ATHENIAN SHIPBROKERS S.A.drg.blob.core.windows.net/hellenicshippingnewsbody/pdf/...ATHENIAN...

16
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] www.atheniansa.gr September 2011 MONTHLY REPORT 0 2000 4000 6000 8000 10000 12000 Sep-01 Jan-02 May-02 Sep-02 Jan-03 May-03 Sep-03 Jan-04 May-04 Sep-04 Jan-05 May-05 Sep-05 Jan-06 May-06 Sep-06 Jan-07 May-07 Sep-07 Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Baltic Dry Index PRICES TANKERS ($ MIO) 2006 2007 2008 2009 2010 Sep-11 VLCC 5Y 117,2 136,0 155,8 78,0 87,8 72.5 VLCC 10Y 95,8 114,5 131,0 59,5 64,3 44.5 SUEZMAX 5Y 81,0 95,5 106,0 57,0 62,8 47.0 AFRAMAX 5Y 65,3 70,0 76,8 40,5 44,5 36.0 AFRAMAX10Y 51,8 60,0 64,7 23,5 30,7 21.2 PANAMAX5Y 55,5 60,4 61,0 35,5 39,0 32.0 45K 5Y D/H 47,3 53,0 52,7 23,5 27,3 28.5 45K 10Y D/H 38,9 44,7 43,2 16,0 19,7 18.0 45K 20Y 13,2 12,8 16,0 4,0 6,7 6.3 PRICES BULKERS ($ MIO) 2006 2007 2008 2009 2010 Sep-11 CAPESIZE 5Y 81,2 148,0 45,5 54,5 57,0 39.0 CAPESIZE 10Y 61,8 103,0 30,0 45,0 43,0 29.0 CAPESIZE 15Y 43,0 88,5 21,0 28,0 26,0 16.0 CAPESIZE 20Y 21,3 60,0 79,0 16,5 16,4 11.2 PANAMAX 5Y 45,4 89,0 25,5 35,0 38,5 26.7 PANAMAX 10Y 37,0 71,5 19,0 27,5 31,6 21.0 PANAMAX 15Y 27,7 61,0 12,5 22,0 23,1 15.0 PANAMAX 20Y 16,1 44,0 9,2 12,0 13,8 11.2 SUPRAMAX 5Y 40,0 74,5 24,0 27,5 31,9 25.0 HANDYMAX10Y 32,0 60,5 18,2 22,0 24,7 19.0 HANDYMAX15Y 22,1 46,0 13,0 17,5 20,0 14.2 HANDYMAX20Y 15,4 36,0 7,4 11,0 12,0 10.5

Transcript of ATHENIAN SHIPBROKERS S.A.drg.blob.core.windows.net/hellenicshippingnewsbody/pdf/...ATHENIAN...

Page 1: ATHENIAN SHIPBROKERS S.A.drg.blob.core.windows.net/hellenicshippingnewsbody/pdf/...ATHENIAN SHIPBROKERS S.A. 107-109, Vas. Pavlou Str., GR 166 73, Voula , Athens, Greece Tel: 210 9659700

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]

www.atheniansa.gr

September 2011

M O N T H L Y R E P O R T

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May

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Baltic Dry Index

PRICES TANKERS ($ MIO)

2006 2007 2008 2009 2010 Sep-11

VLCC 5Y 117,2 136,0 155,8 78,0 87,8 72.5

VLCC 10Y 95,8 114,5 131,0 59,5 64,3 44.5

SUEZMAX 5Y 81,0 95,5 106,0 57,0 62,8 47.0

AFRAMAX 5Y 65,3 70,0 76,8 40,5 44,5 36.0

AFRAMAX10Y 51,8 60,0 64,7 23,5 30,7 21.2

PANAMAX5Y 55,5 60,4 61,0 35,5 39,0 32.0

45K 5Y D/H 47,3 53,0 52,7 23,5 27,3 28.5

45K 10Y D/H 38,9 44,7 43,2 16,0 19,7 18.0

45K 20Y 13,2 12,8 16,0 4,0 6,7 6.3

PRICES BULKERS ($ MIO)

2006 2007 2008 2009 2010 Sep-11

CAPESIZE 5Y 81,2 148,0 45,5 54,5 57,0 39.0

CAPESIZE 10Y 61,8 103,0 30,0 45,0 43,0 29.0

CAPESIZE 15Y 43,0 88,5 21,0 28,0 26,0 16.0

CAPESIZE 20Y 21,3 60,0 79,0 16,5 16,4 11.2

PANAMAX 5Y 45,4 89,0 25,5 35,0 38,5 26.7

PANAMAX 10Y 37,0 71,5 19,0 27,5 31,6 21.0

PANAMAX 15Y 27,7 61,0 12,5 22,0 23,1 15.0

PANAMAX 20Y 16,1 44,0 9,2 12,0 13,8 11.2

SUPRAMAX 5Y 40,0 74,5 24,0 27,5 31,9 25.0

HANDYMAX10Y 32,0 60,5 18,2 22,0 24,7 19.0

HANDYMAX15Y 22,1 46,0 13,0 17,5 20,0 14.2

HANDYMAX20Y 15,4 36,0 7,4 11,0 12,0 10.5

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2

S E C O N D H A N D T O N N A G E M A R K E T

*Excluding demolition sales

Sale and Purchase Market - Second Hand units

Ship Type Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Total

BULK 35 52 32 42 40 32 233 TANK 24 37 20 37 18 23 159 GAS 3 14 2 14 8 2 43 CONT 4 8 5 9 7 14 47 TWEEN 3 6 3 6 1 0 19 REEF 1 0 0 0 0 1 2 RORO 5 2 3 2 0 1 13 FERRY 1 2 1 2 0 0 6 CRUISE 0 0 0 0 0 0 0

Total 76 121 66 112 74 73 522

558

32

420

41

0

200

400

600

THIS MONTH - PREVIOUS MONTH

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

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

165

23

143

18

0

50

100

150

200

THIS MONTH - PREVIOUS MONTH

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

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

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TANKER SALES

603

803

616

892

659 650

0

200

400

600

800

1000

39 42 45 48 51 3 6 9 12 15 18 21 24 27 30 33 36

WEEK NO

Baltic Clean Tanker - Yearly

2011 2010

1061

661

1047

737 674

0

200

400

600

800

1000

1200

39 42 45 48 51 3 6 9 12 15 18 21 24 27 30 33 36

WEEK NO

Baltic Dirty Tanker - Yearly

2011 2010

688

659

646

675

620

640

660

680

700

30/08/2011 06/09/2011 13/09/2011 20/09/2011

Baltic Clean Tanker - Monthly

677

672

681

683

700

650

660

670

680

690

700

710

30/08/2011 06/09/2011 13/09/2011 20/09/2011

Baltic Dirty Tanker - Monthly

NAME DWT BLT PRICE $ BUYER

BRIXHAM 5500 2009 CHINA DH * ENBLOC BSS▼

HARLINGTON 5500 2009 CHINA DH * ENBLOC BSS▼

MUMBAI 5500 2009 CHINA DH * ENBLOC BSS▼ KIEL 5500 2010 CHINA DH * ENBLOC BSS▼ RMEIL 6174 2010 CHINA DH 6 MIO UK BASED (Price Each)

QASEH 7000 2008 CHINA DH 4.5 MIO UNDISCLOSED HOWA 8298 2002 JAPAN DH 9.2 MIO SINGAPOREAN STOLT AYAME 9070 1991 JAPAN DH 3.5 MIO UNDISCLOSED SICHEM PADUA 9215 1993 S.KOREA DH 4 MIO GREEK SICHEM PANDORA 9215 1994 S.KOREA DH 4 MIO GREEK SAMHO CORDELIA 13153 2008 S.KOREA DH 13 MIO UNDISCLOSED CLIPPER CARIBE 14246 2005 JAPAN DH 15 MIO DE POLI TANKERS, ITALY ROYAL STELLA 19993 2009 S.KOREA DH 20 MIO GREEK (Via Auction in Singapore) ROYAL ORION 19997 2009 S.KOREA DH 20 MIO GREEK (Via Auction in Singapore)

MARIA KNUTSEN 22171 2001 SPAIN DH 45 MIO ENBLOC BSS▼ ISABEL KNUTSEN 22377 2000 SPAIN DH 45 MIO SINOCHEM , CHINA

HIGH CENTURY 48676 2006 JAPAN DH 27 MIO UNDISCLOSED HELLESPONT TRUST 147262 1999 S.KOREA DH 24.4 MIO GREEK

TICEN OCEAN 284497 1991 S.KOREA SH * ENBLOC BSS▼ TITAN ORION 284480 1992 S.KOREA SH * ENBLOC BSS▼ TITAN ARIES 302493 1993 S.KOREA DS 72.7 MIO PETROBRAS (Total Price)

SAGA CHELSEA 298432 1995 S.KOREA DH 25 MIO UK

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GAS SALES

6520

17000

7250 3500

13500235003350043500535006350073500

Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11

$/D

ay

Spot Market - Tankers VLCC

SUEZMAX

AFRAMAX

20525 18220

15100

05000

10000150002000025000300003500040000

Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11

$/D

ay

Period Market - Tankers 1 Year T/C

VLCC

SUEZMAX

AFRAMAX

NAME DWT BLT CBM PRICE $ BUYER

GAZ LIBERTY 7230 1982 UK 6617 2.5 MIO GREEK

TRANSGAS 67460 1977 FRANCE 129323 29 MIO FAR EASTERN

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BULKER SALES

NAME DWT BLT GEAR PRICE $ BUYER

BALSA 61 6830 1997 JAPAN CR 2X15 4 MIO CHINESE BALSA 62 6830 1997 JAPAN CR 2X15 4 MIO CHINESE WESTERHAVEN 8450 2000 CROATIA CR 2X40 11 MIO BRAZILIAN EASTSTAR 8865 1997 ROMANIA CR 2X40 3.6 MIO UNDISCLOSED

ATLANTICBORG 17356 2008 CHINA CR 3X60 * ENBLOC BSS▼ AVONBORG 17407 2009 CHINA CR 3X60 * ENBLOC BSS▼

ALASKABORG 17407 2009 CHINA CR 3X60 25 MIO CITGO PETROLEUM, USA (Price Each)

TONGFANG JIANGXIN JX625

19000 2011 CHINA CR 2X240 * ENBLOC BSS▼

TONGFANG JIANGXIN JX626

19000 2011 CHINA CR 2X240 27.8 MIO DANISH (Price Each)

LORD BYRON 25694 1985 JAPAN CR 3X25, DR

1X25 5.7 MIO RUSSIAN

ALADDIN RAINBOW 32260 1999 JAPAN CR 4X30 16 MIO GREEK TRITON 34000 2011 S.KOREA CR 4X30 26 MIO GREEK POSEIDON 34000 2011 S.KOREA CR 4X30 26 MIO GREEK SHANDONG HUAHAI P1001

36000 2011 CHINA GLESS 23.6 MIO OLDENDORFF, GERMANY

AFRICAN ALTAIR 37300 2011 CHINA CR 4X30 23.6 MIO EU BASED POSEIDON V 41373 1984 JAPAN CR 5X25 5.5 MIO CHINESE

SEA HOPE 48512 1998 JAPAN CR 4X25 16 MIO TIANJIN GUODIAN SHIPPING

YOUNG SPRING 53023 2002 JAPAN CR 4X30 22.5 MIO INDONESIAN PEARL VENUS 53679 1991 JAPAN CR 3X14.5 11 MIO UNDISCLOSED

672

670

683

690

677

687

660

665

670

675

680

685

690

695

30/08/2011 06/09/2011 13/09/2011 20/09/2011

Baltic Handysize

21379

1401

1446

1471

1320

1340

1360

1380

1400

1420

1440

1460

1480

1500

30/08/2011 06/09/2011 13/09/2011 20/09/2011

Baltic Supramax

2

1624 1634

1685

1748

1734

1642

1560

1580

1600

1620

1640

1660

1680

1700

1720

1740

1760

30/08/2011 06/09/2011 13/09/2011 20/09/2011

Baltic Panamax

4

2975 2938

3342

2847

3244

0

500

1000

1500

2000

2500

3000

3500

4000

30/08/2011 06/09/2011 13/09/2011 20/09/2011

Baltic Capesize

44 4438

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www.atheniansa.gr ATHENIAN SHIPBROKERS S.A.

6

FREEDOM LILY 56056 2005 JAPAN CR 4X30 25 MIO EUROPEAN

ARCTUROS 57000 2011 CHINA CR 4X36 * ENBLOC BSS▼ IDA SELMER 57000 2011 CHINA CR 4X30 * ENBLOC BSS▼

THOMAS SELMER 57000 2011 CHINA CR 4X30 26.5 MIO

THAI PRECIOUS SHIPPING, THAILAND (Price

Each)

WIKING 57000 2011 CHINA CR 4X30 27.5 MIO CHINESE (Dely

10/2011) MAGNETIC ISLE 68461 1996 JAPAN CR 4X30 15.4 MIO UNDISCLOSED PEQUOT 70165 1996 JAPAN GLESS 14.8 MIO FAR EASTERN TRITON OSPREY 81448 2007 JAPAN GLESS 28 MIO GREEK SUMA 149380 1994 CHINA GLESS 14 MIO CHINESE LOWLANDS PROSPERITY 169229 2001 S.KOREA GLESS 28.7 MIO UNDISCLOSED

HARMONIOUS 174234 2007 CHINA GLESS 38.8 MIO LAURITZEN BULKERS, DENMARK

IMABARI SAIJO 8109 180200 2011 JAPAN GLESS 48.5 MIO UNDISCLOSED BEGONIA 180265 2005 JAPAN GLESS 37.5 MIO UNDISCLOSED

26800

11995

9945

05000

1000015000200002500030000350004000045000

Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11

$/D

ay

Spot Market - Bulkers CAPESIZE

PANAMAX

HANDYMAX

19350

13298 12160

0

5000

10000

15000

20000

25000

30000

35000

Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11

$/D

ay

Period Market - Bulkers 1 Year T/C

CAPE

PMAX

HANDYMAX

44

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COMBO SALES

NAME DWT BLT GEAR PRICE $ BUYER

ALKMAN 66221 1985 JAPAN 8 MIO FUZHOU FENGDA SHIPPING, CHINA

CONTAINER SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

JOHN MITCHELL 5273 1997 GERMANY GLESS 523 2.6 MIO UNDISCLOSED LILLY MITCHELL 5401 1993 GERMANY GLESS 417 1.8 MIO UNDISCLOSED YI FA 6832 1994 S.KOREA GLESS 357 3.6 MIO CHINESE HAL ADMIRALTY 8160 1996 CHINA CR 2X40 660 7 MIO INDONESIAN TERRA BONA 22308 1993 JAPAN CR 3X40 1304 8.4 MIO TANTO, INDONESIA P+O NEDLLOYD COLERIDGE

22340 1994 GERMANY CR 3X40 1608 11 MIO BRAZILIAN

MARCALABRIA 23276 1993 GERMANY CR 3X40 1684 7.5 MIO GREEK TORGE S 33216 2003 JAPAN CR 3X40 2483 24 MIO GREEK (Bss SS/DD Passed) MSC ULSAN 52785 2002 S.KOREA GLESS 4132 30 MIO GREEK

OOCL SINGAPORE 67476 1997 JAPAN GLESS 5390 * ENBLOC BSS▼ OOCL NETHERLANDS

67473 1997 JAPAN GLESS 5390 * ENBLOC BSS▼

OOCL JAPAN 67752 1996 JAPAN GLESS 5344 * ENBLOC BSS▼ OOCL BRITAIN 67958 1996 JAPAN GLESS 5344 32 MIO GREEK (Incl 4 Yrs TCBack)

MSC VIVIANA 85824 2003 S.KOREA GLESS 6402 60 MIO GREEK (Incl 10 Yrs TCBack at

USD 29000 Pd)

REEFER SALES

NAME DWT BLT GEAR CBFT PRICE $ BUYER

MONTERREY 9952 1991 GERMANY DR 2X10, DR 7X5

470607 4.1 MIO CHINESE

REEFER SALES

NAME GT BLT TEU TRLRS PRICE $ BUYER

CLARA DEL MAR 11197 2007 CHINA 500 104 * SPANISH (Via Auction at

Eur 19 Mio)

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8

N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C T S

Dry Bulk Orderbook

Ship Type 2011 (deliv) 2011 2012 2013 2014 2015 2016+ Total

VLOC 15 18 44 17 9 1 0 89

Capesize 130 85 159 65 7 8 0 324

Small Cape 92 64 114 24 4 0 0 206

Panamax 130 130 417 150 39 0 0 736

Supramax 245 182 385 150 5 1 0 723

Handys 185 150 298 105 16 0 0 569

Total 797 629 1417 511 80 10 0 2647

Tanker Orderbook

Ship Type 2011 (deliv) 2011 2012 2013 2014 2015 2016+ Total

ULCC/VLCC 44 27 63 38 10 0 0 138

Suezmax 34 17 60 35 4 0 0 116

Aframax 37 25 53 22 3 0 0 103

Panamax 24 10 19 14 2 0 0 45

MR 60 21 87 33 0 0 0 141

Handy 16 12 9 3 0 0 0 24

Total 215 112 291 145 19 0 0 567

LPG Tank Orderbook

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

VLGC 1 2 4 9 0 0 15

LGC 0 0 0 0 0 0 0

MR 2 2 2 0 0 0 4

Handy 4 5 12 9 1 1 28

Small 23 29 23 6 3 3 64

Total 30 38 41 24 4 4 111

100.3

62.6 53.2

35.5

0

20

40

60

80

100

120

Aug-09 Dec-09 Apr-10 Aug-10 Dec-10 Apr-11 Aug-11

$m

Tanker Prices VLCC Suezmax

Aframax MR

1

5

3

51.2

30.1

28.4

23.9

0

10

20

30

40

50

60

70

Aug-09 Dec-09 Apr-10 Aug-10 Dec-10 Apr-11 Aug-11

$m

Bulker Prices Capesize Panamax

Handymax Handysize

5

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9

80

215

98

191

972

236

7

121 53

0

100

200

300

400

500

600

700

800

900

1000

2009 2010 Sep-11

No

. o

f V

es

se

ls

Newbuilding Sales Tankers >10,000 dwt

Bulkers >10,000 dwt

Containerships

72

109.2

54.2

24.2

43.3

30.6

0

20

40

60

80

100

120

Sep-11 2012 2013+

m. d

wt

Delivery Schedule Bulkers >10,000 dwt.

Tankers >10,000 dwt

46.5

19.4

11.7 5

14.8

0

5

10

15

20

25

30

35

40

45

50

September 2011

m.

dw

t

Tanker Newbuildings on Order VLCC Suezmax

Aframax Panamax

Products

103.2

69.5

41.6

22

0

20

40

60

80

100

120

September 2011

m. d

wt

Bulker Newbuildings on Order Capesize Panamax

Handymax Handysize

Newbuilding Historical Prices ($m)

Tankers Sep-11 2010 2009 2008 2007 2006 2005 2004 2003 2001 1995 1990 1985

310,000 DWT1 100.3 104.8 97.5 150 145 130 120 108 77.1 69.9 85.3 87.4 2 38.2

170,000 DWT1 62.6 66.3 61 90 90 80 71.5 71 51.4 46.3 54 66.1 2 28.2

110,000 DWT1 53.2 56 49.5 74 72 65.5 58 60 41.4 36.3 43.3 53.2 2 18.1

47,000 DWT1 35.5 36.1 35 46.5 52 47 43 39 31.4 26.2 33.2 3

32.1 3

13.3

Bulkers

180,000 DWT1 51.2 57.2 55.5 87 96 67 58.5 64.5 48.2 35.8 42.3 60.2 29.3

73,000 DWT1 30.1 34.3 34.5 45.5 54 39.5 36 37 27.1 20.3 27.9 30 13.4

45,000 DWT 28.4 31.1 29 41 47.5 37 31 30 24.1 18.4 24.1 25.3 12.4

29,000 DWT 23.9 26.3 24.5 31 34 27.5 25.5 24 18.1 14.2 19.2 21.3 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 / Won relation for the years mentioned)

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10

The Shipbuilding Market

TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES CONT 11850 Zhejiang Yangfan 2013 SITC

CONT 11850 Zhejiang Yangfan 2013 SITC

BULK 82000 Sungdong S.B. 2012 Nisshin Shpg. Co. Ltd.

BULK 82000 Sungdong S.B. 2012 Nisshin Shpg. Co. Ltd.

PASS 1200 Colombo Dockyd. 2013 Indian Government

PASS 1200 Colombo Dockyd. 2013 Indian Government

PSV 4000 Remontowa 2013 Gulf Offshore NS

PSV 4000 Remontowa 2013 Gulf Offshore NS

BULK 35000 Dae Sun S.B. 2013 Greek Interest

BULK 35000 Dae Sun S.B. 2013 Greek Interest Option

BULK 205000 Qingdao Yangfan 2013 Unknown

BULK 205000 Qingdao Yangfan 2013 Unknown

BULK 35000 Chengxi Shipyard 2013 CSL Group Inc

BULK 35000 Chengxi Shipyard 2013 CSL Group Inc

CONT 12000 Jiangsu New Yangzij. 2014 98 Mio Seaspan Corp.

CONT 12000 Jiangsu New Yangzij. 2014 98 Mio Seaspan Corp.

CONT 11850 Zhejiang Yangfan 2013 SITC

CONT 11850 Zhejiang Yangfan 2013 SITC

BARGE MP Shipyard 2012 Pelayaran Nasional

BARGE MP Shipyard 2012 Pelayaran Nasional

BULK 82000 Sungdong S.B. 2012 Nisshin Shpg. Co. Ltd.

BULK 82000 Sungdong S.B. 2012 Nisshin Shpg. Co. Ltd.

TANKER 19800 Kitanihon Zosen 2013 Zodiac Maritime Agy.

TANKER 19800 Kitanihon Zosen 2013 Zodiac Maritime Agy.

TANKER 19800 Kitanihon Zosen 2013 Zodiac Maritime Agy.

TANKER 19800 Kitanihon Zosen 2013 Zodiac Maritime Agy.

TANKER 19800 Kitanihon Zosen 2013 Zodiac Maritime Agy.

TANKER 19800 Kitanihon Zosen 2013 Zodiac Maritime Agy.

GEN.CARGO 13000 Shandong Huanghai 2013 13.5 Mio NS United K.K

GEN.CARGO 13000 Shandong Huanghai 2013 13.5 Mio NS United K.K

GEN.CARGO 13000 Shandong Huanghai 2013 13.5 Mio NS United K.K Option

GEN.CARGO 13000 Shandong Huanghai 2013 13.5 Mio NS United K.K Option

TANKER 4800 Linhai Chengzhou 2012 Panoil Tankers

TANKER 4800 Linhai Chengzhou 2012 Panoil Tankers

RORO/CONT 26000 Hyundai Mipo 2013 68.57 Mio Nat.Shpg.of South Arabia

RORO/CONT 26000 Hyundai Mipo 2013 68.57 Mio Nat.Shpg.of South Arabia

TANKER 52000 Hyundai Mipo 2012 Consolitated Marine

TANKER 52000 Hyundai Mipo 2013 Consolitated Marine

CRUISE 1400 Fincantieri 2013 Iles du Ponant

BULK 97000 I.H.I. 2013 Daiichi Chuo

BULK 97000 I.H.I. 2013 Daiichi Chuo

BULK 97000 I.H.I. 2013 Daiichi Chuo

CONT 30000 STX Dalian 2013 Sea Consortium

CONT 30000 STX Dalian 2013 Sea Consortium

CONT 30000 STX Dalian 2013 Sea Consortium Option

CONT 30000 STX Dalian 2013 Sea Consortium Option

CONT 30000 STX Dalian 2013 Sea Consortium Option

CONT 30000 STX Dalian 2014 Sea Consortium Option

CONT 30000 STX Dalian 2014 Sea Consortium Option

CONT 30000 STX Dalian 2014 Sea Consortium Option

LNG 85000 Hyundai H.I. 2014 BW Gas

LNG 85000 Hyundai H.I. 2014 BW Gas

LNG 85000 Hyundai H.I. 2015 BW Gas Option

LNG 85000 Hyundai H.I. 2015 BW Gas Option

LIVESTOCK 15000 COSCO Guangdong 2014 28.25 Mio Vroon B.V.

CONT 14000 Dae Sun S.B. 2013 19.80 Mio Korea Ship Finance

CONT 14000 Dae Sun S.B. 2013 19.80 Mio Korea Ship Finance

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11

D E M O L I T I O N M A R K E T

Demolition Historical Average Prices

485 485 486 506 507 498 497 498 505

180230280330380430480530580630680730780

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

$

Tankers 2008 2009

2010 2011

455 447 465 479 484 473 472 473 484

180230280330380430480530580630680730

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

$

Bulkers 2008 2009

2010 2011

Demolition Prices

Gen Cargo Tanker India USD 505 /lt Ldt USD 525 /lt Ldt

Pakistan USD 500 /lt Ldt USD 520 /lt Ldt

Bangladesh USD 490 /lt Ldt USD 515 /lt Ldt

China USD 440 /lt Ldt USD 460 /lt Ldt

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12

India

13.4 27

28.65 26.9

38 25.6

14.5 4.9

2.35 4.6

3.8 15.9

16.7 18.9

15.5 18

15.6 25

30.5 22.4

28.4 28.5

27 10

5.5 6.5

5 12

28.9 25.7

26.5

0 5 10 15 20 25 30 35 40

1981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011

Million dwt

Year

Total Demolition

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK ATRAI 1202 1969 3300 526

BULK ATRA 1 8730 1987 3428 510

BULK RIGA SAILOR 14204 1975 5526 505

BULK DEYCAN 15202 1977 4714 510

BULK KYBELE 16114 1976 4660 520

BULK NOBLESSE 20692 1979 5185 512

BULK HENG SHUN MEN 25075 1981 5747 517

BULK SALEMA S 25826 1981 7697 529

BULK DON LEANDRO 26933 1975 6559 352 Asis Chile

BULK POWSTANIEC STYCZNIOWY

33780 1986 8410 520

BULK MENTOR 34947 1983 7750 522

BULK JI QING MEN 37635 1984 10300 514

BULK ST ANNA 52670 1986 13330 548

BULK ALBA 64711 1983 11234 529

BULK HUA JIN YUAN 72539 1976 11934 524

BULK HISTRIA DIAMOND 84914 1989 21103 530

BULK DIAS 134964 1988 20928 530

BULK EVER BRIGHT 148982 1987 24515 535

BULK V AUSTRALIA 166058 1984 27851 515 Asis Spore

COMBO KINGSWAY 76324 1985 17458 510

REEF LAURA 9464 1983 6201 510

REEF AUCKLAND STAR 11434 1985 6020 * Enbloc Bss▼

REEF ENGLISH STAR 11434 1986 6100 510 Asis Fujairah. Price Each

RORO ATLANTIC LEADER 19036 1985 8920 547

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Bangladesh

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK BANGMUNNAK 7140 1975 2216 505

BULK MARGARITA M 27307 1977 6500 524

BULK GLORY I 30910 1981 6800 505 Under Tow

BULK RIVA 132016 1981 17661 520

BULK V EUROPE 139496 1982 19204 525

BULK GOLDEN HUAXI 145905 1985 20124 520

COMBO HEBEI RAINBOW 82513 1983 14950 540

COMBO RUHR N 305836 1987 42687 525

TANK COASTAL VENUS 95844 1991 14536 525 Asis Spore Incl 300 T IFO

TANK MAYON SPIRIT 98507 1992 16956 515 Asis Spore

TANK TINOS 260039 1988 33629 540

China

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK FU JIN 11998 1974 6750 460

BULK WIN EXPRESS 27606 1977 6145 445

BULK KADMOS 38913 1983 10456 498 Asis Lianyungang Incl 500 T IFO RoB

BULK IBAD 41513 1982 8276 458

BULK HEROIC 41538 1982 8792 460

BULK XIN YU 63987 1977 12131 456

BULK LONG SON 63990 1981 12259 462

BULK XIN FENG 65785 1981 11396 458

BULK EAST SUNRISE 8 69737 1981 12434 455

GAS BEKULAN 51579 1973 20000 450

TANK KOREA SUNNYHILL 30264 1976 7861 472

TANK SUNHILL 38653 1986 10172 465

TANK SHEN NON II 152856 1991 25545 480

TANK CARIBIC 17079 1988 6201 590

TANK ARTEMIS 28750 1984 9634 535

TANK ESTRECHO DE MAGALLANES

68000 1991 15991 445 Asis Quitero, Chile

TWEEN BIPASHA 15037 1971 3811 547

TWEEN UNION CARRIE 16251 1978 5185 530

TWEEN CHANG LE MEN 17240 1982 5100 514

TWEEN RICKMERS DOHA 23220 1979 8139 540

TWEEN ZHONG YANG MEN 24815 1977 7812 514

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14

Pakistan

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK RANA 24715 1979 5436 510

BULK PAGANE 54158 1982 14620 505

BULK JEWEL I 65403 1983 11298 515

RORO ANFAL 4580 1975 3030 480

TANK OURANOS 67980 1983 16500 520

TANK SKIPJACK 83962 1988 14898 542 Asis Fujairah With 400 T RoB

TANK IRON MONGER 3 98624 1990 16483 546

TANK TITAN CHIOS 239783 1986 30637 520

Turkey

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK VASSILIKI 4415 1979 1704 320

Other

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK ALAKNANDA 47221 1986 10173 470 Asis Kakinada

TANK S/R WILMINGTON 48846 1984 14537 378 Asis Texas

TANK 18 DE MARZO 56746 1977 185 Asis Vera Cruz, Mexico

TANK TAKAMA 266286 1987 32309 520 Enbloc Bss▼

TANK BW ARA 290085 1982 40900 520 Asis Malaysia. Price Each

TWEEN NORD GAIN 12720 1982 6050 477 Asis Haldia Region

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15

M A R K E T I N D I C A T O R S

GBP CAD EUR JPY CHF USD

AUD

GBP 1 0.6269 0.8692 0.008383 0.7124 0.6411 0.6341

CAD 1.5957 1 1.3868 0.013375 1.1366 1.0228 1.0117

EUR 1.1507 0.7213 1 0.009645 0.8197 0.7376 0.7295

JPY 119.32 74.7944 103.699 1 84.9934 76.4818 75.6462

CHF 1.4042 0.8803 1.2204 0.011771 1 0.9001 0.8903

USD 1.5601 0.9779 1.3559 0.013077 1.1113 1 0.9891

AUD 1.5776 0.9889 1.3711 0.013223 1.1238 1.0112 1 * 28/09/11 values

70

75

80

85

90

95

100

105

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

01/09/10 01/11/10 01/01/11 01/03/11 01/05/11 01/07/11 01/09/11

USD

-JP

Y

USD

-EU

R

Currencies USD-EURO

USD-JPY

0

20

40

60

80

100

120

140

01/09/10 01/11/10 01/01/11 01/03/11 01/05/11 01/07/11 01/09/11

$/B

arre

l

Brent Oil

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16

S T O C K W A T C H

NAME TICKER THIS

MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW

NewLead Holdings NEWL 0.80 0.82 -2.4 4.99 0.53

Capital Product Partners

CPLP 6.32 6.80 -7.1 11.39 4.85

Diana Shipping DSX 8.11 8.76 -7.4 14.23 7.42

Dryships DRYS 2.64 3.09 -14.6 6.44 2.19

Eagle Bulk EGLE 1.83 1.97 -7.1 5.75 1.62

Euroseas ESEA 3.02 3.74 -19.3 5.28 2.85

Excel Martime EXM 2.32 1.82 27.5 6.63 1.63

Freeseas FREE 0.90 1.18 -24 5.35 0.82

Genco Shipping &Trading

GNK 7.96 6.21 28.2 18.08 4.15

General Maritime GMR 0.33 0.40 -17.5 4.98 0.23

Goldenport GPRT 72.00 74.40 -3.2 132.00 69.00

Navios NM 3.51 3.70 -5.1 6.29 2.88

Omega Navigation ONAV

Paragon PRGN 0.91 1.26 -27.8 4.04 0.87

Safe Bulkers SB 6.58 7.18 -8.4 9.78 6.10

Star Bulk SBLK 1.33 1.41 -5.7 3.23 1.00

Stealthgas GASS 4.05 4.19 -3.3 8.80 3.40

TEN TNP 5.89 6.32 -6.8 13.87 5.50

TOP Ships TOPSD 1.32 2.17 -39.2 11.60 1.30

* 28/09/11 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.