MONTHLY NEW BUILDING REPORT February 2006 Newbuilding Prices Chart $140,00 $120,00 $100,00 $80,00 $60,00 $40,00 $20,00 $0,00 8/1/04 9/1/04 10/1/04 11/1/04 12/1/04 1/1/05 2/1/05 3/1/05 4/1/05 5/1/05 6/1/05 7/1/05 8/1/05 9/1/05 10/1/05 11/1/05 12/1/05 1/1/06 2/1/06 usd (mio) VLCC 300,000DWT SUEZMAX 150,000DWT AFRAMAX 113,000DWT PANAMAX 72,000DWT PRODUCT 47,000DWT CAPESIZE 175,000DWT PANAMAX 70-76,000DWT HANDYMAX XS 50,000DWT HANDYSIZE 28-35,000DWT SIZE (DWT) Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 Nov-05 Dec-05 VLCC 300,000 $120,00 $120,00 $125,00 $127,00 $127,00 $125,00 $125,00 $122,00 $122,00 $120,00 $120,00 $120,00 SUEZMAX 150,000 $74,00 $74,00 $76,00 $78,00 $78,00 $78,00 $75,00 $74.00 $72,00 $71,00 $71,00 $71,00 AFRAMAX 113,000 $61,00 $61,00 $64,00 $65,00 $65,00 $64,00 $62,00 $60,00 $60,00 $58,50 $58,50 $59,00 PANAMAX 72,000 $48,00 $48,00 $49,00 $49,00 $49,00 $49,00 $49,00 $49,00 $49,00 $49,00 $49,00 $49,00 PRODUCT 47,000 $41,00 $41,00 $43,00 $44,00 $44,00 $44,00 $44,00 $44,00 $44,00 $43,00 $43,00 $43,00 CAPESIZE 175,000 $66,00 $66,00 $68,00 $68,00 $68,00 $68,00 $62,00 $62,00 $62,00 $60,00 $59,00 $59,00 PANAMAX 70-76,000 $37,50 $37,50 $40,00 $40,00 $40,00 $39,00 $38,00 $36,00 $38,00 $37,00 $36,00 $36,00 HANDYMAX XS 50,000 $31,50 $31,50 $33,00 $34,00 $34,00 $34,00 $34,00 $32,00 $32,00 $30,00 $28,50 $29,00 HANDYSIZE 28-35,000 $25,00 $25,00 $26,00 $26,50 $26,50 $26,50 $26,50 $26,50 $26,50 $26,50 $25,50 $25,50 SIZE (DWT) Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 VLCC 300,000 $122,00 $122,50 SUEZMAX 150,000 $73,00 $73,00 AFRAMAX 113,000 $59,00 $59,00 PANAMAX 72,000 $53,00 $54,00 PRODUCT 47,000 $43,00 $44,00 CAPESIZE 175,000 $59,00 $59,00 PANAMAX 70-76,000 $36,00 $35,00 HANDYMAX XS 50,000 $29,00 $29,00 HANDYSIZE 28-35,000 $25,00 $25,00 NOTE: ALL PRICES REPORTED ABOVE ARE REFERRED TO NORMAL SPECS FROM REPUTABLE YARDS.
- NEW ORDERS - Bulk Carrier Sector Specific Units Dwt Shipyard Reported Price Owner/ Manager Delivery Date OPEN HATCH 2 72.000 OSHIMA GEARBULK 2009 OPEN HATCH 2 54.000 OSHIMA GEARBULK 2008 OPEN HATCH 1 54.000 OSHIMA GEARBULK 2009 2 80.500 JINGJIANG TRAFFIC SY ATLANTSKA PLOVIDBA 2007/12 1 75.000 HUDONG ZHONGHUA $ M 32,6 GLEAMRAY MARITIME 2009/2 1 75.000 HUDONG ZHONGHUA $ M 32,6 GLEAMRAY MARITIME 2009/7 1 105.500 OSHIMA KAWASAKI 2009/3 2 53.500 DAYANG S.B. $ M 31,5 MEADWAY 2007/12 1 53.500 YANGZHOU SHIPYARD MEADWAY 2007/12 1 58.000 TSUNEISHI CEBU PACIFIC CARRIERS 2008/3 1 58.000 TSUNEISHI CEBU PACIFIC CARRIERS 2008/6 1 32.000 KANDA S.B. PACIFIC CARRIERS 2009 1 28.350 IMABARI SHIPBUILDING PACIFIC CARRIERS 2009/3 1 32.000 KANDAS SHIH WEI NAVIGATION 2009/6 1 58.000 TSUNEISHI CEBU $ M 30,0 UGLAND 2008 1 31.000 JJ SIETAS WG&A PHILIPPINES 2009/1 Other Dry Sectors Specific Units Dwt Capacity Shipyard Reported Price Owner/ Manager Delivery Date CONTAINER 4 4300 HANJIN $ M 59,0 CMA CGM 2009 CONTAINER 4 5700 JIANGNAN S.Y. $ M 70,0 COSCO 2009 CONTAINER 4 1100 YANGZHOU SHIPYARD HARTMANN SCHIF. 2007/9 CONTAINER 1 79.000 6800 HYUNDAI H.I $ M 106,0 HYUNDAI M.M. 2009 CONTAINER 2 2500 JIANGSU YANGZIJIANG $ M 42,0 PETER DOHLE 2008 MPP 4 12.500 JIANGDONG SHIPYARD $ M 21,0 BELUGA SHIPPING 2008 MPP 2 12.500 700 JIANGDONG SHIPYARD $ M 21,0 W. BOCKSTIEGEL 2008 PAX-CRUISE 1 5400 AKER FINNYARDS $ M 1080 ROYAL CARIBBEAN 2009 PCC 4 21.500 HYUNDAI SAMHO EUKOR CAR 2008/12 PCC 5 6000 GDYNIA $ M 60,0 RAY CAR CARRIERS 2008 PCC 2 2200 GDYNIA $ M 30,0 STAMCO SHIPMAN. 2007 PCC 4 6500 HYUNDAI SAMHO $ M 72,5 WILHELMSEN LINES 2008 RORO CARGO 1 3.500 SINGAPORE TECH. MAR. LEIF HOEGH 2008/12 RORO CARGO 1 3.500 SINGAPORE TECH. MAR. LEIF HOEGH 2008/5 Page 2 of 10
Tanker Sector Specific Units Dwt Capacity Shipyard Reported Price Owner/ Manager Delivery Date CHEM&OIL 5 6.500 PHA RUNG FORTUNE TANKERS 2008 CHEM&OIL 2 37.000 HYUNDAI MIPO $ M 40,5 MONTANARI 2008 CHEM&OIL 2 51.000 SHIN-A MORFINI 2009/6 CHEM&OIL 1 16.800 TAIZHOU SANFU SHIPYARD PACIFIC CARRIERS 2007/9 CHEM&OIL 1 16.800 TAIZHOU SANFU SHIPYARD PACIFIC CARRIERS 2007/11 CHEM&OIL 2 16.800 BAIMA SHIPYARD PACIFIC CARRIERS 2007/11 CHEM&OIL 2 16.800 LIAONING HONGGUAN PACIFIC CARRIERS 2007/11 CHEM&OIL 1 51.000 STX PARAKOU SHIPPING 2008/12 CHEM&OIL 1 27.000 VULCANO ROSNEFT JOINT STOC 2008/12 CHEM&OIL 2 30.000 VULCANO ROSNEFTEFLOT JSC 2008/3 CHEM&OIL 1 30.000 VULCANO ROSNEFTERFLOT 2007/12 CRUDE 6 306.000 DAEWOO HEAVY ARAMCO 2008/6 CRUDE 2 320.000 BOHAI BW SHIPPING 2008 CRUDE 2 105.000 SHANGHAI WAIGAOGIAO CARDIFF 2009/1 CRUDE 2 114.760 SAMSUNG HI GEDEN LINES 2009/2 CRUDE 1 32.000 DAEWOO $ M 125,0 KRISTEN NAVIGATION 2007 CRUDE 1 300.000 BOHAI NANJING CHANGJIANG 2010/8 CRUDE 1 300.000 BOHAI NANJING CHANGJIANG 2010/12 CRUDE 1 280.000 JIANGNAN CHANGXING NANJING CHANGJIANG 2009/8 CRUDE 1 280.000 JIANGNAN CHANGXING NANJING CHANGJIANG 2009/12 CRUDE 1 300.500 IHI NYK 2009/12 CRUDE OIL 1 300.000 IHI KYOEI TANKER 2007/3 PRODUCTS 3 51.000 STX BARCLAY SHIPPING 2008/2 PRODUCTS 2 51.000 STX BARCLAY SHIPPING 2008/10 PRODUCTS 5 47.000 HYUNDAI MIPO CIDO SHIPPING 2008 PRODUCTS 1 105.000 NAMURA ZOSENSHO KYOEI TANKER 2008/6 PRODUCTS 1 46.000 ONOMICHI DOCKYD KYOEI TANKER 2008/6 PRODUCTS 2 37.000 HYUNDAI MIPO $ M 40,5 MONTANARI 2008 PRODUCTS 1 114.500 SASEBO NYK 2009/10 PRODUCTS 2 51.000 STX PRIMORSK SHIPPING 2009/3 PRODUCTS 3 47.000 ZAVOD SOVCOMFLOT 2007/12 PRODUCTS 3 47.400 ADMIRALITY S.B. SOVCOMFLOT 2007/12 PRODUCTS 2 6.500 QUANZHOU TITAN 2007/12 PRODUCTS 1 51.000 STX $ M 50,0 CAPITAL 2008 CRUDE 1 297.000 JIANGNAN CHANGXING $ M 104,0 FRONTLINE 2008/12 CRUDE 1 297.000 JIANGNAN CHANGXING $ M 104,0 FRONTLINE 2009/5 CRUDE 1 297.000 JIANGNAN CHANGXING $ M 104,0 FRONTLINE 2009/9 CRUDE 1 297.000 JIANGNAN CHANGXING $ M 104,0 FRONTLINE 2010/1 CRUDE 6 320.000 DAEWOO HEAVY $ M 129,0 VELA INTERNATIONAL 2008 Page 3 of 10
Other Wet Sectors Specific Units Dwt Capacity Shipyard Reported Price Owner/ Manager Delivery Date BITUMEN 2 5.900 COSCO ZHEJIANG SHIPYARD 2008/6 L.P.G. 2 52.000 82000 HYUNDAI H.I A.M.P.T.C. 2008 L.P.G. 2 52.000 82000 HYUNDAI H.I A.M.P.T.C. 2009 L.P.G. 2 22.800 HYUNDAI MIPO CIDO 2009/3 L.P.G. 1 52.000 82000 HYUNDAI H.I HYUNDAI M.M. 2008 L.P.G. 1 52.000 82000 HYUNDAI H.I HYUNDAI M.M. 2009 L.P.G. 2 16.900 22500 HHI $ M 50,0 PETREDEC 2008 Page 4 of 10
- FLEET STATISTICS - Revised as of January 2006 Dry Bulk Sector Below figures refer to tonnage in excess of 10.000 dwt. New building orderbook include bulk carriers and tweendeckers. Demolition figure include bulk carriers, tweendeckers and dry trading combination carriers Scrapped tonnage is reported as of the date of report. Annual Dry Bulk Fleet Statistics Year Delivered/ Orderbook Growth Scrapped Change No of Vessels Year to Year (%) 2010 3 653000 0,16% 2009 40 4.659.900 1,11% 2008 156 14.123.800 3,41% 2007 266 20.092.200 5,02% 2006 350 25.914.900 6,81% 788.493 +25.126.407 2005 303 23.070.252 6,51% 1.155.261 +21.914.991 2004 265 19.654.443 5,93% 1.782.157 +17.872.286 2003 169 11.824.027 3,79% 5.889.590 +5.934.437 2002 227 14.313.637 4,77% 8.533.925 +5.779.712 2001 309 20.473.253 7,17% 10.831.725 +9.641.528 2000 183 13.254.284 5,01% 6.812.514 +6.441.770 1999 203 13.287.772 5,28% 11.746.729 +1.541.043 1998 219 11.678.416 4,89% 16.531.985-4.853.569 1997 296 19.176.680 8,46% 7.914.020 +11.262.660 1996 270 17.761.998 8,54% 7.288.873 +10.473.125 1995 253 15.386.163 8,10% 4.140.120 +11.246.043 1994 184 12.159.629 6,96% 4.776.298 +7.383.331 1993 104 8.265.894 5,09% 2.340.256 +5.925.638 1992 78 6.026.719 3,91% 3.586.265 +2.440.454 Page 5 of 10
Fleet Analysis Year Delivered/ Orderbook Growth Scrapped No of Vessels Year to Year (%) No of Vessels Capesize (85,000 + dwt) 2010 2 600.000 0,20% 2009 11 3.187.000 1,05% 2008 40 7.612.000 2,53% 2007 52 8.401.700 2,87% 2006 68 10.584.830 3,72% 2005 58 9.660.485 3,53% 2 247.292 2004 47 7.943.713 3,01% 5 627.772 2003 34 5.562.841 2,17% 9 1.153.735 2002 25 4.080.198 1,63% 17 2.081.085 2001 33 5.422.760 2,20% 16 2.078.699 2000 39 5.983.741 2,48% 14 1.648.687 1999 28 4.588.554 1,95% 28 3.281.069 1998 14 2.215.597 0,96% 39 5.256.978 1997 47 7.808.778 3,42% 23 3.419.739 1996 52 8.308.294 3,77% 38 5.214.136 1995 40 5.838.709 2,75% 19 2.805.365 1994 28 4.306.150 2,09% 19 2.843.126 1993 29 4.453.249 2,21% 10 1.343.429 Panamax (60,000-84,999 dwt) 2009 9 7.428.000 0,34% 2008 41 3.202.400 1,46% 2007 79 6.093.500 2,82% 2006 98 7.615.400 3,62% 5 338.866 2005 81 6.183.217 3,05% 3 197.990 2004 76 5.750.753 2,93% 1 72.937 2003 20 1.527.930 0,80% 8 545.010 2002 56 4.194.373 2,22% 23 1.531.380 2001 112 8.355.382 4,52% 38 2.457.056 2000 55 4.096.436 2,32% 16 1.010.216 1999 68 5.037.985 2,92% 49 3.068.617 1998 57 4.194.373 2,51% 63 3.938.001 1997 74 5.346.460 3,28% 27 1.763.469 1996 44 3.164.855 2,00% 42 2.532.126 1995 56 4.012.788 2,59% 06 433.128 1994 60 4.250.088 2,82% 13 947.023 1993 37 2.653.439 1,81% 5 305.153 1992 8 571.720 0,40% 9 610.234 Page 6 of 10
Handymax (40,000-59,999 dwt) 2010 1 53.000 0,03% 2009 6 320.000 0,20% 2008 41 2.209.700 1,40% 2007 75 3.958.200 2,54% 2006 107 5.708.220 3,76% 2005 99 5.333.123 3,65% 2 96.072 2004 78 4.097.305 2,90% 5 250.515 2003 65 3.346.501 2,45% 12 599,038 2002 88 4.444.592 3,33% 16 760.382 2001 101 5.071.238 3,93% 24 9936.248 2000 38 1.815.400 1,57% 13 510.416 1999 40 1.904.463 1,60% 20 812.298 1998 74 3.434.920 2,86% 45 1.612.421 1997 75 3.487.652 2,99% 14 524.208 1996 91 4.183.655 3,70% 18 753.028 1995 77 3.478.325 3,19% 3 152.127 1994 59 2.655.545 2,52% 3 153.020 1993 9 428.757 0,42% 3 150.029 1992 15 666.313 0,65% 3 151.349 Handy (10,000-39,999 dwt) 2009 14 410.100 0,26% 2008 34 1.099.700 0,70% 2007 60 1.638.800 1,05% 2006 77 2.006.450 1,30% 18 443.188 2005 65 1.893.427 1,25% 27 672.340 2004 64 1.862.672 1,24% 31 643.239 2003 50 1.386.755 0,94% 146 3.293.613 2002 58 1.594.474 1,09% 181 3.989.064 2001 63 1.623.873 1,12% 257 5.359.722 2000 51 1.358.707 0,87% 196 3.893.195 1999 67 1.756.770 1,21% 241 4.693.608 1998 74 1.833.526 1,30% 294 5.724.585 1997 100 2.533.710 1,85% 229 4.150.381 1996 83 2.104.001 1,53% 155 2.930.028 1995 80 2.056.263 1,53% 64 1.123.321 1994 37 947.864 0,72% 48 926.512 1993 29 730.449 0,56% 32 596.129 1992 27 699.443 0,54% 54 730.036 Page 7 of 10
Tanker Fleet Below figures are in excess of 30.000 dwt. New building orderbook and demolition figures include tankers and wet trading combination carriers. Annual Tanker Fleet Statistics Year Delivered/ Orderbook Growth Scrapped Change No of Vessels Dwt tonnes Year to Year (%) 2010 4 685.500 0,16% 2009 41 5.075.100 1,22% 2008 217 22.379.800 5,71% 2007 301 29.842.288 8,23% 2006 299 25.429.350 7,55% 370.396 +25.058.954 2005 281 28.200.357 9,13% 4.190.191 +24.010.166 2004 283 27.211.350 9,66% 8.521.994 +18.689.356 2003 266 29.901.388 11,88% 18.878.812 +11.022.576 2002 175 22.968.475 10,04% 18.509.565 +4.458.910 2001 106 13.889.099 6,47% 16.125.313-2.236.214 2000 147 20.803.951 10,72% 14.390.430 +6.413.521 1999 165 19.821.185 11,38% 17.282.462 +2.538.723 1998 114 12.549.712 7,76% 7.871.311 +4.678.401 1997 78 8.240.923 5,37% 3.920.938 +4.319.985 Fleet Analysis Year Delivered/ Orderbook Growth Scrapped No of Vessels Dwt tonnes Year to Year (%) Dwt tonnes No of Vessels ULCC (300,000 + dwt) 2009 10 3.047.000 3,63% 2008 25 7.608.000 9,95% 2007 27 8.213.000 12,04% 2006 11 3.371.000 5,20% 2005 26 8.043.981 14,16% 2004 18 5.564.430 10,86% 2003 27 8.480.029 19,83% 7 2.735.293 2002 28 8.991.098 26,62% 2001 12 3.695.021 12,29% 3 1.089.442 2000 17 5.219.355 21,00% 10 3.707.731 1999 19 5.820.279 30,57% 11 3.963.027 1998 9 2.755.888 16,93% 6 2.057.796 1997 9 2.725.140 20,10% 1 317.588 VLCC (171,000-299,999 dwt) Page 8 of 10
2010 2 595.000 0,72% 2009 2008 6 1.752.800 2,16% 2007 6 1.790.300 2,26% 2006 8 2.271.700 2,95% 2005 5 1.274.435 1,68% 1 262.222 2004 12 3.484.801 4,83% 2003 11 3.286.850 4,77% 12 2.967.961 2002 10 2.989.347 4,54% 2 547.314 2001 14 4.115.167 6,66% 18 4.670.232 2000 24 7.002.971 12,79% 31 8.082.828 1999 11 3.163.208 6,13% 30 7.943.281 1998 4 1.177.432 2,33% 13 3.357.352 Suezmax (121,000-170,999 dwt) 2009 1 159.000 0,26% 2008 11 1.751.000 2,98% 2007 28 4.494.600 8,30% 2006 23 3.586.900 7,09% 2005 23 3.651.660 7,78% 2 278.231 2004 26 4.038.490 9,41% 4 516.431 2003 26 4.000.926 10,29% 8 1.162.351 2002 24 3.747.788 10,66% 3 416.385 2001 16 2.498.009 7,65% 22 2.980.141 2000 22 3.324.737 11,34% 21 2.801.073 1999 16 2.366.614 8,78% 24 3.259.853 1998 21 3.122.123 13,10% 13 1.859.830 1997 11 1.585.355 7,12% 5 674.730 Aframax (78,000-120,999 dwt) 2009 7 749.000 0,85% 2008 41 4.446.900 5,33% 2007 54 5.946.200 7,67% 2006 53 5.758.560 8,02% 2 199.392 2005 64 6.917.380 10,66% 6 544.075 2004 52 5.602.983 9,45% 4 390.737 2003 77 8.273.655 16,22% 25 2.213.168 2002 36 3.774.317 7,99% 13 1.194.888 2001 15 1.565.145 3,43% 13 1.214.701 2000 22 2.271.389 5,24% 24 2.240.857 1999 52 5.412.080 14,25% 30 2.670.802 1998 34 3.538.527 10,28% 8 739.392 1997 21 2.167.816 6,72% 10 943.399 Page 9 of 10
Panamax (56,000-77,999 dwt) 2009 2 145.000 0,48% 2008 32 2.195.800 7,77% 2007 44 3.210.598 12,81% 2006 52 3.768.877 17,70% 2005 44 3.146.026 17,34% 7 441.092 2004 37 2.681.061 17,34% 8 505.998 2003 22 1.556.892 11,19% 12 754.391 2002 11 767.121 5,84% 8 498.645 2001 4 278.378 2,16% 12 808.809 2000 16 1.098.596 9,34% 8 526.436 1999 9 632.747 5,68% 3 180.734 1998 1 74.024 0,67% 4 275.950 1997 1 69.999 0,64% 2 121.347 MR Products (30,000-55,999 dwt) 2010 2 90.000 0,13% 2009 21 975.100 1,41% 2008 102 4.625.300 7,18% 2007 142 6.187.590 10,63% 2006 152 6.672.313 12,95% 3 120.572 2005 119 5.166.875 11,15% 8 337.844 2004 138 5.839.585 14,42% 5 189.564 2003 103 4.303.036 11,89% 30 1.180.037 2002 66 2.698.804 8,05% 13 514.471 2001 45 1.737.379 5,47% 29 1.026.253 2000 46 1.886.903 6,31% 32 1.120.826 1999 58 2.426.257 8,84% 12 402.613 1998 45 1.881.718 7,36% 9 350.673 1997 35 1.432.616 5,93% 10 345.197 Page 10 of 10