ship finance presentation
TRANSCRIPT
The market
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4 submarkets
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Cargo
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Used ships
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New ships
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Scrap
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The connection
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Cycle
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World trade
Freight rates
Used ship prices
New ship prices
INCREASE
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Supply surplus
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Freight rates
Used ships prices
Scrap prices
DECLINE
Supply
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Back to square one...
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Other influencing factors
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Labour costs
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Government policy
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Foreign exchange rates
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Ownership
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Geography
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Marine suppliers
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Financing
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Age
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Size
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Market fluctuations
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0
10
20
30
40
50
60
70
80
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Mill
US
D
Container (2000 TEU) Bulk (Panamax) Tanker (Aframax)
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0
10
20
30
40
50
60
70
80
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Mill
US
D
Container (2000 TEU) Bulk (Panamax) Tanker (Aframax)
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1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Container 2000 TEU Bulk Panamax Tanker Aframax
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0
10
20
30
40
50
60
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Bulk (Panamax) Newbuild Ship value Mortgage Market Price
20 year depreciation
70 % mortgage
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0
10
20
30
40
50
60
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Bulk (Panamax) Newbuild Ship value Mortgage Market Price
20 year depreciation
70 % mortgage
fredag 20. mars 2009
0
10
20
30
40
50
60
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Bulk (Panamax) Newbuild Ship value Mortgage Market Price
20 year depreciation
70 % mortgage
fredag 20. mars 2009
0
10
20
30
40
50
60
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Bulk (Panamax) Newbuild Ship value Mortgage Market Price
20 year depreciation
70 % mortgage
fredag 20. mars 2009
0
10
20
30
40
50
60
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Bulk (Panamax) Newbuild Ship value Mortgage Market Price
20 year depreciation
70 % mortgage
fredag 20. mars 2009
0
10
20
30
40
50
60
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Bulk (Panamax) Newbuild Ship value Mortgage Market Price
20 year depreciation
70 % mortgage
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Timing
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fredag 20. mars 2009
Questions?
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Thank you
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fredag 20. mars 2009