WEEKLY SHIPPING

MARKET REPORT WEEK 30

- 25th July to 29st July 2011 -

Legal Disclamer

The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up to date, Shiptrade Services S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report.

Researched and compiled by: Shiptrade Services SA, Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions please contact: market-research@shiptrade.gr

Shiptrade Services SA Tel +30 210 4181814 snp@shiptrade.gr 1st Floor, 110/112 Notara Street Fax +30 210 4181142 chartering@shiptrade.gr 185 35 Piraeus, Greece www.shiptrade.gr tankerchartering@shiptrade.gr

1

IMO okays use of armed guards on ships The United Nations' (UN) International Maritime Organization (IMO) has endorsed the use of private armed guards to protect ships from pirate attacks. After a meeting in IMO's London headquarters, the maritime body issued guidelines for the use of guards on board ships in areas of high risk, including in the Indian Ocean. About one in 10 ships off the Somali coast already carry armed guards. But observers say this number is likely to rise now that the UN has endorsed the practice. The IMO says there were 489 reports of piracy and armed robbery against ships in 2010 - up to more than 20 percent on 2009. The areas worst affected were the Indian Ocean, East Africa and the Far East including the South China Sea, South America and the Caribbean. So far this year, more than 200 cases have been reported. Reports say piracy in the Indian Ocean is getting more lucrative and more violent, despite an anti-piracy European Union naval force patrolling the area. The IMO insists that the guidelines are not intended to institutionalize the use of armed, privately contracted security staff on ships and that they do not address all the legal issues that could be linked to their use. The IMO describes the guidance as "interim recommendations" and says it will review them in September. (PNA) Fire Damages Formosa Petrochemical Refinery At Embattled Mailiao Complex

A fire early Saturday morning damaged part of a refinery operated by Formosa Petrochemical Corp. (6505.TW) at the Mailiao petrochemical complex in southern Taiwan, a local official said. A spokesperson for Formosa Petrochemical said the company had shut down part of the refinery affected by the fire, but had not yet determined the amount of damage caused. He also would not say whether or not the company had stopped production at the refinery. No one was injured by the fire, which started when a propylene leak from equipment within the refinery ignited. The fire is the most recent in a string of accidents at the Mailiao complex. Early last month, a county government in southern Taiwan ordered several facilities at the complex--

including the 700,000-metric-ton-a-year No. 1 naphtha cracker run by Formosa Petrochemical--to be shuttered after a series of fires broke out at the site in May. Formosa Plastics Group, of which Formosa Petrochemical is a listed unit, said earlier this month it submitted a request to the county government in mid-June to resume production, but it remains unknown when the resumption will take place. Analysts said they expect production at the Mailiao complex to return to normal in August, provided the government is satisfied with the safety precautions put in place. (Dow Jones Newswires)

DRYS: ‘not our order’ DryShips is not looking to take on LNG tonnage in the near term as it remains focused on the acquisition of OceanFreight and the listing of drilling affiliate Ocean Rig, sources said Friday. When contacted by TradeWinds, the Nasdaq-listed owner said “it is not involved” in an $848m order backed by a private affiliate of chief executive George Economou but failed to elaborate further. In a related research note, Wells Fargo Securities analyst Michael Webber offered additional insight, telling clients that DryShips is “not currently looking at expanding into LNG”, citing early morning conversations with management. While the Greek shipping syndicate may have distanced itself from the booking of up to six LNG carriers at South Korea’s Daewoo Shipbuilding & Marine Engineering, the analyst stood by an earlier prediction that proceeds from the Ocean Rig IPO could help bankroll the acquisition of LNG assets. In a digest of the Economou deal, Webber noted: “The [LNG carrier] assets do not start delivering until 2014, which provides a long window for an eventual sale to DryShips (similar to the DRYS' tanker acquisition in Q4 of 2010). "While LNG fundamentals remain very firm, we would view any related party sale as a negative. That said, we believe any potential transaction is likely outside the scope of our current short-term investment thesis, likely an H2 2011 event in our view.” It is widely believed that the order was penned by Cardiff Marine, but an official statement has not been made. (Tradewinds)

Shipping , Commodities & Financial News

2

In Brief: Another week of dropping rates in all sectors, but BSI suffered the less. BDI lost 53 points, BCI lost 78 points, BPI lost 29 points, BSI lost 11 points, and BHSI lost 19 points Capes: A soft week across both regions due to lack of enquiries. The Atlantic basin experienced a steeper decline with rates for Transatlantic round dropping at around USD 11.500 per day. Fronthaul trade was also quiet but Charterers who did cover, did so at levels around USD 19.50 – 19.85pmt basis Tubarao/Qingdao. In the Pacific region, there was still some activity but rates moved a bit lower, at levels around USD 7.65 - 7.85pmt basis W.Australia/China. Owners were looking also for alternative routes as we saw some stems ex S.Africa to Europe. Panamax: Activity was steady but rates moved downwards in both basins. In the Atlantic rates softened just a bit, as an effect of the ballasters from the pacific. Eventually rates for Transatlantic round concluded at USD 14.000 per day. On the Fronthaul trade, there was not too much activity and rates remained around USD 22.000 per day for trips ex Continent/Med, while the ECSA/F.EAST trade, concluded at levels around USD 23.000 plus USD 400.000 ballast bonus. In the Pacific there was a quiet week gradually softening and rates for Pacific round were done around USD 8.000-8.500 per day basis N. China delivery, while rates for trips ex NOPAC moved upwards at levels around USD 11.000 per day basis delivery N.China/Japan range. (M/V Cf diamond 75.600/11’)

Supramax: A week with mixed feelings at both basins.

In the Atlantic region, the Continent/Mediterranean market was quiet with supras’ reported fixed around USD 4.000 per day for cargoes to USG, while scrap stems ex Continent to Mediterranean sea were done at USD mid teens. Rates for Transatlantic round remained around USD 14-15.000 per day. Fixtures for trips to Far East reported USD high teens - 20.000per day, for GOA traders ex Mediterranean. On the ECSA/F.East market fixtures reported at levels around USD 20.000 – low twenties per day basis W.Africa delivery. In the pacific market increased, with Indonesia being the driving force. Rates for Pacific round held at levels USD 9.000-10.000per day, while trips ex Nopac were performed around USD 10.000 per day basis N.China delivery (M/V Cos Orchid 55.539/06’). Handysize: Rates drifted further down. In the Atlantic region the Continent/Mediterranean/Black Sea remains flat, with not many cargoes moving eventhough we could see some coal stems to Mediterranean Sea and some grain cargoes from the Black sea. On the ECSA market grain are still available but sugar parcels are scarce. In the Pacific there was still a constant flow of coal to China, clinker to destination Bangladesh is always there, and a few steel parcels.

Dry Bulk - Chartering

3

Baltic Indices – Dry Market (*Friday’s closing values)

Index Week 30 Week 29 Change (%) BDI 1264 1323 -4,46

BCI 1749 1841 -5,00

BPI 1511 1535 -1,56

BSI 1259 1271 -0,94

BHSI 676 697 -3,01

T/C Rates (1 yr - $/day)

Type Size Week 30 Week 29 Change (%)

Capesize 160 / 175,000 11200 11500 -2,61

Panamax 72 / 76,000 11500 11700 -1,71

Supramax 52 / 57,000 12500 12000 4,17

Handysize 30 / 35,000 11300 11500 -1,74

Average Spot Rates

Type Size Route Week 30 Week 29 Change %

Capesize 160 / 175,000

Far East – ATL 100 300 -66,67

Cont/Med – Far East 22000 23000 -4,35

Pacific RV 8500 9400 -9,57

TransAtlantic RV 11500 12100 -4,96

Panamax 72 / 76,000

Far East – ATL 5000 8000 -37,50

ATL / Far East 21700 21500 0,93

Pacific RV 8400 8700 -3,45

TransAtlantic RV 14300 14800 -3,38

Supramax 52 / 57,000

Far East – ATL 7100 7000 1,43

ATL / Far East 19000 20000 -5,00

Pacific RV 9800 9500 3,16

TransAtlantic RV 14800 15000 -1,33

Handysize 30 / 35,000

Far East – ATL 6800 6800 0,00

ATL / Far East 15300 15300 0,00

Pacific RV 9100 9000 1,11

TransAtlantic RV 9800 9900 -1,01

Dry Bulk - Chartering

4

ANNUAL

MAY 2011 – JULY 2011

Dry Bulk - Chartering

5

Dry Bulk - Chartering

Capesize Routes – Atlantic 2010 / 11

$0,00

$10.000,00

$20.000,00

$30.000,00

$40.000,00

$50.000,00

$60.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

C2 TUB/ ROT

C4RBAY /ROTC7 BOL/ ROT

C8 T/ARV

AVGALL TC

Capesize Routes – Pacific 2010 / 11

$0,00

$10.000,00

$20.000,00

$30.000,00

$40.000,00

$50.000,00

$60.000,00

$70.000,00

$80.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

C3 TUB /PRC

C5 WAUST /PRC

C9 CONT /FE

C10 FE R/V

Panamax Routes – Atlantic 2010 / 11

$0,00

$5.000,00

$10.000,00

$15.000,00

$20.000,00

$25.000,00

$30.000,00

$35.000,00

$40.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

P1A T/A RV

P2A CONT/FE

6

Dry Bulk - Chartering

Panamax Routes – Pacific 2010 /11

$0,00

$5.000,00

$10.000,00

$15.000,00

$20.000,00

$25.000,00

$30.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

P3A FE R/V

P4 FE/CON

AVG ALL TC

Supramax Routes – Atlantic 2010 /11

$0,00

$5.000,00

$10.000,00

$15.000,00

$20.000,00

$25.000,00

$30.000,00

$35.000,00

$40.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

S1A CON / FE

S1B BSEA / FE

S4A USG /CONT

S4B CONT /USG

S5 WAFR / FE

Supramax Routes – Pacific 2010 / 11

$0,00

$5.000,00

$10.000,00

$15.000,00

$20.000,00

$25.000,00

$30.000,00

$35.000,00

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

S2 FE R/V

S3 FE / CON

S6 FE / INDI

S7 ECI / CHI

AVG ALL TC

7

In Brief: Much to everybody's relief, President Obama announced on Sunday night that congressional leaders reached an

agreement to increase U.S. debt ceiling while cutting federal spending over the next ten years. Nevertheless, economic data

released last week showed that the world’s two biggest economies are experiencing a slowdown. According to U.S. Labor

Department unemployment increased in more than half of States, while China’s imports in June increased less than expected and

GDP continued to grow more slowly amid inflation. There were some good news, however, as Japan posted a trade surplus for

June, the first after the 11th March disaster.

VLCC: In the Middle East Gulf rates were kept at previous levels, mainly due to rising bunker costs as the number of available units

in the area was quite large for owners to pose any resistance. In West Africa the freight differential didn’t allow for VLCCs to be

considered as co-load units and in addition with a drop in demand, a slide in rates was noticed

Suezmax: Rates in West Africa for transatlantic movements lost more ground due to oversupply but apparently the market will

stop falling soon since bunkers costs have risen and are now leaving not much space for owners to retreat any further. In the Black

Sea Suezmaxes for Mediterranean options weren’t that active and rates slipped a couple of wordscale points.

Aframax: The market was relatively stable and no significant gains or losses were witnessed. Cross-Mediterranean runs saw an

improvement in activity and rates ticked upward. Similarly, in the North Sea demand picked up but available tonnage was more

than enough for rates to post any gains. Rates improved slightly for AG/East options but the considerable drop in enquiries will

soon be reflected on rates as well. Healthy demand was noticed for the Caribbean Aframax which held previous high levels for yet

another week.

Products: As mentioned last week, the TC5 continued its advancement and managed to outrun its “bigger brother” that didn’t

move away from previous levels. However, the fire that broke out last weekend at the Mailiao petrochemical complex and forced

Formosa to shut down part of the refinery, is expected to affect the market significantly. Mixed feelings in the Caribbean where

MRs witnessed healthy activity and as a result rates improved, whereas on the other hand Panamaxes lost more than two

wordscale points on the back of weak demand and abundant tonnage. In Europe, the TC2 once again managed to excite owners as

thinning tonnage and steady demand helped to push up rates, while Panamaxes for transatlantic options remained at previous

levels.

Baltic Indices – Wet Market (*Friday’s closing values)

Index Week 30 Week 29 Change (%)

BCTI 684 678 0,88

BDTI 721 733 -1,64

T/C Rates (1 yr - $/day)

Type Size Week 30 Week 29 Change (%)

VLCC 300.000 26250 26250 0,00

Suezmax 150.000 19500 19750 -1,27

Aframax 105.000 15750 15750 0,00

Panamax 70.000 15500 15500 0,00

MR 47.000 14250 14000 1,79

Tanker - Chartering

Tanker - Chartering

8

Crude Tanker Average Spot Rates

Type Size (Dwt) Route Week 30 WS

Week 29 WS

Change %

VLCC

280,000 AG – USG 37 37 0,00

260,000 W.AFR – USG 47.5 49 -3,06

260,000 AG – East / Japan 49 49 0,00

Suezmax 135,000 B.Sea – Med 75 77.5 -3,23

130,000 WAF – USAC 69 72.5 -4,83

Aframax

80,000 Med – Med 87 86 1,16

80,000 N. Sea – UKC 101 101 0,00

80,000 AG – East 114 110 3,64

70,000 Caribs – USG 115 115 0,00

Product Tanker Average Spot Rates

Type Size (Dwt) Route Week 30 WS

Week 29 WS

Change %

Clean

75,000 AG – Japan 127.5 127.5 0,00

55,000 AG – Japan 129 127.5 1,18

38,000 Caribs – USAC 160 155 3,23

37,000 Cont – TA 152 147.5 3,05

Dirty

55,000 Cont – TA 115 115 0,00

50,000 Caribs – USAC 115 117.5 -2,13

Tanker - Chartering

9

VLCC Trading Routes 2010 / 11

0

10

20

30

40

50

60

70

80

90

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

AG -USG

WAFR -USG

AGEASTJAPAN

Suezmax Trading Routes 2010 / 11

0

20

40

60

80

100

120

140

160

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

B. SEA- MED

WAF -USAC

Aframax Trading Routes 2010 / 11

0

20

40

60

80

100

120

140

160

180

200

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

MED - MED

N.SEA - UKC

AG - EAST

CARIBS USG

Tanker - Chartering

10

Clean Trading Routes – 2010 / 11

0

50

100

150

200

250

300

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

AG - JAPAN (75,000)

AG - JAPAN (55,000)

CARIBS - USAC(38,000)

CONT - TA (37,000)

Dirty Trading Routes – 2010 / 11

0

50

100

150

200

250

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

CONT - TA(55,000)

CARIBS - USAC(50,000)

Tanker - Chartering

11

Waiting for Vessels value depreciations…..

Besides the enbloc sale of Cido’s of 30 MR tankers, on the sales front we have seen a few traditional S&P transactions

lately and Buyers are patiently watching the market, with some expecting further corrections in prices in order to reflect

the present physical freight and chartering market. Shipping finance is facing rough times and several issues, which the

bankers have to try and resolve in their own internal market till the end of summer, shipowners continue facing difficulties

in securing the needed resources.

Highlights of the week are:

In the weeks’ end, “Diamond S Tankers” has reportedly agreed with “Cido” for the en bloc purchase of 30 of their MR

Product tankers. The vessels are about 47.000 dwt built in Korea. According to market information, most of these vessels

have 3 to 5 year charters attached at a base rate of USD 16.000 per day with a 50-50 profit sharing scheme above these

rates. This deal is reportedly financed by Private equity and DnB Nor and Nordea banks. The buyer is said to have been

purchasing the owning companies instead of just purchasing the vessels and transferring them to other owning companies.

This has been agreed in order to save time and in order not to disturb the attached charters, as this is a very large and

complicated transaction.

Following the recent sale of their two Aframaxes, “Torm” continued with the sale of one more modern aframax tanker. The

M/T “Torm Margit” (about 109.000 dwt, built Dalian CHN 2007) has been reported sold for USD 47 million, with a TC back

to Torm at undisclosed rates and duration.

Despite the fact that some market reports have mentioned the sale of M/V “Triton Osprey” (about 81.500 dwt Built

Universal JPN 2007) for region USD 31 mill, this is far from true. Her owners seem to have seen offers at mid 27 million

levels which were not of interest as they were looking to sell her for something around USD 30 million and therefore have

decided to temporize her sale for the time being.

Although Buyers are still looking to purchase new vessels, perhaps they are getting ready for this autumn in order to begin

their acquisitions. All sizes and ages are in demand in the dry sector with no particular news for specific sizes. In the wet

sector we still see many requirements for MR tankers followed by a few inquiries for larger tankers, however interest for

smaller chemical / products tankers seems to have increased.

NEWBUILDNGS

In the newbuldings market, we have seen 21 vessels reported to have been contracted.

8 Bulk carriers (Supramax and Panamax)

2 Tankers (Aframax)

6 LNG (159.800 CBM)

5 Container (6.700 TEU’s)

DEMOLITION

The market in Bangladesh is still idle. Indian buyers have acquired some high profile tankers although it remains to be seen

if this will continue and remain at similar levels. In China the levels remain the same.

Sale & Purchase

12

Indicative Market Values – ( 5 yrs old / Mill $ )

Bulk Carriers

Week 30 Week 29 Change %

Capesize 43 43 -

Panamax 30 30 -

Supramax 26 26 -

Handysize 21 21 -

Tankers

VLCC 82 82 -

Suezmax 55 55 -

Aframax 40 40 -

Panamax 34 34 -

MR 26 26 -

Weekly Purchase Enquiries

SHIPTRADE P/E WEEKLY INDEX

0

50

100

150

200

250

300

350

4/1-10/1/2011

11/1-17/1/201

1

18/1-24/1/201

1

25-31/1/201

1

1-7/2/2010

8-14/2/2011

15-21/2/201

1

22-28/2/201

1

01-07/3/201

1

08-14/3/201

1

15-21/03/20

11

22-28/03/20

11

29/03

-4/4/201

1

5/4/-11/4/20

11

12-18/4/201

1

19-25/4/201

1

26/4-2/5/2011

3-9/5/2011

10-16/5/201

1

17-23/5/201

1

24-30/5/201

1

31/5-6/6/2011

7-13/6/2011

14-20/6/201

1

21-27/6/201

1

28/6-4/7/2011

5-11/7/2011

12-18/7/201

1

19-25/7/201

1

26/7-1/8/2011

Series1 Series2

Series3 Series6

Series7 Series4

Series5

Sale & Purchase

13

Reported Second-hand Sales

Bulk Carriers Name Dwt DoB Yard SS Engine Gear Price Buyer

Patriot 52.000 2004 Tsuneishi, JPN 11/2014 B&W 4 X 30 T 24 Each Enbloc

Undisclosed Lord 52.000 2004 Tsuneishi, PHIL 04/2014 B&W 4 X 30 T

Grand View 43.980 1994 Daewoo, JPN 04/2014 B&W 4 X 25 T 13.5 Undisclosed

Drake 42.842 1985 Mitsubishi, JPN 02/2015 Sulzer 4 X 25 T 8 Undisclosed

Ocean Trader 32.708 1983 Minami, JPN 02/2013 B&W 5 X 25 T

6.8 with TC Back @

11.500/day for 2 years

Greek

Amor II 32.000 2011 Hyundai Samho, KR 06/2016 B&W 4 X 30 T 26 Turkish

Clipper Lagoon 28.200 2004 Imabari, JPN 02/2014 B&W 4 X 30 T 20.5 Greek

Adventurer 27.622 1984 Mitsui, JPN 09/2014 B&W 4 X 25 T 6 Undisclosed

Polarqueen 24.993 1999 Imabari, JPN 10/2013 B&W 3 X 30 T 13 German

Tankers Name Dwt DoB Yard SS Engine Hull Price Buyer

Eco Europa 149.258 1994 Fincantieri, IT 06/2014 Sulzer DH 13.8 Middle East

Torm Margit 109.672 2007 Dalin, CHN 4/2012 Wartsila DH 47

with long TC back Undisclosed

Sale & Purchase

14

Newbuilding Orders

No Type Dwt / Unit Yard Delivery Owner Price 5 BC 76.000 Tianjin Xingang 2012/2013 Tianjin Guo Dian -

3 BC 57.000 Hyundai Mipo 2012/2013 Aruna Shipping 30-31

2 Tanker 115.000 Aker Philadelphia 2014 Sea River Maritime -

4 + 2 LNG 159.800 DSME 2014 - 850

Enbloc

3 Container 6.700 Hyundai Samho 2013 Technomar -

2 Container 6.700 Hyundai Samho 2013 Aeolos -

Newbuilding Prices (Mill $) – Japanese/ S. Korean Yards

Newbuilding Resale Prices

Bulk Carriers

Capesize 55 56

Panamax 36 40

Supramax 31 34

Handysize 24 27

Tankers

VLCC 102 102

Suezmax 65 66

Aframax 55 55

Panamax 45 46

MR 34 36

Newbuilding Resale Prices

Bulk Carriers (2008 – Today) Tankers (2008 – Today)

Newbuildings

$0,00

$20,00

$40,00

$60,00

$80,00

$100,00

$120,00

$140,00

$160,00

$180,00

Ap

ril-

08

Au

gu

st-0

8

De

ce

mb

er-

Ap

ril-

09

Au

gu

st-0

9

De

ce

mb

er-

Ap

ril-

10

Au

gu

st-1

0

De

ce

mb

er-

Ap

ril-

11

CAPESIZE

PANAMAX

SUPRAMAX

HANDYSIZE

$0,00

$50,00

$100,00

$150,00

$200,00

$250,00

Ap

ril-

08

Au

gust

-08

Dec

emb

er-

Ap

ril-

09

Au

gust

-09

Dec

emb

er-

Ap

ril-

10

Au

gust

-10

Dec

emb

er-

Ap

ril-

11

VLCC

SUEZMAX

AFRAMAX

LR 1

MR

15

Demolition Sales

Vessel Type Built Dwt Ldt Buyer Country Price

Glory Beijing BC 1989 207.063 16.938 Bangladesh 525

(as is Spore with 400 T IFO and 100 T MDO ROB)

Bel Taylor Tanker 1990 84.040 16.830 India 575

(as is Spore with 900 T IFO)

Diana Star BC 1978 12.394 4.475 India 529

Parkway Tanker 1990 155.547 20.089 India 572

Win Star BC 1976 31.214 7.879 China 455

Samar Spirit Tanker 1992 98.640 16.823 Undisclosed Undisclosed

Scotia Spirit Tanker 1993 95.029 16/845 Undisclosed Undisclosed

Demolition Prices ($ / Ldt)

Bangladesh China India Pakistan

Dry - 450 525 500

Wet - 465 550 525

Demolition Prices

Bulk Carriers (2008 – Today) Tankers (2008 – Today)

Demolitions

0

100

200

300

400

500

600

700

800

April

08

Aug 0

8

Dec 0

8

April

09

Aug 0

9

Dec 0

9

Apr 1

0

Aug 1

0

Dec 1

0

April

11

$ /

Ld

t

Bangladesh

China

India

Pakistan

0

100

200

300

400

500

600

700

800

April

08

Aug 0

8

Dec 0

8

April

09

Aug 0

9

Dec 0

9

Apr 1

0

Aug 1

0

Dec 1

0

April

11

$ /

Ld

t

Bangladesh

China

India

Pakistan

16

Shipping Stocks

Commodities

Commodity Week 30 Week 29 Change (%) Brent Crude (BZ) 116 117 -0,85

Natural Gas (NG) 4,19 4,37 -4,12

Gold (GC) 1637 1619 1,11

Copper (LME) 4,37 4,38 -0,23

Wheat (W) 305 310 -1,61

Dry Bulk

Company Stock Exchange Week 30 Week 29 Change % Baltic Trading Ltd (BALT) NYSE 5,49 5,18 5,98

Crude Carriers Corp (CRU) NYSE 11,52 12,59 -8,50

Diana Shipping Inc (DSX) NASDAQ 9,80 9,93 -1,31

Dryships Inc (DRYS) NASDAQ 3,75 3,93 -4,58

Euroseas Ltd (ESEA) NASDAQ 4,08 4,40 -7,27

Excel Maritime Carriers (EXM) NYSE 2,58 2,73 -5,49

Eagle Bulk Shipping Inc (EGLE) NASDAQ 2,36 2,63 -10,27

Freeseas Inc (FREE) NASDAQ 1,65 1,82 -9,34

Genco Shipping (GNK) NYSE 6,26 6,54 -4,28

Navios Maritime (NM) NYSE 4,31 4,84 -10,95

Navios Maritime PTN (NMM) NYSE 16,10 16,75 -3,88

Paragon Shipping Inc (PRGN) NASDAQ 1,71 1,83 -6,56

Star Bulk Carriers Corp (SBLK) NASDAQ 1,56 1,65 -5,45

Seanergy Maritime Holdings Corp (SHIP) NASDAQ 5,13 5,50 -6,73

Safe Bulkers Inc (SB) NYSE 7,18 7,21 -0,42

Golden Ocean Oslo Bors (NOK) 5,08 5,32 -4,51

Tankers Capital Product Partners LP (CPLP) NASDAQ 7,83 8,63 -10,08

General Maritime (GMR) NYSE 1,09 1,20 -4,67

Omega Navigation Enterprises (ONAV) NASDAQ 0,27 0,27 -7,41

TOP Ships Inc (TOPS) NASDAQ 2,55 3,03 -1,35

Tsakos Energy Navigation (TNP) NYSE 8,90 9,55 0,19

Other Aegean Maritime Petrol (ANW) NYSE 5,39 5,53 -5,32

Danaos Corporation (DAC) NYSE 4,43 4,49 5,83

StealthGas Inc (GASS) NASDAQ 4,57 4,64 -5,35

Rio Tinto (RTP) NYSE 71,36 72,15 -7,25

Vale (VALE) NYSE 32,44 33,38 -7,13

ADM Archer Daniels Midland (ADM) NYSE 30,38 32,12 -8,24

BHP Billiton (BHP) NYSE 90,72 94,13 -5,67

Financial Market Data

17

Currencies

Week 30 Week 29 Change (%) EUR / USD 1,4395 1,4353 0,29

USD / JPY 76,73 78,52 -2,28

USD / KRW 1054 1051 0,29

USD / NOK 5,37 5,36 0,19

Bunker Prices

IFO 380 IFO 180 MGO Piraeus 666 699 993

Fujairah 694 722 1080

Singapore 674 685 970

Rotterdam 664 686 972

Houston 660 688 995

Port Congestion*

Port No of Vessels

China Rizhao 31

Lianyungang 27

Qingdao 37

Zhanjiang 12

Yantai 18

India

Chennai 5

Haldia 10

New Mangalore 5

Kakinada 15

Krishnapatnam 4

Mormugao 5

Kandla 16

Mundra 12

Paradip 18

Vizag 25

South America

River Plate 350

Paranagua 87

Praia Mole 17

* The information above exhibits the number of vessels, of various types and sizes, that are at berth, awaiting anchorage, at

anchorage, working, loading or expected to arrive in various ports of China, India and South America during week 30 of year

2011.

Financial Market Data / Bunker Prices / Port Congestion