Jun-4 Oct-4 Feb-5 Jun-5 Oct-5 Feb-6 Jun-6 Oct-6 Feb-7 Jun-7 Oct-7 Feb-8 Jun-8 Oct-8 Feb-9 Jun-9 Oct-9 Feb-1 Jun-1 Oct-1 Feb-11 Jun-11 Oct-11 Feb-12 Jun-12 Oct-12 Feb-13 Jun-13 Oct-13 Feb-14 Jun-14 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@atheniansa.gr M O N T H L Y R E P O R T Baltic Dry Index July 214 PRICES TANKERS ($ MIO) * Prices reflect Year s End 29* 21* 211* 212* 213* Jul-14 VLCC 5Y 78. 87.8 55.6 56. 55.8 74.2 VLCC 1Y 59.5 64.3 34.1 35. 35. 49. SUEZMAX 5Y 57. 62.8 45.6 4.2 39.5 49.7 AFRAMAX 5Y 4.5 44.5 34.7 28. 27.8 37.5 AFRAMAX1Y 23.5 3.7 19.3 16.3 16.3 23.2 PANAMAX5Y 35.5 39. 3.9 24.3 24.3 33. 45K 5Y D/H 23.5 27.3 25.8 23. 23.3 26.6 45K 1Y D/H 16. 19.7 15.8 15.5 15.7 18.4 45K 2Y 4. 6.7 6. 6.2 6.2 6.5 PRICES BULKERS ($ MIO) * Prices reflect Year s End 29* 21* 211* 212* 213* Jul-14 CAPESIZE 5Y 54.5 57. 36.3 32. 43.9 47.6 CAPESIZE 1Y 45. 43. 26.8 2.5 31. 34.5 CAPESIZE 15Y 28. 26. 15.2 12.7 18.2 21. CAPESIZE 2Y 16.5 16.4 1.5 9.3 1.1 1. PANAMAX 5Y 35. 38.5 26.4 18. 25.6 24.3 PANAMAX 1Y 27.5 31.6 18.6 12.5 17.9 18.7 PANAMAX 15Y 22. 23.1 12.4 8.3 12. 11.7 PANAMAX 2Y 12. 13.8 8.1 5.4 7.5 6. SUPRAMAX 5Y 27.5 31.9 26.4 23.3 24.3 25. HANDYMAX1Y 22. 24.7 18. 13. 17.4 18.5 HANDYMAX15Y 17.5 2. 11.1 8.7 1.9 12.5 HANDYMAX2Y 11. 12. 7.9 6.3 6.4 7.8
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 18. Monthly Tanker Market Trend 1 Monthly 1 Yr TC Rates 16. 9 14. 8 12. 7 1. 8. 6. 4. 6 5 4 3 2 2. 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 16. Monthly Bulk Carrier Market Trend 18 Monthly 1 Yr TC Rates 14. 16 12. 14 1. 8. 6. 12 1 8 6 4. 4 2. 2. CAPE 5Y CAPE 1Y CAPE 15Y PMAX 5Y PMAX 1Y PMAX 15Y SUPRA 5Y HMAX 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 4 3 3 2 1 355 327 3 21 THIS MONTH - PREVIOUS MONTH 2 1 199 21 35 34 THIS MONTH - PREVIOUS MONTH *Excluding demolition sales Sale and Purchase Market - Second Hand units Ship Type Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Total BULK 45 41 44 22 21 3 24 TANK 13 43 33 31 34 35 189 GAS 16 1 6 3 4 3 33 CONT 13 17 1 17 8 12 77 TWEEN 1 1 2 2 6 REEF RORO 2 2 FERRY CRUISE Total 88 13 93 75 71 81 511
4 Baltic Clean Tanker - Yearly 65 633 6 566 55 596 561 5 514 45 486 4 35 32 35 38 41 44 47 5 1 4 7 1 13 16 19 22 25 28 31 213 WEEK NO 214 Baltic Clean Tanker - Monthly 58 57 571 56 54 538 52 521 5 1/7/214 8/7/214 15/7/214 22/7/214 29/7/214 Baltic Dirty Tanker - Yearly 14 1287 12 1 928 8 657 6 597 4 32 35 38 41 44 47 5 1 4 7 1 13 16 19 22 25 28 31 213 WEEK NO 214 Baltic Dirty Tanker - Monthly 12 1 955 8 752 6 4 2 1/7/214 8/7/214 15/7/214 22/7/214 29/7/214 TANKER SALES NAME DWT BLT PRICE $ BUYER SARUHAN SERDAR 325 1984 TURKEY DB 1.1 MIO NIGERIAN CLIPPER CUILLIN 3424 25 TURKEY DH 5.5 MIO FAR EASTERN NANIWA MARU NO 3 4999 1992 JAPAN DB 2.5 MIO UNDISCLOSED CRANE BRIGHT 6788 22 JAPAN DH 7.15 MIO VIETNAMESE (Stst tanker) HOEI 8756 21 JAPAN DH 8 MIO FAR EASTERN (Stst tanker) PALMA AGRI SATU 12441 1995 ITALY DH 3.9 MIO UK BASED GOLDEN DENISE 12495 26 JAPAN DH 11 MIO S.KOREAN (Stst tanker) GLOBAL THEMIS 12665 27 S.KOREA DH 13 MIO VIETNAMESE SOUTHERN ROYAL 12675 1999 JAPAN DH 9 MIO S.KOREAN (Stst tanker. Bss SS/DD passed) MAASEN 15212 28 ROMANIA DH 14 MIO UNDISCLOSED MCT ALTAIR 19996 1999 CROATIA DH 8.7 MIO INDONESIA PACIFIC HORIZON II 37981 27 JAPAN DH 2 MIO UNDISCLOSED SILVER LINING 4613 23 JAPAN DH 13.7 MIO UNDISCLOSED HELLAS ENDURANCE 46144 1999 S.KOREA DH 1.1 MIO UNDISCLOSED HELLAS PROGRESS 46152 1999 S.KOREA DH 1.1 MIO UNDISCLOSED OVERSEAS LIMAR 4617 1996 S.KOREA DH 8.5 MIO UNDISCLOSED OVERSEAS NEDIMAR 46821 1996 S.KOREA DH 8.5 MIO GREEK NEAPOLIS 74543 26 JAPAN DH 25 MIO ULTRANAV ANTIPOLIS 74453 26 JAPAN DH 27.5 MIO ULTRANAV LIWA 74997 28 JAPAN DH 28.5 MIO GREEK AMORGOS WARRIOR 95621 1992 JAPAN DH 7.9 MIO VISTA, UKRAINE MOON LADY 149 29 JAPAN DH 21 MIO EASTERN PACIFIC SKY LADY 1537 28 JAPAN DH 21 MIO EASTERN PACIFIC STAR LADY 15522 25 JAPAN DH 21 MIO EASTERN PACIFIC SEA LADY 15611 23 JAPAN DH 21 MIO EASTERN PACIFIC
$/Day $/Day 5 SHARP LADY 116619 212 S.KOREA DH 21 MIO EASTERN PACIFIC SMART LADY 116715 211 S.KOREA DH 21 MIO EASTERN PACIFIC MORNING EXPRESS 15578 2 JAPAN DH 13.7 MIO UNDISCLOSED KOA SPIRIT 113334 1999 S.KOREA DH 12.5 MIO SINOKOR KHILDA KNUTSEN 123166 213 S.KOREA DH * ENBLOC BSS TORILL KNUTSEN 123166 213 S.KOREA DH 84.5 MIO KNOT OFFSHORE (Total Price) HUELVA SPIRIT 16383 21 S.KOREA DH 18.75 MIO UNDISCLOSED FRONT COMANCHE 3133 1999 JAPAN DH 23.5 MIO SINOKOR (Bss Surveys Due) FRONT COMMERCE 3144 1999 JAPAN DH 23.5 MIO SINOKOR (Bss Surveys Due) FRONT OPALIA 32193 1999 JAPAN DH 23.5 MIO SINOKOR (Bss Surveys Due) GAS SALES NAME DWT BLT CBM PRICE $ BUYER BARUC 361 1982 SPAIN 2795 2 MIO TRANSGAS, PERU JAG VIDHI 4971 199 JAPAN 73879 24 MIO UNDISCLOSED FLANDERS HARMONY 6422 1992 BELGIUM 8419 41 MIO UNDISCLOSED Spot Market - Tankers VLCC SUEZMAX AFRAMAX 7 6 5 4 3 2 1 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 39 3385 289 Period Market - Tankers 1 Year T/C VLCC SUEZMAX AFRAMAX 3 25 2 15 1 5 2789 2285 1994 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14
6 42 4 38 42 Baltic Handysize 369 75 7 687 Baltic Supramax 716 36 34 2 355 65 6592 32 1/7/214 8/7/214 15/7/214 22/7/214 29/7/214 6 1/7/214 8/7/214 15/7/214 22/7/214 29/7/214 Baltic Panamax 75 71 7 65 624 6 55 576 5 4 45 4 1/7/214 8/7/214 15/7/214 22/7/214 29/7/214 Baltic Capesize 22 2 188 18 16 14 4 1422 38 12 12 1 1/7/214 8/7/214 15/7/214 22/7/214 29/7/214 BULKER SALES NAME DWT BLT GEAR PRICE $ BUYER GAN SHUN 6844 1991 S.KOREA DR 2X25, DR 2X15 1.1 MIO UNDISCLOSED TAN BINH 24 7194 1991 JAPAN DR 4X25 1.2 MIO CHINESE CIGDEM S 12259 21 JAPAN CR 3X3 4.9 MIO TURKISH ANTILLES VII 12523 28 JAPAN CR 3X3 7.1 MIO ENBLOC BSS ANTILLES VI 12526 27 JAPAN CR 3X3 6.8 MIO TURKISH (Price each) ATLANTIC ARROW 28653 25 JAPAN CR 4X3 12.2 MIO GREEK CLEANTHES 2967 1984 JAPAN CR 4X16 2.5 MIO MIDDLE EASTERN OCEAN FORTUNE 31217 1985 JAPAN CR 4X25 3 MIO UNDISCLOSED OCEAN HARMONY 31882 21 JAPAN CR 4X3 18.7 MIO GREEK SCARLETT 33371 29 JAPAN CR 4X3 18.5 MIO GREEK SEA BONANZA 33928 212 JAPAN CR 4X3 23.5 MIO GREEK GLOBAL HORIZON 33633 21 JAPAN CR 4X3 18.7 MIO GREEK GLOBAL PROSPERITY 33721 26 JAPAN CR 4X3 16 MIO JAPANESE C HANDY 37 211 S.KOREA CR 4X3 17.6 MIO GREEK (Via Auction) MISOSA DREAM 4839 1996 JAPAN CR 3X15 5.1 MIO CHINESE (Chips Carrier) SPP TONGYEONG S1179 53 215 S.KOREA CR 4X35 * ENBLOC BSS SPP TONGYEONG S118 53 215 S.KOREA CR 4X35 37 MIO GREEK (Price Each) SANKO MINERAL 5757 28 JAPAN CR 4X4 17.2 MIO UNDISCLOSED (Via Auction) SAIKO MAJESTY 579 29 JAPAN CR 4X4 21.5 MIO GREEK MANDARIN HARVEST 57 29 CHINA CR 4X35 19 MIO GREEK BLUE OCEAN 57696 211 CHINA CR 4X3 19.5 MIO GREEK CROWN ALEXANDRA 57981 212 CHINA CR 4X36 * ENBLOC BSS CROWN MINA 5818 212 CHINA CR 4X36 24.9 MIO GREEK (Incl TC at Usd 116 Pd) CSK UNITY 68371 1995 JAPAN GLESS 6 MIO CHINESE
$/Day $/Day 7 RZS JOY 6957 1995 JAPAN GLESS 5.5 MIO CHINESE VOGE WEST 7728 1995 BRAZIL GLESS 5.8 MIO MIDDLE EASTERN B MAX 8491 211 S.KOREA GLESS 24 MIO UNDISCLOSED (Via Auction) ETERNAL SALUTE 87144 26 JAPAN GLESS 21.5 MIO GREEK SILVER PIONEER 172559 22 JAPAN GLESS 32.2 MIO S.KOREAN SHANDONG HUA ZHANG 18 214 CHINA GLESS 58 MIO GREEK COMBO SALES NAME DWT BLT GEAR PRICE $ BUYER D WHALE 319869 21 S.KOREA CR 6X3 6 MIO OAKTREE CAPITAL FUND, USA G WHALE 319869 211 S.KOREA CR 6X3 * ENBLOC BSS H WHALE 319869 211 S.KOREA CR 6X3 6 MIO GREEK (Via Court Sale) 45 4 35 3 25 2 15 1 5 Spot Market - Bulkers 725 68 315 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 CAPESIZE PANAMAX HANDYMAX 35 3 Period Market - Bulkers 1 Year T/C CAPE PMAX HANDYMAX 25 2 15 1 5 2271 11 858 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14
8 CONTAINER SALES NAME DWT BLT GEAR TEU PRICE $ BUYER DELMAS INDIA 7121 1995 DENMARK CR 2X7 444 2.75 MIO UNDISCLOSED VEGA TOPAS 1968 1999 CHINA GLESS 834 2 MIO UNDISCLOSED SITC PYEONGTAEK 1278 1994 POLAND GLESS 112 2.5 MIO UNDISCLOSED L AMANDA 24341 1997 JAPAN GLESS 156 4.5 MIO TEMAS LINE, INDONESIA IZUMO 24382 1997 JAPAN CR 3X4 1613 * ENBLOC BSS IWAKI 24383 1997 JAPAN CR 3X4 1613 11 MIO MIDDLE EASTERN (Total Price) YANGFAN CV22H- JT3 29 215 CHINA GLESS 22 * ENBLOC BSS YANGFAN CV22H- 29 215 CHINA GLESS 22 6 MIO SEATRADE, NETHERLANDS JT4 (Total Price) MAERSK NEUSTADT 33594 25 GERMANY CR 3X45 2474 * ENBLOC BSS MAERSK NEUCHATEL 33651 25 GERMANY CR 3X45 2474 13 MIO SOUNDVIEW MARITIME, GERMANY (Price Each) MSC SAO PAULO 63537 1998 S.KOREA GLESS 4545 9.5 MIO GREEK MAERSK DENVER 66983 24 S.KOREA GLESS 543 14.8 MIO SINOKOR
$m $m 9 N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C TS Tanker Prices VLCC Suezmax Aframax MR Bulker Prices Capesize Panamax Handymax Handysize 12 7 1 8 6 4 99.8 65.8 54.8 37.2 6 5 4 3 2 57.3 3 28 23.7 2 Jul-12 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 1 Jul-12 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 Dry Bulk Orderbook Ship Type 214 (deliv) 214 215 216+ Total Capesize 57 7 135 188 45 Panamax 11 166 17 125 562 Supra/Hmax 149 194 356 294 993 Handies 128 133 233 142 636 Total 435 563 894 749 2641 Tanker Orderbook Ship Type 214 (deliv) 214 215 216+ Total ULCC/VLCC 12 17 16 55 1 Suezmax 15 13 1 16 54 Aframax 15 27 53 45 14 Panamax 3 9 4 2 36 MR+Small 59 12 172 157 49 Total 14 168 255 293 82 LPG Tank Orderbook Ship Type 214 (deliv) 214 215 216+ Total VLGC 6 5 37 36 84 LGC 4 4 MR 5 8 1 36 59 Handy 9 8 18 9 44 Small 14 14 1 1 39 Total 34 35 79 82 23
m. dwt m. dwt No. of Vessels m. dwt 1 Newbuilding Sales 1 9 8 7 6 5 4 3 2 1 169 26 7 395 885 214 Tankers >1, dwt Bulkers >1, dwt Containerships 19 445 212 213 Jul-14 78 Delivery Schedule 7 Bulkers >1, dwt. Tankers >1, dwt 65.2 65.8 6 5 41 4 32.2 3 2 2 15.7 1 Jul-14 215 216+ Tanker Newbuildings on Order 3 26.5 25 2 VLCC Aframax Products 2.1 Suezmax Panamax Bulker Newbuildings on Order Capesize Panamax Handymax Handysize 8 7.8 7 6 45.9 5 15 13.1 4 36 1 5 5.8 2.4 3 2 1 16.5 July 214 July 214 Newbuilding Historical Prices ($m) Tankers Jul-14 213 212 211 21 29 28 27 25 2 1995 199 1985 31, DWT 1 99.8 93.8 93.2 98.9 14.8 97.5 15 145 12 76.5 85.3 87.4 2 38.2 17, DWT 1 65.8 59.6 57.1 6.3 66.3 61 9 9 71.5 52.5 54 66.1 2 28.2 11, DWT 1 54.8 52.2 48.5 52.2 56 49.5 74 72 58 41.5 43.3 53.2 2 18.1 47, DWT 1 37.2 34.6 33.8 35.2 36.1 35 46.5 52 43 29.5 33.2 3 32.1 3 13.3 Bulkers 18, DWT 1 57.3 53.6 45.7 48.4 57.2 55.5 87 96 58.5 4.5 42.3 6.2 29.3 73, DWT 1 3 27.8 25.6 28.7 34.3 34.5 45.5 54 36 22.5 27.9 3 13.4 45, DWT 28 26.5 23.7 26.7 31.1 29 41 47.5 31 2.5 24.1 25.3 12.4 29, DWT 23.7 22.2 2.5 22.2 26.3 24.5 31 34 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)
11 The Shipbuilding Market TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES AHTS 2 Armon (Vigo) 216 Rimorchiatori Riuniti SPA BULK 64 Zhejiang Yangfan 216 Korea Line BULK 64 Zhejiang Yangfan 216 Korea Line BULK 82 Jinling Shipyard 218 SDTR Marine BULK 82 Jinling Shipyard 218 SDTR Marine BULK 82 Jinling Shipyard 218 SDTR Marine BULK 82 Jinling Shipyard 217 SDTR Marine BULK 28 Hantong S.Y. 216 Oldendorff Carriers BULK 28 Hantong S.Y. 216 Oldendorff Carriers BULK 18 Sungdong S.B. 216 The-Hu Cargocean BULK 385 Shanghaiguan S.Y. 216 Prosperity Investment BULK 385 Shanghaiguan S.Y. 216 Prosperity Investment BULK 638 Chengxi Shipyard 217 Prosperity Investment BULK 638 Chengxi Shipyard 217 Prosperity Investment BULK 638 Chengxi Shipyard 216 Prosperity Investment BULK 638 Chengxi Shipyard 216 Prosperity Investment BULK 388 Chengxi Shipyard 217 Prosperity Investment BULK 388 Chengxi Shipyard 217 Prosperity Investment BULK 388 Chengxi Shipyard 216 Prosperity Investment BULK 388 Chengxi Shipyard 216 Prosperity Investment BULK 6 Onomichi Dockyard 217 Shih Wei Navigation BULK 18 Beihai Shipyard 216 Foremost Maritime BULK 18 Beihai Shipyard 216 Foremost Maritime BULK 18 Beihai Shipyard 216 Foremost Maritime BULK 18 Beihai Shipyard 215 Foremost Maritime BULK 64 COSCO Zhoushan 216 KC Maritime Ltd. BULK 64 COSCO Zhoushan 216 KC Maritime Ltd. BULK 82 COSCO Dalian 216 KC Maritime Ltd. BULK 82 COSCO Dalian 215 KC Maritime Ltd. Chem & Oil 25 Hyundai Mipo 216 Alterna Capital Chem & Oil 25 Hyundai Mipo 216 Alterna Capital Chem & Oil 25 Hyundai Mipo 216 Alterna Capital Chem & Oil 25 Hyundai Mipo 215 Alterna Capital Chem & Oil 25 Hyundai Mipo 215 Alterna Capital Chem & Oil 25 Hyundai Mipo 215 Alterna Capital Chem & Oil 125 Usuki Zosensho 216 NYK Stolt Shipholding Chem & Oil 125 Usuki Zosensho 216 NYK Stolt Shipholding CONT 37 Zhejiang Ouhua 217 Arkas Line CONT 37 Zhejiang Ouhua 217 Arkas Line CONT 12 Zhejiang Yangfan 216 NOSC CONT 12 Zhejiang Yangfan 216 NOSC Cruise 17 Meyer Werft 219 Norway Cruise Line Cruise 17 Meyer Werft 218 Norway Cruise Line Diving Support Shanghai Zhenhua 217 Sealion Shipping LNG 85 Daewoo 22 Teekay Corp LNG 85 Daewoo 22 Teekay Corp LNG 85 Daewoo 219 Teekay Corp LNG 85 Daewoo 219 Teekay Corp LNG 85 Daewoo 218 Teekay Corp Eur 8 Mio LNG 85 Daewoo 218 Teekay Corp Eur 8 Mio LNG 85 Daewoo 219 Arctic Purple LNG LNG 85 Daewoo 218 Arctic Purple LNG LNG 85 Daewoo 218 Arctic Purple LNG LPG 5 Kawasaki H.I. 216 Astomos Energy Corp. MSV 24474 Vyborg SY 216 Sovcomflot JSC MSV 24474 Vyborg SY 216 Sovcomflot JSC MSV 24474 Vyborg SY 216 Sovcomflot JSC MSV Kleven Verft 215 IES Pioneer LTD MSV Kleven Verft 216 IES Pioneer LTD Pass/Car Ferry 6 Remontowa S.B. 217 55 Mio BC Ferries Pass/Car Ferry 6 Remontowa S.B. 216 55 Mio BC Ferries
12 Pass/Car Ferry 6 Remontowa S.B. 216 55 Mio BC Ferries PSV 2 Eastern S.B. 216 Harvey Gulf Intl. TANK 159 Hyundai H.I. 216 Polembros Shipping TANK 159 Hyundai H.I. 216 Polembros Shipping AHTS 2 Armon (Vigo) 216 Rimorchiatori Riuniti SPA
Million dwt USD/ton USD/ton 13 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 475 /lt Ldt USD 48 /lt Ldt Bangladesh USD 435 /lt Ldt USD 46 /lt Ldt Pakistan USD 455 /lt Ldt USD 48 /lt Ldt China USD 3 /lt Ldt USD 31 /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 1 445 445 445 46 Price Tankers* 211 212 485 465 47 213 214 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC *India month's end prices 415 43 43 44 Price Bulkers* 465 455 45 211 212 213 214 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC *India month's end prices 13.4 27 28.65 26.9 38 25.6 14.5 4.9 2.35 4.6 3.8 Total Demolition (Dwt) 15.9 16.7 18.9 15.5 18 15.6 3.5 28.428.5 25 27 22.4 1 5.5 6.5 5 12 31.58 28.9 25.7 5.3 41.8 19.5 * Bss reported sales
USD/ton 14 6 Historical Demolition Prices (India Year's End) 5 4 3 2 TANKERS BULKERS Avg. Trend 1 HISTORICAL DEMOLITION PRICES (*Indian Year s End) 1996 1997 1998 1999 2 21 22 23 24 25 26 27 28 29 21 211 212 213 CURR. TANK 186 182 172 115 136 174 135 174 262 362 32 45 57 287 338 485 482 435 47 BULK 166 153 152 112 143 17 135 181 267 381 332 392 472 268 328 437 456 41 45 India TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK NADEEN 152 198 386 459 BULK SILICA I 1975 1987 66 473 BULK SAKHALIN 267 1984 6622 481 BULK HALIS KALKAVAN 368 1984 8139 472 BULK KHADIZA JAHAN 37596 1985 777 49 Incl 2T RoB BULK AMIRA NADIA 448 1985 99 482 BULK SZARE SZEREGI 7347 1991 13575 465 BULK ORLETA LWOWSKIE 7355 1991 13575 497 CONT HONG HAO 29744 1994 8926 496 Opt fr dely Pakistan CONT HONG WEI 37 1986 8518 496 Opt fr dely Pakistan CONT CSL RIDE 35592 1996 12953 531 CONT MSC CORINNA 38468 1984 13937 494 CONT MSC KYOTO 5354 1981 1874 495 REEF KASHIMA BAY 1664 1984 5754 565 Incl 7T RoB RORO CITY OF BEIRUT 9694 1987 918 54 Incl 59T RoB RORO TYRUSLAND 166 1978 1882 55 RORO TSGT JOHN A. CHAPMAN 26763 1978 13772 547 American Flag. Incl 45T RoB TANK VARADA BLESSING 299994 1993 38115 494 TWEEN ZHONG SHAN MEN 2353 1982 7347 473 Bangladesh TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK CARAKA JAYA NIAGA III-3 3 199 19 43 BULK BANGKAJA 6497 1981 192 43 BULK GOLDEN TRIP 653 1983 261 43 BULK XIN HAI ZHOU 85 1989 2495 44 BULK XIN HAI HAO 18592 1984 4654 445 BULK ROULA 3278 1983 8348 481 BULK S. CHAMP 33326 1984 7188 475 BULK HAI HAO 4864 1986 717 47 BULK SEA EAGLE 6581 1982 1199 415
15 GAS KANTHICHA 2876 1981 1881 45 LVSTK TORRENS 9217 1972 4776 44 Livestock Carrier RORO SKY OCEANUS 12928 1979 5669 471 TANK AKTI A 2828 1996 12 494 China TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS No Reported Sales Pakistan TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK HENG TONG 3 36227 1982 879 479 BULK TUSCARORA BELLE 44189 1984 7394 491 Incl 45T Bunkers RoB BULK KAI TONG 47175 1986 1218 479 TANK SILVA 82424 1986 152 51 TANK ATHENS WARRIOR 3643 1993 41992 5 Turkey TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS CONT ALIANCA BRAZIL 32984 1994 1353 36 GAS MORES 7598 1994 427 29 Other TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS CONT SINOKOR MASAN 333 1983 2517 449 Asis Spore CONT GOLDEN WING 1285 1984 4434 449 Asis Spore CONT GOLDEN EXPRESS 15362 1986 4566 449 Asis Spore TANK KAMARI 133811 1987 19395 392 Asis Vietnam
USD/ton USD/ton 16 H I S T O R I C A L B U N K E R P R I C E S 8 7 6 5 4 3 2 1 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 Jul-14 573 857 621 979 585 95
$/Barrel USD-EUR USD-JPY 17 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 1.5433.7915.577.657.597.5529 CAD 1.841 1 1.457.1622 1.1977 1.874 1.179 EUR 1.2636.6865 1.7291.8221.7464.6986 JPY 173.334 94.1737 137.182 1 112.77 12.385 95.8342 CHF 1.5372.8352 1.2166.8869 1.98.85 USD 1.693.9198 1.3399.9768 1.115 1.9361 AUD 1.89.9828 1.4316.1437 1.1769 1.685 1 * 31/7/214 values
18 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.28.28 5625.1.26 Diana Shipping Inc. DSX 11.21 11.56-3 11.63 8.12 Dryships Inc. DRYS 9.77 1.86-1 13.93 8.83 Dynagas LNG Partners LP DLNG 2.92 3.22-9.3 5. 1.87 Eagle Bulk Shipping Inc. EGLE 23.63 24.95-5.3 25.5 16.75 Euroseas Ltd. ESEA 1.79 3.11-42.4 8.75 1.66 Freeseas Inc. FREE.49.64-23.7 4.64.42 Genco Shipping&Trading GNKOQ.78.88-11.4 4.98.68 Costamare Inc. CMRE 23.9 23.42 2 24.94 15.9 Goldenport Holdings Inc. GPRT 35. 36.5-2.9 51. 292.5 Navios Maritime Holdings NM 8.2 9.93-17.4 12.12 5.51 GasLog Ltd. GLOG 26.4 31.65-16.6 32.44 12.99 Paragon Shipping Inc. PRGN 5.6 5.88-13.9 9.4 3.9 Safe Bulkers Inc. SB 7.39 9.32-2.7 11.48 4.78 Star Bulk Carriers Corp. SBLK 1.86 12.95-16.1 15.88 6.5 Stealthgas Inc. GASS 1.72 11.28-5 13. 5.34 TEN Inc. TNP 7.15 6.69 6.9 8.48 4.52 TOP Ships Inc. TOPS 1.93 2.17-11.1 2.51 1.75 Box Ships Inc. TEU 1.4 1.5-6.7 4.66 1.4 Diana Containerships Inc. DCIX 2.44 2.54-3.9 4.52 2.38 Danaos Corporation DAC 5.9 5.98-1.3 7.75 3.67 Aegean Marine Petroleum ANW 9.63 1.3-4 12.72 8.4 * 3/7/214 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,