WEEKLY SHIPPING MARKET REPORT WEEK 16

WEEKLY SHIPPING MARKET REPORT WEEK 16 Orion have sold their two, Shinyo Challenger 185/2002 Mitsui, Japan with DD 10/2020 to Chinese buyers at levels USD 12 mill & Shinyo Endeavour 171/2002 Sasebo, Japan with DD 04/2020 to Clients of Seacon at levels USD 11 mill. Diana Shipping have committed their Panamax Erato 74/2004 Hudong Zhonghua, China with SS/DD 08/2019 to Chinese buyers for USD 7 mill. Please note that the two-years-younger Silver Dragon 75/2006 built in the same yard, was sold last week for a price of USD 8,3 mill to Greek buyers. Nisshin Shipping have committed their Ultramax Western Santos 64/2014 Jiangsu Hantong, China with DD 02/2022 (SS/DD recently passed), BWTS fitted with long delivery and cancelling date by the end of the year, to Clients of Thai Thoresen at a price of USD 18,8 mill. Nautical Bulk have sold their Nautical Amethyst 57/2011 Jiangsu Hantong, China with DD 03/2021 to Far Eastern buyers for USD 10,4 mill. Please note that the one-year-younger Naess Resolute 57/2012 Taizhou Sanfu, China was sold last week to Turkish buyers for USD 10,3 mill. Navios Maritime have committed their Navios Mercator 54/2002 Iwagi, Japan with DD 08/2020 to Chinese buyers at a price of USD 7 mill while Uglands Rederi committed their Fermita 52/2001 Tsuneishi Cebu, Philippines with DD 11/2019 at levels USD 6,6 mill. 3.000 2.500 2.000 1.500 1.000 500 0 Baltic Indices B.D.I B.C.I B.P.I. B.S.I. B.H.S.I. INDEX 18-Apr 12-Apr ± (%) BDI 790 726 8,82% BCI 490 418 17,22% BPI 1.162 1.073 8,29% BSI 732 711 2,95% BHSI 390 403-3,23% Maran have sold their Suezmax Maran Capella 160/1998 Daewoo, Korea with DD 09/2019 to clients of Khor al Zubair for a price of USD 11,5 mill to be used as storage. Remind you that the two-year-younger built in the same yard Eurospirit 160/2000 was sold last month to Qatari buyers at levels USD 13,9 mill. 1.300 1.200 1.100 1.000 900 800 700 600 500 400 Target Marine have sold their Aframax Camelia 112/2004 Hyundai Samho, Korea with DD 03/2022 (SS/DD recently passed) to Indonesian buyers Soechi Lines for a price of USD 14,3 mill. Remind you that in March we saw the sale of Gardenia 112/2003 also built in Hyundai Samho, Korea to Indonesian buyers at a price of USD 13,2 mill. Sovcomflot have committed their MR Anichkov Bridge 48/2003 Hyundai Samho, Korea with SS/DD recently passed to Taiwanese buyers for USD 10,5-10,8 mill. Note that the one-year-younger sister vessel Okhta Bridge 48/2004 with SS/DD 06/2019 was sold to UAE based buyers at levels high USD 9 mill. BDTI BCTI INDEX 17-Apr 12-Apr ± (%) BDTI 652 639 2,03% BCTI 584 586-0,34% WEEKLY SHIPPING MARKET REPORT - pg. 1

$/day $/day $/day $/day DRY BULK COMMENTARY Iron ore rates on the West Australia / China route continued throughout Week 16 at the level of low usd 5,00 s fio. A number of round trips on the same route were reported around usd 6,000 pd levels. Usd 15,000 pd on for 9/12 months basis delivery in the Pacific. Kamsarmax / Panamax 21.000 18.000 15.000 12.000 9.000 6.000 3.000 North Pacific rounds ranged at the usd 8,000 pd. A number of Indonesian trips into China reported around usd 7,000/8,000 pd levels. A number of Indonesian and Australian trips into India were reported fixed at the levels of usd 8,000/9,000 pd. South African trip into China at the level of usd 12,800 pd with chrome ore. Continental trip into Mediterranean via Murmansk was reported at the usd 7,500 pd. Transatlantic round voyage was reported at the usd 11,000 pd. South American trips into Continent with grains were reported at the levels of usd 15,000 pd and into China were reported at the levels of usd 14,000/15,000 pd plus ballast bonus at the usd 400K/550K. Usd 11,750 pd on a Kamsarmax for 6/8 months basis delivery in the Pacific. 15.000 13.000 11.000 9.000 7.000 5.000 3.000 Panamax Ultramax / Indonesian trips into China at the level of usd 9,000/10,000 pd without any ballast bonus. North Pacific trip into China was reported at the level of usd 8,000 pd with soya bean. South African trips into China at the level of usd 10,000/11,000 pd plus 100K/175K ballast bonus. Continental trip into Turkey with scrap was reported at the level of usd 11,500 pd. US Gulf Sulphur into Morocco was fixed at the usd 12,100 pd. South American trip into Mediterranean at the level of usd 12,750 pd and into China at the level of usd 13,600 pd plus 360K ballast bonus. No period activity to report here. 14.000 12.000 10.000 8.000 6.000 4.000 Handymax / Handysize A generally quiet week for this segment. Indonesian trip into India was reported at the level of usd 8,000 pd with alumina. A small was fixed at around usd 9,000 pd basis delivery Persian Gulf into West Coast India. Caribbean trip into West Africa with alumina was reported at the level of usd 6,500 pd. No period activity to report here. 10.000 9.000 8.000 7.000 6.000 5.000 4.000 Handysize WEEKLY SHIPPING MARKET REPORT - pg. 2

REPORTED SALES Bulk Carriers Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments Shinyo Challenger Shinyo Endeavour 184.887 2002 Panamax Erato 74.444 2004 Ultramax Western Santos Mitsui Chiba Ichihara, Japan 10/2020 - $ 12m Chinese 170.578 2002 Sasebo, Japan 04/2022 - $ 11m 63.518 2014 Ultramax Star Anna 63.038 2015 Moonray 57.000 2009 Nautical Amethyst Navios Mercator 56.889 2011 Fermita 52.380 2001 V Green Heron Hudong Zhonghua, China Jiangsu Hantong, China Jiangsu Hantong, China Jiangsu Hantong,China Jiangsu New Hantong, China 08/2019 04/2024 01/2020 09/2019 07/2021 53.553 2002 Iwagi, Japan 07/2022 Tsuneishi Cebi, Philippines Clients of Seacon - $ 7m Chinese 4x30T $ 18,8m Clients of Thai Thoresen SS/DD passed, BWTS fitted, long delivery 4x30T $ 18,5m Norwegian On Subs 4x35T $ 9,2m Chinese Old Sale 4x30T $ 10,4m Far Eastern 4x30,5T $ 7m Chinese 12/2021 4x30T $ 6,6m Undisclosed 51.557 2002 Stx, Korea 01/2020 4x30T $ 6,2m Undisclosed Yunga 50.806 2010 Oshima, Japan 06/2020 Handysize New Glory 30.570 2007 Handymax Mare Forum 46.743 2000 Handysize Ratu Tembaga Shanhaiguan, China Kanasashi Toyohasi, Japan 28.554 2004 Imabari, Japan 11/2019 Handysize Dauntless 28.473 2002 Imabari, Japan 02/2022 4x30T Undisclosed Norwegian (R-Bulk) 4x30T $ 7,5m Undisclosed 07/2020 Mitsubishi 4x30T $ 6,25m Undisclosed 4x30,5T $ 5,4m Undisclosed 4x30,5T $ 5,3m Lebanese Internal deal WEEKLY SHIPPING MARKET REPORT - pg. 3 Type Name Dwt YoB Yard SS M/E Price Buyer Comments Suezmax Maran Capella 159.713 1998 Daewoo, Korea 12/2021 $ 11,5m Aframax Camelia 111.928 2004 MR Anichkov Bridge 47.842 2003 Hyundai Samho, Korea Hyundai Mipo, Korea 01/2024 $ 14,3m $ 10,5-10,8m UAE based (Khor al Zubair) Indonesian (Soechi Lines) Taiwanese For storage Ice Class 1A, CPP

DEMOLITION Indicative Demolition Prices Country Price 460 450 460 450 440 440 India 430 430 420 430 420 Bangladesh 445 410 400 410 400 Pakistan 440 390 390 China - India Bangladesh Pakistan India Bangladesh Pakistan Turkey 270 India 440 Bangladesh 455 Pakistan 430 China - 320 300 280 260 240 220 200 180 160 140 320 300 280 260 240 220 200 180 160 140 Turkey 280 China Turkey China Turkey WEEKLY SHIPPING MARKET REPORT - pg. 4 Demolition Sales Type Vessel Dwt YoB Ldt Price Country Comments Tanker Super Zearth 265.253 1995 38.298 393 India Container Oel Transworld 52.196 2000 15.905 480 India Container Orca 2 8.609 1991 7.929 430 Pakistan Container Spring Mas 24.341 1997 7.295 465 Bangladesh Ro-Ro/ Passenger Eden 3.956 1984 6.888 260 Undisclosed Reefer Baltic Prince 10.713 1990 6.245 430 India Container Selat Mas 18.106 1995 5.719 462 Bangladesh Passenger/GC Akbar 8.677 1971 4.076 382 India As Is Khor Fakkan, gas free for man entry, Green recycling Incl. 200T bunkers, 60T propeller, Green recycling Gas Barouda 8.078 1983 3.600 360 India As Is Algeria Reefer Green Music 6.116 1990 3.045 415 India Green recycling

NEWBUILDING Bulk Carriers Units Size Yard Delivery Price Owner Comments 1 82.000 dwt Japan 2021 Undisclosed Japanese (Sanko Steamship) 4 81.200 dwt COSCO Yangzhou, China 2020 $ 27m Chinese (ICBC FL) Tier III 2 80.000 dwt Oshima, Japan 2021 Undisclosed 1 28.000 dwt Fincantieri Bay, USA 2022 Undisclosed 2 4.650 dwt Fujian Southeast, China 2020 Undisclosed Taiwanese (Taiwan Navigation) US based (Interlake Steamship) German (Baltrader Capital) Cement carrier, dual fuelled Units Size Yard Delivery Price Owner Comments 1 174.000 cbm Hyundai Samho, Korea 2022 $ 179m Japanese (NYK) LNG, 20 years T/C to Edison SpA 1 172.600 cbm Zvezda, Russia 2023 Undisclosed Russian (Sovcomflot) LNG 2+2 115.000 dwt SWS, China 2021 $ 44m Greek (Pantheon ) 2+2 7.500 cbm CIMC Sinopacific, China 2021 Undisclosed Norwegian (Avenir LNG) LNG, Ice class 1B, dual fuelled, for bunker sevice WEEKLY SHIPPING MARKET REPORT - pg. 5

Million US$ Million US$ INDICATIVE PRICES Size Age Week 16 Week 15 ± % Size Age Week 16 Week 15 180k Resale 52 52 0,00% VLCC 310k Resale 93 93 0,00% 180k 5 years 31 31 0,00% VLCC 310k 5 years 68 68 0,00% 180k 10 years 24,5 24,5 0,00% VLCC 300k 10 years 45 45 0,00% 170k 15 years 14,5 14,5 0,00% VLCC 300k 15 years 30 30 0,00% Kamsarmax 82k Resale 31,5 31,5 0,00% Suezmax 160k Resale 64 65-1,54% Kamsarmax 82k 5 years 24,5 24,5 0,00% Suezmax 160k 5 years 48 49-2,04% Panamax 76k 10 years 14 14 0,00% Suezmax 150k 10 years 31 33-6,06% Panamax 74k 15 years 9 9 0,00% Suezmax 150k 15 years 20,5 20,5 0,00% Ultramax 63k Resale 28 28 0,00% Aframax 110k Resale 49 49 0,00% Ultramax 61k 5 years 22,5 22,5 0,00% Aframax 110k 5 years 35 35 0,00% 58k 5 years 17 17 0,00% Aframax 105k 5 years 23 23 0,00% 56k 10 years 13,5 13,5 0,00% Aframax 105k 15 years 12,5 12,5 0,00% 52k 15 years 8,5 8,5 0,00% MR 52k Resale 37,5 37,5 0,00% Handysize 38k Resale 24,5 24,5 0,00% MR 51k 5 years 28 28 0,00% Handysize 37k 5 years 17 17 0,00% MR 47k 10 years 17,5 17,5 0,00% Handysize 32k 10 years 11,5 11,5 0,00% MR 45k 15 years 9 9 0,00% Handysize 28k 15 years 7 7 0,00% ± % 60 52 50 Kamsarmax 40 30 20 10 0 31,5 28 31 24,5 24,5 22,5 24,5 17 17 14 13,5 11,5 14,5 9 8,5 Prompt Resale 5 years 10 years 15 years 7 Panamax Ultramax Handysize 100 80 60 40 20 93 64 49 37,5 68 48 35 28 45 31 23 17,5 30 20,5 12,5 9 VLCC Suezmax Aframax MR 0 Prompt Resale 5 years 10 years 15 years WEEKLY SHIPPING MARKET REPORT - pg. 6

$/bbl KEY INDICATORS Currencies Currency 18-Apr 11-Apr ± (%) EUR / USD 1,1230 1,1253-0,20% USD / JPY 111,97 111,66 0,28% USD / KRW 1.137,00 1.139,15-0,19% NOK / USD 0,1174 0,1172 0,17% 1,25 EUR / USD 1,20 1,15 1,10 Commodities Commodity 18-Apr 11-Apr ± (%) Brent Crude (BZ) 71,97 70,83 1,61% WTI Crude Oil (WTI) 64,00 63,58 0,66% Natural Gas (NG) 2,49 2,66-6,39% Gold (GC) 1.276,00 1.293,30-1,34% Copper 292,65 288,70 1,37% Wheat (w) 448,25 465,50-3,71% 75 70 65 60 55 50 45 40 Oil Prices Brent Crude WTI Crude WEEKLY SHIPPING MARKET REPORT - pg. 7

SHIPPING INDICATIVE SHARE VALUE Stock Prices Shipping Companies Company Stock Exchange 18-Apr 11-Apr ± (%) Diana Shipping Ink (DSX) NYSE 3,14 3,11 0,96% Dry ships Ink (DRYS) NASDAQ 4,31 4,49-4,01% Euroseas Ltd (ESEA) NASDAQ 0,73 0,74-1,35% Eagle Bulk Shipping Inc (EGLE) NASDAQ 5,11 5,08 0,59% Navios Maritime (NM) NYSE 4,46 4,25 4,94% Navios Maritime PTN (NMM) NYSE 0,95 0,93 2,15% Star Bulk Carriers Corp (SBLK) NASDAQ 7,95 7,94 0,13% Seanergy Maritime Holdings Corp (SHIP) NASDAQ 4,07 4,21-3,33% Safe Inc (SB) NYSE 1,62 1,50 8,00% Golden Ocean (GOGL) NASDAQ 5,63 5,54 1,62% Stock Prices - Wet Company Stock Exchange 18-Apr 11-Apr ± (%) Capital Product Partners LP (CPLP) NASDAQ 11,12 11,26-1,24% TOP Ships Inc (TOPS) NASDAQ 0,71 0,78-8,97% Tsakos Energy Navigation (TNP) NYSE 3,38 3,43-1,46% Stock Prices - Other Company Stock Exchange 18-Apr 11-Apr ± (%) Danaos Corporation (DAC) NYSE 0,92 0,96-4,17% Stealth Gas Inc (GASS) NASDAQ 3,47 3,45 0,58% Rio Tinto (RIO) NYSE 60,77 62,06-2,08% Vale (VALE) NYSE 13,32 13,40-0,60% ADM Archer Daniels Midland (ADM) NYSE 42,76 43,29-1,22% BHP Billiton (BHP) NYSE 54,95 56,35-2,48% WEEKLY SHIPPING MARKET REPORT - pg. 8

CONTACT DETAILS ADVANCED SHIPPING & TRADING S.A. Vouliagmenis Avenue 168, 1 st Floor, Glyfada 16674, Greece Tel: +30 210 30 03 000 Fax: +30 210 30 01 305 Sale & Purchase Department: Capt. Fountoglou Michalis Mob: +30 6947 70 07 18 Thermos Stavros Mob: +30 6944 24 20 20 Harrington James Mob: +44 7768 10 45 33 Papoutsis George Mob: +30 6951 00 51 65 E-mail: snp@advanced-ship.gr E-mail: chartering@advanced-ship.gr E-mail: finance@advanced-ship.gr E-mail: research@advanced-ship.gr Dry Cargo Chartering Department: Bonatsos Mavra Mob: +30 6951 00 24 36 Benetos Kostas Mob: +30 6943 29 32 13 Pittas Iordanis Mob: +30 6944 05 27 46 Dienis Aggelos Mob: +30 6945 64 97 73 Balpakakis Manolis Mob: +30 6955 47 77 72 Chrousalas Thanasis Mob: +30 6955 47 77 73 Landrakis Stelios Mob: +30 6955 47 77 74 Bilias Tasos Mob: +30 6955 47 77 71 Kontaratos Alkis Mob: +30 6949 19 11 79 Markoutsa Kanella Mob: +30 6959 99 85 10 Research Department: Avdikos Alexandros Mob: +30 6979 49 91 78 Liadi Ioanna Mob: +30 6946 75 59 10 Liadi Artemis Mob: +30 6956 58 41 49 Roussos Pantelis Mob: +30 6955 19 57 42 Mylona Irini Mob: +30 6951 97 60 02 Operations Department: Katsouli Fotini Mob: +30 6955 47 77 75 Chief Executive Consultant: Capt. Galonis Dimitrios Mob: +30 6945 55 36 81 Accounting Department: Stergiou Kostas Mob: +30 6942 09 73 10 Administration Department: Chronopoulou Fenia Mob: +30 6932 34 94 50 WEEKLY SHIPPING MARKET REPORT - pg. 9 THINK BIG Legal Disclaimer 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, Advanced Shipping & Trading 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. Research compiled by: Advanced Shipping & Trading S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: research@advanced-ship.gr