Monday, July 19, Week 29 The Week at a Glance

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1 Monday, July 19, 21 - Week 29 The Week at a Glance No more bets please We have read that Goldman Sachs has to pay a fine of USD 55 million for the settlement of the well known case. Some players were expecting the fine to be much higher, maybe up to USD 1 billion. In any case, such endings prove that money markets and capital markets have become a huge casino and derivatives are not what most economists believe and promote that they are, a hedging tool. We would say that they are rather a betting tool! In more trade/ shipping news, the incident with the oil spill and explosion at the Dalian port in China has caused 8 to 9% of the ports berths to shut causing iron ore and grain discharge operations to stop. Done but Failed True or False: The 1996 built handy SANTA CHRISTINA has been reported sold. We understand that the vessel is neither sold nor for sale for the time being. Greek Listed Companies Last Fridays Closing Weekly Difference NYSE 679,51-99,2 Baltic Dry Indices* Last Fridays Closing Weekly Difference Baltic Dry Index Baltic Cape index Baltic Panamax Index Baltic Supramax Index Baltic HandySize Index VLCC 3, SUEZMAX 15, AFRAMAX 113, PANAMAX 72, PRODUCT 47, CAPESIZE 175, KAMSARMA X 81, SUPRAMAX XS 5, HANDYSIZE 28, Newbuilding Prices 4/21 5/21 6/21 7/21 $15 $15 $15 $11 $6 $6 $6 $7 $5 $5 $5 $55 $42 $42 $42 $45 $35 $35 $35 $35 $58 $58 $58 $6 $35 $36 $36 $38 $31 $31 $31 $34 $26 $26 $26 $28 Brent Prices NASDAQ 2179,5-17,4 Dry Ships 3,91, Genmar 5,85,19 Excel (merged with Quintana) 4,95 -,13 Diana 13,2,62 Top Ships,86,5 TEN 14,26,9 Currencies* Last Fridays Closing Weekly Difference Stealth Gas 4,44,4 EURO/USD 1,2936,3 Capital Product Partners 8,64,16 USD/JPY 86,64-2, Euroseas 3,62,21 USD/CNY 6,7755, Danaos 3,78 -,18 ISO Certified by Germanischer Lloyd *The above tables show last Friday's closing including the weekly balance. Copyright by Allied Shipbroking Inc

2 Comments 7, Filonos Street, 7th Floor, Piraeus , Greece Secondhand Sales Dry SIZE INDEX W-O-W CHANGE AVG T/C RATES W-O-W CHANGE TREND BDI CAPESIZE WEAKER PANAMAX FIRMER SUPRAMAX , WEAKER HANDYSIZE , WEAKER Bulk Carrier Vessel's Name DWT Built Country TEU Gears Engine Price Sale's Comment HAKKI DEVAL BRAZIL 4 X 1t CRANES B&W 2.5. USD SERRA DEVAL BRAZIL 4 X 7t CRANES B&W 2.5. USD SOLD EN BLOC WITH SERRA DEVAL TO SYRIAN BUYERS (YAMAK) - RGN USD 5.. EN BLOC SOLD EN BLOC WITH HAKKI DEVAL TO SYRIAN BUYERS (YAMAK) - RGN USD 5.. EN BLOC S1 MOON JAPAN 4 X 28t CRANES Hanshin 5.5. USD SOLD TO UNDISCLOSED BUYERS IMABARI RESALE 285 8/ 21 JAPAN USD SOLD TO GREEK BUYERS JIN GLORY KOREA, SOUTH 4 X 3t CRANES MAN-B&W 3.. USD JIN ORIENT KOREA, SOUTH 4 X 3t CRANES MAN-B&W 3.. USD SOLD EN BLOC WITH JIN ORIENT TO UNDISCLOSED BUYERS - RGN USD 6.. EN BLOC SOLD EN BLOC WITH JIN GLORY TO UNDISCLOSED BUYERS - RGN USD 6.. EN BLOC SMOOTH RISE JAPAN 4 X 25t CRANES Sulzer 9.. USD SOLD TO INDONESIAN BUYERS TAMARUGAL JAPAN 4 X 3t CRANES Mitsubishi USD SOLD TO GREEK BUYERS OCEAN PRELUDE JAPAN 4 X 3t CRANES Sulzer 22.. USD SOLD TO INDIAN BUYERS (PALONJI) Container Vessel's Name DWT Built Country TEU Gears Engine Price Sale's Comment VESTFOLD NETHERLANDS 1646 Stork-Werkspoor 6.5. USD SOLD TO UNDISCLOSED BUYERS SANTA CARLOTTA KOREA, SOUTH X 45t CRANES, 1 X 35t CRANES Sulzer USD SANTA CELINA KOREA, SOUTH X 45t CRANES Sulzer USD SANTA CATALINA SANTA CAROLINA KOREA, SOUTH X 45t CRANES Sulzer USD KOREA, SOUTH X 45t CRANES Sulzer USD SOLD EN BLOC WITH SANTA CAROLINA, SANTA CATALINA, SANTA CELINA AND SANTA CRISTINA TO GREEK BUYERS (METROSTAR) - RGN USD EN BLOC SOLD EN BLOC WITH SANTA CARLOTTA, SANTA CAROLINA, SANTA CATALINA AND SANTA CRISTINA TO GREEK BUYERS (METROSTAR) - RGN USD EN BLOC SOLD EN BLOC WITH SANTA CARLOTTA, SANTA CAROLINA, SANTA CELINA AND SANTA CRISTINA TO GREEK BUYERS (METROSTAR) - RGN USD EN BLOC SOLD EN BLOC WITH SANTA CARLOTTA, SANTA CATALINA, SANTA CELINA AND SANTA CRISTINA TO GREEK BUYERS (METROSTAR) - RGN USD EN BLOC General cargo Vessel's Name DWT Built Country TEU Gears Engine Price Sale's Comment MARTINA M JAPAN 56 3 X 15t DERRICKS Hanshin 1.. USD SOLD TO UNDISCLOSED BUYERS LUCKY STELLA JAPAN 2 X 3t CRANES, 1 X 3t DERRICKS B&W 7.8. USD SOLD TO TAIWANESE BUYERS SEAWAY NO JAPAN 3 X 25t CRANES B&W 5.5. USD SOLD TO S.KOREAN BUYERS ASIAN SPIRIT JAPAN 2 X 3,5t CRANES, 1 X 3t DERRICKS B&W 8.. USD SOLD TO S.KOREAN BUYERS 2

3 7, Filonos Street, 7th Floor, Piraeus , Greece Offshore Vessel's Name DWT Built Country TEU Gears Engine Price Sale's Comment SEABED VIKING (PSV) COCHIN BY-81 (PSV) COCHIN BY-82 (PSV) Offshore/tug TURKEY M.T.U USD INDIA Wartsila 54.. USD INDIA Wartsila 54.. USD Vessel's Name DWT Built Country TEU Gears Engine Price Sale's Comment GREATSHIP ABHA SRI LANKA MaK - SOLD TO NORWEGIAN BUYERS (FARTAD SHIPPING) SOLD EN BLOC WITH COCHIN BY-82 TO UNDISCLOSED BUYERS - RGN USD 14.. EN BLOC SOLD EN BLOC WITH COCHIN BY-81 TO UNDISCLOSED BUYERS - RGN USD 14.. EN BLOC SOLD TO UNDISCLOSED BUYERS ON PRIVATE TERMS 3

4 Comments 7, Filonos Street, 7th Floor, Piraeus , Greece SIZE INDEX W-O-W CHANGE BDTI BCTI Wet SIZE AVG SPOT EARNINGS W-O-W CHANGE AVG T/C RATES BSS 1 YR TREND VLCC $ 22,5. -4% 45. WEAKER SUEZMAX $ 29,. 65% 32. FIRMER AFRAMAX $ 16,. 33% 2. FIRMER CLEAN MR $ 12,. 9% 13.5 FIRMER Tanker Vessel's Name DWT Built Country DB DS Engine Price Sale's Comment ANDINO PARK (coated, IMO III/II) FREJA SPRING (coated, IMO III) JAPAN Y Y Mitsubishi 3.5. USD SOLD TO FAR EASTERN BUYERS JAPAN Y Y B&W USD SOLD TO INDIAN BUYERS (SANMAR) SUBJECT INSPECTION SUN ROSE JAPAN Y Y Sulzer 1.8. USD SOLD TO UNDISCLOSED BUYERS HYUNDAI BANNER Gas tanker KOREA, SOUTH N N Sulzer USD SOLD TO NETHERLAND BASED BUYERS (SBM OFFSHORE) Vessel's Name DWT Built Country DB DS Engine Price Sale's Comment SYRACUSE JAPAN N N B&W - SOLD TO THAILAND BASED BUYERS (SEAMANSHIP) ON PRIVATE TERMS 4

5 7, Filonos Street, 7th Floor, Piraeus , Greece Baltic Dry Indices Year BDI Max BDI Avg BDI Min BCI Max BCI Avg BCI Min BPI Max BPI Avg BPI Min BSI Max BSI Avg BSI Min Baltic Dry Index /1/85 1/7/85 1/1/86 1/7/86 1/1/87 1/7/87 1/1/88 1/7/88 1/1/89 1/7/89 1/1/9 1/7/9 1/1/91 1/7/91 1/1/92 1/7/92 1/1/93 1/7/93 1/1/94 1/7/94 1/1/95 1/7/95 1/1/96 1/7/96 1/1/97 1/7/97 1/1/98 1/7/98 1/1/99 1/7/99 1/1/ 1/7/ 1/1/1 1/7/1 1/1/2 1/7/2 1/1/3 1/7/3 1/1/4 1/7/4 1/1/5 1/7/5 1/1/6 1/7/6 1/1/7 1/7/7 1/1/8 1/7/8 1/1/9 1/7/9 1/1/1 1/7/1 1/1/11 Baltic CapeSize Index \6\ 1\8\ 1\1\ 1\12\ 1\2\1 1\4\1 1\6\1 1\8\1 1\1\1 1\12\1 1\2\2 1\4\2 1\6\2 1\8\2 1\1\2 1\12\2 1\2\3 1\4\3 1\6\3 1\8\3 1\1\3 1\12\3 1\2\4 1\4\4 1\6\4 1\8\4 1\1\4 1\12\4 1\2\5 1\4\5 1\6\5 1\8\5 1\1\5 1\12\5 1\2\6 1\4\6 1\6\6 1\8\6 1\1\6 1\12\6 1\2\7 1\4\7 1\6\7 1\8\7 1\1\7 1\12\7 1\2\8 1\4\8 1\6\8 1\8\8 1\1\8 1\12\8 1\2\9 1\4\9 1\6\9 1\8\9 1\1\9 1\12\9 1\2\1 1\4\1 1\6\1 1\8\1 1\1\1 Baltic Panamax Index \6\ 1\8\ 1\1\ 1\12\ 1\2\1 1\4\1 1\6\1 1\8\1 1\1\1 1\12\1 1\2\2 1\4\2 1\6\2 1\8\2 1\1\2 1\12\2 1\2\3 1\4\3 1\6\3 1\8\3 1\1\3 1\12\3 1\2\4 1\4\4 1\6\4 1\8\4 1\1\4 1\12\4 1\2\5 1\4\5 1\6\5 1\8\5 1\1\5 1\12\5 1\2\6 1\4\6 1\6\6 1\8\6 1\1\6 1\12\6 1\2\7 1\4\7 1\6\7 1\8\7 1\1\7 1\12\7 1\2\8 1\4\8 1\6\8 1\8\8 1\1\8 1\12\8 1\2\9 1\4\9 1\6\9 1\8\9 1\1\9 1\12\9 1\2\1 1\4\1 1\6\1 1\8\1 1\1\1 Baltic Supramax - HandySize Index \12\2 1\2\3 1\4\3 1\6\3 1\8\3 1\1\3 1\12\3 1\2\4 1\4\4 1\6\4 1\8\4 1\1\4 1\12\4 1\2\5 1\4\5 1\6\5 1\8\5 1\1\5 1\12\5 1\2\6 1\4\6 1\6\6 1\8\6 1\1\6 1\12\6 1\2\7 1\4\7 1\6\7 1\8\7 1\1\7 1\12\7 1\2\8 1\4\8 1\6\8 1\8\8 1\1\8 1\12\8 1\2\9 1\4\9 1\6\9 1\8\9 1\1\9 1\12\9 1\2\1 1\4\1 1\6\1 1\8\1 1\1\1 5

6 7, Filonos Street, 7th Floor, Piraeus , Greece Secondhand Sales Statistics Current Secondhand Activity per / Size/ Invested Capital During 21 Secondhand Activity per / Size/ Invested Capital...during 29 A. Dry Size DWT Invested Capital DWT Invested Capital A. Dry $ B. Tanker $ A. Dry Total 1. Minibulk (up to 9, Handy (1, - 39, Handymax (4, - 59, Panamax (6, - 79, Capesize (8, $ $ $ $ $ $ C. Container $ D. Reefer $ E. RoRo Cargo/ Ferry/ Passenger $ F. Miscellaneous $ Grand Total $ Bulk Carriers Sales Per during 21 1 % CAPESIZE 17 % PANAMAX 2 % HANDYMAX 4 % HANDY 13 % MINIBULK B. Tanker 1. Minitank (up to 9, Product (1, - 59, Panamax (6, - 79, Aframax (8, - 119, Suezmax (12, - 199, VLCC (2, - 299, ULCC (3, $ $ $ $ $ $ $ Tankers Sales Per during 21 7 % ULCC 7 % VLCC 8 % SUEZMAX 11 % AFRAMAX 5 % PANAMAX 37 % PRODUCT 25 % MINITANK B. Tanker total $ C. Container Total $ D. Reefer Total $14.1. E. RoRo Cargo/ Ferry/ Passenger Total $ F. Miscellaneou s Total $48.8. Grand Total $

7 7, Filonos Street, 7th Floor, Piraeus , Greece Invested Capital in Secondhand per month as of January 29 Year Month Invested Capital Total Total April-29 $ May-29 $ June-29 $ July-29 $ January-29 $ February- 29 $ March-29 $ August-29 $ September- 29 $ October-29 $ November- 29 $ December- 29 $ $ January-21 $ February- 21 $ March-21 $ April-21 $ May-21 $ June-21 $ July-21 $ $ Dry - Buyers' Nationality 19 % OTHER 3 % KOREA SOUTH 2 % INDIA 1 % GERMANY 1 % USA 1 % NORWAY 2 % INDONESIA 5 % TURKEY 22 % CHINA PEOPLE'S REPUBLIC OF 2 % UNKNOWN Wet - Buyers' Nationality 38 % OTHER 1 % KOREA SOUTH 4 % INDIA 2 % GERMANY 6 % USA 7 % NORWAY 6 % INDONESIA 2 % TURKEY 4 % CHINA PEOPLE'S REPUBLIC OF 14 % UNKNOWN 17 % GREECE Container - Buyers' Nationality 16 % OTHER 3 % KOREA SOUTH % INDIA 7 % GERMANY 1 % USA 3 % NORWAY 3 % INDONESIA 8 % TURKEY 2 % CHINA PEOPLE'S REPUBLIC OF 12 % UNKNOWN Invested Capital Graph - Invested Capital in Secondhand per month as of January /29 2/29 3/29 4/29 5/29 6/29 7/29 Invested Capital Per Month 8/29 9/29 1/29 Months Total Capital 11/29 12/29 1/21 No Of Buyers Nationality during 21 - Top 1 ( vessels per sector) B. Tanker C. Container D. Reefer Buyer's Country A. Dry Grand Total GREECE UNKNOWN CHINA, PEOPLE'S REPUBLIC OF TURKEY INDONESIA NORWAY USA GERMANY INDIA KOREA, SOUTH Other Grand Total Buyers Nationality during 21 - Top 1 (Invested Capital per sector) B. Tanker C. Container D. Reefer Buyer's Country A. Dry Grand Total GREECE UNKNOWN CHINA, PEOPLE'S REPUBLIC OF USA INDIA NORWAY TURKEY GERMANY U.A.E. (DUBAI) Other Grand Total /21 3/21 4/21 5/21 6/21 7/ Vesels 7

8 7, Filonos Street, 7th Floor, Piraeus , Greece Demolition Sales Type Vessel's Name DWT Built Country LDT Price/ ldt Sale's Comment RO-RO CARGO KEN JAPAN SOLD TO UNDISCLOSED BREAKERS ON PRIVATE TERMS GENERAL CARGO GENERAL CARGO GEA SINGAPORE SOLD TO UNDISCLOSED BREAKERS ON PRIVATE TERMS SACHA SPAIN SOLD TO UNDISCLOSED BREAKERS ON PRIVATE TERMS CONTAINER MACEDON RO-RO CARGO NICEA GERMANY, FEDERAL REPUBLIC OF GERMAN DEMOCRATIC REPUBLIC SOLD TO TURKEY SOLD TO UNDISCLOSED BREAKERS ON PRIVATE TERMS ON "AS IS SINGAPORE DELIVERY UNDER TOW RO-RO CARGO BALTIC EAGER FINLAND - - SOLD TO UNDISCLSOED BREAKERS ON PRIVATE TERMS RO-RO CARGO TOR MINERVA SWEDEN SOLD TO INDIA RO-RO CARGO PACIFIC BREEZE JAPAN - - SOLD TO UNDISCLOSED BREAKERS ON PRIVATE TERMS GENERAL CARGO RO-RO CARGO KOLA FINLAND - - SOLD TO INDIA ON PRIVATE TERMS NILEDUTCH PROSPECTOR FINLAND 15 - SOLD TO INDIA ON PRIVATE TERMS BC DONG SHAN LING JAPAN - 38 SOLD TO INDIA (VSL'S CURRENT NAME:JAN LIN) BC VERGINA JAPAN SOLD TO CHINA BC HAINA A JAPAN SOLD TO UNDISCLOSED BREAKERS ON PRIVATE TERMS TANKER OVERSEAS PHILADELPHIA UNITED STATES OF AMERICA SOLD TO INDIA TANKER CHAMPION BRALI KOREA, SOUTH SOLD TO INDIA BC CAPE ATHENS JAPAN SOLD TO INDIA 8

9 7, Filonos Street, 7th Floor, Piraeus , Greece Demolition Statistics For 21 Current Demolition Activity per / Size A. Dry Size No Of DWT No Of DWT 1. Minibulk (up to 9, Handy (1, - 39, Handymax (4, - 59, Panamax (6, - 79, Capesize (8, A. Dry Total B. Tanker 1. Minitank (up to 9, Product (1, - 59, Panamax (6, - 79, Aframax (8, - 119, Suezmax (12, - 199, VLCC (2, - 299, ULCC (3, B. Tanker Total C. Container Total D. Reefer Total E. RoRo Cargo/ Ferry/ Passenger Total F. Miscellaneous Total Grand Total Please Note that dry trading combination carriers are included in the dry sector and wet trading ones in the tanker sector. 9

10 7, Filonos Street, 7th Floor, Piraeus , Greece Country Demolition Activity by Country DWT DWT BANGLADESH BELGIUM CHINA, PEOPLE'S REPUBLIC OF FAR EAST INDIA INDIAN OCEAN INDONESIA JAPAN ' Average Age For Demolition A. Dry 3,6 3,4 34,3 31,1 B. Tanker 26,4 28,9 29,4 29,1 C. Container 26,7 28,9 3,6 28,8 D. Reefer 28,9 3,3 33,1 29 E. RoRo Cargo/ Ferry/ Passenger F. Miscellaneous 29,2 35,7 33,2 36,8 31,8 27, ,7 KOREA, SOUTH MIDDLE EAST PAKISTAN SINGAPORE TURKEY U.A.E. (DUBAI) UNKNOWN Grand Total Demolition of BCs by percentage for % Minibulk 72 % Handy 5 % Handymax 9 % Panamax 2 % Capesize Demolition Activity By DWT Demolition Per Month dwt no of vessels Demolition of Tankers by percentage for % Minitank 58 % Product 6 % Panamax 11 % Aframax 5 % Suezmax 6 % VLCC % ULCC 1/29 2/29 3/29 4/29 5/29 6/29 7/29 8/29 9/29 1/29 11/29 12/29 1/21 2/21 3/21 4/21 5/21 6/21 7/21 Months Sum of DWT V essels Year Dry Demolition activity since 2 DWT of Dry Tankers DWT of Tankers DWT

11 7, Filonos Street, 7th Floor, Piraeus , Greece Contact Details ILIAS BOLIS AOH: MOBILE: GEORGE DASKALAKIS AOH: MOBILE: STAVROS DRAKOGIANNOPOULOS AOH: MOBILE: SAKIS DRAKOGIANNOPOULOS AOH: MOBILE: NASSOS HATZIGEORGIOU AOH: MOBILE: COSTAS KARADIMAS AOH: MOBILE: JOHN KOSTOYANNIS AOH: MOBILE: THASSOS PAPOUIS AOH: MOBILE: THEODOROS MOISSOGLOU AOH: MOBILE: TASSOS PROSIOS AOH: MOBILE: JOHN STASSINAKIS AOH: MOBILE: EVAGELOS TOBALOGLOU AOH: MOBILE: COSTIS TSALPATOUROS AOH: MOBILE: PLUTON VARVAROS AOH: MOBILE: ALLIED SHIPBROKING INC. 7, Filonos Street, 7 th Floor, Piraeus , Greece Tel: Fax: / 19 snp@allied-shipbroking.gr ALLIED CHARTERING S.A. 7, Filonos Street, 5th Floor, Piraeus , Greece Tel : Fax: drycargo@allied-chartering.gr s: tanker@allied-chartering.gr Visit 11