WEEKLY SHIPPING MARKET REPORT WEEK 26 Bulkers Noble have sold their Kamsarmax "Ocean Ambition" 82/214 Guangzhou Longxue to Greeks clients of Transmed at levels USD 23.4 mill. Same owners bought the 215 built sisterships for USD 23.8 mill and USD 24 mill. Daebo Shipping have sold their Panamax "Darwin" 73/22 Namura with SS 2/221, to Chinese buyers at levels USD 9.45 mill. Great asset placement as they bought the vessel back in 216 only for USD 4.9 mill. Note that the "Atlantic Hawk" 74/22 Oshima with SS 5/22, was sold also to Chinese buyers at similar levels USD 9.5 mill. Baltic Indices (Friday Closing Values) INDEX Week Change Week 25 26 (%) BDI 1385 144 1,35 BCI 217 238 6,48 BPI 1336 1382 3,33 BSI 142 194 4,75 BHSI 581 592 1,86 DryShips have sold one more of their Panamax "Marbella" 72/2 Sasebo with SS/DD 1/22, to Chinese Buyers for high USD 8 mill. Please note, the "Omiros" 73/21 Sumitomo with DD 6/218, was sold at levels USD 8.8 mill. Ahrenkiel Vogemann have sold the following Supramaxes:"AS Valdivia" 57/211, "AS Vincentia" 57/21, "AS Virginia" 57/29, "AS Valentia" 57/29, "AS Victoria" 57/29 Taizhou Kouan. Price region USD 55 mill enbloc to Chinese buyers clients of BoComm Leasing. The estimated breakdown could be for the 29 built USD 1.25 mill and the 212 built USD 12.75 mill. Previous week the "Bulk Progress" & "Bulk Power" 57/21 COSCO Zhoushan were sold for USD 11.5 mill. Celsius have sold their two sister Supramaxes "GH Secretariat" and "GH Phar Lap" 56/212 COSCO, to middle eastern clients of Eships, Dubai at USD 13 mill each. Please note that couple of months ago we saw the "Venus" 56/212 COSCO sold for USD 12.68 mill. Tanker INDEX Week 26 Week 25 Change (%) BDTI 724 742 2,43 BCTI 493 57 2,76 Empire Bulkers have sold their Supramax "Mastro Nikolas" 53/23 Iwagi with SS 1/222, to Chinese buyers for USD 9.4 mill. Note that previous week "Ocean Perfect" 53/23 Oshima with DD 5/218, was sold also to Chinese at USD 9.1 mill. Tankers In the newbuilding sector Clients of Thenamaris have placed an order for 1 x 174, cbm LNG carrier with XDF propulsion at Hyundai Heavy Industries with delivery in 22. Doun Kisen have sold their second Aframax "BM Bonanza" 16/27 Sumitomo with DD 7/218, to Greek buyers at region USD 17 mill. Note that her one year older sister "BM Breeze" 16/28 Sumitomo was sold for USD 18. mill. Asahi Tanker have sold their Mr2 Products Tanker "Axel" 5/21 Onomichi, probably to Greeks at levels USD 16.6 mill. Note, the "Nord Intelligence" 47/21 Iwagi was sold one month ago for USD 16.5 mill. Indicative Demolition Prices Country Tanker Prices Bulker Prices India 44 43 Bangladesh 435 425 Pakistan 42 41 28 26 Turkey 29 28 WEEKLY SHIPPING MARKET REPORT - pg. 1
DRY BULK COMMENTARY WEEK 26 (22 nd Jun to 29 th Jun 217) Capesize Rates on the West Australia / iron ore route fell in the high usd 6. s / low usd 7. s fio range during Week 26. Round trips on the same route have been primarily rating in the usd 13,/14, pd range. Rates for Brazilian iron ore into also feel in the high 18. s / low 19. s fio range. Transatlantic trips in the usd 18,/19, pd range. Usd 14,3 pd for 2 laden legs within the Pacific. Kamsarmax/Panamax North Pacific round trips have been rating in the usd 1,/11, pd range. Indonesian round trips with coal into have been rating primarily in the usd 1,/11, pd range. A number of Charterers though have been noticed to offer rates under usd 1, pd. Australian rounds at usd 12, pd levels. Chinese fertilizer trips into India have been rating in the usd 1,/11, pd range. Usd 1,5 pd for a Baltic run into the Mediterranean. Usd 19, pd for a Baltic fronthaul basis delivery in the United Kingdom. Usd 21, pd for a Black Sea fronthaul basis delivery at Canakkale. South American grain fronthauls continued rating in the usd 15,/16, pd range plus a usd 5/6,ish ballast bonus. Continent direction in the usd 18,/19, pd range. A Kamsarmax was reported for 2 laden legs within the Atlantic at usd 13,25 pd. No period activity to report here. Ultramax / Supramax Indonesian coal trips into and Southeast Asia continued in the usd 11,/12, pd range basis Southeast Asia delivery. Vietnamese clinker trips into Bangladesh in the low/mid usd 13, s pd range. Usd 11,9 pd for a Continental scrap trip into Turkey. Usd 7, pd for a reposition run ex Israel into the US Gulf on an Ultramax. Usd 1,85 pd for a Black Sea trip into East Africa on a Supramax. A Supramax was reported for a short period employment at usd 13, pd basis delivery in the Atlantic. Ultramax period employments have been rating in in the usd 13,/14, pd range. 14 12 1 8 6 4 2 25 2 15 1 5 14 12 1 8 6 4 2 Capesize Panamax 8/2/218 8/3/218 8/4/218 8/5/218 8/6/218 Supramax Handymax / Handysize A very quiet week for this segment, especially in the Mediterranean and the Black Sea basins where an increased number of spot vessels is being reported competing on very few cargoes. Rates seen in the usd 5,/6, pd range. No period activity to report here. 12 1 8 6 4 2 Handymax WEEKLY SHIPPING MARKET REPORT - pg. 2
REPORTED SALES Bulk Carriers Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments Kamsarmax Ocean Ambition 82, 214 Guangzhou, 9/219 B&W - $ 23.4 Greek (Transmed) Incl. T/C Back Panamax Darwin 73,87 22 Namura, Japan 2/221 B&W - $ 9.45 Chinese Panamax Marbella 72,561 2 Sasebo, Japan 1/22 B&W - High $ 8. PNR Supramax As Valdivia 57, 211 Taizhou, 3/221 B&W 4 x 3 T Supramax As Valentia 56,823 29 Supramax As Virginia 56,799 29 Supramax As Victoria 56,785 29 Taizhou, Taizhou, Taizhou, 11/219 B&W 4 x 3 T 8/219 B&W 4 x 3 T 7/219 B&W 4 x 3 T $ 55. Chinese (Bocom Financial Leasing Co) Supramax As Vincentia 56,78 21 Taizhou, 11/22 B&W 4 x 3 T Supramax Gh Secretariat 56,897 212 Supramax Gh Phar Lap 56,824 212 Cosco, Cosco, 3/222 B&W 4 x 3 T $ 13. 6/222 B&W 4 x 3 T $ 13. M.Easterns (E Ships) Supramax Mastro Nikolas 53,69 23 Iwagi, Japan 1/222 B&W 4 x 3 T $ 9.4 Chinese GC Green Cape 35,79 23 Jiangsu, 6/218 Sulzer 4 x 4 T High $ 5. Undisclosed WEEKLY SHIPPING MARKET REPORT - pg. 3
REPORTED SALES Bulk Carriers Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments GC Grey Fox 33,684 1998 Shnaghai, 7/218 Sulzer 4 x 35 T $ 4.3 Undisclosed GC San Marino Trader 33,217 21 Zhejiang, 2/22 B&W 4 x 6 T $ 11. Undisclosed GC Lisbon Trader 31,182 29 GC Fortitude 12,638 28 Zhejiang, Qingshan, 11/219 B&W 4 x 6 T $ 1.8 Undisclosed 11/218 MAK 2 x 18 T $ 7.3 Undisclosed Tankers Type Name Dwt YoB Yard SS M/E Price(mill) Buyer Comments Aframax Neverland Angel 115,928 29 Samsung, Korea 2/219 B&W Mr Isola Blu 5,695 28 SPP, Korea 7/218 B&W Mr Isola Corallo 5,67 28 SPP, Korea 1/218 B&W Undisclosed Swiss (Vitol) Aframax Bm Bonanza 15,614 27 Sumitomo, Japan 7/22 Sulzer $ 17. Greek Mr Axel 49,997 21 Onomichi, Japan 11/22 B&W $ 16.6 Greek Mr Nord Farer 4,83 25 Shina, Korea 5/22 B&W $ 11.5 W.Africans Mr Chemical LPG Nicos Tomasos London Trader British Courage 37,163 23 Hyundai Mipo, Korea 1/218 B&W $ 8.6 Undisclosed 13,97 27 Sekwang, Korea 7/222 B&W $ 8.1 Singaporean 54,533 26 Mitsubishi, Japan 8/221 B&W $ 38.5 Greek (Naftomar) WEEKLY SHIPPING MARKET REPORT - pg. 4
REPORTED SALES Containers Type Name Teu YoB Yard SS M/E Gear Price Buyer Comments Post Panamax Athenian 9,954 211 Samsung, Korea 4/221 Wartsil a - $ 52.5 Post Panamax Athos 9,954 211 Samsung, Korea Post Panamax Asklipios 9,954 211 Samsung, Korea 5/221 4/221 Wartsil a Wartsil a - $ 52.5 - $ 52.5 Greek (Navios) Incl. T/C Post Panamax Aristomenis 9,954 211 Samsung, Korea 3/221 Wartsil a - $ 52.5 Feeder Saturn 1,345 28 Jinagsu, 3/222 B&W 2 x 45 T $ 8. Undisclosed Feeder Maymyo Star 1,295 1995, Taiwan 5/22 B&W - $ 3. Malaysian (MTT Shipping) Feeder Cielo Di Casablanca 951 1998 Celiktene, Turkey 7/218 B&W 2 x 5 t $ 2.5 Undisclosed WEEKLY SHIPPING MARKET REPORT - pg. 5
DEMOLITION Type Vessel Dwt YoB Ldt Price $ Country Comments Tanker Guru Gobind Singh 147,498 1995 21,968 423 As is Colombo Tanker Al Jawzaa 4,999 1986 2,841 35 India WEEKLY SHIPPING MARKET REPORT - pg. 6
NEWBUILDING Bulkers Units Type Dwt Yard Delivery Price (mill) Owner Comments 1 Capesize 1, Imabari, Japan 221 Undisclosed 1 Capesize 98,5 Oshima, Japan 221 Undisclosed 4+4 Panamax 7, Chengxi, 22 $ 32,8 Japanese (K-Line) Japanese JV (Asashi & NYK Line) Singaporean (Nova Shipping) Against 15 yrs T/C to Kobe Steel, Tier III, Coal Carrier Wood-chip Carriers Tankers Units Type Dwt Yard Delivery Price (mill) Owner Comments 1 MR 4, Hyundai Mipo, Korea 219 Undisclosed 1 LNG 174, HHI,Korea 22 Undiclosed Algerian (Hyproc Shipping) Greece (Thenamaris) XDF Propulsion WEEKLY SHIPPING MARKET REPORT - pg. 7
INDICATIVE PRICES Bulk Carriers Size Prompt Resale 5 years 1 years 15 years Capesize 52 36 26 16.5 Panamax-Kamsarmax 31 24 16.5 1.5 Ultramax - Supramax 28.5 18 14.5 1 Handysize 24.5 15.5 11.8 6.5 Bulk Carriers 5 52 31 28,5 24,5 36 24 26 18 15.5 16.5 14.5 11,8 16,5 1,5 1 6.5 Prompt Resale 5 years 1 years 15 years Capesize Panamax Supramax Handysize Tankers Size Prompt Resale 5 years 1 years 15 years VLCC 87 64 4 25 Suezmax 58.5 43.5 27.5 14 Aframax 46 32 2 1.5 MR 36 26.8 17 9 Tankers 1 5 87 58.5 46 36 64 43.5 32 26.8 4 27.5 2 17 25 14 1.5 9 Prompt Resale 5 years 1 years 15 years VLCC Suezmax Aframax MR WEEKLY SHIPPING MARKET REPORT - pg. 8
KEY INDICATORS Currency Week 26 Week 25 Change (%) EUR / USD 1.1634 1.1637,3 USD / JPY 11.7 19.97,66 USD / KRW 1,114.67 1,17.53,64 NOK / USD.1228.1235,57 1.3 EUR / USD 1.25 1.2 1.15 1.1 1/1/218 1/2/218 1/3/218 1/4/218 1/5/218 1/6/218 Commodity Week 26 Week 25 Change (%) Brent Crude (BZ) 78.28 74.4 5,73 WTI Crude Oil (WTI) 73.28 66.43 1,31 Natural Gas (NG) 2.93 2.98 1,68 Gold (GC) 1,25.9 1,271.9 1,65 Copper 297.8 35.7 2,58 Wheat (w) 487.5 56. 3,66 9 8 7 6 5 4 3 2 1 Brent Crude 8 7 6 5 4 3 2 1 WTI Crude WEEKLY SHIPPING MARKET REPORT - pg. 9
SHIPPING INDICATIVE SHARE VALUE Stock Prices Shipping Companies Company Stock Exchange Week 26 Week 25 Change (%) Diana Shipping Ink (DSX) NASDAQ 4.86 4.81 1,4 Dry ships Ink (DRYS) NASDAQ 5.16 5.78 1,73 Euroseas Ltd (ESEA) NASDAQ 1.69 1.63 3,68 Eagle Bulk Shipping Inc (EGLE) NASDAQ 5.54 5.88 5,78 Navios Maritime (NM) NYSE.83.92 9,78 12,2Navios Maritime PTN (NMM) NYSE 1.9 1.93 1,55 Sta6,63r Bulk Carriers Corp (SBLK) NASDAQ 13. 13.89 6,41 Seanergy Maritime Holdings Corp (SHIP) NASDAQ.88.85 3,53 Safe Bulkers Inc (SB) NYSE 3.52 3.73 5,63 Golden Ocean (GOGL) NASDAQ 8.7 8.9 2,25 Stock Prices - Wet Company Stock Exchange Week 26 Week 25 Change (%) Capital Product Partners LP (CPLP) NASDAQ 3.5 3.7,65 TOP Ships Inc (TOPS) NASDAQ.97 1.8 1,19 Tsakos Energy Navigation (TNP) NYSE 3.73 3.71,54 Stock Prices - Other Company Stock Exchange Week 26 Week 25 Change (%) Aegean Maritime Petrol (ANW) NYSE.7.8 12,5 Danaos Corporation (DAC) NYSE 1.55 1.65 6,6 Stealth Gas Inc (GASS) NASDAQ 3.84 3.81,79 Rio Tinto (RIO) NYSE 55.52 54.72 1,46 Vale (VALE) NYSE 12.78 12.58 1,59 ADM Archer Daniels Midland (ADM) NYSE 46.19 46.,41 BHP Billiton (BHP) NYSE 5.2 47.88 4,47 WEEKLY SHIPPING MARKET REPORT - pg. 1
CONTACT DETAILS ADVANCED SHIPPING & TRADING S.A. Vouliagmenis Avenue 168, 1 st Floor, Glyfada 16674, Greece Tel: +3 21 3 3 E-mail: snp@advanced-ship.gr E-mail: chartering@advanced-ship.gr E-mail: finance@advanced-ship.gr Fax: +3 21 3 1 35 Sale & Purchase Department: Dry Cargo Chartering Department: Capt. Fountoglou Michalis Mob: +3 6947 7 7 18 Bonatsos Mavra Mob: +3 6951 24 36 Thermos Stavros Mob: +3 6944 24 2 2 Benetos Kostas Mob: +3 6943 29 32 13 Harrington James Mob: +44 7768 1 45 33 Tiliakos Michalis Mob: +3 6951 97 6 2 Papoutsis George Mob: +3 6951 51 65 Pittas Iordanis Mob: +3 6944 5 27 46 Balpakakis Manolis Mob: +3 6955 47 77 72 Haldezos Tasos Mob: +3 6944 2 88 13 Chrousalas Thanasis Mob: +3 6355 47 77 73 Manessis Sophia Mob: +3 6955 19 57 42 Landrakis Stelios Mob: +3 6955 47 77 74 Bilias Tasos Mob: +3 6955 47 77 71 Kontaratos Alkis Mob: +3 6948 78 5 52 Markoutsa Kanella Mob: +3 6978 41 72 9 Operations Department: Research Department: Katsouli Fotini Mob: +3 6955 47 77 75 Stergiou Kostas Mob: +3 6942 9 73 1 Chief Executive Consultant: Administration Department: Capt. Galonis Dimitrios Mob: +3 6945 55 36 81 Chronopoulou Fenia Mob: +3 6932 34 94 5 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 WEEKLY SHIPPING MARKET REPORT - pg. 11