Weekly Market Report

Week 22 Tuesday 2nd June 29 Weekly Market Report Sale & Purchase Newbuilding Secondhand Demolition Chartering World Economy News The euro weakened from an 8 month high against the yen, commodities dropped and emerging market shares fell for the first time in a week before signals from central bankers on the direction of the global economy. The euro slid.3% to 136.33 yen as of 11:2 a.m. in London. The MSCI World Index of stocks was little changed, paring an earlier decline of.3% after its biggest advance in 4 weeks yesterday. The MSCI Emerging Markets Index dropped.8%, the steepest retreat in five days. Oil and copper fell for the first time in seven days. Treasuries rose after 1-year yields rose the most in 8 months yesterday. We re not getting carried away with the recovery story, said Sean Maloney, a fixed-income strategist at Nomura International Plc in London. The real data are still lagging and we are seeing an economy that s still bad. (Bloomberg) Energy & Commodities Rio Tinto s South Korean and Chinese Taipei iron ore customers have accepted the same 29 prices agreed last week with Japan s Nippon Steel, but Chinese mills want even greater reductions. Rio announced today that Hamersley Iron has settled its contracts with POSCO, CSC and Dragon at $.97 per dry tone unit for Pilbara Blend Fines and Yandicoogina and $1.12 per dmtu for Pilbara Blend Lump. Division chief Sam Hunt said: Each year the pricing negotiations are tough and this year is no exception, although the situation is becoming clearer as more customers settle to the same terms. We continue to negotiate with our remaining customers, the bulk of whom are in China, he added. We believe the settlements achieved to date demonstrate that customers appreciate the certainty of price and volume that the benchmark system ensures. But the company revealed that about half of the ore produced this calendar year has been sold on the spot market. Earlier, the China Iron & Steel Association explicitly rejected the new prices, which represent cuts of 33-44%. Such a price cut does not truly reflect changes in the international iron ore market this year, it said. It will lead to losses in the entire Chinese steel industry. Therefore, Chinese steel enterprises cannot accept this price and will not follow suit. (Fairplay) Shipping News Another week of cheers for dry bulk ship owners, as the sector s leading market index, the BDI managed to keep its positive momentum and gain an additional 25%, reaching almost 3,5 points, the highest point since the previous September, just before the financial crisis stepped in to change everything. The BDI has edged upwards for almost 2 consecutive sessions. Last week s stars of the rise were the capesize vessels, which have practically taken off. The Baltic Exchange reports that the capesize market is "red-hot for now with no end in sight as more cargoes pile into the market and tonnage is 'incredibly tight' in the Atlantic." A 17,-tonne 1997-built vessel open mid June on the Continent fixed for a trip via Brazil to South Korea at $9, daily - and a $, daily does not seem far off, it says. These are much needed news for dry bulk ship owners, which have been plagued by very low rates for a series of months. The capesize rates alone had fallen as much as less than $1, in early December, when global trade had been brought to a virtual halt. During the previous week, the BCI gained more than 4% week on week, to reach 6,125 points, while the Panamax Index added over 26%. The daily fixture/index for 2 nd June 29 is BDI at 4,16 points (+425 points up from 1 st June 29), BCI 7,724 (+1,175), BPI 3,33 (+237), BSI 1,843 (+8) and BHSI 876 (+6). (Hellenic Shipping News) Chartering (Wet: Stable / Dry: Stronger) For the past week, on the Dry market, the BDI was on Friday (29/5/29) 3,681, +895 points up from end of previous week s levels. On the Wet market, the BDTI on Friday (29/5/29) was 482, +2 points up and the BCTI at 481, -4 points down from end of previous week s levels. Sale & Purchase (Wet: Stable- / Dry: Stronger) The tanker S&P market has some interesting deals to show for the past week: the SH VLCC Hydra Star (35,846dwt-built 1994) was sold e/b with Carina Star (35,668dwt-built 1994) to Far Easterns for 19.5 $ each, the DH VLCC Camden (298,36dwt-built 1995) was bought by Venezuelans for 52$m and GNMTC has acquired e/b 2 very modern DH MR tankers, the Ocean Command (46,dwt-built 29) and the Ocean Compass (46,dwt-built 29) for 37.5$m net each. The dry S&P market continues to be very active, with several deals concluded for another week: the capesize Mineral Azalea (171,199dwt-built 1999) was bought by TMT for the very firm price of 46.35$m, HMM acquired a post panamax newbuilding resale of 91,8dwt with delivery 11/29 from Sungdong for 4.5$m, the kamsarmax Trafalgar (76,397dwt-built 21) was bought by Chinese for 28$m, the panamax Lansing (73,4dwt-built 1996) fetched 21.5$m, the handymax Moorgate (45,875dwt-built 199) was acquired by Indonesians for 11.3$m and the handysize Ivs Kenso (32,642dwt-built 25) was acquired by Greeks for 22.2$m. Newbuilding (Wet: Weaker / Dry: Weaker) The Newbuilding market has no activity to show for another week. Demolition (Wet: Stable / Dry: Stable) The demolition markets continue to be very active, with several deals concluded for another week. Bangladeshi breakers have acquired the handysize bulker Boe West (34,618dwt-7,995ldt-built 1982) for 235 $/ldt, and the small tanker Kemeri (17,61dwt-5,522ldt-built 1985) for 285$/ldt. Indian ship recyclers have acquired the container Ym Prominence (3,266teu-16,824ldt-built 1987) for 245$/ldt, the roros Golden Ray II (16,178dwt-13,121ldt-built 1985) for 235$/ldt and Astro Coach (13,95dwt-12,543ldt-built 198) for 2$/ldt, asis Durban, the container Sima Tina (1,152teu-7,32ldt-built 1982) for 255 $/ldt and the handysize bulker Antigoni B (26,732dwt-6,844ldt-built 1977) for 25$/ldt. Moreover, Pakistani breakers have acquired the panamax bulker Vitafos (61,973dwt-11,246ldt-built 1981) for 2$/ ldt, and Chinese ship recyclers have bought the handysize bulker Jin Hong Hai (29,324dwt-7,444ldt-built 1976) for 227$/ldt. Intermodal Research 1 2/6/29

Wet Market $m VLCC Suez max Aframax Clean Dirty Vessel VLCC Suez max Aframax Panamax MR Handy size 18 1 14 12 8 4 2 1-Jan-8 1-Feb-8 Routes WS points Week 22 Spot Rates WS points Week 21 1q29 1q28 265k AG-JAPAN 3 13,98 3 14,253 % 49,66 14,17 28k AG-USG 23 7,565 23 8,35 % 39,143 74,14 2k WAF-USG 33 2,39 35 23,973-7% 62,221 81,759 13k MED-MED 5 11,82 21,9-17% 45,431 67,935 13k WAF-USAC 45 11,165 48 12,912-5% 4,935 49,138 13k AG-CHINA 55 18,636 55 18,982 % 32,398 45,13 8k AG-EAST 8,618 8,988 % 22,427 27,78 8k MED-MED 63 8,818 63 9,371 % 24,336 43,13 8k UKC-UKC 65 2,162 65 1,736 % 28,51 45,839 7k CARIBS-USG 65 6,58 7 8,692-7% 25,8 25,584 75k AG-JAPAN 65 8,668 58 5,655 13% 22,52 23,39 55k AG-JAPAN 8 9,164 68 5,294 19% 2,212 22,433 37K UKC-USAC 123 12,72 125 12,988-2% 14,314 22,842 3K MED-MED 12 11,748 135 16,1-11% 14,416 23,935 55K UKC-USG 95 15,658 85 11,995 12% 24,232 31,433 55K MED-USG 95 14,49 85 11,122 12% 22,675 29,5 5k CARIBS-USAC 12 19,557 11 16,64 9% 19,393 22,287 TC Rates ±% Week 22 Week 21 ±% 29 28 27 3k 1yr TC 35,25 36,25-2.8% 47,932 73,798 55,798 3k 3yr TC 37,2 37,2.% 42,7 58,844 48,585 15k 1yr TC 3,25 31,25-3.2% 36,75 47,442 44,72 15k 3yr TC 28,2 29,7-5.1% 33,882 41,123 38,777 15k 1yr TC 18,25 18,75-2.7% 23,477 36,43 33,394 15k 3yr TC 19,2 19,2.% 23,37 3,7 29,83 7k 1yr TC 19,25 19,25.% 22,932 29,471 29,567 7k 3yr TC 2,2 21,2-4.7% 22,9 26,686 27,113 45k 1yr TC 16,75 16,75.% 18,159 23,731 26,154 45k 3yr TC 17,2 17,2.% 18,12 22,527 23,488 36k 1yr TC 15,25 15,25.% 17,45 22,22 23,519 36k 3yr TC 15,2 15,2.% 16,7 2,585 21,517 Tankers SH Values (5yrs) VLCC Suezmax Aframax Panamax MR 1-Mar-8 1-Apr-8 1-May-8 1-Jun-8 1-Jul-8 1-Aug-8 1-Sep-8 1-Oct-8 1-Nov-8 1-Dec-8 1-Jan-9 1-Feb-9 1-Mar-9 1-Apr-9 1-May-9 1-Jun-9 1-Jul-9 WS points WS points 4 35 3 25 2 15 5 4 35 3 25 2 15 5, 9, 8, 7,, 5, 4, 3, 2, 1, 8, 7,, 5, 4, 3, 2, 1, TD3 TD8 TD5 TD4 TC2 TC4 TC6 TC1 DIRTY - WS RATES CLEAN - WS RATES Tankers 1YR TC RATES VLCC Suezmax Aframax Panamax MR 2-Jan-7 2-Mar-7 2-May-7 2-Jul-7 2-Sep-7 2-Nov-7 2-Jan-8 2-Mar-8 2-May-8 2-Jul-8 2-Sep-8 2-Nov-8 2-Jan-9 2-Mar-9 2-May-9 2-Jul-9 2-Jan-7 2-Mar-7 2-May-7 2-Jul-7 2-Sep-7 2-Nov-7 2-Jan-8 2-Mar-8 2-May-8 2-Jul-8 2-Sep-8 2-Nov-8 2-Jan-9 2-Mar-9 2-May-9 2-Jul-9 5-Jan-7 5-Mar-7 5-May-7 5-Jul-7 5-Sep-7 5-Nov-7 5-Jan-8 5-Mar-8 5-May-8 5-Jul-8 5-Sep-8 5-Nov-8 5-Jan-9 5-Mar-9 5-May-9 5-Jul-9 5-Jan-7 5-Mar-7 5-May-7 5-Jul-7 5-Sep-7 5-Nov-7 5-Jan-8 5-Mar-8 5-May-8 5-Jul-8 5-Sep-8 5-Nov-8 5-Jan-9 5-Mar-9 5-May-9 5-Jul-9 Tankers 3YR TC RATES VLCC Suezmax Aframax Panamax MR The Tankers Sale and Purchase market showed great levels of activity for the past week, especially compared to the previous weeks. This week the amount of activity in the single hull sector has risen substantially. The SH VLCC Hydra Star (35,846dwt-built 1994) was sold e/b with Carina Star (35,668dwt-built 1994) to Far Easterns for 19.5$ each. Also, the SH VLCC El Junior (2,87dwt-built 1995) was acquired by Chinese for 17.5m$. By way of comparison, in February the similar SH VLCC Grand Pacific (263,97dwt-built 1994) was sold for 15m$. The DH VLCC Camden (298,36dwt-built 1995) was bought by Venezuelans for 52$m. GNMTC has acquired e/b 2 very modern DH MR tankers, the Ocean Command (46,dwt-built 29) and the Ocean Compass (46,dwt-built 29) for 37.5$m net each. In the small tankers sector, the DB IMO II/III Princess Pacific (9,195dwt-built 1985) was sold to Middle Easterns for 2.5$m. Also, Adriatic Chemical have purchased e/b two DH IMO II/III small tankers, the Vedrey Ydrehall (3,5dwt-built 26) and Brovig Mistra (3,5dwt-built 24) for 25.5$m total, including 6 years BB to Croatians at 6,, with charterers also holding 5% equity stake. Intermodal Research 2 2/6/29

Dry Market $m BDI 3,681 2,786 32% 2,32 6,663 7,321 BCI 6,549 73,222 4,343 45,15 51% 1,624 9,577 1,172 BPI 3,93 24,851 2,293 18,429 35% 79 6,342 7,283 BSI 1,835 19,288 1,837 19,31 % 661 4,225 4,788 BHSI 87 12,567 869 12,489 % 529 2,257 2,469 Handysize Handymax Supramax Panamax Capesize 18 1 14 12 8 4 2 1-Jan-8 1-Feb-8 Baltic Indices Week 22 Week 21 29/5/29 22/5/29 ±% 29 28 27 Index Index Index Index Index Week 22 Period Week 21 ±% 29 28 27 17K 6mnt TC 62,75 4,25 56% 25,289 117,43 118,6 17K 1yr TC 47,7 29,45 62% 25,384 111,729 17,118 17K 3yr TC 3,25 26,75 13% 23,895 82,429 76,58 7K 6mnt TC 23,7 19,45 22% 14,246 57,623 58,996 7K 1yr TC 19,25 17, 13% 13,842 55,887 52,567 7K 3yr TC 15,7 14,95 5% 14,542 44,556 39,974 52K 6mnt TC 18,75 17,5 7% 12,421 47,159 48,822 52K 1yr TC 15,2 14,45 5% 11,95 45,71 45,92 52K 3yr TC 13,5 13,25 2% 12,58 34,38 34, 45k 6mnt TC 15,7 14,95 5% 1,674 41,681 43,639 45k 1yr TC 12,75 12,5 2% 1,434 38,923 4,12 45k 3yr TC 11,7 11,7 % 1,997 28,431 29,63 3K 6mnt TC 12,25 12, 2% 9,15 3,547 31,596 3K 1yr TC 1,95 1,7 2% 9,3 29,686 28,32 3K 3yr TC 1,5 1,25 2% 1,47 22,87 22,113 Bulk Carriers SH Values (5yrs) Capesize Panamax Handymax Handysize 1-Mar-8 1-Apr-8 1-May-8 1-Jun-8 1-Jul-8 1-Aug-8 1-Sep-8 1-Oct-8 1-Nov-8 1-Dec-8 1-Jan-9 1-Feb-9 1-Mar-9 1-Apr-9 1-May-9 1-Jun-9 1-Jul-9 Baltic Indices Intermodal Research 3 2/6/29 Index 22, 2, 18, 16, 14, 12, 1, 8, 6, 4, 2, 2-Jan-6 24, 21, 18, 15, 12, 9,, 3, 2-Jan-6 2-Apr-6 2-Apr-6 2-Jul-6 2-Jul-6 BCI BPI BSI BHSI BDI 2-Oct-6 2-Oct-6 2-Jan-7 AVR 4TC BCI AVR 5TC BSI 2-Jan-7 2-Apr-7 2-Apr-7 2-Jul-7 2-Jul-7 2-Oct-7 2-Oct-7 2-Jan-8 2-Apr-8 2-Jul-8 2-Oct-8 2-Jan-9 2-Apr-9 2-Jul-9 Average T/C Rates for Baltic Indices AVR 4TC BPI AVR 6TC BHSI 2-Jan-8 2-Apr-8 2-Jul-8 2-Oct-8 2-Jan-9 2-Apr-9 2-Jul-9 Dry Bulkers 1 Year Period Rates Capesize Panamax Handymax Supramax Handysize 21, 18, 15, 12, 9,, 3, 5-Jan-7 5-Mar-7 5-May-7 5-Jul-7 5-Sep-7 5-Nov-7 5-Jan-8 5-Mar-8 5-May-8 5-Jul-8 5-Sep-8 5-Nov-8 5-Jan-9 5-Mar-9 5-May-9 5-Jul-9 Dry Bulkers 3 Year Period Rates Capesize Panamax Handymax Supramax Handysize 12,, 8,, 4, 2, 5-Jan-7 5-Mar-7 5-May-7 5-Jul-7 5-Sep-7 5-Nov-7 5-Jan-8 5-Mar-8 5-May-8 5-Jul-8 5-Sep-8 5-Nov-8 5-Jan-9 5-Mar-9 5-May-9 5-Jul-9 The Dry Bulk sector has seen a great week. There is definitely an improvement in volume of enquiries, interest and deals surrounding bulkers and as a result an improvement in asset prices. This week the capesize Mineral Azalea (171,199dwt-built 1999) was bought by TMT for the very firm price of 46.35 $m. By way of comparison, about a month ago the similar Tai Shan (169,147dwt-built 1999) was acquired by vale for 38.5$m. Also, the capesize Trinity Bulk (151,15dwt-built 199) was sold to Chinese for 18$m and the older capesize Cse Wisdom (15,431dwt-built 1984) was sold to Chinese for 1.1$m. HMM acquired a post panamax newbuilding resale of 91,8dwt with delivery 11/29 from Sungdong for 4.5$m. The kamsarmax Trafalgar (76,397dwt-built 21) was bought by Chinese for 28$m. In January, the similar Vitaspirit (74,269dwt-built 21) was sold to Greeks for 25$m. In the panamax sector the Lansing (73,4dwt-built 1996) fetched 21.5$m, the Far Eastern Express (69,31dwtbuilt 1992) was sold to Chinese for 14.85$m, the Mitsa (64,896dwt-built 1981) was bought by Middle Easterns for 4$m and finally the Sea Charm (63,87dwt-built 1982) was sold to Chinese for 3.5$m. The handymax Moorgate (45,875dwt-built 199) was acquired by Indonesians for 11.3$m. In January, the similar Soul of Luck (46,826dwt-built 1991) was sold for 6.5$m. In the handysize sector, the Ivs Kenso (32,642dwt-built 25) was acquired by Greeks for 22.2$m. Beginning of April, the similar Angel Arrow (32,355dwt-built 24) was sold to MUR for 2$m. To continue in the handysize sector, the Darya Raag (3,46dwt-built 1996) was purchased by Greeks for 14$m, the Opal Naree (28,78dwt-built 1982) fetched 3.1$m, the Sanko Eagle (27,868dwt-built 1997) was sold to Chinese for 14.5$m, the Blue Leo (23,62dwt-built 1998) and Blue Aries (23,612dwt-built 1998) were sold e/b to Vogemann for 12$m each, and the Manisamut Naree (21,341dwt-built 1983) fetched 3.5$m. In the mini bulk sector, the Plori (8,556dwt-built 1983) was sold to Syrians for 1.1$m, the Lado (8,522dwt-built 1984) was also sold to Syrians for 1.2$m, and finally the very modern Bbc Gdansk (7,787dwt-built 29) was acquired by Schnappchenfonds for 18.4$m.

Secondhand Sales Intermodal Research 4 2/6/29

Secondhand Sales Intermodal Research 5 2/6/29

New Building Market million $ 18 1 14 12 8 4 2 1-Jul-6 1-Sep-6 1-Nov-6 Gas Tankers Bulkers Tankers NB Prices (m$) VLCC Suezmax Aframax LR1 MR 1-Jan-7 1-Mar-7 1-May-7 1-Jul-7 1-Sep-7 1-Nov-7 1-Jan-8 1-Mar-8 1-May-8 1-Jul-8 1-Sep-8 1-Nov-8 1-Jan-9 1-Mar-9 1-May-9 1-Jul-9 Indicative Newbuilding Prices (million$) Vessel Week Week 22 21 ±% 29 28 27 Capesize 17k 69. 71. -2.8% 74 96 87 Panamax 75k 35.5 35.5.% 38 54 47 Supramax 57k 33.5 34.5-2.9% 36 48 43 Handysize 3k 26.8 26.8.% 27 37 33 VLCC 3k 118. 122. -3.3% 132 155 138 Suezmax 15k 67. 69. -2.9% 76 96 86 Aframax 11k.5 62. -2.4% 65 78 69 LR1 7k 51. 53. -3.8% 56 66 61 MR 47k 4. 41. -2.4% 43 52 5 LPG M3 75k 8.5 8.5.% 84 94 92 LPG M3 52k 72. 72..% 75 85 78 LPG M3 23k 47.5 47.5.% 49 55 52 Please note that due to the lack of new newbuilding orders in most of the above sectors, the prices are estimates. million $ 13 12 11 9 8 7 5 4 3 2 1 1-Jul-6 1-Sep-6 1-Nov-6 Bulk Carriers NB Prices (m$) Capes ize Panamax Supramax Handys ize 1-Jan-7 1-Mar-7 1-May-7 1-Jul-7 1-Sep-7 1-Nov-7 1-Jan-8 1-Mar-8 1-May-8 1-Jul-8 There are no newbuilding contracts to report for yet another week. 1-Sep-8 1-Nov-8 1-Jan-9 1-Mar-9 1-May-9 1-Jul-9 Intermodal Research 6 2/6/29

Demolition Market The demolition market seems to be sending mixed signals to industry players. The strengthening of the dry freight rates has led to withdrawal of most bulk carriers from the scrapping list. Moreover, the unexpected rise in prices from India and Pakistan few weeks ago, has created false expectations. Nevertheless, there still exists plenty of demo tonnage in the market and several deals are concluded. In Bangladesh, demo prices remain well down by their usually lofty standards, offering now around 2$/ldt for wet and 23$/ldt for dry tonnage. Bangladeshi breakers have been largely uncompetitive for several weeks now, and for the past week only two deals were reported: the handysize bulker Boe West (34,618dwt-7,995ldt-built 1982) fetched 235$/ldt, and the small tanker Kemeri (17,61dwt-5,522ldt-built 1985) fetched 285$/ldt. Wet Dry Indicative Demolition Prices ($/ldt) Markets Week Week 22 21 ±% 29 28 27 Bangladesh 2 25 4.% 295 591 43 India 265 2 1.9% 277 566 372 Pakistan 275 275.% 285 555 368 China 25 25.% 226 385 254 Bangladesh 23 225 2.2% 256 538 373 India 23 23.% 249 522 35 Pakistan 24 24.% 254 56 342 China 225 225.% 28 339 229 Indian breakers seem to have a great appetite for demo tonnage, as most of the deals were done by them. This week Indian ship recyclers have acquired the container Ym Prominence (3,266teu-16,824ldt-built 1987) for 245$/ldt, the roros Golden Ray II (16,178dwt-13,121ldtbuilt 1985) for 235$/ldt and Astro Coach (13,95dwt-12,543ldt-built 198) for 2$/ldt, asis Durban, the containers Himalaya (1,93teu- 12,25ldt-built 1978) and Msc Socotra (2,258teu-11,834ldt-built 198) for an undisclosed price, the LPG Maharshi Vasishth (22,711cbm- 8,128ldt-built 1976) and reefer Snowfrost (459,95cuft-7,137ldt-built 198) also for an undisclosed price, and finally the container Sima Tina (1,152teu-7,32ldt-built 1982) for 255$/ldt and the handysize bulker Antigoni B (26,732dwt-6,844ldt-built 1977) for 25$/ldt. Moreover, Pakistani breakers have acquired the panamax bulker Vitafos (61,973dwt-11,246ldt-built 1981) for 2$/ldt, and Chinese ship recyclers have bought the handysize bulker Jin Hong Hai (29,324dwt-7,444ldt-built 1976) for 227$/ldt. $/ldt 8 7 5 4 3 2 1-Jan-5 1-Apr-5 1-Jul-5 Wet Demolition Prices Bangladesh India Pakistan China 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 1-Apr-9 1-Jul-9 $/ldt 8 7 5 4 3 2 1-Jan-5 1-Apr-5 1-Jul-5 Dry Demolition Prices Bangladesh India Pakistan China 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 1-Apr-9 1-Jul-9 Intermodal Research 7 2/6/29

Stock Exchange Data Currencies Commoditites Market Data 1-Jun-9 29-May-9 28-May-9 27-May-9 26-May-9 W-O-W Change % Dow Jones 8,721.4 8,5.3 8,43.8 8,3. 8,473.5 5.4% Nasdaq 1,829 1,774 1,752 1,731 1,75 8.1% S&P 5 943 919 97 893 91 6.3% FTSEurofirst 3 886.3 862.2 8.2 87.6 865.1 3.3% DJ Euro Stoxx 5 2,537 2,451 2,453 2,479 2,465 4.% FTSE 4,56 4,418 4,388 4,416 4,412 3.2% FTSE All-Share UK 2,298 2,253 2,237 2,252 2,248 3.1% CAC4 3,379 3,278 3,264 3,295 3,27 4.4% Xetra Dax 5,143 4,941 4,933 5,1 4,986 4.6% Nikkei 9,678 9,523 9,451 9,439 9,311 3.5% Hang Seng 18,889 18,171 17,885 17,885 16,992 1.3% FTSE All World $ 166.74 162.36 159.88 159.3 159.78 5.7% / $ 1.42 1.42 1.39 1.39 1.4 1.1% / $ 1.64 1.61 1. 1. 1.59 3.3% / $.86.88.87.87.88-2.2% $ / 96. 95.5 96.7 95.1 94.8 1.6% / 158.7 153.9 154.5 152.5 151.1 5.% $ INDEX 85.1 85.2 86.4 85.9 85.9-1.% / SFr 1.52 1.51 1.51 1.51 1.52 -.1% Oil Brent $ 68.58 66.31 65.8 63.45 62.45 12.% Oil WTI $ 67.97 65.52 64.39 62.5 61.24 12.9% Gold $ 978.7 959.8 949.1 952.25 958.8 2.3% Company Maritime Stock Data Stock W-O-W Curr. 1-Jun-9 29-May-9 28-May-9 27-May-9 26-May-9 22-May-9 Exchange Commodities & Financial Market Bunker Prices W-O-W 29-May-9 22-May-9 Change % Rotterdam 454.5 446.5 1.8% Houston 467.5 457.5 2.2% Singapore 49. 484. 1.2% Rotterdam 343.5 357. -3.8% Houston 35. 346.5 1.% Singapore 364.5 356. 2.4% Rotterdam 361.5 358.5.8% Houston 361.5 358.5.8% Singapore 37.5 364.5 1.6% Change % Max 52wk Min 52wk AEGEAN MARINE PETROL NYSE USD 16.25 15.95 15.73 15.28 14.86 14.75 8.1% 44.17 7.93 ARIES MARITIME TRANSPORT NASDAQ USD.72.71.66.67.69.67 6.% 5.94.32 CAPITAL PRODUCT PARTNERS L.P. NASDAQ USD 1.35 9.97 9.38 9.28 9.35 9.12 9.3% 21.33 5.23 DANAOS CORP NYSE USD 4.27 4.12 4.1 4.9 4.9 4.8 1.% 26.43 3.7 DIANA SHIPPING NASDAQ USD 18.2 18.3 17.32 16.35 16.18 15.72 14.7% 68.78 7.24 DRYSHIPS INC(IPO) NASDAQ USD 7.79 8.19 7.3 6.8 6.88 6.63 23.5% 12.36 2.79 EUROSEAS LTD NASDAQ USD 5.8 5.9 5.78 5.56 5.48 5.24 12.6% 16.51 3.12 EXCEL MARITIME CARRIERS NYSE USD 11.4 1.7 1.24 1.8 1.15 1.36 3.3% 53.1 3.17 FREESEAS INC NASDAQ USD 2.89 2.59 2.79 2.19 1.9 1.9 36.3% 7.32.54 GENCO SHIPPING NYSE USD 28.26 26.15 23.8 21.75 2.96 19.39 34.9% 75.47 1.66 GENERAL MARITIME NYSE USD 1.4 9.58 9.45 9.32 9.4 8.95 7.% 3.64 6.47 GLOBUS MARITIME LTD LONDON GBX 83.5 72.5 74. 68. 68. 68. 6.6% 555. 42.89 HELLENIC CARRIERS LTD LONDON GBX 68..58 7. 68. 68. 7. -13.5% 245.83 48.5 NAVIOS MARITIME CORP NYSE USD 5.46 5.49 4.74 4.51 4.44 4.21 3.4% 13.55 1.21 OCEANFREIGHT INC NASDAQ USD 1.71 1.69 1.65 1.67 1.71 1.71-1.2% 26.7.82 OMEGA NAVIGATION ENTERPRISES INC NASDAQ USD 5. 4.59 4.26 4.8 3.9 3.77 21.8% 2.82 3.4 PARAGON SHIPPING INC NASDAQ USD 5.4 5.28 5.23 5.31 5.39 5.37-1.7% 21.8 2.37 STEALTHGAS INC NASDAQ USD 5.48 4.95 4.63 4.53 4. 4.56 8.6% 17.67 2.72 TOP SHIPS INC NASDAQ USD 2.29 1.77 1.73 1.7 1.68 1.64 7.9% 9.98.77 TSAKOS ENERGY NAVIGATION INC NYSE USD 22.99 22.54 21.46 2.9 2.91 2.35 1.8% 38.59 12.43 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. oil MDO 38cst 18cst 67 66 65 64 63 62 61 25-May Basic Commodities Weekly Summary Oil Brent $ Oil WTI $ Gold $ 26-May 27-May 28-May 29-May 965 9 955 gold 95 945 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 8 2/6/29