WEEKLY SHIPPING MARKET REPORT WEEK 42-16 th October to 23 rd October 2012 - Legal Disclamer 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, Shiptrade Services 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. Researched and compiled by: Shiptrade Services SA, Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions please contact: market-research@shiptrade.gr Shiptrade Services SA Tel +30 210 4181814 snp@shiptrade.gr 1st Floor, 110/112 Notara Street Fax +30 210 4181142 chartering@shiptrade.gr 185 35 Piraeus, Greece www.shiptrade.gr tankerchartering@shiptrade.gr
Shipping, Commodities & Financial News Russia s Grain Exports Seen by Ikar Slowing on High Prices Grain exports from Russia, the world s third-biggest wheat shipper last season, will slow through June because of high prices, said Dmitry Rylko, general director of the Institute for Agricultural Market Studies. Russia s exports this month may be 2 million to 2.5 million metric tons, Rylko said by phone in Moscow today. Shipments were 3.16 million tons last month, according to Agriculture Ministry data. The last time Russia sold wheat in a tender to Egypt was Sept. 13, according to data on Bloomberg. There are almost no new contracts signed because our domestic prices are higher than world prices, Rylko said. We are not competitive. Wheat for December delivery rose 1.1 percent to $8.8175 a bushel on the Chicago board of trade by 4:24 p.m. Moscow time. That is equivalent to $324 a ton. Russia s exports were 9.5 million tons this season through mid-october, Rylko said. Total exports for the season that started July 1 are forecast at 12 million to 12.5 million tons, he said. (Bloomberg) Argentine storms to help grain output, hurt quality Argentine grains output will benefit from this year's early and potent arrival of El Nino-related rains, but low crop quality linked to flooding is likely to undermine the expected increase in soy and corn volume. Consumer nations hope South American breadbaskets Argentina and Brazil can help bolster global food stocks cut by dry weather in grains behemoths Russia and the United States. The violent storms that pelted the Argentine Pampas in August and September allowed growers to plant in areas usually too dry for farming. On the downside, corn sowing has been bogged down by mud while floodwaters hit some wheat crops, making them vulnerable to qualitysapping pests and fungi. "This year's El Nino effect has been one of the earliest on record, and one of the most chaotic," said Eduardo Sierra, climate adviser to the Buenos Aires Grains Exchange. "The effects will include high volume but low crop quality." El Nino, a climate pattern characterized by warm ocean temperatures in the tropical Pacific, tends to bring rain to South America's grains belt. Most climate experts expect a net increase in 2012/13 output that should at least help stabilize soaring global prices of grains, but this year's fickle weather could bring more surprises. "Let's not pop the champagne until the harvests are in, and maybe even sold, because the weather will remain very unstable and could do more damage than expected," Sierra said. The U.S. farm belt is coming off its worst drought in half a century and Russia's wheat crop is down more than a quarter from last year. The losses have lit a fire under Chicago grains futures, propelling wheat 31 percent higher since January, while soy has jumped by more than 28 percent and corn 17 percent. Argentina is a top supplier of all three crops. Sierra said this year's unusual weather could set the stage for Argentina to produce the record 55 million metric tons of soybeans and the record 28 million metric tons of corn forecast by the U.S. Department of Agriculture. The USDA sees Argentina's 2012/13 wheat output at 11.5 million metric tons. About 1 million hectares (2.5 million acres) of prime Buenos Aires farmland will probably be ruined by floods this season, Sierra said. "Nonetheless," he added, "the rains have increased the overall area in Argentina that can be used for agriculture this year, amply compensating for the losses." Argentina says 2012/13 production of soy, its top crop, could smash previous records and hit 58 million metric tons. This year's planting is just beginning. The country is the world's biggest exporter of soyoil, used in biofuels, and of soymeal animal feed used as far away as China, where the new middle class has begun a love affair with beefsteak. WACKY WEATHER The storms that have dominated Argentina's 2012/13 grains season began in August, when Buenos Aires province usually gets about 25 millimeters (1 inch) of water. This year Buenos Aires and surrounding areas received 290mm, flooding farm areas that were inundated again 30 days later by El Nino-related showers. "For 60 percent of the agriculture business in Argentina, El Nino-induced weather will be positive, the other 40 percent will have varying degrees of losses," said Anthony Deane, head of consultancy Weather Wise Argentina. He forecasts that southern Brazil, which produces half of that country's soy, will get too much rain while the other half of the crop receives too little. Considering the damage that the weather will do to crop quality in the 2012/13 season, Deane warns that consumers might end up disappointed with the amount of downward pressure that the region's output puts on international grains prices. The back and forth of clashing weather systems will likely delay soy collection while hurting harvest quality, especially in southern Brazil, Deane said. "Argentine soybeans should suffer a little less, because rainfall volume will be less over the long run than in southern Brazil," Deane said. He forecasts moderate rains in November, which should give soy planting a good start. "But," he added, "we expect excess rainfall again in December, which means that an important percentage of planned planting of soybeans will not be able to get completed." (Reuters) Transatlantic clean tanker activity muted Clean tanker rates for refined petroleum products on top export routes were broadly steady with slower business and a growing surplus of vessels keeping activity in the transatlantic market muted. Rates for medium-range (MR) tankers for 37,000 tonne cargoes from Rotterdam to New York on the TC2 route were at W115.42, or $4,713 a day when translated into average earnings, compared with W116.35 or $4,900 a day on and W124.17 or $6,491 a day last Monday. "Weak U.S. gasoline import demand has reduced TC2 enquiry, with tonnage building steadily as a result," broker SSY said. In September, MR rates reached their highest in six months. "The transatlantic arbitrage window remained at the close of the (last) week, likely preventing a pickup in demand and thus causing further negative pressure," broker CR Weber said. In April last year, rates reached their highest since 2008 on a jump in U.S. gasoline demand, helping reduce the number of tankers available for hire. Since then, average earnings have remained volatile. Average earnings per day are calculated after a vessel covers its voyage costs such as bunker fuel and port fees. Negative rates indicate costs are greater than earnings. Analysts said reduced refinery capacity in the Atlantic Basin could boost long-haul demand for the wider products tanker sector in coming years, helped by the delivery of fewer tankers. Typical Long Range 2 or LR2, 75,000 tonne shipments on the Middle East Gulf to Japan route were at W109.77 in the worldscale measure of freight rates, or $14,043 a day when translated into average earnings, from W110.23 on Friday or $14,213 a day and W105.68 or $11,988 a day last Monday. In July rates hit their highest level since late October of 2011. Brokers said the LR2 market saw brisk demand to book vessels in recent days. Long Range 1 tankers, carrying 55,000 tonne loads from the Middle East Gulf to Japan, were at W129.50 on Monday, from W128.13 on Friday and W114.50 last Monday. "Tonnage continued to thin in the MEG LR market as recent strong activity continued," SSY said. In the Mediterranean, 30,000 tonne shipments ex-algeria to southern Europe were at W207.50 on Monday, versus W202.22 on Friday and W168.06 last Monday. Brokers said tighter availability and buoyant demand was bolstering rates. (Reuters) 1
Dry Bulk - Chartering In Brief: Capes and Panamaxes improved and driven the market upwards while Supras and Handies remained stable Capes: Positive week for Capes This upward trend reflected on the BCI which closed at 2,217 improved by 303 points. In the atlantic market, fronthaul trade produced many fresh requirements closing slightly over USD 30,000 increased by almost USD 3,000 compared to last week s levels. Same pattern applied on the transantlantic round trips fixing at around USD 11,500 / USD 12,000. In the pacific market, round trips closed at around USD 17,500 with the Australian iron ore trade kept playing a determinant role at the area reported a notable increase of USD 5000. Period fixed at around USD 12,750 levels for one year. Panamax: Quite week in both basins. In the Atlantic, although we saw a positive trend at the very beginning of the week, rates were somewhat decreased at the end. BPI index at the beginning of the week was at 885 to end up at 879 on Friday. Thus we saw some Transatlantic round voyages closing at USD 6000-6500. Fronthauls rates ex US Gulf were quite positive this week with fixtures at USD 16000 plus a ballast bonus of USD 600K. Fronthaul trips ex ECSA were fixed at around USD 12000-13000 plus ballast bonus. In the Pacific basin the overall scene was rather steady. Nopac round voyages were mostly seen fixing at USD 7000-7500 levels basis dop delivery mid China-Japan range. Aussie and Indonesian round voyages were fixed at USD 6000 basis redelivery China Finally there was some movement reported on the short period market with fixtures at USD 8000 levels daily for 4/8 months basis redelivery worldwide. Supramax: Downfall continued throughout the week The downward trend continued during the week with the BSI closing at 732 decreased by 44 points. In the Atlantic basin, trips ex USG to Continent and EMED have been fixed at around USD 10,500 whereas fixture has been reported ex Continent to EMED at USD 11,000. Trips ex USG to FEAST have been fixed at around USD 17,000 / USD 18,000 and fronthaul ex Continent at around USD 13,500. The pacific market was also slow with negative sentiment. Trips bss delivery Singapore via Indonesia to Eci closed at around USD 9,000/USD 9,250. Trip via Indonesia to Thailand bss delivery Singapore has been reported at USD 9,000. Regarding nickel ore round trips fixed at around USD 10,000. Short period fixed at around USD 8,500 / USD 9,000. Handysize: Low levels in both basins The transatlantic round kept on the low levels of around USD 6,5/7,000, with a fixture reported at USD 8,250 aps Recalada to Continent and another one at USD 11,500 to WCSA. Continent remained at reasonable levels with trips to Med paying USD 8/9,000 daily. Emed/Bsea had more firm cargoes than the rest of the Atlantic but still at low levels with vessels seeing USD 6,5/7000 to Continent and around USD 10,000 for West Africa always basis aps, while a vessel got USD 10,000 ex Bsea to ECCA. Usg/Caribs remained at low numbers with trips to Continent/Med at around USD 7,000 per day. Pacific remained slow as the round voyage was done at USD 7,000. Once again the dominant cargoes were coal and clinker ex SEASIA while there were some steels ex North China and Korea but still not paying dissent levels. Eci was dead with vessels either ballasting to Spore to compete there or considering the bagged rice orders to West Africa which were done at around USD mid 40 s basis 1/1. At Wci/Pg owners had to live with levels of USD 4,5/5000 for trips to Eci/Seasia/China. Period activity remained weak this week as well. 2
Dry Bulk - Chartering Baltic Indices Dry Market (*Friday s closing values) Index Week 42 Week 41 Change (%) BDI 1010 926 9,07 BCI 2217 1914 15,83 BPI 879 871 0,92 BSI 732 776-5,67 BHSI 445 444 0,23 T/C Rates (1 yr - $/day) Type Size Week 42 Week 41 Change (%) Capesize 160 / 175,000 12750 12000 6,25 Panamax 72 / 76,000 8500 8750-2,86 Supramax 52 / 57,000 8000 8250-3,03 Handysize 30 / 35,000 7250 7500-3,33 Average Spot Rates Type Size Route Week 42 Week 41 Change % Far East ATL -2000-5250 - Capesize 160 / 175,000 Cont/Med Far East 30250 28500 6,14 Far East RV 17250 12500 38,00 TransAtlantic RV 11750 8750 34,29 Far East ATL -800-1000 - Panamax 72 / 76,000 ATL / Far East 16000 15750 1,59 Pacific RV 7000 6500 7,69 TransAtlantic RV 6000 6500-7,69 Far East ATL 3750 4000-6,25 Supramax 52 / 57,000 ATL / Far East 13750 14000-1,79 Pacific RV 7000 7250-3,45 TransAtlantic RV 7250 7500-3,33 Far East ATL 4500 3500 28,57 Handysize 30 / 35,000 ATL / Far East 12000 11750 2,13 Pacific RV 6000 5500 9,09 TransAtlantic RV 7000 6500 7,69 3
Dry Bulk - Chartering ANNUAL AUGUST 2012 OCTOBER 2012 4
Dry Bulk - Chartering Capesize Routes Atlantic 2011 / 12 $40.000,00 $35.000,00 $30.000,00 $25.000,00 $20.000,00 $15.000,00 $10.000,00 $5.000,00 $0,00 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 C2 TUB / ROT C4 RBAY / ROT C7 BOL / ROT C8 T/A RV AVG ALL TC Capesize Routes Pacific 2011 / 12 $60.000,00 $50.000,00 $40.000,00 $30.000,00 $20.000,00 $10.000,00 C3 TUB / PRC C5 W AUST / PRC C9 CONT / FE C10 FE R/V $- 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 Panamax Routes Atlantic 2011 / 12 30000 25000 20000 15000 10000 P1A T/A RV P2A CONT/FE 5000 0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 5
Dry Bulk - Chartering Panamax Routes Pacific 2011 /12 $20.000,00 $15.000,00 P3A FE R/V $10.000,00 P4 FE/CON $5.000,00 AVG ALL TC $0,00 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 $5.000,00 Supramax Routes Atlantic 2011 /12 35000 30000 25000 20000 15000 10000 5000 0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 S1A CON / FE S1B BSEA / FE S4A USG / CONT S4B CONT / USG S5 WAFR / FE Supramax Routes Pacific 2011 / 12 $18.000,00 $16.000,00 $14.000,00 $12.000,00 $10.000,00 $8.000,00 $6.000,00 $4.000,00 $2.000,00 $- 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 S2 FE R/V S3 FE / CON S7 ECI / CHI AVG ALL TC 6
Tanker - Chartering VLCC: The last couple of weeks we have seen improved activity in the Atlantic region, however the emerging surplus in position lists from the Middle East does not allow profits to be made as those ships can cover the supply both for Middle East and West Africa cargoes. Suezmax: The Suezmax market in the Atlantic showed an improvement while Charterers are moving towards the November program. WAFR-USAC route settled at the 62.5 levels improved by 5 points. Aframax: In the Atlantic and mostly due to some delays and sustained demand the CBS-USG route gained about 7.5 points and with the improving seasonal demand, profits are likely to be sustained and perhaps improved. The EU market saw stability and downwards pressure, with NSea-UK remaining flat at ws85 and Med-Med losing 2.5 points. AG-East route showed some stability closing at ws95. Panamax: The market in the Caribbean was stable this week and the European market also showed an increase closing at 132.5 ws for Cont-USAC. Products: The feeling in the Atlantic was weak, as the position list in the Caribbean market increased, the market softened with CBS-USAC route closing at ws 110; following a 10 point loss in the USG-TA route which concluded at ws70. An oversupply of units in the Atlantic, following previous positive weeks and increasing the tonnage position list, did not help make more gains with Cont-USAC dropping to ws117.5 writing down about 7.5 points. Baltic Indices Wet Market (*Friday s closing values) Index Week 42 Week 41 Change (%) BCTI 655 619 5.82 BDTI 676 667 1.35 T/C Rates (1 yr - $/day) Type Size Week 42 Week 41 Change (%) VLCC 300.000 19,500 19,500 0.00 Suezmax 150.000 16,250 16,250 0.00 Aframax 105.000 13,750 13,750 0.00 Panamax 70.000 13,000 13,000 0.00 MR 47.000 12,750 12,750 0.00 7
Tanker - Chartering Crude Tanker Average Spot Rates Type Size (Dwt) Route Week 42 WS Week 41 WS Change % 280,000 AG USG 23 23.25-1.08 VLCC 260,000 W.AFR USG 42.5 42.5 0.00 260,000 AG East / Japan 36 36 0.00 Suezmax 135,000 B.Sea Med 60 60 0.00 130,000 WAF USAC 62.5 57.5 8.70 80,000 Med Med 75 77.5-3.23 Aframax 80,000 N. Sea UKC 85 85 0.00 80,000 AG East 95 94.5 0.53 70,000 Caribs USG 97.5 90 8.33 Product Tanker Average Spot Rates Type Size (Dwt) Route Week 42 WS Week 41 WS Change % 75,000 AG Japan 110 103 6.80 Clean 55,000 AG Japan 125 110 13.64 38,000 Caribs USAC 110 115-4.35 37,000 Cont TA 117.5 125-6.00 Dirty 55,000 Cont TA 132.5 130 1.92 50,000 Caribs USAC 112.5 112.5 0.00 8
Tanker - Chartering VLCC Trading Routes 2011 / 12 Suezmax Trading Routes 2011 / 12 Aframax Trading Routes 2011 / 12 9
Tanker - Chartering Clean Trading Routes 2011 / 12 Dirty Trading Routes 2011 / 12 10
Sale & Purchase Signs of a standstill? The world of Financial Economical Social Business and off course Shipping people are counting the days for the American elections as many people seem to believe that change will come one way or another after this, Either President Obama comes out stronger or Senator Romney will have to give life to his program. The Global Economy is waiting for this as well and it seems that everyone is getting ready to sit on their chair and realize examine the results of the US Elections, 8-9 days remaining for that folks. Leaving this behind and back to business, we are reading the signs which show that the frenzy of previous months has slowed down. This can be seen from the number of buyers inspecting Panamaxes which has dropped to single digit levels, while during June August it was a two digit number. The same goes for Handymax buyers, with Supramax interest remaining increased, however only a handful of vessels in the market gives a reason for Supramax pricings to remaining slightly increased. Following the very delicate marketing of the vessel, and with quite a few people having inspected her, we will be waiting for about 10 days to hear of the offering figures for Sojitz Managed Handymax Bulker Sunny Gloria (45.700 dwt blt Tsunieshi JPN 1998), however the last similar sale where KS Spirit (48.900 dwt blt IHI JPn 1999) reported last week sold for USD 10.5 mill and Global Santosh (45.500 dwt blt Tsuneishi Jpn 1997) reported about one month ago for USD 8.6 mill. This Weeks Shiptrade enquiry Index shows increased interest for late 90ies Handymaxes and Supramaxes built in the 00 s, mostly because a limited offering. We also receive requirements for Panamaxes of all ages starting from mid 90ies. Handies where, as always, dominating the interest in all ages starting form mid 90ies up to resales. Demand for Capes has decreased this week. Regarding the Tanker side we have received increased interest for MR1 tankers this week following the demand for MR2 s. Aframaxes where also of strong demand, however the recent requests for Panamaxes / LR1 s have not been limited. Last but not least, Interest for nineties built Suezmaxes has occurred from the Far East. NEWBUILDINGS In the newbuilding market, we have seen 22 vessels reported to have been contracted. 12 Bulk carriers (Handysize, Kamsarmax) 2 Tankers (Handy) 8 Container (2.300 TEU) DEMOLITION There are some signs of improvement in the market. India has, as usual, dominated the market with their offering levels showing some stability at their recent high s and looks like those buyers are paying more than Pakistan for Tankers. Bangladesh based buyers seem to start entering the market with some demand being there, however, at levels slightly below USD 400 / LT. Pakistan is as always firm for Large Bulker and mostly for Tankers at competitive levels, although about USD 10 / LT below India. The Chinese market is remaining at low levels less than USD 400, with some market players spreading a word that the Giant is about to wake, meantime we ll have to wait and see. 11
Sale & Purchase Indicative Market Values ( 5 yrs old / Mill $ ) Bulk Carriers Week 42 Week 41 Change % Capesize 34 34 0.00 Panamax 22 22 0.00 Supramax 19 19 0.00 Handysize 17 17 0.00 Tankers VLCC 58 58 0.00 Suezmax 44 44 0.00 Aframax 27 27 0.00 Panamax 27 27 0.00 MR 23 23 0.00 Weekly Purchase Enquiries 350 300 250 200 150 100 50 SHIPTRADE P/E WEEKLY INDEX KOREA CHINA SPORE KCS GREECE OTHER SUM 0 27/12/2011-9/1/2012 10-16/1/2012 17-23/1/2012 24-30/1/2012 31/1-6/2/2012 7-13/2/2012 14-20/02/2012 21-27/02/2012 28/2-5/03/2012 6-12/03/2012 13-19/03/2012 20-26/03/2012 27/3-2/4/2012 3-9/4/2012 10-16/4/2012 17-23/4/2012 24/4-1/5/2012 2-8/5/2012 9-15/5/2012 16-22/5/2012 23-29/5/2012 30/5-5/6/2012 6-12/6/2012 13-19/6/2012 20-26/6/2012 27/6-3/7/2012 4/7-10/7/2012 11/7-17/7/2012 18-24/7/2012 25-31/7/2012 8-14/8/2012 15-21/8/2012 1-7/8/2012 22-28/8/2012 29/8-4/9/2012 5-11/9/2012 12-19/9/2012 19-25/9/2012 26/9-2/10/2012 3-9/10/2012 10-16/10/12 17-23/10/12 12
Sale & Purchase Reported Second-hand Sales Bulk Carriers Name Dwt DoB Yard SS Engine Gear Price Buyer Glory Claire 170.454 2000 IHI, JPN 04/2015 Sulzer - 17 mill Undisclosed Tala 26.849 1986 Usuki, JPN 07/2016 MIT 4 X 30 T 3.5 mill Chinese Pan Dynamic 26.717 1985 Kurushima, JPN 12/2015 B&W 4 X 30 T 2.7 mill Syrian Tasman ID 21.702 1994 Saiki, JPN 04/2014 MIT 4 X 30 T Region 5 mill Chinese Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer Kensington 298.437 1995 Daewoo, KOR 11/2015 Sulzer DH 24 Russian Kinko Maru 105.433 2003 Namura, JPN 10/2013 B&W DH 16.4 mill Middle Eastern Genmar Ajax 96.183 1996 Samsung, KOR 07/2016 B&W DH 7.5 mill Indonesian Max Schulte 34.999 1999 Guangzhou, CHN 11/2014 B&W DH 8.6 Undisclosed Gas Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer Gas Leo 49.996 1990 Mitsubishi, JPN 06/2015 MIT DH 15 Naftomar 13
Newbuildings Newbuilding Orders No Type Dwt / Unit Yard Delivery Owner Price 2 + 4 BC 82.000 Jinling 2014 Oldendorff - 3 + 3 BC 39.000 Jinling 2014 Oldendorff - 2 Tanker 23.000 HMD 2013 2014 Atlanship - 4 + 4 Container 2.300 Yangfin 2014 2015 Schulte - Newbuilding Prices (Mill $) Japanese/ S. Korean Yards Newbuilding Resale Prices Bulk Carriers Capesize 45 42 Panamax 31 29 Supramax 29 27 Handysize 23 21 Tankers VLCC 93 85 Suezmax 60 58 Aframax 47 42 Panamax 40 37 MR 34 31 Newbuilding Resale Prices Bulk Carriers (2008 Today) Tankers (2008 Today) 14
Demolitions Demolition Sales Vessel Type Built Dwt Ldt Buyer Country Price Biloxi Belle BC 1984 39.225 7.341 India 428 Elbe Trader Container 1994 22.525 7.259 India 425 as is Colombo Front Driver BC 1991 169.178 23.500 India 400 as is Singapore Indian Fortune BC 1985 23.542 5.500 India 429 Iolcos Glory BC 1982 74.841 12.814 India 428 Kimon A BC 1983 23.817 5.663 India 431 Silver Bay Container 1988 22.286 8.040 India 411 as is Singapore Titan BC 1983 43.214 8.381 India 437 Indrani BC 1986 69.611 9.709 China 355 Demolition Prices ($ / Ldt) Bangladesh China India Pakistan Dry 390 350 425 410 Wet 420 370 450 440 Demolition Prices Bulk Carriers (2008 Today) Tankers (2008 Today) 15
Financial Market Data Shipping Stocks Dry Bulk Company Stock Exchange Week 42 Week 41 Change % Baltic Trading Ltd (BALT) NYSE 3,39 3,26 3,99 Diana Shipping Inc (DSX) NASDAQ 7,18 6,67 7,65 Dryships Inc (DRYS) NASDAQ 2,36 2,28 3,51 Euroseas Ltd (ESEA) NASDAQ 1,14 1,14 0,00 Excel Maritime Carriers (EXM) NYSE 0,41 0,49-16,33 Eagle Bulk Shipping Inc (EGLE) NASDAQ 3,08 3,12-1,28 Freeseas Inc (FREESE) NASDAQ 0,18 0,21-14,29 Genco Shipping (GNK) NYSE 3,57 3,69-3,25 Navios Maritime (NM) NYSE 3,81 3,55 7,32 Navios Maritime PTN (NMM) NYSE 15,15 14,73 2,85 Paragon Shipping Inc (PRGN) NASDAQ 0,40 0,44-9,09 Star Bulk Carriers Corp (SBLK) NASDAQ 7,99 8,70-8,16 Seanergy Maritime Holdings Corp (SHIP) NASDAQ 1,64 1,65-0,61 Safe Bulkers Inc (SB) NYSE 5,86 5,74 2,09 Golden Ocean (GOGL) Oslo Bors (NOK) 4,28 4,32-0,93 Tankers Capital Product Partners LP (CPLP) NASDAQ 8,10 8,10 0,00 TOP Ships Inc (TOPS) NASDAQ 1,10 1,11-0,90 Tsakos Energy Navigation (TNP) NYSE 4,84 4,56 6,14 Other Aegean Maritime Petrol (ANW) NYSE 5,93 6,11-2,95 Danaos Corporation (DAC) NYSE 2,74 2,88-4,86 StealthGas Inc (GASS) NASDAQ 7,23 6,79 6,48 Rio Tinto (RIO) NYSE 51,05 48,72 4,78 Vale (VALE) NYSE 18,22 18,19 0,16 ADM Archer Daniels Midland (ADM) NYSE 28,53 28,06 1,67 BHP Billiton (BHP) NYSE 71,15 68,34 4,11 Commodities Commodity Week 42 Week 41 Change (%) Brent Crude (BZ) 107,83 114,80-6,07 Natural Gas (NG) 3,48 3,42 1,75 Gold (GC) 1710 1746-2,06 Copper 355,60 370,15-3,93 Wheat (W) 359,35 352,83 1,85 16
Financial Market Data / Bunker Prices / Port Congestion Currencies Week 42 Week 41 Change (%) EUR / USD 1,30 1,29 0,78 USD / JPY 79,33 78,43 1,15 USD / KRW 1105 1111-0,54 USD / NOK 5,66 5,70-0,70 Bunker Prices IFO 380 IFO 180 MGO Piraeus 635 670 995 Fujairah 635 655 1020 Singapore 632 641 935 Rotterdam 610 635 965 Houston 620 670 1035 Port Congestion* Port No of Vessels China Rizhao 18 Lianyungang 41 Qingdao 80 Zhanjiang 32 Yantai 32 India Chennai 9 Haldia 8 New Mangalore 9 Kakinada 7 Krishnapatnam 28 Mormugao 6 Kandla 62 Mundra 13 Paradip 13 Vizag 38 South America River Plate 243 Paranagua 38 Praia Mole 19 * The information above exhibits the number of vessels, of various types and sizes, that are at berth, awaiting anchorage, at anchorage, working, loading or expected to arrive in various ports of China, India and South America during Week 42 of year 2012. 17