17-19, Vas. Pavlou Str., GR 166 73, Voula, Athens, Greece Tel: 21 96597 - Fax: 21 89964 - Tlx: 22626 ATH GR Internet Mail athenian@atheniansa.gr Monthly Report November 28 PRICES TANKERS ($ MIO) 24 25 26 27 28 VLCC 5Y 18 117 117.2 136 As a VLCC 1Y 84.5 9 95.8 114.5 Result of SUEZMAX 5Y 75.1 75.3 81 95.5 Market AFRAMAX 5Y 57.2 63 65.3 7 Uncertainty AFRAMAX 1Y 44.3 53.9 51.8 6 Values PANAMAX 5Y 42 48.1 55.5 6.4 Will Not 45K 5Y D/H 39 46.8 47.3 53 Publish 45K 1Y D/H 29.8 38 38.9 44.7 This 45K 2Y 8.8 1.1 13.2 12.8 Month PRICES BULKERS ($ MIO) 24 25 26 27 28 CAPESIZE 5Y 65 56.8 81.2 11 As a CAPESIZE 1Y 45.8 38.2 61.8 84 Result of CAPESIZE 15Y 35.5 28.2 43 69.2 Market CAPESIZE 2Y 2 18.5 21.3 35.5 Uncertainty PANAMAX 5Y 4.3 29.4 45.4 72 Values PANAMAX 1Y 3.5 23.8 37 58 Will Not PANAMAX 15Y 23.2 18.5 27.7 42.8 Publish PANAMAX 2Y 16.2 1.6 16.1 3.3 This HANDYMAX 5Y 29.2 25.4 4 57.5 Month HANDYMAX 1Y 22.2 2.7 32 45 HANDYMAX 15Y 18.5 16.5 22.1 37.2 HANDYMAX 2Y 13.8 1.1 15.4 26.5 24 2 16 12 8 4 5 4 3 2 1 S&P ACTIVITY - TANKERS (<5, Dwt) 211 THIS MONTH S&P ACTIVITY - DRY (<5, Dwt) 391 AVAILABLE FOR SALE REPORTED SOLD 25 2 18 57 THIS MONTH PREVIOUS MONTH AVAILABLE FOR SALE REPORTED SOLD 48 23 PREVIOUS MONTH BALTIC INDICES 18 16 14 12 1 8 6 4 2 49 52 3 6 9 12 15 18 21 24 27 3 33 36 39 42 45 48 WEEK NO 27 Baltic Panamax Index Baltic Dry Index Baltic Capesize Index Baltic Supramax Index Baltic Handysize Index
Tanker Sales NAME DWT BLT PRICE $ BUYER ANNUITY 3294 88 DENMARK DH 4 MIO ARGENTINIAN ORIBI 6155 96 CHINA DH 5 MIO UNDISCLOSED ABTAO 9145 81 JAPAN DB 2.2 MIO NIGERIAN GEMI 12934 8 S.KOREA DH 28 MIO UNDISCLOSED DITAS 1485 82 TURKEY SH 5 MIO AFRICAN KAPITAN YERSHOV 17639 85 CROATIA DB 7.5 MIO UNDISCLOSED CHEM TULIP 33425 98 UKRAINE DH 22 ASIAN ATLANTIC CROWN 466 7 S.KOREA DH * ENBLOC BSS ATLANTIC EAGLE 466 7 S.KOREA DH 116 MIO MOSK, JAPAN(Incl 12 mos t/c at 23.9 pd) PRIMORYE 15177 S.KOREA DH 51 MIO VIETNAMESE ARCHIMID 15896 85 S.KOREA DS 11 MIO BOSKALIS(FOR CONV) TRUST 15896 86 S.KOREA DS 11 MIO BOSKALIS(FOR CONV) PACIFIC APOLLO 115577 7 JAPAN DH 7 MIO UNDISCLOSED MATILDA 159233 7 S.KOREA DH 95 MIO GNMTC, LIBYA APEX SPIRIT 1594 8 S.KOREA DH 98 MIO GNMTC, LIBYA TITAN NEPTUNE 265243 88 S.KOREA SH 24 MIO GOLDEN SUNRAY, PANAMA Baltic Clean Tanker 12 115 11 15 1 95 9 85 8 3-11-8 8-11-8 13-11-8 18-11-8 23-11-8 28-11-8 Baltic Dirty Tanker 14 135 13 125 12 115 11 15 1 95 9 85 8 3-11-8 8-11-8 13-11-8 18-11-8 23-11-8 28-11-8 Gas Sales NAME DWT BLT CBM PRICE $ BUYER BW HERBIS 19999 83 NORWAY 2366 2 MIO UNDISCLOSED BALTIC DIRTY TANKER INDEX BALTIC CLEAN TANKER INDEX 25 2 15 1 5 49 2 7 12 17 22 27 32 37 42 47 WEEK NO 25 2 15 1 5 49 2 7 12 17 22 27 32 37 42 47 WEEK NO
Bulker Sales NAME DWT BLT GEAR PRICE $ BUYER T YOUNG 6217 79 JAPAN GLESS 2.9 MIO INDONESIAN MARION STAR 23492 99 PHILIPPINES CR 4X3 15.5 MIO VINASHIN LINES ENFORCER II 23683 81 JAPAN D 4X25 2.5 MIO UNDISCLOSED SANKO PRELUDE 2394 84 JAPAN CR 3X25 3.3 MIO UNDISCLOSED CR2X15,2X1,D ARETOUSA 24715 79 JAPAN 2X5 1.65 MIO MIDDLE EASTERN LEPETANE 26771 84 BRAZIL CR 4X16 2.55 MIO UNDISCLOSED EVROPI 27139 81 JAPAN CR 4X25 1.95 MIO UNDISCLOSED JAG VIDYA 27451 77 JAPAN CR 5X15 1.65 MIO UNDISCLOSED ALLY II 3453 77 JAPAN CR 4X15 6 MIO GOLDOCEAN INTL INVESTEMENT KS HOPE 35112 78 JAPAN CR 5X15 3.2 MIO UNDISCLOSED GOLDEN LION 3899 85 JAPAN CR 4X25 5.6 MIO SYRIAN ALFIE 4864 86 JAPAN CR 4X25 4.8 MIO CHINESE JAG RISHI 4193 84 JAPAN CR 4X25 3.85 MIO UNDISCLOSED ICE TRADER II 4376 95 S.KOREA CR 4X25 13 MIO VIKEN, NORWAY ICE POWER II 43732 95 S.KOREA CR 4X25 13.5 MIO VIKEN, NORWAY SOLAR EUROPE 46667 98 JAPAN CR 4X3 18 MIO UNDISCLOSED SEABEE 46671 99 JAPAN CR 4X31 22.35 MIO VOSCO, VIETNAM COSMOS 5326 1 JAPAN CR 4X31 22 MIO EASTERN MED. MARITIME,GREECE PACIFIC VICTORY 52394 1 JAPAN CR 4X3 22 MIO UNDISCLOSED NORD VISION 5254 4 PHILIPPINES CR 4X3 25 MIO UNDISCLOSED THIA CHRYSSOULA 5258 9 UKRAINE CR 4X3 11 MIO CHINESE IKAN SALMON 53553 3 JAPAN CR 4X3.5 25 MIO UNDISCLOSED PACIFIC ISLAND 543 8 JAPAN CR 4X3 33.5 MIO NISSHIN, JAPAN NORDHOLT 55697 5 JAPAN CR 4X3 26.5 MIO GREEK NORD HOLT 55697 5 JAPAN CR 4X3 26.5 MIO GREEK LAKE HARUMI 55699 6 JAPAN CR 4X3 3 MIO NISSHIN, JAPAN TONGA 66798 84 CHINA GLESS 3.75 MIO COURAGE MARINE, TAIWAN NAVIGATOR II 69146 98 BRAZIL 2 MIO VIKEN, NORWAY ENDURANCE II 73 94 CHINA GLESS 15 MIO VIKEN, NORWAY ENDEAVOUR II 729 94 CHINA GLESS 15 MIO VIKEN, NORWAY NORD SATURN 7662 5 JAPAN GLESS 3 MIO GREEK NORD SUN 7683 4 JAPAN GLESS 28.7 MIO TARGET MARINE, GREECE(1YR T/C BACK) COROSSOL 27785 85 S.KOREA 25 MIO CHINESE
Spot Market - Tankers VLCC SUEZMAX AFRAMAX Spot Market - Bulkers CAPESIZE PANAMAX HANDYMAX $/Day 24 21 18 15 12 9 6 3 Nov-7 Mar-8 Jul-8 Nov-8 $/Day 2 18 16 14 12 1 8 6 4 2 Nov-7 Mar-8 Jul-8 Nov-8 Period Market - Tankers VLCC SUEZMAX AF R AMAX Period Market - Bulkers CAPESIZE PANAMAX HANDYMAX $/Day 95 8 65 5 35 2 Nov-7 Mar-8 Jul-8 Nov-8 $/Day 18 165 15 135 12 15 9 75 6 45 3 15 Nov-7 Mar-8 Jul-8 Nov-8
Baltic Handysize Baltic Supramax 5 45 4 35 3 25 2 15 3-11-8 8-11-8 13-11-8 18-11-8 23-11-8 28-11-8 8 75 7 65 6 55 5 45 3-11-8 8-11-8 13-11-8 18-11-8 23-11-8 28-11-8 BDI 1 9 8 7 6 5 3-11-8 8-11-8 13-11-8 18-11-8 23-11-8 28-11-8 Baltic Panamax Baltic Capesize 15 14 13 12 11 1 9 8 7 6 5 3-11-8 8-11-8 13-11-8 18-11-8 23-11-8 28-11-8 14 13 12 11 1 9 8 7 3-11-8 8-11-8 13-11-8 18-11-8 23-11-8 28-11-8
Newbuilding Market and Reported Contracts Tanker Prices VLCC Suezmax Af ramax Handy Bulker Prices Capesize Handy max Panamax Handy size $m 18 16 14 12 1 8 6 4 2 145 136.5 155 85 66.5 152 9 96 92.5 72 77 76.5 49 52 52.5 47.5 Dec-6 May-7 Oct-7 Mar-8 Aug-8 $m 12 1 87.5 96 95.5 88 8 54 55.5 6 46 46.5 47.5 48 4 42 42 31 34 36 33 2 Dec-6 May-7 Oct-7 Mar-8 Aug-8 TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES TANK 32 STX SHIPBUILDING NOV-11 156 MIO DOLPHIN TANKER TANK 32 STX SHIPBUILDING 156 MIO DOLPHIN TANKER OPTION TANK 85 SUMBER SAMUDRA JAN-1 E.A. TECHNIQUE TANK 85 SUMBER SAMUDRA FEB-1 E.A. TECHNIQUE TANK 85 SUMBER SAMUDRA FEB-1 E.A. TECHNIQUE No. of Vessels 17 16 15 14 13 12 11 1 9 8 7 6 5 4 3 2 1 Newbuilding Sales 91 43 42 86 157 48 Tankers >1, dwt Bulkers >1, dwt Containerships 394 985 26 27 Nov-8 175 m. dwt 25 2 15 1 5 Delivery Schedule 9.5 13.4 Nov8 until end of year 67.1 59.1 Bulkers >1, dwt. Tankers >1, dwt 216.5 11 29 21+ m. dwt Tanker Newbuildings on Order 9 8 7 6 5 4 3 2 1 52 53.3 16.8 24.5 31 22 31.7 4.8 VLCC Aframax Products 79.1 28.4 29.1 1 9.3 9.5 26 27 Nov-8 Suezmax Panamax 37.6 m. dwt Bulker Newbuildings on Order 18 16 14 12 11 1 8 6 46.2 37 4 4 2 16 17.2 2 8 Capesize Panamax Handymax 155 59.7 52.3 27.6 26 27 Nov-8 Handysize
Newbuilding Historical Prices ($m) Tankers 28 27 26 25 24 23 22 21 1995 199 1988 1985 28, DWT 152 145 13 12 18 77.1 65.4 69.9 85.3 87.4 7.1 ** 38.2 14, DWT 92.5 9 8 71.5 71 51.4 45.2 46.3 54 66.1 44.8 **28.2 95, DWT 76.5 72 65.5 58 6 41.4 36.2 36.3 43.3 53.2 **35.2 **18.1 4, DWT 47.5 52 47 43 39 31.4 28.4 26.2 33.2 *32.1 *25.2 *13.3 Bulkers 15, DWT 88 96 67 58.5 64.5 48.2 36.2 35.8 42.3 6.2 42.1 29.3 69, DWT 46.5 54 39.5 36 37 27.1 21.4 2.3 27.9 3 25.1 13.4 42, DWT 42 47.5 37 31 3 24.1 19.2 18.4 24.1 25.3 23.1 12.4 29, DWT 33 34 27.5 25.5 24 18.1 15.2 14.2 19.2 21.3 18.4 9.7 *3, DWT - ** SINGLE HULL (note: above is for vessels built Japan / Korea, you should also consider US$ / Yen relation for the years mentioned)
Demolition Market $ 78 73 68 63 58 53 48 43 38 33 28 23 18 26 TANKERS 27 28 25 JAN MAR MAY JUL SEP NOV $ 73 68 63 58 53 48 43 38 33 28 23 18 26 BULKERS 25 28 27 JAN MAR MAY JUL SEP NOV India TYPE NAME DWT BLT LDT PRICE $/LDT BULK DOCTOR RAMI 3699 68 1998 19 TWEEN LUCKY O 14842 79 4 25 CONT WINDWARD 21885 74 6699 225 TWEEN IBN YOUNUS 23828 77 7673 29 CONT LEBLON 2352 82 9975 2 CONT ALIANCA URCA 2352 81 173 2 BULK LEDRA 61981 8 15 27 BULK OCEAN EXPRESS 51854 74 11574 215 BULK FLAG EPOS 6412 81 1257 265 BULK SWIFT-FLAME 75594 81 13217 255 BULK FU SHUN HAI 54158 83 14628 2 BULK SWIFT-FAIR 7547 81 1734 255 Bangladesh TYPE NAME DWT BLT LDT PRICE $/LDT BULK SPAR THREE 35941 82 9121 23 BULK HELEN B 6942 83 16899 27 COMBO SWIFT FAVOUR 82462 81 17 25 BULK BRAVE JL 65418 84 1737 21 BULK HEBEI DILIGENCE 65484 84 1779 25 BULK DANNING PRINCESS 64854 81 1779 25 TANK HAWAIAN STAR 99335 87 18559 29 COMBO HEBEI HAWK 13516 83 21835 225 COMBO DION 141497 81 25839 28 COMBO HEBEI CENTURY 147283 82 36 225 China TYPE NAME DWT BLT LDT PRICE $/LDT BULK KAPADOKIA 141475 81 2396 18
Market Indicators CURRENCIES EUR-USD USD-JPY 1.65 1.6 1.55 1.5 1.45 1.4 1.35 1.3 1.25 1.2 1/11/7 1/1/8 1/3/8 1/5/8 1/7/8 1/9/8 1/11/8 12 115 11 15 1 95 9 BRENT OIL 2 15 $/Barrel 1 5 1/1/8 1/3/8 1/5/8 1/7/8 1/9/8 1/11/8
Stock Watch NAME TICKER THIS MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW Aries Maritime RAMS.81 1.1-26.4 9.87.65 Capital Product Partners CPLP 7.79 11.37-31.5 27.75 5.52 Diana Shipping DSX 7.64 16.63-54.1 45.15 6.85 Dryships DRYS 4.15 19.25-78.4 131.34 3.4 Eagle Bulk EGLE 3.61 9.97-63.8 36.24 2.55 Euroseas ESEA 3.81 4.87-21.8 19.7 2.88 Excel Martime EXM 3.84 11.44-66.4 81.99 3.78 Freeseas FREE 1.11 2.1-47.1 1.48.87 Genco Shipping&Trading GNK 7.18 2.85-65.6 84.51 6.43 General Maritime GMR 1.8 15.15-28.7 31 8.72 Goldenport GPRT 99 93 6.5 515 88 Navios NM 1.7 2.79-39.1 19.76 1.1 Oceanfreight OCNF 2.85 6.6-56.8 3.48 1.8 Omega Navigation ONAV 6.13 5.58 9.9 22.2 4.72 Paragon PRGN 3.96 5.6-29.3 27.34 2.25 Safe Bulkers SB 4.8 5.51-26 19.75 2.98 Star Bulk SBLK 1.99 3.61-44.9 15.5 1.94 Stealthgas GASS 3.82 6.9-44.6 18.22 2.6 TEN TNP 18.23 24.74-26.3 39.48 16.45 TOP Ships TOPS 1.91 1.7 12.4 22.23 1.25 * 1/12/8 closing values 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, Athenian Shipbrokers S.A.