Weekly Market Report

Week 7 Tuesday 17th February 29 Weekly Market Report Sale & Purchase Newbuilding Secondhand Demolition Chartering World Economy News President Barack Obama today signs into law one of the largest pieces of legislation in U.S. history, a $787 billion behemoth that combines massive tax breaks and government spending designed to resuscitate the moribund U.S. economy. The size of the new law and its speed moving through Congress -- it was approved within weeks of Obama s inauguration -- place it among the most significant legislative accomplishments since President Franklin Roosevelt overhauled the U.S. government in his first 1 days, historians and political analysts say. The package contains roughly $3 billion in tax breaks for individuals and businesses, more than $25 billion in direct aid to distressed states and individuals, and almost $2 billion to modernize and improve the nation s infrastructure. Obama, who will sign the legislation in Denver, the city where he accepted his party s nomination in August, said it will save or create about 3.5 million jobs. (Bloomberg) Energy & Commodities Oil prices slid and base metals retreated on Monday as concerns about the outlook for the global economy were underlined by a bigger-than-expected downturn in Japanese economic activity in the fourth quarter. ICE April Brent lost 71 cents at $44.1 a barrel while Nymex March West Texas Intermediate dipped 46 cents to $37.5 a barrel. Noting that crude oil stocks in the developed world have reached record highs for this time of the year, analysts at Goldman Sachs said additional supply cuts were needed to rebalance the market. Goldman said that in the absence of further supply reductions, the surplus in the crude market would transmit into product markets (petrol and heating oil) as improved profit margins for refineries would encourage product stocks to increase. The International Energy Agency warned that the global oil market could face another serious supply crunch from 21 as oil producers have delayed investment projects due to the current weak state of demand. Also warned that the collapse in oil prices and global economic recession were slowing investment in alternative energy sources such as renewable and nuclear. (Financial Times) Shipping News Singapore s Neptune Orient Lines on Tuesday became the first container shipping company to forecast full-year losses for 29 after it revealed fourth-quarter container volumes were 14 per cent below those for 27. The company, whose APL shipping line operates the world s seventh largest container ship fleet, said it expected the full year to reflect those in the last three months of 28. (Financial Times) Containerships continue to flood into layup with nearly 4 box vessels now idle, new figures show. The data has sparked fears overcapacity will blight the sector for up to five years. AXS-Liner says 392 containerships, with a capacity of 1.1 million teu, are now idle. This is a sharp rise from 33 vessels, or 8, teu only two weeks ago. AXS says the figure, equal to 8.8% of total capacity, is the highest on recorded, way above the 3.2% seen in March 22 and the 5% reached in 1986 when the whole fleet of US Lines was frozen. (Tradewinds) Chartering (Wet: Stable / Dry: Stronger) For the past week, on the Dry market, the BDI was on Friday (13/2/29) 1,98, +266 points up from end of previous week s levels. On the Wet market, the BDTI on Friday (13/2/29) was 589, +8 points up and the BCTI at 617, +8 points up from end of previous week s levels. Sale & Purchase (Wet: Stable/ Dry: Stable) The Sale and Purchase market has some interesting deals to show for the past week. On the tanker side, the DH Suezmax Romea Champion (154,97dwt-built 1992) was reported sold under undisclosed terms. On the bulk carriers side, the panamax Stoikos (67,359dwtbuilt 1985) was sold to Chinese for 6$m, the supramax Eleni Ar (52,37dwt-built 1994) was bought by Indonesians for 12.5$m and the more modern Mutsushio (5,363dwt-built 22) was acquired by Massoel for 21.75$m, including 1 year TC at about 9,. The handymax Mystras (48,377dwt-built 21) was sold to Turkish for 21 $m. The handysize Starling (38,3dwt-built 1984) was sold for 3.5 $m, the Discovery II (32,813dwt-built 1984) was purchased by Elyros Bulk for 2.3$m, through auction and lastly the Cynthia Winner (23,641dwt-built 28) was sold to Vietnamese for 21$m. Newbuilding (Wet: Weaker / Dry: Weaker) The Newbuilding market remains very quiet and prices continue to fall. Demolition (Wet: Stable / Dry: Stable) The demolition market remains stable, with great number of deals concluded this week. Bangladeshi breakers have acquired the tanker Retalink III (4,999dwt-2,19ldt-built 1979) for 258$/ldt. Indian breakers have acquired the handysize bulker Borc (28,16dwt-1,ldtbuilt 1972) for 27$/ldt, the container Golden Bridge (1,16teu- 7,451ldt-built 1984) for 275$/ldt, the tween decker Rocio B (19,184dwt-9,627ldt-built 1982) for 188$/ldt, asis Portugal, the mini bulk Fort George (14,631dwt-5,615ldt-built 1975) for 25$/ldt and finally the tween decker Stella M (8,825dwt-3,534ldt-built 1985) for 164$/ldt, undertow, asis Ajman. Pakistani breakers have bought the handysize bulkers Ellispontos (31,255dwt-7,296ldt-built 1981) for 265$/ldt and Gem (26,843dwt-6,513ldt-built 1977) for 264/ldt. Intermodal Research 1 17/2/29

Wet Market Week 7 Week 6 4q28 4q27 Vessel Routes WS WS ±% points points 265k AG-JAPAN 53 55,419 4 35,81 33% 62,821 111,328 VLCC Suez max Aframax Clean Dirty VLCC Suez max Aframax Panamax MR Handy size $m 17 16 15 14 13 12 11 1 9 8 7 6 5 4 3 Spot Rates 28k AG-USG 43 46,273 35 33,817 23% 5,293 71,263 26k WAF-USG 58 61,518 58 61,5 % 77,361 76,546 13k MED-MED 7 34,356 83 44,55-16% 72,131 66,729 13k WAF-USAC 7 34,424 73 35,91-4% 58,427 49,575 13k AG-CHINA 6 27,539 7 35,135-14% 45,52 54,418 8k AG-EAST 75 19,394 7 17,27 7% 37,968 32,129 8k MED-MED 9 26,272 7 16,314 29% 42,778 36,21 8k UKC-UKC 75 22,873 78 24,48-4% 55,277 44,727 7k CARIBS-USG 75 13,493 1 23,7-25% 39,25 26,372 75k AG-JAPAN 11 32,336 15 3,126 5% 48,716 22,954 55k AG-JAPAN 135 3,9 125 27,63 8% 41,66 22,616 37K UKC-USAC 14 18,789 135 17,623 4% 19,299 22,31 3K MED-MED 115 12,26 12 13,483-4% 34,146 33,683 55K UKC-USG 95 19,21 1 2,711-5% 37,82 3,752 55K MED-USG 95 17,768 1 19,12-5% 35,221 28,525 5k CARIBS-USAC 7 7,479 73 7,986-4% 32,851 26,113 TC Rates Week 7 Week 6 ±% 29 28 27 3k 1yr TC 55,25 57,25-3.5% 56,25 73,798 55,798 3k 3yr TC 45,2 45,2.% 45,557 58,844 48,585 15k 1yr TC 41,25 41,25.% 41,821 47,442 44,72 15k 3yr TC 37,7 37,7.% 37,914 41,123 38,777 15k 1yr TC 26,25 26,75-1.9% 27,67 36,43 33,394 15k 3yr TC 25,95 26,2-1.% 26,271 3,7 29,83 7k 1yr TC 25,25 26,25-3.8% 27,25 29,471 29,567 7k 3yr TC 23,2 23,2.% 24,629 26,686 27,113 45k 1yr TC 19,25 18,75 2.7% 2,36 23,731 26,154 45k 3yr TC 18,2 18,2.% 19,557 22,527 23,488 36k 1yr TC 18,25 17,25 5.8% 18,893 22,22 23,519 36k 3yr TC 17,2 17,2.% 18,521 2,585 21,517 Tankers SH Values VLCC 3K DH 5Y Suezmax 15K DH 5Y Aframax 15K DH 5Y Panamax 7K DH 5Y MR 4K 5Y 5-Jan-7 2-Jan-7 4-Feb-7 19-Feb-7 6-Mar-7 21-Mar-7 5-Apr-7 2-Apr-7 5-May-7 2-May-7 4-Jun-7 19-Jun-7 4-Jul-7 19-Jul-7 3-Aug-7 18-Aug-7 2-Sep-7 17-Sep-7 2-Oct-7 17-Oct-7 1-Nov-7 16-Nov-7 1-Dec-7 16-Dec-7 31-Dec-7 15-Jan-8 3-Jan-8 14-Feb-8 29-Feb-8 15-Mar-8 3-Mar-8 14-Apr-8 29-Apr-8 14-May-8 29-May-8 13-Jun-8 28-Jun-8 13-Jul-8 28-Jul-8 12-Aug-8 27-Aug-8 11-Sep-8 26-Sep-8 11-Oct-8 26-Oct-8 1-Nov-8 25-Nov-8 1-Dec-8 25-Dec-8 9-Jan-9 24-Jan-9 8-Feb-9 23-Feb-9 WS points WS points 4 35 3 25 2 15 1 5 4 35 3 25 2 15 1 5 DIRTY - WS RATES TD3 TD8 TD5 TD4 2-Jan-7 2-Feb-7 2-Mar-7 2-Apr-7 2-May-7 2-Jun-7 2-Jul-7 2-Aug-7 2-Sep-7 2-Oct-7 2-Nov-7 2-Dec-7 2-Jan-8 2-Feb-8 2-Mar-8 2-Apr-8 2-May-8 2-Jun-8 2-Jul-8 2-Aug-8 2-Sep-8 2-Oct-8 2-Nov-8 2-Dec-8 2-Jan-9 2-Feb-9 2-Mar-9 CLEAN - WS RATES TC2 TC6 TC4 TC1 2-Jan-7 2-Feb-7 2-Mar-7 2-Apr-7 2-May-7 2-Jun-7 2-Jul-7 2-Aug-7 2-Sep-7 2-Oct-7 2-Nov-7 2-Dec-7 2-Jan-8 2-Feb-8 2-Mar-8 2-Apr-8 2-May-8 2-Jun-8 2-Jul-8 2-Aug-8 2-Sep-8 2-Oct-8 2-Nov-8 2-Dec-8 2-Jan-9 2-Feb-9 2-Mar-9 1, 9, 8, 7, 6, 5, 4, 3, 2, 8, 7, 6, 5, 4, 3, 2, Tankers 1YR TC RATES VLCC Suezmax Aframax Panamax MR 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 5-Mar-9 Tankers 3YR TC RATES VLCC Suezmax Aframax Panamax MR 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 5-Mar-9 The Tankers Sale and Purchase market is moving slowly, with not so much activity to show for the past couple of weeks. Nevertheless, there were 2 deals concluded this week: The DH Suezmax Romea Champion (154,97dwt-built 1992) was reported sold under undisclosed terms. Also, the DH small tanker Gan Gesture (17,dwtbuilt 28) was bought by an undisclosed buyer for 32 $m. Intermodal Research 2 17/2/29

Dry Market Handysize Handymax Supramax Panamax Capesize Baltic Indices Week 7 Week 6 13/2/29 6/2/29 ±% 29 28 27 Index Index Index Index Index BDI 1,98 1,642 16% 1,393 6,663 7,321 BCI 3,335 33,527 2,999 3,11 11% 1,624 9,577 1,172 BPI 1,399 11,257 1,251 1,86 12% 79 6,342 7,283 BSI 1,19 12,543 854 9,28 39% 661 4,225 4,788 BHSI 475 6,97 44 5,961 18% 529 2,257 2,469 Week 7 Period Week 6 ±% 29 28 27 17K 6mnt TC 31,25 35,25-11% 17,25 117,43 118,66 17K 1yr TC 29,7 33,45-11% 22,325 111,729 17,118 17K 3yr TC 27,25 27,25 % 23,25 82,429 76,58 7K 6mnt TC 15,2 16,2-6% 9,388 57,623 58,996 7K 1yr TC 14,5 16,25-11% 11,531 55,887 52,567 7K 3yr TC 17,2 16,7 3% 13,45 44,556 39,974 52K 6mnt TC 12,25 1, 23% 7,75 47,159 48,822 52K 1yr TC 12,45 12,7-2% 9,7 45,71 45,92 52K 3yr TC 13,25 13,25 % 11,938 34,38 34, 45k 6mnt TC 1,7 6,95 54% 6,575 41,681 43,639 45k 1yr TC 11, 8,5 29% 8,375 38,923 4,12 45k 3yr TC 11,7 1,45 12% 1,325 28,431 29,63 3K 6mnt TC 9,5 7,75 23% 5,813 3,547 31,596 3K 1yr TC 9,45 9,2 3% 7,75 29,686 28,32 3K 3yr TC 1,5 11,5-9% 9,438 22,87 22,113 Index 2, 18, 16, 14, 12, 1, 8, 6, 4, 2, 2, 15, 1, 5, 2-Jan-5 2-Apr-5 2-Jul-5 2-Oct-5 2-Jan-6 2-Apr-6 Baltic Indices BCI BPI BSI BHSI BDI 2-Jul-6 2-Oct-6 2-Jan-7 2-Apr-7 2-Jul-7 2-Oct-7 2-Jan-8 2-Apr-8 2-Jul-8 Average T/C Rates for Baltic Indices AVR 4TC BCI AVR 4TC BPI AVR 5TC BSI AVR 6TC BHSI 25, 2-Jan-5 2-Apr-5 2-Jul-5 2-Oct-5 2-Jan-6 2-Apr-6 2-Jul-6 2-Oct-6 2-Jan-7 Dry Bulkers 1 Year Period Rates Capesize Panamax Handymax Supramax Handysize 2, 18, 16, 14, 12, 1, 8, 6, 4, 2, 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 5-Mar-9 2-Apr-7 2-Jul-7 2-Oct-7 2-Jan-8 2-Apr-8 2-Jul-8 2-Oct-8 2-Oct-8 2-Jan-9 2-Jan-9 $m 16 15 14 13 12 11 1 9 8 7 6 5 4 3 2 1 Bulk Carriers SH Values Capesize 17K 5Y Handymax 45K 5Y Panamax 73K 5Y Handysize 3K 5Y 4-Jan-8 19-Jan-8 3-Feb-8 18-Feb-8 4-Mar-8 19-Mar-8 3-Apr-8 18-Apr-8 3-May-8 18-May-8 2-Jun-8 17-Jun-8 2-Jul-8 17-Jul-8 1-Aug-8 16-Aug-8 31-Aug-8 15-Sep-8 3-Sep-8 15-Oct-8 3-Oct-8 14-Nov-8 29-Nov-8 14-Dec-8 29-Dec-8 13-Jan-9 28-Jan-9 12-Feb-9 27-Feb-9 Dry Bulkers 3 Year Period Rates Intermodal Research 3 17/2/29 14, 12, 1, 8, 6, 4, 2, Capesize Panamax Handymax Supramax Handysize 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 5-Mar-9 The Dry Bulkers Sale and Purchase market is looking more lively, with several deals concluded for this past week. In particular, the kamsarmax Bellflower (76,423dwt-built 24) was sold to Greeks for 5$m. Golden Ocean says that this sale will go through at a cut price 5$m, which represents a fall from 76$m price agreed when the original deal was penned in April 28, with delivery 2/29. The value now for a similar kamsarmax is considered to be excess 3$m. In November, the similar bulk carrier Nord Saturn (76,62dwt-built 25) was sold to Sea Justice for 3$m. The panamax Stoikos (67,359dwt-built 1985) was sold to Chinese for 6$m and the 1 year older Dimitris Perrotis (64,933dwt-built 1984) was sold also to Chinese for 5$m. In the supramax size, the Eleni Ar (52,37dwt-built 1994) was bought by Indonesians for 12.5$m and the more modern Mutsushio (5,363dwt-built 22) was acquired by Massoel for 21.75$m, including 1 year TC at about 9,. The handymax Mystras (48,377dwt-built 21) was sold to Turkish for 21$m. In November, the similar but 2 years older Seabee (46,671dwt-built 1999) was bought by Vosco for 22.5$m. In the handysize sector, the Starling (38,3dwt-built 1984) was sold for 3.5$m, the Team Effort (37,744dwt-built 1985) was acquired by Greeks for 4.8$m, the Eliet (34,287dwt-built 1983) fetched 2.7$m, the Sifnos Pride (33,24dwt-built 1984) was sold for 2.4$m, basis SS/ DD due, the Discovery II (32,813dwt-built 1984) was purchased by Elyros Bulk for 2.3$m, through auction and lastly the Cynthia Winner (23,641dwt-built 28) was sold to Vietnamese for 21$m.

Secondhand Sales Intermodal Research 4 17/2/29

New Building Market Tankers NB Prices (m$) Bulk Carriers NB Prices (m$) million $ 18 16 14 12 1 8 6 4 2 VLCC Suezmax Aframax LR1 MR million $ 11 1 9 8 7 6 5 4 3 2 1 Capesize Panamax Supramax Handysize Bulkers Tankers 1-Jan-6 1-Apr-6 1-Jul-6 1-Oct-6 1-Jan-6 1-Apr-6 1-Jul-6 1-Oct-6 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 Gas 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 Indicative Newbuilding Prices (million$) Vessel Week Week 7 6 ±% 29 28 27 Capesize 17k 78.7 82. -4.% 81 96 87 Panamax 75k 4.8 41.6-2.% 42 54 47 Supramax 57k 36.1 37.1-2.6% 39 48 43 Handysize 3k 26.2 27.1-3.4% 29 37 33 VLCC 3k 14. 143.6-2.5% 141 155 138 Suezmax 15k 81.6 85.5-4.5% 84 96 86 Aframax 11k 67.9 69.9-2.9% 7 78 69 LR1 7k 57.3 58.3-1.7% 58 66 61 MR 47k 43.1 44. -2.2% 45 52 5 LPG M3 75k 87.7 89.5-2.% 88 94 92 LPG M3 52k 78.3 79.5-1.5% 79 85 78 LPG M3 23k 5.7 51.7-2.% 51 55 52 Please note that due to the lack of new newbuilding orders in most of the above sectors, the prices are estimates. The Newbuilding market remains almost standstill, with demand lowering to zero levels and prices softening. The newbuilding expansion noticed in the last couple of years has resulted into a large orderbook and full yards. The problem of oversupply and the global economic crisis is pushing owners away of newbuilding projects. This week two newbuilding orders were reported: -Atlantska Plovidba switched 1 Capesize order to 2 Chemical tankers of 5,4dwt each from STX with delivery 4q211, for an undisclosed price and unknown if there is any extra cost involved. -Volga Shipping ordered 1MPP vessels of 5,dwt each from Qingdao Hyundai SY with delivery 21/211 for 12$m each. Intermodal Research 5 17/2/29

Demolition Market The demolition market continues to attract shipowners. Demand remains more or less stable and supply grows. Prices continue to fluctuate, even though market fundamentals and sentiment remain steady. The only negative factor for the past week was the softening in steel prices. Bangladeshi breakers remain the most powerful players in the market, offering the highest demo prices, about 35$/ldt for wet and 265$/ldt for dry tonnage. Although they present very picky and focus their demand on tankers and large dry units. This week Bangladeshi breakers have acquired the tanker Retalink III (4,999dwt-2,19ldt-built 1979) for 258$/ldt. Indicative Demolition Prices ($/ldt) Markets Week Week 7 6 ±% 29 28 27 Bangladesh 35 3 1.7% 292 591 43 India 27 27.% 277 566 372 Pakistan 275 275.% 28 555 368 China 255 24 6.3% 239 385 254 Bangladesh 265 265.% 258 538 373 India 25 24 4.2% 251 522 35 Pakistan 255 255.% 254 56 342 China 24 23 4.3% 228 339 229 Indian demolition market dominated the sales this week. Indian ship recyclers are offering around 27$/ldt for wet and around 25$/ldt for dry tonnage. This week, Indian breakers have acquired the handysize bulker Borc (28,16dwt-1,ldt-built 1972) for 27$/ldt, the containers Jebel Ali (1,242teu-8,542ldt-built 1979) for an undisclosed price and Golden Bridge (1,16teu-7,451ldt-built 1984) for 275$/ ldt. Also, Indian ship recyclers have bought the tween decker Rocio B (19,184dwt-9,627ldt-built 1982) for 188$/ldt, asis Portugal, the mini bulk Fort George (14,631dwt-5,615ldt-built 1975) for 25$/ldt and finally the tween decker Stella M (8,825dwt-3,534ldt-built 1985) for 164$/ldt, undertow, asis Ajman. In Pakistan, supply is growing, as breakers have managed to offer competitive prices; about 275$/ldt for wet and about 2554/ldt for dry tonnage. As a result, Pakistani breakers have attracted a couple of deals this week. In particular, this week Pakistani breakers have bought the handysize bulkers Ellispontos (31,255dwt-7,296ldt-built 1981) for 265$/ldt, Lucky lady (27,421dwt-6,357ldt-built 1975) for an undisclosed price and Gem (26,843dwt-6,513ldt-built 1977) for 264/ldt. Chinese ship recyclers, after the festive season, have entered the market and have concluded the purchase of the tween decker Cape Moreton (16,25dwt-6,355ldt-built 1977) for 255$/ldt. Wet Dry $/ldt 8 7 6 5 4 3 2 1 1-Jan-5 1-Apr-5 1-Jul-5 1-Oct-5 1-Jan-6 1-Apr-6 1-Jul-6 Wet Demolition Prices Bangladesh India Pakistan China 1-Oct-6 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 $/ldt 8 7 6 5 4 3 2 1 Dry Demolition Prices Bangladesh India Pakistan China 1-Jan-5 1-Apr-5 1-Jul-5 1-Oct-5 1-Jan-6 1-Apr-6 1-Jul-6 1-Oct-6 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 Intermodal Research 6 17/2/29

Stock Exchange Data Currencies Commo ditites Market Data 16-Feb-9 13-Feb-9 12-Feb-9 11-Feb-9 1-Feb-9 W-O-W Change % Dow Jones - 7,85.41 7,932.76 7,939.53 7,888.88-5.1% Nasdaq - 1,534.36 1,541.71 1,53.5 1,524.73-3.6% S&P 5-826.84 835.19 833.74 827.16-4.9% FTSEurofirst 3 785.3 796.5 791.69 83.37 85.94-5.4% DJ Euro Stoxx 5 2,193.64 2,228.29 2,214.95 2,267.9 2,268.15-6.6% FTSE 1 4,134.75 4,189.59 4,22.24 4,234.26 4,213.8-4.% FTSE All-Share UK 2,8.6 2,17.21 2,111.5 2,125.45 2,116.13-3.8% CAC4 2,962.22 2,997.86 2,964.34 3,27.72 3,2.75-5.5% Xetra Dax 4,366.64 4,413.39 4,47.56 4,53.9 4,55.54-6.4% Nikkei 7,75.17 7,779.4 7,75.36-7,945.94-2.7% Hang Seng 13,455.88 13,554.67 13,228.3 13,539.21 13,88.64-2.3% FTSE All World $ 135.39 136.48 136.23-138.2-1.9% / $ 1.28 1.29 1.28 1.29 1.3-2.1% / $ 1.42 1.44 1.43 1.44 1.47-4.5% / $.9.9.9.9.88 2.5% $ / 91.9 92. 9.7 9.3 91.2.2% / 13.9 132.7 129.2 129.6 133.9-4.2% $ INDEX 91.1 9.7 91. 9.5 89.7 1.7% / SFr 1.49 1.5 1.49 1.5 1.51-1.8% Oil Brent $ 37.23 37.51 33.98 35.94 37.55-5.9% Oil WTI $ 43.28 44.81 46.3 44.28 44.61-6.% Gold $ 942.9 936.95 944.1 942.3 912.7 5.% Company Maritime Stock Data Commodities & Financial Market 47 46 45 44 43 42 41 4 39 38 37 36 35 34 33 1-Feb Basic Commodities Weekly Summary 11-Feb Oil Brent $ Oil WTI $ Gold $ Stock Exchange Curr. 13-Feb-9 12-Feb-9 11-Feb-9 1-Feb-9 9-Feb-9 6-Feb-9 W-O-W Max 52wk Min 52wk Change % AEGEAN MARINE PETROL NYSE USD 17.97 19.87 19. 18.36 18.67 18.89-4.9% 44.17 7.93 ARIES MARITIME TRANSPORT NASDAQ USD.65.65.72.79.76.68-4.4% 7.3.32 CAPITAL PRODUCT PARTNERS L.P. NASDAQ USD 9.4 9.21 9.17 9.18 9.55 9.34-3.2% 21.83 5.7 DANAOS CORP NYSE USD 5.71 5.91 6.3 6.32 6.99 7.15-2.1% 29.96 3.18 DIANA SHIPPING NASDAQ USD 15.9 15.48 14.54 15.3 16.89 16.63-9.3% 68.78 7.24 DRYSHIPS INC(IPO) NASDAQ USD 4.76 5. 5.29 5.78 6.5 6.18-23.% 11.74 3.54 EUROSEAS LTD NASDAQ USD 4.62 4.72 4.78 4.98 5.48 5.52-16.3% 16.8 3.12 EXCEL MARITIME CARRIERS AMEX USD 7.2 7.49 7.73 7.48 8.74 8.9-11.% 57.72 3.61 FREESEAS INC NASDAQ USD 1.26 1.39 1.4 1.43 1.67 1.46-13.7% 7.97.9 GENCO SHIPPING NYSE USD 16.51 17.3 16.17 18.69 2.96 2.34-18.8% 84. 6.85 GENERAL MARITIME NYSE USD 1.76 11.14 11.32 11.74 11.97 11.41-5.7% 3.64 9.23 GLOBUS MARITIME LTD LONDON GBX 72. 72. 67. 78. 8. 74.3-3.1% 555. 42.89 HELLENIC CARRIERS LTD LONDON GBX 8. 74. 68. 74. 67. 67. 19.4% 25. 5. NAVIOS MARITIME CORP NYSE USD 3.84 4. 4.3 4.21 4.68 4.37-12.1% 14.67 1.21 OCEANAUT INC AMEX USD 8.3 8.5 8.6 8.6 8.6 8.1 -.9% 8.12 6.11 OCEANFREIGHT INC NASDAQ USD 2.1 2.5 2.12 2.34 2.93 2.88-27.1% 26.7 1.87 OMEGA NAVIGATION ENTERPRISES INC NASDAQ USD 6.87 6.85 7.57 7.6 7.7 7.44-7.7% 21.66 4.95 PARAGON SHIPPING INC NASDAQ USD 5.58 5.99 6.2 6. 6.11 6.1-8.5% 21.8 2.37 STEALTHGAS INC NASDAQ USD 5.89 5.9 5.91 5.84 6.21 6.25-5.8% 17.67 2.72 TOP SHIPS INC NASDAQ USD 1.7 1.68 1.69 1.71 1.84 1.71 -.6% 1.28 1.4 TSAKOS ENERGY NAVIGATION INC NYSE USD 18.55 18.72 18.66 18.81 19.95 19.42-4.5% 38.59 16.71 For any further queries please do not hesitate to contact our Research Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co. MDO 38cst 18cst 12-Feb 13-Feb 14-Feb 15-Feb 16-Feb Bunker Prices W-O-W 13-Feb-9 6-Feb-9 Change % Rotterdam 376. 39. -3.6% Houston 466.5 475. -1.8% Singapore 391. 394. -.8% Rotterdam 246.5 251. -1.8% Houston 277.5 284. -2.3% Singapore 274. 271.5.9% Rotterdam 269. 276.5-2.7% Houston 291. 31. -3.3% Singapore 284.5 285. -.2% 945 94 935 93 925 92 915 91 Intermodal Shipbrokers Co. 17th km Ethniki Odos Athens-Lamia & 3 Agrambelis Street, 145 64 N. Kifisia, Athens - Greece Tel: +3.21.62933 Fax: +3.21.6293333 www.intermodal.gr Compiled by: Intermodal Research Department Ms. Mariana Skiadopoulou E-mail: research@intermodal.gr On behalf of: Intermodal Sale & Purchase and Newbuilding Departments Mr. K. Dermatis, Mr D. Evdemon, Mr. C. Goudis, Mr. A. Poulopoulos, Mr. T. Ntalakos, Ms. N. Anomitri, Mr. G. Dermatis, Mr. T. Papadopoulos, Mr. P. Manesis E-mail: snp@intermodal.gr Intermodal Research 7 17/2/29