WEEKLY SHIPPING MARKET REPORT

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1 WEEKLY SHIPPING MARKET REPORT WEEK 42 (10 rd October to 16 th October 2015) Legal Disclaimer 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. Research compiled by: Shiptrade Services S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: Shiptrade Services S.A. Tel st Floor, 110/112 Notara Street Fax Piraeus, Greece

2 Secondhand Sales Bulk Carriers Sale & Purchase Name Dwt YoB Yard SS Engine Gear Price (mill.) Buyer Katsara 207, Chiara 114, Moonlight 76, Brugge Max 73, Bonanza Kotobuki African Kookabura Universal, New Times, Jiangnan, Sumitomo, 09/2019 B&W - $ 60.0 With T/C Attached For 20 Yrs Undisclosed 03/2016 B&W - $ 13.1 Greek 06/2020 B&W - $ 13.0 Undisclosed 04/2018 Sulzer - $4.3 Chinese 75, Sasebo, 02/ B&W - $ 18.2 Greek 55, Zena A 42, Atlantic Burnet 32, Cs Sacha 28, Secondhand Sales - Tankers Mitsui Tamano, Hyundai, Hakodate, Imabari, 12/ B&W 4 x 30 T $ 12.0 Greek 09/2019 B&W 4 x 25 T $ 3.3 Turkish 11/2015 Mitsubishi 4 x 30 T $ 8.8 Undisclosed 01/2016 B&W 4 x 31 T $ 5.7 Undisclosed Name Dwt YoB Yard SS Engine Price (mill.) Buyer Blue Topaz 321, Blue Pearl 321, New Talent 297, Alan Veliki 166, Elia 115, Dl Sunflower 44, Lilac 5, Secondhand Sales Containers Daewoo, Daewoo, Shanghai, Brodosplit, Croatia Sanoyas, Onomichi, Torgem, Turkey 10/2015 B&W Undisclosed 07/2020 B&W Undisclosed US Based 05/2019 B&W Undisclosed Undisclosed 01/2016 B&W $ 36.0 Greek 08/2016 B&W $ 34.0 Greek 06/2018 B&W $ 9.0 Greek - Mak $ 4.7 Undisclosed Name Teu YoB Yard SS Engine Gear Price (mill.) Buyer Dimitris Y 5, Kvarner, Germany 05/2020 Sulzer $ 14.5 Greek

3 Indicative Values - Bulk Carriers Size Prompt Resale 5 years 10 years 15 years Capesize Panamax - Kamsarmax Supramax - Ultramax Handysize Indicative Values - Tankers Size Prompt Resale 5 years 10 years 15 years VLCC Suezmax Aframax Panamax MR

4 Newbuilding & Demolition Newbuilding Orders Tankers No Type Dwt Yard Delivery Owner Price (mill.) Comments 3 Suezmax 158,000 2 Mr 52,000 2 Mr 52,000 2 Mr 50,000 1 Mr 37,000 3 Suezmax 158,000 Newbuilding Orders - Containers Shanghai, Hyundai Mipo, Hyundai Mipo, Hyundai Vinashin, Vietnam Avic Weihai, Shanghai, Greek (Cardiff Marine) ese (Nyk) ese (Meiji Shipping) ese (Mitsui & Co) U.S.A Based (Sargeant Marine) Greek (Cardiff Marine) $ 63.0 $ 35.5 $ 35.5 Undisclosed Undisclosed $ 63.0 Asphalt Bitumen No Type Teu Yard Delivery Owner Price (mill.) Comments 8 Post Panamax 14,000 Hyundai, Demolition Sales Danish (AP Moller Maersk) $ Options Vessel Type Built Ldt Dwt Price ($) Country Comments Margot N BC , , Bangladesh Chittagong Pacific Navigator BC , , Singapore As Is Pacific Vitality BC , , Singapore As Is Zim Europa Container ,900 45, Bangladesh Chittagong Tiger Bridge Container ,520 31, Bangladesh AT 30 BC ,574 29, Pakistan Indicative Demolition Prices Country Tanker Prices Bulker Prices India Bangladesh Pakistan Turkey

5 Baltic Indices (Friday Closing Values) 1 year T/C rates ($/day) Dry Bulk Chartering Index Week 42 Week 41 Change (%) BDI ,80 BCI ,91 BPI ,12 BSI ,64 BHSI ,05 Type Size (k dwt) Week 42 Week 41 Change (%) Capesize ,85 Panamax ,13 Supramax ,62 Handysize ,05 Average spot rates ($/day) Type Size (k dwt) Route Week 42 Week 41 Change (%) Capesize Panamax Supramax Handysize F. East - ATL ,38 Cont/Med - F. East ,37 F. East RV ,81 TransAtlantic RV ,35 F. East - ATL ,72 ATL - F. East ,91 Pacific RV ,94 TransAtlantic RV ,59 F. East - ATL ,81 ATL - F. East ,89 Pacific RV ,89 TransAtlantic RV ,15 Far East - ATL ,12 ATL - F. East ,01 Pacific RV ,20 TransAtlantic RV ,17

6 Exchange Rates Key Indicators & Stock Markets Currency Week 42 Week 41 Change (%) EUR / USD 1,1356 1,1358 0,02 USD / JPY 118,98 120,26 1,06 USD / KRW 1,129 1,144 1,31 USD / NOK 8,090 8,063 0,33 Bunker Prices Port IFO 380 IFO 180 MGO Piraeus Fujairah Singapore Rotterdam Houston Commodities Commodity Week 42 Week 41 Change (%) Brent Crude (BZ) 50,16 53,66 6,52 Natural Gas (NG) 2,43 2,50 2,80 Gold (GC) 1,180 1,153 2,34 Copper 240,40 241,50 0,46 Wheat (W) 503,75 514,50 2,09

7 Shipping Stock Prices - Dry Bulk Key Indicators & Stock Markets Company Stock Exchange Week 42 Week 41 Change (%) Diana Shipping Inc (DSX) NASDAQ 7,13 7,02 1,57 Dryships Inc (DRYS) NASDAQ 0,207 0,200 3,50 Euroseas Ltd (ESEA) NASDAQ 4,74 4,70 0,85 Eagle Bulk Shipping Inc (EGLE) NASDAQ 6,09 6,00 1,50 Freeseas Inc (FREESE) NASDAQ 0,108 0,133 18,80 Navios Maritime (NM) NYSE 2,74 3,07 10,75 Navios Maritime PTN (NMM) NYSE 8,26 8,61 4,07 Paragon Shipping Inc (PRGN) NASDAQ 0,241 0,230 4,78 Star Bulk Carriers Corp (SBLK) NASDAQ 2,30 2,27 1,32 Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,670 0,700 4,29 Safe Bulkers Inc (SB) NYSE 3,28 3,67 10,63 Golden Ocean (GOGL) NASDAQ 2,70 2,82 4,26 Shipping Stock Prices - Wet Company Stock Exchange Week 42 Week 41 Change (%) Capital Product Partners LP (CPLP) NASDAQ 6,79 6,95 2,30 TOP Ships Inc (TOPS) NASDAQ 0,85 0,85 0,00 Tsakos Energy Navigation (TNP) NYSE 9,18 9,30 1,29 Shipping Stock Prices - Other Company Stock Exchange Week 42 Week 41 Change (%) Aegean Maritime Petrol (ANW) NYSE 7,89 8,13 2,95 Danaos Corporation (DAC) NYSE 6,54 6,44 1,55 StealthGas Inc (GASS) NASDAQ 4,59 4,82 4,77 Rio Tinto (RIO) NYSE 39,21 38,81 1,03 Vale (VALE) NYSE 5,00 5,27 5,12 ADM Archer Daniels Midland (ADM) NYSE 45,56 45,13 0,95 BHP Billiton (BHP) NYSE 36,65 37,32 1,80

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