Weekly Market Report

Week 46 Tuesday 17th November 29 Weekly Market Report Sale & Purchase Newbuilding Secondhand Demolition Chartering World Economy News Japan announced Monday its best economic growth in more than two years during the latest quarter, boosting hopes the global economy is getting back on its feet after the worst recession in decades. The world's second largest economy posted a second straight quarter of positive growth as it emerges from a severe year-long recession on the back of rebounding exports and the government's massive stimulus spending. The economy expanded 1.2% in July-September from the previous quarter - 4.8% on an annualized basis, the government reported. It was the best performance since January-March 27 and about twice as fast as expected. Exports soared 6.4% quarter-onquarter in July-September, while corporate capital expenditure rose 1.6% and household spending went up.7%. (AFP) Energy & Commodities Gold extended its record breaking run on Tuesday, helped by news of fresh central bank buying, while oil prices dipped after a strong rise in the previous session. Gold hit $1,14.85 a troy ounce following news that Mauritius had become the latest nation to buy bullion from the IMF, purchasing two tonnes of the precious metal. Although the deal was small, traders said it underlined the appetite for gold among central banks fearful about a long-term decline in the value of the US dollar, the world s main reserve currency. News of the move by Mauritius came only days afterindia bought 2 tonnes of gold from the IMF and Sri Lanka said it was purchasing gold in the open market. Gold later eased back to trade at $1,132.35 after ending Monday s session in New York at $1,139.95. After rising by more than $2 a barrel on Monday, crude oil prices dipped with Nymex December West Texas Intermediate down 46 cents to $78.44 a barrel while ICE January Brent fell 38 to $78.38 a barrel. Among the base metals, copper, down.6% at $6,85 a tonne, continued to trade strongly after hitting a high for the year on Monday at $6,86 a tonne following speculation China was preparing to allow its currency to appreciate against the dollar. (Financial Times) Shipping News All eyes are on the Baltic Exchange to see if the Dry Index posts a record high for the year. Strong Chinese demand for iron ore and coal, growing port congestion in China and Australia and tight ship availability have helped drive a rally in recent days. The index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertilizer, rose 3.97% or 157 points to 4,111 points on Friday and was at its highest since June 3 when it hit a 29 peak in an twelfth straight session of gains. While iron ore has been the primary driver of the index s growth, coal is expected to kick in during the coming weeks as China and east Asia faces up to an unseasonably early winter with most of northern China reporting temperatures in minus territory for much of the last week. Local governments at all levels should make practical efforts to cope with cold weather and heavy snows, according to China's Ministry of Housing and Urban- Rural Development. The ministry issued a notification, asking local governments to ensure supplies of water, gas, and thermal heating in urban areas, and ensure coal supply for heat enterprises. (Asiasis) Chartering (Wet: Stable+ / Dry: Stronger ) The BDI today (17/11/29) was 4,381, +766 points up (21%) from last Tuesday s levels. On the Wet market, the BDTI today (17/11/29) was 656, +63 points up (11%) and the BCTI at 46, +21 (5%) points up from last Tuesday s levels. Sale & Purchase (Wet: Stable- / Dry: Stable+) The suezmax Pentathlon (164,236 dwt-built 22) was sold to US based buyers for $51.5m. The aframaxes Maersk Priority (15,634 dwt-built 24) and the Maersk Privilege (15,483 dwt-built 23) were each sold for $44m. The Pacific Turquoise (45,18 dwt-built 1989) was purchased by Indonesians for $4.8m. The small tanker Sunny Falcon (6,174 dwt-built 199) was acquired by Vietnamese buyers for $3m. The panamax bulker Iguana (7,349 dwt-built 1996) was sold to Chinese buyers for $23.5m. The Consul Pope (68,591 dwt-built 1995) was purchased for $22m. The Triton Eagle (52,579 dwt-built 23) was bought by Greeks for $25.65m. The handymax Marybelle (42,569 dwt-built 1987) was purchased by Turkish buyers for $1.8m. The sisters Sanko Reliance (42,529 dwt-built 1995) and the Sanko Rose (42,529 dwt-built 1995) were sold en bloc for $28.4m. The Sanko Rejoice (42,529 dwt-built 1994) was bought for $13.75m. The Ulcas (42,244 dwt-built 1985) was sold to South American buyers for $7.8m. The World Trader I (41,796 dwt-built 1986) was purchased for $8.95m. The Silver Sen (41,454 dwt-built 1982) was acquired by Hong Kong based buyers for $5.1m. Newbuilding (Wet: Weaker / Dry: Weaker) On the dry side, Chinese local owners are the usual clients of Chinese yards these days. In addition to the order by Qinfa Group in Guangzhou Lonxue the previous weeks, Lanhai Shipping has ordered six bulk carriers of 8, dwt at the Yangfan yard with delivery in 212 for $4m. China Shipping placed an order for two panamax bulkers to the Jiangnan Shipyard for $65.2m total. Delivery is due in September and October 21. It is highly likely that this order will be replacing older orders that have been delayed or even cancelled. Demolition (Wet: Stable+ / Dry: Stable+ ) Bangladeshi breakers acquired the VLCC Halden (225,28 dwt- 34,249 ldt-built 1989) for $332/lt ldt. The aframax tanker Braveheart (94.998 dwt-13,939 ldt-built 1992) was sold for $353/lt ldt while the LR1 Major Dhan Singh Thapa Pvc (67,227 dwt-13,133 ldt-built 1984) for $289.5/lt ldt. The containers Oel Enterprise (8,15 dwt-3,638 ldt-built 1985) and the Oel Excellence (8,7 dwt-3,638 ldt-built 1985) were sold en block for $28/lt ldt. The Indian breakers, acquired en bloc the handysize tankers Gem of Mangalore (33,58 dwt-8,661 ldt-built 1981) and the Gem of Kakinada (33,532 dwt- 8,813 ldt-built 1982) for $58/lt ldt. Intermodal Research 1 17/11/29

Wet Market $m Dirty Clean Aframax Suez max VLCC Vessel VLCC Suez max Aframax Panamax MR Handy size 18 16 14 12 1 8 6 4 2 Routes Week 46 Week 45 3q29 3q28 ±% WS points Spot Rates WS points 265k AG-JAPAN 48 31,423 4 2,377 19% 16,679 13,577 28k AG-USG 33 15,214 28 7,211 18% 9,78 66,19 26k WAF-USG 58 47,914 53 4,47 1% 26,977 16,589 13k MED-MED 95 42,624 88 36,115 9% 15,623 94,743 13k WAF-USAC 78 28,14 65 18,417 19% 12,479 7,511 13k AG-CHINA 6 16,152 6 16,559 % 14, 63,293 8k AG-EAST 7 8,168 65 6,283 8% 9,316 43,835 8k MED-MED 78 1,715 9 16,634-14% 6,61 47,45 8k UKC-UKC 98 17,683 83 6,968 18% 1,434 76,459 7k CARIBS-USG 125 25,465 8 7,459 56% 5,284 34,813 75k AG-JAPAN 95 15,54 85 11,626 12% 14,957 63,48 55k AG-JAPAN 1 1,37 85 5,811 18% 12,74 49,738 37K UKC-USAC 9 2,537 9 2,342 % 5,587 28,359 3K MED-MED 115 7,542 15 4,83 1% 4,891 37,754 55K UKC-USG 85 7,261 85 6,975 % 7,2 41,926 55K MED-USG 85 5,681 85 5,477 % 6,422 38,197 5k CARIBS-USAC 85 4,973 85 4,725 % 5,548 36,54 1-Jan-8 1-Feb-8 TC Rates Week 46 Week 45 ±% 29 28 27 3k 1yr TC 31,25 31,25.% 4,772 73,798 55,798 3k 3yr TC 32,2 32,2.% 38,461 58,844 48,585 15k 1yr TC 27,25 27,25.% 31,576 47,442 44,72 15k 3yr TC 25,2 25,2.% 29,885 41,123 38,777 15k 1yr TC 18,25 18,25.% 2,685 36,43 33,394 15k 3yr TC 19,2 19,2.% 21,14 3,7 29,83 7k 1yr TC 16,25 16,25.% 2,87 29,471 29,567 7k 3yr TC 17,7 17,7.% 2,54 26,686 27,113 45k 1yr TC 12,75 12,75.% 15,92 23,731 26,154 45k 3yr TC 13,7 13,7.% 16,445 22,527 23,488 36k 1yr TC 1,75 1,75.% 14,424 22,22 23,519 36k 3yr TC 11,2 11,2.% 14,57 2,585 21,517 Tankers SH Values (5yrs) VLCC Suezmax Aframax Panamax MR 1-Mar-8 1-Apr-8 1-May-8 1-Jun-8 1-Jul-8 1-Aug-8 1-Sep-8 1-Oct-8 1-Nov-8 1-Dec-8 1-Jan-9 1-Feb-9 1-Mar-9 1-Apr-9 1-May-9 1-Jun-9 1-Jul-9 1-Aug-9 1-Sep-9 On the MR side, the Pacific Turquoise (45,18 dwtbuilt 1989) was purchased by Indonesian buyers for $4.8m while last month, the Pacific Tourmaline (45,18 dwt-built 1989) was sold to undisclosed buyers for the same price. DIRTY - WS RATES The tanker sale and purchase activity has been levelled up in comparison to last week but it still remains low. The suezmax Pentathlon (164,236 dwt-built 22) was sold to US based buyers for $51.5m. Last month the Decathlon (164,274 dwt-built 22) was sold to NAT for exactly the same price. The aframaxes Maersk Priority (15,634 dwt-built 24) and the Maersk Privilege (15,483 dwt-built 23) were both sold to Vietnamese for $44m each. In August, the Livia (93,6 dwt-built 23) was sold to Pakistani buyers for $4.5m. Lastly, the small tanker Sunny Falcon (6,174 dwt-built 199) was acquired by Vietnamese buyers for $3m. In August, the Golden Chemical was sold for $3m to Vietnamese buyers basis ss due. Intermodal Research 2 17/11/29 WS points WS points 4 35 3 25 2 15 1 5 2-Jan-7 27-Feb-7 4 35 3 25 2 15 1 5 2-Jan-7 27-Feb-7 1, 9, 8, 7, 6, 5, 4, 3, 2, 1, 5-Jan-7 8, 7, 6, 5, 4, 3, 2, 1, 5-Jan-7 5-Apr-7 5-Apr-7 TD3 TD5 TD8 TD4 26-Apr-7 25-Jun-7 2-Aug-7 16-Oct-7 11-Dec-7 13-Feb-8 9-Apr-8 6-Jun-8 1-Aug-8 29-Sep-8 TC2 TC4 TC6 TC1 26-Apr-7 25-Jun-7 2-Aug-7 16-Oct-7 11-Dec-7 13-Feb-8 5-Jul-7 5-Jul-7 24-Nov-8 27-Jan-9 24-Mar-9 22-May-9 2-Jul-9 15-Sep-9 9-Apr-8 6-Jun-8 1-Aug-8 29-Sep-8 24-Nov-8 27-Jan-9 24-Mar-9 22-May-9 1-11-9 CLEAN - WS RATES 2-Jul-9 15-Sep-9 1-11-9 Tankers 1YR TC RATES VLCC Suezmax Aframax Panamax MR 5-Oct-7 5-Jan-8 5-Apr-8 5-Jul-8 5-Oct-8 5-Jan-9 5-Apr-9 5-Jul-9 5-Oct-9 Tankers 3YR TC RATES VLCC Suezmax Aframax Panamax MR 5-Oct-7 5-Jan-8 5-Apr-8 5-Jul-8 5-Oct-8 5-Jan-9 5-Apr-9 5-Jul-9 5-Oct-9

Dry Market $m Capesize Panamax Supramax Handymax Handysize Baltic Indices Week 46 Week 45 13/11/29 6/11/29 ±% 29 28 27 Index Index Index Index Index BDI 4,111 3,393 21% 2,75 6,663 7,321 BCI 7,183 76,634 5,583 58,727 29% 1,624 9,577 1,172 BPI 3,978 32,22 3,556 28,599 12% 79 6,342 7,283 BSI 2,147 22,553 1,888 19,836 14% 661 4,225 4,788 BHSI 97 14, 885 12,75 1% 529 2,257 2,469 18 16 14 12 1 8 6 4 2 1-Jan-8 1-Feb-8 Period Week Week 46 45 ±% 29 28 27 17K 6mnt TC 61,25 52,75 16% 38,446 117,43 118,66 17K 1yr TC 43,2 38,7 12% 32,779 111,729 17,118 17K 3yr TC 31,25 28,75 9% 27,75 82,429 76,58 7K 6mnt TC 3,95 27,7 12% 2,54 57,623 58,996 7K 1yr TC 23,5 21,5 9% 17,563 55,887 52,567 7K 3yr TC 17,7 17,7 % 15,49 44,556 39,974 52K 6mnt TC 24,75 21, 18% 16,63 47,159 48,822 52K 1yr TC 18,95 16,95 12% 14,325 45,71 45,92 52K 3yr TC 15,5 14,75 5% 13,585 34,38 34, 45k 6mnt TC 2,95 18,2 15% 14,325 41,681 43,639 45k 1yr TC 16,25 15,45 5% 12,586 38,923 4,12 45k 3yr TC 13,95 13,2 6% 12,51 28,431 29,63 3K 6mnt TC 14,25 13,5 6% 11,234 3,547 31,596 3K 1yr TC 12,7 12,2 4% 1,521 29,686 28,32 3K 3yr TC 11,75 11,5 2% 1,742 22,87 22,113 Bulk Carriers SH Values (5yrs) Capesize Panamax Handymax Handysize 1-Mar-8 1-Apr-8 1-May-8 1-Jun-8 1-Jul-8 1-Aug-8 1-Sep-8 1-Oct-8 1-Nov-8 1-Dec-8 1-Jan-9 1-Feb-9 1-Mar-9 1-Apr-9 1-May-9 1-Jun-9 1-Jul-9 1995) was purchased by undisclosed buyers for $22m. 1-Aug-9 1-Sep-9 Baltic Indices The dry sale and purchase market continues to be active with several deals concluded for another week. The panamax Iguana (7,349 dwt-built 1996) was sold to Chinese buyers for $23.5m, earlier this month, the Mahakam (69,997 dwt-built 1996) was sold to Greek buyers for $17.5m. The Consul Pope (68,591 dwt-built The supramax Triton Eagle (52,579 dwt-built 23) was bought by Greek buyers for $25.65m while a few weeks ago, the PL Star (53,74 dwt-built 23) was sold to Thai owners for $25.2m. The handymax market was quite active this week, the Marybelle (42,569 dwt-built 1987) was purchased by Turkish buyers for $1.8m. The sisters Sanko Reliance (42,529 dwt-built 1995) and the Sanko Rose (42,529 dwtbuilt 1995) were sold en bloc to undisclosed buyers for $28.4m. In September the Lake Globe (43,246 dwt-built 1994) was purchased by Chinese buyers for $16m. The Sanko Rejoice (42,529 dwt-built 1994) was bought by undisclosed buyers for $13.75m. In August, the Blue Seas (45.654 dwt-built 1995) was bought by Chinese for $17.6m. The Ulcas (42,244 dwt-built 1985) was sold to South American buyers for $7.8m while the Serife (41,544 dwt-built 1984) was sold in October to Far Eastern buyers for $7.5m. The handymax World Trader I (41,796 dwt-built 1986) was purchased by undisclosed buyers for $8.95m, in September, the Noa (43,59 dwt-built 1985) was sold to Bangladeshi owners for $7.25m. The Silver Sen (41,454 dwt-built 1982) was acquired by Hong Kong based buyers for $5.1m. The handysize Moon Sea (38,313 dwt-built 1984) was purchased by Turkish buyers for $6.9m earlier this month, the Searider (41,53 dwt-built 1984) was sold for $5.5m to Singaporean buyers. The mini bulker Borkum (18,355 dwt-built 1994) was sold to undisclosed buyers for $9.5m. Two mini bulkers were sold at an auction in Hong Kong, the St Spirit (4,75 dwt-built 1992) sold for $1.8m and the St Star (4,75 dwt-built 1991) sold for $1.6m. Index 22, 2, 18, 16, 14, 12, 1, 8, 6, 4, 2, 2-Jan-6 24, 21, 18, 15, 12, 9, 6, 3, 2-Jan-6 2-May-6 2-May-6 2-Sep-6 2-Sep-6 BCI BPI BSI BHSI BDI 2-Jan-7 2-Jan-7 2-May-7 AVR 4TC BCI AVR 5TC BSI 2-May-7 2-Sep-7 2-Sep-7 2-Jan-8 2-May-8 2-Sep-8 2-Jan-9 2-May-9 2-Sep-9 Average T/C Rates for Baltic Indices AVR 4TC BPI AVR 6TC BHSI 2-Jan-8 2-May-8 2-Sep-8 2-Jan-9 2-May-9 2-Sep-9 Dry Bulkers 1 Year Period Rates Capesize Panamax Handymax Supramax Handysize 21, 18, 15, 12, 9, 6, 3, 5-Jan-7 5-Mar-7 5-May-7 5-Jul-7 5-Sep-7 5-Nov-7 5-Jan-8 5-Mar-8 5-May-8 5-Jul-8 5-Sep-8 5-Nov-8 5-Jan-9 5-Mar-9 5-May-9 5-Jul-9 5-Sep-9 5-Nov-9 Dry Bulkers 3 Year Period Rates Capesize Panamax Handymax Supramax Handysize 12, 1, 8, 6, 4, 2, 5-Jan-7 5-Mar-7 5-May-7 5-Jul-7 5-Sep-7 5-Nov-7 5-Jan-8 5-Mar-8 5-May-8 5-Jul-8 5-Sep-8 5-Nov-8 5-Jan-9 5-Mar-9 5-May-9 5-Jul-9 5-Sep-9 5-Nov-9 Intermodal Research 3 17/11/29

Secondhand Sales Intermodal Research 4 17/11/29

$/ldt During the last week, demolition prices were stable with only tonnage bought in Bangladesh and India having an increase. In particular, Bangladeshi breakers purchased wet tonnage for $33/lt and dry for $29/lt. In India, wet tonnage was bought for $315/lt and dry tonnage for $285/lt. Pakistani breakers acquired wet tonnage for $31/lt and dry tonnage for $28/lt but had no sales to report this week. In China, wet tonnage was purchased for $27/lt and dry tonnage for $26/lt. 8 7 6 5 4 3 2 1 7-Jan-5 7-Jul-5 7-Jan-6 7-Jul-6 7-Jan-7 7-Jul-7 7-Jan-8 7-Jul-8 7-Jan-9 7-Jul-9 $/ldt 8 7 6 5 4 3 2 1 7-Jan-5 7-Jul-5 7-Jan-6 7-Jul-6 7-Jan-7 Demolition Market Bangladeshi breakers were very busy this week, acquiring the VLCC Halden (225,28 dwt-34,249 ldt-built 1989) for $332/lt ldt. The aframax tanker Braveheart (94.998 dwt-13,939 ldt-built 1992) was sold for $353/lt ldt while the LR1 Major Dhan Singh Thapa Pvc (67,227 dwt-13,133 ldt-built 1984) for $289.5/lt ldt. The LPG Sussex (18,27 dwt-14,711 ldtbuilt 1981) was sold for $32/lt ldt and the small bulker Pacific Runner was acquired for $31/lt ldt. The containers Oel Enterprise (8,15 dwt-3,638 ldt-built 1985) and the Oel Excellence (8,7 dwt-3,638 ldt-built 1985) were sold en block for $28/lt ldt. The Indian breakers, acquired en bloc the handysize tankers Gem of Mangalore (33,58 dwt-8,661 ldt-built 1981) and the Gem of Kakinada (33,532 dwt-8,813 ldt-built 1982) for $58/lt ldt. Wet Demolition Prices Dry Demolition Prices Bangladesh India Pakis tan China Bangla desh India Pakistan China Wet Dry Indicative Demolition Prices ($/ldt) Markets Week Week 46 45 ±% 29 28 27 Bangladesh 33 32 3.1% 312 591 43 India 315 35 3.3% 285 566 372 Pakistan 31 31.% 294 555 368 China 27 27.% 252 385 254 Bangladesh 29 28 3.6% 266 538 373 India 285 28 1.8% 259 522 35 Pakistan 28 28.% 263 56 342 China 26 26.% 233 339 229 7-Jul-7 7-Jan-8 7-Jul-8 7-Jan-9 7-Jul-9 Intermodal Research 5 17/11/29

New Building Market million $ 18 16 14 12 1 8 6 4 2 Bulkers Tankers Gas 7-Apr-6 7-Jul-6 7-Oct-6 Tankers NB Prices (m$) VLCC Suezma x Aframa x LR1 MR 7-Jan-7 7-Apr-7 7-Jul-7 7-Oct-7 7-Jan-8 7-Apr-8 7-Jul-8 7-Oct-8 7-Jan-9 7-Apr-9 7-Jul-9 7-Oct-9 Indicative Newbuilding Prices (million$) Vessel Week Week 46 45 ±% 29 28 27 Capesize 17k 56. 56.5 -.9% 67 96 87 Panamax 75k 33. 33..% 35 54 47 Supramax 57k 3. 3..% 33 48 43 Handysize 3k 24. 24..% 26 37 33 VLCC 3k 14.5 15. -.5% 12 155 138 Suezmax 15k 63.5 64. -.8% 7 96 86 Aframax 11k 49. 49.5-1.% 59 78 69 LR1 7k 46. 46.5-1.1% 51 66 61 MR 47k 35.5 36. -1.4% 4 52 5 LPG M3 8k 74. 75. -1.3% 8 94 92 LPG M3 52k 68. 68.5 -.7% 72 85 78 LPG M3 23k 47. 47.5-1.1% 48 55 52 Please note that due to the lack of new newbuilding orders in most of the above sectors, the prices are estimates. million $ 14 12 1 8 6 4 2 Bulk Carriers NB Prices (m$) Capes ize Panamax Supra max Handysi ze 7-Apr-6 7-Jul-6 7-Oct-6 7-Jan-7 7-Apr-7 7-Jul-7 7-Oct-7 7-Jan-8 7-Apr-8 7-Jul-8 7-Oct-8 7-Jan-9 7-Apr-9 7-Jul-9 7-Oct-9 There are several rumors regarding suezmax newbuildings and in light of the market showing signs of recovery we believe we will soon see new contracts for suezmax newbuilds during the following weeks. On the dry side, Chinese local owners are the usual clients of Chinese yards these days. In addition to the order by Qinfa Group in Guangzhou Lonxue the previous weeks, Lanhai Shipping has ordered six bulk carriers at the Yangfan yard at a reported price of $4m per vessel. Although this price seems to be very high, (Qinfa has paid around $35m for their order ) we might even see the panamax newbuilding prices rising in our next report. China Shipping placed an order for two panamax bulkers at the Jiangnan Shipyard for $65.2m total. Delivery is due in September and October 21. It is highly likely that this order will be replacing older orders that have been delayed or even cancelled. Intermodal Research 6 17/11/29

Commodities & Financial Market Stock Exchange Data Currencies Commoditites Market Data 16-Nov-9 13-Nov-9 12-Nov-9 11-Nov-9 1-Nov-9 W-O-W Change % Dow Jones 1,47. 1,27.5 1,197.5 1,291.3 1,247. 1.8% Nasdaq 2,198 2,168 2,149 2,167 2,151 2.% S&P 5 1,19 1,93 1,87 1,99 1,93 1.5% FTSEurofirst 3 1,34.5 1,19.4 1,14.9 1,13.9 1,1.2 2.2% DJ Euro Stoxx 5 2,926 2,883 2,877 2,881 2,856 2.3% FTSE 1 5,383 5,296 5,277 5,267 5,231 2.8% FTSE All-Share UK 2,756 2,713 2,71 2,694 2,674 2.9% CAC4 3,863 3,86 3,88 3,814 3,786 2.1% Xetra Dax 5,85 5,687 5,664 5,668 5,613 3.3% Nikkei 9,791 9,77 9,84 9,872 9,871 -.2% Hang Seng 22,944 22,554 22,398 22,627 195 3.3% FTSE All World $ 198.4 194.41 196.17 195.1 1.5 1.7% / $ 1.5 1.49 1.49 1.5 1.67 -.2% / $ 1.68 1.67 1.66 1.66.9.1% / $.89.89.9.9 89.8 -.3% $ / 89.3 89.7 9.5 89.8 15.1 -.6% / 149.8 149.5 149.7 149. 8.7 -.5% $ INDEX 8.3 8.8 81. 8.6 1.51 -.5% / SFr 1.51 1.51 1.51 1.51 79.5 -.1% Oil Brent $ 78.9 76.35 76.94 79.28 77.5 -.7% Oil WTI $ 78.76 75.55 76.2 77.95 1,11.75 1.3% Gold $ 1,118.9 1,14. 1,117.85 1,15.7 1,11.75 1.9% 8 79 78 oil 77 76 75 MDO 38cst 18cst 9-11-9 Basic Commodities Weekly Summary Oil Brent $ Oil WTI $ Gold $ 1-11-9 11-11-9 12-11-9 13-11-9 1,12 1,115 1,11 gold 1,15 1,1 1,95 Bunker Prices W-O-W 13-Nov-9 6-Nov-9 Change % Rotterdam 593.5 62.5-1.5% Houston 627.5 637.5-1.6% Singapore 623. 634. -1.7% Rotterdam 458. 465. -1.5% Houston 465.5 472.5-1.5% Singapore 474.5 469. 1.2% Rotterdam 48. 48.5 -.1% Houston 57.5 51. -.5% Singapore 475.5 482.5-1.5% Company Maritime Stock Data Stock W-O-W Curr. 16-Nov-9 13-Nov-9 12-Nov-9 11-Nov-9 1-Nov-9 9-Nov-9 Exchange Change % Max 52wk Min 52wk AEGEAN MARINE PETROL NYSE USD 27.38 27.12 25.59 24.65 24.14 24.1 13.6% 27.38 7.93 ARIES MARITIME TRANSPORT NASDAQ USD 1.15 1.4 1. 1.2 1.2 1.1 13.9% 1.41.32 CAPITAL PRODUCT PARTNERS L.P. NASDAQ USD 7.59 7.56 7.81 7.67 7.82 7.63 -.5% 11.85 5.23 DANAOS CORP NYSE USD 4.38 4.4 4.36 4.7 4.41 4.25 3.1% 37. 2.93 DIANA SHIPPING NASDAQ USD 16.85 16.3 15.55 15.93 14.39 14.16 19.% 18.52 7.24 DRYSHIPS INC(IPO) NASDAQ USD 7.1 6.85 6.71 6.77 6.24 6.4 9.5% 24.82 2.79 EUROSEAS LTD NASDAQ USD 4.51 4.3 4.2 4.32 4.2 4.2 12.2% 7.88 3.12 EXCEL MARITIME CARRIERS NYSE USD 7.8 6.6 6.56 6.59 5.89 6.12 15.7% 13.72 3.17 FREESEAS INC NASDAQ USD 1.56 1.51 1.51 1.46 1.38 1.4 11.4% 3.49.54 GENCO SHIPPING NYSE USD 27.62 24.91 24.1 23.76 2.72 21.82 26.6% 28.26 1.66 GENERAL MARITIME NYSE USD 7.75 7.16 7.9 7.12 7. 7.1 9.2% 16.17 6.47 GLOBUS MARITIME LTD LONDON GBX 63. 62.5 61.5 61.5 61.5 61.5 2.4% 185. 42.89 GOLDENPORT HOLDINGS INC LONDON GBX 115. 116. 117. 117. 114.25 114.25.7% 25. 85.5 HELLENIC CARRIERS LTD LONDON GBX 82. 88.5 88.5 85.5 85.5 85.5-4.1% 115. 48. NAVIOS MARITIME CORP NYSE USD 6.32 5.82 5.68 5.75 5.34 5.33 18.6% 6.32 1.21 OCEANFREIGHT INC NASDAQ USD 1.14 1.13 1.1 1.15 1. 1.3 1.7% 8.39.82 OMEGA NAVIGATION ENTERPRISES INC NASDAQ USD 3.88 3.7 3.7 3.55 3.51 3.53 9.9% 8.37 3.23 PARAGON SHIPPING INC NASDAQ USD 4.95 4.69 4.55 4.68 4.46 4.39 12.8% 7.2 2.37 STEALTHGAS INC NASDAQ USD 6.8 6.66 6.55 6.86 6.75 6.53 4.1% 8.8 2.72 TOP SHIPS INC NASDAQ USD 1..99.97.98 1. 1.5-4.8% 3.52.77 TSAKOS ENERGY NAVIGATION INC NYSE USD 16.2 15.54 15.22 15.39 15.3 15.6 2.7% 31.3 12.43 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. 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 Eleni Plessa, Mrs Mariana Skiadopoulou E-mail: research@intermodal.gr On behalf of: Intermodal Sale & Purchase and Newbuilding Departments E-mail: snp@intermodal.gr Intermodal Research 7 17/11/29