WEEKLY SHIPPING MARKET REPORT WEEK 16

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1 WEEKLY SHIPPING MARKET REPORT WEEK 16 Orion have sold their two, Shinyo Challenger 185/2002 Mitsui, Japan with DD 10/2020 to Chinese buyers at levels USD 12 mill & Shinyo Endeavour 171/2002 Sasebo, Japan with DD 04/2020 to Clients of Seacon at levels USD 11 mill. Diana Shipping have committed their Panamax Erato 74/2004 Hudong Zhonghua, China with SS/DD 08/2019 to Chinese buyers for USD 7 mill. Please note that the two-years-younger Silver Dragon 75/2006 built in the same yard, was sold last week for a price of USD 8,3 mill to Greek buyers. Nisshin Shipping have committed their Ultramax Western Santos 64/2014 Jiangsu Hantong, China with DD 02/2022 (SS/DD recently passed), BWTS fitted with long delivery and cancelling date by the end of the year, to Clients of Thai Thoresen at a price of USD 18,8 mill. Nautical Bulk have sold their Nautical Amethyst 57/2011 Jiangsu Hantong, China with DD 03/2021 to Far Eastern buyers for USD 10,4 mill. Please note that the one-year-younger Naess Resolute 57/2012 Taizhou Sanfu, China was sold last week to Turkish buyers for USD 10,3 mill. Navios Maritime have committed their Navios Mercator 54/2002 Iwagi, Japan with DD 08/2020 to Chinese buyers at a price of USD 7 mill while Uglands Rederi committed their Fermita 52/2001 Tsuneishi Cebu, Philippines with DD 11/2019 at levels USD 6,6 mill Baltic Indices B.D.I B.C.I B.P.I. B.S.I. B.H.S.I. INDEX 18-Apr 12-Apr ± (%) BDI ,82% BCI ,22% BPI ,29% BSI ,95% BHSI ,23% Maran have sold their Suezmax Maran Capella 160/1998 Daewoo, Korea with DD 09/2019 to clients of Khor al Zubair for a price of USD 11,5 mill to be used as storage. Remind you that the two-year-younger built in the same yard Eurospirit 160/2000 was sold last month to Qatari buyers at levels USD 13,9 mill Target Marine have sold their Aframax Camelia 112/2004 Hyundai Samho, Korea with DD 03/2022 (SS/DD recently passed) to Indonesian buyers Soechi Lines for a price of USD 14,3 mill. Remind you that in March we saw the sale of Gardenia 112/2003 also built in Hyundai Samho, Korea to Indonesian buyers at a price of USD 13,2 mill. Sovcomflot have committed their MR Anichkov Bridge 48/2003 Hyundai Samho, Korea with SS/DD recently passed to Taiwanese buyers for USD 10,5-10,8 mill. Note that the one-year-younger sister vessel Okhta Bridge 48/2004 with SS/DD 06/2019 was sold to UAE based buyers at levels high USD 9 mill. BDTI BCTI INDEX 17-Apr 12-Apr ± (%) BDTI ,03% BCTI ,34% WEEKLY SHIPPING MARKET REPORT - pg. 1

2 $/day $/day $/day $/day DRY BULK COMMENTARY Iron ore rates on the West Australia / China route continued throughout Week 16 at the level of low usd 5,00 s fio. A number of round trips on the same route were reported around usd 6,000 pd levels. Usd 15,000 pd on for 9/12 months basis delivery in the Pacific. Kamsarmax / Panamax North Pacific rounds ranged at the usd 8,000 pd. A number of Indonesian trips into China reported around usd 7,000/8,000 pd levels. A number of Indonesian and Australian trips into India were reported fixed at the levels of usd 8,000/9,000 pd. South African trip into China at the level of usd 12,800 pd with chrome ore. Continental trip into Mediterranean via Murmansk was reported at the usd 7,500 pd. Transatlantic round voyage was reported at the usd 11,000 pd. South American trips into Continent with grains were reported at the levels of usd 15,000 pd and into China were reported at the levels of usd 14,000/15,000 pd plus ballast bonus at the usd 400K/550K. Usd 11,750 pd on a Kamsarmax for 6/8 months basis delivery in the Pacific Panamax Ultramax / Indonesian trips into China at the level of usd 9,000/10,000 pd without any ballast bonus. North Pacific trip into China was reported at the level of usd 8,000 pd with soya bean. South African trips into China at the level of usd 10,000/11,000 pd plus 100K/175K ballast bonus. Continental trip into Turkey with scrap was reported at the level of usd 11,500 pd. US Gulf Sulphur into Morocco was fixed at the usd 12,100 pd. South American trip into Mediterranean at the level of usd 12,750 pd and into China at the level of usd 13,600 pd plus 360K ballast bonus. No period activity to report here Handymax / Handysize A generally quiet week for this segment. Indonesian trip into India was reported at the level of usd 8,000 pd with alumina. A small was fixed at around usd 9,000 pd basis delivery Persian Gulf into West Coast India. Caribbean trip into West Africa with alumina was reported at the level of usd 6,500 pd. No period activity to report here Handysize WEEKLY SHIPPING MARKET REPORT - pg. 2

3 REPORTED SALES Bulk Carriers Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments Shinyo Challenger Shinyo Endeavour Panamax Erato Ultramax Western Santos Mitsui Chiba Ichihara, Japan 10/ $ 12m Chinese Sasebo, Japan 04/ $ 11m Ultramax Star Anna Moonray Nautical Amethyst Navios Mercator Fermita V Green Heron Hudong Zhonghua, China Jiangsu Hantong, China Jiangsu Hantong, China Jiangsu Hantong,China Jiangsu New Hantong, China 08/ / / / / Iwagi, Japan 07/2022 Tsuneishi Cebi, Philippines Clients of Seacon - $ 7m Chinese 4x30T $ 18,8m Clients of Thai Thoresen SS/DD passed, BWTS fitted, long delivery 4x30T $ 18,5m Norwegian On Subs 4x35T $ 9,2m Chinese Old Sale 4x30T $ 10,4m Far Eastern 4x30,5T $ 7m Chinese 12/2021 4x30T $ 6,6m Undisclosed Stx, Korea 01/2020 4x30T $ 6,2m Undisclosed Yunga Oshima, Japan 06/2020 Handysize New Glory Handymax Mare Forum Handysize Ratu Tembaga Shanhaiguan, China Kanasashi Toyohasi, Japan Imabari, Japan 11/2019 Handysize Dauntless Imabari, Japan 02/2022 4x30T Undisclosed Norwegian (R-Bulk) 4x30T $ 7,5m Undisclosed 07/2020 Mitsubishi 4x30T $ 6,25m Undisclosed 4x30,5T $ 5,4m Undisclosed 4x30,5T $ 5,3m Lebanese Internal deal WEEKLY SHIPPING MARKET REPORT - pg. 3 Type Name Dwt YoB Yard SS M/E Price Buyer Comments Suezmax Maran Capella Daewoo, Korea 12/2021 $ 11,5m Aframax Camelia MR Anichkov Bridge Hyundai Samho, Korea Hyundai Mipo, Korea 01/2024 $ 14,3m $ 10,5-10,8m UAE based (Khor al Zubair) Indonesian (Soechi Lines) Taiwanese For storage Ice Class 1A, CPP

4 DEMOLITION Indicative Demolition Prices Country Price India Bangladesh Pakistan China - India Bangladesh Pakistan India Bangladesh Pakistan Turkey 270 India 440 Bangladesh 455 Pakistan 430 China Turkey 280 China Turkey China Turkey WEEKLY SHIPPING MARKET REPORT - pg. 4 Demolition Sales Type Vessel Dwt YoB Ldt Price Country Comments Tanker Super Zearth India Container Oel Transworld India Container Orca Pakistan Container Spring Mas Bangladesh Ro-Ro/ Passenger Eden Undisclosed Reefer Baltic Prince India Container Selat Mas Bangladesh Passenger/GC Akbar India As Is Khor Fakkan, gas free for man entry, Green recycling Incl. 200T bunkers, 60T propeller, Green recycling Gas Barouda India As Is Algeria Reefer Green Music India Green recycling

5 NEWBUILDING Bulk Carriers Units Size Yard Delivery Price Owner Comments dwt Japan 2021 Undisclosed Japanese (Sanko Steamship) dwt COSCO Yangzhou, China 2020 $ 27m Chinese (ICBC FL) Tier III dwt Oshima, Japan 2021 Undisclosed dwt Fincantieri Bay, USA 2022 Undisclosed dwt Fujian Southeast, China 2020 Undisclosed Taiwanese (Taiwan Navigation) US based (Interlake Steamship) German (Baltrader Capital) Cement carrier, dual fuelled Units Size Yard Delivery Price Owner Comments cbm Hyundai Samho, Korea 2022 $ 179m Japanese (NYK) LNG, 20 years T/C to Edison SpA cbm Zvezda, Russia 2023 Undisclosed Russian (Sovcomflot) LNG dwt SWS, China 2021 $ 44m Greek (Pantheon ) cbm CIMC Sinopacific, China 2021 Undisclosed Norwegian (Avenir LNG) LNG, Ice class 1B, dual fuelled, for bunker sevice WEEKLY SHIPPING MARKET REPORT - pg. 5

6 Million US$ Million US$ INDICATIVE PRICES Size Age Week 16 Week 15 ± % Size Age Week 16 Week k Resale ,00% VLCC 310k Resale ,00% 180k 5 years ,00% VLCC 310k 5 years ,00% 180k 10 years 24,5 24,5 0,00% VLCC 300k 10 years ,00% 170k 15 years 14,5 14,5 0,00% VLCC 300k 15 years ,00% Kamsarmax 82k Resale 31,5 31,5 0,00% Suezmax 160k Resale ,54% Kamsarmax 82k 5 years 24,5 24,5 0,00% Suezmax 160k 5 years ,04% Panamax 76k 10 years ,00% Suezmax 150k 10 years ,06% Panamax 74k 15 years 9 9 0,00% Suezmax 150k 15 years 20,5 20,5 0,00% Ultramax 63k Resale ,00% Aframax 110k Resale ,00% Ultramax 61k 5 years 22,5 22,5 0,00% Aframax 110k 5 years ,00% 58k 5 years ,00% Aframax 105k 5 years ,00% 56k 10 years 13,5 13,5 0,00% Aframax 105k 15 years 12,5 12,5 0,00% 52k 15 years 8,5 8,5 0,00% MR 52k Resale 37,5 37,5 0,00% Handysize 38k Resale 24,5 24,5 0,00% MR 51k 5 years ,00% Handysize 37k 5 years ,00% MR 47k 10 years 17,5 17,5 0,00% Handysize 32k 10 years 11,5 11,5 0,00% MR 45k 15 years 9 9 0,00% Handysize 28k 15 years 7 7 0,00% ± % Kamsarmax , ,5 24,5 22,5 24, ,5 11,5 14,5 9 8,5 Prompt Resale 5 years 10 years 15 years 7 Panamax Ultramax Handysize , , ,5 12,5 9 VLCC Suezmax Aframax MR 0 Prompt Resale 5 years 10 years 15 years WEEKLY SHIPPING MARKET REPORT - pg. 6

7 $/bbl KEY INDICATORS Currencies Currency 18-Apr 11-Apr ± (%) EUR / USD 1,1230 1,1253-0,20% USD / JPY 111,97 111,66 0,28% USD / KRW 1.137, ,15-0,19% NOK / USD 0,1174 0,1172 0,17% 1,25 EUR / USD 1,20 1,15 1,10 Commodities Commodity 18-Apr 11-Apr ± (%) Brent Crude (BZ) 71,97 70,83 1,61% WTI Crude Oil (WTI) 64,00 63,58 0,66% Natural Gas (NG) 2,49 2,66-6,39% Gold (GC) 1.276, ,30-1,34% Copper 292,65 288,70 1,37% Wheat (w) 448,25 465,50-3,71% Oil Prices Brent Crude WTI Crude WEEKLY SHIPPING MARKET REPORT - pg. 7

8 SHIPPING INDICATIVE SHARE VALUE Stock Prices Shipping Companies Company Stock Exchange 18-Apr 11-Apr ± (%) Diana Shipping Ink (DSX) NYSE 3,14 3,11 0,96% Dry ships Ink (DRYS) NASDAQ 4,31 4,49-4,01% Euroseas Ltd (ESEA) NASDAQ 0,73 0,74-1,35% Eagle Bulk Shipping Inc (EGLE) NASDAQ 5,11 5,08 0,59% Navios Maritime (NM) NYSE 4,46 4,25 4,94% Navios Maritime PTN (NMM) NYSE 0,95 0,93 2,15% Star Bulk Carriers Corp (SBLK) NASDAQ 7,95 7,94 0,13% Seanergy Maritime Holdings Corp (SHIP) NASDAQ 4,07 4,21-3,33% Safe Inc (SB) NYSE 1,62 1,50 8,00% Golden Ocean (GOGL) NASDAQ 5,63 5,54 1,62% Stock Prices - Wet Company Stock Exchange 18-Apr 11-Apr ± (%) Capital Product Partners LP (CPLP) NASDAQ 11,12 11,26-1,24% TOP Ships Inc (TOPS) NASDAQ 0,71 0,78-8,97% Tsakos Energy Navigation (TNP) NYSE 3,38 3,43-1,46% Stock Prices - Other Company Stock Exchange 18-Apr 11-Apr ± (%) Danaos Corporation (DAC) NYSE 0,92 0,96-4,17% Stealth Gas Inc (GASS) NASDAQ 3,47 3,45 0,58% Rio Tinto (RIO) NYSE 60,77 62,06-2,08% Vale (VALE) NYSE 13,32 13,40-0,60% ADM Archer Daniels Midland (ADM) NYSE 42,76 43,29-1,22% BHP Billiton (BHP) NYSE 54,95 56,35-2,48% WEEKLY SHIPPING MARKET REPORT - pg. 8

9 CONTACT DETAILS ADVANCED SHIPPING & TRADING S.A. Vouliagmenis Avenue 168, 1 st Floor, Glyfada 16674, Greece Tel: Fax: Sale & Purchase Department: Capt. Fountoglou Michalis Mob: Thermos Stavros Mob: Harrington James Mob: Papoutsis George Mob: snp@advanced-ship.gr chartering@advanced-ship.gr finance@advanced-ship.gr research@advanced-ship.gr Dry Cargo Chartering Department: Bonatsos Mavra Mob: Benetos Kostas Mob: Pittas Iordanis Mob: Dienis Aggelos Mob: Balpakakis Manolis Mob: Chrousalas Thanasis Mob: Landrakis Stelios Mob: Bilias Tasos Mob: Kontaratos Alkis Mob: Markoutsa Kanella Mob: Research Department: Avdikos Alexandros Mob: Liadi Ioanna Mob: Liadi Artemis Mob: Roussos Pantelis Mob: Mylona Irini Mob: Operations Department: Katsouli Fotini Mob: Chief Executive Consultant: Capt. Galonis Dimitrios Mob: Accounting Department: Stergiou Kostas Mob: Administration Department: Chronopoulou Fenia Mob: WEEKLY SHIPPING MARKET REPORT - pg. 9 THINK BIG 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, Advanced Shipping & Trading 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: Advanced Shipping & Trading S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: research@advanced-ship.gr