WEEKLY SHIPPING MARKET REPORT

WEEKLY SHIPPING MARKET REPORT WEEK 40-2 nd October to 10 th October 2012 - 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 Russia s Wheat and Meslin Exports Reach 10.3 Million Metric Tons Russia s exports of wheat and meslin, a mixture of wheat and rye, reached about 10.3 million metric tons in the eight months through August, the Federal Customs Service said. Imports of wheat and meslin reached 142,700 tons and barley 457,200 tons in the period, the service said in an e-mailed statement today, without providing comparisons with a year earlier. In August, almost 2.35 million tons of wheat and meslin were exported, the service said. (Bloomberg) Analyst Sees Further Iron Ore Price Weakness Iron ore prices are likely to soften further next year as consumption growth in China continues to slow, Wood Mackenzie Ltd.'s principal iron ore market analyst said. The research consultancy expects 62% ferrous-content iron ore delivered into China--a common benchmark--to average $120 a dry metric ton in 2013, compared with $168/ton in 2011 and $127/ton forecast for this year, Paul Gray told IMM Events' European Union Iron Ore conference in Vienna. "We're entering a lower growth environment for China," said Mr. Gray. "For better or worse, iron ore is the ultimate China play," he added. China is the world's top consumer of metals, and the largest importer of iron ore--a key ingredient in steelmaking. Prices for bulk commodities such as iron ore have fallen sharply to multiyear lows in recent months as steel demand in China has waned alongside its slowing economy. The price of iron ore was $104.20/ton Friday, down 23% over a three-month period. Despite expectations of slower demand growth, China's demand for steel is far from peaking, said Mr. Gray. Wood Mackenzie doesn't expect Chinese steel demand to peak until 2028, when demand should be 907 million tons per annum. It expects hot-metal, or iron, production to peak at 862 million tons in 2025. "Under our base case view, this is still very long-duration story," he said. (Dow Jones) India's rice export in 2012-13 may fall on low domestic production: FAO India, one of the main rice exporter in the Asian region is expected to lower its annual sales because of fall in domestic production on account of uneven rains, the Food and Agriculture Organisation (FAO) said in its latest monthly food scenario. It said India s kharif rice production is projected to fall by around 6% as compared to 2011. India s union agriculture ministry too in its first advanced estimate for 2012-2013 kharif crop season has pegged the rice output at 85.59 million tonnes, 6.5% less than last year. Though the UN-body did not give any firm numbers on the likely drop in export numbers, but traders and industry officials said it could be anywhere between 1-2 million tonnes. In 2011-2012, India exported around 8.30 million tonnes of rice, of which 3.21 million tonnes was the aromatic basmati rice, while the rest was non-basmati rice. Overall, the global body said that world cereals production is expected to fall by 2.6 per cent in 2012 to around 2286 million tonnes because of large-scale drought in US, Europe and parts of Asia. It said wheat production is expected to fall by 3.2%, while coarse cereals output is expected to fall by 2.3%. However, not much change is seen in global rice production as compared to 2011-2012. The report said that global milled rice production could be around 483.5 million tonnes, almost same as 2011, but less than the June forecast of 490.5 million tonnes. The milled rice production is expected to fall because of low output in Bangladesh, India and Pakistan, FAO said. (Business Standard) West African October oil imports into Asia hit record September and at a record high for October, data compiled by Reuters showed. A Reuters survey of trade and shipping sources shows refiners in China, India, Indonesia and other Asian countries have bought a total of 55 cargoes of West African crude oil for loading this month, up from 50 cargoes in September. Barring a sharp and unexpected decline in Asian imports from West Africa during November and December, 2012 will exceed the previous annual average record of 1.71 million bpd set in 2010, the data show. (Reuters) Oil Rises as Middle East Concern Counters IMF Growth Oil advanced as increasing tension in the Middle East countered concern that a global economic slowdown will curb demand. Crude rose as much as 1.8 percent as Turkey sent more tanks and missile defense systems to the Syrian border yesterday. The International Monetary Fund cut its global growth forecasts today as the euro area s debt crisis escalates. The spread between West Texas Intermediate oil traded in New York and Brent from the North Sea reached the highest level in almost a year. There s a struggle between the geopolitics versus the fundamentals in the market, said John Kilduff, a partner at Again Capital LLC, a New Yorkbased energy hedge fund. There s some anxiety about the Middle East that s raising geopolitical concerns. This is trumping today s warning from the IMF. Crude oil for November delivery increased $1.43, or 1.6 percent, to $90.76 a barrel at 10:15 a.m. on the New York Mercantile Exchange. The contract rose as much as $1.57 to $90.90 today. Prices are down 8.2 percent this year. Brent oil for November settlement gained $2.06, or 1.8 percent, to $113.88 a barrel on the London-based ICE Futures Europe exchange. The European benchmark grade s premium to WTI rose to as much as $23.10 a barrel, the highest intraday level since Oct. 21, 2011, according to Bloomberg calculations of exchange data. That s up from $22.49 yesterday. Turkish artillery units responded yesterday to fire from Syrian President Bashar al-assad s armed forces. Tensions between the two countries have risen with the 19-month rebellion against Assad s government. Turkey has offered support for the rebels. Saudi Pledge Saudi Arabia will help to satisfy all demand for crude, Ali al-naimi, the kingdom s oil minister, told reporters in Riyadh today ahead of a meeting with his counterparts from member states of the Gulf Cooperation Council. We will work towards moderating the price, al-naimi said. We will meet the market demands fully. The world economy will grow 3.3 percent this year, the slowest pace since the 2009 recession, and 3.6 percent next year, the IMF said today. The figures compare with July predictions of 3.5 percent in 2012 and 3.9 percent in 2013. The Washington-based lender now sees alarmingly high risks of a steeper slowdown, with a one-in-six chance of growth slipping below 2 percent. U.S. Supply U.S. oil supplies probably rose after crude production climbed to the highest level in more than 15 years and imports increased, a Bloomberg survey showed before an Energy Department report on Oct. 11. Stockpiles probably rose 1.5 million barrels last week, according to the median estimate of nine analysts surveyed by Bloomberg. Brent is more sensitive to geopolitical risk than WTI, said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. We re also seeing the impact of crude oil production rising to a 15-year high here while fuel demand remains anemic. These factors are depressing WTI. (Bloomberg) Imports of West African crude oil by Asian refiners and end-users have reached 1.69 million barrels per day (bpd) this month, up 10 percent from 1

Dry Bulk - Chartering In Brief: Recovery for larger vessels Capes: Recovery for Capes Although the Chinese holiday week rates kept increasing with the BCI closing at 1932 points increased by 272 points. In the atlantic basin, the upward trend of the fronthaul continued ended up at around USD 28,500 improved by around USD 3,250 compared to last week. Regarding the transantlantic round trips; owner s resistance lead to even higher numbers fixing at around USD 8,750. The same positive sentiment in the Pacific market with the round trips closing at around USD 12,000 mainly due to Australian iron ore trade which produced many fresh requirements. Period fixtures at around USD 11,750 / USD 12,000 for one year period. Panamax: Positive sentiment after a while in both basins. In the Atlantic basin the completely negative sentiment of last week surprisingly changed with Transatlantic round voyages reported fixing at USD 2000-3000 although there was still much spot tonnage. Fronthauls ex US Gulf were fixed at USD 13000 with a ballast bonus of USD 300K and there were some rumors for a kamsarmax fixture ex Continent at around USD 14000 plus USD 425k ballast bonus. East Coast South America round voyages were closed at USD 12000-13000 with USD 200K-350 ballast bonus. In the Pacific region the trend was also positive, steadily better than the Atlantic for quite sometime. Nopac round voyages were mostly seen fixing at USD 6000 levels aps + 300k ballast bonus basis redelivery China. At last there was some movement reported in short period market at USD 6000-7000 levels daily for 4/8 months. Supramax: Slow week for supras in both basins. The BSI closed at 795 decreased by 30 points following the festivities in China. In the Atlantic basin, fronthaul trips ex USG to FEAST fixed at around USD 17,000 / USD 18,000 whereas ex BSEA at around USD 14,000. Trips from Continent to Emed closed at around USD 12,750 / USD 13,000 whereas transantlantic round trips at around USD 7,000. Pacific market influenced heavy negatively from Chinese holiday week with trips via Indonesia to ECI have been reported at USD 10,000 bss delivery Singapore and at USD 7,000 bss del CJK. Nickel ore market and nopac didn t produce many cargoes as well as Indian market. Short period fixed at around USD 8,000/ USD 8,250 levels. Handysize: A very slow week Both the index and the physical market suffered throught the week and the Chinese holiday deteriorated the scenery even more. Thus, the transatlantic round was still done at around USD 6/6.500 levels since ECSA remained extremely slow. Coastal trips were done at USD 8,000 while vessels at South Africa could fix USD 4,000 to Med and USD 9,500 for SESIA direction. Trips ex USG/USEC were paying around USD 6/7.000 for Caribs and Continent. In Pacific market was dead with the backhaul remaining at around USD 3,000. Vessels open at PG could not find more than USD 5,000 for WCI/FEAST direction, especially those that cannot call Iran and trips ex Japan/North China range to SEASIA were done at USD 6/6.500. Not much on the period front due to lack of interest of owners 2

Dry Bulk - Chartering Baltic Indices Dry Market (*Friday s closing values) Index Week 40 Week 39 Change (%) BDI 875 766 14,23 BCI 1932 1621 19,19 BPI 598 425 40,71 BSI 795 830-4,22 BHSI 444 472-5,93 T/C Rates (1 yr - $/day) Type Size Week 40 Week 39 Change (%) Capesize 160 / 175,000 11750 10250 14,63 Panamax 72 / 76,000 7500 7250 3,45 Supramax 52 / 57,000 7750 9500-18,42 Handysize 30 / 35,000 7500 7750-3,23 Average Spot Rates Type Size Route Week 40 Week 39 Change % Far East ATL -6000-9000 - Capesize 160 / 175,000 Cont/Med Far East 28500 25500 11,76 Far East RV 12000 7500 60,00 TransAtlantic RV 8750 8000 9,38 Far East ATL -1750-2250 - Panamax 72 / 76,000 ATL / Far East 13000 10250 26,83 Pacific RV 6000 4500 33,33 TransAtlantic RV 3000 1000 200,00 Far East ATL 4000 4000 0,00 Supramax 52 / 57,000 ATL / Far East 14750 15000-1,67 Pacific RV 7500 8250-9,09 TransAtlantic RV 7000 6750 3,70 Far East ATL 3000 3000 0,00 Handysize 30 / 35,000 ATL / Far East 11500 11750-2,13 Pacific RV 4750 5000-5,00 TransAtlantic RV 6750 6500 3,85 3

Dry Bulk - Chartering ANNUAL JULY 2012 OCTOBER 2012 4

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 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 5

Dry Bulk - Chartering Panamax Routes Pacific 2011 /12 $20.000,00 $15.000,00 P3A FE R/V $10.000,00 $5.000,00 P4 FE/CON 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 $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 $0,00 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 S2 FE R/V S3 FE / CON S7 ECI / CHI AVG ALL TC 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 $0,00 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 S2 FE R/V S3 FE / CON S7 ECI / CHI AVG ALL TC 6

Tanker - Chartering VLCC: The generally negative trend remains, mostly because of oversupply of tonnages and reduction in bunker pricings. The middle east showed a small decline in rates on a week-on-week basis. Also twelve more fixtures have been concluded for the Atlantic basin although it is more economical to use Suezmaxes for business. Suezmax: The activity in the markets of Atlantic and Black sea has been steady this week, showing a slight improvement. Aframax: Same as previously, the stability remained in the Afrmax market, with the bunker prices being reduced something which helps the TC equivalents to provide profitability for the owners. Panamax: As the activity in the USG eases and the Cqaribbean market follows, there was a softening in rates. Products: The Caribbean market saw some stability, especially for the CBS-USAC routye, however the transatlantic routes faced some difficulties. Fixtures for Europe showed some gains mostly because of a shortage of tonnages. Baltic Indices Wet Market (*Friday s closing values) Index Week 40 Week 39 Change (%) BCTI 626 642-2,49 BDTI 664 649 2,31 T/C Rates (1 yr - $/day) Type Size Week 40 Week 39 Change (%) VLCC 300.000 19,750 19,750 0,00 Suezmax 150.000 16,750 17,000-1,47 Aframax 105.000 13,750 13,750 0,00 Panamax 70.000 13,000 13,000 0,00 MR 47.000 13,250 13,250 0,00 7

Tanker - Chartering Crude Tanker Average Spot Rates Type Size (Dwt) Route Week 40 WS Week 39 WS Change % 280,000 AG USG 23.25 23.5-1,06 VLCC 260,000 W.AFR USG 40 42.5-5,88 260,000 AG East / Japan 35 36-2,78 Suezmax 135,000 B.Sea Med 60 57.5 4,35 130,000 WAF USAC 57.5 56.5 1,77 80,000 Med Med 77.5 75 3,33 Aframax 80,000 N. Sea UKC 85 85 0,00 80,000 AG East 115 117.5-2,13 70,000 Caribs USG 90 90 0,00 Product Tanker Average Spot Rates Type Size (Dwt) Route Week 40 WS Week 39 WS Change % 75,000 AG Japan 101 98 3,06 Clean 55,000 AG Japan 107 110-2,73 38,000 Caribs USAC 115 115 0,00 37,000 Cont TA 135 147.5-8,47 Dirty 55,000 Cont TA 130 125 4,00 50,000 Caribs USAC 115 115 0,00 8

Tanker - Chartering VLCC Trading Routes 2011 / 12 Suezmax Trading Routes 2011 / 12 Aframax Trading Routes 2011 / 12 9

Tanker - Chartering Clean Trading Routes 2011 / 12 Dirty Trading Routes 2011 / 12 10

Sale & Purchase Positive week for Larger Sizes! On a weekly basis, the BDI showed an increase of approximately 14.23 % and the Capes a 19.19% increase, followed by the BPI which increased by a firm 40%. The information which are received on a daily basis from the physical chartering market regarding smaller and less volatile sizes such as Handies and Handymaxes, tells us that the demand and supply curve is still against them, showing an oversupply of vessels and not many firm businesses. Following the issues which have been faced recently from the drought in the US Gulf and the season end in Brazil, the only positive information is the majority of businesses and fixtures for Grains from the Black Sea, which of course cannot cover the market totally. Considering that all of the above are happening during a large scale Global Financial Crisis; perhaps this could give some positive signs. With some new vessels entering the market for sale mostly form Far East based owners some opportunities may still be arising. This weeks Shiptrade enquiry Index shows a very strong demand for Handysize bulkers of most ages, followed by Handymaxes and Panamaxes all built in the 90ies and slightly more modern. The other enthusiastic factor is that the Interest for Supramaxes has increased; however there is lack of tonnages available for sale. Capesizes of about 12 years upto more modern ones are also on demand, however not on a large scale. On the tanker side, the interest for MR1 and MR2 tankers is as always present on a larger scale; however we have seen some increasing requests for Panamaxes this week, followed by modern Aframaxes and Suezmaxes as it seems modern tonnages are again of interest, following the past interest and acquisitions of late 90ies built tonnages.. NEWBUILDINGS In the newbuilding market, we have seen 10 vessels reported to have been contracted. 6 Bulk carriers (Supramax, Panamax) 2 Tankers (MR) 2 VLGC (83.000 CBM) DEMOLITION Although there has been enough patience for some improvement in the demolition markets, the Information is not helping to keep this thought for the time being, at least for this October. While the Bangladesh market has been silent, eventually those buyers will come out and will start offering strongly as it is always the fact. For the time being though only India is offering acceptable levels and has been showing some stability. The Chinese keep their focus and their offering levels quite low while being patient regarding the results of the European financial situation. We would like to hope that some solution will be found later this month regarding the European financial problems which will force the Chinese to re-examine their position and enable the Bangladesh demo system to re-enter the markets and create competition. 11

Sale & Purchase Indicative Market Values ( 5 yrs old / Mill $ ) Bulk Carriers Week 40 Week 39 Change % Capesize 34 34 0.00 Panamax 22 22 0.00 Supramax 19 19 0.00 Handysize 17 17 0.00 Tankers VLCC 58 58 0.00 Suezmax 44 44 0.00 Aframax 27 27 0.00 Panamax 27 27 0.00 MR 23 23 0.00 Weekly Purchase Enquiries 350 300 250 200 150 100 50 SHIPTRADE P/E WEEKLY INDEX KOREA CHINA SPORE KCS GREECE OTHER SUM 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 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 12

Sale & Purchase Reported Second-hand Sales Bulk Carriers Name Dwt DoB Yard SS Engine Gear Price Buyer New Century Hull 0117631 New Century Hull 0111506 176.000 2012 New Century, CHN - B&W - 115.000 2012 New Century, CHN - B&W - Undisclosed En Bloc with hulls 0108214, 0108215, 0108207 Greek buyers NSS Advance 173.246 1995 Sasebo, JPN 11/2015 B&W - 10 mill Greek New Century Hull 81.500 2012 New Century, CHN - B&W - 0108214 Undisclosed New Century Hull En Bloc with 81.500 2012 New Century, CHN - B&W - 0108215 hulls 0117631, Greek New Century Hull 0111506 81.500 2012 New Century, CHN - B&W - 0108207 Arrozero Tres 57.000 2011 Jiangdong, CHN - B&W 4 X 30 T Chungo Tres 57.000 2011 Jiangdong, CHN - B&W 4 X 30 T 74 mill En Bloc Minero Tres 57.000 2011 Jiangdong, CHN - B&W 4 X 30 T (Bank Sale) Destino Dos 28.495 2001 Kanda, JPN 06/2017 B&W 4 X 30 T Allseas Ignacy Daszynski 33.580 1988 Szczecin, POL - Sulzer - Undisclosed Undisclosed Sea Fate 21.341 1983 Watanabe, JPN 10/2013 B&W 3 X 25 T Cr, 1 X 2.5 mill Chinese 25 T Der Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer Seaeden 45.983 2007 Kurushima, JPN 04/2017 B&W DH 18.5 mill Greek 13

Newbuildings Newbuilding Orders No Type Dwt / Unit Yard Delivery Owner Price 2 BC 76.000 Taizhou 2014 MSt Mineralien 25-26 mill 2 + 2 BC 50.000 Hyundai Mipo 2014 D Amico 33 mill 2 Tanker 50.000 Santier. Naval 2014 Petromin 33 mill 2 VLGC 83.000 Jiangnan 2014 Fontline 63.5 mill Newbuilding Prices (Mill $) Japanese/ S. Korean Yards Newbuilding Resale Prices Bulk Carriers Capesize 45 42 Panamax 31 29 Supramax 29 27 Handysize 23 21 Tankers VLCC 93 85 Suezmax 60 58 Aframax 47 42 Panamax 40 37 MR 34 31 Newbuilding Resale Prices Bulk Carriers (2008 Today) Tankers (2008 Today) 14

Demolitions Demolition Sales Vessel Type Built Dwt Ldt Buyer Country Price Erradale Star BC 1994 163.554 22.750 India 420 Jasmin BC 1985 36.663 10.328 India 403 Montevideo Reefer 1983 8.489 4.992 India 390 R. Partner Container 1994 20.255 6.709 India 445 Union Force Tanker 1984 19.862 5.194 India 444 Venus N Bulker 1986 41.630 8.152 India 426 Lion Tanker 1989 46.538 9.550 Pakistan 435 Panamax Leader Bulker 1989 61.803 11.696 China 323 Demolition Prices ($ / Ldt) Bangladesh China India Pakistan Dry 36 310 410 405 Wet 385 330 435 430 Demolition Prices Bulk Carriers (2008 Today) Tankers (2008 Today) 15

Financial Market Data Shipping Stocks Dry Bulk Company Stock Exchange Week 40 Week 39 Change % Baltic Trading Ltd (BALT) NYSE 3,11 3,24-4,01 Diana Shipping Inc (DSX) NASDAQ 6,75 6,47 4,33 Dryships Inc (DRYS) NASDAQ 2,29 2,34-2,14 Euroseas Ltd (ESEA) NASDAQ 1,15 1,16-0,86 Excel Maritime Carriers (EXM) NYSE 0,62 0,69-10,14 Eagle Bulk Shipping Inc (EGLE) NASDAQ 3,48 3,62-3,87 Freeseas Inc (FREESE) NASDAQ 0,21 0,23-8,70 Genco Shipping (GNK) NYSE 3,87 3,70 4,59 Navios Maritime (NM) NYSE 3,68 3,62 1,66 Navios Maritime PTN (NMM) NYSE 15,11 14,79 2,16 Paragon Shipping Inc (PRGN) NASDAQ 0,45 0,43 4,65 Star Bulk Carriers Corp (SBLK) NASDAQ 0,63 0,60 5,00 Seanergy Maritime Holdings Corp (SHIP) NASDAQ 1,81 2,08-12,98 Safe Bulkers Inc (SB) NYSE 5,82 5,79 0,52 Golden Ocean (GOGL) Oslo Bors (NOK) 4,35 4,08 6,62 Tankers Capital Product Partners LP (CPLP) NASDAQ 8,19 8,17 0,24 TOP Ships Inc (TOPS) NASDAQ 1,14 1,11 2,70 Tsakos Energy Navigation (TNP) NYSE 4,98 5,19-4,05 Other Aegean Maritime Petrol (ANW) NYSE 6,24 6,06 2,97 Danaos Corporation (DAC) NYSE 3,03 3,25-6,77 StealthGas Inc (GASS) NASDAQ 6,52 6,79-3,98 Rio Tinto (RIO) NYSE 47,77 46,77 2,14 Vale (VALE) NYSE 17,70 17,90-1,12 ADM Archer Daniels Midland (ADM) NYSE 28,17 27,19 3,60 BHP Billiton (BHP) NYSE 67,94 68,62-0,99 Commodities Commodity Week 40 Week 39 Change (%) Brent Crude (BZ) 113,70 111,85 1,65 Natural Gas (NG) 3,35 3,47-3,46 Gold (GC) 1765 1779-0,79 Copper 371,20 379,40-2,16 Wheat (W) 346,40 353,47-2,00 16

Financial Market Data / Bunker Prices / Port Congestion Currencies Week 40 Week 39 Change (%) EUR / USD 1,30 1,28 1,56 USD / JPY 78,68 77,61 1,38 USD / KRW 1110 1113-0,27 USD / NOK 5,67 5,72-0,87 Bunker Prices IFO 380 IFO 180 MGO Piraeus 635 670 1010 Fujairah 630 652 1030 Singapore 628 635 955 Rotterdam 610 635 975 Houston 620 685 1045 Port Congestion* Port No of Vessels China Rizhao 14 Lianyungang 33 Qingdao 56 Zhanjiang 25 Yantai 29 India Chennai 6 Haldia 14 New Mangalore 10 Kakinada 9 Krishnapatnam 21 Mormugao 9 Kandla 21 Mundra 15 Paradip 12 Vizag 46 South America River Plate 237 Paranagua 38 Praia Mole 14 * 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 40 of year 2012. 17