Feb-2 Jun-2 Oct-2 Feb-3 Jun-3 Oct-3 Feb-4 Jun-4 Oct-4 Feb-5 Jun-5 Oct-5 Feb-6 Jun-6 Oct-6 Feb-7 Jun-7 Oct-7 Feb-8 Jun-8 Oct-8 Feb-9 Jun-9 Oct-9 Feb-1 Jun-1 Oct-1 Feb-11 Jun-11 Oct-11 Feb-12 12 1 8 6 4 2 17-19, Vas. Pavlou Str., GR 166 73, Voula, Athens, Greece Tel: 21 96597 - Fax: 21 89964 Internet Mail: athenian@atheniansa.gr M O N T H L Y R E P O R T Baltic Dry Index February 212 PRICES TANKERS ($ MIO) * Prices reflect Year s End 27* 28* 29* 21* 211* Feb-12 VLCC 5Y 136. 155.8 78. 87.8 55.6 55.7 VLCC 1Y 114.5 131. 59.5 64.3 34.1 34.5 SUEZMAX 5Y 95.5 16. 57. 62.8 45.6 45.1 AFRAMAX 5Y 7. 76.8 4.5 44.5 34.7 34.4 AFRAMAX1Y 6. 64.7 23.5 3.7 19.3 19.1 PANAMAX5Y 6.4 61. 35.5 39. 3.9 28.2 45K 5Y D/H 53. 52.7 23.5 27.3 25.8 25.5 45K 1Y D/H 44.7 43.2 16. 19.7 15.8 15.6 45K 2Y 12.8 1. 4. 6.7 6. 6. PRICES BULKERS ($ MIO) * Prices reflect Year s End 27* 28* 29* 21* 211* Feb-12 CAPESIZE 5Y 148. 45.5 54.5 57. 36.3 36. CAPESIZE 1Y 13. 3. 45. 43. 26.8 26.6 CAPESIZE 15Y 88.5 21. 28. 26. 15.2 15.1 CAPESIZE 2Y 6. 15.2 16.5 16.4 1.5 1.2 PANAMAX 5Y 89. 25.5 35. 38.5 26.4 25.9 PANAMAX 1Y 71.5 19. 27.5 31.6 18.6 18.1 PANAMAX 15Y 61. 12.5 22. 23.1 12.4 12. PANAMAX 2Y 44. 9.2 12. 13.8 8.1 7.8 SUPRAMAX 5Y 74.5 24. 27.5 31.9 26.4 25.8 HANDYMAX1Y 6.5 18.2 22. 24.7 18. 15.9 HANDYMAX15Y 46. 13. 17.5 2. 11.1 1.4 HANDYMAX2Y 36. 7.4 11. 12. 7.9 7.6
Price (USD) Price (USD Mio) 2 S E C O N D H A N D S A L E S & C H A R T E R F I X T U R E T R E N D S 18. Monthly Tanker Market Trend 16. 14. 12. 1. 8. 6. 4. 2. VLCC 5Y VLCC 1Y SMAX 5Y AMAX 5Y AMAX 1Y PMAX 5Y 45K 5Y D/H 45K 1Y D/H. 1 Monthly 1 Yr TC Rates 9 8 7 6 5 4 3 2 VLCC 1 Yr T/C SMAX 1 Yr T/C AMAX 1 Yr T/C PMAX 1 Yr T/C MR 1 Yr T/C 1
Price (USD) Prices (USD Mio) 3 16. Monthly Bulk Carrier Market Trend 14. 12. 1. 8. 6. 4. 2. CAPE 5Y CAPE 1Y CAPE 15Y PMAX 5Y PMAX 1Y PMAX 15Y SUPRA 5Y HMAX 5Y HMAX 1Y HMAX 15Y. 18 Monthly 1 Yr TC Rates 16 14 12 1 8 6 4 CAPE 1 Yr T/C PMAX 1 Yr T/C SUPRA 1 Yr T/C HMAX 1 Yr T/C 2
4 S E C O N D H A N D T O N N A G E M A R K E T S&P Activity Dry (<5, Dwt) AVAILABLE FOR SALE REPORTED SOLD PREVIOUS MONTH A/BLE FOR SALE PREVIOUS MONTH SALES S&P Activity Tankers (<5, Dwt) AVAILABLE FOR SALE REPORTED SOLD PREVIOUS MONTH A/BLE FOR SALE PREVIOUS MONTH SALES 6 3 4 2 478 445 24 23 THIS MONTH - PREVIOUS MONTH 2 1 193 161 16 18 THIS MONTH - PREVIOUS MONTH *Excluding demolition sales Sale and Purchase Market - Second Hand units Ship Type Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Total BULK 32 37 46 28 21 24 188 TANK 23 24 29 19 18 16 129 GAS 2 1 6 3 2 23 CONT 14 14 6 3 3 4 44 TWEEN 2 2 2 2 8 REEF 1 6 1 8 RORO 1 1 1 3 FERRY 1 1 CRUISE 1 1 2 Total 73 94 85 58 48 48 46
5 Baltic Clean Tanker - Yearly 1 9 892 98 8 7 6 659 65 653 5 4 9 12 15 18 21 24 27 3 33 36 39 42 45 48 51 2 5 8 211 WEEK NO 212 Baltic Dirty Tanker - Yearly 11 147 1 93 9 842 8 7 784 788 734 6 674 5 9 12 15 18 21 24 27 3 33 36 39 42 45 48 51 2 5 8 211 WEEK NO 212 9 Baltic Clean Tanker - Monthly 85 Baltic Dirty Tanker - Monthly 8 7 6 645 666 74 733 83 81 79 77 822 81 795 782 789 817 798 5 26/1/212 2/2/212 9/2/212 16/2/212 23/2/212 75 26/1/212 2/2/212 9/2/212 16/2/212 23/2/212 TANKER SALES NAME DWT BLT PRICE $ BUYER GOLDEN ORIENT 6275 1997 JAPAN DH 5 MIO ASIAN (Stst Tanker) CHARTSMAN 6397 1993 MALAYSIA DH 3.3 MIO NIGERIAN EASTERN GOODWILL 874 21 JAPAN DH 8.3 MIO GREEK GOLDEN MICRONESIA 991 24 JAPAN DH 9 MIO STENA CARIBBEAN 9996 22 POLAND DH 13 MIO WILMAR, SINGAPORE (Stst Tanker) AUSTRALIAN (Incl TC Attached to Chevron at Usd 165 Pd till end 212) KOHZAN MARU II 19997 1989 JAPAN DS 3.5 MIO INDONESIAN CLIPPER MIKI 19998 29 JAPAN DH 23.6 MIO EUROPEAN (Stst Tanker) KING EDWIN 35775 2 S.KOREA DH 12.75 MIO GREEK STI MATADOR 481 23 S.KOREA DH * ENBLOC BSS STI GLADIATOR 481 23 S.KOREA DH * ENBLOC BSS STI CONQUEROR 4158 25 S.KOREA DH 54 MIO UNDISCLOSED (Total Price) ZYGI 44484 1992 CHINA DH 5 MIO THAI SELENDANG PERMATA 45974 1997 CHINA DH 8.5 MIO UNDISCLOSED DOUBTLESS 4776 1991 S.KOREA DH 6.3 MIO INDIAN BOX 5366 29 S.KOREA DH 29.5 MIO UNDISCLOSED DALMACIJA 96168 1996 S.KOREA DH 1 MIO M3 ENERGY, MALAYSIA GAS SALES NAME DWT BLT CBM PRICE $ BUYER HAYDOCK 4313 21 JAPAN 41 12 MIO PETROLIFT ORIENTAL OKI 535 26 JAPAN 4919 15 MIO UNDISCLOSED
$/Day $/Day 6 Spot Market - Tankers VLCC SUEZMAX AFRAMAX 735 635 535 435 335 235 135 35 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 23246 2169 12726 Period Market - Tankers 1 Year T/C VLCC SUEZMAX AFRAMAX 35 3 25 2 15 1 5 248 1685 1295 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Baltic Handysize 5 45 4 416 395 35 366 3 2 25 2 26/1/212 2/2/212 9/2/212 16/2/212 23/2/212 Baltic Supramax 75 721 7 678 652 65 641 6 6 2 55 5 26/1/212 2/2/212 9/2/212 16/2/212 23/2/212
7 Baltic Panamax Baltic Capesize 11 154 1525 118 152 1 931 15 9 148 1468 815 146 8 836 4 144 1447 4 1452 38 44 4 142 1436 7 726 14 681 6 138 26/1/212 2/2/212 9/2/212 16/2/212 23/2/212 26/1/212 2/2/212 9/2/212 16/2/212 23/2/212 BULKER SALES NAME DWT BLT GEAR PRICE $ BUYER PORT TEJO 5313 1993 POLAND CR 2X3 2.85 MIO INDONESIAN HAI SUNG 7435 1997 S.KOREA DR 2X3, DR 2X25 2.5 MIO HARBOUR GEMINI 7988 1984 JAPAN DR 2X2, DR 2X15 1.4 MIO UNDISCLOSED (Logger) KOPALNIA HALEMBA 11715 199 POLAND CR 4X16, CR 1X12.5 3.25 MIO UNDISCLOSED CASTOR 12334 1982 JAPAN CR 2X15 2.5 MIO UNDISCLOSED ACE DRAGON 2428 1997 JAPAN CR 4X31 8 MIO UNDISCLOSED (Logger) DIAMOND GLORY 28515 1997 JAPAN CR 4X3 9.2 MIO TURKISH GOOD PILGRIMS 294 29 INDIA CR 4X3 17.7 MIO UNDISCLOSED (Via Auction, Asis Thailand) PRECIOUS SHIPPING, THAILAND KEN ANN MARU 32115 1997 JAPAN CR 4X3 9 MIO UNDISCLOSED ALADDIN RAINBOW 3226 1999 JAPAN CR 4X3 1.5 MIO UNDISCLOSED AFRICAN ZEBRA 38623 1985 TAIWAN CR 4X25 4.2 MIO SINGAPOREAN SEALIGHT 4193 1984 JAPAN CR 4X25 4.2 MIO UNDISCLOSED ARCADIA 41455 1995 BULGARIA CR 4X3 11.47 MIO GREEK (Via Auction) SLOVENIJA 41526 1985 JAPAN CR 4X25 4.8 MIO UNDISCLOSED AFRICAN STAR 424 1991 JAPAN CR 4X25 8.5 MIO UNDISCLOSED MAGIC FORTIS 42512 1985 JAPAN CR 4X25 4.2 MIO UNDISCLOSED ID NORD 4664 1999 JAPAN CR 4X31 14.5 MIO UNDISCLOSED SANKO GALAXY 5298 25 JAPAN CR 4X3 2.5 MIO GREEK ABG 315 54 212 INDIA CR 4X3 28.2 MIO UNDISCLOSED NEWLEAD ESMERALDA 69458 199 JAPAN GLESS 11 MIO GREEK SAGARKIRAN 7335 1995 S.KOREA CR 4X25 11 MIO UNDISCLOSED WASHINGTON TRADER 74228 2 JAPAN GLESS * ENBLOC BSS GOLDBEAM TRADER 74247 21 JAPAN GLESS 31 MIO UNDISCLOSED
$/Day $/Day 8 35 3 25 2 15 1 5 Spot Market - Bulkers Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 1262 4731 3132 CAPESIZE PANAMAX HANDYMAX 25 2 Period Market - Bulkers 1 Year T/C CAPE PMAX HANDYMAX 15 1 5 15475 1523 825 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 CONTAINER SALES NAME DWT BLT GEAR TEU PRICE $ BUYER CONDOR I 18395 1995 POLAND CR 2X43 1129 4.2 MIO UNDISCLOSED (Via Auction) ASTOR 18395 1995 POLAND CR 2X43 1129 4.2 MIO UNDISCLOSED (Via Auction) OOCL SHANGHAI 67584 1999 S.KOREA GLESS 5762 * ENBLOC BSS OOCL NEW YORK 6766 1999 S.KOREA GLESS 5762 27 MIO OOCL, CHINA (Chrtrs Declared Purchase Option) RORO SALES NAME GT BLT LANE MTS/CARS PAX PRICE $ BUYER LYUBOV ORLOVA 4251 1976 YUGOSLAVIA 112.275 MIO CARIBBEAN (Via Auction) HERMES 862 1998 JAPAN 6.5 MIO FAR EASTERN
$m $m 9 N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C TS Tanker Prices VLCC Suezmax Aframax MR Bulker Prices Capesize Panamax Handymax Handysize 12 7 1 8 6 4 2 1 97.3 58.9 51.3 533.4 3 6 5 4 3 2 1 47.3 5 27.5 25.4 22.3 Feb-1 Jun-1 Oct-1 Feb-11 Jun-11 Oct-11 Feb-12 Feb-1 Jun-1 Oct-1 Feb-11 Jun-11 Oct-11 Feb-12 Dry Bulk Orderbook Ship Type 212 (deliv) 212 213 214 215 216 217+ Total VLOC 4 48 14 1 2 74 Capesize 32 149 77 13 8 247 Small Cape 21 117 29 8 154 Panamax 52 42 25 51 676 Supramax 55 48 19 2 1 619 Handys 51 31 169 25 2 56 Total 215 1452 684 127 13 2276 Tanker Orderbook Ship Type 212 (deliv) 212 213 214 215 216 217+ Total ULCC/VLCC 8 59 48 9 116 Suezmax 7 57 37 4 98 Aframax 9 5 26 9 85 Panamax 3 2 17 2 39 MR 9 68 67 16 151 Handy 2 12 4 16 Total 38 266 199 4 55 LPG Tank Orderbook Ship Type 212 (deliv) 212 213 214 215 216+ Total VLGC 2 12 1 15 LGC MR 2 2 2 Handy 12 11 4 1 28 Small 3 47 1 3 2 62 Total 5 61 35 8 3 17
m. dwt m. dwt No. of Vessels m. dwt 1 Newbuilding Sales 1 9 8 7 6 5 4 3 2 1 215 972 121 481.8 611.1 196.6 Tankers >1, dwt Bulkers >1, dwt Containerships 82 19.3 21 211 Feb-12 48.9 Delivery Schedule Bulkers >1, dwt. 14 Tankers >1, dwt 122.5 12 1 8 6 44.5 54.2 4 29.1 2 12.7 8.4 Feb-12 213 214+ 45 4 35 3 25 2 15 1 5 VLCC Aframax Products 38.5 19.5 11 9.5 3.3 February 212 Tanker Newbuildings on Order Suezmax Panamax Bulker Newbuildings on Order Capesize Panamax Handymax Handysize 9 81.3 8 7 58.9 6 5 32.8 4 3 16.9 2 1 February 212 Newbuilding Historical Prices ($m) Tankers Feb-12 211 21 29 28 27 26 25 24 2 1995 199 1985 31, DWT 1 97.3 98.9 14.8 97.5 15 145 13 12 18 76.5 85.3 87.4 2 38.2 17, DWT 1 58.9 6.3 66.3 61 9 9 8 71.5 71 52.5 54 66.1 11, DWT 1 51.3 52.2 56 49.5 74 72 65.5 58 6 41.5 43.3 53.2 47, DWT 1 33.4 35.2 36.1 35 46.5 52 47 43 39 29.5 33.2 Bulkers 18, DWT 1 47.3 48.4 57.2 55.5 87 96 67 58.5 64.5 4.5 42.3 6.2 29.3 73, DWT 1 27.5 28.7 34.3 34.5 45.5 54 39.5 36 37 22.5 27.9 3 13.4 45, DWT 25.4 26.7 31.1 29 41 47.5 37 31 3 2.5 24.1 25.3 12.4 29, DWT 22.3 22.2 26.3 24.5 31 34 27.5 25.5 24 15 19.2 21.3 9.7 3 32.1 2 28.2 2 18.1 3 13.3 1 Before 21 sizes to read 28, - 14, - 95, - 4, respectively for tankers and 15, - 69, for Bulkers 2 Single Hull 3 3, DWT (note: above is for vessels built Japan / Korea, you should also consider US$ / Yen / Won relation for the years mentioned)
11 The Shipbuilding Market TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES AHTS 5 Shin Yang Shipyard 213 Ocean Mainport AHTS 5 Shin Yang Shipyard 213 Ocean Mainport AHTS 5 Shin Yang Shipyard 213 Ocean Mainport Asphalt / Bitu 5 Sedef Gemi End. 213 Elcano BULK 82 STX Shipbuilding 213 33 Mio Efnav Co. Ltd. BULK 82 STX Shipbuilding 213 33 Mio Efnav Co. Ltd. BULK 82 STX Shipbuilding 213 33 Mio Efnav Co. Ltd. BULK 82 STX Shipbuilding 213 33 Mio Efnav Co. Ltd. BULK 1863 Shanghai Waigaoqiao 214 49,8 Mio U-Ming Marine Transport BULK 1863 Shanghai Waigaoqiao 214 49,8 Mio U-Ming Marine Transport BULK 1863 Shanghai Waigaoqiao 214 49,8 Mio U-Ming Marine BULK 1863 Shanghai Waigaoqiao 214 49,8 Mio Transport U-Ming Marine Transport BULK 759 Jiangsu Rongseng 214 Dryships Inc. BULK 759 Jiangsu Rongseng 214 Dryships Inc. BULK 759 Jiangsu Rongseng 214 Dryships Inc. BULK 759 Jiangsu Rongseng 214 Dryships Inc. BULK 8 Imabari S.B. 214 Unknown BULK 8 Imabari S.B. 214 Unknown Catamaran 34 Austal Ships 215 46 Mio Aremiti Pacific CONT 55 Jinling Shipyard 214 54 Mio Dietrich Tamke K.G. Drillship Jurong Aracruz 215 792,5 Mio Petrobras Drillship Engevix 216 Etesco Drillship Engevix 216 Etesco Drillship Engevix 216 Etesco Drillship Constructora Norbert 217 Etesco Drillship Constructora Norbert 217 Etesco FSRU/LNG Hyundai H.I. 214 Hoegh LNG LNG 85 Hyundai Samho 214 2 Mio Golar LNG LNG 85 Hyundai Samho 214 2 Mio Golar LNG LNG 85 Hyundai H.I. 214 Unknown LNG 85 Hyundai H.I. 215 Unknown LPG 59 Hyundai H.I. 214 Pertamina Direktorat LPG 26 Hyundai Mipo 213 5 Mio Sovcomflot JSC LPG 26 Hyundai Mipo 213 5 Mio Sovcomflot JSC LPG 59 Hyundai H.I. 214 Pertamina Direktorat PSV 48 Wuchang Shuangliu 213 Shanghai Salvage Co PSV 45 Alianca Shipyard 213 Sao Miguel Nav. PSV 45 Alianca Shipyard 213 Sao Miguel Nav. PSV 45 Alianca Shipyard 213 Sao Miguel Nav. PSV 45 Alianca Shipyard 213 Sao Miguel Nav. PSV 51 Simek A/S 213 6 Mio Gulf Offshore NS PSV 33 Damen Galati 213 94,76 Mio WWS PSV 33 Damen Galati 213 94,76 Mio WWS RORO 6 Mitsubishi H.I. 213 Nippon Express TANKER 11 Daewoo 214 Kuwait Oil Tanker TANKER 317 Daewoo 214 Kuwait Oil Tanker TANKER 317 Daewoo 214 Kuwait Oil Tanker TANKER 317 Daewoo 214 Kuwait Oil Tanker TANKER 317 Daewoo 214 Kuwait Oil Tanker TANKER 51 Korean 214 35,5 Mio Navios Acquisition TANKER 51 Korean 214 35,5 Mio Navios Acquisition TANKER 51 Korean 214 35,5 Mio Navios Acquisition TANKER 52 SPP Shipbuilding 214 Unknown TANKER 52 SPP Shipbuilding 214 Unknown
12 D E M O L I T I O N M A R K E T Demolition Prices Gen Cargo Tanker India USD 47 /lt Ldt USD 5 /lt Ldt Bangladesh USD 46 /lt Ldt USD 49 /lt Ldt Pakistan USD 465 /lt Ldt USD 495 /lt Ldt China USD 41 /lt Ldt USD 43 /lt Ldt Demolition Historical Average Prices $ 58 53 48 43 38 33 28 23 18 48 479 Tankers 29 21 211 212 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC $ 58 53 48 43 38 33 28 23 18 Bulkers 29 21 211 212 456 451 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Year 13 212 211 21 29 28 27 26 25 24 23 22 21 2 1999 1998 1997 1996 1995 1994 1993 1992 1991 199 1989 1988 1987 1986 1985 1984 1983 1982 1981 3.8 2.35 4.6 4.9 6.44 5 6.5 5.5 1 12 Total Demolition 13.4 15.6 15.5 18 14.5 16.7 18.9 15.9 22.4 25 25.7 25.6 28.9 27 28.5 28.4 26.9 27 28.65 3.5 31.58 5 1 15 2 25 3 35 4 Million dwt 38 India TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK NAMA 14312 1988 4735 482 BULK MALLAK 1827 1981 55 5 BULK OCEAN STAR 23793 1982 5945 5 BULK AGIOS NECTARIOS I 23969 1982 5734 492 BULK ANDRA 25637 198 7796 52 BULK ZOITSA 26991 1978 6442 5 BULK OCEAN LEADER 2897 1984 64 55 BULK SIAM STAR 29617 1984 6232 52 BULK BM FREEDOM 31247 198 8894 453 Asis Dubai BULK BESTKING 34698 1983 7933 475 BULK SERVET Y 3578 1983 8344 48 BULK DONNA 37636 1984 7726 495 BULK MIRANDA 4416 1979 14275 5 BULK HUA JIN HU 58412 1981 11596 485 BULK PANAMAX SUCCESS 63378 1983 12197 5 BULK BOSCO SUN 6415 1982 1215 55 BULK BOSCO DAWN 691 1983 12367 52 BULK THEOTOKOS 71242 1984 13943 517 High content in Non-Ferrous material BULK OCEAN QUEEN 187864 1987 23138 43 Asis S.Korea Incl 25 T Bunkers RoB COMBO SEAGREEN 43549 1987 125 482
14 CONT TROYBURG 26152 1988 754 475 Asis Spore With 5 T Bunkers RoB CONT REUNION 28422 1983 855 476 CONT KOTA SELAMAT 35615 1983 12861 52 Asis Khor Fakkan With Sufficient Bunkers RoB CONT KHALED IBN AL WALEED 35615 1983 12858 514 Asis Khor Fakkan With Bunkers RoB CONT AL MANAKH 35615 1983 12888 519 Asis Khor Fakkan With Bunkers RoB CONT MSC ANAHITA 36377 1985 12876 55 REEF NOVA FRIESIA 6568 1987 3525 49 REEF VIKING STAR 9157 1991 4124 485 Asis Fujairah with sufficient Bunkers RoB REEF YASAKA BAY 1647 1983 553 489 REEF NAPIER STAR 11822 1994 528 575 Asis Fujairah Incl 262 T Aluminium REEF NELSON STAR 11831 1993 5288 575 Asis Fujairah Incl 262 T Aluminium TANK ST. JAMES PARK 13924 1993 3869 63 Stst Tanker TANK BRUCE PARK 1394 1992 3868 62 Stst Tanker TANK GEMINI 2987 1986 9199 495 TANK ZEINAT 3 68232 1995 16248 515 TANK REINA SOFIA 31169 1995 4963 49 Bangladesh TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK STRAIT CHALLENGER 23418 1982 5994 496 Incl 3 T Bunkers RoB BULK BM HOPE 26126 1978 82 * Enbloc Bss CONT BM INTREPID 1931 1983 594 * Enbloc Bss TWEEN BM ADVENTURE 1752 198 6478 * Enbloc Bss TWEEN BM DEFENDER 22882 1981 845 453 Asis Chittagong BULK YASIN C 36318 1982 8832 475 BULK KS TRADER 42943 1982 819 475 BULK CEBU STAR 45546 1982 9759 491 BULK BINTAN STAR 69397 1984 16859 485 BULK EVER BRIGHT 148982 1987 24515 492 Incl 45 T IFO RoB BULK HEBEI FOREST 149212 1989 17198 55 TANK VIGOUR 86591 1995 21687 512 China TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK TIAN YU 6269 1981 1924 39 BULK TIWAI MARU 1873 1984 4989 44 BULK GANNET ARROW 3926 1985 11519 43 BULK FINCH ARROW 39273 1984 11796 43 BULK DAIO ANDES 44315 1989 8664 43 BULK BEST GRACE 63578 1981 1167 42 BULK HYUNDAI COSMOS 163256 1986 283 443 Asis N. China With 45 T Bunkers REEF BALTIJAS CELS 1335 1988 9398 41 TANK SHUN XING 6818 1985 1656 42 Approx Ldt due to conversion
15 Pakistan TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK BM PRIDE 18982 1983 7176 453 Asis Karachi BULK SEA BIRD 63868 1984 11739 517 Incl 25 T Bunkers RoB BULK PEARL C 65622 1987 11551 52 BULK PIONEER EPOS 7547 1981 13397 475 TANK BRILLIANT JEWEL 247471 1989 41 55 TANK SUNLIGHT JEWEL 32326 1993 49 55 Other TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK SEA DREAM 26223 1981 7296 5 India/Pakistan Rng. Incl Full spares on board BULK DON RAUL 37695 1984 7292 32 Asis Rosario (Argentina) TANK ISABEL BARRETO 25243 1986 6954 327 Asis Peru TANK ANDOAS 3265 1987 921 327 Asis Peru TANK SAMIRIA 4439 1987 8951 327 Asis Peru
$/Barrel USD-EUR USD-JPY 16 M A R K E T I N D I C A T O R S 1.8 1.6 1.4 1.2 1..8.6 Currencies.4 1/2/11 1/4/11 1/6/11 1/8/11 1/1/11 1/12/11 1/2/12 USD-EUR USD-JPY 15 1 95 9 85 8 75 7 14. Brent Oil 13. 12. 11. 1. 9. 8. 7. 6. 1/2/11 1/4/11 1/6/11 1/8/11 1/1/11 1/12/11 1/2/12 GBP CAD EUR JPY CHF USD AUD GBP 1.6332.8475.7841.733.631.6792 CAD 1.5799 1 1.3389.12387 1.111.9968 1.729 EUR 1.181.7471 1.9252.8298.7446.814 JPY 127.568 8.761 18.14 1 89.719 8.4823 86.6318 CHF 1.4223.95 1.253.11151 1.8974.966 USD 1.585 1.35 1.3432.12427 1.1146 1 1.764 AUD 1.4727.9324 1.2481.11546 1.356.9292 1 * 28/2/212 values
17 S T O C K W A T C H NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW NewLead Holdings NEWL.95.7 35.7 3.88.4 Capital Product Partners CPLP 7.56 7.58 -.3 11.39 4.85 Diana Shipping DSX 8.94 8.36 6.9 12.66 6.59 Dryships DRYS 3.48 2.19 58.9 5.12 1.75 Eagle Bulk EGLE 1.74 1.32 31.8 4.17.88 Euroseas ESEA 2.95 2.91 1.4 5.28 2.15 Excel Martime EXM 1.88 1.54 22.1 5.22 1.37 Freeseas FREE 1.23.41 2 3.49.36 Genco Shipping&Trading GNK 6.85 7.45-8.1 12.5 4.15 Costamare Inc. CMRE 14.43 14.83-2.7 18.48 1.93 Goldenport GPRT 67.67 6.78 11.3 115.61 57. Navios NM 4.13 3.63 13.8 5.99 2.88 GasLog LNG Services GLOG N/A N/A N/A N/A N/A Paragon PRGN.91.63 44.4 3.2.55 Safe Bulkers SB 7.13 6.86 3.9 9.78 5.28 Star Bulk SBLK 1.1.98 3.1 2.65.86 Stealthgas GASS 4.76 4.41 7.9 7.2 3.4 TEN TNP 6.45 6.35 1.6 11.18 4.78 TOP Ships TOPS N/A N/A N/A 11.6 2.86 * 28/2/212 closing values IPO Pending Disclaimer: Information and data that appear in this report have been obtained from various sources which are believed to be correct and reliable. However, Athenian Shipbrokers S.A. does not guarantee their accuracy or completeness and therefore cannot be held liable for any loss incurred as a result of reliance in any way whatsoever on the information contained herein. Kind Regards,