Weekly Market Report

Week 2 Tuesday 13th January 29 Weekly Market Report Sale & Purchase Newbuilding Secondhand Demolition Chartering World Economy News The risk of serious fiscal crises in developed countries has doubled if not tripled, according to the World Economic Forum s report on global risks ahead of the gathering of government and business leaders in Davos later this month. The report predicts that massive government spending to shore up financial systems will threaten countries such as the US, UK, France, Italy, Spain and Australia, which are already in a precarious fiscal position. Coupled with the risk of a hard economic landing in China defined as growth slowing to below 6% the effects would significantly damage the weakening global economy, the report says. One of the biggest [financial] risks is that short-term crisis fighting may induce business and governments to lose the long-term perspective on risk. Government action should be only for systemic failure. So, for the banking system: yes, for car manufacturers: no. The other big risks highlighted in the report, published on Tuesday, were gaps in global governance and issues relating to natural resources and climate change, such as problems with the supply of food, water and energy. The cutting off of gas supplies to countries such as Bulgaria after an argument between Ukraine and Russia is one big, recent example of this. (Financial Times) Energy & Commodities Oil prices continued to retreat, dropping below the $37 a barrel level, while base metals fell and gold eased as commodity markets staged a broad based retreat on Tuesday as more weak economic data pointed to a deepening global economic downturn. Nymex February West Texas Intermediate dropped $1.19 to $36.4 a barrel after touching a low of $36.1 while the March WTI contract lost $1 at $42.65. Goldman Sachs expects oil prices to sink towards $3 a barrel in the first quarter this year as oil stocks in the developed world climb to their highest levels for a decade over the next two months. However, Goldman also reiterated its forecast for oil to reach $65 by the end of this year as Opec production cuts and declines in non-opec supply help the market to rebalance. (Financial Times) Shipping News In a case which will certainly be hailed as one of the most prominent in recent history, shipping magnate Pericles Panagopoulos and his family are faced with the biggest challenge of their lives. Mr. Panagopoulos was kidnapped by three armed with AK-47 men yesterday morning, as he was leaving his home in the district of Kavouri, just outside Athens. By late afternoon, his kidnappers finally made contact and reportedly demanded a ransom of 4 million euros for his release. One major issue though could be the 74 year-old ship owner s fragile health, since he requires daily medication and his health needs close monitoring and attention. In June, the chief executive of aluminum company Alumil and chairman of the Federation of Industries in the northern city of Thessaloniki, George Milonas, was also kidnapped before being released two weeks later after a ransom was paid. Last month, a well-known Athens doctor was also kidnapped but has yet to be found. It is the first time a shipping tycoon has been a kidnap victim since 1996 when Yannis Peratikos, a shipowner, was gunned down by the 17 November terror group, which was eradicated in 22 after a 27-year career of political murder and violence. (Hellenic Shipping News) Chartering (Wet: Weaker / Dry: Stronger) For the past week, on the Dry market, the BDI was on Friday (9/1/29) 872, +99 points up from end of previous week s levels. On the Wet market, the BDTI on Friday (9/1/29) was 79, 14 points down and the BCTI at 563, -6 points down from end of previous week s levels. Sale & Purchase (Wet: Weaker / Dry: Weaker) The Sale and Purchase market was quite active for the past week on the dry side. On the wet side things look more silent, in particular, KL Line has acquired a VLCC resale from Imabari with delivery June 29 for 11$m and a DH small tanker, the Vilyuysk (17,125dwt-built 1977 was sold to an undisclosed buyer for 3$m. On the dry side, the panamax Cumbria (69,43dwt-built 1994) was reported sold to Chinese for 14.1 $m, Pontodromon (64,975dwt-built 1985) was sold to Greeks for 5.75$m and Irinikos (61,748dwt-built 1984) was sold for 3.5$m, due to SS in March 29. Furthermore, the handymax bulker Forest King (46,826dwtbuilt 1991) was sold for 6.5$m. Lastly, the handysize Pontomedon (37,596dwt-built 1985) was purchased by Europeans for 5.1$m, Vertigo (26,666dwt-built 1986) was bought by Chinese for 4$m and Santorin II (23,899dwt-built 1984 was acquired by Vietnamese for 3.6$m. Newbuilding (Wet: Weaker / Dry: Weaker) The Newbuilding market remains standstill. There is almost total lack of demand for new orders, and as a result yards are starting to realize that newbuilding prices drop will soon take effect. Demolition (Wet: Stronger / Dry: Stronger) The demolition market is growing, as prices are getting stronger and supply of new tonnage is increasing. Although a decline in scrap prices is still evident in the medium term, mainly due to the supply growth. This week: Bangladeshi breakers have acquired the MR tanker United Moonlight (55,272dwt-built 1982-11,147ldt) for 31$/ldt. week Indian ship breakers have bought the panamax bulkers Stone Topaz (65,29dwt-built 1976-12,6ldt) for 28$/ldt, with 2tns IFO ROB and the Athena (61,492dwt-built 1979-11,45ldt) for 232$/ldt, asis Gibraltar, with 1,5tns ROB. Furthermore, Indians have acquired the handysize bulker Corina (36,255dwt-built 1977) for 267$/ldt, the LPG Galileo (58,341cbm-built 1982-18,776ldt) for 282$/ldt, with 7tns ROB and the container Ankara (2,328teu-built 1976-15,6ldt) for 27$/ldt. Intermodal Research 1 13/1/29

Wet Market Week 2 Week 1 4q28 4q27 Vessel Routes WS WS ±% points points 265k AG-JAPAN 65 74,839 63 46,293 3% 62,821 111,328 VLCC Suez max Aframax Clean Dirty VLCC Suez max Aframax Panamax MR Handy size Spot Rates 28k AG-USG 45 51,448 45 33,852 % 5,293 71,263 26k WAF-USG 58 63,435 9 76,617-36% 77,361 76,546 13k MED-MED 1 59,56 12 55,991-17% 72,131 66,729 13k WAF-USAC 88 47,29 133 57,646-34% 58,427 49,575 13k AG-CHINA 75 39,273 11 45,58-32% 45,52 54,418 8k AG-EAST 95 28,46 145 34,541-34% 37,968 32,129 8k MED-MED 8 21,473 125 31,32-36% 42,778 36,21 8k UKC-UKC 9 32,526 13 49,173-31% 55,277 44,727 7k CARIBS-USG 75 14,519 263 62,2-71% 39,25 26,372 75k AG-JAPAN 8 19,433 125 25,174-36% 48,716 22,954 55k AG-JAPAN 95 17,895 14 21,65-32% 41,66 22,616 37K UKC-USAC 12 14,768 195 21,427-38% 19,299 22,31 3K MED-MED 125 14,22 21 3,58-4% 34,146 33,683 55K UKC-USG 13 31,961 19 37,632-32% 37,82 3,752 55K MED-USG 13 3,89 19 35,2-32% 35,221 28,525 5k CARIBS-USAC 85 12,356 255 44,363-67% 32,851 26,113 TC Rates Week 2 Week 1 ±% 28 27 26 3k 1yr TC 52,75 52,75.% 73,798 55,798 58,558 3k 3yr TC 45,2 47,7-5.2% 58,844 48,585 47,537 15k 1yr TC 42,25 42,25.% 47,442 44,72 43,442 15k 3yr TC 37,7 39,2-3.8% 41,123 38,777 38,36 15k 1yr TC 28,25 28,75-1.7% 36,43 33,394 33,385 15k 3yr TC 26,2 26,95-2.8% 3,7 29,83 28,825 7k 1yr TC 28,25 28,25.% 29,471 29,567 31,346 7k 3yr TC 25,2 26,2-3.8% 26,686 27,113 27,36 45k 1yr TC 2,75 21,25-2.4% 23,731 26,154 27,25 45k 3yr TC 2,2 2,7-2.4% 22,527 23,488 22,498 36k 1yr TC 19,75 2,25-2.5% 22,22 23,519 24,933 36k 3yr TC 19,2 19,95-3.8% 2,585 21,517 2,912 WS points WS points 4 35 3 25 2 15 1 5 4 35 3 25 2 15 1 5 DIRTY - WS RATES TD3 TD8 TD5 TD4 2-Jan-7 2-Feb-7 2-Mar-7 2-Apr-7 2-May-7 2-Jun-7 2-Jul-7 2-Aug-7 2-Sep-7 2-Oct-7 2-Nov-7 2-Dec-7 2-Jan-8 2-Feb-8 2-Mar-8 2-Apr-8 2-May-8 2-Jun-8 2-Jul-8 2-Aug-8 2-Sep-8 2-Oct-8 2-Nov-8 2-Dec-8 2-Jan-9 2-Feb-9 CLEAN - WS RATES TC2 TC6 TC4 TC1 2-Jan-7 2-Feb-7 2-Mar-7 2-Apr-7 2-May-7 2-Jun-7 2-Jul-7 2-Aug-7 2-Sep-7 2-Oct-7 2-Nov-7 2-Dec-7 2-Jan-8 2-Feb-8 2-Mar-8 2-Apr-8 2-May-8 2-Jun-8 2-Jul-8 2-Aug-8 2-Sep-8 2-Oct-8 2-Nov-8 2-Dec-8 2-Jan-9 2-Feb-9 1, 9, 8, 7, 6, 5, 4, 3, 2, 8, 7, 6, 5, 4, 3, 2, Tankers 1YR TC RATES VLCC Suezmax Aframax Panamax MR 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 Tankers 3YR TC RATES VLCC Suezmax Aframax Panamax MR 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 $m 18 16 14 12 1 8 6 4 Tankers SH Values VLCC 3K DH 5Y Suezmax 15K DH 5Y Aframax 15K DH 5Y Panamax 7K DH 5Y MR 4K 5Y 5-Jan-8 2-Jan-8 4-Feb-8 19-Feb-8 5-Mar-8 2-Mar-8 4-Apr-8 19-Apr-8 4-May-8 19-May-8 3-Jun-8 18-Jun-8 3-Jul-8 18-Jul-8 2-Aug-8 17-Aug-8 1-Sep-8 16-Sep-8 1-Oct-8 16-Oct-8 31-Oct-8 15-Nov-8 3-Nov-8 15-Dec-8 3-Dec-8 14-Jan-9 The Tankers Sale and Purchase is not moving so much the last couple of weeks. With only limited deals being concluded and equally limited ships under negotiations, it seems hard to set a benchmark for this market. This week there was the resale of a VLCC of 36,dwt from Imabari with delivery June 29 for 11$m, the buyers behind this deal is reported to be K Line. The other deal reported this week was the sale of a DH small tanker, the Vilyuysk (17,125dwt-built 1977 was sold to an undisclosed buyer for 3$m. Intermodal Research 2 13/1/29

Dry Market Baltic Indices Week 2 Week 1 9/1/29 2/1/29 ±% 28 27 26 Index Index Index Index Index BDI 872 773 13% 6,663 7,321 3,43 BCI 1,728 13,374 1,361 9,97 27% 9,577 1,172 4,539 BPI 534 4,298 54 4,376-1% 6,342 7,283 3,271 BSI 394 4,216 411 4,395-4% 4,225 4,788 2,498 BHSI 269 3,998 279 4,146-4% 2,257 2,469 1,51 Index 2, 18, 16, 14, 12, 1, 8, 6, 4, 2, 2-Jan-5 2-Apr-5 2-Jul-5 2-Oct-5 2-Jan-6 2-Apr-6 Baltic Indices BCI BPI BSI BHSI BDI 2-Jul-6 2-Oct-6 2-Jan-7 2-Apr-7 2-Jul-7 2-Oct-7 2-Jan-8 2-Apr-8 2-Jul-8 2-Oct-8 2-Jan-9 Handysize Handymax Supramax Panamax Capesize $m 16 14 12 1 8 6 4 2 Week 2 Period Week 1 ±% 28 27 26 17K 6mnt TC 18,75 1,25 83% 117,43 118,66 49,392 17K 1yr TC 22,7 2,2 12% 111,729 17,118 45,446 17K 3yr TC 23,75 2,25 17% 82,429 76,58 36,615 7K 6mnt TC 9,2 9,7-5% 57,623 58,996 24,717 7K 1yr TC 11,625 11, 6% 55,887 52,567 22,45 7K 3yr TC 15,2 13,2 15% 44,556 39,974 17,936 52K 6mnt TC 8, 8, % 47,159 48,822 24,462 52K 1yr TC 9,7 9,7 % 45,71 45,92 22,81 52K 3yr TC 12,25 12,25 % 34,38 34, 17,22 45k 6mnt TC 6,7 6,95-4% 41,681 43,639 22,8 45k 1yr TC 8,25 8,5-3% 38,923 4,12 19,682 45k 3yr TC 1,45 1,45 % 28,431 29,63 14,972 3K 6mnt TC 5,75 6, -4% 3,547 31,596 15,975 3K 1yr TC 6,95 7,2-3% 29,686 28,32 14,91 3K 3yr TC 9,5 9,5 % 22,87 22,113 12,77 Bulk Carriers SH Values Capesize 17K 5Y Handymax 45K 5Y Panamax 73K 5Y Handysize 3K 5Y 4-Jan-8 19-Jan-8 3-Feb-8 18-Feb-8 4-Mar-8 19-Mar-8 3-Apr-8 18-Apr-8 3-May-8 18-May-8 2-Jun-8 17-Jun-8 2-Jul-8 17-Jul-8 1-Aug-8 16-Aug-8 31-Aug-8 15-Sep-8 3-Sep-8 15-Oct-8 3-Oct-8 14-Nov-8 29-Nov-8 14-Dec-8 29-Dec-8 13-Jan-9 2, 15, 1, 5, Average T/C Rates for Baltic Indices AVR 4TC BCI AVR 4TC BPI AVR 5TC BSI AVR 6TC BHSI 25, 2-Jan-5 2-Apr-5 2-Jul-5 2-Oct-5 2-Jan-6 2-Apr-6 2-Jul-6 2-Oct-6 2-Jan-7 Dry Bulkers 1 Year Period Rates Capesize Panamax Handymax Supramax Handysize 2, 18, 16, 14, 12, 1, 8, 6, 4, 2, 14, 12, 1, 8, 6, 4, 2, 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 2-Apr-7 2-Jul-7 2-Oct-7 2-Jan-8 Dry Bulkers 3 Year Period Rates Capesize Panamax Handymax Supramax Handysize 5-Jan-7 5-Feb-7 5-Mar-7 5-Apr-7 5-May-7 5-Jun-7 5-Jul-7 5-Aug-7 5-Sep-7 5-Oct-7 5-Nov-7 5-Dec-7 5-Jan-8 5-Feb-8 5-Mar-8 5-Apr-8 5-May-8 5-Jun-8 5-Jul-8 5-Aug-8 5-Sep-8 5-Oct-8 5-Nov-8 5-Dec-8 5-Jan-9 5-Feb-9 The Dry Bulkers Sale and Purchase seems quite awake, as there is a remarkable number of deals concluded this week. All of the sales reported this week are small sizes up to panamaxes and mainly older vessels ranging from 34 to 14 years old. 2-Apr-8 2-Jul-8 2-Oct-8 2-Jan-9 On the panamax sector, the Cumbria (69,43dwt-built 1994) was reported sold to Chinese for 14.1$m. This bulk carrier is changing hand for the second time in 9 months, as in March 28 was sold to Chinese for 6$m, including TC until 1/28 at 2,. Also, the Pontodromon (64,975dwt-built 1985) was sold to Greeks for 5.75$m and the similar Irinikos (61,748dwt-built 1984) was sold for 3.5$m, due to SS in March 29. On the handymax size, the Forest King (46,826dwt-built 1991) was sold to an undisclosed buyer for 6.5$m and the Lastos (43,214dwtbuilt 1984) was bought by Chinese for 4.2$m. In September the similar Sea Crown (43,34dwt-built 1984) was acquired by Greeks for 28.5$m, which represents a 85% drop. On the handysize sector, the Pontomedon (37,596dwt-built 1985) was purchased by Europeans for 5.1$m, the Kyriakos M (34,386dwtbuilt 1976) was sold for 1.8$m, the Kcl Bardu (33,66dwt-built 1979) was sold for 3$m, the Sacura (26,8dwt-built 1981) was sold for 2$m, the Vertigo (26,666dwt-built 1986) was bought by Chinese for 4$m and lastly the Santorin II (23,899dwt-built 1984 was acquired by Vietnamese for 3.6$m. Finally, the mini bulk Kapitan Mochalov (14,2dwt-built 1974) was sold to Syrians for 1.6$m. Intermodal Research 3 13/1/29

Secondhand Sales Intermodal Research 4 13/1/29

New Building Market Tankers NB Prices (m$) Bulk Carriers NB Prices (m$) million $ 18 16 14 12 1 8 6 4 2 VLCC Suezmax Aframax LR1 MR million $ 11 1 9 8 7 6 5 4 3 2 1 Capesize Panamax Supramax Handysize 1-Jan-6 1-Apr-6 1-Jul-6 1-Oct-6 1-Jan-6 1-Apr-6 1-Jul-6 1-Oct-6 Bulkers 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 Tankers Gas Indicative Newbuilding Prices (million$) Vessel Week Week 2 1 ±% 28 27 26 Capesize 17k 83.5 88.5-5.6% 96 87 64 Panamax 75k 42.6 46.8-8.9% 54 47 37 Supramax 57k 37.6 42.5-11.5% 48 43 33 Handysize 3k 27.7 32.3-14.2% 37 33 28 VLCC 3k 145. 15.5-3.6% 155 138 127 Suezmax 15k 86.5 91.3-5.2% 95 86 79 Aframax 11k 7.6 75.5-6.5% 78 69 64 LR1 7k 58.3 61.8-5.7% 66 61 55 MR 47k 44. 48. -8.2% 52 5 47 LPG M3 75k 87.6 92.3-5.1% 94 92 92 LPG M3 52k 77.6 82.5-5.9% 85 78 74 LPG M3 23k 5.7 53.3-4.8% 55 52 52 Please note that due to the lack of new newbuilding orders in most of the above sectors, the prices are estimates. The slightly bigger drop shown this week is in order to adjust to the present bear market. Still, however, the lack of newbuilding orders makes these prices an estimate of the newbuilding market. The Newbuilding market remains very quiet. Demand for new orders stays low, and as a result there is no guidance on prices. Although shipyards, especially those more exposed to risk, have realized the necessity of lowering prices if they wish to generate any business. Moreover, some shipowners would like to cancel, postpone or renegotiate their new building orders and few of them have tried to do so; however, it seems that it is not that easy to come to a favorable settlement with the shipyards. The builders have the upper hand in negotiations as not many of the owners are willing to walk away when they have remitted payments up to 5% of the contract price. There were no new orders placed this week. Intermodal Research 5 13/1/29

Demolition Market The demolition market is growing day by day. The supply of demo tonnage remains high, and prices are also unexpectedly increasing. The number of deals concluded remains very high. In Bangladesh, the demolition market remains calm, as the oversupply of local deliveries is still keeping the ship breakers busy. Demolition prices remain stable, around 28$/ldt for wet and 25$/ldt for dry tonnage. This week Bangladeshi breakers have acquired the MR tanker United Moonlight (55,272dwt-built 1982-11,147ldt) for 31$/ldt. Indian demolition market is blooming with a huge number of deals concluded and thousand of tonnage ending up in their yards. Indian ship Indicative Demolition Prices ($/ldt) Markets Week Week 2 1 ±% 28 27 26 Bangladesh 28 28.% 591 43 43 India 285 28 1.8% 566 372 372 Pakistan 285 27 5.6% 555 368 368 China 23 23.% 385 254 254 Bangladesh 25 24 4.2% 538 373 373 India 26 25 4.% 522 35 35 Pakistan 255 24 6.3% 56 342 342 China 22 22.% 339 229 229 recyclers are offering about 285$/ldt for wet and 26$/ldt for dry tonnage. This week Indian ship breakers have bought the panamax bulkers Stone Topaz (65,29dwt-built 1976-12,6ldt) for 28$/ldt, with 2tns IFO ROB and the Athena (61,492dwt-built 1979-11,45ldt) for 232 $/ldt, asis Gibraltar, with 1,5tns ROB. Furthermore, Indians have acquired the handymax Wisdom C (4,2dwt-built 198-9,542ldt) for an undisclosed price, the handysize bulkers Corina (36,255dwt-built 1977) for 267$/ldt and Walka Mlodych (33,485dwt-built 1978-8,43ldt) for 265$/ldt, the LPGs Galileo (58,341cbm-built 1982-18,776ldt) for 282$/ldt, with 7tns ROB and the Clipper Lady (52,25cbm-built 1979-16,987ldt) for 26$/ldt, with 34tns ROB and finally the container Ankara (2,328teu-built 1976-15,6ldt) for 27$/ldt. Pakistani ship recyclers are fighting for some tonnage, offering about 285$/ldt for wet and about 255$/ldt for dry tonnage. An older sale came to light this week, the handysize bulker Ira (26,697dwt-built 1979-6,412ldt) was sold for 255$/ldt. Wet Dry $/ldt 8 7 6 5 4 3 2 1 1-Jan-5 1-Apr-5 1-Jul-5 1-Oct-5 Wet Demolition Prices Bangladesh India Pakistan China 1-Jan-6 1-Apr-6 1-Jul-6 1-Oct-6 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 $/ldt 8 7 6 5 4 3 2 1 1-Jan-5 1-Apr-5 1-Jul-5 1-Oct-5 Dry Demolition Prices Bangladesh India Pakistan China 1-Jan-6 1-Apr-6 1-Jul-6 1-Oct-6 1-Jan-7 1-Apr-7 1-Jul-7 1-Oct-7 1-Jan-8 1-Apr-8 1-Jul-8 1-Oct-8 1-Jan-9 Intermodal Research 6 13/1/29

Stock Exchange Data Currencies Commo ditites Market Data 12-Jan-9 9-Jan-9 8-Jan-9 7-Jan-9 6-Jan-9 W-O-W Change % Dow Jones 8,473.97 8,599.18 8,742.46 8,769.7 9,15.1-5.3% Nasdaq 1,538.79 1,571.59 1,617.1 1,599.6 1,652.38-5.5% S&P 5 87.26 89.35 99.73 96.65 934.7-6.2% FTSEurofirst 3 853.22 866.95 87.92 877.85 889.57-2.3% DJ Euro Stoxx 5 2,451.87 2,486.59 2,516.56 2,538.55 2,578.43-4.% FTSE 1 4,426.2 4,448.5 4,55.4 4,57.5 4,638.9-3.3% FTSE All-Share UK 2,218.93 2,227.56 2,253.52 2,257.41 2,319.49-3.% CAC4 3,246.12 3,299.5 3,324.33 3,346.9 3,396.22-3.4% Xetra Dax 4,719.62 4,783.89 4,879.91 4,937.47 5,26.31-5.3% Nikkei. 8,836.8 8,876.42 9,239.24 9,8.84-1.% Hang Seng 13,971. 14,377.44 14,415.91 14,987.46 15,59.51-1.2% FTSE All World $ 146.1 149.5 152.1 152.7 154.5-4.9% / $ 1.34 1.35 1.37 1.37 1.35-1.6% / $ 1.48 1.52 1.52 1.52 1.49 1.6% / $.9.89.9.9.91-3.8% $ / 89.2 9.2 91.1 92.7 93.9-4.3% / 132.4 137.4 138.7 14.7 138.8-2.4% $ INDEX 87.9 87.4 87.1 87.8 89. -.5% / SFr 1.49 1.5 1.5 1.5 1.51 -.8% Oil Brent $ 42.91 44.42 44.67 45.86 5.53-13.5% Oil WTI $ 37.59 4.83 41.7 42.63 48.58-23.% Gold $ 825.2 855.35 857.8 846.75 845.5-2.9% Company Maritime Stock Data Commodities & Financial Market 51 5 49 48 47 46 45 44 43 42 41 4 39 38 37 6-Jan Basic Commodities Weekly Summary For any further queries please do not hesitate to contact our Research Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co. Oil Brent $ Oil WTI $ Gold $ Stock Exchange Curr. 12-Jan-9 9-Jan-9 8-Jan-9 7-Jan-9 6-Jan-9 5-Jan-9 W-O-W Max 52wk Min 52wk Change % AEGEAN MARINE PETROL NYSE USD 17.24 18.14 19.1 17.82 18.5 17.75-2.9% 44.17 7.93 ARIES MARITIME TRANSPORT NASDAQ USD 1.18 1.41 1.17.59.55.5 136.% 7.3.32 CAPITAL PRODUCT PARTNERS L.P. NASDAQ USD 1.19 1.27 1.43 9.5 9.71 8.58 18.8% 21.83 5.7 DANAOS CORP NYSE USD 8.58 1.16 9.46 8.83 9.32 8.11 5.8% 29.96 3.18 DIANA SHIPPING NASDAQ USD 12.94 14.69 14.14 13.39 15.4 14.32-9.6% 68.78 7.24 DRYSHIPS INC(IPO) NASDAQ USD 15.28 16.58 15.13 12.96 15.23 13.85 1.3% 11.74 3.54 EUROSEAS LTD NASDAQ USD 5.9 5.46 5.42 5.15 5.82 4.87 4.5% 16.8 3.12 EXCEL MARITIME CARRIERS AMEX USD 8.11 8.91 8.79 7.9 9.3 8.65-6.2% 57.72 3.61 FREESEAS INC NASDAQ USD 1.46 1.7 1.65 1.61 1.88 1.78-18.% 7.97.9 GENCO SHIPPING NYSE USD 16.4 18.64 18.2 16.5 19.15 17.79-7.8% 84. 6.85 GENERAL MARITIME NYSE USD 1.25 1.94 1.9 1.92 11.46 11.6-7.3% 3.64 9.47 GLOBUS MARITIME LTD LONDON GBX 59. 6. 6. 6. 6. 73.2-18.% 555. 59. HELLENIC CARRIERS LTD LONDON GBX 58. 53. 58. 58. 58. 6. -3.3% 25. 5. NAVIOS MARITIME CORP NYSE USD 3.75 4.8 3.72 3.52 3.93 3.72.8% 14.67 1.21 OCEANAUT INC AMEX USD 8. 7.92 7.93 7.93 7.92 7.9 1.3% 8.12 6.11 OCEANFREIGHT INC NASDAQ USD 4.43 5.23 4.8 3.97 4.35 3.89 13.9% 26.7 1.87 OMEGA NAVIGATION ENTERPRISES INC NASDAQ USD 7.17 7.39 7.38 7.4 8.1 6.78 5.8% 21.66 4.95 PARAGON SHIPPING INC NASDAQ USD 5.48 6.12 5.77 5.38 6. 5.39 1.7% 21.8 2.37 STEALTHGAS INC NASDAQ USD 4.68 5.13 5.3 5.3 5.72 4.75-1.5% 17.67 2.72 TOP SHIPS INC NASDAQ USD 2.24 2.29 2.25 1.85 1.91 1.86 2.4% 1.28 1.4 TSAKOS ENERGY NAVIGATION INC NYSE USD 21.14 21.93 22.2 21.75 22.14 2.96.9% 38.59 16.71 MDO 38cst 18cst 7-Jan 8-Jan 9-Jan 1-Jan 11-Jan 12-Jan 86 855 85 845 84 835 83 825 82 Bunker Prices 9-Jan-9 2-Jan-9 W-O-W Change % Rotterdam 462.5 395.5 16.9% Houston 52.5 5.5.4% Singapore 489. 441. 1.9% Rotterdam 226. 173.5 3.3% Houston 252.5 211. 19.7% Singapore 263.5 223.5 17.9% Rotterdam 272.5 213.5 27.6% Houston 282.5 262.5 7.6% Singapore 293.5 248.5 18.1% Intermodal Shipbrokers Co. 17th km Ethniki Odos Athens-Lamia & 3 Agrambelis Street, 145 64 N. Kifisia, Athens - Greece Tel: +3.21.62933 Fax: +3.21.6293333 www.intermodal.gr Compiled by: Intermodal Research Department Ms. Mariana Skiadopoulou E-mail: research@intermodal.gr On behalf of: Intermodal Sale & Purchase and Newbuilding Departments Mr. K. Dermatis, Mr D. Evdemon, Mr. C. Goudis, Mr. A. Poulopoulos, Mr. T. Ntalakos, Ms. N. Anomitri, Mr. G. Dermatis, Mr. T. Papadopoulos, Mr. P. Manesis E-mail: snp@intermodal.gr Intermodal Research 7 13/1/29