.5k 3.5k 2.5k

-0.3% -0.3% -0.3%

10
5.5k 3.5k 2.5k

-0.4% -0.4% -0.3%

15
5.5k 3.5k 2.5k

S&P Transactions in January 2023

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

2019-2023 0 0 0

2014-2018 0 0 1

2009-2013 0 0 0

2004-2008 0 0 0

<2003 0 0 0

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

Data valid as of 1st February 2023 Page 30

VALUE ANALYSIS
Headline RO-RO Secondhand Sales

Size Build Sales Price VV Value*

Name Type Builder Comments
(LM) 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 February 2023 Page 31

 VALUE ANALYSIS
Headline RO-RO Newbuild Orders

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 February 2023 Page 32

VALUE ANALYSIS

Offshore
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

Large Medium Small Super V.Large Large Medium Small

Age
PSV PSV PSV AHTS AHTS AHTS AHTS AHTS

+1.7% +1.7% +1.7% +1.5% +1.5% +1.5% +1.4% +1.4%

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

+5.4% +5.4% +5.5% +4.2% +4.2% +4.2% +1.5% +1.5%

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

+6.6% +6.7% +6.7% +3.7% +3.7% +3.7% +2.8% +2.7%

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

+9.6% +9.5% +9.4% +2.6% +2.6% +2.6% +7.2% +7.2%

10
5,100 3,300 1,700 24,000 16,000 12,000 8,000 5,200

+12.2% +12.1% +12.0% +4.0% +4.0% +3.8% +13.6% +13.8%

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

S&P Transactions in January 2023

Large Medium Small Super V. Large Large Medium Small
Vessel Built
PSV PSV PSV AHTS AHTS AHTS AHTS AHTS

2019-2023 0 0 0 0 0 0 0 0

2014-2018 0 0 0 0 0 0 1 0

2009-2013 0 0 0 0 0 0 0 0

2004-2008 0 0 0 0 0 0 0 0

<2003 0 0 0 0 0 0 0 0

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

Data valid as of 1st February 2023 Page 33

VALUE ANALYSIS
Headline Offshore Secondhand Sales
Size
Build Sales Price VV Value*
Name Type (BHP/ Builder Comments
Date (USD M) (USD M)
DWT)

AHTS Guangxin
BGMS Glory 7,150 2017 Undisc 7.27 SS due
(Medium) Shipbuilding

Laid Up. SS/DD

Devlin Candies AHT (Small) 7,100 2000 Bender Undisc 1.65 overdue.

Damen
SS/DD Freshly
Sea Alfa AHT (Small) 3,342 2008 Shipyard 4.2 2.21 passed
Hardinxveld

*Value the day before the sale date

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

Data valid as of 1st February 2023 Page 34

VALUE ANALYSIS

Superyachts
This table shows the monthly % change in value from 1st to 31st January 2023 by age.

Production Production Custom

Age
Planing Displacement Displacement

+11.7% -0.1% +3.9%

0
30m 40m 60m

+12.7% +1.4% +3.4%

5
30m 40m 60m

+14.1% +1.9% +2.5%

10
30m 40m 60m

+15.2% +1.8% +1.5%

15
30m 40m 60m

S&P Transactions in January 2023

Vessel Built Production Planing Production Displacement Custom Displacement

2019-2023 6 2 0

2014-2018 2 6 1

2009-2013 0 3 2

2004-2008 1 2 1

<2003 2 1 4

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

Data valid as of 1st February 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
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assessments made on its basis.

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may need to be estimated or assessed and where such data may be limited or unavailable subjective assessment may have to be
used.

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