May-6 Sep-6 Jan-7 May-7 Sep-7 Jan-8 May-8 Sep-8 Jan-9 May-9 Sep-9 Jan-1 May-1 Sep-1 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 12 1 8 6 4 2 17-19, Vas. Pavlou Str., GR 166 73, Voula, Athens, Greece Tel: 21 96597 - Fax: 21 89964 Internet Mail: athenian(at)atheniansa(dot)gr M O N T H L Y R E P O R T Baltic Dry Index May 216 PRICES TANKERS ($ MIO) * Prices reflect Year s End 21* 211* 212* 213* 214* 215* May-16 VLCC 5Y 87.8 55.6 56. 55.8 77.1 8 72 VLCC 1Y 64.3 34.1 35. 35. 52.1 55 52 SUEZMAX 5Y 62.8 45.6 4.2 39.5 56.8 6 52.6 AFRAMAX 5Y 44.5 34.7 28. 27.8 41.9 46 39 AFRAMAX1Y 3.7 19.3 16.3 16.3 26.8 31 26.6 PANAMAX5Y 39. 3.9 24.3 24.3 33.4 35 35.2 45K 5Y D/H 27.3 25.8 23. 23.3 23.8 28.9 26.7 45K 1Y D/H 19.7 15.8 15.5 15.7 15.2 19.6 19 45K 2Y 6.7 6. 6.2 6.2 6.5 8.5 7.5 PRICES BULKERS ($ MIO) * Prices reflect Year s End 21* 211* 212* 213* 214* 215* May-16 CAPESIZE 5Y 57. 36.3 32. 43.9 39.5 25 24.7 CAPESIZE 1Y 43. 26.8 2.5 31. 27.8 13.6 14 CAPESIZE 15Y 26. 15.2 12.7 18.2 16.3 8.5 8 CAPESIZE 2Y 16.4 1.5 9.3 1.1 9. 5.6 5.5 PANAMAX 5Y 38.5 26.4 18. 25.6 2.1 14 14 PANAMAX 1Y 31.6 18.6 12.5 17.9 14.6 8.5 8 PANAMAX 15Y 23.1 12.4 8.3 12. 1. 5 4.5 PANAMAX 2Y 13.8 8.1 5.4 7.5 5.4 3.6 3.2 SUPRAMAX 5Y 31.9 26.4 23.3 24.3 2.8 13.6 13
Prices (USD Mio) Price (USD) Price (USD Mio) Price (USD) 2 S E C O N D H A N D S A L E S & C H A R T E R F I X T U R E T R E N D S 1. Monthly Tanker Market Trend 7 Monthly 1 Yr TC Rates 9. 8. 6 7. 5 6. 5. 4 4. 3 3. 2 2. 1. 1. VLCC 5Y VLCC 1Y SMAX 5Y AMAX 5Y VLCC 1 Yr T/C SMAX 1 Yr T/C AMAX 1 Yr T/C AMAX 1Y PMAX 5Y 45K 5Y D/H 45K 1Y D/H PMAX 1 Yr T/C MR 1 Yr T/C 7. Monthly Bulk Carrier Market Trend 4 Monthly 1 Yr TC Rates 6. 35 5. 3 4. 3. 2. 1.. 25 2 15 1 5 CAPE 5Y CAPE 1Y CAPE 15Y PMAX 5Y PMAX 1Y PMAX 15Y SUPRA 5Y HMAX 1Y HMAX 15Y CAPE 1 Yr T/C SUPRA 1 Yr T/C PMAX 1 Yr T/C HMAX 1 Yr T/C
3 S E C O N D H A N D T O N N A G E M A R K E T S&P Activity Dry (>5, Dwt) AVAILABLE FOR SALE REPORTED SOLD PREVIOUS MONTH A/BLE FOR SALE PREVIOUS MONTH SALES S&P Activity Tankers (>5, Dwt) AVAILABLE FOR SALE REPORTED SOLD PREVIOUS MONTH A/BLE FOR SALE PREVIOUS MONTH SALES 3 2 2 1 251 53 22 6 15 1 5 139 32 149 24 THIS MONTH - PREVIOUS MONTH THIS MONTH - PREVIOUS MONTH *Excluding demolition sales Sale and Purchase Market Ship Type Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Total BULK 46 41 35 49 6 53 24 TANK 2 26 23 28 24 32 153 GAS 2 2 4 2 1 1 12 CONT 6 4 4 14 8 7 43 TWEEN/MPP 2 7 7 5 21 REEF RORO 2 2 FERRY CRUISE Total 78 73 73 1 98 86 58
4 Baltic Clean Tanker - Yearly 95 833 85 75 71 65 55 45 458 35 23 26 29 32 35 38 41 44 47 5 1 4 7 1 13 16 19 22 215 WEEK NO 216 11 1 9 8 7 6 5 4 215 152 Baltic Dirty Tanker - Yearly 61 146 23 26 29 32 35 38 41 44 47 5 1 4 7 1 13 16 19 22 WEEK NO 216 Baltic Clean Tanker - Monthly 54 534 52 5 5 48 46 469 3/5/216 1/5/216 17/5/216 24/5/216 31/5/216 Baltic Dirty Tanker - Monthly 75 74 735 73 72 71 715 716 7 3/5/216 1/5/216 17/5/216 24/5/216 31/5/216 TANKER SALES NAME DWT BLT PRICE $ BUYER SANKEI MARU 251 1995 JAPAN DB.76 MIO UNDISCLOSED BOW SAILOR 68 1999 POLAND DH 6.4 MIO UNDISCLOSED (SUS316L) DA WEI SHAN 6163 29 CHINA DH 12.2 MIO UNDISCLOSED GOLDEN DOMINANCE 12866 28 S.KOREA DH * ENBLOC BSS GOLDEN CREST 12898 28 S.KOREA DH 25.8 MIO KOREAN (Ttl Price) GOLDEN PACIFIC 1841 212 CHINA DH 12 MIO GREEK (Marineline- Laid up) FAIRCHEM BRONCO 19776 27 JAPAN DH 2.5 MIO TUFTON OCEANIC (STST - Incl 3 yrs TCB) SICHEM CONTESTER 19822 27 JAPAN DH 2.25 MIO UNDISCLOSED (STST) SIRA 2832 28 JAPAN DH 2.5 MIO TUFTON OCEANIC AEGEAN CHAMPION 234 1991 GERMANY DH 5.8 MIO MIDDLE EASTERN KING ERNEST 36997 24 S.KOREA DH 11.8 MIO ENBLOC BSS KING EVEREST 37229 21 S.KOREA DH 9.8 MIO ENBLOC BSS KING EDWARD 37384 24 S.KOREA DH 11.8 MIO ENBLOC BSS KING EMERALD 3885 24 CHINA DH 11.8 MIO UNDISCLOSED (Price Each) JADE 492 27 S.KOREA DH 21.5 MIO VIETNAMESE (Long Subjects) STAVANGER EAGLE 45898 24 JAPAN DH 16 MIO SHENLONG, CHINA (Against long TC) SIGNAL MAYA 46843 25 JAPAN DH 15.5 MIO UNDISCLOSED CPO KOREA 51747 29 S.KOREA DH * ENBLOC BSS CPO JAPAN 51747 21 S.KOREA DH 46 MIO UNDISCLOSED(Ttl price) ISIS 11693 27 JAPAN DH 29.8 MIO JAPANESE (Incl 3yrs BB Back) ARABIYAH 12119 1989 S.KOREA DH 8.5 MIO UNDISCLOSED
$/Day $/Day 5 POETIC 1513 23 JAPAN DH * ENBLOC BSS ROMANTIC 15247 24 JAPAN DH * ENBLOC BSS AUTHENTIC 15249 24 JAPAN DH * ENBLOC BSS MAJESTIC 15284 2 JAPAN DH 16 MIO NORDIC AMERICAN TANKERS (Ttl price) BERMUDA SPIRIT 158143 29 S.KOREA DH 47 MIO ENBLOC BSS HAMILTON SPIRIT 158769 29 S.KOREA DH 47 MIO GREEK (Price Each) DHT TARGET 164626 21 S.KOREA DH 22.5 MIO RIDGEBURY TANKERS NEW MEDAL 297556 29 CHINA DH * ENBLOC BSS NEW CORAL 29758 21 CHINA DH 117.5 MIO FRONTLINE (Ttl price) FRONT VANGUARD 358 1998 JAPAN DH 26 MIO UNDISCLOSED DS CHIEF 311224 1999 S.KOREA DH 25.25 MIO UNDISCLOSED GAS SALES NAME DWT BLT CBM PRICE $ BUYER G. ELITE 3714 1996 JAPAN 417 2 MIO THAI Spot Market - Tankers VLCC SUEZMAX AFRAMAX 11 1 9 8 7 6 5 4 3 2 1 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 3344 2535 2183 Period Market - Tankers 1 Year T/C VLCC SUEZMAX AFRAMAX 7 6 5 4 3 2 1 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 3925 2875 235
6 Baltic Handysize 37 365 36 35 347 34 342 2 33 3/5/216 1/5/216 17/5/216 24/5/216 31/5/216 595 585 575 565 555 545 Baltic Supramax 587 579 553 2 535 3/5/216 1/5/216 17/5/216 24/5/216 31/5/216 Baltic Panamax 66 64 62 617 6 58 581 4 582 56 54 3/5/216 1/5/216 17/5/216 24/5/216 31/5/216 Baltic Capesize 18 13 98 988 93 88 83 83 4 38 78 73 68 713 3/5/216 1/5/216 17/5/216 24/5/216 31/5/216 BULKER SALES NAME DWT BLT GEAR PRICE $ BUYER CONCORD EXPRESS 1613 1999 JAPAN CR 2X3, DR 2X3 1.7 MIO TAIWANESE ARKLOW WILLOW 13873 24 JAPAN GLESS 5.2 MIO CANADIAN (For conversion) MA CHO 1686 1997 CHINA CR 2X25 1.55 MIO UNDISCLOSED ROMUVA 17786 1998 INDONESIA CR 3X25 2.9 MIO UNDISCLOSED VORUTA 17789 1998 INDONESIA CR 3X25 2.9 MIO UNDISCLOSED KENANGA 27259 1996 S.KOREA CR 4X3 1.7 MIO UNDISCLOSED (Via auction in Durban where laid up for 6 months) APOLLONAS 27912 1996 JAPAN CR 4X3 2.55 MIO UNDISCLOSED. SEA RICHES 28287 21 JAPAN CR 4X3 3.5 MIO UNDISCLOSED SEA HARVEST 28294 2 JAPAN CR 4X3 3.65 MIO UNDISCLOSED DILIGENCE 28381 1995 JAPAN CR 4X3 2 MIO CHINESE SAINT DIONYSIS 31838 22 JAPAN CR 4X3 3.3 MIO EUROPEAN ORIENT DREAM 32162 28 JAPAN CR 4X3 7.5 MIO TAIWANESE CABOT AVIVA 32252 212 CHINA CR 4X3 6.2 MIO UNDISCLOSED (Via auction) BIANCO OLIVIA BULKER 325 213 CHINA CR 4X3 7.4 MIO UNDISCLOSED CS VANGUARD 34812 24 CHINA CR 4X3 3.5 MIO UNDISCLOSED HOLY LIGHT 42717 1997 JAPAN CR 4X3 2.5 MIO CHINESE VOC ROSE 47183 1998 JAPAN CR 4X3 2.5 MIO CHINESE ARMERIA 4814 23 JAPAN CR 4X3 4.2 MIO UNDISCLOSED LOYAL UNION 48549 27 JAPAN CR 4X3 6.3 MIO GREEK AURORA AMETHYST 48893 1999 JAPAN CR 4X3 2.8 MIO BANGLADESHI STEEL VISION 48913 21 JAPAN CR 4X3 3.5 MIO UNDISCLOSED
$/Day 7 NEER 5785 26 CHINA CR 4X4 3.6 MIO UNDISCLOSED MEDI NAGASAKI 5398 23 JAPAN CR 4X3 4.6 MIO GREEK ALAM MURNI 53553 23 JAPAN CR 4X3 4.65 MIO GREEK CHRISTOPH S 5677 211 CHINA CR 4X35 7 MIO GREEK FREDERIKE SELMER 56847 29 CHINA CR 4X3 5.8 MIO UNDISCLOSED ORIENTAL PHOENIX 57 212 CHINA CR 4X35 * ENBLOC BSS ORIENTAL EXPLORER 57 212 CHINA CR 4X35 14 MIO UNDISCLOSED (Ttl Price) OCEAN ANGEL 58679 28 PHILIPPINES CR 4x3 8.1 MIO UNDISCLOSED IKAN SIAKAP 58713 28 PHILIPPINES CR 4X3 8.1 MIO UNDISCLOSED ABY PAOLA 6935 215 JAPAN CR 4X3 19.4 MIO SINGAPOREAN DALIAN COSCO KHI DE3 61 216 CHINA CR 4X3 18.9 MIO UNDISCLOSED JIA YUE 638 216 CHINA CR 4X3 16.3 MIO BREAKWATER CAPITAL HERMES ISLAND 74867 212 JAPAN GLESS 13.6 MIO GREEK NORDWESER 75.321 21 S.KOREA GLESS 4.4 MIO GREEK OCEAN QINGDAO 75618 211 CHINA GLESS 11.5 MIO UNDISCLOSED ARCHIMEDES 81123 211 S.KOREA GLESS 14.6 MIO GREEK (Via Auction) MIRAERO ACE 8142 212 S.KOREA GLESS 14.2 MIO UNDISCLOSED (Incl TC til 6-7/217) SAFE VOYAGER 82514 27 JAPAN GLESS 9.2 MIO GREEK SRI PREM VEENA 82792 27 JAPAN GLESS 9.3 MIO WOOYANG SHIPPING KAIEN 882 24 JAPAN GLESS 6 MIO CHINESE SUIREI MARU 88736 1996 JAPAN GLESS 4.1 MIO UNDISCLOSED CHITRA PREM 932 21 CHINA GLESS 9.8 MIO GREEK (Via Auction) CONTI JADE 93253 212 CHINA GLESS 11 MIO UNDISCLOSED (Sold by financiers) CONTI JAPSIS 93266 212 CHINA GLESS 11 MIO UNDISCLOSED (Sold by financiers) ETERNAL POWER 9745 24 JAPAN GLESS 6.3 MIO UNDISCLOSED SA ALTIUS 17148 21 S.KOREA GLESS 7.75 MIO CHINESE AN MAY 174674 25 CHINA GLESS 12 MIO UNDISCLOSED (C/free dely 11-12/216) KLARA SELMER 175247 212 CHINA GLESS 19.5 MIO GREEK BESIKTAS TURKMENISTAN 179797 211 S.KOREA GLESS 23.75 MIO ENBLOC BSS BESIKTAS 179843 211 S.KOREA GLESS 23.75 MIO GREEK (Price Each) SHINING DRAGON 181365 212 JAPAN GLESS 26 MIO UNDISCLOSED GALAXY DREAM 181371 213 JAPAN GLESS 27.4 MIO WINNING SHIPPING 18 16 14 12 1 8 6 4 2 Spot Market - Bulkers May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 638 615 55 CAPESIZE PANAMAX HANDYMAX
$/Day 8 131 121 111 11 91 81 71 61 51 41 Period Market - Bulkers 1 Year T/C May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 4 75 567 575 CAPE PMAX HANDYMAX CONTAINER SALES NAME DWT BLT GEAR TEU PRICE $ BUYER WEC MAJORELLE 7223 1996 GERMANY GLESS 7 1.7 MIO UNDISCLOSED ALICE 12827 25 S.KOREA GLESS 143 8 MIO SITC HONG KONG STADT ROTENBURG 12864 23 UKRAINE CR 2X45 112 3.5 MIO GERMAN ISOLDE 3426 2 GERMANY CR 3X45 2.452 3 MIO MIDDLE EASTERN E.R. CUXHAVEN 35414 22 ROMANIA CR 3X45 249 3.8 MIO ENBLOC BSS E.R. HELGOLAND 35611 22 GERMANY CR 3X45 2496 3.8 MIO GREEK (Price Each) STADT AACHEN 44145 27 S.KOREA GLESS 3398 7.1 MIO CHINESE MPP/TWEEN SALES NAME DWT BLT GEAR TEU PRICE $ BUYER ARKLOW ROSE 55 22 NETHERLANDS GLESS 138 2.7 MIO UNDISCLOSED NIUGINI COAST 5273 1996 ROMANIA CR 2X36 373 * ENBLOC BSS NIU AILAN COAST 5273 1996 ROMANIA CR 2X36 375 2 MIO OCEANIC CONTAINER (Ttl Price) TRANSANDROMEDA 6663 1999 NETHERLANDS GLESS 39 5.7 MIO ENBLOC BSS TRANCAPRICORN 6663 2 NETHERLANDS GLESS 39 5.7 MIO COMBO SALES NAME DWT BLT GEAR PRICE $ BUYER SKS TYNE 19891 1996 S.KOREA CR 1X15 7 MIO KARADENIZ LATVIAN (Price Each. Ice Super 1A)
$m $m 9 N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C TS Tanker Prices VLCC Suezmax Aframax MR Bulker Prices Capesize Panamax Handymax Handysize 12 1 8 6 4 2 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 9 6 5 33.7 7 6 5 4 3 2 1 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 44 25 23 2 Ship Type 216 217 218+ Total Capesize 11 39 74 223 Panamax 175 77 24 276 Supra/Hmax 329 151 21 51 Handies 177 1 53 33 Total 791 367 172 133 Ship Type 216 217 218+ Total ULCC/VLCC 5 46 27 123 Suezmax 38 65 12 115 Aframax 53 7 39 162 Panamax 29 3 1 69 MR+Small 191 156 68 415 Total 361 367 156 884 Ship Type 216 217 218+ Total VLGC 26 29 16 71 LGC 2 2 MR 19 44 4 67 Handy 9 18 2 29 Small 3 1 1 5 Total 59 92 23 174
m. dwt m. dwt No. of Vessels m. dwt 1 Newbuilding Sales 7 66 Tankers >1, dwt Bulkers >1, dwt Containerships Delivery Schedule 7 66.4 Bulkers >1, dwt. Tankers >1, dwt 6 6 5 4 3 2 1 398 235 28 142 128 33 34 6 214 215 May-16 5 4 3 2 1 38.8 35.8 28.1 22.3 17.8 May-16 217 218+ Tanker Newbuildings on Order 4 38 35 3 25 2 18.1 18.3 15 1 5 May 216 5 VLCC Aframax Products 14.7 Suezmax Panamax Bulker Newbuildings on Order Capesize Panamax Handymax Handysize 6 51.9 5 4 3.5 3 22.7 2 11.9 1 May 216 Tankers May- 16 Newbuilding Historical Prices ($m) 215 214 213 212 211 21 29 28 25 2 1995 199 1985 31, DWT 1 9 93.7 97.3 93.8 93.2 98.9 14.8 97.5 15 12 76.5 85.3 87.4 17, DWT 1 6 63 65.5 59.6 57.1 6.3 66.3 61 9 71.5 52.5 54 66.1 11, DWT 1 5 52 53.6 52.2 48.5 52.2 56 49.5 74 58 41.5 43.3 53.2 47, DWT 1 33.7 35.4 36.8 34.6 33.8 35.2 36.1 35 46.5 43 29.5 33.2 Bulkers 18, DWT 1 44 46 54.2 53.6 45.7 48.4 57.2 55.5 87 58.5 4.5 42.3 6.2 29.3 73, DWT 1 25 25.7 29 27.8 25.6 28.7 34.3 34.5 45.5 36 22.5 27.9 3 13.4 45, DWT 23 24.1 27.2 26.5 23.7 26.7 31.1 29 41 31 2.5 24.1 25.3 12.4 29, DWT 2 2.3 22.8 22.2 2.5 22.2 26.3 24.5 31 25.5 15 19.2 21.3 9.7 1 Before 21 sizes to read 28, - 14, - 95, - 4, respectively for tankers and 15, - 69, for Bulkers 2 Single Hull 3 3, DWT (note: above is for vessels built Japan / Korea, you should also consider US$ / Yen / Won relation for the years mentioned) 3 32.1 2 38.2 2 28.2 2 18.1 3 13.3
11 The Shipbuilding Market TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES Accom. Unit 42 Ast. Gondan 218 Ostensjo Rederi AS Chem & Oil 186 Chengxi Shipyard 218 28. Mio Ektank AB Chem & Oil 186 Chengxi Shipyard 218 28. Mio Ektank AB Chem & Oil 186 Chengxi Shipyard 218 28. Mio Ektank AB Option Chem & Oil 186 Chengxi Shipyard 218 28. Mio Ektank AB Option Chem & Oil 4 Hyundai Mipo 217 Super-Eco Tankers Chem & Oil 4 Hyundai Mipo 218 Super-Eco Tankers Container 12 Kyokuyo Shipyard 217 Kotoku Kaiun Container 12 Kyokuyo Shipyard 218 Kotoku Kaiun Container 35 Shanghai Shipyard 217 Zhonggu Shipping Container 35 Shanghai Shipyard 218 Zhonggu Shipping Container 35 Shanghai Shipyard 218 Zhonggu Shipping Container 35 Shanghai Shipyard 218 Zhonggu Shipping Container 35 Shanghai Shipyard 218 Zhonggu Shipping Option Container 35 Shanghai Shipyard 218 Zhonggu Shipping Option Cruise Lloyd Werft Wismar 219 Genting Hong Kong Cruise Lloyd Werft Wismar 22 Genting Hong Kong Cruise Lloyd Werft 218 Crystal Cruises Hvy Dk Cargo 15 VARD Braila 217 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Braila 217 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Braila 217 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Braila 218 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Braila 218 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Tulcea 217 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Tulcea 217 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Tulcea 218 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Tulcea 218 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Vung Tau 217 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Vung Tau 217 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Vung Tau 218 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Vung Tau 218 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Vung Tau 218 2. Mio Topaz Energy Hvy Dk Cargo 15 VARD Vung Tau 218 2. Mio Topaz Energy L.P.G 51 MHI Nagasaki 22 Nissen Kaiun K.K. L.P.G 51 MHI Nagasaki 22 Nissen Kaiun K.K. L.P.G 55 JMU Tsu Shipyard 219 Nippon Yusen Kaisha L.P.G 55 JMU Tsu Shipyard 219 Nippon Yusen Kaisha Pass/Cat Ast. Gondan 217 Naviera Nabia Research 51 Damen Gorinchem 22 396 Mio Antarctic Division Ro-Ro 15 Flesburger SB 217 Siem Industries Ro-Ro 15 Flesburger SB 217 Siem Industries Ro-Ro 15 Flesburger SB 217 Siem Industries Ro-Ro 15 Flesburger SB 218 Siem Industries
Million dwt USD/ton USD/ton 12 Demolition Historical Data D E M O L I T I O N M A R K E T Demolition Prices Gen Cargo Tanker India USD 26 /lt Ldt USD 28 /lt Ldt Bangladesh USD 265 /lt Ldt USD 29 /lt Ldt Pakistan USD 255 /lt Ldt USD 28 /lt Ldt China USD 15 /lt Ldt USD 16 /lt Ldt 58 53 48 43 38 33 28 23 18 58 53 48 43 38 33 28 23 18 6 5 4 3 2 1 28 25 28 295 Price Tankers* 28 213 214 215 216 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC *India month's end prices 26 225 26 275 Price Bulkers* 26 213 214 215 216 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC *India month's end prices 38 25.6 14.5 4.9 2.35 4.6 3.8 15.9 16.7 18.9 15.5 18 15.6 Total Demolition (Dwt) 3.5 28.428.5 25 27 22.4 1 5.5 6.5 5 12 28.9 25.7 31.58 5.3 41.8 38.8 34.3 25.8 * Bss reported sales
USD/ton 13 6 Historical Demolition Prices (India Year's End) 5 4 3 2 TANKERS BULKERS Avg. Trend 1 HISTORICAL DEMOLITION PRICES (*Indian Year s End) 1998 1999 2 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 CURR. TANK 115 136 174 135 174 262 362 32 45 57 287 338 485 482 45 435 425 3 28 BULK 112 143 17 135 181 267 381 332 392 472 268 328 437 456 375 41 4 285 26 India TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK SPAR NEPTUN 711 1994 923 29 CONT SHIN CHUN 14263 1987 4584 25 As is Hong Kong with min ROB CONT MSC LIESELOTTE 2137 1983 1655 37 CONT SIRIUS 2549 1998 9355 27 As is Malta incl ROB for voy CONT KARIN 25648 1999 954 293 Bss as is Colombo CONT TAURUS 2926 1998 1427 28 CONT NORASIA VALPARAISO 58341 22 21382 232 As is Singapore incl ROB for voy GAS MARIMAR GAS 1827 1981 8215 338 RORO HUDSON LEADER 1414 1987 13261 294 PCC RORO SAINT ROCH 24282 198 15515 24 TANK BAO HENG 3662 1988 1143 295 Incl 6T ROB TANK STOLT TOPAZ 38818 1986 27 Bangladesh As is Khor Fakkan with sufficient ROB for voy TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK U HAPPY 4396 1996 8875 276 BULK HUA XIANG 26695 1986 545 265 BULK OCEAN HOPE 29513 1996 779 3 BULK C. POLARIS 1593 1995 1852 32 BULK IRON BARON 169981 1999 25 32 BULK CARINA 7349 1997 1783 275 As is Singapore BULK ANANGEL ETERNITY 171176 1999 21211 3 As is Singapore incl sufficient bunkers for voy BULK NEW FANTASY 45531 1996 8852 34 En bloc with New Giant BULK SUCHADA NAREE 23732 1994 5 25 BULK HUA TAI 2672 1984 9255 285 Converted from tanker BULK RUI FU 25759 1985 6439 265 TWEEN XIANG RUI MEN 2377 1989 8193 29 CONT JAPAN 67958 1996 295
14 China TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK SHIN ONDO 151833 1996 198 22 BULK ONGA 229228 21 2664 22 Pakistan TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK GOLDEN TRUST 1797 1996 21937 316 BULK ARWAD TOWER 28269 1985 6135 29 BULK GS ANGEL 122259 1995 16477 32 Incl ROB BULK BADRI PRASAD 151418 199 17618 314 TANK ALBA 45931 1987 8978 3 TANK ADVENTURE 4135 199 7931 37 TANK FAISAL 95793 199 1411 318 Turkey TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS N/A N/A N/A Other TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK CHINA STEEL EXPRESS 154556 1997 22746 286 As is Kaohsiung incl 35T ROB CONT ACAPULCO 14148 1996 5652 29 As is Colombo CONT GLORY 33 1996 1485 3 As is Hong Kong CONT NORASIA ALPS 34954 1997 11355 31 As is Singapore CONT MUNDRA 63533 1997 18963 32 As is Singapore CONT HANJIN OTTAWA 68834 2 24215 318 As is Singapore CONT DS DOMINION 855 21 2721 31 As is Busan
USD/ton USD/ton 15 8 7 6 5 4 3 2 1 H I S T O R I C A L B U N K E R P R I C E S Bunkers Cost (38 cst) Rotterdam Fujeirah Houston Average Trend 12 1 8 6 4 2 Bunkers Cost (MGO) Rotterdam Fujeirah Houston Average Trend HISTORICAL BUNKER PRICES Rotterdam Fujeirah Houston 38 cst MGO 38 cst MGO 38 cst MGO 1992 83 161.9 81.5 28.2 78.4 165.2 1993 67 15.5 7 22.5 71.1 16.6 1994 86 133.2 8.9 182.6 8.8 148.8 1995 97 14.6 94.6 175.8 93.2 148 1996 17 175.1 14.4 27.5 15.8 186 1997 92 155.4 99.3 25.6 97.3 179.9 1998 66.5 112.2 69.2 152.2 67.2 136.9 1999 94 133 98.5 157.2 93.3 143.9 2 139 231.6 155.3 263.5 136 255.7 21 116 192.4 129.7 244.7 112.8 227.5 22 135 188.2 145.9 222.8 134 196 23 151 23.4 166.3 265.2 16.2 265.1 24 154 313.4 176.7 359.3 167.3 328.7 25 236 458.4 256.6 5.1 248.3 58.5 26 195 524.1 31.9 631.8 33 562.3 27 347 571.3 373.7 664.7 351.8 68.6 28 469 85.7 59.4 137.7 496.8 933.2 29 355 49.6 372.8 657 36.7 525 21 452 667.1 468.2 712.9 449.3 683 211 548 848.6 587.5 897.5 542.1 862.4 212 585 92 66 15 61 15 213 585 92 62 11 58 985 214 31 57 35 88 315 695 215 14 311 17 56 14 36 May-16 22 432 24 472 21 46
$/Barrel USD-EUR USD-JPY 16 M A R K E T I N D I C A T O R S 1.8 1.6 1.4 1.2 1..8.6.4 Currencies USD-EUR USD-JPY 13 12 11 1 9 8 7 6 16. 14. 12. 1. 8. 6. 4. 2.. Brent Oil GBP CAD EUR JPY CHF USD AUD GBP 1.5241.7626.617.68992.68445.49479 CAD 1.977 1 1.45497.1177 1.31631 1.3594.9446 EUR 1.3199.6878 1.89.9463.89745.6488 JPY 162.14 84.97 123.66 1 111.87 11.99 8.24 CHF 1.4495.75941 1.1519.894 1.99192.7176 USD 1.4679.76559 1.11412.91 1.794 1.7229 AUD 2.229 1.5882 1.5495.1246 1.394 1.3831 1 * 1/6/216 values
17 S T O C K W A T C H NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW Capital Product Partners CPLP 2.94 2.69 9.3 9.23 2.41 Diana Shipping Inc. DSX 2.61 3.13-16.6 8.27 1.95 Dryships Inc. DRYS 2.19 2.88-24 19.2 1.8 Dynagas LNG Partners LP DLNG 14.29 15.47-7.6 19.7 6.7 Eagle Bulk Shipping Inc. EGLE.56.67-17 9.57.3 Euroseas Ltd. ESEA 2.6 2.33-11.6 7.8 1.4 Freeseas Inc. FREEF.12.74-83.8 17.4.8 Costamare Inc. CMRE 9.84 9.82.2 2.43 6.1 Goldenport Holdings Inc. GPRT. 1.7-1 144.75.5 Navios Maritime Holdings NM 1.11 1.3-14.6 4.51.57 GasLog Ltd. GLOG 12.45 13.6-4.7 21.12 5.24 Paragon Shipping Inc. PRGN.75.26 194.1 45.6.2 Safe Bulkers Inc. SB 1.14 1.37-16.8 4.13.3 Star Bulk Carriers Corp. SBLK.8.96-16.9 3.42.31 Stealthgas Inc. GASS 4.69 4.4 16.1 7.1 2.39 TEN Inc. TNP 6.47 6.48 -.2 1.5 4.79 TOP Ships Inc. TOPS 2.33 2.57-9.3 13. 1.3 Box Ships Inc. TEUFF.1.6-82.5 1.7.1 Diana Containerships Inc. DCIX.68.83-17.7 2.64.31 Danaos Corporation DAC 3.5 4.9-14.4 6.7 3.7 Aegean Marine Petroleum ANW 6.66 8. -16.8 15.25 5.52 * 31/5/216 closing values ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Disclaimer: Information and data that appear in this report have been obtained from various sources which are believed to be correct and reliable. However, Athenian Shipbrokers S.A. does not guarantee their accuracy or completeness and therefore cannot be held liable for any loss incurred as a result of reliance in any way whatsoever on the information contained herein. Kind Regards,