NCSC - OCTOBER MONTHLY SALE and PURCHASE REPORT

www.cotzias.gr – visit our constantly updated website OCTOBER 2010

Ship sale volume: Oct‐10 Sep‐10

135 99 last month

91 73 last month

44 26 last month

Scrap volume:

74 87 last month

$503 per/ldt INDIA

Newbuilding Ships Prices 29/10/2010 (in mil USD)

Dry Cargo CAPE 30/9/2009 PMX 30/9/2009 HMAX 30/9/2009

NEWBUILDING $72.0 $64.3 $44.0 $40.0 $36.0 $33.4

Tanker Ships VLCC 30/9/2009 SUZ 30/9/2009 AFR 30/9/2009

NEWBUILDING $108.0 $102.0 $71.2 $69.0 $58.0 $49.0PAN 30/9/2009 PROD 30/9/2009

$45.5 $45.2 $36.5 $35.0Average Dry cargo T/C Earnings (worldwide routes):

Oct‐10 Sep‐10 Aug‐10 Jul‐10

$37,705 $35,929 $27,823 $16,750

$19,889 $24,800 $21,788 $16,630

$19,712 $26,103 $25,841 $20,960

$21,908 $24,781 $22,960 $19,600

$20,874 $22,325 $22,919 $19,964

$20,767 $19,995 $22,021 $17,241

$14,250 $16,833 $15,800 $16,000

$14,411 $16,063 $15,682 $13,641

Scrap Prices for OCTOBER 2010

CHINA HIGH $430 AVERAGE $394 OCTOBER 2010 AVERAGE $403 INDIA HIGH $503 AVERAGE $419 SEPTEMBER 2010 AVERAGE $458

BANGLADESH HIGH $0 AVERAGE $0 AUGUST 2010 AVERAGE $399 PAKISTAN HIGH $455 AVERAGE $398 JULY 2010 AVERAGE $393 TURKEY HIGH $305 AVERAGE $301 JUNE 2010 AVERAGE $373 345.07

BALTIC INDICES 29‐Oct‐10 30‐Sep‐10 31‐Aug‐10 31‐Jul‐10

2678 9.48% 2446 2713 19674262 26.47% 3370 3516 19222410 ‐2.11% 2462 2950 26321750 ‐5.25% 1847 2066 1760897 ‐13.67% 1039 1077 1010627 0.48% 624 679 796758 10.50% 686 715 796

COMMENTS:

We will mention here that the overcapacity issue in the tanker market which has been on the depressed side is seemingly acceptable, and can be tackled with. However we have:

VLCC 118 ships of 37 mil tons on order, Suezmax 132 ship 21 mil tons, Aframax 128 ships 14mil tons, Panamax LR's 61 5 mil tons, and 432 Products and MR's of 15mil tons carrying

capacity are scheduled until 2014. ULCC current fleet consists of 41 ships of 14.2mil tons, VLCC's 587 ships of 175 mil tons, Suezmax 477 ships of 73mil tons, Aframax 931 ships of 98

mil tons, and the LR's 418 ships of 30mil tons. Situation is still under controll but we never know how the orderbook might end up when softer NB prices will attract more orders

from new and existing owners. It only takes one strong name to create the trend and fashion and many to follow... like "lemmings" well... not sure there are lemmings that act as

shipowners so we may rephrase it to "follow the leader"!!!

Baltic Panamax Index

OCTOBER 2010

GENERAL SCRAP PRICE AVERAGE

Highest Scrap Price paid this month:

Baltic Clean Tanker Index

Capes >131,000 dwt:

Baltic Dry Index

% change since LAST MONTH

S&P MONTHLY REPORT

Baltic Dirty Tanker Index

Wet cargo Ships sold this month:

Ships scrapped this month:

Baltic Supramax Index

October proved to be a hot month for Sale and Purchase and many deals went through. In the Dry sector definitely the talk of the town was investing in Container ships as these

ships are still considered to be valued at decent levels and pose the opportunity for an asset play. As we expect the world economies to improve in 2011, and there will be a shift in

the overall consumer spending pattern back to better levels, more end products, more consumer goods that are mainly transported with container ships will generate extra demand

for more transportation and the container market is expected to grow too. Many new players are emerging and entering into this sector, and alarmingly new orders for more

newbuildings are being inked. Jus to to give you a picture we have 557 NB's waiting to be constructed until 2014, and only in 2010 we have seen 104 new orders, 65 of which were

placed Sep, Oct 2010... and this is alarming. In 2009 we had 33 ships inked, and we had not seen 43 orders in a given month for Container ships since Sep 2008.

Handies 39,000 – 30,000 dwt:

Small Bulkers 29,000 – 12,000 dwt:

Post Panamax 130,000 – 87,000 dwt:

Panamax 79,000 – 60,000 dwt:

Supramax 59,000 – 50,000 dwt:

Handymax 49,000 – 40,000 dwt:

Kamsarmax 86,000 – 80,000 dwt:

Executive Summary

Dry cargo Ships sold this month:

Total number of Ships sold this month:

Baltic Handymax Index

VLOC's a headache coming to hit our buggled minds….?? YES!! 35 400,000 VVLOC's (Very ‐Very Large!!!) iorn/ore carriers are scheduled to be delivered until 2012, of 14 mil tons dwt

carrying capacity are waiting round the corner to strike the market. 14 are scheduled for delivery in 2011 and 21 in 2012. Vale SA has ordered 27 of these and 4 are for Oman

Shipping and 4 for BW Fleet Managers. The total active fleet of VLOC's (any ship exceeding 200,000 dwt) are 83 ships of 24 mil tons and there are a total of 85 ships on order of 28mil

tons that will seriously alter the market when they are actually delivered. What will happen to the Capes? Will the demand for Capes drop to ZERO... will their rates collapse? These

answers will only be answered the hard way...

Baltic Cape Index

N. COTZIAS SHIPPING CO. LTD.7-9 AKTI MIAOULI - 185 35 PIRAEUS TEL:+30 210 4222660/5 FAX:+30 210 4222678/9

PAGE 1 of [email protected], [email protected]


2010

NAME TYPE YEAR BUILT DWT GEAR PRICEBUYERS

NAME

BUYERS

NATIONNOTES IMO

ATA BC 1985 HITACHI ZOSEN 194,226 $12.50m CHINESE BUYERS CHINA

SELLERS ARE SELKAR

GEMICILIK AS, TURKEY.

OTHER REPS SAY BUYERS

ARE INDUSTRIAL

CARRIERS UKRAINE @

12.2m

8406377

CALADIUM BC 2006 NAMURA IMARI 176,924 $55.00mFUJIAN WANGHAI

(GUANHAI)

SHIPPING

CHINA

SELLERS ARE KOREA LINE

CORP, KOREA. OTHER

REPS SAY $58 AND $59m9335240

SAG BULK GERMANY BC 2010 JINHAI HEAVY IND 175,918 $84.90m SALAMON AG GERMANY

INCL A T/C ATTACHED TO

GOLDEN OCEAN AT

$34300/DAY FOR 3

YEARS. OTHER REPS SAY

FOR 5 YEARS

9497359

CAPE OCEAN BC 1994MITSUBISHI

NAGASAKI 170,631 $25.00m GREEK BUYERS GREECE

SELLERS ARE FUYO

KAIUN CO LTD, JAPAN.

INCL A T/C ATTACHED

FOR 4 YEARS TO RIO

TINTO AT UNDISCLOSED

PRICE LEVELS

9081033

KWK GENESIS BC 1996 HALLA ENG & HI 168,431 $28.00m GREEK BUYERS GREECE

SELLERS ARE TAI CHONG

CHEANG STEAMSHIP CO

SINGAPORE. OTHERS

REPORT HER SOLD

REGION $26‐27m

9116395

PEACE VOYAGE BC 2010JIANGSU NEW

YANGZIJIANG93,000 $42.00m MERCATOR INDIA

TO BE DELIVERED FROM

YARD NOV 2010 ‐

SELLERS ARE ANGLO‐

EASTERN SHIP

MANAGEMENT CHINA

9574420

KAMSAR GOLD BC 2006 TSUNEISHI CORP 82,981 $41.50m OCEAN MARITIME GREECE

SELLERS ARE ROSY STAR

OCEAN VESSEL

MANAGEMENT

PHILIPPINES

9310630

TSUNEISHI ZHOUSHAN

SS‐100BC 2012 TSUNEISHI ZOSEN 82,191 $41.00m

VITA

MANAGEMENTGREECE SELLERS ARE JAPANESE 9583160

RUBY STREAM BC 2005 SASEBO SASEBO 76,728 $39.00m ODYSEA CARRIERS GREECESELLERS ARE FUKUJIN

KISEN KK9304265

MEDI ROTTERDAM BC 2002 SANOYAS HISHINO 75,735 $32.50m SINOCHEM CHINA

SELLERS ARE ALFA SHIP

MANAGERS SINGAPORE.

DELIVERY JULY 2011.

OTHER REPS SAY $32m

9254719

FORTUNE COSMOS BC 2010 SASEBO SASEBO 74,997 $46.00m 9542477

FORTUNE DAISY BC 2011 JAPAN 74,497 $46.00m 9542491

GREAT CENTURY BC 2000 SUMITOMO H I 73,747 $32.00m CHINESE BUYERS CHINA

SELLERS ARE SINOTRANS

SHIP MANAGEMENT

CHINA. OTHER REPS SAY

$31.5m

9206205

KONMAX BC 2000IMABARI

MARUGAME72,270 $31.50m CHINESE BUYERS CHINA

SELLERS ARE

KONLINKSHIPPING PTE

SINGAPORE

9223485

PELAGIA BC 1995 HITACHI ZOSEN 71,741 $24.50mCLIENTS OF FIVE

STAR INDIAINDIA

SELLERS ARE NOMIKOS

E. CORP GREECE9104108

VANESSA

OLDENDORFFBC 1994 IMABARI 69,087 $20.75m MERCATOR INDIA

SELLERS ARE

OLDENDORFF CARRIERS

GMBH, GERMANY.

INCLUDING A BB @

12000/DAY FOR 3+1

YEARS ‐ REPORTED ALSO

SOLD FOR $20.5MIL

9087738

AUGUSTA BC 1996IMABARI

MARUGAME69,053 $22.00m CHINESE BUYERS CHINA

SELLERS ARE CARDIFF

MARINE INC, GREECE.

OTHER REPS SAY $25m

9134189

CMA CGM DOLPHIN CONT 2007 HYUNDAI SAMHO 65,890 5041 TEU $52.50m 9318125

CMA CGM ORCA CONT 2006 HYUNDAI SAMHO 65,890 5041 TEU $52.50m 9318113

SWIFT FORCE BC 1982MITSUBISHI

NAGASAKI 65,862 $6.30m

UNDISCLOSED

BUYERS‐

SELLERS ARE GRACE LINE

USA8025135

NATALIE BC 1981 MITSUBISHI KOBE 64,911 $6.25mCOMPASS

SHIPPINGCHINA

SELLERS ARE PARADISE

NAVIGATION S.A.

GREECE

7918268

SOLD ENBLOC CMA CGM

DOLPHIN AND CMA CGM

ORCA TO TECHNOMAR

GREECE FOR $52.5m

EACH UNIT. SELLERS ARE

CMA CGM (THE FRENCH

LINE) FRANCE

OCTOBERDRY CARGO SHIPS SOLD DURING THIS MONTH

GREAT HARVEST

MAETACHINA

SOLD ENBLOC FORTUNE

COSMOS (SASEBO 793)

AND FORTUNE DAISY TO

CHINESE BUYERS FOR

EXCESS $90m FOR BOTH

UNITS. SELLERS ARE

CIDO SHIPPING (HK) LTD,

CHINA ‐ POSSIBLY

FORTUNE DAISY HAS

NOT BEEN SOLD IN THE

ENBLOC DEAL THAT MAY

HAVE FAILED

TECHNOMAR

SHIPPINGGREECE




EAST SUNRISE 28 BC 1984 HITACHI ZOSEN 61,749 $9.30m GREEK BUYERS GREECE

SELLERS ARE EAST

SUNRISE SHIP

MANAGEMENT CHINA ‐

OTHER REP SAYS $9.8MIL

8221442

SWAN CONT 1995 KOYO MIHARA 61,489 4708 TEU $29.00mTECHNOMAR

SHIPPINGGREECE

SELLERS ARE SEA

TRADERS S.A. GREECE

(GEORGE ECONOMOU)

SHIPS WAS ACQUIRED IN

JUNE 2009 FOR ONLY

$9.65MIL

9122605

TSUNEISHI ZHOUSHAN

RESALEBC 2010

TSUNEISHI

ZHOUSHAN58,470 4X30T $37.00m

UNDISCLOSED

BUYERS‐

THOMAS SELMER BC 2011 TAIZHOU SANFU 57,000 4X30T $32.50mUNDISCLOSED

BUYERS‐

SELLERS ARE OSKAR

WEHR KG, GERMANY. 9434747

DELFA BC 2005YANGZHOU

DAYANNG53,594 4X35T $29.00m GREEK BUYERS GREECE

SELLERS ARE MEDWAY

SHIPPING GREECE ‐

REPORTED SOLD IN NOV

2007 FOR $70MIL

9330094

MATUMBA BC 2005YANGZHOU

DAYANNG53,591 4X35T $29.00m

CLIENTS OF

MEDWAYGREECE

SELLERS ARE AL JABER

SHIPPING AGENCY UAE9330082

KING HALO BC 2005 IMABARI IMABARI 53,350 4X30.5T $31.80m ARCADIA INDIA

SELLERS ARE MISUGA

KAIUN CO LTD, JAPAN.

OTHER REPS SAY $32.8m,

OTHER $31.45MIL

9339765

DESERT HAWK BC 1999 MITSUI TAMANO 50,327P&C TERMS

UNDISCLOSED

BUYERS

SELLERS ARE SYNERGY

MARITIME PVT LTD,

INDIA

9181039

C.S.FORTUNE BC 2002 MINAMI NIPPON 47,305 4X30T $28.50m GREEK BUYERS GREECE

SELLERS ARE CHUGOKU

SOUGYO CO LTD, JAPAN.

SOLD REGION $28‐29m9258337

SOVI R BC 1998 TSUNEISHI 45,621 $25.30m GREEK BUYERS GREECE

SELLERS ARE J.G.

ROUSSOS SHIPPING

GREECE

9163491

HAONING GLORY BC 1994 KANASASHI ‐ TOYO 45,208 4X25T $21.70mUNDISCLOSED

BUYERS

SELLERS ARE COSCO

WALLEM SHIP

MANAGEMENT, CHINA.

TENDER SALE

9086966

PHUC HAI SUN BC 1983 MITSUI TAMANO 44,960 4X25T $5.80mUNDISCLOSED

BUYERS

SELLERS ARE PHUC HAI

CO LTD, VIETNAM. AS IS

WEST AFRICA

8025161

SUNNY SUCCESS BC 1991OSHIMA

SHIPBUILDING42,203 4X25T $16.50m GREEK BUYERS GREECE

SELLERS ARE MITSUI

KINKAI KISEN CO LTD,

JAPAN

8915732

ASSIMINA BC 1984 OSHIMA ZOSEN 41,096 4X25T $9.00mINDONESIAN

BUYERSINDONESIA

SELLERS ARE PRIMAL

SHIPMANAGEMENT

GREECE

8307765

ALBATROSS BC 1981 MITSUI TAMANO 40,507 5X25T $5.25mUNDISCLOSED

BUYERS‐

SELLERS ARE KRISTEN

MARINE SA GREECE8005111

GOLDMAR BC 1984IMABARI

MARUGAME39,697 4X25T $7.25m

UNDISCLOSED

BUYERS‐

SELLERS ARE MARYVILLE

MARITIME, GREECE.

DELIVERY EARLY 2011.

OTHER REPS SAY $7.75m.

TWO YEARS AGO, IN OCT

2008 SHE HAD BEEN

REPORTED SOLD AT

$15.9m

8402955

IONIAN WIND BC 1984OSHIMA

SHIPBUILDING38,902 4X25T, 650 TEU $8.70m

UNDISCLOSED

BUYERS‐

SELLERS ARE ATLANTIC

BULK CARRIERS GREECE. 8130758

GENERAL GROT‐

ROWECKIBC 1985 GEORGI DIMITROV 38,498 $3.60m

DUBAI BASED

BUYERSUAE

SELLERSW ARE POLSKA

ZEGLUGA MORSKA

POLAND

8417754

PAMAKARISTOS BC 1986 IHI ‐ AIOI 38,393 4X25T $10.50mUNDISCLOSED

BUYERS‐

SELLERS ARE ANBROS

MARITIME S.A. GREECE.

SOLD WITH T/C 4‐6

MONTH AT $15500/DAY.

OTHER REPS SAY $12.6m

8323214

LUCKY B BC 1983IMABARI

MARUGAME37,994 4X25T $6.78m CHINESE BUYERS CHINA

SELLERS ARE BARU KAHA

INC GREECE8223347

POLYHRONIS BC 1980 BALTIYSKIY 37,648 5X20T $5.80mUNDISCLOSED

BUYERS‐

SELLERS ARE DALEX

SHIPPING GREECE8026828

NIRMAL SANGEETHA BC 1982 HUDONG SHIPYARD 37,599 5X25T $4.70mDIA YUAN

INTERNATIONAL

SHIPPING

CHINA

SELLERS ARE

WILHELMSEN SHIP

MANAGEMENT

GREMANY

8105272

CMA CGM TELOPEA CONT 2007 POLAND 37,1251x50T, 2X45T, 2785

TEU$37.50m EUROMAR GREECE

SALE INCLUDES A T/C

UNTIL MARCH/APRIL

2011 ‐ ACQUIRED BY

ZEPPENFELD IN OCT

2009 FOR EITHER

$24.5MIL OR $25.4MIL ‐

(EUROMAR IS ARISTIDES

PITTAS LEAD JV)

9301988

ARISTON BC 1984 KOYO MIHARA 37,052 4X25T $7.50m GREEK BUYERS GREECE

SELLERS ARE PYRSOS

SHIPPING CO LTD,

GREECE.

8300509

SUPER STAR BC 2009 SHINAN HEAVY 34,250 4X30T $32.50mKOREAN

INVESTMENT FUNDKOREA

SELLERS ARE STELLAR

SHIPPING LLC UAE9516698

RUBY STAR BC 2010 SHIN AN 34,000 4X30T $33.00m KOREAN BUYERS KOREA 9516703

ORBIT BC 1981 MINAMI NIPPON 32,961 5X25T $4.50mBANGLADESH

BUYERSBANGLADESH

SELLERS ARE ROYCE

INTERNATIONAL

TRADING UAE

7932599

NEW SAILING STAR BC 2010ZHEJIANG

ZHENXING32,000 4X25T $24.60m EUROPEAN BUYERS EUROPE 346777




CIELO DI VAIANO BC 1998 SAIKI JUKOGYO 31,962 4X30T $20.75mUNDISCLOSED

BUYERS‐

SELLERS ARE D'AMICO

ITALY ‐ OTHER REP

$21MIL

9167863

PANTANASSA BC 1983HAKODATE

MUROKAME31,774 4X25T $5.80m CHINESE BUYERS CHINA

SELLERS ARE

VAMVASHIP MARITIME

GREECE

8216758

BASIC RELIANCE BC 2002 SHIKOKU SHIPYARD 29,887 4X30T $23.00mUNDISCLOSED

BUYERS‐

VESSEL WAS REPORTED

SOLD TO PRESENT

OWNERS IN DEC 2009

FOR $19.7m. SELLERS

ARE DOUN KISEN KK

JAPAN. SOLD BASIS

DELIVERY CHARTER FREE

IN APRIL 2011. OTHER

REPS SAY $22.5m

9254745

FRIENDSHIP BC 1984IMABARI

MARUGAME29,135 4X25T $6.25m GREEK BUYERS GREECE

SELLERS ARE EOLOS

SHIPMANAGEMENT

GREECE

8323123

PLATYTERA BC 1987 OSHIMA ZOSEN 28,358 4X25T $9.50m TURKISH BUYERS TURKEY

SELLERS ARE ANBROS

MARITIME S.A., GREECE.

SS/DD DUE APRIL 2009.

OTHER REPS SAY $9.4m

8508723

AVALON MPP 1995NAIKAI ZOSEN ‐

SETODA27,917 4X30T $14.50m

UNDISCLOSED

BUYERS

SELLERS ARE NITTA

KISEN KAISHA LTD,

JAPAN. SHE HAD BEEN

REPORTED SOLD IN JULY

2010 AT $15m TO GREEK

BUYERS.

9116319

CLIPPER MERMAID BC 2001 JINGJIANG NANYA 27,105 4X30T $19.00mUNDISCLOSED

BUYERS

SELLERS ARE

DOCKENDALE SHIPPING

BAHAMAS

9223825

THOR CONFIDENCE BC 1983HDW‐GAARDEN

GMBH 25,150 5X25T $4.00m EMIRATES BUYERS UAE

SELLERS ARE THORESEN

& CO (BANGKOK)

THAILAND

8208036

SEVEN SEAS BC 1996 HAKODATE DOCK 24,290 4X30.5T $14.00mUNDISCLOSED

BUYERS‐

SELLERS ARE TOYO

KAIUN KK JAPAN9114490

SUPERTRAMP BC 1996 IMABARI IMABARI 24,228 3X30T $15.00mUNDISCLOSED

BUYERS‐

SELLERS ARE KORKYRA

SHIPPING LTD, CROATIA9136565

ABEER S BC 1984 MINAMI NIPPON 23,907 3X25T $5.50m TURKISH BUYERS TURKEYSELLERS ARE SAMIN

SHIPPING SYRIA8309139

WILLIAM BC 1995NAIKAI ZOSEN

CORP23,829 4X30T $14.30m LEBANESE BUYERS LEBANON

SELLERS ARE AUGUST

BOLTEN GERMANY.

OTHER REPS SAY $14m.

VESSEL WAS REPORTED

SOLD IN AUG 10 TO

TURKISH BUYERS FOR

$14m

9117375

HANSA MARBURG CONT 2007GUANGZHOU

WENCHON23,419 2X40T, 1740 TEU $25.00m

OCEAN PARTNERS

SHIPPINGGERMANY

SELLERS ARE

LEONHARDT &

BLUMBERG GERMANY

9334818

KASTOR P BC 1983MITSUBISHI

SHIMONOSHEKI22,713 3X25T $4.00m

UNDISCLOSED

BUYERS‐

SOLD AT HIGH $4m TO

UNDISCLOSED BUYERS.

OTHER REPS SAY $5m.

SELLERS ARE COMMON

PROGRESS GREECE

8122610

ZENOBIA BC 1984 WATANABE ZOSEN 21,339 3X25T, D1X25T $5.00mEASTERN

MEDITERRANEAN

BUYERS

EAST MEDSELLERS ARE SAMIN

SHIPPING SYRIA8214906

MAERSK TANGIER CONT 1990TSUNEISHI

SHIPBUILDING21,238

1X40T, 1316 TEU

14249 BHP$6.00m 8905543

MAERSK TRAPANI CONT 1990TSUNEISHI

SHIPBUILDING21,238

1X40T, 1316 TEU

14249 BHP$6.00m 8820224

MAERSK TARRAGONA CONT 1990TSUNEISHI

SHIPBUILDING21,229

1X40T, 1316 TEU

14249 BHP$6.00m 8820212

MAERSK TORINO CONT 1990TSUNEISHI

SHIPBUILDING21,229

1X40T, 1316 TEU

14249 BHP$6.00m 8820200

PRINSENBORG MPP 2003 MAWEI 16,740 3X35T $15.50m GREEK BUYERS GREECE

SELLERS ARE

WAGENBORG SHIPPING

BV NETHERLANDS9213090

CAPE HOBART MPP 1993KVAERNER

WARNOW17,546

2X80T, 1X40T, 894

TEU 8918124

CAPE HASTINGS MPP 1994KVAERNER

WARNOW17,493

2X80T, 1X40T, 894

TEU 9015694

CAPE HOWE MPP 1992NEPTUN

SCHIFFSWERFT 17,493 3X40T, 902 TEU 8918071

CAPE HUDSON MPP 1992NEPTUN

SCHIFFSWERFT 17,493 3X40T, 902 TEU 8918083

SINAR BANGKA CONT 2000 HAKATA ZOSEN 15,236 1060 TEU P&C DEAL ISEACO PTE LTD SINGAPORESELLERS ARE MEIHO

KAIUN KK, JAPAN9220304

SINAR BONTANG CONT 2002 HAKATA HAKATA 14,940 3X40T, 1050 TEU $14.00m ULTRAPETROL BAHAMASSELLERS ARE MEIHO

KAIUN KK, JAPAN9262871

CAPELLA CONT 2007 JIANGSU JINLING 13,7601098 TEU, ICE

CLASS II, STR HVY

CGO$17.10m GERMAN BUYERS GERMANY

SELLERS ARE. VESSEL

WAS REPORTED SOLD IN

APRIL 2010 AT $15.5m

TO GERMAN BUYERS

9374129

STADT CELLE CONT 2005 JIANGSU JINLING 13,710 802 TEU $15.00m LOMAR CORP GREECE

SELLERS ARE THIEN &

HEYENGA

BEREEDERUNGS GMBH,

GERMANY

9316098

PARK RIVER MPP 1986 MIHO SHIMIZU 9,656 2X50T, 474 TEU $4.85m 8520214

PADUS RIVER MPP 1986 MIHO SHIMIZU 9,643 2X50T, 487 TEU $4.85m 8517841

SUNNY HEART MPP 2000IWAGI ZOSEN CO

LTD 9,360

1X60T, 2X30.5T,

D1X30T$9.00m

TAIWANESE

BUYERSTAIWAN

SELLERS ARE BLUE

MARINE MANAGEMENT

PHILIPPINES9237254

UNDISCLOSED

BUYERS‐

SOLD ENBLOC TO

UNDISCLOSED BUYERS

FOR $4.85m EACH UNIT.

SELLERS ARE ITALIAN

SHIPPING CO (ISC) ITALY

$40.00mPACIFIC

INTERNATIONAL

LINES

SINGAPORE

SOLD ENBLOC CAPE

HOBART, CAPE

HASTINGS, CAPE HOWE

AND CAPE HUDSON TO

SINGAPOREAN BUYERS

FOR $40m FOR ALL 4

UNITS. SELLERS ARE

COLUMBIA

TECHNOMAR

SHIPPINGGREECE

SOLD ENBLOC TO

TECHNOMAR GREECE

FOR $6m EACH UNIT.

SELLERS ARE BIBBY SHIP

MANAGEMENT , UK




GREEN SPRING REEFER 1989 SHIN KURUSHIMA 6,522 D8X5T $3.20m ESTONIAN BUYERS ESTONIASELLERS ARE NORBULK

SHIPPING UK8800236

GREEN SUMMER REEFER 1988 SHIN KURUSHIMA 6,489 D8X5T $3.20mSHANGDONG

ZHONGLUCHINA

SELLERS ARE NORBULK

SHIPPING UK8800224

WEST EXPRESS RORO 1978 NYLANDS 4,250 1272LM $1.40m TURKISH BUYERS TURKEY

SELLERS ARE EXPRESS

SHIPPING AS, DENMARK.

SOLD FOR CONVERSION7724253

MARIA MPP 1992 SEDEF GEMI END. 4,168 2X25T, 221 TEU $2.10m GREEK BUYERS GREECE

SELLERS ARE SEA PATH

MARITIME CORP,

GREECE8901016

MONTE CINTO RORO 1984 ACH 3,956 $2.80m BAHA FERRIES BAHAMAS

SELLERS ARE SOCIETE

NACIONALE MARITIME

CORSE MEDITERRANEE

(SNCM) FRANCE

8120686

STX VUNG TAU OTHER 2011 VIETNAM 3,172 $65.00mVIETNAMESE

BUYERSVIETNAM AHTS

STELLA MOON MPP 2009ANANDA SHIPYARD

& SLIP 2,950 1X14.5T, 112 TEU $2.40m TURKISH BUYERS TURKEY

SELLERS ARE HANSEATIC

SCHIFFAHRTS GMBH,

GERMANY. SOLD AT

AUCTION

9390393

TRICO STAR OTHER 2010 TEBMA SHIPYARD 2,900 6312 BHP 9413195

TRICO SABRE OTHER 2009 TEBMA SHIPYARD 2,900 6312 BHP 9413183

TRICO MYSTIC OTHER 2008BENDER

SHIPBUILDING2,348 6199 BHP 9410856

TRICO MOON OTHER 2008BENDER

SHIPBUILDING2,346 5903 BHP 9410868

Note1: With Red color are indicated all Greek interest Buyers or Sellers

COUNTRY BUILT BC

JAPAN 290

CHINA 122

KOREA 64

BRAZIL 8

DENMARK 5

POLAND 4

SPAIN 3

ITALY 3

NORWAY 3

GERMANY 3

UK 2

UKRAINE 2

YUGOSLAVIA 2

BULGARIA 2

RUSSIA 2

ROMANIA 1

PHILIPPINES 1

SINGAPORE 1

CROATIA 1

INDIA 1

Grand Total 462

COUNTRY BUILT CONT

GERMANY 41

JAPAN 27

KOREA 27

CHINA 25

POLAND 12

PHILIPPINES 4

DENMARK 3

ROMANIA 3

TURKEY 3

NETHERLANDS 2

CROATIA 1

ARGENTINA 1

Grand Total 134

USA

SOLD ENBLOC FOR ABT

$76m FOR ALL 4 UNITS.

SURVEY ROV SUPPORT

VESSEL TYPE VS470. THE

TWO OSVs WERE SOLD

FOR AN ENBLOC PRICE

OF $50m. SELLERS ARE

TRICO MARINE

OPERATORS INC, USA

$76.00 US BASED BUYERS

BC - SOLD IN 2010 (BY COUNTRY OF BUILD)290

122

64

8 5 4 3 3 30

50

100

150

200

250

300

350

JAPAN CHINA KOREA BRAZIL DENMARK POLAND SPAIN ITALY NORWAY

BC

CONTAINER SHIPS - SOLD IN 2010 (BY COUNTRY OF BUILD)41

27 2725

12

4 3 3 3

0

5

10

15

20

25

30

35

40

45

GERMANY JAPAN KOREA CHINA POLAND PHILIPPINES DENMARK ROMANIA TURKEY

BC




DRY CARGO 2ND HAND MARKET STATISTICS

country units %

2010 UNITS OUTLAY$ DWT GREECE 145 17.47%

JANUARY 84 $1,297.44m 3,952,288 GERMANY 99 11.93%

FEBRUARY 82 $1,383.07m 3,896,685 CHINA 87 10.48%

MARCH 161 $3,532.12m 7,367,241 JAPAN 84 10.12%

APRIL 71 $1,087.61m 3,404,042 FRANCE 40 4.82%

MAY 72 $1,104.90m 3,048,860 SINGAPORE 37 4.46%

JUNE 79 $1,957.37m 4,042,023 USA 27 3.25%

JULY 56 $1,248.85m 2,270,439 KOREA 25 3.01%

AUGUST 61 $995.55m 2,096,807 ITALY 24 2.89%

SEPTEMBER 73 $1,181.40m 2,981,538 TURKEY 24 2.89%

OCTOBER 91 $1,724.28m 3,992,317 DENMARK 22 2.65%

NOVEMBER 0 $0.00m 0 UK 22 2.65%

DECEMBER 0 $0.00m 0 NORWAY 21 2.53%

TOTAL 830 $15,512.59m 37,052,240 THAILAND 14 1.69%

VIETNAM 11 1.33%

CYPRUS 11 1.33%

COUNTRY UNITS % OUTLAY ($) % DWT % RUSSIA 9 1.08%

GREECE 211 25.42% $5,205 33.56% 11,153,094 30.10% PHILIPPINES 9 1.08%

CHINA 160 19.28% $2,440 15.73% 10,740,917 28.99% ALL OTHER 100 12.05%

TURKEY 37 4.46% $246 1.59% 641,577 1.73% UNDISCL 19 2.29%

USA 33 3.98% $1,513 9.75% 693,522 1.87% TOTAL 830 100.00%

GERMANY 31 3.73% $505 3.26% 1,171,638 3.16%

NORWAY 28 3.37% $753 4.86% 1,203,540 3.25%

INDIA 20 2.41% $484 3.12% 1,187,823 3.21%

KOREA 16 1.93% $316 2.04% 633,181 1.71%

INDONESIA 16 1.93% $166 1.07% 487,429 1.32%

SINGAPORE 14 1.69% $247 1.59% 718,392 1.94%

VIETNAM 14 1.69% $212 1.37% 308,956 0.83%

RUSSIA 13 1.57% $164 1.06% 308,722 0.83%

SYRIA 12 1.45% $38 0.25% 226,214 0.61%

ISRAEL 9 1.08% $123 0.79% 425,533 1.15%

UNDISCL 109 13.13% $1,497 9.65% 3,888,938 10.50%

ALLOTHER 107 12.89% $1,726 11.12% 3,688,297 9.95%

TOTAL 830 100.00% $15,513 100.00% 37,052,240 100.00%

2010 BC SD CONT MPP TWEEN REEFER PASS RORO OTHER TOTAL

JANUARY 59 0 15 3 0 0 0 5 2 84

FEBRUARY 59 0 3 9 0 0 0 4 7 82

MARCH 89 0 35 14 0 0 0 4 19 161

APRIL 47 0 12 6 1 0 0 5 0 71

MAY 43 0 19 8 0 0 0 1 1 72

JUNE 60 0 15 3 0 0 0 1 0 79

JULY 28 0 14 6 0 0 0 4 4 56

AUGUST 35 0 7 5 0 0 0 3 11 61

SEPTEMBER 42 0 16 8 0 0 0 3 4 73

OCTOBER 58 0 13 11 0 0 0 2 7 91

NOVEMBER 0 0 0 0 0 0 0 0 0 0

DECEMBER 0 0 0 0 0 0 0 0 0 0

TOTAL 520 0 149 73 1 0 0 32 55 830

SELLERS ‐ Greek sellers are still increasing their lead in the sale

stats table. Greeks are 1st with 145 units (124 last) while

German sellers are 2nd with 99 units (90 last), Chinese sellers

3rd with 87 units (81 last) and Japanese sellers 4th with 83 units

(72 last). French sellers mainly due to Bourbon's selling spree of

3 month's ago, are in 5th place with 40 units (37 last).

During this month there was a continuation of the increased

momentum in the Sale and Purchase market with Greeks once

more making some good investment moves acquiring 22 more

units. Out of these 11 were BC's and 9 container ships with

mainly Technomar being the leading Greek shipping company

that made 7 out of these container acquisitions and Euromar

and Lomar the other 2 Container buyers. It seems that once

more greater focus is put on possible asset play that the

Container ship prices may provide.

SELLERS STATS 2010

MONTHLY UNIT SALE ACTIVITY

2010 DRY CARGO STATISTICS ‐ BUYERS

A hot month that generated a great deal of momentum in the

Sale and Purchase market. 91 deals were performed and that

number is the 2nd best in terms of ships sold for 2010. Once

again the interest was mixed between BC's and Container ships

with some interesting enbloc deals. 28 Handies, 7 Handymaxes,

6 Supramax ships and 21 Panamaxes sold this month. Interest

has been shifted to the smaller sized vessels that have a lesser

alarming orderbook and also a much more versatile market less

dependent on China's appetites.

DRY CARGO UNITS SOLD ‐ BREAKDOWN PER MONTH 2010

BUYERS ‐ During Oct we saw the S&P market heating up

particularly during week43, with Greek buyers being the most

active and they increased further the lead over their Chinese

counterparts!!! As of today Greeks have acquired 22 more units

this month and have a total of 209 units (187 last) and are

topping the table. In Oct 2010, China acquired only 14 more

units and have purchased 160 units in total (146 last) and are left

2nd for more than 5 months now. Turkish buyers are 3rd with 37

units (33 last) with USA based buyers 4th with 33 bought (29

last). In 5th place are German buyers having acquired 31 units

(28 last) while Norwegian buyers 6th with 28 units. Indian

buyers have added 1.12million tonnes of Carrying capacity with

their 19 purchases.




CHANGE

FROM 29/9/2009

NB CAPESIZE $96.5 $64.3 $65.0 1%NB PANAMAX $54.5 $40.0 $44.0 10%NB HANDYMAX $45.5 $33.4 $35.0 5%NB HANDYSIZE $50.0 $27.0 $29.0 7%

CHANGE

FROM 29/9/2009

5y CAPESIZE $125.0 $50.5 $56.0 11%5y PANAMAX $81.0 $34.0 $39.0 15%5y HANDYMAX $62.0 $28.0 $30.5 9%5y HANDYSIZE $42.0 $22.0 $26.0 18%

CHANGE

FROM 29/9/2009

10y CAPESIZE $98.0 $42.0 $42.7 2%10y PANAMAX $66.0 $27.0 $32.0 19%10y HANDYMAX $56.0 $20.2 $25.0 24%10y HANDYSIZE $34.0 $16.0 $19.0 19%

CHANGE

FROM 29/9/2009

10y CAPESIZE $75.0 $26.0 $25.0 ‐4%10y PANAMAX $45.0 $22.0 $22.0 0%10y HANDYMAX $35.0 $18.0 $19.1 6%10y HANDYSIZE $29.0 $11.0 $15.0 36%

CHANGE

FROM 29/9/2009

20y CAPESIZE $71.0 $19.3 $19.0 ‐2%20y PANAMAX $37.0 $11.1 $17.0 53%20y HANDYMAX $27.0 $9.7 $13.0 34%20y HANDYSIZE $20.0 $8.8 $9.9 13%

29/10/2010

1990 built (20Y) OLD BULKERS PRICE COMPARISON

29/09/2009


NB BULKERS PRICE COMPARISON

29/10/2010

29/09/2008


29/09/2009

Tables above compare prices from OCTOBER 2008, OCTOBER 2009, with today

29/09/2009

TYPE 29/09/2008

29/10/2010

In the table on the top we see monthly number of dry cargo ships sold as of OCTOBER 2010,

compared to 2009's monthly activity.

In the table on the top we see the MONTHLY dry cargo capital expenditure for OCTOBER 2010 compared

to 2009's monthly activity.

29/10/2010

TYPE 29/09/2009

29/09/200929/09/2008TYPE

TYPE

29/09/2008

29/10/2010


TYPE 29/09/2008

Dry cargo units sold 2010 vs 2009

5972

100

75

109 108

71

104 100

80

161

61

93

5256

9184

8271

7279 73

30

50

70

90

110

130

150

170

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

units 2009 2010 Dry cargo - Capital expend. 2010 vs 2009

$970

$1,656 $1,724

$681$1,018

$913$739

$1,350$1,123

$710

$1,528

$1,083$1,189

$1,181

$1,105

$3,532

$1,249

$996$1,088

$1,297$1,383 $1,957

$150m

$650m

$1,150m

$1,650m

$2,150m

$2,650m

$3,150m

$3,650m

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

2009 2010

DRY CARGO (2000 - 2010) NB VSL PRICES

$16

$31

$46

$61

$76

$91

Apr-00

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K

DRY CARGO (2000 - 2010) 5Y OLD VSL PRICES

$10$25$40$55$70$85

$100$115$130$145$160

Apr-00

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


$5$20$35$50$65$80$95

$110$125

Apr-00

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


$5$15$25$35$45$55$65$75$85$95

$105

Apr-00

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


$0$10$20$30$40$50$60$70$80$90

Apr-00

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K




2010

NAME TYPE YEAR BUILT DWT PRICE PRICE NOTEBUYERS

NAME

BUYERS

NATIONNOTES IMO

ARDENNE VENTURE TANKER 2004 HYUNDAI HI 318,000 $89.00mUNDISCLOSED

BUYERS

SELLERS ARE TANKERS

(UK) AGENCIES LTD, UK9290347

GENMAR VICTORY TANKER 2001 HYUNDAI HI 312,679 9205093

GENMAR VISION TANKER 2001 HYUNDAI HI 312,679 9205081

BW SORO TANKER 1993DAEWOO

SHIPBUILDING302,377 $37.00m

WIRANA SHIPPING

PRIVATE LTDINDIA

SELLERS ARE BW

MARITIME PTE LTD,

SINGAPORE9039638

GEMINI STAR TANKER 1995 ODENSE LINDO 301,862 $22.00mUNDISCLOSED

BUYERS‐

SELLERS ARE VELA

INTERNATIONAL

MARINE LTD, UAE9050577

HAMAL STAR TANKER 1994 HYUNDAI HI 301,550 $20.00m SH POLARIS SHIPPING KOREA

SELLERS ARE SINOKOR

MERCHANT MARINE CO

LTD KOREA. IN DEC 09

SHE HAD BEEN

REPORTED SOLD TO

KOREAN BUYERS FOR

CONVERSION

9060326

HYUNDAI STAR TANKER 1995 HYUNDAI HI 281,199 $20.00m NON DH POLARIS SHIPPING KOREASELLERS ARE HYUNDAI

MERCHANT MARINE

KOREA9083093

PACIFIC SUPERIOR TANKER 1994 KAWASAKI 269,605 $16.50mFAR EASTERN

BUYERSFAR EAST

SELLERS ARE HYUNDAI

MERCHANT MARINE

KOREA9058634

LANIA TANKER 1990MITSUBISHI

NAGASAKI248,050 $14.00m

FAR EASTERN

BUYERSFAR EAST

OTHER REPS SAY SHE

WENT FOR DEMO FOR

$13.8m8808642

PRISCO ALCOR TANKER 2007 HYUNDAI HI 166,000 $67.00mPRISCO ALCOR OR

PRISCO MIZARGREEK BUYERS GREECE

SELLERS ARE PRISCO

(SINGAPORE) PTE LTD,

SINGAPORE9320726

PROMISE TANKER 19913 MAJ

BRODOGRADILISTE111,587 $9.00m

UNDISCLOSED

BUYERS‐

SELLERS ARE

TRANSPETROL

MARITIME SERV. LTD,

BELGIUM

8805688

DREPANOS TANKER 2010 TSUNEISHI 107,500 $60.00m BRIGHT OIL CHINASELLERS ARE POLYAR

TANKERS AS NORWAY9420643

GENMAR ALEXANDRA TANKER 1992 SHIN KURUSHIMA 102,262 $11.50m DHUNDISCLOSED

BUYERS‐

SELLERS ARE GENERAL

MARITIME GREECE9007568

MORNING GLORY III TANKER 1996 ONOMICHI 98,743 $14.00m DYNACOM GREECESELLERS ARE NAKATA

MAC CORP JAPAN9110183

PINK SANDS TANKER 1993 NAMURA 96,120 $11.50m COILED/IGS/COW EUROTANKERS GREECE

SELLERS ARE . VESSEL

HAD BEEN REPORTED

SOLD IN DEC 2007 AT

$47.25m AND IN JULY

2006 AT $42.5m

8920866

FAITHFUL TANKER 1993 TSUNEISHI 93,891 $6.25m TRAFIGURA NETHERLANDS

SELLERS ARE TOP

TANKER MANAGEMENT

INC, GREECE. OTHER REP

SAYS BUYERS ARE

CHINESE

9015333

SKIROPOULA TANKER 1995 ZALIV 68,232 $12.00mDUBAI BASED

BUYERSDUBAI

SELLERS ARE ELETSON

CORPORATION GREECE9053127

SPOTLESS TANKER 1991 HALLA INCHON 47,083 $7.00m GREEK BUYERS GREECE

SELLERS ARE EMPIRE

NAVIGATION INC

GREECE. IN AUG 2008

THESE TWO VESSELS

WERE REPORTED SOLD

AT $24m EACH

8913564

DOUBTLESS TANKER 1991 HALLA INCHON 47,083 $7.00m GREEK BUYERS GREECE

SELLERS ARE EMPIRE

NAVIGATION INC

GREECE. IN AUG 2008

THESE TWO VESSELS

WERE REPORTED SOLD

AT $24m EACH

8913588

DAUNTLESS TANKER 1999 HYUNDAI HI 46,168 $20.00m PETROGULF UAESELLERS ARE TOP

TANKERS MANAGEMENT

INC, GREECE9183594

OCTOBERTANKER SHIPS SOLD DURING THIS MONTH

$72.00m

SOLD ENBLOC TO

POLARIS SHIPPING

FOR CONVERSION

FOR $72m FOR

BOTH UNITS

SKS INDIA

SOLD EN BLOC ON

SUBJECTS FOR $72m FOR

BOTH UNITS. WITH A 5

YEAR BAREBOAT BACK

AT $28000 PER DAY




FORMOSA FIFTEEN TANKER 2005 JAPAN 45,663 $27.00m GULF ENERGY UAE

SELLERS ARE FORMOSA

PLASTICS MARINE CORP

TAIWAN. CHEMICAL.

LAST MONTH (SEPT

2010) SHE HAD BEEN

REPORTED SOLD AT

$25.5m TO MIDDLE

EASTERN BUYERS

9272709

KASTELORIZO TANKER 1991 HITACHI ZOSEN 45,425 8909472

SALAMINA TANKER 1991 HITACHI ZOSEN 45,425 8909460

FOLEGANDROS TANKER 1992 HITACHI ZOSEN 45,425 8917467

BATAVIA TANKER 1992IMABARI

MARUGAME41,430 $6.30m

UNDISCLOSED

BUYERS‐

SELLERS ARE TANKER

PACIFIC MANAGEMENT

SINGAPORE9039547

TIKHVIN TANKER 1996BRODOTROGIR

SHIPYARD40,727 9112117

TROITSK TANKER 1996 ULJANIK BRODOG 40,727 9105085

ARISTIDIS TANKER 2006 HYUNDAI 36,680 $32.50mNEW LEAD

HOLDINGSGREECE

SELLERS ARE OMEGA

NAVIGATION USA9327413

GOLDEN LEGEND TANKER 2009KURINOURA

YAWATAHAMA23,432 9511167

GOLDEN IVY TANKER 2008 JAPAN 23,324 9459539

GOLDEN CHARLOTTE TANKER 2006 JAPAN 19,717 9345908

SHINTOKU TANKER 1997 SASEBO SASEBO 18,523 $7.50m DHSINGAPORE

BUYERSSINGAPORE

SELLERS ARE IINO

MARINE SERVICE CO

JAPAN9146039

SAMHO FREEDOM TANKER 2010SAMHO

SHIPBUILDING17,000 P&C TERMS

UNDISCLOSED

BUYERS‐

SELLERS ARE SAMHO

SHIPPING CO LTD, KOREA9498107

VENUS 7 TANKER 1986SHIKOKU

DOCKYARD16,933 $1.36m

CLIENTS OF

FAIRWORLD‐

SELLERS ARE SEKWANG

SHIPPING CO KOREA8512384

GOLDEN GEORGIA TANKER 1996KURINOURA

YAWATAHAMA16,337 $6.00m

FAR EASTERN

BUYERSFAR EAST

SELLERS ARE DORVAL

KAIUN KK JAPAN9124055

GOLDEN ELIZABETH TANKER 1997KURINOURA

YAWATAHAMA16,322 $7.50m EUROPEAN BUYERS EUROPE

SELLERS ARE DORVAL

KAIUN KK JAPAN. IN

APRIL 2009 SHE HAD

BEEN REPORTED SOLD

AT $21m

9170949

SAMHO GLORIA TANKER 2008SAMHO

SHIPBUILDING13,153 $16.00m DH

UNDISCLOSED

BUYERS‐

SELLERS ARE SAMHO

SHIPPING KOREA9332494

TJORE‐OLIVIA TANKER 2008ZHEJIANG

DONGFANG9,250 $7.50m

UNDISCLOSED

BUYERS‐

SELLERS ARE PARSHAM

UAE9408358

GLOBAL HILDA TANKER 1993 HIGAKI 9,141 $4.30m IMO II/IIIUNDISCLOSED

BUYERS‐

SELLERS ARE GLOBAL

MARINE SERVICE CO

LTD, JAPAN9078177

SUNRISE ROSA TANKER 2004 SHIN KURUSHIMA 8,676 $11.00m DH KOREAN BUYERS KOREASELLERS ARE SUNRISE

MARITIME JAPAN9291315

DANIA SPIRIT TANKER 2000 HYUNDAI HI 8,669 P&C TERMS ANTHONY VEDER NETHERLANDSLPG. SELLERS ARE. SOLD

WITH T/C TO STAOIL9208148

MARIANNA KOSAN TANKER 2008SE4KWANG HEAVY

INDUSTRY8,500 P&C TERMS

NANJING TANKERS

CORPCHINA

GAS TANKER. SELLERS

ARE LAURITZEN KOSAN

A/S, DENMARK9349928

AEGEAN FORCE TANKER 1980 HUSUMER 6,679 $1.10mUNDISCLOSED

BUYERS‐

SELLERS ARE AEGEAN

BUNKERING SERVICES,

GREECE8007080

LOEX TANKER 2001 MURAKAMI HIDE 5,650 $16.30m 7223 CBM

DIAMANTIS

PATERAS

MARITIME

GREECE

SELLERS ARE EXECUTIVE

SHIP MANAGEMENT

PTE, SINGAPORE. LPG.

INCLUDING A 2 TO 3

YEAR T/C BACK TO

GEOGAS AT $370,000

PER MONTH

9238131


SOLD ENBLOC

KASTELORIZO,

SALAMINA,

FOLEGANDROS FOR

$27/28m FOR ALL 3

UNITS. SELLERS ARE

ELETSON CORPORATION

GREECE

$27.50mSOLD ENBLOC FOR

$27/28m FOR ALL 3

UNITS

UNDISCLOSED

BUYERS‐

$90.00m NORWAY

SOLD ENBLOC GOLDNEN

LEGEND, GOLDEN IVY,

GOLDEN CHARLOTTE,

FOR $90m FOR ALL 3

UNITS TO NORWEGIAN

INTERESTS. SELLERS ARE

DORVAL KAIUN KK,

JAPAN

SOLD ENBLOC FOR

$90m FOR ALL 3

UNITS TO

NORWEGIAN

INTERESTS

NORWEGIAN

BUYERS

$12.50m

SOLD ENBLOC TO

CHAMPION

TANKERS

BETWEEN $12/13m

FOR BOTH UNITS

CHAMPION

TANKERSNORWAY

SOLD ENBLOC TIKHVIN,

TROITSK TO CHAMPION

TANKERS BETWEEN

$12/13m FOR BOTH

UNITS. SELLERS ARE JSC

NOVOSHIP, RUSSIA




TANKER 2ND HAND MARKET STATISTICS

COUNTRY UNITS %

2010 UNITS OUTLAY$ DWT GREECE 71 20.17%

JANUARY 57 $1,096.58m 3,446,410 JAPAN 44 12.50%

FEBRUARY 33 $691.20m 2,470,891 SINGAPORE 29 8.24%

MARCH 37 $608.05m 2,798,832 CHINA 23 6.53%

APRIL 37 $1,085.30m 2,768,206 KOREA 20 5.68%

MAY 45 $1,729.10m 5,133,688 TURKEY 18 5.11%

JUNE 17 $578.62m 1,607,662 GERMANY 16 4.55%

JULY 22 $831.15m 3,225,816 UAE 15 4.26%

AUGUST 34 $735.65m 1,972,639 NORWAY 15 4.26%

SEPTEMBER 26 $749.95m 2,203,927 USA 13 3.69%

OCTOBER 44 $790.11m 4,195,478 ITALY 13 3.69%

NOVEMBER 0 $0.00m 0 CYPRUS 10 2.84%

DECEMBER 0 $0.00m 0 UK 10 2.84%

TOTAL 352 $8,895.70m 29,823,549 CANADA 8 2.27%

TAIWAN 5 1.42%

DENMARK 5 1.42%

COUNTRY UNITS OUTLAY ($) % DWT % MALAYSIA 5 1.42%

GREECE 54 $2,752 30.93% 7,780,308 26.09% RUSSIA 3 0.85%

USA 24 $1,227 13.79% 2,452,132 8.22% ALL OTHER 25 7.10%

NORWAY 21 $624 7.02% 1,632,793 5.47% UNDISCL 4 1.14%

CHINA 19 $331 3.72% 1,481,850 4.97% TOTAL 352 100.00%

INDONESIA 17 $184 2.07% 686,222 2.30%

UAE 12 $357 4.01% 524,564 1.76%

INDIA 12 $252 2.84% 1,676,928 5.62%

FAR EAST 9 $71 0.80% 844,140 2.83%

SINGAPORE 10 $129 1.45% 688,924 2.31%

DENMARK 7 $184 2.07% 289,092 0.97%

KOREA 7 $68 0.76% 613,223 2.06%

BRAZIL 6 $133 1.49% 1,787,302 5.99%

NIGERIA 6 $23 0.25% 147,921 0.50%

UNDISCL 71 $1,075 12.09% 4,934,279 16.54%

ALL OTHER 77 $1,487 16.72% 4,283,871 14.36%

TOTAL 352 $8,896 100.00% 29,823,549 100.00%

2010 VLCC & ULCC SUEZMAXAFRAMAX

110K

PANAMAX

70KPROD 45K < 40,000 OBO LPG & LNG TOTAL

JANUARY 3 6 4 2 15 21 1 5 57

FEBRUARY 3 0 7 5 8 10 0 0 33

MARCH 5 3 5 0 2 21 0 1 37

APRIL 4 2 4 4 8 10 0 5 37

MAY 9 8 4 2 8 13 0 1 45

JUNE 2 4 2 1 1 4 0 3 17

JULY 9 0 3 0 3 6 0 1 22

AUGUST 2 0 4 4 8 14 0 2 34

SEPTEMBER 2 1 7 3 9 4 0 0 26

OCTOBER 9 1 6 1 10 17 0 0 44

NOVEMBER 0 0 0 0 0 0 0 0 0

DECEMBER 0 0 0 0 0 0 0 0 0

TOTAL 48 25 46 22 72 120 1 18 352

A hot month in terms of Sale and Purchase activity. Low

earnings are pushing ship prices down and more deals are

expected during the next few months. It is important to note

that Greek buyers and Greek sellers are active again, on both

fronts, and the ships that were seen changing hands this

month were mainly Aframaxes and MR's and quite a large

number of VLCC's, as nine of these large ladies built in the

90's and 2k's. The total dwt that changed hands this month

was on the high side with 4.2mil tones a figure near as high

as the record number we saw in July 2010 when 5.1mil tones

were sold. The tanker freight market has marginally picked

up during the end of the month, and if expected seasonality

demand boost will be as effective as all wish and rates are

given the needed boost that will also alter the sales market.

SELLERS STATS 2010

TANKER UNITS SOLD ‐ BREAKDOWN PER SIZE AND MONTH 2010

MONTHLY UNIT SALE ACTIVITY

BUYERS ‐ Greek buyers are firmly leading the tanker buyers league. After a quiet

September Greeks have acquired 7 more tankers this month and tally a total of 54units

(47 last) of 7.8million DWT carrying capacity, and have forked out a massive $2.8billion

USD. USA based buyers are in 2nd place with 24 units (24 last), and we have a change in

3rd place, wtih Norwegian coming 3rd having added 5 ships more this month totalling

21 units, with Chinese 4th with 19 units. It is worth noting that India has pushed up in

the ranks as they might only have acquired 12 ships however the carrying cpacity totals

1.7mil tones, with Brazilian buyers also having acquired only 6 units of a total capy of

1.8mil tones.

SELLERS ‐ Table on the RIGHT shows the nationality of the Sellers.

Greek Sellers sold 11 more units in OCT 2010 and are in number one

position seling‐off 71 units (60 last).

2010 TANKER buyer STATISTICS Japanese sellers are well in 2nd

place with 44 units (34 last), while

Singapore sellers are still 3rd with

29 units (26 last) and Chinese

sellers are 4th unchanged for 3rd

month with 23 ships, (all data is

ships sold during the period Jan‐

Oct 2010)




CHANGE

FROM 29/9/2009

VLCC $162.3 $102.0 $110.0 8%SUEZMAX $97.5 $69.0 $70.0 1%AFRAMAX $81.5 $49.0 $59.0 20%PANAMAX $65.0 $45.2 $46.0 2%MR PROD $55.3 $35.0 $38.0 9%

CHANGE

FROM 29/9/2009

VLCC $160.0 $77.2 $86.0 11%SUEZMAX $106.5 $60.8 $60.0 ‐1%AFRAMAX $77.0 $39.6 $47.0 19%PANAMAX $59.5 $37.5 $36.0 ‐4%MR PROD $52.5 $27.6 $29.0 5%

CHANGE

FROM 29/9/2009

VLCC $133.0 $59.0 $62.0 5%SUEZMAX $78.0 $43.0 $44.0 2%AFRAMAX $64.0 $30.0 $34.0 13%PANAMAX $49.0 $27.2 $23.0 ‐15%MR PROD $42.0 $22.0 $18.0 ‐18%

CHANGE

FROM 29/9/2009

VLCC $100.0 $40.0 $40.0 0%SUEZMAX $62.0 $27.0 $25.0 ‐7%AFRAMAX $40.0 $15.0 $16.5 10%PANAMAX $34.0 $14.0 $16.0 14%MR PROD $31.0 $11.0 $13.0 18%

CHANGE

FROM 29/9/2009

VLCC $34.5 $17.1 $16.0 ‐6%SUEZMAX $27.5 $14.6 $12.5 ‐14%AFRAMAX $20.5 $9.4 $9.0 ‐4%PANAMAX $15.0 $7.7 $7.0 ‐9%MR PROD $11.5 $6.0 $4.5 ‐25%

1995 built (15Y old) TANKERS PRICE COMPARISON

TYPE 29/09/2008 29/09/2009

29/09/2009

29/09/2009

29/09/2009

NB TANKERS PRICE COMPARISON

TYPE

29/10/201029/09/2008

Tables above compare prices from OCTOBER 2008, OCTOBER 2009, with today

In the table on the top we see the MONTHLY tanker capital expenditure for OCTOBER 2010 compared to

2009's monthly activity.


TYPE 29/09/2008

TYPE


29/09/2008

29/10/201029/09/2008

29/09/2009 29/10/2010


In the table on the top we see monthly number of tanker ships sold as of OCTOBER 2010, compared

to 2009's monthly activity.

29/10/2010

TYPE

29/10/2010

NEWBUILDING TANKER PRICES 2000 - 2010

$24

$44

$64

$84

$104

$124

$144

$164

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K

5 YEAR OLD TANKER PRICES 2000 - 2010

$20

$40

$60

$80

$100

$120

$140

$160

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K

Tanker units sold 2010 vs 2009

16

3734

0 0

2724

1622

17181916

35

21

45

26

17

4537

33

57

44

22

0

10

20

30

40

50

60

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

units 2009 2010 Tankers - Capital expend. 2010 vs 2009

$320 $310$386

$657

$282

$798

$415

$759

$1,375

$229

$435$407

$790

$0

$579$691

$1,097 $1,085

$736$831

$608

$1,729

$750

$0$0m

$200m

$400m

$600m

$800m

$1,000m

$1,200m

$1,400m

$1,600m

$1,800m

$2,000m

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

2009 2010


$0

$20

$40

$60

$80

$100

$120

$140

$160

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


$0

$20

$40

$60

$80

$100

$120

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


$0$5

$10$15$20$25$30$35$40$45$50

Oct-0

0

Apr-01

Oct-0

1

Apr-02

Oct-0

2

Apr-03

Oct-0

3

Apr-04

Oct-0

4

Apr-05

Oct-0

5

Apr-06

Oct-0

6

Apr-07

Oct-0

7

Apr-08

Oct-0

8

Apr-09

Oct-0

9

Apr-10

Oct-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K




NEWBUILDING ORDERS OCTOBER 2010UNITS TYPE TONNAGE YEAR PRICE

1 AHTS 4,000 2013

2 BC 206,000 2013

3 BC 206,000 2012‐2013 $62.0

3 BC 205,000 2012

2 BC 180,000 2012 $55.0

1 BC 180,000 2012

1 BC 180,000 2012 $59.0

1 BC 175,000 2012

6 BC 100,000 2012‐13

1 BC 95,000 2012

2 BC 82,000 2012

2 BC 82,000 2012

3 BC 82,000 2011‐12 $38.0

2 BC 82,000 2011‐12

1 BC 82,000 2012

1 BC 82,000 2012 $36.0

4 BC 82,000 2013

2 BC 82,000 2012 $37.0

1 BC 82,000 2012 $34.5

4 BC 80,000 2012

2 BC 80,000 2012

2 BC 73,000 2012‐13

5 BC 58,000 2011‐12

3 BC 58,000 2012

4 BC 57,000 2011‐13

1 BC 57,000 2012

1 BC 57,000 2011

2 BC 57,000 2012 $36.0

12 BC 48,000 2012‐13 $30.6

1 BC 48,000 2013 $33.0

BC 47,500 2012

5 BC 47,500 2012

4 BC 47,000 2011‐12

6 BC 36,000

2011, 2012,

2013 $27.0

SPP SHIPBUILDING

SUNGDONG

JIANGSU EASTERN

JIANGSU EASTERN

SUNGDONG

SPP PLANT & SHIPBUILDING

SANOYAS

JIANGSU EASTERN (JES)

JIANGSU EASTERN

SAINTY MARINE

OPTION 3 MORE

PRICE YUAN 2.5BILLION (REGION

$367M FOR ALL 12 ‐ $30.6MIL

EACH UNIT)

12 YEAR CHARTER TO U‐SEA BULK

SHIPPING, DENMARK WITH

PURCHASE OPTION

SPECIALIZED NEW DOUBLE‐

HULLED SHIPS WHICH WILL HAVE

THE ABILITY TO LOAD CAUSTIC

SODA CARGOES IN THREE OF

THEIR SEVEN CARGO HOLDS. THEY

WILL BE BASED ON A DESIGN FOR

A SERIES OF SIX VESSELS

DELIVERED BY OSHIMA IN JAPAN

TO NORWEGIAN SHIPOWNER

KLAVENESS BETW

OPTIONS EXERCISED

PLUS 1 OPTION DELY 2013

TWO NOW ORDERED

NEW DESIGN. BUILDER'S OR

TRADING HOUSE ACCOUNT FOR

RESALE

OTHER REP SAYS DELY LATE 2011

OPTION TWO MORE EXERCISED.

FOUR NOW ORDERED

OPTION TWO MORE EXERCISED.

FOUR NOW ORDERED

OPTION 1 MORESPECIALIST IRONSAND SLURRY

CARRIER. THE VESSEL WITH

REPLACE MV TAHAROA EXPRESS

145,842 DWT/BLT 1990 WHICH IS

THE WORLD'S ONLY IRONSAND

SLURRY CARRIER

AH11 DESIGN. LONG TERM

CONTRACT TO PETROBRAS BRAZIL

CLASSIC MARITIME IS A

SUBSIDIARY OF DRYSHIPS, GREECE

OPTION FOR 2 MORE

CHINA SHIPPING DEVELOPMENT

CHINA SHIPPING HAISHENG

CHINESE BUYERS

UNDISCLOSED CHINESE BUYERS

HUAYUAN LOGISTICS

DAIICHI CHUO KISEN JPN

SHIPPING CORP OF INDIA

SAMMOK SHIPPING

GESTION MARITIME

MODION MARITIME MGMT

YASA SHPG IND.

AKMAR SHIPPING & TRADING

FIRST STEAMSHIP

YARD NOTESBUYER’S NAME

VICTORIA STEAMSHIP

SHANGHAI BAOSTEEL SHIPPING

N.Y.K. LINE

UNDISCLOSED JAPANESE

CONTRACTOR

PITIOUSA SHIPPING

WILMAR INTERNATIONAL

WILMAR INTERNATIONAL

NORSKAN OFFSHORE BRAZIL

CLASSIC MARITIME MONACO

SINOTRANS SHIPPING

NYK LINE

VICTORIA STEAMSHIP

KUMIAI SENPAKU

QINGDAO BEIHAI

JIANGSU EASTERN HI

JINHAI HI

OSHIMA

YANGZHOU DAYANG

NANTONG COSCO KHI

HUATAI HI

COSCO GUANGDONG

COSCO GUANGDONG

JINLING

JIANGSU SHIPPING INDUSTRY

CHINA SHIPPING IND

JIANGSU EASTERN (JES)

JIANGSU EASTERN

JIANGSU YANGZJIANG

HYUNDAI MIPO

JIANGSU EASTERN

NANTONG COSCO KHI

QINGDAO BEIHAI

MITSUBISHI

STX PROMAR BRAZIL

SHANGHAI WAIGAOQIAO

GUANGZHOU LONGXUE

SHIPBUILDING

NANTONG COSCO KHI

UNDISCLOSED CONTRACTOR

RIO TINTO SHIPPING

SETAF‐SAGET

JAPANESE UNDISCLOSED

CONTRACTOR

DYNASTY XIA SHIPPING CO

QINHUANGDAO STAR SHIPPING

HUAYUAN STAR SHIPPING

ENTERPRISES SHIPPING &

TRADING




2 BC 28,000 2011‐12

4 CONT 160,000 2013 $140.0

4 CONT 150,000 2013 $120.0

1 CONT 110,000 2012‐13

1 CONT 110,000 2012‐13

7 CONT 105,000 2013‐14 $103.0

4 CONT 98,000 2013 $99.0

8 CONT 58,000 2013‐14 $50.0

4 CONT 56,000 2013 $53.0

8 CONT 56,000 2013 $50.0

2 CONT 24,300 2012 $29.9

6 GAS 12,000 2012‐13 $40.0

2 MPP 26,000 2012

2 MPP 24,000 2012 $30.0

1 OTHER 4,000 2012 $17.5

4 OTHER 3,200 2012 $25.0

2 OTHER 2012 $190.0

4 PAX 35,000 2013 $145.9

1 PAX 2012

1 RORO 1800 GT 2011

2 RORO 15,000 2012

4 TANKER 320,000 2013 $106.7

4 TANKER 319,000 2012‐13 $105.0

2 TANKER 157,000 2013 $65.0

12 TANKER 120,000 2014 $66.0

2 TANKER 120,000 2012

4 TANKER 119,900 2014

10 TANKER 100,000 2013 $70.0

1 TANKER 100,000 2012

2 TANKER 19,900 2011

1 TANKER 16,500 2012

2 TANKER 16,500 2011

2 TANKER 12,500 2013‐14 $40.0

2 TANKER 9,000 2012 $30.0

2 TANKER 9,000 2012 $30.0

2 TANKER 7,800 2012 $17.0

1 TANKER 7,000 2013

2 TANKER 3,500 2012

1 TANKER 1,200 2011 $1.2


BITUMEN TANKER

PRODUCT

EIGHT NOW ORDERED . MANAGED

BY EITZEN NORWAY

PLUS 4 OPTIONS. STAINLESS STEEL

TANKS

STAINLESS STEEL. OPTION FOR

ONE MORE

PART OF AN ORDER FOR 10 VSLS

CONTRACTED BY UNITED

SHIPBUILDING CO RUSSIA WHICH

IS A JOINT VENTURE WITH

DAEWOO CALLED ZVEZDA DSME.

A NEW YARD WILL BE SET UP AT

ZVEZDA, RUSSIA FOR

COMPLETION IN 2013. FIRST 3

VSLS WILL BE BUILT AT DAEWOO

OPTION 2 MORE DELIVERY IN 2014

LR2'S

OPTION UP TO 10 MORE

4 OPTION 4

1200 PAX, 75 CARS

6,500 CARS

OPTION FOR 2 MORE

1382 TEU

ANCHOR HANDLING

PLATFORM SUPPLY. DEEP WATER

OPERATIONS. OPTION 4 MORE

JACKUP DRILLING RIGS. OPTION 3

MORE390 PAX. 120 CARS. LNG

POWERED

DOUBLE ENDED FERRY. DESIGNED

BY JORGEN PETERSEN AS,

DENMARK. TWO 368 KW DIESEL

3600 TEU. PRICE IS LOW/MID 50'S1730 TEU. LINER VESSEL. PACIFIC

SHIPPING TRUST IS CLOSELY

ASSOCIATED WITH PACIFIC

INTERNATIONAL LINES. 6 NOW

ORDERED

LPG 12,000 CBM

13,000 TEU. OPTION PLUS 4 PLUS

2

9000 TEU

9000 TEU

8000 TEU. 17 NOW ON ORDER

13,000 TEU. OPTION FOR 6 MORE.

THE CONTRACT PRICE MAY BE

REDUCED IF THE OPTIONS ARE

DECLARED

SHANGHAI JINHAI SHIPPING

YILMAR

STOLT‐NIELSEN

MODEST POWER ENGINEER CO

BANGLADESH

GRONA TANKERS

JACCAR HOLDINGS LUXENBOURG

EAST OCEAN SHIPPING

ORIENTAL OCEAN SHIPPING

PDVSA

CONSOLIDATED MARINE

MARUBENI CORP JPN

HAOYOU SHPG

CENTRAL MARE INC

SOVCOMFLOT

SOVCOMFLOT

SOVCOMFLOT

WYKER DAMPSCHIFFS GERMANY

WILH. WILHELMSEN

SHIPPING CORPORATION OF

INDIA

SK SHIPPING

TIDEWATER INC, USA

ATTWOOD OCEANICS INC

TORGHATTEN TRAFIKK

HUNDESTED‐RORVIG DENMARK

JACAR HOLDINGS LUXEMBURG

PACIFIC CARRIERS

PACIFIC INTERNATIONAL LINES

MARNAVI

HAMBURG SUD

METROSTAR MNGT.

DELPHIS

PACIFIC SHIPPING TRUST

SHIH WEI NAVIGATION

ZODIAC MARITIME

ZODIAC MARITIME

BERNHARD SCHULTE

COSTAMARE SHIPPING CO

EVERGREEN TAIWAN

CARDIFF MARINE INC

KITANIHON

STX SHIPBUILDING

STX SHIPBUILDING

JIANGNAN CHANGXING

JIANGNAN CHANGXING

SAMSUNG

HUDONG ZHONGHUA

SHANGHAI SY

SPP SHIPBUILDING

HANJIN SUBIC BAY

DALIAN SHIPBUILDING

SINOPACIFIC

PPL SHIPYARD

REMONTOWA GDANSK

WESTERN MARINE

TAIZHOU KOUAN

DALIAN SHIPBUILDING

ABG SHIPYARD

DRYDOCKS WORLD BATAM

INDONESIA

NEPTUN WERFT

MITSUBISHI

JIANGSU RONG SHENG

HYUNDAI HI

RONGSHENG HI

ZVEZDA‐DAEWOO

ZVEZDA DSME

DAEWOO

CHINA DONGFANG SB

DONG FANG

DAEWOO

HYUNDAI

FUKUOKA

ZHEJIANG

8,500 TEU. WILL BE FINANCED BY

A CHINESE BANK

3800 TEUS

3500 TEU. 4 OPTION 4

CHONGQING CHUANDONG

MARMARA TERSANESI

NANJING EAST STAR

WESTERN MARINE

JIUJIANG

DAJIANG SHIPBUILDING




2010 ORDERS UNITS BC MPP CONT TANKER LNG/LPG ALL OTHER TOTAL

JANUARY 35 68 42 0 0 12 6 8 68FEBRUARY 39 75 35 0 0 18 4 18 75MARCH 44 121 71 0 5 29 3 13 121APRIL 18 49 32 0 0 16 1 0 49MAY 34 88 63 0 0 20 2 3 88JUNE 42 122 75 10 1 32 0 4 122JULY 57 156 70 9 15 48 8 6 156

AUGUST 57 147 93 3 8 32 8 3 147SEPTEMBER 60 138 68 3 22 38 0 7 138OCTOBER 73 217 92 4 43 56 6 16 217NOVEMBER 0 0 0 0 0 0 0 0 0DECEMBER 0 0 0 0 0 0 0 0 0TOTAL 459 1,181 641 29 94 301 38 78 1,181

DRY BULK ORDERS 2010CAPES +P PMAX 121 UNITSKAMSARMAX 184 UNITS

PANAMAX 66 UNITSSUPRAMAX 85 UNITS

HANDYMAX 64 UNITS

HANDIES 119 UNITS639 TOTAL

TANKER ORDERS 2010VLCC 60 UNITS

SUEZMAX 76 UNITS

AFRAMAX 49 UNITS

LR 24 UNITS

MR 31 UNITS

240 TOTAL

2010NAME TYPE YEAR BUILT DWT LDT PRICE BREAKER IMO

LANIA TANKER 1990 MITSUBISHI NAGASAKI 248,050 29,200 460$ INDIA 8808642

IRONGATE BC 1982SUMITOMO HI

OPPAMA 179,618 14,555 380$ CHINA 8106484

SWIFT RESOLUTE BC 1982 MITSUI TAMANO 132,086 17,685 460$ INDIA 8005082

PRINCE WILLIAM SOUND TANKER 1975 SUN SHIPBUILDING CH 125,926 23,154 430$ INDIA 7395349

ZEINAT 2 TANKER 1986ULJANIK

BRODOGRADILIST 82,424 15,002 477$ INDIA 8325573

SPLENDOUR TANKER 1987 NAMURA IMARI 60,959 11,287 455$ PAKISTAN 8607775

OPA TANKER 1984 KOREA SHBLDG & ENG 57,133 16,294 480$ INDIA 8113528

SEBASTIAN LERDO DE TEJA TANKER 1976 HORTEN 56,746 11,962 220$ INDIA 7383293

TOLTECA TANKER 1978 ITALCANTIERI MFL 44,690 11,962 220$ INDIA 7531319

ANNOULA TANKER 1982 BRODOMOSOR‐ YUG 40,490 9,749 450$ INDIA 8003333

MSC VOYAGER CONT 1980 MITSUBISHI KOBE 36,433 16,455 468$ INDIA 7820916

STAR IV TANKER 1976 VEROLME 33,788 6,117 475$ INDIA 7342976

STOLT PRIDE TANKER 1976DUBIGEON‐

NORMANDIE 31,942 10,184 400$ INDIA 7400821

CANADIAN PROSPECTOR BC 1964 SHORT SUNDERLAND 30,627 ‐ ‐ TURKEY 5426663

BAO YUE JIA BC 1978CHINA SHIPBUILDING

KAO 29,095 8,244 430$ CHINA 7618313

ALGOISLE BC 1963 VEROLME CORK 27,199 ‐ ‐ TURKEY 5417820

COZUMEL CEMENT BC 1984DALIAN SHIPYARD CO

LTD 27,145 8,721 ‐ INDIA 8101915

WEI HSING BC 1972 NAMURA OSAKA 27,048 6,445 370$ CHINA 7125184

OCEAN BEAUTY BC 1977 HYUNDAI SHIPBUILDIN 24,740 6,537 400$ CHINA 7509263

AGAWA CANYON BC 1970COLLINGWOOD

SHIPYAR 24,121 ‐ ‐ TURKEY 7028556

GRAND FORTUNE BC 1971 HORTEN 22,200 6,154 370$ CHINA 7125615

INDEPENDENCIA TANKER 1974 VEROLME HEUSDEN BV 21,704 6,140 220$ INDIA 7368504

KING SPIRIT BC 1977 MITSUBISHI NAGASAKI 21,081 10,400 440$ INDIA 7601566

NORILSK MPP 1982 WARTSILA ‐ TURKU 19,942 10,816 415$ CHINA 8013003

APL ORCHID CONT 1984 JIANGNAN SHIPYARD 18,437 6,821 450$ INDIA 8207898

DESPINA MPP 1982LENINA STOCZNIA

GDANSK 18,234 7,847 503$ INDIA 8030881

SELLERS ARE NEPTUNE SHIPMANAGEMENT SERVICES,

SINGAPORE. AS IS JEBEL ALI DESTINED FOR INDIA

THE PRICE CAN BE ATTRIBUTED TO THE FULL LIST OF

SPARES, BUNKERS ROB, CROATIA BUILT (MEANING

RICH NON FERROUS ITEMS) AND THE FACT THE

SELLERS ARE GRAND FORTUNE GROUP CO LTD, CHINA

SELLERS ARE PETROLEOS MEXICANOS SA, MEXICO

SELLERS ARE NANJING KING SHIP MANAGEMENT CO

LTD, CHINA

SELLERS ARE NB MARITIME MANAGEMENT LTD,

CYPRUS. RORO

SELLERS ARE KRISTIAN GERHARD JEBSEN SKIPREDERI,

NORWAY

SELLERS ARE JUI ZONG SHIP MANAGEMENT CO LTD,

TAIWAN

SELLERS ARE NEO FIELD SHIPPING CO LTD, KOREA

YAZICI GEMI SOKUM LTD

SELLERS ARE HTM SHIPPING CO LTD, CHINA. OTHERS

REPORT PRICE $415

SELLERS ARE STOLT TANKERS BV, NETHERLANDS

NOTES

OCTOBERREPORTED DEMOLITION DEALS

INCL 230 TS ST ST

SELLERS ARE. AS IS DELIVERY LABUAN DESTINED FOR

INDIA. SALE INCLUDES 1400T FUEL ROB.

SELLERS ARE INTERNATIONAL MARINE

MANAGEMENT CO INC, GREECE. OPTION EITHER USD

470 BASIS DELY PAKISTAN OR USD 477 BASIS DELY

AS IS FUJAIRAH. SELLERS ARE FAL SHIPPING CO LTD,

UAE

SELLERS ARE DELFI SA GREECE ‐ CHEMICAL PRODUCTS

TANKER. VESSEL HAD BEEN REPORTED SOLD FOR

DEMO IN APRIL 2010 AT $508 TO PAKISTANSELLERS ARE PETROLEOS MEXICANOS SA, MEXICO.

INDIAN BREAKERS ENBLOC TOLTECA AND SEBASTIAN

LERDO DE TEJASELLERS ARE PETROLEOS MEXICANOS SA, MEXICO.

INDIAN BREAKERS ENBLOC TOLTECA AND SEBASTIAN

LERDO DE TEJA

SELLERS ARE PROJECT SHIPPING INC, GREECE.

SELLERS ARE TARGET MARINE SA, GREECE

AS IS FUJAIRAH, SELLERS ARE POLYAR TANKERS SA,

NORWAY

SELLERS ARE ZODIAC MARITIME AGENCIES, UK

1600 TS IFO ROB. SELLERS ARE GRACE LINE LTD, USA

NEWBUILDING ORDERS BREAKDOWN by TYPE PER MONTH, for YEAR 2010

NEW BUILDING ORDERS PER SHIPTYPES IN 2010

BC, 641, 55%

MPP, 29, 2%CONT, 94, 8%

TANKER, 301, 25%

LNG/LPG, 38, 3%

ALL OTHER, 78, 7%

DRY BULK ORDERS 2010

42 35

71

32

6375 70

93

66

92

0

10

20

30

40

50

60

70

80

90

100

Jan-

10

Feb-1

0

Mar

-10

Apr-10

May

-10

Jun-1

0

Jul-1

0

Aug-10

Sep-1

0

Oct-1

0

BULKERS




PHEAFAN BC 1978 HDW AG ‐ KIEL ‐ GFR 17,800 ‐ ‐ CHINA 7720893

FLOTEC MPP 1982WARNOWWERFT

WARNEMU 17,330 7,100 390$ CHINA 8225448

TERRISHA BC 1984WARNOWWERFT

WARNEMU 17,330 7,160 435$ INDIA 8422905

SUIJIN RORO 1984 IMABARI MARUGAME 17,328 12,500 400$ CHINA 8323147

DESPINA TWEEN 1977LENINA STOCZNIA

GDANSK 17,982 7,761 430$ INDIA 7428809

BAHREGAN 10 BC 1975 WESER SEEBECKWERFT 16,265 4,897 ‐ INDIA 7360746

TOSCA CAR 1978 NKK CORP ‐ TSU 15,311 15,272 ‐ CHINA 7708833

GLOBAL MACEIO TANKER 1986 VIANA DO CASTELO 15,089 4,712 ‐ ‐ 8220577

IREEX BC 1978 KHERSONSKIY SSZ ‐ USR 14,550 5,615 475$ INDIA 7740972

SIGLOO POLAR GAS 1982MOSS ROSENBERG

MOSS 12,426 5,650 ‐ INDIA 8107141

PACIFIC TRADER TANKER 1980 BERNER 10,359 3,774 472$ INDIA 7920431

NATIONAL STAR BC 1982 ALEXANDRIA SHYD. 8,230 ‐ ‐ TURKEY 7810961

GLORY K BC 1977 NISHI SHIPBUILDING 7,305 ‐ ‐ TURKEY 7618480

STAR ORION TANKER 1980 HIGAKI 7,089 2,300 445$ INDIA 8512190

ALFA MARMARA TANKER 1985 KOCHI JYUKO 6,763 2,600 475$ INDIA 8418241

CAPELLA SD 1976 MIE YOKKAICHI 6,691 ‐ ‐ TURKEY 7522760

AL FAJR AL MUSHRIQ BC 1982 ASIA‐PACIFIC SHIPYARD 6,412 2,039 ‐ INDIA 8129060

OLIB G TANKER 1988 CANTABRICO RIERA CA 6,375 ‐ ‐ ‐ 8026608

INNES BC 1976 AUKRA BRUK AS 6,300 ‐ ‐ INDIA 7502069

ANAKONDA SD 1972 KLEVEN MEK VERKSTED 6,230 ‐ ‐ TURKEY 7224368

WIN REEFER 1979 MINAMI‐NIPPON USUKI 6,077 ‐ ‐ CHINA 7818808

SICHEM CORMORAN TANKER 1987 ESERCIZIO VIAREGGIO 5,453 2,095 ‐ INDIA 8610447

EROTOKRITOS T PAX 1974 NAIKAI SHIPBUILDING 5,422 11,000 367$ INDIA 7394747

BALAKLAVA II REEFER 1978 HONDA SAIKI 5,179 3,202 428$ INDIA 7722360

ARKAIM‐1 SD 1977GOTAVERKEN

SOLVESBO 5,166 ‐ ‐ CHINA 7626451

VILJANDI RORO 1978 A. ZHDANOV 4,600 6,015 470$ INDIA 7740465

RAVENNA RORO 1975 LUIGI ORLANDO 4,371 3,462 305$ TURKEY 7351226

CAPITAL STAR SD 1969 OKA NAVASHINO 4,150 ‐ ‐ TURKEY 7008635

TRIAL SD 1969 KRASNOYE SORMOVO 3,361 ‐ ‐ TURKEY 7011101

GOLDEN CRUX NO. 18 TANKER 1995SHIN KURUSHIMA

IMABARI 2,999 1,476 410$ INDIA 9129691

GENIUS PRIME TANKER 1984KURINOURA DOCKYARD

CO 2,708 1,112 370$ PAKISTAN 8323630

LUMY SD 1973DROBETA‐TURNU

SEVER 2,600 1,121 370$ PAKISTAN 7311886

EUROFERRYS ATLANTICA PAX 1973 BRODOMOSOR‐ YUG 2,362 6,100 290$ TURKEY 7218668

FLAMENCO I PAX 1972 TIRRENO RIUNITI R.T 2,352 9,606 335$ INDIA 7211517

VENEZIA PAX 1978 LUIGI ORLANDO 2,281 4,220 305$ TURKEY 7521663

OCEAN EXPRESS SD 1978 LUZURIAGA ASTILLERO 2,250 1,405 390$ INDIA 7713333

GRECIA PAX 1973 LUIGI ORLANDO 2,188 4,219 305$ TURKEY 7224514

ANCONA PAX 1966 ITALY 1,950 6,338 465$ INDIA 6608098

WIESBADEN OTHER 1973 RICKMERS RICKMERS 1,846 ‐ ‐ AS IS 7324912

SINDHU‐8 OTHER 1985INCHON ENGINEERING

& S 1,820 1,220 350$ INDIA 8322583

SINDHU‐11 TUG 1985 INCHON ENGINEERING 1,820 1,229 ‐ INDIA 8322612

AGIA MARINA TANKER 1976 ASAKAWA 1,801 ‐ ‐ TURKEY 7620720

PRINCESS GOUD SD 1966 SIETAS SCHIFFSWERFT 1,533 ‐ ‐ TURKEY 6616772

SVETA KSENIYA SD 1977 NIIGATA ENGINEERING 1,270 ‐ ‐ TURKEY 7524005

SPLIT 1700 RORO 1966NOBISKRUG WERFT ‐

GFR 1,118 3,551 465$ INDIA 6606234

APOLLON RORO 1973 D.C.A.N. BREST 1,094 ‐ ‐ TURKEY 7235915

ACQUA AZZURRA SD 1958 DOLLARD 684 ‐ ‐ TURKEY 5301526

ABERDONIAN OTHER 1977 PATTJE WATERHUIZEN 598 ‐ ‐ AS IS 7624350

Note1: With Red color are indicated all Greek interest Sales

BROKEN UP

SELLERS ARE PACIFIC WISE SHIPPING CO LTD UAE

SELLERS ARE BALTIC MERCUR LTD, RUSSIA

SELLERS ARE ILION LINES S.A., GREECE

SELLERS ARE GOLDEN GNOSSIS SHIPPING TAIWAN

BROKEN UP

AS IS PIRAEUS. SELLERS ARE LUCY LINES MARITIME

CO, GREECE

SELLERS ARE DAIICHI TANKER CO LTD, JAPAN

STONE CARRIER

CHEMICAL TANKER

BROKEN UP

KALKAVANLAR GEMI SOKUM TICARET ‐ SELLERS ARE

ANI SHPK ALBANIA

DORTEL GEMI SOKUM DEMIR VE CEL ‐ SELLERS ARE

LOFT SEA CO SA UAE

SELLERS ARE MEGAPORTS SHIPMANAGEMENT PTE

LTD, SINGAPORE

INCL 50T STAINLESS STEEL ON BOARD. SELLERS ARE

ALFA TANKER TASIMACILIK SANAYI VE TICARET AS,

TURKEY

SOK DENIZCILIK TIC LTD STI ‐ ERBAY DENIZCILIK

TASIMACILIK TURKEY

SELLERS ARE LEON TRADING LTD UKRAINE

LPG

SELLERS ARE RIGA TRANSPORT FLEET, LATVIA

SIMSEKLER GEMI SOKUM ‐ ALIAGA

SELLERS ARE GREEN OCEAN SHIPPING CO, IRAN

VEHICLES CARRIER

SELLERS ARE GLOBAL TRANSPORTE OCEANICO SA,

BRAZIL

SELLERS ARE OROCELL SHIPPING INC UAE

SELLERS ARE SHOEI KISEN KAISHA LTD, JAPAN

INCL 370TS BUNKERS. SELLERS ARE ISLAMIC REPUBLIC

OF IRAN SHIPPING LINES (IRISL), IRAN

SELLERS ARE SHANGHAI ADANI SHIPPING CO LTD,

CHINA

KURSAN GEMI SOKUM LTD

CEMSAN GEMI SOKUM SAN LTD

SELLERS ARE SEATRAFFIC LTD, UKRAINE

AS IS SPAIN. SELLERS ARE EUROFERRYS SPAIN

AS IS MALAYSIA. OTHER REPS SAY AS IS GREECE.

SELLERS ARE SHIPS LEISURE SAM, MONACO

CEMSAN GEMI SOKUM SAN LTD

EGE CELIK GEMI SOKUM AS


SELLERS ARE BLUE LINE EUROPE APS, DENMARK

FACTORY STERN TRAWLER ‐ AS IS DENMARK

SELLERS ARE HAL OFFSHORE LTD, INDIA

AHTS

SIMSEKLER GEMI SOKUM ‐ ALIAGA ‐ CHEMICAL

PRODUCTS


SELLERS ARE BLUE LINE EUROPE APS, DENMARK

IZMIR GERI DONUSUM LTD ‐ RORO/PAX

SELLERS ARE ACQUA AZZURRA ITALY

STANDBY SAFETY VESSEL ‐ AS IS DENMARK

SMEDEGAARDEN




DEMOLITION STATISTICS:

2010 UNITS DWT LDT

January 115 3,955,206 1,005,289 UNITS LDT TAKEN AV. SCRP PRICE

February 104 2,616,428 735,515 154 1,298,938 $375

March 131 4,638,388 1,059,123 405 2,925,149 $397

April 145 2,689,620 772,054 92 1,123,467 $399

May 115 2,193,221 577,318 159 237,262 $227

June 113 2,150,003 680,861 93 798,323 $404

July 67 2,117,858 525,766 137 438,555

August 89 2,710,263 644,011 1040 6,821,694 $360

September 87 1,553,341 401,275

October 74 1,754,076 420,482

November 0 0 0

December 0 0 0

TOTAL 1040 26,378,404 6,821,694

TOTAL DRY&WET

UNITS LDT TAKEN av $ UNITS LDT UNITS LDT DWT

154 1,298,938 374.7 132 1,174,979 15 123,959 4,627,213

405 2,925,149 397.4 274 1,935,484 126 989,665 9,594,624

92 1,123,467 399.2 34 271,056 58 852,411 5,854,232

159 237,262 226.6 106 202,766 15 34,496 834,617

93 798,323 403.6 37 185,766 55 612,557 3,748,816

137 438,555 21.2 38 135,373 12 99,390 818,129

1040 6,821,694 360.3 621 3,905,424 281 2,712,478 25,477,631

COUNTRY UNITS % rankGREECE 134 12.9% 1

CHINA 71 6.8% 2

UAE 65 6.3% 3

SINGAPORE 50 4.8% 4

USA 45 4.3% 5

NORWAY 39 3.8% 6

JAPAN 38 3.7% 7

TURKEY 37 3.6% 8

SYRIA 37 3.6% 8

RUSSIA 29 2.8% 10

INDIA 25 2.4% 11

UKRAINE 21 2.0% 12

UK 20 1.9% 13

DENMARK 18 1.7% 14

LEBANON 18 1.7% 14

VIETNAM 17 1.6% 16

ITALY 17 1.6% 16

GERMANY 15 1.4% 18

LATVIA 15 1.4% 18

SPAIN 13 1.3% 20

ALL OTHER 305 29.3%

UNDISCL 11 1.1%

TOTAL 1040 100.0%

UNIT IN

TAKE P

ER SC

RAP

COUNTR

Y FO

R 2010

PAKISTAN

INDIA

TOTAL

OTHER/CASH/AS IS

BANGLADESH

TURKEY

WET

CHINA

DRY

LDT IN

TAKE P

ER SC

RAP COUNTR

Y

FOR 2010

2010 DEMOLITION SELLERS STATISTICS

source of data: N. COTZIAS SHIPPING CONSULTANTS (NCSC)

TURKEY

PAKISTAN

OTHER/CASH/AS IS

TOTAL

DETAILED BREAKER REGION ‐ STATISTICS FOR 2010

BANGLADESH

INDIA

BREAKER

CHINA

BREAKER

BREAKER – STATS ‘2010

Average Scrap Price & No of Ships Scrapped 2005-2010

87

74

812 14

19 1924

22212317

10

13

16

17

13

25

16

2119

11

17

1617

17

18

20

15

17

7

12

510

16

011

21 1824

29 29

27

39

50 67

125

104

131

115

94

6263

75

91

101

95

112

7379

134

115

145

113

89

129

125

$100

$200

$300

$400

$500

$600

$700

$800

Apr-05

Jun-0

5

Aug-05

Oct

-05

Dec-0

5

Feb-0

6

Apr-06

Jun-0

6

Aug-06

Oct

-06

Dec-0

6

Feb-0

7

Apr-07

Jun-0

7

Aug-07

Oct

-07

Dec-0

7

Feb-0

8

Apr-08

Jun-0

8

Aug-08

Oct

-08

Dec-0

8

Feb-0

9

Apr-09

Jun-0

9

Aug-09

Oct

-09

Dec-0

9

Feb-1

0

Apr-10

Jun-1

0

Aug-10

Oct

-10

-5

15

35

55

75

95

115

135

155

Average Scrap PriceNumber of Ships

DEMO STATS 2005-2010

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000

5,000,000

Apr-05

Jun-0

5

Aug-05

Oct

-05

Dec-0

5

Feb-0

6

Apr-06

Jun-0

6

Aug-06

Oct

-06

Dec-0

6

Feb-0

7

Apr-07

Jun-0

7

Aug-07

Oct

-07

Dec-0

7

Feb-0

8

Apr-08

Jun-0

8

Aug-08

Oct

-08

Dec-0

8

Feb-0

9

Apr-09

Jun-0

9

Aug-09

Oct

-09

Dec-0

9

Feb-1

0

Apr-10

Jun-1

0

Aug-10

Oct

-10

-15

5

25

45

65

85

105

125

145

DWTLDTNUMBER

CHINA, 1,298,938, 19%

INDIA, 2,925,149, 44%

BANGLADESH, 1,123,467, 16%

TURKEY, 237,262, 3%

PAKISTAN, 798,323, 12%

OTHER/CASH/AS IS,438,555, 6%

CHINA, 154, 15%

INDIA, 405, 39%

BANGLADESH, 92,

9%

TURKEY, 159, 15%

PAKISTAN, 93, 9%

OTHER/CASH/AS IS,137, 13%




BULKERS / SD

TANK/

OBO/GAS

CONT/

TWEEN/MPP REEFER

RORO PAX

CRUISE, OTHER

VEHICLES

CARRIERS

TRAWLER TUG

OTHER TOTAL

307 302 158 44 105 43 81 1,040 SHIPS

29.5% 29.0% 15.2% 4.2% 10.1% 4.1% 7.8% 100.0%

1,414,475 2,827,992 1,113,824 220,320 623,136 438,988 182,959 6,821,694

6,343,463 14,597,783 2,903,324 363,348 841,625 554,441 774,420 26,378,404

$338,951,753 $960,860,738 $281,701,638 $69,292,474 $149,217,869 $33,505,593 $48,318,155 $1,881,848,220

32.1 Years 27.9 Years 29.3 Years 29.2 Years 35.7 Years 27.3 Years 32.6 Years 30.6 YearsUSD PAID

Demolition DATA for 2010

BALTIC DRY BULK MARKET INDICES until 29th OCTOBER 2010

AVERAGE AGE

STATS

DWT

LDT

%

UNITS

source of data: N. COTZIAS SHIPPING CONSULTANTS (NCSC)

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 CHINA

$228$243

$215 $209$226

$251 $255$268 $279

$266$286

$312 $319$343

$375

$411$382

$398$381

$431$426$438

205

255

305

355

405

455

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09

Nov‐0

9Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 INDIA

$267 $262 $272 $259$234

$258 $249

$309$327

$291

$340$324

$362$344

$387

$457

$410

$370

$419

$488

$407 $405

220

270

320

370

420

470

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09

Nov‐0

9Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 PAKISTAN

$271 $265 $261 $266$248

$282

$315

$273

$313 $312$293

$265

$379$353

$377

$464

$427

$392 $394$407

$371$362

220

270

320

370

420

470

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09

Nov‐0

9Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 BANGLADESH

$274 $269

$311

$277

$240

$296 $289$300

$342$322 $322

$335

$362

$393 $392

$445$433

$400

$345

$384$384$384

220

270

320

370

420

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09

Nov‐0

9Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 TURKEY

$218

$183 $186$202

$172$155

$174 $179 $177 $181 $184 $179 $187 $187 $193

$242

$216$205

$301$295

$223$245

140

190

240

290

340

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09

Nov‐0

9Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T




DATE BDI % frm 1/1/2010 BCI % frm 1/1/2010 BPI % frm 1/1/2010 BSI % frm 1/1/2010 BHI% frm

1/1/2010

30/09/2010 2,446 ‐22% 3,370 ‐20% 2,462 ‐36% 1,847 ‐17% 1,039 ‐10%

01/10/2010 2,452 ‐22% 3,419 ‐19% 2,412 ‐37% 1,843 ‐17% 1,038 ‐10%

04/10/2010 2,478 ‐21% 3,509 ‐16% 2,376 ‐38% 1,853 ‐17% 1,036 ‐10%

05/10/2010 2,569 ‐18% 3,786 ‐10% 2,362 ‐38% 1,860 ‐16% 1,039 ‐10%

06/10/2010 2,639 ‐16% 3,976 ‐5% 2,359 ‐38% 1,873 ‐16% 1,041 ‐10%

07/10/2010 2,662 ‐15% 4,019 ‐4% 2,372 ‐38% 1,885 ‐15% 1,037 ‐10%

08/10/2010 2,692 ‐14% 4,076 ‐3% 2,403 ‐37% 1,894 ‐15% 1,033 ‐10%

11/10/2010 2,695 ‐14% 4,055 ‐3% 2,413 ‐37% 1,898 ‐15% 1,029 ‐11%

12/10/2010 2,719 ‐13% 4,098 ‐2% 2,397 ‐37% 1,905 ‐14% 1,026 ‐11%

13/10/2010 2,748 ‐12% 4,173 ‐1% 2,359 ‐38% 1,899 ‐15% 1,019 ‐11%

14/10/2010 2,769 ‐12% 4,301 2% 2,302 ‐40% 1,881 ‐15% 1,006 ‐13%

15/10/2010 2,762 ‐12% 4,345 4% 2,254 ‐41% 1,858 ‐16% 994 ‐14%

18/10/2010 2,756 ‐12% 4,363 4% 2,214 ‐42% 1,846 ‐17% 988 ‐14%

19/10/2010 2,744 ‐13% 4,366 4% 2,186 ‐43% 1,832 ‐18% 978 ‐15%

20/10/2010 2,729 ‐13% 4,363 4% 2,172 ‐43% 1,816 ‐18% 966 ‐16%

21/10/2010 2,720 ‐13% 4,356 4% 2,179 ‐43% 1,805 ‐19% 956 ‐17%

22/10/2010 2,727 ‐13% 4,373 4% 2,219 ‐42% 1,791 ‐19% 950 ‐17%

25/10/2010 2,748 ‐12% 4,407 5% 2,293 ‐40% 1,784 ‐20% 940 ‐18%

26/10/2010 2,778 ‐12% 4,448 6% 2,393 ‐37% 1,780 ‐20% 931 ‐19%

27/10/2010 2,784 ‐11% 4,461 6% 2,461 ‐36% 1,774 ‐20% 921 ‐20%

28/10/2010 2,707 ‐14% 4,272 2% 2,465 ‐36% 1,768 ‐21% 910 ‐21%

29/10/2010 2,678 ‐15% 4,262 2% 2,410 ‐37% 1,750 ‐21% 897 ‐22%

All Baltic DRY indices 2005 - 2010

3002300430063008300

1030012300143001630018300

Oct-05

Jan-06

Apr-06

Jul-06

Oct-06

Jan-07

Apr-07

Jul-07

Oct-07

Jan-08

Apr-08

Jul-08

Oct-08

Jan-09

Apr-09

Jul-09

Oct-09

Jan-10

Apr-10

Jul-10

Oct-10

BPI

BCIBDI

BSI

BALTIC DRY 2005 - 2010

400

2400

4400

6400

8400

10400

Oct-05Jan-06

Apr-06Jul-0

6Oct-0

6Jan-07

Apr-07Jul-0

7Oct-0

7Jan-08

Apr-08Jul-0

8Oct-0

8Jan-09

Apr-09Jul-0

9Oct-0

9Jan-10

Apr-10Jul-1

0Oct-1

0

BDI

BALTIC PMAX 2005 - 2010

300

2300

4300

6300

8300

10300

Oct-05Jan-06

Apr-06Jul-0

6Oct-0

6Jan-07

Apr-07Jul-0

7Oct-0

7Jan-08

Apr-08Jul-0

8Oct-0

8Jan-09

Apr-09Jul-0

9Oct-0

9Jan-10

Apr-10Jul-1

0Oct-1

0

BPI

BALTIC CAPE 2005 - 2010

400

2900

5400

7900

10400

12900

15400

17900

Oct-05Jan-06

Apr-06Jul-0

6Oct-0

6Jan-07

Apr-07Jul-0

7Oct-0

7Jan-08

Apr-08Jul-0

8Oct-0

8Jan-09

Apr-09Jul-0

9Oct-0

9Jan-10

Apr-10Jul-1

0Oct-1

0

BCI

BALTIC SUPMAX 2006 - 2010

3001300230033004300530063007300

Apr-06

Jul-06Oct-0

6Jan-07

Apr-07

Jul-07Oct-0

7Jan-08

Apr-08

Jul-08Oct-0

8Jan-09

Apr-09

Jul-09Oct-0

9Jan-10

Apr-10

Jul-10Oct-1

0

BSI

CAPITAL LINK MARITIME INDEX 2005-2010

400

1400

2400

3400

4400

5400

Oct-05Jan

-06Apr-0

6Jul-06

Oct-06Jan

-07Apr-0

7Jul-07

Oct-07Jan

-08Apr-0

8Jul-08

Oct-08Jan

-09Apr-0

9Jul-09

Oct-09Jan

-10Apr-1

0Jul-10

Oct-10

CL Maritime Index (CLMI)

CAPITAL LINK DRYBULK INDEX 2005-2010

400

1400

2400

3400

4400

5400

6400

7400

Oct-05Jan

-06Apr-0

6Jul-06

Oct-06

Jan-07

Apr-07

Jul-07Oct-0

7Jan

-08Apr-0

8Jul-08

Oct-08

Jan-09

Apr-09

Jul-09Oct-0

9Jan

-10Apr-1

0Jul-10

Oct-10

CL Drybulk Index (CLDBI)

CAPITAL LINK CONTAINER INDEX 2005-2010

400

1400

2400

3400

4400

5400

Oct-05Jan

-06Apr-0

6Jul-06

Oct-06Jan

-07Apr-0

7Jul-07

Oct-07Jan

-08Apr-0

8Jul-08

Oct-08Jan

-09Apr-0

9Jul-09

Oct-09Jan

-10Apr-1

0Jul-10

Oct-10

CL Container Index (CLCI)

CAPITAL LINK MLP INDEX 2005-2010

400

1400

2400

3400

4400

Oct-05Jan

-06Apr-0

6Jul-06

Oct-06

Jan-07

Apr-07

Jul-07Oct-0

7Jan

-08Apr-0

8Jul-08

Oct-08

Jan-09

Apr-09

Jul-09Oct-0

9Jan

-10Apr-1

0Jul-10

Oct-10

CL MLP Index (CLMLP)




DATE CLEAN % frm 2/1/10 DIRTY % frm 2/1/10

30/09/2010 518 ‐24% 557 ‐33%

01/10/2010 515 ‐24% 553 ‐33%

04/10/2010 515 ‐24% 547 ‐33%

05/10/2010 511 ‐25% 540 ‐33%

06/10/2010 508 ‐25% 537 ‐30%

07/10/2010 506 ‐24% 540 ‐27%

08/10/2010 504 ‐24% 546 ‐26%

11/10/2010 499 ‐24% 551 ‐26%

12/10/2010 493 ‐24% 560 ‐26%

13/10/2010 488 ‐24% 558 ‐28%

14/10/2010 484 ‐24% 567 ‐29%

15/10/2010 481 ‐24% 568 ‐29%

18/10/2010 477 ‐24% 564 ‐29%

19/10/2010 475 ‐23% 566 ‐29%

20/10/2010 472 ‐23% 580 ‐29%

21/10/2010 471 ‐23% 581 ‐28%

22/10/2010 467 ‐22% 580 ‐28%

25/10/2010 463 ‐22% 579 ‐29%

26/10/2010 459 ‐22% 581 ‐28%

27/10/2010 456 ‐23% 592 ‐28%

28/10/2010 452 ‐24% 595 ‐27%

29/10/2010 444 ‐23% 593 ‐26%

DISCLAIMER: All information & data contained in this report, has been carefully obtained from a variety of sources, as reported freely in the market. All necessary care has been taken in the collection, validation, production and editing of

this report, however, N. Cotzias Shipping Group and/or any of it's subsidiary companies makes no guarantee for accuracy & shall not be held liable for any loss incurred in any way whatsoever by any person, individual or company that

relies on the information contained herein. All data, info, charts, views and news contained in this report are property of NCS Group, but can be freely reproduced by any third party in any media, press, tv, radio, internet provided that

the source being NCS is clearly identified, labelled and respected.

BALTIC TANKER MARKET INDICES until 29th OCTOBER 2010

ALL CAPITAL LINK INDICES ARE USED WITH THE EXPRESS KIND PERMISSION OF CAPITAL LINK INC ‐ NEW YORK

ALL BALTIC WET Indices 2005-2010

300

800

1300

1800

2300

Oct-05

Jan-06

Apr-06

Jul-06Oct-0

6Jan

-07Apr-0

7Jul-07

Oct-07

Jan-08

Apr-08

Jul-08Oct-0

8Jan

-09Apr-0

9Jul-09

Oct-09

Jan-10

Apr-10

Jul-10Oct-1

0

BCTI

BDTI

BALTIC DIRTY TANKER INDEX 2005 - 2010

400

900

1400

1900

2400

Oct-05Jan-06

Apr-06Jul-0

6Oct-0

6Jan-07

Apr-07Jul-0

7Oct-0

7Jan-08

Apr-08Jul-0

8Oct-0

8Jan-09

Apr-09Jul-0

9Oct-0

9Jan-10

Apr-10Jul-1

0Oct-1

0

BDTI

BALTIC CLEAN TANKER INDEX 2005 - 2010

300

700

1100

1500

1900

Oct-05Jan-06

Apr-06Jul-0

6Oct-0

6Jan-07

Apr-07Jul-0

7Oct-0

7Jan-08

Apr-08Jul-0

8Oct-0

8Jan-09

Apr-09Jul-0

9Oct-0

9Jan-10

Apr-10Jul-1

0Oct-1

0

BCTI

Brent OIL (2001 - 2010)

162636465666768696

106116126136146

Oct-0

1

Jan-

02

Apr-0

2

Jul-0

2

Oct-0

2

Jan-

03

Apr-0

3

Jul-0

3

Oct-0

3

Jan-

04

Apr-0

4

Jul-0

4

Oct-0

4

Jan-

05

Apr-0

5

Jul-0

5

Oct-0

5

Jan-

06

Apr-0

6

Jul-0

6

Oct-0

6

Jan-

07

Apr-0

7

Jul-0

7

Oct-0

7

Jan-

08

Apr-0

8

Jul-0

8

Oct-0

8

Jan-

09

Apr-0

9

Jul-0

9

Oct-0

9

Jan-

10

Apr-1

0

Jul-1

0

Oct-1

0

Brent Oil

ALL CAPITAL LINK WET Indices 2005-2010

400

1400

2400

3400

4400

5400

Oct-05

Jan-06

Apr-06

Jul-06Oct-0

6Jan

-07Apr-0

7Jul-07

Oct-07

Jan-08

Apr-08

Jul-08Oct-0

8Jan

-09Apr-0

9Jul-09

Oct-09

Jan-10

Apr-10

Jul-10Oct-1

0

CL Tanker Index (CLTI)

CL LNG/LPG Index (CLLG)

CAPITAL LINK TANKER INDEX 2005-2010

400.00

1400.00

2400.00

3400.00

4400.00

5400.00

Oct-05Jan

-06Apr-0

6Jul-06

Oct-06Jan

-07Apr-0

7Jul-07

Oct-07Jan

-08Apr-0

8Jul-08

Oct-08Jan

-09Apr-0

9Jul-09

Oct-09Jan

-10Apr-1

0Jul-10

Oct-10

CL Tanker Index (CLTI)

CAPITAL LINK LNG/LPG INDEX 2005-2010

400.00

800.00

1200.00

1600.00

2000.00

2400.00

2800.00

3200.00

Oct-05Jan

-06Apr-0

6Jul-06

Oct-06Jan

-07Apr-0

7Jul-07

Oct-07Jan

-08Apr-0

8Jul-08

Oct-08Jan

-09Apr-0

9Jul-09

Oct-09Jan

-10Apr-1

0Jul-10

Oct-10

CL LNG/LPG Index (CLLG)

WTI SPOT PRICE (2001 - 2010)

162636465666768696

106116126136146

Oct-0

1

Jan-

02

Apr-0

2

Jul-0

2

Oct-0

2

Jan-

03

Apr-0

3

Jul-0

3

Oct-0

3

Jan-

04

Apr-0

4

Jul-0

4

Oct-0

4

Jan-

05

Apr-0

5

Jul-0

5

Oct-0

5

Jan-

06

Apr-0

6

Jul-0

6

Oct-0

6

Jan-

07

Apr-0

7

Jul-0

7

Oct-0

7

Jan-

08

Apr-0

8

Jul-0

8

Oct-0

8

Jan-

09

Apr-0

9

Jul-0

9

Oct-0

9

Jan-

10

Apr-1

0

Jul-1

0

Oct-1

0

WTI Spot Price



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