WEEKLY SHIPPING MARKET REPORT

WEEKLY SHIPPING MARKET REPORT WEEK 3-15 th January to 22 nd January 2013 - 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 India: Wheat exports set to top 9.5 mt this financial year India's wheat exports are poised to rise to a record 9.5 million tonne in the current fiscal year as the government is keen to ship out 5 million tonne from official stocks to make space for the bumper harvest. Top officials said private firms would also be allowed for the first time to draw from government stocks to speed up exports as official agencies need to quickly make arrangements for the new harvest and official procurement. With adverse weather hitting output in major producing nations, exporters expect a good price in the international market. The proposal may come up in cabinet agenda on Thursday. "We need to make room for fresh harvest. We think we can export another 5 million tonne of wheat from the government stock," Food Minister K V Thomas told ET. Currently, wheat from the stocks of Food Corporation of India can be sold only by state-run firms such as MMTC, STC and PEC. "We are working on a mechanism for allowing private players to ship wheat along with PSUs. The process will be transparent so that there is least financial burden on the government," he said. Wheat exports set to top 9.5 mt this financial year The country is likely to get yet another bumper crop this year due to favourable weather conditions such as the recent rains in northern India and cold weather since the beginning of this month. The government expects the output to beat last year's record. "If such weather conditions continue, we expect to surpass last year's output of 93 million tonne," said agriculture secretary Ashish Bahuguna. The demand for Indian wheat has gone up amid a fall in wheat production across Australia and Russia. The government has finalised tender for exporting 2.305 million tonne of wheat as against the target of 4.5 million tonne. Of which, around 1.5 million tonne have already been shipped out. Now with the proposal of government opening up options for private players to sell government stock, wheat trading houses are expecting good export numbers. "We are waiting for the government to open the export for private traders. There is a huge stock in the country and we are expecting again a bumper crop of 100 million tonne," said Anil Monga, managing director, Emmsons International Ltd. According to industry sources, contracts for the new crop for April-May shipment were being signed at $300-$330 a tonne. The current demand for Indian wheat was largely coming from Bangladesh, South Korea, the Middle East and African countries. The government has been able to export the grain at an average price of $300 a tonne. "Indian wheat is currently in huge demand globally. We should take full advantage of the situation and export as much as we can," says Pravin Dongre, president, Indian Pulses and Grains Association. According to agency reports, Chicago wheat gained 5% last week, recording the biggest weekly gain since July as the worsening condition of the US winter crop threatened to squeeze global supplies that have been affected by an adverse weather. (Economic Times) Australia's iron ore belt faces new cyclone threat A tropical low off the coast of Western Australian may develop into a cyclone by Wednesday as it moves to the west southwest off the Pilbara coastline, the heart of the country's iron ore mining industry. A cyclone in the same area 10 days ago shut ports handling a fifth of the world's globally traded iron ore and cut supplies of natural gas and oil. If the storm reaches cyclone intensity then gales with wind gusts of up to 100 kph (60 mph) could develop between Pardoo and Dampier on Wednesday morning, according to the Australian Bureau of Meteorology. Rio Tinto uses the port at Dampier to ship the bulk of its iron ore to overseas customers. The smaller nearby port of Cape Lambert is also utilised. Last year, Rio Tinto shipped 253 million tonnes of iron ore in total. The Australian Bureau of Meteorology said that as of 0600 GMT, the low was located near the tourist town of Broome, about 500 km (300 miles) north of Port Hedland, one of the world's largest export ports in tonnage terms. Port Hedland is used by BHP Billiton, Fortescue Metals Group and Atlas Iron to ship ore. At this stage if a cyclone forms it will not occur until the low has moved some 200 km (125 miles) south of Port Hedland, based on current weather forecasts. Most of the iron ore is contracted by Chinese steel mills, with Japanese and South Korean mills also big buyers. Almost all of Australia's iron ore is mined in the far west, a sparselypopulated area four times the size of Texas and serviced by only a handful of ports. Before the last cyclone, Woodside Petroleum, Apache energy and BHP disconnected oil production vessels from offshore fields that contribute about a third of Australia's oil production of 390,000 barrels per day.. Operations resumed once the storm passed. There are on average around seven cyclones in Western Australia between November and April. Iron ore with 62 percent iron content, the industry benchmark, slipped 0.2 percent to $145.10 a tonne on Friday, the lowest since Jan. 2, according to data provider Steel Index. But tight iron ore supplies, partly due to weather risks in Australia and a likely spike in China's crude steel output to tap into a strong construction season in March, should support prices, said bulk-commodity sales executive Melinda Moore at Standard Bank. (Reuters) China's end-dec commercial crude stocks fall 3.6% on month: report China's commercial crude oil stocks fell 3.6% at the end of December from a month earlier, according to China Petroleum Stockpile Statistics compiled by state news agency Xinhua and released on Monday. The fall in stocks was due to record high crude runs, Xinhua said. No absolute volumes were provided in the report. China's National Bureau of Statistics had reported January 18 that December 2012 crude runs had risen 8.4% year on year to 10.2 million b/d. At the end of November last year, commercial crude stocks had fallen 1% month on month. According to the International Energy Agency's latest Oil Market Report released January 18, the November dip in China's commercial crude oil stocks reported by Xinhua corresponded to a drop of 2.2 million barrels. This suggests that the 3.6% dip in December puts total commercial crude oil stocks at the end of that month at 210 million barrels. Meanwhile, China's oil product stocks at the end of December rose 4.2% month on month, according to Xinhua's data. Gasoline inventories climbed 8.5%, gasoil stocks edged up 1.9% while kerosene stocks fell 4% from a month earlier. At the end of November, oil product stocks had risen 4.1% month on month, gasoline inventories 7%, kerosene stocks 3.4% and gasoil stocks 1.9% from a month earlier. (Platts) 1

Sale & Purchase Market Slowing down During the past week the S&P activity seemed to be slowing down with many owners choosing patience in view of the forthcoming Chinese holidays during February. The seasonality due to Chinese festivities continues to make many skeptical about their S&P activities, however this could be creating opportunities. Although we still see many ships being circulated for sale at attractive prices this makes many believe that there can be a further correction, with relation to present Freight maket and Global financial crises as there do not seem to be signs to convince us otherwise. Shiptrade s enquiry Index has increased slightly. Interest for modern tonnages starts to become more active, however late 90ies built vessels continue to attract buying interest because of their prices. Although Handies and Handymaxes are continuing to grasp buyers interest, Panamaxes are also quite attractive and that is transformed into requests for such ships. Modern Handies, Supramaxes and Panamaxes are of specific interest if we take in to account the last reported sales for such tonnages and the overall activity. The wet sector continues to show firm interest with enquiries for more modern and larger tonnages showing a small increase in figures.. NEWBUILDINGS In the newbuilding market, we have seen 11 vessels reported to have been contracted. 2 Bulk Carriers (Ultramax) 4 Tankers (VLCC) 5 Containers (14.000 TEU) DEMOLITION The Demolition market has been firming within the Subcontinent and competition between India and Bangladesh being hard. Prices near or exceeding USD 430 mark have been seen and even the Chinese have touched the 400 level, however no one knows where this will end. Pakistan is as always looking for large quality tonnages trying to compete with its Subcontinent rivals. Larger ships of every type are being taken for demolition, however the higher the price the higher the risk of renegotiations, something that we hear is happening lately. These figures create an opportunity for owners who are considering taking their vintage tonnages for demolition, something that could assist the market in breathing further over the next few months. 2

Sale & Purchase Indicative Market Values ( 5 yrs old / Mill $ ) Bulk Carriers Week 3 Week 2 Change % Capesize 27 27 0.00 Panamax 19 19 0.00 Supramax 19 19 0.00 Handysize 15 15 0.00 Tankers VLCC 56 56 0.00 Suezmax 40 40 0.00 Aframax 24 24 0.00 Panamax 25 25 0,00 MR 23 23 0.00 Weekly Purchase Enquiries 400 350 300 250 200 150 100 50 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 SHIPTRADE P/E WEEKLY INDEX 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 1-7/8/2012 8-14/8/2012 15-21/8/2012 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 KOREA CHINA SPORE KCS GREECE OTHER SUM 17-23/10/12 24-30/10/12 31/10-6/11/12 7-13/11/12 14-20/11/12 21-27/11/12 28/11-4/12/12 5-11/12/12 12-18/12/12 19/12/12-8/1/13 9-15/1/13 16-22/1/13 3

Sale & Purchase Reported Second-hand Sales Bulk Carriers Name Dwt DoB Yard SS Engine Gear Price Buyer Granda M 82.000 2012 Jiangsu, CHN - B&W - 20.000.000 Undisclosed KT Venture 55.866 2007 Kawasaki, JPN 06/2017 B&W 4 X 30 T 18.500.000 Greek Baytur 52.261 2001 Daedong, KOR 06/2016 B&W 4 X 30 T 13.600.000 Indian Normannia 42.648 1997 IHI, JPN 08/2017 Sulzer 4 X 25 T 8.000.000 Undisclosed Cami 42.129 1985 Koyo, JPN 07/2015 Sulzer 4 X 25 T 3.500.000 Undisclosed Ocean Gold 32.317 2006 Kanda, JPN 08/2016 MIT 4 X 30 T Region 14 mill Undisclosed Charlotte Bulker 32.132 2007 Hakodate, JPN 09/2017 MIT 4 X 30 T Low 30 mill Fortune Amaryllis 32.114 2008 Hakodate, JPN 03/2013 MIT 4 X 30 T Enbloc Tsuji resale 30.000 2013 Tsuji, CHN - B&W 4 X 30 T 17.500.000 Undisclosed Greek Enbloc Tsuji resale 30.000 2013 Tsuji, CHN - B&W 4 X 30 T 17.500.000 Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer Meridian Lion 273.769 1997 Hyundai, KOR 03/2017 B&W DH 26.500.000 Russian Nassau Spirit 107.181 1998 Koyo, JPN 03/2013 B&W DH 9.500.000 Greek Shoko Maru 30.952 1998 Minami, JPN 02/2013 MIT DH 8.800.000 Chinese 4

Newbuildings Newbuilding Orders No Type Dwt / Unit Yard Delivery Owner Price 2 BC 61.000 COSCO 2014 Oldendorff 24 mill 4 Tanker 320.000 HHI 2014 Kukje Shipping 100 mill 5 Container 14.000 HHI 2015/2016 Seaspan 120 mill Newbuilding Prices (Mill $) Japanese/ S. Korean Yards Newbuilding Resale Prices Bulk Carriers Capesize 45 36 Panamax 31 26 Supramax 29 25 Handysize 23 20 Tankers VLCC 88 82 Suezmax 56 55 Aframax 45 38 Panamax 40 36 MR 32 31 Newbuilding Resale Prices Bulk Carriers (2008 Today) Tankers (2008 Today) 5

Demolitions Demolition Sales Vessel Type Built Dwt Ldt Buyer Country Price Rubin Crane BC 1994 154.310 19.761 India 452 As is North China with 1.700 T bunkers ROB Sadent BC 1986 33.780 8.143 India 417 Saudi Abha RORO 1983 42.600 18.665 India 475 With approx. 250 T bunkers ROB Asian Spirit PCC 1988 21.506 15.578 China 410 Demolition Prices ($ / Ldt) Bangladesh China India Pakistan Dry 430 395 425 425 Wet 440 405 445 445 Demolition Prices Bulk Carriers (2008 Today) Tankers (2008 Today) 6

Dry Bulk - Chartering In Brief: Mainly capes driven the index upwards Capes: Cape market notably increased In this volatile market, the week started in low volume catching up pace towards the end of the week. This upward trend reflected on the BCI ending up at 1605 reported an improvement of 238 points. Improvement for the Atlantic market with the Tubaro/Qingdao route producing fresh requirements yielding TCE of about USD 19,500, notably increased by USD 2,250 compared to last week s levels. As for transatlantic round trips were fixed at around USD 10,750 surged by USD 4,000. Regarding fronthaul ex Cont/Med were closed at around mid USD 20 s. Same positive feeling for Pacific basin with movement on cargoes following the cyclone which hit West Australia last week. Round trips were mostly fixed at around USD 7,750 rose by USD 1,000. Period levels at around USD 11,000 for one year. Panamax: Slow movement in both basins. BPI index at the beginning of the week was at 774 points to finally close down by 34 points at 740 on Friday. After a positive trend in Atlantic market which followed last week s ending, there was a slim downfall at orders and rates at the beginning of this week. Transatlantic round voyages were reported fixed at USD 6500-7000 levels, though there were a couple of fixtures at USD 7250 daily ex USG to Med. Fronthaul fixtures ex ECSA were seen at USD around 14000 plus a ballast bonus of 400k whilst fronthaul trips ex Baltic were mostly seen covered at a tick higher rate around USD 14500. In the Pacific region rates were seen somewhat drifting especially for spot positions. Nopac round trips were reported fixing at USD around 6000 on aps basis with a ballast bonus of USD 300k. Aussie round trips, especially west coast, were reported fixing at about same rates. Indonesian rounds were reported at USD 5000 also on aps basis plus a ballast bonus of USD around 80k redelivery Singapore-Japan range. ECSA orders were starting to show up in the market more aggressively and attract ballasters from the Pacific at rates of USD around 6500 basis delivery passing Singapore. As far as short period market is concerned, after a couple of weeks of 12/24 months fixtures reported, we saw some owners fixing their vessels at USD 7000 daily for 4/7 months. Supramax: Atlantic Strong Pacific Stable Another positive week for the Atlantic market with ECSA leading the way on high volumes, taking advantage the shortage of prompt loaders in the area. Supras are being fixed at USD low teens + USD 250k BB for trips to FEast, whereas from the USG to FEast are expected to get high teens, and for trips within the Atlantic mid to high teens. On the other hand, low activity has been observed at the Continent with owners accepting low rates to take advantage of the reposition. The Pacific market had another inactive week with Indo coal being fixed at around USD 8,500 9,000 passing Spore redelivery ECIndia and around USD 8,000 redelivery China. In addition, there is strong tendency from charterers side for aps deliveries. NOPAC rounds are still not very active but some requirements were seen and ratewise talking around USD 6,500 + 350/400k BB. Some interest from charterers has been observed for short period and rates are around USD 8,500 9,000 depending on size and delivery point. Handysize: Minor improvement This was the first week after many that the index kept raising until the closing. In spite that fact, the physical market improved marginally and only in specific areas. ECSA produced rates of USD 12/13,000 basis aps Recalada both for coastal and to Med/Continent direction and mid teens for WCSA. This improved the Transatlantic round at levels of about USD 7,500 per d day. East Med/Black Sea continued to pay low with best fixtures at USD 7/7,500 levels basis aps Black Sea to Med direction but only on vessels with very good speed/consumption. Too much tonnage supply and very few orders at this area were reflected at rates like USD 3,500 for South Africa and USD 5,000 for 2/3 lls. Not too much from Continent with rates of USD 3/4,000 to ECSA/USG and only vessels able to trade ice areas could find some rates to make sense. The Pacific market improved just a notch but still giving low rates with Aussie and NOPAC rounds to be done at around USD 6,500. The Far East round trip was paying USD 7,000 per day and 2/3 lls or short period a bit more. There was some period or 2/3 lls activity but numbers ranging USD 6/7,000 per day. 7

Dry Bulk - Chartering Baltic Indices Dry Market (*Friday s closing values) Index Week 3 Week 2 Change (%) BDI 837 760 10,13 BCI 1605 1367 17,41 BPI 740 772-4,15 BSI 730 745-2,01 BHSI 470 448 4,91 T/C Rates (1 yr - $/day) Type Size Week 3 Week 2 Change (%) Capesize 160 / 175,000 11000 10250 7,32 Panamax 72 / 76,000 7000 6500 7,69 Supramax 52 / 57,000 9000 9000 0,00 Handysize 30 / 35,000 6750 6500 3,85 Average Spot Rates Type Size Route Week 3 Week 2 Change % Far East ATL -7000-8750 - Capesize 160 / 175,000 Cont/Med Far East 24500 20250 20,99 Far East RV 7750 6750 14,81 TransAtlantic RV 10750 6750 59,26 Far East ATL -1400-1350 - Panamax 72 / 76,000 ATL / Far East 14000 13500 3,70 Pacific RV 5500 5500 0,00 TransAtlantic RV 6500 6500 0,00 Far East ATL 4600 4900-6,12 Supramax 52 / 57,000 ATL / Far East 11500 10900 5,50 Pacific RV 6500 7000-7,14 TransAtlantic RV 7800 6900 13,04 Far East ATL 6500 6000 8,33 Handysize 30 / 35,000 ATL / Far East 9250 9000 2,78 Pacific RV 7000 6000 16,67 TransAtlantic RV 7500 6000 25,00 8

Dry Bulk - Chartering ANNUAL NOVEMBER 2012 JANUARY 2013 9

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 $0,00 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 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 49 10

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 49 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 49 S2 FE R/V S3 FE / CON S7 ECI / CHI AVG ALL TC 11

Tanker - Chartering VLCC: The VLCC Maket was slower with rates from Middle East to Far east losing 1.9 points to average ws41.5 Rates from Far East to USG lost another 1.6 points to average 41.5 points. In the Atlantic basin the WAFR-FarEast route eased 2.5 points to ws40.3 Suezmax: The Atlantic Suezmax market continued the negative trend with the WAFR-USAC route 5 points, conmcluding at ws57.5 points, BSEA-MED lost 7.5 points to settle at ws60. Aframax: The Caribbean market saw an oversupply of units however the CBS-USG route remained steady at ws85 levels. The European market also saw some negative pressure with the NSEA-UKC route losing 2.5 points and the MED-MED route lost 2.5 points also to conclude at ws77.5. Panamax: The Caribbean Panamax market saw some positive signs and the CBS-USAC route gained 5 points and concluded at ws110.the European market saw some easing with the CONT-USG route losing 5 points, concluding at ws97.5 Products: Although the Caribbean market showed some activity last week the USG-TA route closed around ws100. The europena market was also under negative pressure with the CONT-USAC route lost another 10points to conclude ws160. Baltic Indices Wet Market (*Friday s closing values) Index Week 3 Week 2 Change (%) BCTI 630 715-11,89 BDTI 690 641 7,64 T/C Rates (1 yr - $/day) Type Size Week 3 Week 2 Change (%) VLCC 300.000 20.250 20.250 0,00 Suezmax 150.000 16.500 16.250 1,54 Aframax 105.000 13.750 13.500 1,85 Panamax 70.000 13.500 13.250 1,89 MR 47.000 13.500 12.750 5,88 12

Tanker - Chartering Crude Tanker Average Spot Rates Type Size (Dwt) Route Week 3 WS Week 2 WS Change % 280,000 AG USG 23 24.5-6,12 VLCC 260,000 W.AFR USG 43.5 43.5 0,00 260,000 AG East / Japan 40 42-4,76 Suezmax 135,000 B.Sea Med 60 67.5-11,11 130,000 WAF USAC 57.5 62.5-8,00 80,000 Med Med 77.5 80-3,13 Aframax 80,000 N. Sea UKC 82.5 85-2,94 80,000 AG East 85 85 0,00 70,000 Caribs USG 85 85 0,00 Product Tanker Average Spot Rates Type Size (Dwt) Route Week 3 WS Week 2 WS Change % 75,000 AG Japan 82 88-6,82 Clean 55,000 AG Japan 107.5 115-6,52 38,000 Caribs USAC 135 130 3,85 37,000 Cont TA 160 170-5,88 Dirty 55,000 Cont TA 97.5 102.5-4,88 50,000 Caribs USAC 110 105 4,76 13

Tanker - Chartering VLCC Trading Routes 2011 / 12 Suezmax Trading Routes 2011 / 12 Aframax Trading Routes 2011 / 12 14

Tanker - Chartering Clean Trading Routes 2011 / 12 Dirty Trading Routes 2011 / 12 15

Financial Market Data Shipping Stocks Dry Bulk Company Stock Exchange Week 3 Week 2 Change % Baltic Trading Ltd (BALT) NYSE 3,44 3,38 1,78 Diana Shipping Inc (DSX) NASDAQ 8,46 8,47-0,12 Dryships Inc (DRYS) NASDAQ 2,13 2,12 0,47 Euroseas Ltd (ESEA) NASDAQ 1,03 1,05-1,90 Excel Maritime Carriers (EXM) NYSE 0,57 0,73-21,92 Eagle Bulk Shipping Inc (EGLE) NASDAQ 2,25 2,26-0,44 Freeseas Inc (FREESE) NASDAQ 0,22 0,34-35,29 Genco Shipping (GNK) NYSE 4,02 3,88 3,61 Navios Maritime (NM) NYSE 3,70 3,72-0,54 Navios Maritime PTN (NMM) NYSE 14,30 14,10 1,42 Paragon Shipping Inc (PRGN) NASDAQ 3,94 3,93 0,25 Star Bulk Carriers Corp (SBLK) NASDAQ 7,20 7,39-2,57 Seanergy Maritime Holdings Corp (SHIP) NASDAQ 1,44 1,49-3,36 Safe Bulkers Inc (SB) NYSE 3,77 4,12-8,50 Golden Ocean (GOGL) Oslo Bors (NOK) 5,19 5,02 3,93 Tankers Capital Product Partners LP (CPLP) NASDAQ 8,03 7,69 4,42 TOP Ships Inc (TOPS) NASDAQ 1,12 1,30-13,85 Tsakos Energy Navigation (TNP) NYSE 4,08 4,11-0,73 Other Aegean Maritime Petrol (ANW) NYSE 6,32 6,31 0,16 Danaos Corporation (DAC) NYSE 3,51 3,44 2,03 StealthGas Inc (GASS) NASDAQ 9,90 9,05 9,39 Rio Tinto (RIO) NYSE 55,85 55,65 0,36 Vale (VALE) NYSE 20,02 20,32-1,48 ADM Archer Daniels Midland (ADM) NYSE 28,64 28,34 1,06 BHP Billiton (BHP) NYSE 76,87 76,66 0,27 Commodities Commodity Week 3 Week 2 Change (%) Brent Crude (BZ) 111,63 111,43 0,18 Natural Gas (NG) 3,54 3,39 4,42 Gold (GC) 1692 1682 0,59 Copper 368,50 362,60 1,63 Wheat (W) 341,25 333,81 2,23 16

Financial Market Data / Bunker Prices / Port Congestion Currencies Week 3 Week 2 Change (%) EUR / USD 1,33 1,33 0,00 USD / JPY 90,10 89,18 1,03 USD / KRW 1058 1056 0,19 USD / NOK 5,60 5,53 1,27 Bunker Prices IFO 380 IFO 180 MGO Piraeus 635 670 990 Fujairah 620 645 990 Singapore 625 635 932 Rotterdam 614 638 955 Houston 628 710 1015 Port Congestion* Port No of Vessels China Rizhao 19 Lianyungang 34 Qingdao 86 Zhanjiang 38 Yantai 74 India Chennai 8 Haldia 53 New Mangalore 7 Kakinada 45 Krishnapatnam 65 Mormugao 49 Kandla 45 Mundra 21 Paradip 13 Vizag 64 South America River Plate 211 Paranagua 44 Praia Mole 15 * 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 3 of year 2013. 17