WEEKLY SHIPPING

MARKET REPORT WEEK 22

- 28th May – to 4th June 2013 -

Legal Disclamer

The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up to date, Shiptrade Services S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report.

Researched and compiled by: Shiptrade Services SA, Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions please contact: market-research@shiptrade.gr

Shiptrade Services SA Tel +30 210 4181814 snp@shiptrade.gr 1st Floor, 110/112 Notara Street Fax +30 210 4181142 chartering@shiptrade.gr 185 35 Piraeus, Greece www.shiptrade.gr tankerchartering@shiptrade.gr

1

Sungdong Shipbuilding on Track toward Normalization

Sungdong Shipbuilding, a Korean shipbuilder located in Tongyeong in South Gyeongsang Province, is on track toward normalization after falling prey to financial difficulty during the 2008 global financial crisis. At the time, it suffered a massive amount of losses due to foreign currency derivatives such as the "knock-in knock-out" option. According to Korea EximBank, a major creditor bank of the shipyard, Sungdong Shipbuilding has received orders for four tuna fishing vessels plus nine bulkers this year. In addition, the company is now in talks with Norway's Frontline for construction of four 8,800 TEU containerships. The value of these contracts is estimated at $330 million. Given that it received orders for only three ships last year, this year's performance is remarkable. Sungdong Shipbuilding' financial conditions, accordingly, are improving. The amount of financial support given by its creditor banks fell to 20 billion won this year from 890.7 billion won in 2012, 849.3 billion won in 2011, and 240.7 billion won in 2010. It also expects to achieve operating profits this year, in a dramatic turnaround from the losses of 1,139 billion won in 2008, 465.3 billion won in 2010, and 178.1 billion won in 2012. (Korea IT Times)

Iron ore exports shown 157% higher in 2012-13

Though the mining crisis in India led to an unprecedented decline in iron ore exports in 2012-13, following a regulatory crackdown, the official statistical department had merely glossed over this. Figures compiled by the Directorate General of Commercial Intelligence & Statistics (DGCIS), under the commerce ministry, showed India's iron ore exports jumped a whopping 157 per cent to 121 million tonnes in 2012-13, compared with 47 million tonnes a year ago. The same data showed the export value for iron ore declined to about $1.6 billion from about $4.6 billion through the same period. These figures vary significantly from data released by other entities. According to the Federation of Indian Mineral Industries, outbound shipments of iron ore declined from 61.74 million tonnes in 2011-12 to 18.37 million tonnes in 2012-13. Latest provisional data from the mines ministry showed iron ore exports during the April-December 2012 period stood at 14.2 million tonnes. "We have released the principal commodity wise figures for March 2013, as well as April-March 2012-13. The item level data for March 2013 is currently under validation," DGCIS Director General D Sinha told Business Standard. He added according to provisional figures, in 2012-13, iron ore exports stood at only 17 million tonnes, compared with 47 million tonnes in 2011-12. A revision would be made when item-wise figures are released by end of this month.To a query on whether the revision would lead to a change in the value of export figures for the item, he said, "There will be no change in the value figures for exports." To increase domestic availability of iron ore, the government had, last year, increased the duty on iron ore exports to 30 per cent.Also, due to various illegal activities in the mining sector, exports from two of the largest iron ore producing and exporting states, Goa and Karnataka, were banned.Earlier, the ministry of statistics and programme implementation had made an error, showing industrial

growth for January 2012 at 6.8 per cent, against the actual 1.1 per cent, owing to confusion over sugar output data sent by the Directorate of Sugar. ( Business Standard)

Oil falls below $93 a barrel

The price of oil fell below $93 a barrel Tuesday as traders scaled back their optimism about the U.S. economy following a report that showed shrinking factory activity. Benchmark oil for July delivery fell 57 cents to $92.88 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.48 to close at $93.45 a barrel on the Nymex on Monday. Data showing that manufacturing activity in the U.S. slowed in the month of May boosted energy markets Monday. Traders believe the weaker the economy, the less likely it is for the U.S. Federal Reserve to pull back on its monetary stimulus measures.The Institute for Supply Management said Monday that its index of manufacturing activity fell to 49 last month from 50.7 in April. Readings below 50 indicate a contraction. But analysts at DBS Bank Ltd. in Singapore said the data was worrisome because it reflected a trend, not a one-time event, since the reading has dropped every month since February. "The ISM dropped to 49 in May. That's not weak, that's negative. Below zero. Under water ... best not to look for a rebound next month," DBS said in a market commentary.Brent crude, a benchmark for many international oil varieties, fell 22 cents to $101.84 a barrel on the ICE Futures exchange in London.In other energy futures trading on the New York Mercantile Exchange: _ Wholesale gasoline added 0.2 cents to $2.7868 a gallon. _ Heating oil fell 0.5 cent to $2.8283 per gallon. _ Natural gas fell 1.8 cent to $3.973 per 1,000 cubic feet. (Associated Press)

Opec must balance competing interests

The Organisation of Petroleum Exporting Countries (Opec) has to balance the interests of its member states with the health of the global economy. If the oil price is too high, global growth slows; and exporters lose revenue. If it is too low, needed income of member states drops in any case. The “right” oil price aids global growth, while ensuring states have the revenue they need for their social and economic development. For now, that level is perceived to be about $100 a barrel. At its latest meeting, Opec decided to maintain its current official level of output, despite concerns that weak global growth, especially in the Eurozone, and increased production in shale oil from the United States, might push down prices, currently in the $100 range. In a statement after the meeting, Opec said the relative stability of the oil price this year was an indication that the economic fundamentals of the market were sound and fluctuations were due to political tensions. They are right. In troubled times, when stability is prized, it is necessary that Opec be transparent about its price objectives and cautious in its efforts to influence the market. ( Gulfnews)

Shipping , Commodities & Financial News

2

Activity in handysize

The activity in Sales & Purchase continued strong. The buyers are taking advantage of the attractive prices of secondhand

tonnages. In the dry sector we have noticed several reported sales of handysize vessels, traditionally Greek buyers continue

to invest in more modern tonnages while others especially Eastern buyers are concentrating mostly on 90ies built vessels.

In the wet sector interesting last week were the various reported sales of region 2000s’ built tonnages, as well the activity

in the VLCC size tankers.

Last week we have noticed the reported sale of two modern handysize bulk carriers for firm prices. Both were reported

being sold to Greek buyers. Namely the vessels are “New Ambition” (35.313 dwt 2004 built Japan) sold for the price of USD

14.35 million and the second one is the “Angel Island” (28.510 dwt 2004 built Japan) sold for USD 13.5-14 million.

Shiptrades’ enquiry index once more has declined last week. The number of incoming enquiry emails for dry and wet

tonnages were almost equal. In the dry sector we have noticed that the firm interest for handysize 90ies to modern vessels

still exists. Furthermore there is always demand for handymaxes and supramaxes built mid 90ies to mid 2000s. As for

panamaxes most of the buyers are concentrated on more modern tonnages. In the wet sector the MR tankers are the most

attractive vessels, especially those built mid 90ies up to very modern. The interest for modern LR1 and aframaxes had a

slight increase.

NEWBUILDINGS

In the newbuilding market we have seen 26 vessels to have been contracted.

6 Bulk Carriers (Kamsarmax, Ultramax)

20 Tankers (Aframax, MR)

DEMOLITION

The demolition market after a series of improving weeks had now suffered a decline. The weakening Indian Rupee prices,

the forthcoming monsoon season and the oversupply during previous months has led prices in subcontinent to levels about

USD 20 less than previous weeks. In India and Bangladesh the prices are in region USD 400 per LT. The Pakistan market is

weak as well with prices in about USD 410 per LT. The Chinese market still continues as previous with prices being on the

very low side of about USD 320 per LT.

Sale & Purchase

3

Indicative Market Values – ( 5 yrs old / Mill $ )

Bulk Carriers

Week 22 Week 21 Change %

Capesize 30 30 0.00

Panamax 20.5 20.5 0.00

Supramax 19 19 0.00

Handysize 15 15 0.00

Tankers

VLCC 54 54 0.00

Suezmax 40 40 0.00

Aframax 27 27 0.00

Panamax 25 25 0.00

MR 24 24 0.00

Weekly Purchase Enquiries

SHIPTRADE P/E WEEKLY INDEX

0

50

100

150

200

250

300

350

400

2-8

/5/2

01

29-1

5/5

/20

12

16-2

2/5

/2012

23-2

9/5

/2012

30/5

-5/6

/2012

6-1

2/6

/20

12

13-1

9/6

/2012

20-2

6/6

/2012

27/6

-3/7

/2012

4/7

-10/7

/2012

11/7

-17/7

/2012

18-2

4/7

/2012

25-3

1/7

/2012

1-7

/8/2

01

28-1

4/8

/20

12

15-2

1/8

/2012

22-2

8/8

/2012

29/8

-4/9

/2012

5-1

1/9

/20

12

12-1

9/9

/2012

19-2

5/9

/2012

26/9

-2/1

0/2

012

3-9

/10/2

012

10-1

6/1

0/1

217-2

3/1

0/1

224-3

0/1

0/1

231/1

0-6

/11/1

27-1

3/1

1/1

214-2

0/1

1/1

221-2

7/1

1/1

228/1

1-4

/12/1

25-1

1/1

2/1

212-1

8/1

2/1

2

19/1

2/1

2-8

/1/1

39-1

5/1

/13

16-2

2/1

/13

23-2

9/1

/13

30/1

-5/2

/13

6-1

2/2

/13

13-1

9/2

/13

20-2

6/2

/13

27/2

-5/3

/13

6-1

2/3

/13

13-1

9/3

/13

20-2

6/3

/13

27/3

-2/4

/13

3-9

/4/1

310-1

6/4

/13

17-2

3/4

/13

24-3

0/4

/13

1-7

/5/2

01

38-1

4/5

/20

13

15-2

1/5

/13

22-2

8/5

/13

Korea China Spore KCS

Greece Other SUM

Sale & Purchase

4

Reported Second-hand Sales

Bulk Carriers Name Dwt DoB Yard SS Engine Gear Price Buyer

Shoho 87.996 1995 Sasebo, Jpn 09/2014 B&W - $7.000.000 Undisclosed

Konyo 77.561 1999 Sasebo, Jpn 07/2014 B&W - $8.000.000 (Coal Carrier)

Undisclosed

Simurgh 54.881 2005 Oshima, Jpn 11/2015 B&W 4 X 30 T $17.000.000 Thoressen

New Ambition 35.313 2004 Shikoku, Jpn 05/2014 B&W 4 X 30 T $14.350.000 Greek

Angel Island 28.510 2004 Imabari, Jpn 09/2014 B&W 4 X 30 T $13.5-14 mill Greek

SB Royal 28.716 1996 Kanasashi, Jpn 08/2016 Mit 4 X 30 T $6.650.000 (via auction)

Chinese

VTC Light 21.964 1995 Saiki, Jpn 01/2015 Mit 4 X 30 T $4.200.000 Turkish

Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer

Kaimon II 314.014 2002 Mitsui, Jpn 01/2017 B&W DH $30.000.000 European

Ryuohsan 281.050 2000 IHI, Jpn 11/2015 Sul DH $21 mill each

En Bloc Greek

Bandaisan 281.037 2000 IHI, Jpn 07/2015 Sul DH

Captain X. Kyriakou 159.113 2003 Hyundai, Kor 11/2013 B&W DH $28.000.000 (reported on subs)

Undisclosed

Pacific Oasis 47.999 2004 Iwagi, Jpn 10/2014 B&W DH $16.800.000 Indian

Atlantic Lutetia 35.930 1999 Daedong, Kor 08/2014 Sul DH $10.000.000 Undisclosed

Sichem Defender 19.999 2007 Fukuoka, Jpn 01/2017 Mit DH $21.000.000 Undisclosed

Sale & Purchase

5

Newbuilding Orders

No Type Dwt / Unit Yard Delivery Owner Price 4 Tanker 114.000 SHI 2015 Scorpio 52

2 Tanker 114.000 HHI 2015 Scorpio 52

2 Tanker 114.000 DSME 2015 Scorpio 52

4 BC 82.000 Penlgu 2016 Laskaridis -

2 BC 64.000 Penglu 2015/16 Laskaridis -

2 Tanker 52.000 SPP 2015 Scorpio 32.5

2 Tanker 51.200 Dae Sun 2014 Navios -

8 Tanker 50.000 GSI 2015 Trafigura 32

Newbuilding Prices (Mill $) – Japanese/ S. Korean Yards

Newbuilding Resale Prices

Bulk Carriers

Capesize 48 36

Panamax 33 27

Supramax 25 24

Handysize 20 19

Tankers

VLCC 88 81

Suezmax 56 55

Aframax 45 38

Panamax 40 36

MR 33 32

Newbuilding Resale Prices

Bulk Carriers (2008 – Today) Tankers (2008 – Today)

Newbuildings

6

Demolition Sales

Vessel Type Built Dwt Ldt Buyer Country Price

Veracruz Express Container 1987 40.870 16.809 India 428 (‘as is’ Fujairah with sufficient bunkers for the voyage to Alang)

Demolition Prices ($ / Ldt)

Bangladesh China India Pakistan

Dry 400 320 400 410

Wet 420 360 420 430

Demolition Prices

Bulk Carriers (2008 – Today) Tankers (2008 – Today)

Demolitions

7

In Brief: Mediocre stability across most sizes Capes: Steady in a decreasing manner Stability in a decreasing manner would be described this week for Capes with the BCI ending up at 1336 decreased by 14 points. Atlantic market was slow with the transantlantic round trips closing at around USD 3,500/3,750 reported reduction compared to last week’s levels whereas fronthaul ex Cont/Med fixing at around USD 18,500. Tubarao/Qingdao route yielded TCE of about USD 17,600/17,700 slightly decreased than last week. The pacific market was steady with the Australian iron ore trade covering available tonnage. Waus/Qingdao have been concluded at USD $7.50 pmt towards the end of the week.Pacific round trips were fixed at around USD 7,500. Period levels at around USD 10,500 for one year. Panamax: Negative sentiment in both hemispheres. BPI index at the beginning of the week was at 838 points to finally close down by 43 points at 795 on Friday. Atlantic market remained slow this week with very few fresh requirements outnumbered by spot tonnage especially in South Atlantic. Though there were some Baltic rounds reported at USD 9000 levels, transantlantic round trips in general were seen fixing at USD 7000-7500 levels whilst fronthauls were reported at USD 13000-13500 levels aps basis plus 300-400k ballast bonus. Unfortunately overall scene in the Pacific basin did not improve significantly this week either and rates stayed on the low side tending to decline further. Nopac and East Aussie market was somehow more active this week but rates were progressively falling and fixtures were reported at USD 6000-6500 levels plus 250k ballast bonus and about USD 5000 plus 200k ballast bonus aps basis respectively. Indonesian round trips were still reported fixing on aps basis at USD 6000-6500 levels plus 70-100k ballast bonus. Short period activity remained slow this week with fixing levels for 4/6 months up to one year at USD 8000 levels about. Supramax: Market steady with slight improvement Market was steady with slight improvement except ECSA and EMED which slowed down. In this respect, BSI reporting an increase of 13 points. In the Atlantic basin, ECSA fronthaul bss del West Africa closing at around USD 13,000 decreased a bit than last week levels and on the same manner trips to Skaw – Passero bss del West Africa via ECSA at around USD 8,000. Trips to feast bss del Canakkale were fixed at around USD 12,750/13,000 whereas ex Continent at around USD 14,000. As for the USG, trips to feast were fixed at low 20’s and at EMED at high teens. Pacific basin have seen some fresh requirements with coal via Indonesia to China fixing at around USD 12,000 bss del Singapore whereas ex Indonesia to India Handysize: Stability at low levels Nothing remarkable happened on the handy market with the average of the 4 T/C routes at USD 7,906, bit less than last week. The Atlantic round voyage was done at around USD 9,500 and the trips ex USG to Skaw/Passero slightly decreased at USD 13,750 while owners were getting USD 4/4,250 ex Continent and Med in order to reposition there. This week we saw some fixtures for 2/3 laden legs at levels from USD 8,500 basis delivery Black Sea and around USD 10,000 basis USG/ECSA delivery with owners trying to have their vessels fixed for the summer period and taking advantage of their position. East Med/Black Sea remained tough for owners as there were not much firm orders around to cover the oversupply of vessels. The negative sentiment continued at the Pacific market where the round voyage was done at USD 6,250 and the NOPAC round remaining at USD 6,750 levels. There were more bagged rice orders to W.Africa ex ECI/SEASIA for owners to go back in Atlantic and we heard a modern vessels landing USD 6,500 basis N.China/Jpn delivery to Continent. PG/WCI was stronger with rates around USD 10/11,000 for trips ex Iran to SEASIA/China. Short period marginally better at around USD 8,250 per day levels.

Dry Bulk - Chartering

Dry Bulk - Chartering

Dry Bulk - Chartering

Dry Bulk - Chartering

8

Baltic Indices – Dry Market (*Friday’s closing values)

Index Week 22 Week 21 Change (%)

BDI 809 826 -2,06

BCI 1336 1350 -1,04

BPI 795 854 -6,91

BSI 871 857 1,63

BHSI 533 546 -2,38

T/C Rates (1 yr - $/day)

Type Size Week 22 Week 21 Change (%)

Capesize 160 / 175,000 10500 10600 -0,94

Panamax 72 / 76,000 8000 8000 0,00

Supramax 52 / 57,000 8250 9000 -8,33

Handysize 30 / 35,000 8250 8000 3,13

Average Spot Rates

Type Size Route Week 22 Week 21 Change %

Capesize 160 / 175,000

Far East – ATL -9000 -9000 -

Cont/Med – Far East 18500 18750 -1,33

Far East RV 7500 7400 1,35

TransAtlantic RV 3700 4000 -7,50

Panamax 72 / 76,000

Far East – ATL 70 100 -30,00

ATL / Far East 13500 14000 -3,57

Pacific RV 6500 6500 0,00

TransAtlantic RV 7500 7500 0,00

Supramax 52 / 57,000

Far East – ATL 4250 4100 3,66

ATL / Far East 17750 17750 0,00

Pacific RV 9000 9250 -2,70

TransAtlantic RV 11750 11500 2,17

Handysize 30 / 35,000

Far East – ATL 5000 4500 11,11

ATL / Far East 12000 12500 -4,00

Pacific RV 6250 6250 0,00

TransAtlantic RV 9500 9500 0,00

Dry Bulk - Chartering

9

ANNUAL

MARCH 2013 – MAY 2013

Dry Bulk - Chartering

10

Dry Bulk - Chartering

Capesize Routes – Atlantic 2012 / 13

$0,00

$5.000,00

$10.000,00

$15.000,00

$20.000,00

$25.000,00

$30.000,00

$35.000,00

$40.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

C2 TUB/ ROT

C4RBAY /ROTC7 BOL/ ROT

C8 T/ARV

AVGALL TC

Capesize Routes – Pacific 2012 / 13

$0,00

$10.000,00

$20.000,00

$30.000,00

$40.000,00

$50.000,00

$60.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

C3 TUB /PRC

C5 WAUST /PRC

C9 CONT /FE

C10 FE R/V

Panamax Routes – Atlantic 2012 / 13

0

5000

10000

15000

20000

25000

30000

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

P1A T/A RV

P2ACONT/FE

11

Dry Bulk - Chartering

Panamax Routes – Pacific 2012 /13

$5.000,00

$0,00

$5.000,00

$10.000,00

$15.000,00

$20.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55

P3A FE R/V

P4 FE/CON

AVG ALL TC

Supramax Routes – Atlantic 2012 /13

0

5000

10000

15000

20000

25000

30000

35000

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

S1A CON / FE

S1B BSEA / FE

S4A USG /CONT

S4B CONT /USG

S5 WAFR / FE

Supramax Routes – Pacific 2012 / 13

$0,00

$2.000,00

$4.000,00

$6.000,00

$8.000,00

$10.000,00

$12.000,00

$14.000,00

$16.000,00

$18.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

S2 FE R/V

S3 FE / CON

AVG ALL TC

12

VLCC: Rates on Middle East – Far East declined last week with an average of ws33, furthermore the Atlantic

route has also declined by ws2.5. The WAFR-FEAST route declined by 1.5 points, to conclude at ws38.5.

Suezmax: WAFR-USAC remained stable last week and concluded at ws55. The B.SEA-MED declined by 6.5 points

and concluded at ws66.5.

Aframax: The AG-East declined and concluded at ws72.5, the NSEA-UKC route remained stable at ws80 as per

last. The MED-MED route declined last week by 5 points to conclude at ws67.5.

Panamax: The CBS-USG route has improved by 10 points at ws115.

Products: USG-Cont route declined by 5 points and concluded at ws100. The CONT-TA route has suffered a

decline of 26.5 points to conclude at ws143.5.

Baltic Indices – Wet Market (*Friday’s closing values)

Index Week 22 Week 21 Change (%)

BCTI 589 594 -0,84

BDTI 612 606 0,99

T/C Rates (1 yr - $/day)

Type Size Week 22 Week 21 Change (%)

VLCC 300.000 18,250 18,000 1,39

Suezmax 150.000 15,750 15,750 0,00

Aframax 105.000 13,500 13,500 0,00

Panamax 70.000 14,500 14,500 0,00

MR 47.000 14,000 14,000 0,00

Tanker - Chartering

13

Crude Tanker Average Spot Rates

Type Size (Dwt) Route Week 22 WS

Week 21 WS

Change %

VLCC

280,000 AG – USG 27.5 23.5 17,02

260,000 W.AFR – USG 42.5 37.5 13,33

260,000 AG – East / Japan 47.5 40 18,75

Suezmax

135,000 B.Sea – Med 60 60 0,00

130,000 WAF – USAC 52.5 52.5 0,00

Aframax

80,000 Med – Med 72.5 72.5 0,00

80,000 N. Sea – UKC 80 80 0,00

80,000 AG – East 72.5 75 -3,33

70,000 Caribs – USG 115 115 0,00

Product Tanker Average Spot Rates

Type Size (Dwt) Route Week 22 WS

Week 21 WS

Change %

Clean

75,000 AG – Japan 73 73 0,00

55,000 AG – Japan 93.75 93 0,81

38,000 Caribs – USAC 130 130 0,00

37,000 Cont – TA 132.5 137.5 3,64

Dirty

55,000 Cont – TA 100 95 5,26

50,000 Caribs – USAC 112.5 112.5 0,00

Tanker - Chartering

14

VLCC Trading Routes 2012 / 13

0,00

10,00

20,00

30,00

40,00

50,00

60,00

70,00

80,00

1 3 5 7 9 1113 15 17 1921 23 25 2729 31 33 35 3739 41 43 4547 49 51 5355 57 59 6163 65

AG EAST JAPAN

AG - USG

WAFR - USG

Suezmax Trading Routes 2012 / 13

0,00

20,00

40,00

60,00

80,00

100,00

120,00

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65

B. SEA - MED

WAF - USAC

Aframax Trading Routes 2012 / 13

0,00

20,00

40,00

60,00

80,00

100,00

120,00

140,00

160,00

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65

MED - MED

N.SEA - UKC

AG - EAST

CARIBS USG

Tanker - Chartering

15

Clean Trading Routes – 2012 / 13

0,00

50,00

100,00

150,00

200,00

250,00

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65

AG - JAPAN (75,000)

AG - JAPAN (55,000)

CARIBS - USAC (37,000)

CONT - TA (37,000)

Dirty Trading Routes – 2012 / 13

0

20

40

60

80

100

120

140

160

180

200

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65

CONT - TA (50,000)

CARIBS - USAC(50,000)

Tanker - Chartering

16

Shipping Stocks

Commodities

Commodity Week 22 Week 21 Change (%) Brent Crude (BZ) 101,98 104,28 -2,21

Natural Gas (NG) 4,01 4,17 -3,84

Gold (GC) 1396 1383 0,94

Copper 335,65 331,95 1,11

Wheat (W) 320,03 318,10 0,61

Dry Bulk

Company Stock Exchange Week 22 Week 21 Change % Baltic Trading Ltd (BALT) NYSE 3,65 3,88 -5,93

Diana Shipping Inc (DSX) NASDAQ 10,13 10,06 0,70

Dryships Inc (DRYS) NASDAQ 1,85 1,91 -3,14

Euroseas Ltd (ESEA) NASDAQ 1,11 1,14 -2,63

Excel Maritime Carriers (EXM) NYSE 0,52 0,54 -3,70

Eagle Bulk Shipping Inc (EGLE) NASDAQ 4,37 4,64 -5,82

Freeseas Inc (FREESE) NASDAQ 0,61 0,64 -4,69

Genco Shipping (GNK) NYSE 1,58 1,69 -6,51

Navios Maritime (NM) NYSE 5,41 5,28 2,46

Navios Maritime PTN (NMM) NYSE 13,84 14,77 -6,30

Paragon Shipping Inc (PRGN) NASDAQ 4,64 4,91 -5,50

Star Bulk Carriers Corp (SBLK) NASDAQ 5,89 6,08 -3,13

Seanergy Maritime Holdings Corp (SHIP) NASDAQ 1,56 1,65 -5,45

Safe Bulkers Inc (SB) NYSE 5,17 5,48 -5,66

Golden Ocean (GOGL) Oslo Bors (NOK) 6,50 5,93 9,61

Tankers Capital Product Partners LP (CPLP) NASDAQ 9,18 9,02 1,77

TOP Ships Inc (TOPS) NASDAQ 1,43 1,56 -8,33

Tsakos Energy Navigation (TNP) NYSE 4,86 4,96 -2,02

Other

Aegean Maritime Petrol (ANW) NYSE 9,72 8,25 17,82

Danaos Corporation (DAC) NYSE 4,32 4,25 1,65

StealthGas Inc (GASS) NASDAQ 10,57 9,70 8,97

Rio Tinto (RIO) NYSE 42,72 43,54 -1,88

Vale (VALE) NYSE 14,40 15,51 -7,16

ADM Archer Daniels Midland (ADM) NYSE 32,23 33,88 -4,87

BHP Billiton (BHP) NYSE 65,32 66,73 -2,11

Financial Market Data

17

Currencies

Week 22 Week 21 Change (%) EUR / USD 1,29 1,29 0,00

USD / JPY 100,45 101,29 -0,83

USD / KRW 1131 1128 0,27

USD / NOK 5,87 5,83 0,69

Bunker Prices

IFO 380 IFO 180 MGO Piraeus 600 630 890

Fujairah 608 670 1003

Singapore 595 607 847

Rotterdam 578 604 842

Houston 575 605 945

Port Congestion*

Port No of Vessels

China Rizhao 17

Lianyungang 33

Qingdao 84

Zhanjiang 27

Yantai 31

India

Chennai 13

Haldia 16

New Mangalore 8

Kakinada 11

Krishnapatnam 12

Mormugao 15

Kandla 22

Mundra 16

Paradip 14

Vizag 34

South America

River Plate 435

Paranagua 107

Praia Mole 19

* The information above exhibits the number of vessels, of various types and sizes, that are at berth, awaiting anchorage, at

anchorage, working, loading or expected to arrive in various ports of China, India and South America during Week 22 of year

2013.

Financial Market Data / Bunker Prices / Port Congestion