WEEKLY SHIPPING MARKET REPORT

Transcription

1 WEEKLY SHIPPING MARKET REPORT WEEK rd to 27 th April 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 snp@shiptrade.gr 1st Floor, 110/112 Notara Street Fax chartering@shiptrade.gr Piraeus, Greece tankerchartering@shiptrade.gr

2 Shipping, Commodities & Financial News Russian grain ban lifted Russia, the world s second largest wheat exporter, is set to lift its ban on exporting grains effective 1 July However, it warned that fresh export restrictions might be necessary later this year to curb food inflation. From July first this year we will lift the ban on grain exports, Vladimir Putin, the Russian prime minister said on Saturday. Last year Russia introduced a ban on overseas sales of cereals such as wheat, barley and corn after a drought devastated its crop. Earlier this month the US Department of Agriculture (USDA) predicted that Russian exports would return to global markets. The USDA estimated that wheat exports from Russia, Kazakhstan and Ukraine in 2011 would more than double to 26t. Russian wheat exports are expected to rise from 4mt to 10mt, the USDA said. Ukraine s would increase from 3.5mt to 8.5mt. Earlier this year there were fears that the Russian ban could be extended until October and possibly even into The ban pushed up wheat prices and forced importers in the Middle East and North Africa to seek emergency supplies in Europe and the US. (Tradewinds) Guangzhou JFE Steel starts operating new cold rolling mill Guangzhou JFE Steel Sheet Co Ltd, a JV between JFE Steel Corporation and Guangzhou Iron and Steel Enterprises Holdings Ltd, has begun operating a new cold rolling mill as part of an integrated production system encompassing cold rolling to hot dip galvanizing, which the company is constructing to meet the increasing demand for high end steel in China. The completion of the cold rolling mill was celebrated with a ceremony in Guangzhou, joined by Mr Eiji Hayashida president of JFE Steel and Mr Zhang Ruosheng chairman of Guangzhou Iron and Steel. The cold rolling mill will enter commercial production in July after test operation. The continuous annealing line is slated to start operating in June and commercial production will begin in August, after which shipments of cold rolled steel sheet mainly for automobiles and electrical appliances will move into full gear. In addition to the cold rolling mill of 1.8 million tonnes per year, GJSS will add a continuous annealing line of 1 million tonnes per year and a second continuous galvanizing line CGL of 400,000 tonnes per year under a major expansion. When the No. 2 CGL is completed by around the end of the year, GJSS s two CGLs will have a combined annual processing capacity of 800,000 tonnes. Going forward, GJSS, JFE Steel and Guangzhou Iron and Steel will cooperate in providing stable supplies of cold rolled steel sheet and hot-dip galvanized steel sheet to customers in China, particularly firms in the fast-growing automobile and electrical appliance industries. (Steelguru) Chinese export levels remain quiet as demand slumps With demand slumping in South East Asia buyers from Japan and Korea are showing reluctance to book even cheap Chinese material as stocks are already running high. Indian importers got offers from Chinese mills at USD 730 per tonne to USD 740 per tonne CFR for 3mm and above boron added SS400 commercial grade HRC which remained unchanged from previous week but so did the buyers interest. There was utter lack of interest in Chinese and Black Sea offers in India as the previously imported material to the tune of above 100,000 tonnes remains un liquidated. At the same time slump in auto industry in SE Asia after the Japanese Tsunami has led to reduced demand for CRC as well. With European and Middle Eastern bedraggled for long and struggling to come to terms with the changed scenario coated products prices declined. Today s challenging markets are not all bad news for Norwegian shipping companies, Sturla Henriksen says. Henriksen, director general of the Norwegian Shipowners Association (NSA), believes strong companies that ride out the crisis will come out the other end in a better position. These are difficult times for everybody, but this is also a time for opportunities, he told TradeWinds WebTV. Henriksen was speaking at the opening of the Nor Shipping exhibition in Oslo, where youth will take centre stage this week. He says the emerging generation s ability to cope with the great challenges of our time, including climate change, will determine their legacy. (steelprices-china) Alwaleed Says Saudi Arabia Seeks $70 to $80 Oil to Preserve Sales to West Prince Alwaleed bin Talal said an oil price of $70 to $80 a barrel is in the best interests of Saudi Arabia because it diminishes the urgency in the U.S. and Europe to develop alternative energy sources. We don t want the West to go and find alternatives, Alwaleed, a nephew of Saudi King Abdullah, said in an interview on CNN s Fareed Zakaria GPS, scheduled for broadcast today. The higher the price of oil goes, the more they have incentives to go and find alternatives. The rebellion in Libya, political turmoil in Bahrain and speculative buying are responsible for driving oil prices to more than $100 a barrel, Alwaleed said. Crude for July delivery rose 36 cents to settle at $ a barrel on the New York Mercantile Exchange May 27. Prices have increased 35 percent in the past year. Alwaleed, who owns Citigroup Inc. (C) shares and ranks 26th on Forbes magazine s list of the world s richest billionaires with a net worth of $19.6 billion, said he continues to invest in the U.S. and that the nation is down, for sure, but it is not out. Standard & Poor s lowered its U.S. credit-rating outlook on April 18 to negative, citing the widening budget deficit. Saudi Arabia needs to enact laws that allow for greater public participation in government, Alwaleed said. U.S. President Barack Obama s administration is seeking to encourage pro-democracy movements inspired by those that ousted longtime leaders in Tunisia and Egypt as part of the so-called Arab Spring to create broader, regional changes. (Bloomberg) 1

3 Dry Bulk - Chartering In Brief: Market continued its upward trend, with Capes and Panamaxes leading the way. Since the beginning of the week the BDI gained 105 points, BCI gained 170 points, BPI gained 154 points, BSI gained 35 points, while BHSI lost just 7 points. Capesize: Rates continued their improving trend, especially in the Atlantic region. Activity increased and fixtures concluded at USD per day for transatlantic rounds, while just 1 week ago the same route was paying USD per day. Brazil China trade followed the trend, with vessels fixed at USD pmt in the beginning of the week, while at the end, levels climbed higher at USD pmt. We also saw the activity increasing in the pacific, with 15 vessels reported fixed for the Australia China trade. Rates reached the lowest at USD 7.25 pmt during mid-week, and eventually increased at USD 7.60pmt at weeks closing. Panamax: Rates remained on positive on both basins. Charterers seemed reluctant to move in the beginning of the week, but soon became more confident. In the Atlantic, lack of tonnage availability pushed rates a bit higher, as USG cargoes were eager for tonnage. Owners could achieve rates around USD per day for transatlantic rounds, while for trips to Far East Owners could get around USD per day. Rates ex ECSA softened just a bit from the previously reported USD per day + USD Ballast Bonus to USD per day + USD Ballast Bonus for trip towards East last week. Activity in the Pacific remained in good levels as well. Many vessels were fixed for coal ex Indonesia/Australia or C.I.S, back to Japan/China and India. Taking into consideration the monsoon season, Owners who sailed for direction India got premium rates, around USD per day. Rates for trip ex NOPAC increased a bit further, and Owners could see around USD per day for positions in N. China/ Japan. Supramax: No significant changes occurred in the Atlantic. Cargoes ex USG to Continent/Mediterranean keep on paying good premiums, and volume of grains/sugar parcels ex ECSA remained stable. Positions in Continent/ Mediterranean could get low USD 20 s ex Continent/Mediterranean for a trip to the East. On the ECSA/Far East trade, vessels opening in West Africa could get low USD 20 s, while vessels in ECSA were about USD per day + USD Ballast Bonus. The Pacific market softened a little bit. Owners were talking USD per day for trips, but at the end, fixtures were concluded around USD per day. Coal and nickel ore ex S.E. Asia remain a usual trade for the area. Handysize: Even though indices may have dropped a bit, the physical market did not see any significant changes. In the Atlantic, we had a steady flow of grains ex Continent to med, and also parcels grains/sugar ex ECSA got into the market again. Owners tried to get as more as possible, but Charterers were not willing to move any higher, so rates remained in the same levels. In some rare cases, some Owners achieved to get 1-2 dollars above the market levels for sugar ex ECSA to Mediterranean. In the Pacific, we did not see so many steel parcels compared to last week, but there were cargoes available with clinker and coal being the most usual, loading from Indonesia/Philippines or alternatively from C.I.S. 2

4 Dry Bulk - Chartering Baltic Indices Dry Market (*Friday s closing values) Index Week 21 Week 20 Change (%) BDI ,30 BCI ,51 BPI ,94 BSI ,69 BHSI ,02 T/C Rates (1 yr - $/day) Type Size Week 21 Week 20 Change (%) Capesize 160 / 175, ,35 Panamax 72 / 76, ,70 Supramax 52 / 57, Handysize 30 / 35, ,88 Average Spot Rates Type Size Route Week 21 Week 20 Change % Capesize 160 / 175,000 Panamax 72 / 76,000 Supramax 52 / 57,000 Handysize 30 / 35,000 Far East ATL ,08 Cont/Med Far East ,67 Pacific RV ,69 TransAtlantic RV ,18 Far East ATL ,29 ATL / Far East ,61 Pacific RV ,67 TransAtlantic RV ,79 Far East ATL ,44 ATL / Far East ,55 Pacific RV ,56 TransAtlantic RV ,58 Far East ATL ,10 ATL / Far East ,76 Pacific RV ,90 TransAtlantic RV ,44 3

5 Dry Bulk - Chartering ANNUAL MARCH 2011 MAY

6 Dry Bulk - Chartering Capesize Routes Atlantic 2010 / 11 $80.000,00 $70.000,00 $60.000,00 $50.000,00 $40.000,00 $30.000,00 $20.000,00 $10.000,00 $0, C2 TUB / ROT C4 RBAY / ROT C7 BOL / ROT C8 T/A RV AVG ALL TC Capesize Routes Pacific 2010 / 11 $90.000,00 $80.000,00 $70.000,00 $60.000,00 $50.000,00 $40.000,00 $30.000,00 $20.000,00 $10.000,00 C3 TUB / PRC C5 W AUST / PRC C9 CONT / FE C10 FE R/V $0, Panamax Routes Atlantic 2010 / 11 $60.000,00 $50.000,00 $40.000,00 $30.000,00 P1A T/A RV $20.000,00 $10.000,00 P2A CONT/FE $0,

7 Dry Bulk - Chartering Panamax Routes Pacific 2010 /11 $40.000,00 $35.000,00 $30.000,00 $25.000,00 $20.000,00 P3A FE R/V P4 FE/CON AVG ALL TC $15.000,00 $10.000,00 $5.000,00 $0, Supramax Routes Atlantic 2010 /11 $70.000,00 $60.000,00 $50.000,00 $40.000,00 $30.000,00 $20.000,00 $10.000,00 $0,00 Supramax Routes Pacific 2010 / S1A CON / FE S1B BSEA / FE S4A USG / CONT S4B CONT / USG S5 WAFR / FE $35.000,00 $30.000,00 $25.000,00 $20.000,00 $15.000,00 $10.000,00 S2 FE R/V S3 FE / CON S6 FE / INDI S7 ECI / CHI AVG ALL TC $5.000,00 $0,

8 Tanker - Chartering In Brief: Statements from the leaders of G-8 from Deauville about the recovery of the global economy led oil prices to rise. However, that was not the only reason. The dollar dropped against the euro to lowest level in one week causing investors to turn to commodities for shelter while power shortages at Texas led gasoline prices in US to climb just as the driving season begins. Furthermore, turmoil in Middle East shows no signs of abating as new clashes took place in Yemen and Syria during last week whereas the IEA advised that it may tap supplies due to Libya unrest. Now, everyone s attention is on the coming OPEC meeting on the 8th of June where production quotas are expected to increase, according to JPMorgan, over rising concern. VLCC: Things seem better now in the Middle East Gulf as demand picked up and the ratio of cargoes/units improved. Though not impressively, fixtures reported over the last month are quite more than previously while vessels available for the coming week are as not as many as the previous one. However, rates didn t reflect that since apart from some gains for Eastbound trades, market remained at last week s levels, particularly in the Atlantic where the differential narrowed due to a weakening Suezmax market Suezmax: In West Africa the excess tonnage allowed charterers to take advantage of their favorable position and push rates considerably down, reaching even as low as WS 70 s. Things are not better in the Black Sea where owners are still waiting for demand to improve. As a result, rates slipped even further to levels below WS 80 s. Aframax: Although fresh enquiries appeared for Mediterranean Aframaxes, tonnage is still building up, keeping rates at low to mid WS 100 s levels. In the North Sea momentum was lost while on the contrary rates held their ground in the Middle East Gulf for Eastern destinations. The Caribbean market started strongly but efforts from owners were undermined by the oversupply of units and rates gradually fell back to mid WS 100 s. Products: Still no sign of improvement in the Middle East for Japan runs where rates kept last week s levels at best and with an oversupply of tonnage in the area for the week to come things don t seem to get better any time soon. Clean runs USAC that had witnessed a rather impressive drop over the previous week, haven t yet recovered. TC2 managed to bounce back at WS just before the week had ended while activity in TC3 is still slow. However, the beginning of the driving season leaves some room for optimism. As far as Panamaxes are concerned, didn t have much to show this week and rates remained at previous levels. Baltic Indices Wet Market (*Thursday s closing values) Index Week 21 Week 20 Change (%) BCTI ,30 BDTI ,40 T/C Rates (1 yr - $/day) Type Size Week 21 Week 20 Change (%) VLCC Suezmax Aframax Panamax MR

9 Tanker - Chartering Crude Tanker Average Spot Rates Type Size (Dwt) Route Week 21 WS Week 20 WS Change % 280,000 AG USG VLCC 260,000 W.AFR USG ,000 AG East / Japan Suezmax 135,000 B.Sea Med ,000 WAF USAC ,000 Med Med Aframax 80,000 N. Sea UKC ,000 AG East ,000 Caribs USG Product Tanker Average Spot Rates Type Size (Dwt) Route Week 21 WS Week 20 WS Change % 75,000 AG Japan Clean 55,000 AG Japan ,000 Caribs USAC ,000 Cont TA Dirty 50,000 Cont TA , ,000 Caribs USAC

10 Tanker - Chartering VLCC Trading Routes 2010 / AG - USG WAFR - USG AG EAST JAPAN Suezmax Trading Routes 2010 / B. SEA - MED WAF - USAC Aframax Trading Routes 2010 / MED - MED N.SEA - UKC AG - EAST CARIBS USG

11 Tanker - Chartering Clean Trading Routes 2010 / AG - JAPAN (75,000) AG - JAPAN (55,000) CARIBS - USAC (38,000) 50 CONT - TA (37,000) Dirty Trading Routes 2010 / CONT - TA (55,000) 100 CARIBS - USAC (50,000)

12 Sale & Purchase OPPORTUNITIES FOR THE KEEN BUYERS Highlights of the week are the sale of 2 X Supramax Resales Hyundai Mipo 6099 and Hyundai Mipo 6100 (abt dwt Built 2011) sold for USD 33 mill each enbloc to Greek Buyers and the Capesize Poinsetia (abt dwt Built Namura JPN 2010) at USD mill to Greek buyers. Lately we have seen that there is a very strong interest for 90 s built as well as modern Container vessels. A large number of such vessels is being contracted every week and a fair share is being reported sold in the secondhand market with many Listed companies currently investing in this type. Korea Lines Capesize Poinsetia blt 2010 Namura JPN, which was circulated as a sales candidate via auction, has been reported sold to Greek Buyers for USD mill. Compared with a prompt resale, which is evaluated to cost around USD mid 50 s, this one was sold at a good price. Following the Sale of their 2001 Japanese built Supramax Heron, Eagle Bulk is now inviting interested parties for their smaller Supramax Merlin Blt JPN 2001 to inspect her upon discharging Nantong at 6 th June. We understand that Sellers are inviting offers at USD low - mid 22 mill levels. Japanese owners World Marine Co. are inviting buyers offers for their Chiloe (46k Dwt Blt 01 JPN) at June 1 st at levels similar to her sister Paradise Island which was sold for USD 21.6 mill. Both Greek and Chinese buyers still have Interest for Handy Handymax Bulkers built in the region of 85. Nothing has changed regarding purchase interest with purchase enquiries remaining at the same levels with buyers still looking for all types, sizes and ages in the dry sector as well as in the wet. Lately we have seen inquiries from buyers investors who are searching in the market for Vessels with TC attached. NEWBUILDNGS In the newbuldings market, we have seen 58 vessels reported to have been contracted. 25 Bulk carriers (Handymaxes upto Capes). 33 Containers (4.700 upto TEU s) DEMOLITION The demo sales have slowed down this week with cash buyers being satisfied with tonnages bought during the previous ones. Bangladeshi buyers have reached their limits regarding yards capacity for vessels beaching and the Indian market is reaching a breaking point with almost 45 vessels arriving at Alang. Pakistani buyers remained idle after their recent purchases of large tonnages. Chinese buyers are watching what is happening in the subcontinent are getting ready to import more tonnage for a right price. 11

13 Sale & Purchase Indicative Market Values ( 5 yrs old / Mill $ ) Bulk Carriers Week 21 Week 20 Change % Capesize Panamax Supramax Handysize Tankers VLCC Suezmax Aframax Panamax MR Weekly Purchase Enquiries SHIPTRADE P/E WEEKLY INDEX KOREA SPORE OTHER CHINA GREECE SUM / /10-1/11/ /11/ /11/ /11/ /11/ /12/ /9-4/10/ /10/ /10/ /12/ /12/ /12/ /12-3/ /1-10/1/ /1-17/1/ /1-24/1/ /1/ /2/ /2/ /2/ /2/ /3/ /3/ /03/ /03/ /03-4/4/2011 5/4/-11/4/ /4/ /4/ /4-2/5/ /5/ /5/ /5/ /5/

14 Sale & Purchase Reported Second-hand Sales Bulk Carriers Name Dwt DoB Yard SS Engine Gear Price Buyer Poinsetia Namura, JPN 9/2015 B&W Greek Suzaku Samsung, KR 4/2014 B&W Chinese Darya Brahma Mitsui, JPN 5/2011 B&W 4 X 30 T Quintana Hyundai Mipo Hyundai Mipo, KR - B&W 4 X 30 T Hyundai Mipo Hyundai Mipo, KR - B&W 4 X 30 T 33 Each En Bloc Greek Sanko Glory Oshima, JPN 4/2015 B&W 4 X 30 T Undisclosed Bulk Trader Sanoyas, JPN 11/2013 Sulzer 4 X 25 T 6 Undisclosed Coral Naikai, JPN 6/2011 B&W 4 X 25 T 3.6 Spore Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer Laura New Times, CHN 3/2013 B&W DH 44.5 Undisclosed Valerie Quingshan, CHN 12/2012 B&W DH 14 Undisclosed Samho Leader Samho, KR 6/2015 B&W DH Samho Valencia Samho, KR 7/2015 B&W DH Und Ardmore Sun Investor Murakami, JPN 5/2012 Mitsubishi DH 6.3 Phillipino Gas Name Dwt DoB Yard SS Engine Hull Price Buyer Clearsky Daewoo, KR - Wartsila DH Crystalsky Daewoo, KR - Wartsila DH 665 Stena Bluesky Daewoo, KR 8/2011 Kawasaki DH Trinity Arrow Koyo, JPN 3/2013 Kawasaki DH Und Japanese Diamond Star Poli Pelestrina, ITA 6/2015 Wartsila Und Undisclosed Container Name TEU DoB Yard SS Engine Gear Price Buyer Taicang Dragon Xiamen, CHN 8/2013 Wartsila 3 X 45 T 32 USA Miltiadis Junior III Nordic, GER 4/2015 B&W Greek Jade Trader Volkswerft, GER 12/2015 Sulzer 2 X 40 T Excess 10 South American 13

15 April-08 August-08 April-09 August-09 April-10 August-10 April-11 April-08 August-08 April-09 August-09 April-10 August-10 December- December- December- December- December- December- April-11 Newbuildings Newbuilding Orders No Type Dwt / Unit Yard Delivery Owner Price 3 Bulker Tsuneishi 2013/2014 United Ocean Bulker Jinhai 2012 Wilmar - 2 Bulker Rongsheng 2012 Golden Union - 10 Bulker Rongsheng 2012/2013 China Ship Fund Bulker Ha Long 2013 Thoresen Thai Agencies - 7 Bulker Nantong 2012/2013 Algoma - 10 Container HHI 2013/2014 NOL Container DSME 2013/2014 NOL Container Daewoo Mangalia 2013 Ofer Global Holding Group Container Sungdong - German 60 3 Container Samsung Heavy 2012 / 2013 Hanjin 60 Newbuilding Prices (Mill $) Japanese/ S. Korean Yards Newbuilding Resale Prices Bulk Carriers Capesize Panamax Supramax Handysize Tankers VLCC Suezmax Aframax Panamax MR Newbuilding Resale Prices Bulk Carriers (2008 Today) Tankers (2008 Today) $180,00 $160,00 $140,00 $120,00 $100,00 $80,00 $60,00 $40,00 $20,00 $0,00 CAPESIZE PANAMAX SUPRAMAX HANDYSIZE $250,00 $200,00 $150,00 $100,00 $50,00 $0,00 VLCC SUEZMAX AFRAMAX LR 1 MR 14

16 $ / Ldt $ / Ldt Demolitions Demolition Sales Vessel Type Built Dwt Ldt Buyer Country Price Sealink Majesty Bulker China 450 Zheng Feng Bulker China 455 Skogaland Bulker India 465 (as is Kakinada) Demolition Prices ($ / Ldt) Bangladesh China India Pakistan Dry Wet Demolition Prices Bulk Carriers (2008 Today) Tankers (2008 Today) Bangladesh Bangladesh China India China India Pakistan Pakistan 0 0 April 08 Aug 08 Dec 08 April 09 Aug 09 Dec 09 Apr 10 Aug 10 Dec 10 April 11 April 08 Aug 08 Dec 08 April 09 Aug 09 Dec 09 Apr 10 Aug 10 Dec 10 April 11 15

17 Financial Market Data Shipping Stocks Dry Bulk Company Stock Exchange Week 21 Week 20 Change (%) Baltic Trading Ltd (BALT) NYSE 6,38 6,52-2,15 Crude Carriers Corp (CRU) NYSE 13,29 14,38-7,58 Diana Shipping Inc (DSX) NASDAQ 11,53 11,40 1,14 Dryships Inc (DRYS) NASDAQ 3,73 3,82-2,36 Euroseas Ltd (ESEA) NASDAQ 4,73 4,60 2,83 Excel Maritime Carriers (EXM) NYSE 3,17 3,13 1,28 Eagle Bulk Shipping Inc (EGLE) NASDAQ 2,69 2,61 3,07 Freeseas Inc (FREE) NASDAQ 2,33 2,47-5,67 Genco Shipping (GNK) NYSE 7,35 7,20 2,08 Navios Maritime (NM) NYSE 5,24 5,10 2,75 Navios Maritime PTN (NMM) NYSE 18,81 19,23-2,18 Paragon Shipping Inc (PRGN) NASDAQ 2,61 2,89-9,69 Star Bulk Carriers Corp (SBLK) NASDAQ 2,01 2,20-8,64 Seanergy Maritime Holdings Corp (SHIP) NASDAQ 0,42 0,42 0,00 Safe Bulkers Inc (SB) NYSE 7,36 7,76-5,15 Golden Ocean Oslo Bors (NOK) 5,65 6,10-7,38 Tankers Capital Product Partners LP (CPLP) NASDAQ 9,17 9,74-5,85 General Maritime (GMR) NYSE 1,56 1,86-16,13 Omega Navigation Enterprises (ONAV) NASDAQ 0,76 0,81-6,17 TOP Ships Inc (TOPS) NASDAQ 0,61 0,60 1,67 Tsakos Energy Navigation (TNP) NYSE 10,14 10,47-3,15 Other Aegean Maritime Petrol (ANW) NYSE 8,18 8,85-7,57 Danaos Corporation (DAC) NYSE 6,65 6,72-1,04 StealthGas Inc (GASS) NASDAQ 5,13 5,54-7,40 Rio Tinto (RTP) NYSE 70,00 66,30 5,58 Vale (VALE) NYSE 31,88 30,41 4,83 ADM Archer Daniels Midland (ADM) NYSE 32,21 31,26 3,04 BHP Billiton (BHP) NYSE 94,21 93,18 1,11 Commodities Commodity Week 21 Week 20 Change (%) Brent Crude (BZ) 115,03 112,39 2,35 Natural Gas (NG) 4,51 4,23 6,62 Gold (GC) ,92 Copper (LME) Wheat (W) ,09 16

18 Financial Market Data / Bunker Prices / Port Congestion Currencies Week 21 Week 20 Change (%) EUR / USD 1,4296 1,4128 1,19 USD / JPY 80,78 81,76-1,20 USD / KRW 1082, ,07 USD / NOK 5,21 5,55-6,13 Bunker Prices IFO 380 IFO 180 MGO Piraeus Fujairah Singapore Rotterdam Houston Port Congestion* Port No of Vessels China Rizhao 25 Lianyungang 23 Qingdao 27 Zhanjiang 6 Yantai 4 India Chennai 8 Haldia 21 New Mangalore 18 Kakinada 30 Krishnapatnam 14 Mormugao 28 Kandla 34 Mundra 19 Paradip 40 Vizag 21 South America River Plate 313 Paranagua 73 Praia Mole 29 * 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 21 of year