6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3....

17
ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula , Athens, Greece Tel: 210 9659700 - Fax: 210 8996040 Internet Mail [email protected] November 2010 Monthly Report 0 2000 4000 6000 8000 10000 12000 Nov-00 Feb-01 May-01 Aug-01 Nov-01 Feb-02 May-02 Aug-02 Nov-02 Feb-03 May-03 Aug-03 Nov-03 Feb-04 May-04 Aug-04 Nov-04 Feb-05 May-05 Aug-05 Nov-05 Feb-06 May-06 Aug-06 Nov-06 Feb-07 May-07 Aug-07 Nov-07 Feb-08 May-08 Aug-08 Nov-08 Feb-09 May-09 Aug-09 Nov-09 Feb-10 May-10 Aug-10 Nov-10 Baltic Dry Index PRICES TANKERS ($ MIO) 2005 2006 2007 2008 2009 Nov-10 VLCC 5Y 117 117,2 136 155,8 78 87.3 VLCC 10Y 90 95,8 114,5 131 59,5 60.6 SUEZMAX 5Y 75,3 81 95,5 106 57 59.8 AFRAMAX 5Y 63 65,3 70 76,8 40,5 43.6 AFRAMAX10Y 53,9 51,8 60 64,7 23,5 28.5 PANAMAX5Y 48,1 55,5 60,4 61 35,5 39 45K 5Y D/H 46,8 47,3 53 52,7 23,5 27 45K 10Y D/H 38 38,9 44,7 43,2 16 19 45K 20Y 10,1 13,2 12,8 16 4 7.5 PRICES BULKERS ($ MIO) 2005 2006 2007 2008 2009 Nov-10 CAPESIZE 5Y 56,8 81,2 148 45,5 54,5 54 CAPESIZE 10Y 38,2 61,8 103 30 45 39.6 CAPESIZE 15Y 28,2 43 88,5 21 28 23.5 CAPESIZE 20Y 18,5 21,3 60 79 16,5 14 PANAMAX 5Y 29,4 45,4 89 25,5 35 38.9 PANAMAX 10Y 23,8 37 71,5 19 27,5 30.6 PANAMAX 15Y 18,5 27,7 61 12,5 22 22.8 PANAMAX 20Y 10,6 16,1 44 9,2 12 14 SUPRAMAX 5Y 25,4 40 74,5 24 27,5 32.7 HANDYMAX10Y 20,7 32 60,5 18,2 22 25.2 HANDYMAX15Y 16,5 22,1 46 13 17,5 20.5 HANDYMAX20Y 10,1 15,4 36 7,4 11 12.5

Transcript of 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3....

Page 1: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

107-109, Vas. Pavlou Str., GR 166 73, Voula , Athens, Greece Tel: 210 9659700 - Fax: 210 8996040 Internet Mail [email protected]

November 2010

Monthly Report

0

2000

4000

6000

8000

10000

12000

No

v-0

0

Feb

-01

May

-01

Au

g-0

1

No

v-0

1

Feb

-02

May

-02

Au

g-0

2

No

v-0

2

Feb

-03

May

-03

Au

g-0

3

No

v-0

3

Feb

-04

May

-04

Au

g-0

4

No

v-0

4

Feb

-05

May

-05

Au

g-0

5

No

v-0

5

Feb

-06

May

-06

Au

g-0

6

No

v-0

6

Feb

-07

May

-07

Au

g-0

7

No

v-0

7

Feb

-08

May

-08

Au

g-0

8

No

v-0

8

Feb

-09

May

-09

Au

g-0

9

No

v-0

9

Feb

-10

May

-10

Au

g-1

0

No

v-1

0

Baltic Dry Index

PRICES TANKERS ($ MIO)

2005 2006 2007 2008 2009 Nov-10

VLCC 5Y 117 117,2 136 155,8 78 87.3

VLCC 10Y 90 95,8 114,5 131 59,5 60.6

SUEZMAX 5Y 75,3 81 95,5 106 57 59.8

AFRAMAX 5Y 63 65,3 70 76,8 40,5 43.6

AFRAMAX10Y 53,9 51,8 60 64,7 23,5 28.5

PANAMAX5Y 48,1 55,5 60,4 61 35,5 39

45K 5Y D/H 46,8 47,3 53 52,7 23,5 27

45K 10Y D/H 38 38,9 44,7 43,2 16 19

45K 20Y 10,1 13,2 12,8 16 4 7.5

PRICES BULKERS ($ MIO)

2005 2006 2007 2008 2009 Nov-10

CAPESIZE 5Y 56,8 81,2 148 45,5 54,5 54

CAPESIZE 10Y 38,2 61,8 103 30 45 39.6

CAPESIZE 15Y 28,2 43 88,5 21 28 23.5

CAPESIZE 20Y 18,5 21,3 60 79 16,5 14

PANAMAX 5Y 29,4 45,4 89 25,5 35 38.9

PANAMAX 10Y 23,8 37 71,5 19 27,5 30.6

PANAMAX 15Y 18,5 27,7 61 12,5 22 22.8

PANAMAX 20Y 10,6 16,1 44 9,2 12 14

SUPRAMAX 5Y 25,4 40 74,5 24 27,5 32.7

HANDYMAX10Y 20,7 32 60,5 18,2 22 25.2

HANDYMAX15Y 16,5 22,1 46 13 17,5 20.5

HANDYMAX20Y 10,1 15,4 36 7,4 11 12.5

Page 2: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

2

*Excluding demolition sales

Sale and Purchase Market - Second Hand units

Ship Type Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Total

BULK 45 31 32 52 53 73 286

TANK 13 22 23 21 29 40 148

GAS 2 1 1 0 2 11 17

CONT 16 14 3 18 12 13 76

TWEEN 1 1 3 6 0 4 15

REEF 0 1 1 0 1 1 4

RORO 3 3 2 2 0 5 15

FERRY 1 1 1 3 1 3 10

CRUISE 0 0 1 0 0 0 1

Total 81 74 67 102 98 150 572

127

36

122

29

0

40

80

120

160

THIS MONTH - PREVIOUS MONTH

S&P Activity - Tankers(<5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH AV/BLE

PREVIOUS MONTH SALES

371

73337

51

0

100

200

300

400

500

600

THIS MONTH - PREVIOUS MONTH

S&P Activity Dry(<5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH AV/BLE FOR SALE"

PREVIOUS MONTH SALES

Second Hand Tonnage Market

Page 3: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

3

TANKER SALES

893

692 644

826

637

400

500

600

700

800

900

1000

48 51 2 5 8 11 14 17 20 23 26 29 32 35 38 41 44 47

WEEK NO

Baltic Clean Tanker - Yearly

2009 2010

780

1195

931

1110

777

733

550

650

750

850

950

1050

1150

1250

48 51 2 5 8 11 14 17 20 23 26 29 32 35 38 41 44 47

WEEK NO

Baltic Dirty Tanker - Yearly

2009 2010

595

703

731

560

610

660

710

760

01/11/2010 08/11/2010 15/11/2010 22/11/2010 29/11/2010

Baltic Clean Tanker - Monthly

775

830

882

843 838

720

770

820

870

01/11/2010 08/11/2010 15/11/2010 22/11/2010 29/11/2010

Baltic Dirty Tanker - Monthly

NAME DWT BLT PRICE $ BUYER

SAN GIORGIO 4661 1997 SINGAPORE DH 5 MIO SAUDI ARABIAN BASED

TRANS VIK 4739 1991 DENMARK DH * ENBLOC BSS▼

TRANS SUND 4794 1991 DENMARK DH 11 MIO GAZPROM, RUSSIA

PAN AGILITY 4836 2005 TURKEY DH 7.3 MIO GREEK

FORTH BRIDGE 5800 1992 GR. BRITAIN DH 2 MIO UNDISCLOSED

GOLDEN EMERALD 6436 2008 CHINA DH 6 MIO GREEK (AUCTION IN HONG KONG)

SUNRISE ROSA 8626 2004 JAPAN DH 11 MIO KOREAN

GOLDEN KAORI 9224 1998 JAPAN DH 5.5 MIO INDONESIAN

GOLDEN ELIZABETH 16322 1997 JAPAN DH 7.5 MIO EUROPEAN

VENUS 7 16933 1986 JAPAN DH 1.36 MIO UNDISCLOSED

CHEM TAURUS 19399 2000 JAPAN DH 15 MIO UNDISCLOSED

GOLDEN CHARLOTTE 19717 2006 JAPAN DH * ENBLOC BSS▼

GOLDEN IVY 23324 2008 JAPAN DH * ENBLOC BSS▼

GOLDEN LEGEND 23432 2009 JAPAN DH 90 MIO NORWEGIAN BUYERS

STOLT NANAMI 19932 2003 JAPAN DH 22.5 MIO MTMM , SINGAPORE

STOLT STRENGHT 33209 2005 JAPAN DH * ENBLOC BSS▼

STOLT GLORY 33302 2005 JAPAN DH 69 MIO STOLT NIELSEN, NORWAY

BOW CENTURY 37438 2000 NORWAY DH * ENBLOC BSS▼

BOW FAVOUR 37467 2001 NORWAY DH 105 MIO STOLT NIELSEN, NORWAY

MOUNT MCKINNEY 39997 2004 JAPAN DH 24.9 MIO UNDISCLOSED

TRUST RUNNER 47059 1992 KOREA DH 8 MIO UNDISCLOSED

SLS SHIPBUILDING 496 49700 2010 KOREA DH 38 MIO EGYPTIAN

SKIROPOULA 68232 1995 UKRAIN DH 12 MIO DUBAI BASED

SAGAMORE 68536 1991 JAPAN DH 7.4 MIO UNDISCLOSED

SUMMIT ASIA 73410 2009 CHINA DH 43.4 MIO NORWEGIAN (INCL 7 YRS TC BACK)

Page 4: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

4

TANKER SALES

NAME DWT BLT PRICE $ BUYER

GENMAR ALEXANDRA 102262 1992 JAPAN DH 11.5 MIO UNDISCLOSED PRISCO MIZAR 166468 2007 KOREA DH 67 MIO MINERVA MARINE, GREECE PRISCO ALCOR 166546 2007 KROEA DH 67 MIO MINERVA MARINE, GREECE PACIFIC SUPERIOR 269605 1994 JAPAN 16.5 MIO UNDISCLOSED ALPHARD STAR 301858 1995 DENMARK * ENBLOC BSS▼ SUHAIL STAR 301862 1994 DENMARK 54 MIO OGX PETROLEUM, BRAZIL (FOR CONVERSION) PACIFIC LAGOON 305839 1999 JAPAN DH 55 MIO GRAND CHINA TANKERS, CHINA

GAS SALES

NAME DWT BLT CBM PRICE $ BUYER

JOYAMA 49999 1986 JAPAN 80863 10 Mio UNDISCLOSED KINNA 3239 1989 KOREA 3932 3.2 Mio LUCKY MARINE, THAILAND LADY BARBARA 3953 1990 JAPAN 3444 3.5 Mio UNDISCLOSED SUNWAY 48980 1991 JAPAN 78476 14 Mio UNDISCLOSED NOTO GLORIA 49412 1992 JAPAN 75203 15 Mio SIAM GAS, THAILAND ORIENTAL SKY 3235 1995 JAPAN 3138 5.2 Mio KOREAN

IRIS GLORY 54707 2008 KOREA 83872 * ENBLOC BSS▼ THETIS GLORY 54789 2008 KOREA 81992 * ENBLOC BSS▼ VENUS GLORY 54474 2008 KOREA 83000 72 Mio AVANCE GAS, NORWAY

2895036300

120003500

13500

23500

33500

43500

53500

63500

73500

Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10

$/D

ay

Spot Market - TankersVLCC

SUEZMAX

AFRAMAX

3100026000

18000

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

50000

Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10

$/D

ay

Period Market - Tankers 1 Year T/C

VLCC

SUEZMAX

AFRAMAX

Page 5: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

5

BULKER SALES

NAME DWT BLT GEAR PRICE $ BUYER

SIROCCO 5196 1997 CHINA CR 2X40 2.7 Mio UNDISCLOSED

ARTNE 6262 1992 JAPAN CR 2X25 * ENBLOC BSS▼ CIC BELEM 6262 1992 JAPAN CR 2X25 6 Mio INDIAN

YASEMIN 6830 1996 JAPAN CR 2X15 4 Mio UNDISCLOSED LEHMANN FORESTER 8500 2008 CHINA CR 2X35 4.23 Mio UNDISCLOSED ID HARMONY 23712 1995 JAPAN CR 4X25 14.5 Mio UNDISCLOSED LADYTRAMP 24765 2001 CHINA CR 4X30 15 Mio GREEK

GLOBAL DIAMOND 24834 1997 JAPAN CR 4X31 13.5 Mio TAIWANESE INCL TCB

FR 4+1YRS AT $10K PD ROYAL CRYSTAL 24872 1984 JAPAN CR 4X25 6.25 Mio CHINESE SANTA CHRISTINA 25378 1996 JAPAN CR 4X30 13.8 Mio UNDISCLOSED IDEFIX BULKER 27348 1996 CHINA CR 4X30 15.5 Mio UNDISCLOSED

JAG VIKRAM 27463 1980 JAPAN CR 4X25, CR

1X15 3 Mio UNDISCLOSED

BRAZILIAN CONFIDENCE 27939 1985 JAPAN CR 3X25 7.2 Mio UNDISCLOSED

ELIKON 28234 1980 JAPAN CR 5X15 3.1 Mio FAREASTERN AGIOS MINAS 29002 1981 JAPAN CR 5X25 4.1 Mio CHINESE ARGUS 29099 1984 JAPAN CR 4X25 6.5 Mio TURKISH ORIENT SAORI 30835 1997 JAPAN CR 4X30 19.5 Mio NEGMAR, TURKEY VOYAGER 33347 1985 JAPAN CR 4X25 8.5 Mio UNDISCLOSED SHINAN H1008 34000 2010 JAPAN CR 4X25 32.5 Mio KOREAN

887828

796

600650700750800850900950

100010501100

01/11/2010 08/11/2010 15/11/2010 22/11/2010 29/11/2010

Baltic Handysize

2

1628

1532

1389

1443

1300

1400

1500

1600

1700

1800

01/11/2010 08/11/2010 15/11/2010 22/11/2010 29/11/2010

Baltic Supramax

2

2287

2432

2038

2330

1500

1700

1900

2100

2300

2500

2700

2900

01/11/2010 08/11/2010 15/11/2010 22/11/2010 29/11/2010

Baltic Panamax

4

4011

3612

3593

3095

2000

2500

3000

3500

4000

4500

5000

01/11/2010 08/11/2010 15/11/2010 22/11/2010 29/11/2010

Baltic Capesize

44 4438

Page 6: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

6

NORTHERN DANCER 35000 2010 CHINA CR 4X30 * ENBLOC BSS▼ RAINBOW QUEST 35000 2010 CHINA CR 4X30 * ENBLOC BSS▼ LAST TYCOON 35000 2011 CHINA CR 4X30 * ENBLOC BSS▼

SHANHAIGUAN 035 35000 2011 CHINA CR 4X30 112 Mio NAVIBULGAR, BULGARIA

HYUNDAI MIPO 6018 37000 2011 KOREA CR 4X30 29 Mio GREEK FEROI 37092 1983 JAPAN CR 5X25 6.3 Mio UNDISCLOSED IONIAN WIND 37925 1984 JAPAN CR 4X25 8.5 Mio GREEK EAST SUNRISE GUANGZHOU

38030 1984 JAPAN CR 4X25 7.5 Mio UNDISCLOSED

PAMAKARISTOS 38398 1986 JAPAN CR 4X25 10.5 Mio UNDISCLOSED INCL

TC TILL 6/2011 AT USD 15.000PD

SILKY OCEAN 45665 1995 JAPAN CR 4X25 21.6 Mio GREEK NEW ETERNITY 45741 1994 JAPAN CR 4X25 20.5 Mio GREEK SAMMI SUPERSTARS 47208 1983 KOREA CR 4X25 6.1 Mio CHINESE C. S. FORTUNE 47305 2002 JAPAN CR 4X30 29 Mio GREEK SYRENA 48139 1997 POLAND CR 4X35 21.5 Mio BANGLADESHI NORD BRAVE 53529 2007 JAPAN CR 4X30.5 37 Mio VOSCO, VIETNAM MEDI CORK 53552 2004 JAPAN CR 4X30.5 33 Mio VOSCO, VIETNAM DELMAR 53565 2006 CHINA CR 4X30 25 Mio UNDISCLOSED

MATUMBA 53591 2005 CHINA CR 4X35 25 Mio UNDISCLOSED INCL

TC TILL EARLY 2012 AT USD 16.000PD

DELFA 53594 2005 CHINA CR 4X35 25 Mio UNDISCLOSED INCL

TC TILL EARLY 2012 AT USD 16.000PD

CHANE NAVIGATOR 55000 2010 CHINA CR 4X36 30 Mio FAREASTERN

ZHEJIANG ZHENGHE 1019 57000 2010 CHINA * ENBLOC BSS▼

ZHEJIANG ZHENGHE 1020 57000 2010 CHINA 61 Mio NORWEGIAN INCL TC

FR 10 YRS STEFANIA 64848 1981 JAPAN 6.2 Mio CHINESE BRIGHT ZHEJIANG 67281 1983 GR BRITAIN 6.2 Mio CHINESE

MERCURY K 72421 1997 JAPAN 27 Mio TRADA MARITIME, INDONESIA

ETOILE 72424 1997 JAPAN 27 Mio INDONESIAN MARITIME WISDOM 73657 1993 JAPAN CR 4X30 22 Mio CHINESE GOLDEN SHADOW 73732 1997 JAPAN 26.7 Mio NORSUL, BRAZIL

RUBY STREAM 76728 2005 JAPAN 38 Mio ODYSEA CARRIERS, GREECE

ENERGY TRADE 77679 1998 JAPAN 25 Mio INDIAN

TORM TRADER 82181 2010 JAPAN * ENBLOC BSS▼ TORM ISLAND 82194 2010 JAPAN 90 Mio UNDISCLOSED

BENEDETTA D'AMATO 92500 2010 CHINA 46 Mio FAREASTERN INCL TC

FR 83-86 MOS AT USD 21.000PD

PEACE VOYAGE 93000 2010 CHINA 42 Mio UNDISCLOSED

PB EAGLE 94191 1992 JAPAN 18.5 Mio GREEK INCL TC TILL 6-

7/2011 AT USD 16.800PD SONGA PEAK 151418 1990 JAPAN 20 Mio UNDISCLOSED IRON BROTHERS 151511 1991 JAPAN 19 Mio UNDISCLOSED KWK GENESIS 168404 1996 KOREA 28 Mio GREEK GOLDEN CHANGI 170500 2011 KOREA 61 Mio KOREAN CASTILLO DE SAN JUAN 173329 1990 BRAZIL 18 Mio CHINESE

GOLDEN QUEEN 175918 2010 CHINA 84.9 Mio SALAMON, GERMANY

Page 7: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

7

BLUE ANNAPURNA 180000 2010 CHINA 63.5 Mio GREEK

CARPE DIEM I 181756 1985 JAPAN 15 Mio WINNING SHIPPING, CHINA

HEBEI WISDOM 182212 1986 JAPAN 14 Mio UNDISCLOSED

CONTAINERS SALE

NAME DWT BLT GEAR TEU PRICE $ BUYER

XIN HAI YUAN 8616 1984 JAPAN GLESS 450 1.8 MIO MALAYSIAN VSICO PROMOTE 8516 1999 JAPAN CR 2X36 566 7 MIO SINOKOR, KOREA SIAM 1 15628 1996 JAPAN GLESS 1008 8 MIO FAREASTER CARAVELLE 14643 1996 GERMANY CR 2X45 1122 8.6 MIO UNDISCLOSED ORIENTAL BRIGHT 17468 1996 JAPAN CR 2X35 1228 9.5 MIO UNDISCLOSED

HARMONY 21480 1994 KOREA CR 2X40, CR 1X10

1645 10.5 MIO S. AMERICAN

NORDSTAR 23007 1998 POLAND CR 3X45 1728 14 MIO UNDISCLOSED

POSITANO 22878 1996 POLAND CR 3X40 1730 39.9 MIO HAMMONIA, GERMANY (INCL 2 YRS

TC. DELY 4/2011)

FRISIA KIEL 33847 2004 GERMANY CR 3X45 2478 36 MIO UNDISCLOSED (DELY

1Q/2011) COSCO KARACHI 38104 2005 GERMANY 2702 36 MIO UNDISCLOSED

CMA CGM TELOPEA 37125 2007 POLAND CR 3X45 2785 37.5 MIO EUROMAR, GREECE (INCL TC TILL 3-4/2011)

NORDIC WARNEMUENDE 163

38670 2011 GERMANY 2790 39.9 MIO HAMMONIA, GERMANY (INCL 2 YRS

TC. DELY 4/2011)

CLIFTON BRIDGE 47539 1988 JAPAN 3720 8.1 MIO GOLDENPORT, GREECE

REEF SALE

NAME DWT BLT CBTF PRICE $ BUYER

WILSON EXPRESS 5864 1983 NORWAY 319989 3.6 MIO WILSON ASA, NORWAY

Page 8: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

8

RORO SALES

NAME GT BLT LANEMTRS/CARS PRICE $ BUYER

MAGOSA 1890 1974 SPAIN 300 LM/114 CARS 0.7 MIO UNDISCLOSED KANO 3641 1972 GERMANY 340 CARS 2.96 MIO UNDISCLOSED KANO II 5877 1978 DENMARK 1028 LM/450CARS 2.8 MIO UNDISCLOSED

WEST EXPRESS 9368 1978 NORWAY 1272 LM/ 56 CARS 1.4 MIO TURKISH (FOR

CONVERSION)

27700

14000

0

10000

20000

30000

40000

50000

60000

70000

Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10

$/D

ay

Spot Market - BulkersCAPESIZE

PANAMAX

HANDYMAX

30000

20500

15000

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10

$/D

ay

Period Market - Bulkers 1 Year T/CCAPESIZE

PANAMAX

HANDYMAX

44

Page 9: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

9

Dry Bulk Orderbook

Ship Type 2010 (deliv) 2010 2011 2012 2013 2014 2015+ Total

VLOC 18 6 42 41 14 1 0 104

Capesize 151 41 252 108 39 3 1 444

Small Cape 71 18 182 67 13 0 0 280

Panamax 86 54 276 280 74 10 0 694

Supramax 252 111 390 231 50 1 0 783

Handys 191 92 314 157 40 6 0 609

Total 769 322 1456 884 230 21 1 2914

Tanker Orderbook

Ship Type 2010 (deliv) 2010 2011 2012 2013 2014 2015+ Total

ULCC/VLCC 59 13 77 63 32 9 0 194

Suezmax 32 16 56 57 21 4 0 154

Aframax 62 14 78 50 9 3 0 154

Panamax 30 6 41 17 10 2 0 76

MR 95 32 112 68 9 0 0 221

Handy 19 7 27 10 2 1 0 47

Total 297 88 391 265 83 19 0 846

LPG Tank Orderbook

Ship Type 2010 (deliv) 2010 2011 2012 2013 2014+ Total

VLGC 8 1 3 2 2 0 8

LGC 0 0 0 0 0 0 0

MR 3 0 6 2 0 0 8

Handy 9 2 8 9 10 1 30

Small 28 22 30 8 2 3 65

Total 48 25 47 21 14 4 111

36.5

0

20

40

60

80

100

120

140

160

Nov-08 Mar-09 Jul-09 Nov-09 Mar-10 Jul-10 Nov-10

$m

Tanker Prices VLCC Suezmax

Aframax MR

105.51

57

67

5

3

0

10

20

30

40

50

60

70

80

90

100

Nov-08 Mar-09 Jul-09 Nov-09 Mar-10 Jul-10 Nov-10$m

Bulker Prices Capesize Panamax

Handymax Handysize

57.3

34.5

31

26.5

New building Market and Reported Contracts

Page 10: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

10

398

80

191

931

191

857

179

7

112

0

100

200

300

400

500

600

700

800

900

1000

2008 2009 Nov-10

No

. of

Ve

ss

els

Newbuilding Sales Tankers >10,000 dwt

Bulkers >10,000 dwt

Containerships

61,8

23,7

15,9

6,1

19,3

0

10

20

30

40

50

60

70

30/11/2010

m. d

wt

Tanker Newbuildings on Order VLCC Suezmax

Aframax Panamax

Products129,5

71,9

45,1

26,8

0

20

40

60

80

100

120

140

30/11/2010

m. d

wt

Bulker Newbuildings on Order Capesize Panamax

Handymax Handysize

31,2

120,3 121,3

14,6

61,3

52,7

0

20

40

60

80

100

120

140

Nov-10 2011 2012+

m. d

wt

Delivery Schedule Bulkers >10,000 dwt.

Tankers >10,000 dwt

Newbuilding Historical Prices ($m)

Tankers 2010 2009 2008 2007 2006 2005 2004 2003 2001 1995 1990 1988 1985

310,000 DWT1 105.7 97.5 150 145 130 120 108 77.1 69.9 85.3 87.4 70.1 238.2

170,000 DWT1 66.8 61 90 90 80 71.5 71 51.4 46.3 54 66.1 44.8 228.2

110,000 DWT1 56 49.5 74 72 65.5 58 60 41.4 36.3 43.3 53.2 235.2 218.1

47,000 DWT1 35.9 35 46.5 52 47 43 39 31.4 26.2 33.2 332.1

325.2

313.3

Bulkers

180,000 DWT1 57.6 55.5 87 96 67 58.5 64.5 48.2 35.8 42.3 60.2 42.1 29.3

73,000 DWT1 34.5 34.5 45.5 54 39.5 36 37 27.1 20.3 27.9 30 25.1 13.4

45,000 DWT 30.8 29 41 47.5 37 31 30 24.1 18.4 24.1 25.3 23.1 12.4

29,000 DWT 26.5 24.5 31 34 27.5 25.5 24 18.1 14.2 19.2 21.3 18.4 9.7

1 Before 2001 sizes to read 280,000 - 140,000 - 95,000 - 40,0000 respectively for tankers and 150,000 - 69,000 for Bulkers

2 Single Hull 3 30,000 DWT

(note: above is for vessels built Japan / Korea, you should also consider US$ / Yen relation for the years mentioned)

Page 11: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

11

The Shipbuilding Market

TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES

Bulk 34500 Zhejiang Yangfan 2012 John T.Essberger

Bulk 34500 Zhejiang Yangfan 2012 John T.Essberger

Bulk 35000 Jiangmen Nanyang 2012 25.5 Mio Pacific Basin Shpg.

Bulk 35000 Jiangmen Nanyang 2012 25.5 Mio Pacific Basin Shpg.

Bulk 35000 Jiangmen Nanyang 2012 25.5 Mio Pacific Basin Shpg.

Bulk 35000 Jiangmen Nanyang 2012 25.5 Mio Pacific Basin Shpg.

Bulk 35000 Zhejiang Yangfan 2013 26 Mio Cobelfret N.V.

Bulk 35000 Zhejiang Yangfan 2013 26 Mio Cobelfret N.V.

Bulk 35000 Jiangmen Nanyang 2013 25.5 Mio Pacific Basin Shpg.

Bulk 35000 Jiangmen Nanyang 2013 25.5 Mio Pacific Basin Shpg.

Bulk 35000 Jiangmen Nanyang 2013 25.5 Mio Pacific Basin Shpg. Option

Bulk 35000 Jiangmen Nanyang 2013 25.5 Mio Pacific Basin Shpg. Option

Bulk 36000 Hyundai Mipo 2012 Daiichi Chuo

Bulk 56000 Hyundai Mipo 2012 Ray Shipping

Bulk 56000 Hyundai Mipo 2012 Ray Shipping

Bulk 56000 Hyundai Mipo 2013 Ray Shipping

Bulk 56000 Hyundai Mipo 2013 Ray Shipping

Bulk 57000 COSCO Dalian Apr-12 Unknown

Bulk 57000 COSCO Dalian Sep-12 Unknown

Bulk 57000 COSCO Dalian Mar-13 Unknown

Bulk 58100 Tsuneishi Zhoushan 2013 32.85 Mio Pacific Basin Shpg.

Bulk 59800 Hyundai Vinashin Jan-12 Hyundai M.M.

Bulk 59800 Hyundai Vinashin Feb-12 Hyundai M.M.

Bulk 76000 Jiangnan SY Group May-12 China Shpg. Tramp

Bulk 81200 Dalian Shipbuilding Oct-12 Haibo Shipping

Bulk 81700 Wuchang S.Y. 2012 34 Mio Guangxi Beibu

Bulk 81700 Wuchang S.Y. 2012 34 Mio Guangxi Beibu

Bulk 81700 Wuchang S.Y. 2013 34 Mio Guangxi Beibu Option

Bulk 81700 Wuchang S.Y. 2013 34 Mio Guangxi Beibu Option

Bulk 82000 Beihai Shipyard Sep-12 34.5 Mio First S.S.

Bulk 82000 Beihai Shipyard Sep-12 34.5 Mio First S.S.

Bulk 82000 Beihai Shipyard Feb-13 34.5 Mio First S.S. Option

Bulk 82000 Beihai Shipyard Feb-13 34.5 Mio First S.S. Option

Bulk 95000 Imabari S.B. 2014 Nippon Yusen Kaisha

Bulk 95000 Imabari S.B. 2014 Nippon Yusen Kaisha

Bulk 95000 Imabari S.B. 2015 Nippon Yusen Kaisha

Bulk 105000 Oshima S.B. Co. 2014 Kawasaki Kisen

Bulk 105000 Oshima S.B. Co. 2014 Kawasaki Kisen

Bulk 180000 Hyundai H.I. 2012 Densa Shipping

Bulk 180000 Hyundai H.I. 2012 Densa Shipping Option

Bulk 180000 Shanghai Jiangnan Nov-12 53.08 Mio China Shpg. Tramp

Bulk 180000 Shanghai Jiangnan Nov-12 53.08 Mio China Shpg. Tramp

Bulk 180000 Dalian Shipbuilding Nov-12 Haibo Shipping

Bulk 180000 Shanghai Jiangnan Dec-12 53.08 Mio China Shpg. Tramp

Bulk 180000 Shanghai Jiangnan Dec-12 53.08 Mio China Shpg. Tramp

Bulk 180000 Dalian Shipbuilding Feb-13 Haibo Shipping

Bulk 207000 Daehan S.B Mar-12 63.5 Mio Golden Flame Shpg.

Bulk 207000 Daehan S.B Apr-12 63.5 Mio Golden Flame Shpg.

Cont 11850 Zhejiang Yangfan 2013 18.10 Mio Shandong Int. Trans. 1100 Teu

Cont 11850 Zhejiang Yangfan 2013 18.10 Mio Shandong Int. Trans. 1100 Teu

Cont 11850 Zhejiang Yangfan 2013 18.10 Mio Shandong Int. Trans. 1100 Teu

Cont 11850 Zhejiang Yangfan 2013 18.10 Mio Shandong Int. Trans. 1100 Teu

Cont 11850 Zhejiang Yangfan May-12 18.10 Mio Shandong Int. Trans. 1100 Teu

Cont 11850 Zhejiang Yangfan Aug-12 18.10 Mio Shandong Int. Trans. 1100 Teu

Cont 11850 Zhejiang Yangfan Nov-12 18.10 Mio Shandong Int. Trans. 1100 Teu

Page 12: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

12

The Shipbuilding Market

TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES

Cont 12000 Dae Sun S.B. Nov-11 Shandong Int. Trans. 953 Teu

Cont 12500 Dae Sun S.B. Aug-12 Shandong Int. Trans. 1040 Teu

Cont 12500 Dae Sun S.B. Nov-12 Shandong Int. Trans. 1040 Teu

Cont 41500 Shanghai S.Y. 2012 51 Mio Nile Dutch Africa 3500 Teu

Cont 41500 Shanghai S.Y. 2012 51 Mio Nile Dutch Africa 3500 Teu

Cont 41500 Shanghai S.Y. 2012 51 Mio Nile Dutch Africa 3500 Teu

Cont 41500 Shanghai S.Y. 2012 51 Mio Nile Dutch Africa 3500 Teu

Cont 45000 SPP Plant & S/B 2013 53 Mio Metrostar Management 3500 Teu

Cont 45000 SPP Plant & S/B 2013 53 Mio Metrostar Management 3500 Teu

Cont 45000 SPP Plant & S/B 2013 53 Mio Metrostar Management 3500 Teu

Cont 45000 SPP Plant & S/B 2013 53 Mio Metrostar Management 3500 Teu

Cont 45000 SPP Plant & S/B 2014 53 Mio Metrostar Management 3500 Teu

Cont 45000 SPP Plant & S/B 2014 53 Mio Metrostar Management 3500 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 46000 HHIC-Phil Inc. 2013 Delfis N.V. 3800 Teu

Cont 50000 Sungdong S.B. Sep-12 Unknown 3600 Teu

Cont 50000 Sungdong S.B. Dec-12 Unknown 3600 Teu

Cont 80000 STX Shipbuild. 2013 Shpg. Corp. of India 6500 Teu

Cont 80000 STX Shipbuild. 2013 Shpg. Corp. of India 6500 Teu

Cont 80000 STX Shipbuild. 2013 Shpg. Corp. of India 6500 Teu

Cruise Meyer Werft 2013 850 Mio Norw. Cruise Lines

Cruise Meyer Werft 2014 850 Mio Norw. Cruise Lines

Diving Spt ABG Shipyard 2012 65 Mio Halul Offshore

Gcargo 2500 Highspeed S.B. 2012 Shun Shine

Gcargo 2500 Highspeed S.B. 2012 Shun Shine

Gcargo 2500 Highspeed S.B. 2012 Shun Shine

Jackup Drill ABG Shipyard Jan-14 220 Mio M/s Drilling

Jackup Drill ABG Shipyard Jan-14 220 Mio M/s Drilling

MPP 20000 Hudong Zhonghua Jun-12 Beluga Shpg. GmbH 900 Teu

MPP 20000 Hudong Zhonghua Nov-12 Beluga Shpg. GmbH 900 Teu

MPP 20000 Hudong Zhonghua Mar-13 Beluga Shpg. GmbH 900 Teu

MPP 20000 Hudong Zhonghua Jul-13 Beluga Shpg. GmbH 900 Teu

Ore 300000 Universal S.B. 2012 Mitsui O.S.K. Lines

Ore 300000 Universal S.B. 2013 Mitsui O.S.K. Lines

Pass/Car F. STX Finnyards 2013 337.39 Mio Viking Line Abp

Pass/Car F. Remontowa 2013 36.5 Mio Torghatten Trafikk.

Pass/Car F. Remontowa 2013 36.5 Mio Torghatten Trafikk.

Pass/Car F. Remontowa 2013 36.5 Mio Torghatten Trafikk.

Pass/Car F. Remontowa 2013 36.5 Mio Torghatten Trafikk.

Pass/Car F. STX Finnyards 2014 337.39 Mio Viking Line Abp Option

Tanker 112000 Hyundai H.I. 2012 A.M.P.T.C.

Tanker 112000 Hyundai H.I. 2013 A.M.P.T.C.

Tanker 157000 Jiangsu Rongsheng 2013 Central Mare

Tanker 157000 Jiangsu Rongsheng 2013 Central Mare

Tanker 157000 Jiangsu Rongsheng 2013 61 Mio Top Ships Inc.

Tanker 157000 Jiangsu Rongsheng 2013 61 Mio Top Ships Inc.

Tanker 157000 Jiangsu Rongsheng 2014 Central Mare Option

Tanker 157000 Jiangsu Rongsheng 2014 Central Mare Option

Tanker 164730 Hyundai Samho 2012 Goulandris Bros.

Tanker 164730 Hyundai Samho 2012 Goulandris Bros.

Page 13: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

13

Demolition Market

Demolition historical average prices

380 378413 440

383 387 415 425 432 437 448

180230280330380430480530580630680730780830880

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

$

Tankers 2007 20082009 2010

350 355393 411

337 357 380 393 402 410 423

180230280330380430480530580630680730

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

$

Bulkers2007 2008

2009 2010

13,427

28,6526,9

3825,6

14,54,9

2,354,6

3,815,9

16,718,9

15,518

15,625

30,522,4

28,428,5

2710

5,56,5

512

28,924

0 5 10 15 20 25 30 35 40

198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010

Million dwt

Year

Total Demolition

Demolition Prices

Gen Cargo Tanker

India USD 440 /lt Ldt USD 465/lt Ldt

Bangladesh N/A N/A

Pakistan USD 430 /lt Ldt USD 460/lt Ldt

China USD 400 /lt Ldt USD 420/lt Ldt

Page 14: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

14

India

China

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK GOLDEN LINE 8 6485 1982 2078 385 BULK SOUTHERN ARROW 6549 1984 2014 385 BULK OCEAN BEAUTY 24740 1977 6537 400 BULK STAG 27348 1978 6837 403 BULK JIANMAO 1 127907 1981 20109 405 BULK HS PIONEER 145229 1982 23620 410 PCC SUIJIN 17328 1984 12500 400

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

RORO SPLIT 1700 1118 1966 3551 450 RORO ANCONA 1950 1966 6362 450 RORO DUCKY SYMPHONY 6906 1979 5669 430 TANK IMAN 6237 1986 3163 465 TANK STAR ORION 7089 1985 2305 445 TANK CM SPIRIT 27726 1970 6402 468 Enbloc with MT Phoenix, Torrent

TANK MT PHOENIX 29999 1977 7430 468 Enbloc with CM Spirit, Torrent

TANK TORRENT 15767 1975 3809 468 Enbloc with CM Spirit, MT Phoenix

TANK BOW PANTHER 39422 1986 9536 478

TANK ANNOULA 40490 1982 9749 450 TANK SOUTHWAY 152412 1988 21200 465 TANK SHINYO ALLIANCE 248034 1991 29264 445 GAS BERGE RACINE 63254 1985 460 Incl 70 tonnes St.St. REEF SKIER STAR 12475 1981 7610 440

REEF STORM BAY 11720 1983 6384 420 Asis Fujairah

REEF BALAKLAVA II 3200 1978 3200 428

BULK OCEAN EXPRESS 2250 1978 1045 390

BULK MIKUE 7909 1980 2458 BULK BASIL 76440 1983 14158 435 BULK STAR CARRIER 35218 1983 9170 455 BULK PHUC HAI MOON 34227 1979 7732 435 CONT MSC VOYAGER 36433 1980 468

Page 15: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

15

Other

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK PERLA ADIB 10890 1976 3500 310 TURKEY BULK POLYHRONIS 37648 1980 9784 UNDISCLOSED TANK OCEAN POWER 127800 1983 21415 470 BANGLADESH

Pakistan

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

TANK SEA PRINCE I 31000 1981 7760 470 TANK NIKI 39989 1988 8300 477 Asis Fujairah TANK SWAT 86593 1985 15463 468

RORO ASTRO VENUS 12464 1982 9508 455 Asis Aqaba. Incl 900tns ROB

BULK MAHA VIDYA 27451 1977 6542 455 TWEEN BOLAN 18145 1980 5635 448

Page 16: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

16

GBP CAD EUR JPY CHF USD

AUD

GBP 1 0.628 0.8376 0.007654 0.6394 0.6416 0.6172

CAD 1.593 1 1.3342 0.012191 1.0184 1.0218 0.983

EUR 1.1941 0.7498 1 0.009138 0.7634 0.766 0.7369

JPY 130.69 82.0676 109.459 1 83.558 83.8362 80.6515

CHF 1.5643 0.9823 1.3102 0.011972 1 1.0035 0.9654

USD 1.5589 0.9789 1.3057 0.01193 0.9967 1 0.962

AUD

1.6208 1.0177 1.3575 0.012403 1.0362 1.0397 1

* Values 02/12/2010

80

85

90

95

100

105

110

115

0,00

0,20

0,40

0,60

0,80

1,00

1,20

1,40

1,60

1,80

01/12/09 01/02/10 01/04/10 01/06/10 01/08/10 01/10/10 01/12/10

CurrenciesUSD-EURO

USD-YEN

0

20

40

60

80

100

01/12/09 01/02/10 01/04/10 01/06/10 01/08/10 01/10/10 01/12/10

$/B

arr

el

Brent Oil

Market Indicators

Page 17: 6000 8000 ATHENIAN SHIPBROKERS S.A.files.irwebpage.com/reports/shipping/0E74iKuYnc/... · 2016. 3. 16. · ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula ,

ATHENIAN SHIPBROKERS S.A.

17

Stock Watch

NAME TICKER THIS

MONTH* LAST

MONTH CHANGE % 52w HIGH 52w LOW

NewLead Holdings NEWL 2.58 3.96 -34.8 13.2 2.47

Capital Product Partners

CPLP 8.41 8.85 -5 10.06 5.31

Diana Shipping DSX 13.49 13.65 -1.2 16.62 10.75

Dryships DRYS 5.17 4.12 25.5 6.95 3.28

Eagle Bulk EGLE 5 5.13 -2.5 6.08 3.91

Euroseas ESEA 3.87 4.03 -4 4.66 3.02

Excel Martime EXM 5.55 5.77 -3.8 7.68 4.59

Freeseas FREE 3.93 4.7 -16.4 7.95 3.91

Genco Shipping&Trading

GNK 14.68 16.55 -11.3 26.49 14.2

General Maritime GMR 3.82 3.84 -0.5 8.82 3.58

Goldenport GPRT 120 123 -2.4 140 120

Navios NM 5.24 5.99 -12.5 7.55 4.38

Omega Navigation ONAV 1.28 1.21 5.8 3.63 1.14

Paragon PRGN 3.44 3.73 -7.8 5.22 3.4

Safe Bulkers SB 7.85 8.45 -7.1 9.25 6.5

Star Bulk SBLK 2.87 2.92 -1.7 3.23 2.21

Stealthgas GASS 5.08 4.79 6.1 6.6 3.93

TEN TNP 9.82 10.34 -5 18.34 8.96

TOP Ships TOPS 0.81 0.685 18.2 1.3 0.62

* 30/11/10 closing values

Disclaimer: Information and data that appear in this report have been obtained from various sources which are believed to be correct and reliable. However, Athenian Shipbrokers S.A. does not guarantee their accuracy or completeness and therefore cannot be held liable for any loss incurred as a result of reliance in any way whatsoever on the information contained herein.

Kind Regards,

Athenian Shipbrokers S.A.