WEEKLY SHIPPING

MARKET REPORT WEEK 5

- 29th January – to 4th February 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

Euro May Hit 3-Week Low, Credit Suisse Says

The euro may fall to its lowest level against the dollar in almost three weeks after failing to break a key level of resistance, according to Credit Suisse Group AG. The 17-nation currency, which has gained 1.8 percent versus the greenback during the past two weeks, will target a support level of $1.3490 after failing to increase past $1.3711, Cilline Bain, a London-based technical analyst at Credit Suisse, wrote today in a client note. The euro might fall to $1.3257, its lowest level since Jan. 16, if it breaks through that support, Bain said.“The market is fairly overextended with the extent of the rally over the last couple of weeks,” Bain said in a telephone interview. “The short-term upper trend line at $1.3490 is probably a natural area for the market to target on the corrective dip.” The 17-nation currency decreased 0.6 percent to $1.3559 at 10:30 a.m. in New York after falling as much as 0.7 percent, the most since Jan. 18. The euro reached $1.3711 on Feb. 1, its highest level since November 2011. A break above the resistance zone from $1.3711 to $1.3727 may result in a move higher to $1.3835, Bain said. That would be the euro’s highest level since November 2011. Credit Suisse has a year-end forecast of $1.40, according to data compiled by Bloomberg. The European Central Bank will make its next policy decision on Feb. 7. The ECB, which has held its refinancing rate at 0.75 percent since July, will make no change, according to the median forecast of 58 economists surveyed by Bloomberg. “I would expect the catalyst for this whole corrective phase, if we were to see a deeper sell-off, to be the ECB,” Bain said. In technical analysis, investors and analysts study charts of trading patterns and prices to forecast changes in a security, commodity, currency or index. Resistance refers to an area on a chart where sell orders may be clustered. Support is an area where there may be buy orders. ( Bloomberg)

Trafigura to Spend $68 Million on Australian Import Terminal

Trafigura Beheer BV, the world’s third-largest independent oil trader, said its Puma Energy unit will spend A$65 million ($68 million) to develop a petroleum import terminal in Australia, following a deal that doubles its number of petrol stations in the country. The terminal at the Port of Mackay in Queensland state is part of a transaction last month to acquire Neumann Petroleum and its more than 120 service stations. Puma expects to build more terminals in states including Western Australia as the nation boosts its reliance on fuel imports, Ray Taylor, Puma’s general manager for Australia, said today in a phone interview. “The changing dynamics in terms of supply is one of the factors that makes this an attractive market,” Taylor said. “With refineries closing and demand continuing to increase, the percentage of product from overseas is going to go up.” Puma is also purchasing Ausfuel, owner of the Gull, Choice and Peak service stations, the Singapore-based company said today in a statement, without disclosing the terms. Puma will pay Ausfuel about A$625 million ($652 million), said a person with knowledge of the matter. The deal, adding 110 retail sites in Australia, will make Trafigura Australia’s largest independent fuel retailer. Trafigura’s investments in

Australia follow decisions by Royal Dutch Shell Plc (RDSA) and Caltex Australia Ltd. (CTX) to close refineries. Caltex, half-owned by San Ramon, California-based Chevron Corp. (CVX), said last year it plans to halt refining at its unprofitable Kurnell plant in Sydney in the second half of 2014. Shell, Europe’s largest energy company, stopped processing at its Clyde refinery last year, saying the plant was no longer competitive against Asian “mega-refineries.” “It’s inevitable we’ll see further rationalization in the refining industry in Australia,” Taylor said. (Bloomberg)

U.S. Banks See Stronger Demand For Loans

U.S. banks reported stronger demand for business, home and auto loans over the winter, a sign of health for the economy despite its slowdown at the end of last year. The Federal Reserve, in its quarterly survey of senior bank loan officers on Monday said demand for consumer lending -- particularly for home loans -- was up strongly toward the end of December and early last month. The report provides a positive sign for the U.S. economy, which contracted 0.1% in the fourth quarter of last year. Despite concerns about the so-called fiscal cliff, potential cuts to the federal budget and overall uncertainty about spending policies in Washington, American consumers have become more willing to borrow and spend in recent months. The housing market, meanwhile, has shown signs of life of late and retail sales have improved. The Fed surveyed 68 domestic lenders and 22 U.S. branches of foreign banks between Dec. 27. and Jan. 15. Nearly 31% of banks surveyed said demand for business loans from mid-sized and large firms grew, up from 20% last fall. Meanwhile, 26% of the surveyed banks said loan demand from small firms increased, compared with about 21% last fall. The survey found that "demand for business loans, prime residential mortgages and auto loans had strengthened, on balance, while demand for other types of loans was about unchanged," the central bank said. Among the banks surveyed, nearly 34% said demand for home loans made to purchase homes strengthened, compared with 39% in the prior quarter. Banks reported little change in their standards for home loans. But they eased standards on auto loans amid increasing demand. Source( Dow Jones)

Egypt’s Egas to Award LNG Import License Within Two Weeks

Egypt will award a license to import liquefied natural gas within two weeks as the nation’s users prepare to buy in the fuel for the first time. Egyptian Natural Gas Holding Co., or Egas, will probably award the license to more than one of the five companies that offered bids in the tender that closed yesterday, Sherif Soussa, the state-run company’s chairman, said today in a telephone interview from Cairo.The nation’s industrial users will be allowed to import a maximum of 1 billion cubic feet of natural gas daily starting in the second half of 2013, Oil Minister Osama Kamal said in November. Egypt was previously an exporter of the fuel. Source(Bloomberg)

Shipping , Commodities & Financial News

2

Interest still firm despite Chinese festivities

The Sales and Purchases activity continued as per last weeks’ volatility. The instability of the market has led the buyers to

calm down and chose their steps very carefully. The dry market was not as active as the previous week, with a small

number of vessels being reported sold, with preference to panamax vessels continuing to be firm. The wet sector was not

so active as well, with only a couple of vessels reported sold.

Shiptrade’s enquiry Index has slowed down even further this week. Although we have seen a wide variety of enquiries

showing that the interest for Handysize and Handymax vessels built late 90ies up to modern remains firm. Also modern

Panamax vessels continue to attract the buying interest. In the wet sector MR tankers built late 90ies up to modern, remain

of interest together with modern Aframax tankers.

NEWBUILDINGS

In the newbuilding market, we have seen 23 vessels reported to have been contracted.

5 Bulk Carriers (Supramax, Kamsarmax)

10 Tankers (MR)

8 Containers (3.900 TEU)

DEMOLITION

The demolition market continued in the same levels as per previous week. Subcontinent region is volatile, due to the

massive purchases in the previous weeks and because the rupee remains weak. On the other hand the Chinese market

remains bullish paying about USD 400/LT. However we expect that the next two weeks will be more quiet and not be as

firm because of the Chinese New Year holidays.

Sale & Purchase

3

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

Bulk Carriers

Week 4 Week 4 Change %

Capesize 27 27 0.00

Panamax 19 19 0.00

Supramax 19 19 0.00

Handysize 15 15 0.00

Tankers

VLCC 56 56 0.00

Suezmax 40 40 0.00

Aframax 24 24 0.00

Panamax 25 25 0,00

MR 23 23 0.00

Weekly Purchase Enquiries

SHIPTRADE P/E WEEKLY INDEX

0

50

100

150

200

250

300

350

400

27/1

2/2

011-9

/1/2

01

210-1

6/1

/2012

17-2

3/1

/2012

24-3

0/1

/2012

31/1

-6/2

/2012

7-1

3/2

/20

12

14-2

0/0

2/2

012

21-2

7/0

2/2

012

28/2

-5/0

3/2

012

6-1

2/0

3/2

012

13-1

9/0

3/2

012

20-2

6/0

3/2

012

27/3

-2/4

/2012

3-9

/4/2

01

210-1

6/4

/2012

17-2

3/4

/2012

24/4

-1/5

/2012

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

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

Ocean Planet 76.812 2005 Sasebo, JPN 09/2015 B&W - 15.300.000 Greek

Co-Op Phoenix 72.443 1999 Sasebo, JPN 03/2014 B&W - 8.500.000 Undisclosed

Vitaglory 69.703 1989 Imabari, JPN 07/2014 Sulzer - 4.500.000 Chinese

Tarapaca 46.786 2000 Kanasashi, JPN 06/2015 MIT 4 X 30 T 10.500.000 Undisclosed

Pacific Fantasy 29.538 1996 Dalian, CHN 01/2016 B&W 5 X 30 T

Region USD 30 mill En Bloc

Undisclosed Pacific Fighter 29.500 1998 Dalian, CHN 05/2013 B&W 5 X 30 T

Fiesta 29.516 1997 Dalian, CHN 04/2017 B&W 5 X 30 T

Clipper Freeway 29.227 1998 Dalian, CHN 03/2013 B&W 5 X 30 T

Odinbey 28.381 1995 Imabari, JPN 11/2015 B&W 4 X 30 T 6.200.000 Middle East

Shark Bay 26.412 1997 Guangzhu, CHN 01/2017 B&W 4 X 30 T 4.000.000 Greek

Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer

Washusan 281.050 2000 Samsung, KR 10/2015 B&W DH 28.300.000 Greek

Noble Express 51.393 2008 Samsung, KR 12/2013 B&W DH 24.500.000 Undisclosed

Sale & Purchase

5

Newbuilding Orders

No Type Dwt / Unit Yard Delivery Owner Price 3 BC 81.000 Japan Marine 2014 Jebsen 30 mill

2 BC 58.000 Tsuneishi Cebu 2014/2015 Ugland -

6 + 4 Tanker 51.300 SPP 2014 Metrostar -

4 + 4 Container 3.900 Dalian 2013/2014 Pacific International Lines -

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

Newbuilding Resale Prices

Bulk Carriers

Capesize 45 36

Panamax 31 26

Supramax 29 25

Handysize 23 20

Tankers

VLCC 88 82

Suezmax 56 55

Aframax 45 38

Panamax 40 36

MR 32 31

Newbuilding Resale Prices

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

Newbuildings

6

Demolition Sales

Vessel Type Built Dwt Ldt Buyer Country Price Fu Xiang BC 1984 37.489 7.609 Bangladesh 400

Orkney Spirit Tanker 1993 106.266 16.476 Bangladesh 440

“as is” Hong Kong with approx 800 T bunkers

Alma Ata BC 1999 76.008 15.583 India 440

With approx. 450 T bunkers

Banjo Bridge Container 1998 51.759 17.594 India 465

Concord Container 1994 20.088 6.719 India 450

“as is” Mumbai

Dorian Container 1994 22.426 7.716 India 405

“as is” Singapore wit 150 T bunkers

El Hussain GC 1982 9.420 4.615 India 410

Ntabeni BC 1984 37.425 12.251 India 420

(Woodchip Carrier)

Ocean Triumph BC 1986 45.470 8.609 India 422

Polonio Container 1990 33.221 13.282 India 463

Pwstaniec Listopadowy

BC 1986 33.767 8.410 India 417

Van Amazonas Container 1998 51.805 17.548 India 465

Queensway FSU 1993 159.878 23.128 Pakistan 450

Searose G OBO 1994 83.155 16.825 Pakistan 435

Rosa BC 1984 25.388 5.852 China 385

Plus bunkers

Sunset Bay Container 1998 22.800 8.011 China 409

Taskent BC 2003 75.839 15.688 China 400

Demolition Prices ($ / Ldt)

Bangladesh China India Pakistan

Dry 410 395 415 420

Wet 435 405 425 435

Demolition Prices

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

Demolitions

7

In Brief: Decrease in rates for all sizes Capes: Slow week for Capes The downward trend continued during the week with the BCI ending up at 1454 points declined by 66 points. In the atlantic market, transantlantic round trips, even though some fresh requirements were produced, were fixed bit less than last week at about USD 9,750. Tubara/Qingdao route was slow, yielding TCE at around USD 18,000 whereas fronthaul ex Cont/Med closing at about USD 22,000 reporting a reduction of USD 500/USD 750 compared to last week’s levels. Stability at low levels for pacific basin with the Australian iron ore trade not having sufficient cargoes and the round trips closing at around USD 6,500. Period levels at around mid high 10’s for one year. Panamax: Slow week in both hemispheres. BPI index at the beginning of the week was at 713 points to finally close down by 49 points at 664 on Friday. Another slow week in the Atlantic basin with very few requirements outnumbered by spot tonnage and ballasters from the Pacific. Transatlantic round trips were seen fixing at around USD 6500-7000 levels and a tick more for Baltic rounds. Fronthaul fixtures ex USG and ECSA were very limited and fixtures were mostly seen at about USD 13500 with a ballast bonus of USD about 350K. Pacific was also quite with some Nopac round trips reported fixing at USD around 5500 levels for prompt dates with a ballast bonus of USD 250-270k basis aps whilst EC Aussie fixtures were seen at almost the same levels. Indonesian rounds were reported at USD about 6000 with a ballast bonus of USD 50k. Additionally fixing rates for ECSA round trips were reported at about USD 7000 levels basis dop India-SEAsia. As far as short period market is concerned, it stayed fairly quite as charterers appeared to be very reluctant at this time of year. However there were a few fixture reports for 4/7 months at USD about 7000 daily.

Supramax: Atlantic Stable – Pacific Weak

Not much activity in the Atlantic market for supras in terms of the volume of fixtures, however the paradox was that rates remained strong, especially in the ECSA area. Prospects though are good for the upcoming week with new cargoes entering the market but with charterers being unwilling to fix at the moment. Similarly, the USG slowed down a bit but still there is a shortage in tonnage maintaining fairly good rates. On the Continent nothing has changes, keeping number at the bottom with trips to USG paying around USD 2,500 whereas a number of owners are ballasting their vessels to get better numbers. The Pacific market has another difficult week, with the Indonesian Coal remaining on low volumes due the Chinese New Year. For Indo-India with delivery Mid China rates are expected to be at around USD 4,500, whereas for similar tonnage basis delivery Indonesia rates are around USD 9,000 dop for coal to China. NOPAC rounds have similar fate with not much activity with rates hovering around USD 7,000 aps plus a ballast bonus of USD 250-300k. Some interest from charterers has been observed for short period and rates are around USD 8,000 depending on size and delivery point. Handysize: Further decrease in rates A bad week in both basins with even more decreased rates. The Transatlantic round was done at about USD 7,500 and we saw some bulk sugar orders to Med/Black Sea fixed at USD 32/33 pmt while trips to West Med were fixed at USD 12,000 basis aps. Continent continued to produce low volumes and consequently low rates as well as East Med/Black Sea. Numbers remained at USD 4,5/5,500 for med and around USD 7,000 for PG/India direction. USG was the best position in Atlantic with trips to Black Sea fixed at USD 11,500/12,000. West Africa was not so crowded from vessels and a fixture was reported at USD 10,250 for China on a 36k dwt tonner. In view of the Chinese New Year, Pacific was dead and therefore the round voyage was done at around USD 6,500 while trips ex North China/Korea to ECI at USD 6,500 while the NOPAC round voyage was fixed at USD 6,000.

Dry Bulk - Chartering

8

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

Index Week 4 Week 4 Change (%)

BDI 750 798 -6,02

BCI 1454 1520 -4,34

BPI 664 718 -7,52

BSI 682 711 -4,08

BHSI 449 475 -5,47

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

Type Size Week 4 Week 4 Change (%)

Capesize 160 / 175,000 10750 10500 2,38

Panamax 72 / 76,000 7000 7000 0,00

Supramax 52 / 57,000 8000 8500 -5,88

Handysize 30 / 35,000 6500 6500 0,00

Average Spot Rates

Type Size Route Week 4 Week 4 Change %

Capesize 160 / 175,000

Far East – ATL -8750 -7750 -

Cont/Med – Far East 22000 22750 -3,30

Far East RV 6500 6500 0,00

TransAtlantic RV 9750 10000 -2,50

Panamax 72 / 76,000

Far East – ATL -2000 -1600 -

ATL / Far East 13500 14000 -3,57

Pacific RV 5500 5000 10,00

TransAtlantic RV 6500 6500 0,00

Supramax 52 / 57,000

Far East – ATL 4000 4250 -5,88

ATL / Far East 11250 11600 -3,02

Pacific RV 6500 6500 0,00

TransAtlantic RV 7500 7500 0,00

Handysize 30 / 35,000

Far East – ATL 6000 6500 -7,69

ATL / Far East 9000 9500 -5,26

Pacific RV 7000 7250 -3,45

TransAtlantic RV 7500 7750 -3,23

Dry Bulk - Chartering

9

ANNUAL

NOVEMBER 2012 – FEBRUARY 2013

Dry Bulk - Chartering

10

Dry Bulk - Chartering

Capesize Routes – Atlantic 2011 / 12

$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

C2 TUB/ ROT

C4RBAY /ROTC7 BOL/ ROT

C8 T/ARV

AVGALL TC

Capesize Routes – Pacific 2011 / 12

$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

C3 TUB /PRC

C5 WAUST /PRC

C9 CONT /FE

C10 FE R/V

Panamax Routes – Atlantic 2011 / 12

0

5000

10000

15000

20000

25000

30000

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

P1A T/A RV

P2ACONT/FE

11

Dry Bulk - Chartering

Panamax Routes – Pacific 2011 /12

$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

P3A FE R/V

P4 FE/CON

AVG ALL TC

Supramax Routes – Atlantic 2011 /12

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

S1A CON / FE

S1B BSEA / FE

S4A USG /CONT

S4B CONT /USG

S5 WAFR / FE

Supramax Routes – Pacific 2011 / 12

$-

$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

S2 FE R/V

S3 FE / CON

S7 ECI / CHI

AVG ALL TC

12

VLCC: The VLCC Maket remained bearish with rates from Middle East to Far east easing another 3.9 points to

average ws30.72 while Rates from to USG lost 0.6 points more to average 18.75 points. In the Atlantic basin the

WAFR-FarEast route eased another 1.25 points to average ws33.5

Suezmax: The Atlantic Suezmax despit some negativity managed to gain 2.5 points to ws55 whiloe BSEA-MED

route gainig also 2.5 points to settle at ws62.5

Aframax: The Caribbean market remained stable this week with the CBS-USG route unchanged at ws85 levels.

Northern European markets continued to correct from the recent highs, BALT-UKC corrected by 30 points,

concluding at ws70 and NSEA-UK by 5 points to conclude at ws90. The MED-MED route gained 22.5 points to

conclude at ws100

Panamax: The Caribbean market this week saw some easing of about 5 points to conclude at ws110 for CBS-

USAC. The European market was unchanged however with the CONT-TA route remaining at ws105.

Products: -

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

Index Week 4 Week 4 Change (%)

BCTI 728 646 12,69

BDTI 635 694 -8,50

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

Type Size Week 4 Week 4 Change (%)

VLCC 300.000 19,250 19,750 -2,53

Suezmax 150.000 16,500 16,500 0,00

Aframax 105.000 13,750 13,750 0,00

Panamax 70.000 13,500 13,500 0,00

MR 47.000 13,500 13,500 0,00

Tanker - Chartering

13

Crude Tanker Average Spot Rates

Type Size (Dwt) Route Week 4 WS

Week 4 WS

Change %

VLCC

280,000 AG – USG 18,75 19,5 -3,85

260,000 W.AFR – USG 40,5 37,5 8,00

260,000 AG – East / Japan 31 30,25 2,48

Suezmax

135,000 B.Sea – Med 62,5 60 4,17

130,000 WAF – USAC 55 52,5 4,76

Aframax

80,000 Med – Med 100 77,5 29,03

80,000 N. Sea – UKC 85 90 -5,56

80,000 AG – East 85 85 0,00

70,000 Caribs – USG 62,5 82,5 -24,24

Product Tanker Average Spot Rates

Type Size (Dwt) Route Week 4 WS

Week 4 WS

Change %

Clean

75,000 AG – Japan 80 81,5 -1,84

55,000 AG – Japan 94 99,75 -5,76

38,000 Caribs – USAC 145 140 3,57

37,000 Cont – TA 192,5 165 16,67

Dirty

55,000 Cont – TA 105 105 0,00

50,000 Caribs – USAC 110 115 -4,35

Tanker - Chartering

14

VLCC Trading Routes 2011 / 12

Suezmax Trading Routes 2011 / 12

Aframax Trading Routes 2011 / 12

Tanker - Chartering

15

Clean Trading Routes – 2011 / 12

Dirty Trading Routes – 2011 / 12

Tanker - Chartering

16

Shipping Stocks

Commodities

Commodity Week 4 Week 4 Change (%) Brent Crude (BZ) 116,59 111,63 4,44

Natural Gas (NG) 3,35 3,54 -5,37

Gold (GC) 1670 1692 -1,30

Copper 376,60 368,50 2,20

Wheat (W) 331,42 341,25 -2,88

Dry Bulk

Company Stock Exchange Week 4 Week 4 Change % Baltic Trading Ltd (BALT) NYSE 3,30 3,44 -4,07

Diana Shipping Inc (DSX) NASDAQ 8,80 8,46 4,02

Dryships Inc (DRYS) NASDAQ 2,24 2,13 5,16

Euroseas Ltd (ESEA) NASDAQ 1,01 1,03 -1,94

Excel Maritime Carriers (EXM) NYSE 0,56 0,57 -1,75

Eagle Bulk Shipping Inc (EGLE) NASDAQ 2,02 2,25 -10,22

Freeseas Inc (FREESE) NASDAQ 0,25 0,22 13,64

Genco Shipping (GNK) NYSE 3,36 4,02 -16,42

Navios Maritime (NM) NYSE 3,70 3,70 0,00

Navios Maritime PTN (NMM) NYSE 14,47 14,30 1,19

Paragon Shipping Inc (PRGN) NASDAQ 3,89 3,94 -1,27

Star Bulk Carriers Corp (SBLK) NASDAQ 6,68 7,20 -7,22

Seanergy Maritime Holdings Corp (SHIP) NASDAQ 1,95 1,44 35,42

Safe Bulkers Inc (SB) NYSE 4,06 3,77 7,69

Golden Ocean (GOGL) Oslo Bors (NOK) 5,40 5,19 4,05

Tankers Capital Product Partners LP (CPLP) NASDAQ 8,19 8,03 1,99

TOP Ships Inc (TOPS) NASDAQ 1,00 1,12 -10,71

Tsakos Energy Navigation (TNP) NYSE 4,24 4,08 3,92

Other

Aegean Maritime Petrol (ANW) NYSE 6,76 6,32 6,96

Danaos Corporation (DAC) NYSE 4,09 3,51 16,52

StealthGas Inc (GASS) NASDAQ 8,50 9,90 -14,14

Rio Tinto (RIO) NYSE 58,00 55,85 3,85

Vale (VALE) NYSE 20,52 20,02 2,50

ADM Archer Daniels Midland (ADM) NYSE 28,67 28,64 0,10

BHP Billiton (BHP) NYSE 79,39 76,87 3,28

Financial Market Data

17

Currencies

Week 4 Week 4 Change (%) EUR / USD 1,36 1,33 2,26

USD / JPY 92,80 90,10 3,00

USD / KRW 1095 1058 3,50

USD / NOK 5,45 5,60 -2,68

Bunker Prices

IFO 380 IFO 180 MGO Piraeus 648 685 1015

Fujairah 642 665 1000

Singapore 645 655 965

Rotterdam 638 660 990

Houston 643 720 1048

Port Congestion*

Port No of Vessels

China Rizhao 23

Lianyungang 32

Qingdao 80

Zhanjiang 353

Yantai 71

India

Chennai 10

Haldia 55

New Mangalore 8

Kakinada 40

Krishnapatnam 60

Mormugao 41

Kandla 41

Mundra 22

Paradip 15

Vizag 68

South America

River Plate 184

Paranagua 39

Praia Mole 18

* 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 4 of year

2013.

Financial Market Data / Bunker Prices / Port Congestion