WEEKLY MARKET REPORT April 1st, 2011 / Week 13 Whilst the market last week showed some resilience this week it has turned negative again, mainly driven downwards by the panamax and the supramax as the BPI and BSI lost 7.36% and 5.74% respectively. For sure Japan will need restructuring and this will mean increased imports or iron ore and probably logs (prime rarely from Australia and New Zealand) and this should provide some market support. Also support should come from the needed imports of coal as the steel mills will need to replenish their stocks that were lost in the tsunami. Market support may also come in the 2nd half of the year from China since their stockpiles of coal and iron ore are relatively low and they will need to be replenished. However, for the time being what is dictating the market is the over supply of ships which is adding pressure in the rates. Nevertheless, activity in the S&P market remains high with many deals reported. Far Eastern buyers are once again entering the market for older handysize and handymax bulkers (early/mid 80's built). Greek buyers are also increasing their activity for modern vessels. Ceres Hellenic paid region US$ 56 million for the 174,000 dwt capesize resale scheduled for delivery April 2011 from Namura Japan. Cyprus Maritime is the buyer of another capesize, the MV CAPE AZALEA (171,846 dwt / blt 1996 Japan) for US$ 23 million. Finally, listed Globus Maritime purchased MV LOWLANDS PATRASCHE (58,790 dwt / blt 2007 Tsuneishi Cebu) for US$ 30.3 million including t/c at US$ 16,000 per day until January 2015. Tanker sales are dominated by VLCCs with 3 deals involving 2002 built units with leaseback arrangements, whilst Greeks buyers have purchased at a very realistic level the MT LILLEBORG (306,430 dwt / Blt 1993 Japan) at region US$ 24 million. New building activity is dominated by the container ships as more and more owners are trying to secure tonnage in order to place themselves for the anticipated rise in the container trades. The emphasis is for the larger TEU container vessels as operators are expected to have strong demand for these vessels due to economies of scale. On the demolition side activity also remains very high. Bangladesh has yet failed to allow ships to enter for demolition although we are reporting some as-is deals for ships which their buyers hope to demolish in Bangladesh. India is the dominant player taking in most ships. So far this year nearly 4.5 million tonnes of ships have been scrapped and although this is less than the number for the same period last year (it was around 5.8 million tonnes) we expect the pace of demolition to accelerate which we hope will eventually add support to the market. WeberSeas, Weekly Market Report Page 1 of 13
TANKERS FRONT EAGLE 309,064/02 - SAMSUNG - B&W 36,962 - SBT - IGS - COW - DH - SS 10/2011 DD 08/2011 Sold for $67 mill. to U.S. based buyers (DHT Holdings). Sale includes t/c back to sellers for 2 years at $32,300 net per day. EAGLE VIRGINIA 306,999/02 - HYUNDAI - B&W 39,899 - SBT - IGS - COW - DH - SS/DD 02/2012 EAGLE VERMONT 306,999/02 - HYUNDAI - B&W 39,899 - SBT - IGS - COW - DH - SS/DD 09/2012 Sold en bloc for $60 mill. each to U.S. based buyers (Icon Capital). Sale includes lease back to sellers for 7 years. LILLEBORG 306,430/93 - NKK - SUL 35,000 - SBT - IGS - COW - DH - SS 03/2013, DD 04/2011 Sold for $24 mill. to Greek buyers. EAGLE SUBARU 95,675/94 - KOYO MIHARA - SUL 16,601 - COILED - SBT - IGS - COW - DH SS 07/2014, DD 08/2012 EAGLE OTOME 95,663/94 - KOYO MIHARA - SUL 16,601 - COILED - SBT - IGS - COW - DH SS 04/2014, DD 02/2012 Sold en bloc on private terms to U.S. based buyers (Icon Capital). Sale includes lease back to sellers for 7 years. CARIAD 44,999/96 - SPAIN - B&W 11,901 - COATED - COILED - SBT - IGS - DH - SS 03/2016 DD 02/2013 Sold for $11 mill. to undisclosed buyers. HULDER 39,749/88 - ROMANIA - B&W 11,451 - COATED - COILED - SBT - IGS - DB - SS/DD 12/2011 Sold for $6.4 mill. to Chinese buyers. BAKI AKAR 29,998/87 - MINAMI - B&W 9,060 - COATED - COILED - SBT - IGS - COW SS/DD 12/2012 Sold for $3.25 mill. to Indonesian buyers (Waruna). LPG HYUNDAI MIPO 8068 23,300/11 - HYUNDAI - B&W 10,686 - SBT - 34,300 CBM LPG HYUNDAI MIPO 8069 23,300/11 - HYUNDAI - B&W 10,686 - SBT - 34,300 CBM Sold en bloc for $52 mill. each to Swiss buyers (Navigator Gas Management Ltd). GOLDEN FLORENCE 19,706/06 - FUKUOKA - MIT 8,470 - ST.ST. COATING - COILED - SBT - IGS DH - SS/DD 11/2011 Sold for $27 mill. to Japanese buyers. STELLAR ACACIA 12,000/10 - KURUSHIMA - B&W 6,037 - ST.ST. COATING - SBT - DH Sold on subs for $21 mill. to Japanese buyers. GLOBAL VENUS 9,273/95 - HIGAKI - B&W 5,281 - COATED - COILED - SBT - DH - SS 09/2015 DD 11/2013 Sold for $5.5 mill. to undisclosed buyers. RATHROWAN 4,059/91 - NETHERLANDS - WERKSPOOR 2,896 - COILED - SBT - DH (asphalt carrier) Sold for $4 mill. to undisclosed buyers. WeberSeas, Weekly Market Report Page 2 of 13
BULKERS NAMURA 316 174,000/11 (4) - NAMURA - B&W 22,923-9HH Sold for $56 mill. to Greek buyers (Ceres Hellenic Shipping Enterprises Ltd). CAPE AZALEA 171,846/96 - NKK - B&W 20,632-9HH - SS/DD 06/2011. Sold for $23 mill. to Greek buyers (Cyprus Maritime). ABEILLE 82,154/10 - TSUNEISHI ZHOUSAN - B&W 13,202-7HH - SS 07/2015, DD 07/2013 Sold for $42 mill. to Chinese buyers. Sale includes t/c attached till June 2012 at $21,000 per day. ALABANDA 74,044/95 - HASHIHAMA - B&W 12,099-7HH - SS 05/2015, DD 03/2013 Sold for $20.8 mill. to Chinese buyers. LOWLANDS PATRASCHE 58,790/07 - TSUNEISHI CEBU - B&W 11,415-5HH - C 4X30T SS/DD 08/2012 Sold for $30.3 mill. to Greek buyers (Globus Maritime Ltd). Sale includes t/c attached till January 2015 at $16,000 per day. ABG 313 54,000/11 - ABG - B&W 12,889-5HH - C 4X30T ABG 329 32,000/10 - ABG - B&W 10,686-5HH - C 4X30T ABG 330 32,000/11 - ABG - B&W 10,686-5HH - C 4X30T Sold en bloc for $27.98, 21.69 and 21.56 mill. respectively to Singapore based buyers (Global Bulk Carriers). OCEAN ISLAND 46,745/83 - KOREA SB - SUL 10,665-6HH - C 3X20T, 2X15T - SS 11/2013 DD 10/2011 Sold for $6.61 mill. to Chinese buyers. SHEN MING HONG 7 43,214/84 - SANOYAS - SUL 11,259-5HH - C 4X25T - SS 06/2014, DD 06/2012 Sold for $6.2 mill. to Chinese buyers. STAR PROVIDENCE 40,698/85 - NKK - SUL 12,971-5HH - C 4X35T - SS 04/2015, DD 06/2013 (open hatch) Sold for $8.6 mill. to Chinese buyers. SHINAN H1009 34,000/11 - SHINAN - B&W 12,385-5HH - C 4X30T Sold for region $26.2 mill. to undisclosed buyers. SHINYO VOYAGER 33,500/11 - ZHEJIANG - B&W 8,810-5HH - C 4X30.5T Sold for region $23 mill. to undisclosed buyers. PAN VOYAGER 29,433/85 - HYUNDAI - B&W 8,000-6HH - C 5X15T - SS 03/2013, DD 05/2011 Sold for $3.95 mill. to Greek buyers. LAKE MAJA 24,518/96 - KURUSHIMA - MIT 7,199-4HH - C 3X25T - SS 02/2016, DD 01/2014 Sold for $14 mill. to Korean buyers. BELLATRIX ID 22,273/90 - MITSUBISHI - MIT 6,241-4HH - C 4X30T - SS 01/2015, DD 12/2012 Sold for $8.65 mill. to undisclosed buyers. WeberSeas, Weekly Market Report Page 3 of 13
CONTAINERS CMA CGM MAGELLAN 157,254/10 - DAEWOO - SUL 109,998-9HO - 13,344 TEU CMA CGM CORTE REAL 156,898/10 - DAEWOO - SUL 108,877-9HO - 13,344 TEU Sold en bloc for $171 mill. each to Norwegian buyers (Ship Finance International). Sale and leaseback deal for 15 years including purchase option. ESTEBROKER 33,843/99 - GERMANY - B&W 26,934-5HO 10HA - C 3X45T - 2,526 TEU Sold for $24.5 mill. to Greek buyers. MILLENIA TOWER 22,734/90 - KURUSHIMA - B&W 14,398-5HO 17HA - 1,404 TEU RECIFE 22,219/91 - KURUSHIMA - B&W 14,398-5HO 17HA - 1,380 TEU Sold en bloc for $3 mill. each to undisclosed buyers. WESTERDEICH 22,343/94 - GERMANY - SUL 18,110-4HO 8HA - C 3X40T - 1,600 TEU Sold for $12 mill. to undisclosed buyers. RO-RO/PASSENGER FERRY YAKUSHIMA NO. 2 1,183/93 - YAMANISHI - PIELSTICK 13,501-494 PASS - 96 CARS Sold on private terms to undisclosed buyers. REEFERS WEALTH REEFER 7,337/86 - UWAJIMA - B&W 8,348-4HH - D 8X5T - 9,345 CBM - SS/DD 07/2011 ROYAL REEFER 7,337/87 - UWAJIMA - B&W 8,470-4HH - D 8X5T - 9,345 CBM - SS/DD 07/2011 Sold en bloc for $3.5 mill. each to Chinese buyers. FRESH FOR SALE TANKERS SPOTLESS 47,084/91 - HALLA - B&W 10,151 - COATED - COILED - SBT - IGS - COW - DH Vessel will be inspectable in Limassol, Cyprus from 31st March. DELOS 47,067/91 - HALLA - B&W 12,420 - COATED - COILED - SBT - IGS - COW - DH Vessel will be inspectable in Xinrong Yard, China during the last week of April, where she will be passing drydock. FABRIZIA D AMATO 40,081/04 - SLS - B&W 11,641 - COATED - COILED - SBT - IGS - COW - DH Vessel inspectable in Fos, where ETA April 1st. BULK CARRIERS MADDALENA D AMATO 74,710/01 - HUDONG - B&W 15,363-7HH Vessel will bunker in Fujairah on 3rd April. WeberSeas, Weekly Market Report Page 4 of 13
MARITIME QUEEN 73,350/94 - OSHIMA - SUL 12,300-7HH - C 4X30T Vessel will be inspectable in San Ciprian, Spain until 4th April. ROYAL OCEAN 70,677/95 - BRAZIL - SUL 11,300-7HH Vessel will be inspectable in Xinsha, China, where ETA 4th April. NEW CHAMPION 70,296/96 - SANOYAS - SUL 14,841-7HH Vessel will be inspectable in Bayuquan, China, where ETA 14th April. ORIENTAL PRINCESS 14,187/99 - SHIN KOCHI - MIT 6,000-4HH - C 3X25T Vessel will be in Suzaki and Sensaki, Japan from 3rd to 7th April. CONTAINERS HS SMETANA 23,377/06 - GUANGZHOU - B&W 21,509-5HO 8HA - C 2X40T - 1,278 TEU OCEAN PRODUCER 14,367/99 - JIANGNAN - SUL 2 x 32,630-3HO 7HA - 1,733 TEU WeberSeas, Weekly Market Report Page 5 of 13
DEMOLITION DEMOLITION STATISTICS TYPE OF SHIP THIS DATE 2011 THIS DATE 2010 2010 TOTAL 2009 TOTAL ULCC/VLCC 2 9 14 10 SUEZMAX 0 3 10 5 AFRAMAX 4 3 14 12 PANAMAX TANKER 0 3 10 8 CAPE/COMBO (100,000 dwt +) 18 1 15 5 PANAMAX/KAMSARMAX BULKER 11 2 6 21 LOCATION TANKERS BULK CARRIERS CHINA 465 450 INDIA 505 480 BANGLADESH 510 485 PAKISTAN 495 470 DEMOLITION: BANGLADESH M/V OCEAN PARK M/V SLAVIANKA CONT GREEN VALLEY 166,658/86-25,402 LDT - USD 450/LDT - as is S.Korea 25,755/78-6,590 LDT - USD 380/LDT - as is Varna 12,571/95-4,995 LDT - USD 505/LDT INDIA M/V PEMI M/V SVYATOY MIKHAIL RO-RO SKAUGRAN M/V SUN SUMA CONT MSC CHITRA M/T CHAMPION M/V ALFA K M/V THOR TRANSPORTER 61,633/80-11,574 LDT - USD 470/LDT 44,600/78-9,500 LDT - USD 465/LDT 42,424/79-15,967 LDT - USD 480/LDT 38,540/78-10,845 LDT - USD 510/LDT 38,485/80-14,700 LDT - USD 427/LDT 38,084/83-9,948 LDT - USD 495/LDT 33,680/80-10,032 LDT - USD 477/LDT 23,930/86-8,399 LDT - USD 504/LDT WeberSeas, Weekly Market Report Page 6 of 13
M/T PENELOPE (LPG) M/V ELBIA M/V SIAM PROJECT M/T CASTORGAS (LPG) REEF GREEN CHAPECO REEF GREEN ICELAND M/V HIBISCUS ONE REEF FIONA 15,329/96-6,956 LDT - USD 525/LDT 14,100/78-3,840 LDT - USD 385/LDT - as is Cape Town 12,800/82-5,066 LDT - USD 485/LDT 6,920/82-3,985 LDT - USD 540/LDT 6,794/90-4,040 LDT - USD 470/LDT 6,697/93-4,008 LDT - USD 470/LDT 5,672/78-2,474 LDT - USD 483/LDT 5,232/86-2,385 LDT - USD 472/LDT PAKISTAN M/V NAPOLEON 43,576/81-10,974 LDT - USD 470/LDT CHINA M/V CAPE SANTA MILAGRIA 139,816/85-21,447 LDT - USD 465/LDT M/T FLY EAGLE 98,570/92-17,333 LDT - USD 500/LDT (including approximately 1,500 tonnes of bunkers ROB) M/V XIANG HE 1 (including 370 tonnes of bunkers ROB) M/V GLORY NINGBO M/T ANTONIS A M/V XIN HE SHI BA 61,203/80-11,547 LDT - USD 445/LDT 44,750/78-9,230 LDT - USD 432/LDT 39,711/82-9,748 LDT - USD 460/LDT 8,200/88-4,460 LDT - sold on private terms WeberSeas, Weekly Market Report Page 7 of 13
TYPE OF SHIP NEWBUILDING STATISTICS 2011 2012 2013 2014 * TOTAL ORDERBOOK ULCC/VLCC 82 56 36 9 183 SUEZMAX 61 60 22 2 145 AFRAMAX 78 47 18 2 145 PANAMAX 39 15 18 5 77 MR 120 82 34 5 241 10-35,000 DWT 188 75 15 278 CAPESIZE/ MINI CAPE / VLOC 80-100,000 DWT 348 202 68 12 630 257 271 60 19 607 PANAMAX 103 90 33 226 SUPRAMAX / HANDYMAX 451 299 93 843 HANDYSIZE 392 237 84 14 727 * Includes ALL vessels on order NEWBUILDING CONTRACTS No Size Type Yard Delivery Price (mill) Owners Comments 2 157,000 dwt Shuttle tanker Sungdong 2013 $90 Tsakos Group 1 155,900 cbm LNG Daewoo 2013 n/a Maran Gas 1 82,000 cbm VLGC Hyundai HI 2013 $75 SK Shipping switched from VLCC berth 6 13,000 teu Container Samsung 2013 $136 OOIL 2 4,800 teu Container Zhejiang 2014 $57.5 Evalend Shipping 2 4,700 teu Container Sungdong 2013 n/a Tsakos Group 2 3,600 teu Container Sungdong 2013 $50 NSC WeberSeas, Weekly Market Report Page 8 of 13
BALTIC DRY EXCHANGE RATES THIS WEEK LAST WEEK CHANGE CHANGE % Baltic Dry Index 1520 1585-65 -4.10% Baltic Capesize 1792 1805-13 -0.72% Baltic Panamax 1925 2078-153 -7.36% Baltic Supramax 1511 1603-92 -5.74% Baltic Handysize 786 780 6 0.77% 14000 12000 10000 8000 6000 4000 2000 0 4-Jan-05 4-Apr-05 25000 20000 15000 10000 5000 0 4-Jan-05 4-Apr-05 14000 12000 10000 8000 6000 4000 2000 0 18-Jan-05 18-Apr-05 4-Jul-05 4-Oct-05 4-Jan-06 4-Apr-06 4-Jul-06 4-Oct-06 4-Jan-07 4-Apr-07 4-Jul-07 4-Oct-07 4-Jan-08 4-Apr-08 4-Jul-05 4-Oct-05 4-Jan-06 4-Apr-06 4-Jul-06 4-Oct-06 4-Jan-07 4-Apr-07 4-Jul-07 4-Oct-07 4-Jan-08 4-Apr-08 18-Jul-05 18-Oct-05 18-Jan-06 18-Apr-06 18-Jul-06 18-Oct-06 18-Jan-07 18-Apr-07 18-Jul-07 18-Oct-07 18-Jan-08 4-Jul-08 4-Oct-08 4-Jan-09 4-Apr-09 4-Jul-09 4-Oct-09 4-Jan-10 4-Apr-10 4-Jul-10 4-Oct-10 4-Jan-11 WeberSeas, Weekly Market Report Page 9 of 13 BCI BDI 18-Apr-08 18-Jul-08 18-Oct-08 BPI 4-Jul-08 4-Oct-08 4-Jan-09 4-Apr-09 4-Jul-09 4-Oct-09 4-Jan-10 4-Apr-10 4-Jul-10 4-Oct-10 4-Jan-11 18-Jan-09 18-Apr-09 18-Jul-09 18-Oct-09 18-Jan-10 18-Apr-10 18-Jul-10 18-Oct-10 18-Jan-11
BALTIC WET EXCHANGE RATES THIS WEEK LAST WEEK CHANGE CHANGE % Baltic Clean Tanker 836 830 6 0.72% Baltic Dirty Tanker 927 954-27 -2.83% 2,500 2,000 1,500 1,000 500 0 2,500 2,000 1,500 1,000 4-Jan-05 8-Mar-05 13-May-05 500 0 10-Jan-05 14-Mar-05 19-May-05 18-Jul-05 20-Sep-05 22-Nov-05 1-Feb-06 5-Apr-06 13-Jun-06 15-Aug-06 18-Oct-06 20-Dec-06 1-Mar-07 3-May-07 5-Jul-07 7-Sep-07 9-Nov-07 21/01/2008 27-Mar-08 22-Jul-05 26-Sep-05 28-Nov-05 7-Feb-06 11-Apr-06 19-Jun-06 21-Aug-06 24-Oct-06 3-Jan-07 7-Mar-07 9-May-07 11-Jul-07 13-Sep-07 15-Nov-07 25/01/2008 2-Apr-08 2-Jun-08 11-Aug-08 14-Oct-08 BCT I 6-Jun-08 15-Aug-08 20-Oct-08 BDT I 23-Dec-08 4-Mar-09 11-May-09 14-Jul-09 16-Sep-09 18-Nov-09 29-Jan-10 6-Apr-10 10-Jun-10 12-Aug-10 15-Oct-10 17-Dec-10 28-Feb-11 6-Jan-09 10-Mar-09 15-May-09 20-Jul-09 22-Sep-09 24-Nov-09 4-Feb-10 12-Apr-10 16-Jun-10 18-Aug-10 21-Oct-10 23-Dec-10 4-Mar-11 WeberSeas, Weekly Market Report Page 10 of 13
MAJOR CAPITAL MARKETS INDEX THIS WEEK* LAST WEEK* CHANGE CHANGE % 52 WEEKS HIGH 52 WEEKS LOW DOW JONES 12,350.61 12,086.02 264.59 2.19% 12,423.00 9,596.04 NASDAQ 2,781.07 2,736.42 44.65 1.63% 2,840.51 2,061.14 AIM 901.40 898.80 2.60 0.29% 968.30 648.50 NIKKEI 9,755.10 9,435.01 320.09 3.39% 11,408.20 8,605.15 NAME SYMBOL PUBLIC COMPANIES DRY-CARGO SECTOR THIS WEEK* LAST WEEK* CHANGE CHANGE % 52 WEEK HIGH 52 WEEK LOW DIANA DSX 11.84 12.03-0.19-1.58% 16.13 10.75 DRYSHIPS DRYS 4.95 4.78 0.17 3.56% 6.82 3.28 EAGLE BULK EGLE 3.72 3.85-0.13-3.38% 5.97 3.62 EXCEL MARITIME EXM 4.29 4.44-0.15-3.38% 7.50 4.04 GENCO GNK 10.77 11.08-0.31-2.80% 24.52 10.69 GOLDENPORT HOLDINGS GPRT.L 112.00 111.63 0.37 0.33% 140.00 100.00 NAVIOS HOLDINGS NM 5.70 5.66 0.04 0.71% 7.55 4.38 NAME SYMBOL TANKER/ENERGY SECTOR THIS WEEK* LAST WEEK* CHANGE CHANGE % 52 WEEK HIGH 52 WEEK LOW CAPITAL PRODUCT PARTNERS CPLP 10.61 10.02 0.59 5.89% 10.81 5.31 GENERAL MARITIME GMR 2.05 2.03 0.02 0.99% 8.82 1.75 OMEGA NAVIGATION ONAV 1.00 1.05-0.05-4.76% 3.05 1.00 STEALTHGAS GASS 6.29 6.19 0.10 1.62% 8.80 3.93 TEN TNP 10.98 10.81 0.17 1.57% 16.87 8.96 CONTAINER SECTOR NAME SYMBOL 52 52 THIS LAST CHANGE CHANGE WEEK WEEK WEEK* WEEK* % HIGH LOW DANAOS DAC 6.78 5.12 1.66 32.42% 6.78 3.50 * Prices reflect Thursday s closing values. Prices in US$ except for Goldenport Holdings which is in GBP. WeberSeas, Weekly Market Report Page 11 of 13
RATES OF EXCHANGE THIS WEEK LAST WEEK CHANGE CHANGE % Euro / $ 1.4148 1.4129 0.0019 0.13% Sterling / $ 1.6052 1.6083-0.0031-0.19% $ / Yen 83.695 81.125 2.570 3.17% $ / Nok 5.5298 5.5830-0.0532-0.95% $ / Won 1,092.00 1,111.90-19.90-1.79% Brent Crude 117.24 115.79 1.45 1.25% LIBOR (3-month) 0.31% 0.31% 0 0.00% ESTIMATED VALUES* TANKERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS VLCC $110.0m $82.0m $63.0m (DH) $20.0m Suezmax $70.0m $60.0m $43.0m (DH) $12.5m Aframax $50.0m $43.0m $34.5m (DH) $9.0m Panamax $45.0m $33.0m $20.0m (DH) $7.0m Product $39.0m $25.0m $17.0m (DH) $4.5m BULK CARRIERS PROMPT RESALE 5 YEARS 10 YEARS 20 YEARS Capesize $62.0m $50.0m $38.0m $20.0m Panamax/Kamsarmax $41.0m $35.0m $29.0m $16.0m Supramax/Handymax $33.0m $31.0m $23.0m $13.0m * The above values are based and adjusted according only to recent reported sales and are subject to weekly changes. TANKER T/C RATES* 1 YR 3 YRS 5 YRS VLCC (300,000 dwt) 28,000/D 33,000/D 36,000/D SUEZMAX (150,000 dwt) 21,000/D 25,000/D 27,000/D AFRAMAX (110,00 dwt) 15,500/D 17,750/D 20,500/D PANAMAX (72,000 dwt) 14,500/D 16,000/D 16,750/D MR (45-50,000 dwt) 13,000/D 14,500/D 14,750/D * The above figures are representative rates for modern tankers only. BUNKER PRICES FUEL GRADES ROTTERDAM FUJAIRAH PIRAEUS SINGAPORE 380cst: $621.50 $651.50 $626.00 $647.50 180cst: $646.00 $684.00 $661.50 $661.50 MGO: $987.50 $990.00 $988.50 $987.50 WeberSeas, Weekly Market Report Page 12 of 13
WEBERSEAS CONTACTS SALE & PURCHASE MOBILE PHONE NUMBER Bobby Mitropoulos 6936-530005 Tom Protonotarios 6936-530006 Nicholas Sfinias 6944-343488 Spyros Karamassis 6945-776757 TANKER CHARTERING Basil Mavroleon 6932-644983 Lefteris Mystriotis 6946-762010 Dionysios Mitsotakis 6936-800320 George Karalis 6948-753725 TANKER OPERATIONS Kimon Polikratis 6932-300590 ADMINISTRATION Yannis Mitropoulos 6936-530007 Urania Savvaki 6934-257746 Very Truly Yours, W E B E R S E A S (H E L L A S) S.A. The information contained in this report has been obtained from various market sources. WEBERSEAS (HELLAS) S.A. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. WSH will not be held responsible for any action or failure to take action upon reliance on information contained in this report. 2011 WEBERSEAS (HELLAS) S.A. All Rights Reserved WeberSeas, Weekly Market Report Page 13 of 13