Mar-6 Jul-6 Nov-6 Mar-7 Jul-7 Nov-7 Mar-8 Jul-8 Nov-8 Mar-9 Jul-9 Nov-9 Mar-1 Jul-1 Nov-1 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 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(at)atheniansa(dot)gr M O N T H L Y R E P O R T Baltic Dry Index March 216 PRICES TANKERS ($ MIO) * Prices reflect Year s End 21* 211* 212* 213* 214* 215* Mar-16 VLCC 5Y 87.8 55.6 56. 55.8 77.1 8 76 VLCC 1Y 64.3 34.1 35. 35. 52.1 55 56 SUEZMAX 5Y 62.8 45.6 4.2 39.5 56.8 6 53.7 AFRAMAX 5Y 44.5 34.7 28. 27.8 41.9 46 4 AFRAMAX1Y 3.7 19.3 16.3 16.3 26.8 31 27 PANAMAX5Y 39. 3.9 24.3 24.3 33.4 35 35.8 45K 5Y D/H 27.3 25.8 23. 23.3 23.8 28.9 27.3 45K 1Y D/H 19.7 15.8 15.5 15.7 15.2 19.6 2 45K 2Y 6.7 6. 6.2 6.2 6.5 8.5 8 PRICES BULKERS ($ MIO) * Prices reflect Year s End 21* 211* 212* 213* 214* 215* Mar-16 CAPESIZE 5Y 57. 36.3 32. 43.9 39.5 25 23.7 CAPESIZE 1Y 43. 26.8 2.5 31. 27.8 13.6 12 CAPESIZE 15Y 26. 15.2 12.7 18.2 16.3 8.5 7 CAPESIZE 2Y 16.4 1.5 9.3 1.1 9. 5.6 5 PANAMAX 5Y 38.5 26.4 18. 25.6 2.1 14 13 PANAMAX 1Y 31.6 18.6 12.5 17.9 14.6 8.5 8 PANAMAX 15Y 23.1 12.4 8.3 12. 1. 5 3.6 PANAMAX 2Y 13.8 8.1 5.4 7.5 5.4 3.6 2.7 SUPRAMAX 5Y 31.9 26.4 23.3 24.3 2.8 13.6 12
Prices (USD Mio) Price (USD) Price (USD Mio) Price (USD) 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 1. Monthly Tanker Market Trend 7 Monthly 1 Yr TC Rates 9. 8. 6 7. 5 6. 5. 4 4. 3 3. 2 2. 1. 1. VLCC 5Y VLCC 1Y SMAX 5Y AMAX 5Y VLCC 1 Yr T/C SMAX 1 Yr T/C AMAX 1 Yr T/C AMAX 1Y PMAX 5Y 45K 5Y D/H 45K 1Y D/H PMAX 1 Yr T/C MR 1 Yr T/C 7. Monthly Bulk Carrier Market Trend 4 Monthly 1 Yr TC Rates 6. 35 5. 3 4. 3. 2. 1.. 25 2 15 1 5 CAPE 5Y CAPE 1Y CAPE 15Y PMAX 5Y PMAX 1Y PMAX 15Y SUPRA 5Y HMAX 1Y HMAX 15Y CAPE 1 Yr T/C SUPRA 1 Yr T/C PMAX 1 Yr T/C HMAX 1 Yr T/C
3 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 3 2 2 1 276 49 264 35 15 1 5 162 28 151 23 THIS MONTH - PREVIOUS MONTH THIS MONTH - PREVIOUS MONTH *Excluding demolition sales Sale and Purchase Market Ship Type Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Total BULK 36 41 46 41 35 49 24 TANK 19 29 2 26 23 28 145 GAS 8 1 2 2 4 2 19 CONT 12 9 6 4 4 14 49 TWEEN/MPP 2 1 2 7 7 19 REEF 1 1 RORO 2 2 FERRY 1 1 CRUISE Total 77 83 78 73 73 1 484
4 Baltic Clean Tanker - Yearly 95 835 85 75 71 65 55 45 458 35 14 17 2 23 26 29 32 35 38 41 44 47 5 1 4 7 1 13 215 WEEK NO 216 11 1 9 8 7 6 5 4 215 Baltic Dirty Tanker - Yearly 152 61 719 14 17 2 23 26 29 32 35 38 41 44 47 5 1 4 7 1 13 WEEK NO 216 Baltic Clean Tanker - Monthly 53 52 519 51 5 496 49 492 48 1/3/216 8/3/216 15/3/216 22/3/216 29/3/216 Baltic Dirty Tanker - Monthly 9 872 85 8 83 75 715 7 1/3/216 8/3/216 15/3/216 22/3/216 29/3/216 TANKER SALES NAME DWT BLT PRICE $ BUYER NOGOGINI 1164 1996 JAPAN DH 4 MIO ASIAN (STST) ESHIPS AGAMID 1313 26 KOREA DH 9 MIO ENBLOC BSS ESHIPS BARRACUDA 1313 26 KOREA DH 9 MIO ENBLOC BSS ESHIPS COBIA 1313 26 KOREA DH 9 MIO ENBLOC BSS ESHIPS EAGLE 13148 27 KOREA DH 9.5 MIO TRISTAR (Price Each) OCEANIC CERISE 13221 28 CHINA DH 11.8 MIO ENBLOC BSS OCEANIC COBALT 13226 28 CHINA DH 11.8 MIO TEAM TANKERS (Price each. Epoxy) DEVA MARIA 13921 199 JAPAN DH 2.5 MIO UNDISCLOSED (STST) ARTHUR 1995 1987 JAPAN DH 3.2 MIO CHINESE (Epoxy) SEARAMBLER 39551 21 KOREA DH 11.2 MIO UNDISCLOSED (Epoxy) AMALIENBORG 459 24 KOREA DH 16 MIO CHINESE (Epoxy, TC Back fr 5yrs) SEA EXPRESS 45976 27 JAPAN DH 18.4 MIO UNDISCLOSED (Epoxy) GOLDEN GULF 467 1995 KOREA DH 7.5 MIO TRISTAR STI MYTHOS 4999 214 KOREA DH * ENBLOC BSS STI POWAI 4999 214 KOREA DH * ENBLOC BSS STI CHELSEA 4999 214 KOREA DH * ENBLOC BSS STI LEXINGTON 4999 214 KOREA DH * ENBLOC BSS STI OLIVIA 54 214 KOREA DH 166.5 MIO BAHRI (Ttl Price) ST JOHANNIS 51218 27 KOREA DH 22 MIO ENBLOC BSS ST MARIEN 51218 27 KOREA DH 22 MIO UNDISCLOSED (Price each. Epoxy. Incl TC Back) KASSOS 9542 1995 KOREA DH 8.3 MIO UNDISCLOSED RATNA PUJA 14635 26 CHINA DH 22.5 MIO GREEK CE-BREEZE 15154 1996 JAPAN DH 9 MIO ENBLOC BSS CE-MERAPI 15274 1996 JAPAN DH 9 MIO TURKISH (Price Each) TRIDENT STAR 15996 25 JAPAN DH 26.5 MIO FAR EASTERN
$/Day $/Day 5 PACIFIC LONDON 113333 1999 KOREA DH 15 MIO INDONESIAN TAKACHIHO II 28889 1998 JAPAN DH 21.4 MIO GREEK HANJIN RAS TANURA 31766 211 KOREA DH 75 MIO BAHRI GAS SALES NAME DWT BLT CBM PRICE $ BUYER ESHIPS DANA 7868 21 KOREA 6427 23 MIO ENBLOC BSS ESHIPS SHAMAL 7879 21 KOREA 6421 23 MIO TRISTAR (Price each) Spot Market - Tankers VLCC SUEZMAX AFRAMAX 11 1 9 8 7 6 5 4 3 2 1 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 617 347 346 Period Market - Tankers 1 Year T/C VLCC SUEZMAX AFRAMAX 7 6 5 4 3 2 1 45 35 275 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16
6 Baltic Handysize 28 27 27 26 252 25 24 232 23 2 22 21 1/3/216 8/3/216 15/3/216 22/3/216 29/3/216 5 45 4 35 Baltic Supramax 473 42 363 2 3 1/3/216 8/3/216 15/3/216 22/3/216 29/3/216 Baltic Panamax 49 47 481 45 471 43 41 39 386 4 37 35 1/3/216 8/3/216 15/3/216 22/3/216 29/3/216 Baltic Capesize 215 27 25 197 195 185 175 4 38 165 155 161 1/3/216 8/3/216 15/3/216 22/3/216 29/3/216 BULKER SALES NAME DWT BLT GEAR PRICE $ BUYER SCL NICOLE 7678 29 CHINA GLESS 2.9 MIO UNDISCLOSED SCL ELISE 7694 29 CHINA GLESS 2.9 MIO UNDISCLOSED SCL MARGRIT 7775 29 CHINA GLESS 2.9 MIO UNDISCLOSED JUDI 1832 2 JAPAN CR 3X3 2 MIO UNDISCLOSED RED MISTRAL 2738 1994 JAPAN CR 4X3 1.5 MIO UNDISCLOSED DORIS 28352 28 JAPAN CR 4X3 6.3 MIO GREEK MAGIC ORIENT 28399 1995 JAPAN CR 4X3 1.7 MIO CHINESE ANGEL JUPITER 32936 26 JAPAN CR 4X3 5 MIO TAN BINH BARRA 42648 1998 JAPAN CR 4X25 2.6 MIO MID EASTERN TEAM PROGRESS 43775 1996 KOREA CR 4X3 2.1 MIO UNDISCLOSED ENTERPRISE 45572 2 JAPAN CR 4X3 2.7 MIO FAR EASTERN VOC DAISY 47183 1998 JAPAN CR 4X3 2.2 MIO UNDISCLOSED AURORA SAPPHIRE 48893 2 JAPAN CR 4X3 2.8 MIO UNDISCLOSED TENSEI MARU 52454 27 JAPAN CR 4X3 6.5 MIO SR SHIPPING SANTA MARGHERITA 5326 25 CHINA CR 4X36 3.6 MIO UNDISCLOSED JULIUS OLDENDORFF 5372 25 CHINA CR 4X3 3.5 MIO CHINESE SHARP 5534 213 VIETNAM CR 4X3 9.3 MIO ENBLOC BSS WORLD 5534 213 VIETNAM CR 4X3 9.3 MIO UNDISCLOSED (Price each) CAPITAL 5534 213 VIETNAM CR 4X3 8.3 MIO ENBLOC BSS SECRET 55395 213 VIETNAM CR 4X3 8.3 MIO UNDISCLOSED (Price each) CALYPSO COLOSSUS 55429 29 JAPAN CR 4X3 8.3 MIO SR SHIPPING LAN HAI LI LIANG 568 211 CHINA CR 4X3 * ENBLOC BSS LAN HAI FA ZHAN 578 21 CHINA GLESS * ENBLOC BSS LAN HAI FEN JIN 57173 21 CHINA GLESS 21.4 MIO CHINESE (Ttl Price)
$/Day 7 H-G BUELOW 56892 211 CHINA CR 4X3 6.8 MIO UNDISCLOSED TENKO MARU 58732 28 JAPAN CR 4X3 7.3 MIO UNDISCLOSED DARYA TARA 73281 2 JAPAN GLESS 3 MIO ENBLOC BSS DARYA SHANTHI 73389 21 JAPAN GLESS 3 MIO UNDISCLOSED (Price each) IOANNIS F K 74193 21 JAPAN GLESS 3.2 MIO CHINESE WASHINGTON TRADER 74228 2 JAPAN GLESS 2.7 MIO CHINESE SAMJOHN AMITY 74744 1998 JAPAN GLESS 2.8 MIO ENBLOC BSS SAMJOHN LIBERTY 74761 1998 JAPAN GLESS 2.8 MIO UNDISCLOSED (Price Each) LOWLANDS CAMELLIA 7687 26 JAPAN GLESS 6.2 MIO GREEK SADAN K 836 21 KOREA GLESS 1 MIO ENBLOC BSS ZEYNEP K 837 21 KOREA GLESS 1 MIO GREEK (Price each. Via Auction) LIBERTY DAWN 8164 213 KOREA GLESS 13 MIO ENBLOC BSS LIBERTY DESTINY 81642 212 KOREA GLESS 12 MIO GREEK (Price Each) LIBERTY DESIRE 8164 213 KOREA GLESS 13 MIO ENBLOC BSS LIBERTY DREAM 81641 212 KOREA GLESS 12 MIO GREEK (Price Each) F D ISABELLA 8218 29 CHINA GLESS 9.2 MIO CHINESE TENSHIN MARU 82687 28 CHINA GLESS 8 MIO GREEK C WINNER 169237 28 KOREA GLESS 11.3 MIO UNDISCLOSED UNIQUE BRILLIANCE 176347 22 JAPAN GLESS 5.4 MIO WINNING SHIPPING SPRING HYDRANGEA 176955 26 JAPAN GLESS 12 MIO UNDISCLOSED GLOBAL PARTNERSHIP 176967 26 JAPAN GLESS 12 MIO WINNING SHIPPING BULK SINGAPORE 177173 25 JAPAN GLESS 1 MIO WINNING SHIPPING AQUACARO 186 216 JAPAN GLESS 33 MIO JAPANESE LYLA 18725 29 KOREA GLESS 17.8 MIO WINNING SHIPPING STX DALIAN 177 4 216 CHINA GLESS 16.9 MIO PANOCEAN (Via auction. 9% compl.) 18 16 14 12 1 8 6 4 2 Spot Market - Bulkers 53 38 295 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 CAPESIZE PANAMAX HANDYMAX
$/Day 8 131 121 111 11 91 81 71 61 51 41 Period Market - Bulkers 1 Year T/C Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 4 7 523 45 CAPE PMAX HANDYMAX CONTAINER SALES NAME DWT BLT GEAR TEU PRICE $ BUYER VEGA BETA 11836 26 CHINA CR 2X45 64 3.6 MIO GREEK STADT BREMEN 12895 23 ROMANIA CR 2X4 112 * ENBLOC BSS STADT FLENSBURG 12895 23 UKRAINE CR 3X45 112 5.5 MIO UNDISCLOSED (Ttl Price) NORDIC BREMEN 132 211 CHINA GLESS 136 1.5 MIO NORWEGIAN (Incl 5yrs BB Back) CARIBBEAN VOYAGER 1376 28 CHINA CR 2X45 1118 5.2 MIO GERMAN CALA PAGURO 21442 27 JAPAN CR 3X45 1577 1 MIO UNDISCLOSED WEHR BLANKENESE 2321 1999 POLAND CR 3X45 173 3.7 MIO GREEK OSAKA TRADER 24376 1996 JAPAN CR 3X4 1613 2.7 MIO UNDISCLOSED SPIRIT OF PIRAEUS 3554 21 TAIWAN CR 3X45 2262 3.5 MIO UNDISCLOSED UNI FULGENT 4293 27 KOREA GLESS 345 6.5 MIO BOREALIS (Via Auction) NORDIC WISMAR 46131 211 CHINA CR 3X45, CR 1X35 3421 2 MIO NORWEGIAN (Incl 6 mos TC) RHL FIDELITAS 6292 21 CHINA GLESS 51 7.5 MIO GREEK RHL FIDUCIA 6369 21 CHINA GLESS 51 7.5 MIO GREEK CMA CGM CORNEILLE 8548 29 KOREA GLESS 6572 6 MIO UNDISCLOSED (Incl 9yrs TC) MPP/TWEEN SALES NAME DWT BLT GEAR TEU PRICE $ BUYER FAABORG 3469 24 SLOVENIA CR 2X35 167 3 MIO UNDISCLOSED DONMASTER SPIRIT 4294 22 RUSSIA GLESS 122 1.4 MIO UNDISCLOSED (Price in EUR) ADDI L 4557 1995 RUSSIA GLESS 173 1.5 MIO UNDISCLOSED (Price in EUR) SAN NICOLAS 599 2 CHINA CR 2X4 519 1.55 MIO UNDISCLOSED FLINTERMAAS 62 1999 NETHERLANDS GLESS 39 3.1 MIO ENBLOC BSS FLINTEREEMS 6359 1999 NETHERLANDS GLESS 39 3.1 MIO UNDISCLOSED (Price each) FAABORG 3469 24 SLOVENIA CR 2X35 167 3 MIO UNDISCLOSED COMBO SALES NAME DWT BLT GEAR PRICE $ BUYER SKS TANA 1996 1996 KOREA GLESS 7 MIO TURKISH
$m $m 9 N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C TS Tanker Prices VLCC Suezmax Aframax MR Bulker Prices Capesize Panamax Handymax Handysize 12 1 8 6 4 2 Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 92 61 5 34.9 7 6 5 45 4 3 2 25.7 24.1 2 1 Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 Ship Type 216 217 218+ Total Capesize 146 41 23 21 Panamax 21 72 23 296 Supra/Hmax 381 135 18 534 Handies 22 1 47 349 Total 93 348 111 1389 Ship Type 216 217 218+ Total ULCC/VLCC 56 46 27 129 Suezmax 39 63 12 114 Aframax 63 71 35 169 Panamax 28 3 9 67 MR+Small 217 148 63 428 Total 43 358 146 97 Ship Type 216 217 218+ Total VLGC 43 28 11 82 LGC 2 2 MR 26 38 4 68 Handy 15 14 1 3 Small 6 1 1 8 Total 92 81 17 19
m. dwt m. dwt No. of Vessels m. dwt 1 Newbuilding Sales 7 6 5 4 3 2 1 142 66 128 398 235 28 Tankers >1, dwt Bulkers >1, dwt Containerships 18 214 215 Mar-16 4 4 Delivery Schedule Bulkers >1, dwt. Tankers >1, dwt 9 8 76.8 7 6 5 4 39.5 4 3 26.1 2 17.2 9.6 1 Mar-16 217 218+ 45 4 35 3 25 2 15 1 5 VLCC Aframax Products 39.9 17.9 18.8 15.5 5.1 March 216 Tanker Newbuildings on Order Suezmax Panamax Bulker Newbuildings on Order Capesize Panamax 5 45 4 35 3 25 2 15 1 5 43 24.3 32.6 March 216 Handymax 12.6 Handysize Newbuilding Historical Prices ($m) Tankers Mar-16 215 214 213 212 211 21 29 28 25 1995 199 1985 31, DWT 1 92 93.7 97.3 93.8 93.2 98.9 14.8 97.5 15 12 85.3 87.4 2 38.2 17, DWT 1 61 63 65.5 59.6 57.1 6.3 66.3 61 9 71.5 54 66.1 2 28.2 11, DWT 1 5 52 53.6 52.2 48.5 52.2 56 49.5 74 58 43.3 53.2 2 18.1 47, DWT 1 34.9 35.4 36.8 34.6 33.8 35.2 36.1 35 46.5 43 33.2 3 32.1 3 13.3 Bulkers 18, DWT 1 45 46 54.2 53.6 45.7 48.4 57.2 55.5 87 58.5 42.3 6.2 29.3 73, DWT 1 25.7 25.7 29 27.8 25.6 28.7 34.3 34.5 45.5 36 27.9 3 13.4 45, DWT 24.1 24.1 27.2 26.5 23.7 26.7 31.1 29 41 31 24.1 25.3 12.4 29, DWT 2 2.3 22.8 22.2 2.5 22.2 26.3 24.5 31 25.5 19.2 21.3 9.7 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 Chem & Oil 65 Pha Rung S/yard 218 BS Shipping Co., Ltd Chem & Oil 65 Pha Rung S/yard 218 BS Shipping Co., Ltd Chem & Oil 65 Pha Rung S/yard 218 12.92 Mio Y-Entec Co., Ltd Cruise Lloyd Werft 218 Crystal Cruises L.P.G. 64 Murakami Hide 217 Wisdom Marine Group MPP 4 Ben Thuy Shipyard 217 Hiep Phuoc Transport MPP 4 Ben Thuy Shipyard 217 Hiep Phuoc Transport Products 158 Hyundai Samho HI 217 A.M.P.T.C. Products 158 Hyundai Samho HI 217 A.M.P.T.C. Roro 15 Flesburger SB 218 Siem Industries Roro 15 Flesburger SB 218 Siem Industries Roro 1 Uljanik Brod. 218 CLdN Cobelfret Roro 1 Uljanik Brod. 218 CLdN Cobelfret Roro 1 Uljanik Brod. 218 CLdN Cobelfret Roro 1 Uljanik Brod. 218 CLdN Cobelfret Roro 1 Uljanik Brod. 218 CLdN Cobelfret Roro 1 Uljanik Brod. 218 CLdN Cobelfret
Million dwt USD/ton USD/ton 12 Demolition Historical Data D E M O L I T I O N M A R K E T Demolition Prices Gen Cargo Tanker India USD 26 /lt Ldt USD 28 /lt Ldt Bangladesh USD 25 /lt Ldt USD 27 /lt Ldt Pakistan USD 26 /lt Ldt USD 285 /lt Ldt China USD 145 /lt Ldt USD 155 /lt Ldt 58 53 48 43 38 33 28 23 18 58 53 48 43 38 33 28 23 18 6 5 4 3 2 1 28 25 28 Price Tankers* 213 214 215 216 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC *India month's end prices 26 225 26 Price Bulkers* 213 214 215 216 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC *India month's end prices 38 25.6 14.5 4.9 2.35 4.6 3.8 15.9 16.7 18.9 15.5 18 15.6 Total Demolition (Dwt) 3.5 28.428.5 25 27 22.4 1 5.5 6.5 5 12 28.9 25.7 31.58 5.3 41.8 38.8 34.3 15.1 * Bss reported sales
USD/ton 13 6 Historical Demolition Prices (India Year's End) 5 4 3 2 TANKERS BULKERS Avg. Trend 1 HISTORICAL DEMOLITION PRICES (*Indian Year s End) 1998 1999 2 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 CURR. TANK 115 136 174 135 174 262 362 32 45 57 287 338 485 482 45 435 425 3 28 BULK 112 143 17 135 181 267 381 332 392 472 268 328 437 456 375 41 4 285 26 India TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK HAJ WALID 23418 1985 5273 223 Incl abt 27T ROB BULK FLORA 26587 1985 5618 23 BULK MATHAWEE NAREE 28364 1996 6152 235 BULK FONTHIDA NAREE 28484 1995 6326 237 BULK AK ABBA 29611 1985 6656 24 BULK CARIBE PEARL 3876 1986 1275 281 BULK CAPT. STEVEN L BENNETT 41151 1984 13147 293 Full spares. Incl 6T ROB BULK BALBOA PEARL 41728 1986 1888 228 BULK SEA LORD 69128 1995 9726 277 BULK AGIOS EMILIANOS 69351 1989 975 23 BULK ORIENT RICH 7119 1995 932 26 BULK MY ANGEL 71355 1997 1243 276 BULK VARVA 71862 1994 9917 225 BULK AQUARIA 73236 1994 1592 24 BULK CAPE VENUS 172612 1996 21165 238 As is Singapore incl 6T ROB. Green recycling Bangladesh TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK SOFIA 18433 1983 486 27 BULK OCEAN FORTUNE 3324 1986 6727 253 BULK KYTHNOS WARRIOR 7272 1996 9617 279 BULK HUITAI 149228 1996 18232 238 Incl abt 9T ROB BULK SUNNY VOYAGER 15225 1994 18547 246 BULK CHINA STEEL DEVELOPER 154191 1998 2388 26 As is Singapore. Incl 45T ROB BULK CHINA STEEL INVESTOR 154556 1997 22746 26 As is Singapore. Incl 75T ROB BULK QUORN 179869 1996 22536 247 RORO HYUNDAI No. 13 12893 1986 1223 265
14 China TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK SEA GLORY 27279 1997 6935 135 BULK SEA SUCCESS 27287 1998 7442 145 Pakistan TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK RESTORER 4462 1996 848 269 BULK ANATOLI 47116 1998 8752 275 BULK THE CREATOR 68519 1995 9861 263 BULK MP PANAMAX 6 68541 1995 136 251 As is Colombo incl 2T ROB BULK THE OPENER 729 1994 12126 239 BULK SUERTE 72516 1995 11343 257 BULK TRIDENT NAVIGATOR 7567 2 9969 275 BULK GOODWILL 14941 1992 16738 28 BULK MARTHA 15161 1994 22397 275 BULK OCEAN QUEEN 168148 1996 2719 27 BULK RZS HARMONY 171779 1999 22363 28 BULK CAPE CENTURY 182683 21 2114 247 Incl abt 25T ROB Turkey TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS N/A N/A N/A Other TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS BULK VOGE FREEWAY 29227 1998 848 18 As is Malta BULK POS AMBITION 14933 1992 1777 245 Full sub-cont options BULK CSK RADIANCE 16966 21 2168 26 As is Singapore
USD/ton USD/ton 15 8 7 6 5 4 3 2 1 H I S T O R I C A L B U N K E R P R I C E S Bunkers Cost (38 cst) Rotterdam Fujeirah Houston Average Trend 12 1 8 6 4 2 Bunkers Cost (MGO) Rotterdam Fujeirah Houston Average Trend HISTORICAL BUNKER PRICES Rotterdam Fujeirah Houston 38 cst MGO 38 cst MGO 38 cst MGO 1992 83 161.9 81.5 28.2 78.4 165.2 1993 67 15.5 7 22.5 71.1 16.6 1994 86 133.2 8.9 182.6 8.8 148.8 1995 97 14.6 94.6 175.8 93.2 148 1996 17 175.1 14.4 27.5 15.8 186 1997 92 155.4 99.3 25.6 97.3 179.9 1998 66.5 112.2 69.2 152.2 67.2 136.9 1999 94 133 98.5 157.2 93.3 143.9 2 139 231.6 155.3 263.5 136 255.7 21 116 192.4 129.7 244.7 112.8 227.5 22 135 188.2 145.9 222.8 134 196 23 151 23.4 166.3 265.2 16.2 265.1 24 154 313.4 176.7 359.3 167.3 328.7 25 236 458.4 256.6 5.1 248.3 58.5 26 195 524.1 31.9 631.8 33 562.3 27 347 571.3 373.7 664.7 351.8 68.6 28 469 85.7 59.4 137.7 496.8 933.2 29 355 49.6 372.8 657 36.7 525 21 452 667.1 468.2 712.9 449.3 683 211 548 848.6 587.5 897.5 542.1 862.4 212 585 92 66 15 61 15 213 585 92 62 11 58 985 214 31 57 35 88 315 695 215 14 311 17 56 14 36 Mar-16 157 332 177 425 14 357
$/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..8.6.4 Currencies USD-EUR USD-JPY 13 12 11 1 9 8 7 6 16. 14. 12. 1. 8. 6. 4. 2.. Brent Oil GBP CAD EUR JPY CHF USD AUD GBP 1.53333.78588.618.71989.69469.53166 CAD 1.87435 1 1.47319.1158 1.34947 1.3229.99667 EUR 1.27217.67857 1.786.91595.88388.67648 JPY 161.88 86.34 127.23 1 116.55 112.47 86.8 CHF 1.38865.7469 1.9148.858 1.96479.73837 USD 1.43927.76773 1.13123.889 1.3623 1.76532 AUD 1.8819 1.292 1.47787.1161 1.35368 1.3635 1 * 31/3/216 values
17 S T O C K W A T C H NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW Capital Product Partners CPLP 3.12 3.31-5.7 1.6 2.5 Diana Shipping Inc. DSX 2.5 2.43 2.9 8.27 1.95 Dryships Inc. DRYS 2.33.11 2119 21.25 2. Dynagas LNG Partners LP DLNG 9.62 8.95 7.5 2.83 6.7 Eagle Bulk Shipping Inc. EGLE.75.69 8.7 11.58.41 Euroseas Ltd. ESEA 1.8 2. -1 8.7 1.71 Freeseas Inc. FREE.2.4-52.3 1.24.2 Costamare Inc. CMRE 8.91 7.18 24.1 2.5 6.1 Goldenport Holdings Inc. GPRT 7. 13.12-46.6 144.75 4. Navios Maritime Holdings NM 1.19.82 45.1 4.51.68 GasLog Ltd. GLOG 9.51 9.43.8 23.84 5.24 Paragon Shipping Inc. PRGN.65.4 141.5 45.6.6 Safe Bulkers Inc. SB.76.55 38.2 4.13.3 Star Bulk Carriers Corp. SBLK.69.61 14 4.13.31 Stealthgas Inc. GASS 3.57 3.1 15.2 7.1 2.39 TEN Inc. TNP 6.17 5.83 5.8 1.5 4.79 TOP Ships Inc. TOPS 1.98 2.81-29.5 14.1 1.3 Box Ships Inc. TEUFF.8.11-23.6 1.7.7 Diana Containerships Inc. DCIX.54.41 31.7 2.7.31 Danaos Corporation DAC 3.8 4.45-14.6 6.7 3.79 Aegean Marine Petroleum ANW 7.58 7.14 6.2 15.71 5.52 * 3/3/216 closing values Reverse Split ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 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,