S&P MONTHLY REPORT JUNE 2010 -...

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

Ship sale volume: Jun-10 May-1099 117 last month

81 72 last month

18 45 last month

Scrap volume:

96 95 last month

$486/LDT INDIA

Newbuilding Ships Prices 28/06/2010 (in mil USD)Dry Cargo CAPE 26/6/2009 PMX 26/6/2009 HMAX 26/6/2009

NEWBUILDING $73.0 $65.0 $43.8 $65.0 $36.0 $65.0Tanker Ships VLCC 26/6/2009 SUZ 26/6/2009 AFR 26/6/2009

NEWBUILDING $104.0 $109.0 $71.0 $77.0 $57.0 $52.5PAN 26/6/2009 PROD 26/6/2009

$45.0 $47.0 $36.0 $39.5Average Dry cargo T/C Earnings (worldwide routes):

Jun-10 May-10 Apr-10 Mar-10$37,854 $44,871 $34,622 $33,365$26,000 $35,117 $31,982 $32,650$27,220 $34,270 $31,330 $31,816$25,743 $32,556 $29,071 $31,358$23,263 $34,654 $29,022 $29,010$17,000 $22,854 $21,421 $20,896$17,521 $20,655 $18,073 $19,896

Scrap Prices for JUNE 2010

CHINA HIGH $450 AVERAGE $380 JUNE 2010 AVERAGE $408 INDIA HIGH $486 AVERAGE $367 MAY 2010 AVERAGE $369

BANGLADESH HIGH $410 AVERAGE $410 APR 2010 AVERAGE $442 PAKISTAN HIGH $405 AVERAGE $382 MAR 2010 AVERAGE $370

TURKEY HIGH $205 AVERAGE $205 FEB 2010 AVERAGE $345 BALTIC INDICES 30-Jun-10 31-May-10 30-Apr-10 31-Mar-10

2406 -41.00% 4078 3354 29982711 -48.04% 5217 3936 34252748 -35.30% 4247 3900 36742066 -30.72% 2982 2715 24311155 -21.80% 1477 1356 1375785 15.44% 680 733 708855 -11.12% 962 996 964

COMMENTS:

The world economy with its upswings, downturns and volatility has been engaged in an exact similar manner in the Dry Bulk shipping markets. Price agreements between iron/ore

exporters/producers and importers are there and since July 1st China will have to agree to more expensive price per ton, for the imported iron/ore. So China has clearly opted to

alter the quantities imported and shipped into China, by choosing to consume domestically produced iron/ore instead. Falling commodity prices have also affected the shipping

markets. Traders choose to postpone commodity quantity purchases as the falling commodity price in itself dictates that if you don't need it right now... leave it for later as you will

buy it cheaper... and by creating an "artificial scarcity" in the freight market by putting practically "no cargoes" out there, they will also reduce their subsequent transportation

costs.... clever hehh??? Yes, and who ever says that we will see an "owner's market" again is wrong... it is CHARTERERS MARKET and it will be for a long time...!!!

Baltic Handymax Index

Baltic Cape Index

Total number of Ships sold this month:

Executive Summary

Dry cargo Ships sold this month:

Handies 40,000 – 30,000 dwt: Small Bulkers 30,000 – 12,000 dwt:

Post Panamax 132,000 – 90,000 dwt:Panamax 89,000 – 59,000 dwt: Supramax 59,000 – 48,000 dwt:Handymax 48,000 – 40,000 dwt:

Baltic Supramax Index

S&P MONTHLY REPORT

Baltic Dirty Tanker Index

Wet cargo Ships sold this month:

Ships scrapped this month:

Baltic Panamax Index

JUNE 2010

GENERAL SCRAP PRICE AVERAGE

Highest Scrap Price paid this month:

Baltic Clean Tanker Index

Capes >134,000 dwt:

Baltic Dry Index

% change since LAST MONTH

What a month looking at it from the Greek side! Greek interests have spent 1.5bilion for 45 ships acquired this month. Looking into the first semester Jan‐Jun 2010 Greek intersts

have purchased 166 units (dry and wet) and Chinese have got 135 (dry and wet). Greeks have spent in excess of $5.5billion USD whereas the Chinese have invested $2.2billion usd.

The Greek fleet has increased by 11.7million dwt carrying capacity while the Chinese acquisitions have given them 9.5million extra deadweight.

Ships prices in the dry bulk market are still very high. Despite a 6 week constant fall in the dry bulk indices and rates, despite most ships looking for cargoes that are just not there,

we still see very expensive prices that compared with one year ago are up by 15‐35% (according to age and size). What is strange enough is that the prices have not fallen a single

cent.!! Why? is it the volatility that has increased in the freight markets, that is keepin everyone comfortable that what ever downhill we may be experiencing right now, will be

shortlived and will be offset soon by an equivalent if not larger and more rapid increase in the freight market that will eventually lead to once more higher ship prices? Well that

could be everyone's wishfull thinking scenario, but in practical and realistic terms could not be applied. Why? because as we mentioned last month, there was an anomally in high

freight rates, a booming shipping industry and the world economy still collecting its pieces. How could we have a healthy shipping market, when the world economic fundamentals

still suffered?

In the sale and purchase market we pesently we see that most investors decide to keep a wait and see stance, trying to convince themselves primarily when will be the right

moment to invest, and the only thing they will be looking closely is the secondhand ship prices... the speed and the amount these will "correct" ... that is the key

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

NAMEBUYERS NATION

NOTES IMO

HEBEI TIGER BC 1985 SUMITOMO H I 179,836 $13.00mWINNING SHIPPING

CHINASELLERS ARE HEBEI

OCEAN SHIPPING CHINA. SOLD WITH SS/DD DUE

8406078

GOLDEN FUTURE BC 2010JINHAI HEAVY

IND175,861 $72.00m

KNIGHTSBRISGE TANKERS

LTDNORWAY

SELLERS ARE BSM SCHULTE SINGAPORE. 3YEARS T/C @ $33,000

PER DAY

9443607

CHINA FORTUNE BC 1992 CSBC 152,011 $20.80mCHINESE BUYERS

CHINASELLERS ARE CHINESE MARITIME TRANSPORT

CHINESE TAIPEI9035797

ZHUSHUI 2 BC 1991 HYUNDAI 150,149 $19.70mUNDISCLOSE

D BUYERS-

SELLERS ARE Seroja/Zhushi JV CHINA 8907905

GLORY SINGAPORE

BC 1987 ASTANO S.A. 148,982 STR. ORE. $15.00mCHINESE BUYERS

CHINA

SELLERS ARE SEA STARS SHIP

MANAGEMENT CHINA. SS/DD passed

8224652

GRAND SPARTOUNTA

BC 1989FINCANTIERI

BREDA135,965 8521191

GRAND MARKELA BC 1990HITACHI ZOSEN

71,749 8811792

GRAND ESMERALDA

BC 1990 NKK CORP 69,458 8920062

SPP TONGYEONG H4023

BC 2011 SPP 35,000 4X30T 9498432

SPP TONGYEONG H4029

BC 2012 SPP 35,000 4X30T 9498626

SEA EMPIRE BC 2010JIANGSU EASTERN

80,000 $41.12mGREEK

BUYERSGREECE

SELLERS ARE EASTERN MEDIA INTERNATIONAL, CHINESE TAIPEI. SOLD

WITH EXISTING BB CHARTER@$14250 - FOR

5 YEARS

9431537

CMB ITALIA BC 2005IMABARI

MARUGAME76,620 STR. HVY. $40.00m

BRIGHT NAVIGATION

GREECE

SELLERS ARE LAURUS SHIPMANAGEMENT KOREA. SOLD BASIS SS/DD PASSED DELY

OCT 2010

9325051

HERMES ISLAND BC 2000 MITSUI CHIBA 75,615 $34.85mCHINESE BUYERS

CHINASELLERS ARE WORLD

MARINE CO LTD, JAPAN 9189213

MP PANAMAX 2 BC 1985 ISHIBRAS 75,426 5X25T $11.00mUNDISCLOSE

D BUYERS-

SELLERS ARE M PALLONJI SHIPPING PVT 8124280

TRENTON BC 1995FINCANTIERI R.TRIGOSO

75,265 $26.10mRUSSIAN BUYERS

RUSSIASELLERS ARE CARDIFF MARINE INC GREECE 9083524

YK SENTOSA BC 2000HASHIHAMA

TADOSU73,625 4X30T $32.60m

MALAYSIAN BUYERS

MALAYSIA

SELLERS ARE YANO KAIUN CO LTD JAPAN. SOLD BASIS DELIVERY

AUG 2010 TC FREE

9202807

BEILUN SEAL BC 1997TSUNEISHI

CEBU 69,614 STR. HVY. $28.80m

CHINESE BUYERS

CHINASELLERS ARE TOSCO

KEYMAX CHINA 9140554

TEO BC 2010 QINGSHAN 57,015 C 4/30 $34.50mCHINESE BUYERS

CHINASELLERS ARE MEADWAY

SHIPPING GREECE 9424857

JUNEDRY CARGO SHIPS SOLD DURING THIS MONTH

$148.00mNEWLEAD HOLDINGS

GREECE

SOLD ENBLOC GRAND SPARTOUNTA, GRAND

MARKELA, GRAND ESMERALDA, SPP

TONGYEONG H4023, AND SPP TONGYEONG H4029 TO NEWLEAD HOLDINGS

FOR $148M FOR ALL 5 UNITS. SELLERS ARE

GRAND UNION GREECE. SOLD WITHGRAND ESMERALDA T/C ATTACHED AT

$10,200/DAY PLUS 50/50% PROFIT SHARING

UNTIL DECEMBER 2011/APRIL 2012, AND

GRAND EMARKELA T/C ATTACHED AT

$21,972/DAY UNTIL FEBRUARY-JUNE 2012, FOR THE HANDIES T/C

ATTACHED FOR 12 YEARS (+/- 4 MONTHS) AT$12,000/DAY BASE RATE AND PROFIT SHARING




MAJOR BC 2009YANGZHOU

DAYANG SHIPBUILDING

58,000 STR. HVY. 9490624

TABOR BC 2009YANGZHOU

DAYANG SHIPBUILDING

58,000 STR. HVY. 9490636

MOLITOR BC 2009YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. 9557123

STENTOR BC 2010YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. 9557135

SEFOR BC 2010YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. 9490662

TENOR BC 2010YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. 9490686

MATADOR BC 2010YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. 9490698

PEARLOR BC 2010YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. 9511832

YANGZHOU DAYANG SHIPBUILDING

RESALE1

BC 2011YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. -

YANGZHOU DAYANG SHIPBUILDING

RESALE2

BC 2011YANGZHOU

DAYANG SHIPBUILDING

58,000 4X30T CR. -

THERMIDOR BC 2007YANGZHOU

DAYANG SHIPBUILDING

53,500 4X35T CR. 9347877

NANTOR BC 2009YANGZHOU

DAYANG SHIPBUILDING

53,416 4X35T CR. 9474785

FRUCTIDOR BC 2009YANGZHOU

DAYANG SHIPBUILDING

53,416 4X35T CR. 9511820

ANGOR BC 2009YANGZHOU

DAYANG SHIPBUILDING

53,100 4X35T CR. 9347889

DALIOR BC 2005 NANTONG COSCO KHI 56,086 4X30T CR. 9301720

MESSIDOR BC 2004 NANTONG COSCO KHI 55,317 4X30T CR. 9316220

SUNRAY BC 2008JIANGSU

HANTONG SHIP 57,000 $36.00mGERMAN BUYERS

GERMANYPRIMEBULK

SHIPMANAGEMENT LTD 9408281

HYUNDAI MIPO 6076 RESALE

BC 2011HYUNDAI

MIPO 55,490

D'Alesio contract

$38.75mUNDISCLOSE

D BUYERS-

SELLERS ARE D'ALESIO ITALY 9491367

DELVINA BC 2007YANGZHOU

DAYANG53,629 4X35T $31.50m

UNDISCLOSED BUYERS

-SELLERS ARE MEADWAY

SHIPPING & TRADING INC, GREECE

9384796

SKY ANGEL BC 2001 SANOYAS 52,433 C 4/25 $28.80m ADM USASELLERS ARE RAINBOW

MARITIME CO LTD, JAPAN 9197662

BASIC ARROW BC 2001 IHI 48,907 4X30T $27.50mGREEK

BUYERSGREECE

SELLERS ARE MK SHIPMANAGEMENT CO LTD JAPAN. SOLD BASIS

DELIVERY OCT-DEC 2010

9226671

ELEOUSSA BC 1994HAKODATE

DOCK 44,950 4X25T CR. $21.70m REVOIL GREECE

SELLERS ARE THENAMARIS GREECE -

PURCHASE VIA ARISTON,SISTER CO TO REVOIL

SA

9071765

BARRA BC 1998 IHI 42,648 4X25T $22.20mGREEK

BUYERSGREECE

SELLERS ARE NAVIGESTION SAM,

MONACO. INCL A T/C TO COSBULK UNTIL 3/2012

AT $18000/DAY. OTHERS REPORT HER SOLD AT

$23m

9142992

FRISIA COTTBUS CONT 2010NORDSEEWE

RKE 42,250 3,426 TEU. $40.00m 9401178

FRISIA BRUSSEL CONT 2010NORDSEEWE

RKE 42,250 3,426 TEU. $40.00m 9401166

JOHN GR BC 1986HITACHI ZOSEN

41,938 4X25T CR. $11.00mUNDISCLOSE

D BUYERS-

SELLERS ARE WINDFORCE MARITIME

ENTERPRISES, GREECE. ss/dd due

8413186

DIANA SHIPPING

GREECE

SOLD ENBLOC FRISIA COTTBUS, FRISIA

BRUSSEL FOR $40MIL EACH UNIT.

NORDSEEWERKE HULL 559, AND

NORDSEEWERKE HULL 560. SELLERS ARE

HARTMANN SCHIFFAHRTS GMBH

GERMANY

$545.00mGENCO

SHIPPING AND TRADING

GREECE

ENBLOC MAJOR, TABOR, MOLITOR, STENTOR,

SEFOR, TENOR, MATADOR, DALIOR,

MESSIDOR, THERMIDOR, NANTOR, FRUCTIDOR,

ANGOR, PEARLOR, AND 2NB RESALE SUPRAMAX

FROM YANGZHOU DAYANG SHIPBUILDING

FOR $545MIL ALL 16 UNITS - SELLERS ARE

SETAF/SAGET/BOURBON




ARCADIA PROGRESS

BC 1982 CANECO S.A. 39,338 2X35T CR. $5.70mCHINESE BUYERS

CHINASELLER ARE ARCADIA

SHIPPING, INDIA 7914963

OCEAN SUCCESS BC 1987 IHI 38,455 4X25T $12.10mSYRIAN BUYERS

SYRIA

SELLERS ARE TRAMP MARITIME ENTERPRISES

GREECE. OTHERS REPORT HER SOLD AT

$13m

8407280

NAUTIC CONT 1996KVAERNER WARNOW

38,400 2890 TEU $17.00m TECHNOMAR GREECESELLERS ARE

INTERORIENT MARINE SERVICES CYPRUS

9122203

HANDY WIND BC 2009SPP

SHIPBUILDING 35,000 4X35T CR. 9450703

HANDY COVE BC 2010SPP


HANDY BAY BC 2010SPP


XIN DONG GUAN 6 BC 2008ZHOUSAN WUZHOU

33,075 C4X25T $22.50mUNDISCLOSE

D BUYERS- 9453561

BALTIC BREEZE BC 2010SPP


GENCO AVRA BC 2011SPP


GENCO MARE BC 2011SPP


GENCO SPIRIT BC 2011SPP


GENCO OCEAN BC 2010SPP


PORT STAR BC 2005HAKODATE

DOCK 31,921 4X30T $28.50m

GREEK BUYERS

GREECESELLERS ARE KOBE

SHIPPING CO LTD, JAPAN 9317755

SANTA ARABELLA CONT 2000 SAMSUNG 32,3912X45T,

1X35T,2500 TEU $24.50m 9203514

SANTA ADRIANA CONT 2000 SAMSUNG 32,3912X45T,

1X35T,2500 TEU $24.50m 9203538

SANTA ALEXANDRA CONT 2000 SAMSUNG HI 32,3912X45T,

1X35T,2500 TEU $24.50m 9203526

SANTA ANNABELLA CONT 2000 SAMSUNG 32,3082X45T,

1X35T,2500 TEU $24.50m 9203502

SANTA ALINA CONT 2001 SAMSUNG 32,2992X45T,

1X35T,2500 TEU $24.50m 9209104

ROYAL FOREST BC 1998 MITSUBISHI 31,770 4X30T $21.00mUNDISCLOSE

D BUYERS

SELLERS ARE MC SHIPPING, JAPAN.

AUCTION SALE9178551

FADELSIA BC 2000SAIKI

JUKOGYO31,651 4X30T $25.00m

EUROPEAN BUYERS

EUROPE

SELLERS ARE MEADWAY SHIPPING & TRADING INC, GREECE. SOLD

BASIS DELIVERY IN Q4 2010

9217618

PAGONA H BC 1987HASHIHAMA

TADOSU30,898 4X25T $7.60m

TURKISH BUYERS

TURKEYSELLERS ARE NEWPORT

SHIPMANAGEMENT GREECE

8313386

GREECE

SOLD ENBLOC SANTA ALINA, SANTA ANABELLA, SANTA ARABELLA, SANTA

ADRIANA AND SANTA ALEXANDRA FOR $24.5m EACH TO TECHNOMAR GREECE. SELLERS ARE

REEDEREI CLAUS-PETER OFFEN

GENCO SHIPPING

AND TRADING$166.30m GREECE

ENBLOC N/B RESALE HULL H4009 (GENCO OCEAN) N/B RESALE HULL H4011 (BALTIC

BREEZE) N/B RESALE HULL H4015 (GENCO

AVRA) N/B RESALE HULL H4016 (GENCO MARE)

N/B RESALE HULL H4019 (GENCO SPIRIT) FOR 166.3MIL USD ALL 5

UNITS

TECHNOMAR SHIPPING

$99.80mBALTIC

TRADINGGREECE

ENBLOC HANDY WIND HANDY COVE, HANDY BAY, FOR $99.8MIL TO

BALTIC TRADING - SELLERS ARE

METROSTAR GREECE - ALL 3 UNITS HAVE T/C

ATTACHED TO CARGILL




WUHU XINLIAN NEWBUILDING

RESALEBC 2010

WUHU XINLIAN

30,000 4X30T P&C DEALUNDISCLOSE

D BUYERS-

SELLERS ARE INTERSEE SCHIFFAHRTS-GMBH,

GERMANY-

EMMANUELA BC 1997 HUDONG 29,321 C4X30T $18.00mUNDISCLOSE

D BUYERS-

SELLERS ARE CAPITAL SHIP MANAGEMENT

CORP GREECE9129378

GREAT CHANCE BC 2004 SHIN KOCHI 28,701 4X30.5T $26.20mGREEK

BUYERSGREECE

SELLERS ARE SANDIGANSHIP SERVICES

PHILIPPINES. SOLD BASISDELIVERY JUNE-OCT

2010

9282778

HANSA SONDERBURG

CONT 2000BINJIANG

SHIPYARD23,577 1740 TEU $15.20m

UNDISCLOSED BUYERS

SELLERS ARE LEONHARDT &

BLUMBERG GERMANY9155389

SAVANNAH BELLE BC 1982 IHI 22,5585X25T, 402

TEU$2.85m

SINGAPORE BASED

BUYERSSINGAPORE

SELLERS ARE ROYMAR SHIP MANAGEMENT USA 8105753

MSC ARABIA CONT 1972 MITSUI SB 21,834 978 TEU. UNDISCLOSE

D BUYERS-

SELLERS ARE GOLDENPORT HOLDINGS

INC, GREECE. 7121671

OCEAN LUCK MPP 1983VALMET OY-

HELSINKI19,943

2X40T, 3X20T, 576

TEU$6.20m

UNDISCLOSED BUYERS

SELLERS ARE KAALBYE SHIPPING UKRAINE 8013065

IBN HAZM CONT 2005 AKER TULCEA 13,951 1120 TEU $13.20mFAR EAST BUYERS

FAREAST

SELLERS ARE INTERORIENT MARINE SERVICES CYPRUS -

WAS ALSO REPORTED AS SOLD FOR $14MIL LATE LAST MONTH

9319569

CAPE HATTERAS CONT 1992 MTW 12,854D2X40T, 923

TEU$2.90m

DANISH BUYERS

DENMARKSELLERS ARE DS

SCHIFFAHRT GMBH & CO, GERMANY

9004205

SERAP K CONT 2007SEDEF GEMI

END. 12,500 1,061 TEU. $18.00m 9366457

SELMA KALKAVAN CONT 2008SEDEF GEMI

END. 12,500 1,061 TEU. $18.00m 9366495

MEKONG SPIRIT CONT 1996SZCZECINSKA

STOCZNIA 12,3802X40T, 1042

TEU$7.40m

ITALIAN BUYERS

ITALYSELLERS ARE LUMAR

SHIPMANAGEMENT LATVIA

9118513

SIAM EMERALD BC 1999SHIN

KURUSHIMA 10,122

2X30T, D1X25T

$8.20mTAIWANESE

BUYERSTAIWAN

SELLERS ARE SEIWA NAVGATION CORP,

JAPAN9191577

MARIANO LAURO MPP 2006ANADOLU

TUZLA7,100 3X25T $4.80m

COLOMBIAN BUYERS

COLOMBIASELLERS ARE

PENINSULA ENTERPRISE SPA, ITALY

9331804

ALLEGRO MPP 2002 ZALIV 5,916 325 TEU $5.50m SANDFRAKT NORWAYSELLERS ARE Q-

SHIPPING BV NETHERLANDS

9247118

CONDOR VITESSE RORO 1997INCAT

TASMANIA PTY LTD

350 754 PASS $9.00m UK BUYERS UKSELLERS ARE CONDOR MARINE SERVICES UK 9151008

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

GERMAN BUYERS

GERMANY

SOLD ENBLOC SERAP K. SELMA KALKAVAN FOR

$18MIL EACH UNIT - SELLERS ARE KALKAVAN

K. TURKEY




DRY CARGO 2ND HAND MARKET STATISTICS

country units %

2010 UNITS OUTLAY$ DWT GREECE 101 18.26%

JANUARY 86 $1,331.34m 4,032,764 GERMANY 68 12.30%

FEBRUARY 82 $1,383.07m 3,896,685 CHINA 65 11.75%

MARCH 161 $3,532.12m 7,367,241 JAPAN 49 8.86%

APRIL 71 $1,087.61m 3,404,042 FRANCE 31 5.61%

MAY 72 $1,104.90m 3,048,860 SINGAPORE 24 4.34%

JUNE 81 $2,030.11m 4,103,114 TURKEY 18 3.25%

JULY 0 $0.00m 0 ITALY 15 2.71%

AUGUST 0 $0.00m 0 NORWAY 14 2.53%

SEPTEMBER 0 $0.00m 0 DENMARK 13 2.35%

OCTOBER 0 $0.00m 0 KOREA 12 2.17%

NOVEMBER 0 $0.00m 0 CYPRUS 11 1.99%

DECEMBER 0 $0.00m 0 UK 10 1.81%

TOTAL 553 $10,469.15m 25,852,706 RUSSIA 9 1.63%

THAILAND 8 1.45%

VIETNAM 7 1.27%

COUNTRY UNITS % OUTLAY ($) % DWT % USA 10 1.81%

GREECE 134 24.23% $3,465 33.10% 7,295,203 28.22% PHILIPPINES 7 1.27%

CHINA 124 22.42% $1,963 18.75% 8,513,047 32.93% ALL OTHER 66 11.93%

TURKEY 25 4.52% $206 1.97% 469,319 1.82% UNDISCL 15 2.71%

USA 23 4.16% $1,317 12.58% 586,455 2.27% TOTAL 553 100.00%

NORWAY 19 3.44% $522 4.98% 981,527 3.80%

GERMANY 16 2.89% $182 1.73% 452,425 1.75%

RUSSIA 11 1.99% $152 1.45% 271,114 1.05%

INDIA 9 1.63% $225 2.15% 552,759 2.14%

INDONESIA 9 1.63% $78 0.75% 280,659 1.09%

KOREA 8 1.45% $164 1.57% 343,060 1.33%

VIETNAM 7 1.27% $61 0.58% 148,752 0.58%

ISRAEL 6 1.08% $115 1.09% 412,747 1.60%

FAREAST 6 1.08% $89 0.85% 319,621 1.24%

SYRIA 5 0.90% $30 0.29% 124,085 0.48%

UNDISCL 87 15.73% $1,092 10.43% 3,052,957 11.81%

ALLOTHER 64 11.57% $840 8.03% 2,173,061 8.41%

TOTAL 553 100.00% $10,469 100.00% 25,852,706 100.00%

2010 BC SD CONT MPP TWEEN REEFER PASS RORO OTHER TOTAL

JANUARY 61 0 15 3 0 1 0 5 1 86

FEBRUARY 59 0 3 9 0 0 0 4 7 82

MARCH 89 0 35 14 0 3 0 4 16 161

APRIL 47 0 12 6 1 0 0 5 0 71

MAY 43 0 19 8 0 0 0 1 1 72

JUNE 62 0 15 3 0 0 0 1 0 81

JULY 0 0 0 0 0 0 0 0 0 0

AUGUST 0 0 0 0 0 0 0 0 0 0

SEPTEMBER 0 0 0 0 0 0 0 0 0 0

OCTOBER 0 0 0 0 0 0 0 0 0 0

NOVEMBER 0 0 0 0 0 0 0 0 0 0

DECEMBER 0 0 0 0 0 0 0 0 0 0

TOTAL 361 0 99 43 1 4 0 20 25 553

SELLERS - Greek sellers are increasing the lead in the sale stats table. Greeks are 1st with 101 units (77 last)

while German sellers are 2nd with 68 units (57 last), Chinese sellers 3rd with 65 untis (58 last) and Japanes sellers 4th with 49 units (42 last). French sellers mainly due to Bourbon hasve leapt to 5th place with 31 units,

pushing Singapore sellers 6th with 24 ships.

June 2010, a weird month. Freight levels have decreased by 45% while ship prices have held strong. The ongoing

ship sale activity was strong, and it is worth noting that the Greek buyers were the ones that dominated the market as

they have spent more than $1.35bilion usd for 43 ship purchases in June 2010 alone. Greeks have spent

3.55bilion usd in these first six months, and have acquired 134 ships. We are curious to see how the market will

behave following the near crash we are experienceing in the freight market. Will ship prices follow the collapse in the indices, will ship prices become more realistic and pose some good investment opportunities for the cash

investor? Will good deals enter in to the dry bulk secondhand market? We are waiting anxiously to see how long will the suppresed freights last and how quickly prices

will readjust.

MONTHLY UNIT SALE ACTIVITY

2010 DRY CARGO STATISTICS - BUYERS

BUYERS - Do you notice something odd in the table on the left????? YES!!! Greek buyers have overpassed the Chinese!!! Fro the first time since April 2009 when the

tables had turned in China's favour. It is interstign to note that up until last month, China was leading with 117

purchases as opposed to 89 for the Greeks. Today closing the first semester fo 2010, Greece has acquired 134 units

(90 last) and are topping the table while China has acquired 124 units (117 last) and are 2nd. Off course if it

wasn't for Peter Georgiopoulos it would have still been the usual Chinese dominance scenario, but thanks to his 24

units plus 6 for Technomar and 5 for Newlead Greece has performed a record number of Dry bulk purchases of 44

units in one month only, and that has never been seen in the past.

DRY CARGO UNITS SOLD - BREAKDOWN PER MONTH 2010

SELLERS STATS 2010




CHANGE CHANGE

FR0M 26/6/09 FR0M 26/6/09

NB CAPE $96.3 $65.0 $73.0 12% 5y CAPE $149.5 $52.0 $60.0 15%

NB PMX $55.6 $40.5 $43.8 8% 5y PMX $84.0 $34.0 $39.0 15%

NB HANDY $48.1 $32.0 $36.0 13% 5y HANDY $72.0 $27.1 $29.5 9%

CHANGE CHANGE

FR0M 26/6/09 FR0M 26/6/09

10y CAPE $131.0 $41.0 $44.0 7% 20y CAPE $83.0 $20.0 $19.2 -4%

10y PMX $75.0 $25.2 $31.0 23% 20y PMX $49.3 $11.2 $16.7 49%

10y HANDY $61.8 $20.0 $25.3 27% 20y HANDY $41.0 $9.8 $12.8 31%

In the table on the top we see monthly number of dry cargo ships sold as of JUNE 2010, compared to 2009's monthly activity.

In the table on the top we see the MONTHLY dry cargo capital expenditure for JUNE 2010 compared to 2009's monthly activity.

TYPE 26/06/2008

TYPE

28/06/2010

28/06/201026/06/200926/06/2008

TYPE 26/06/2009

28/06/2010

1990 built (20Y) OLD BULKERS PRICE COMPARISON

26/06/2009


NB BULKERS PRICE COMPARISON

28/06/2010

26/06/2008

26/06/2009


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

TYPE

26/06/2008

Dry cargo units sold 2010 vs 2009

59

72

100

75

109 108

71

104 100

80

161

93

52

8682

7172

81

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

$681$1,018

$913$739

$1,350$1,123

$710

$1,528

$1,083$1,189

$1,105

$3,532

$1,088

$1,331$1,383

$2,030

$150m

$650m

$1,150m

$1,650m

$2,150m

$2,650m

$3,150m

$3,650m

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

2008 2009

DRY CARGO (2000 - 2010) NB vsl PRICES

$16

$31

$46

$61

$76

$91

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0

CAPE 170KPANAMAX 70KHANDY 50K

DRY CARGO (2000 - 2010) 5y OLD vsl PRICES

$10

$33

$55

$78

$100

$123

$145

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0



$8

$28

$48

$68

$88

$108

$128

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0

CAPE 170K

PANAMAX


$2

$15

$27

$40

$52

$65

$77

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0





2010NAME TYPE YEAR BUILT DWT PRICE

PRICE NOTE

BUYERS NAME

BUYERS NATION

NOTES IMO

BW HIBISCUS TANKER 1995DAEWOO

SHIPBUILDING 298,816 $44.50m EMPIRICOS GREECESELLERS ARE BW

MARITIME PTE LTD, SINGAPORE

9085364

TITAN CHIOS TANKER 1986 MITSUI CHIBA 239,783 $14.00mUNDISCLOSED

BUYERS-

SELLERS ARE TITAN OCEAN PTE LTD,

SINGAPORE8500147

POPI P TANKER 2005DAEWOO

SHIPBUILDING 159,966 $65.00m 9248409

LENI P TANKER 2007HYUNDAI SAMHO 159,233 $70.00m 9318072

SAMSUNG 1918 TANKER 2011 SAMSUNG 157,700 $75.00m 9578634

SAMSUNG 1919 TANKER 2011 SAMSUNG 157,700 $75.00m 9578646

MARE SALERNUM TANKER 2003 MITSUI TAMANO 110,673 $43.00mEGYPTIAN BUYERS

EGYPTSELLERS ARE FRATELLI

D'AMICO ITALY. 9260809

LIVIA TANKER 2003HYUNDAI SAMHO 105,889 $38.00m COILED

BRIGHT NAVIGATION

GREECE

SELLERS ARE REPSOL YPF, SPAIN - OTHER REP

SAYS $39.5MIL - ALSO REPORTED LAST MONTH

WITHOUT BUYERS ID

9261619

TAIYOH II TANKER 1991 HASHIHAMA 69,996 $6.80mCHINESE BUYERS

CHINASELLERS ARE EAGLE

MARITIME, JAPAN. 9156591

W.S. ENTERPRISE TANKER 1990 FINCANTIERI 42,086 P&C TERMSWEST AFRICAN

BUYERSWEST

AFRICA

SELLERS ARE WARM SEAS DEVELOPMENT

UAE8705735

AMOY TANKER 1992IMABARI

MARUGAME 41,490 P&C TERMSINDONESIAN

BUYERSINDONESIA

SELLERS ARE TANKER PACIFIC MANAGEMENT

SINGAPORE9040443

MAERSK JADE GAS 2006 KOREA 29,300 9292773

MAERSK JEWEL GAS 2006 KOREA 29,190 9292759

SAMHO GLOBAL TANKER 2010 SAMHO 17,560 $22.00mMIDDLE EAST

BUYERSMIDDLE

EAST

SELLERS ARE SAMHO SHIPPING CO LTD,

KOREA9380324

BOW WEST TANKER 2002FUKUOKA FUKUOKA 12,503 $11.50m

TURKISH BUYERS

TURKEYSELLERS IINO SERVICES

XO JAPAN 9263928

WOO LIM TANKER 2007 MIYOSHI 12,495 $16.50mUNDISCLOSED

BUYERS

SELLERS ARE WOO LIM SHIPPING KOREA. EX

SUNRISE ACACIA9414046

GAS JAYA GAS 1998 JAPAN 3,003 $7.10m SIAM GAS JAPANSELLERS ARE ARPENI PRATAMA OCEAN LINE

INDONESIA9179270

VASSILIOS III TANKER 1981 GREECE 1,769 $0.22mBYAR ALI

PETROLEUM TRADING

UAESELLERS ARE VASSILIKI I

SHIPPING GREECE 8327545

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

$90.00m

ENBLOC MAERSK

JADE, MAERSK

JEWEL FOR $90MIL BOTH

UNITS

UNDISCLOSED BUYERS

-

SOLD ENBLOC FOR ABT $90m FOR BOTH UNITS.

THE HIGH PRICE IS LINKED TO PERIOD CHARTERS AT FIRM

RATES THAT ARE INCLUDED IN THE DEAL.

ONE SHIP HAS BEEN FIXED TO KOCHI AT

$605000/M UNTIL JANUARY 2015 & THE

OTHER TO PETROBRAS AT $680000/M UNTIL AUG

2012. SELLERS ARE MAERSK TANKERS

DENMARK

SOLD ENBLOC POPI P, LENI P,

SAMSUNG 1919 AND SAMSUNG 1918 FOR

$285m FOR ALL 4 UNITS

TO PRINCIPAL MARITIME

PRINCIPAL MARITIME

USA

SOLD ENBLOC POPI P, LENI P, SAMSUNG 1919

AND SAMSUNG 1918 FOR $285m FOR ALL 4 UNITS TO PRINCIPAL MARITIME.

SELLERS ARE MARINE TRUST/CENTROFIN

GREECE

TANKER SHIPS SOLD DURING THIS MONTH JUNE




TANKER 2ND HAND MARKET STATISTICS

COUNTRY UNITS %

2010 UNITS OUTLAY$ DWT GREECE 43 18.94%

JANUARY 57 $1,096.58m 3,446,410 JAPAN 23 10.13%

FEBRUARY 33 $691.20m 2,470,891 SINGAPORE 21 9.25%

MARCH 37 $608.05m 2,798,832 TURKEY 18 7.93%

APRIL 37 $1,085.30m 2,768,206 CHINA 16 7.05%

MAY 45 $1,729.10m 5,133,688 GERMANY 14 6.17%

JUNE 18 $578.62m 1,649,152 KOREA 11 4.85%

JULY 0 $0.00m 0 UAE 10 4.41%

AUGUST 0 $0.00m 0 NORWAY 10 4.41%

SEPTEMBER 0 $0.00m 0 ITALY 8 3.52%

OCTOBER 0 $0.00m 0 USA 8 3.52%

NOVEMBER 0 $0.00m 0 CANADA 7 3.08%

DECEMBER 0 $0.00m 0 UK 7 3.08%

TOTAL 227 $5,788.84m 18,267,179 MALAYSIA 5 2.20%

CYPRUS 5 2.20%

LATVIA 3 1.32%

COUNTRY UNITS OUTLAY ($) % DWT % DENMARK 3 1.32%

GREECE 32 $1,689 29.18% 4,375,679 23.95% SWEDEN 2 0.88%

NORWAY 14 $487 8.41% 1,452,333 7.95% ALL OTHER 11 4.85%

USA 13 $743 12.84% 1,479,845 8.10% UNDISCL 2 0.88%

CHINA 11 $127 2.19% 959,952 5.26% TOTAL 227 100.00%

INDONESIA 11 $154 2.66% 529,500 2.90%

UAE 9 $278 4.80% 387,807 2.12%

BRAZIL 6 $133 2.29% 1,787,302 9.78%

DENMARK 6 $144 2.49% 238,766 1.31%

INDIA 6 $68 1.17% 294,867 1.61%

SINGAPORE 6 $103 1.77% 590,950 3.24%

GERMANY 5 $84 1.46% 96,416 0.53%

TURKEY 5 $95 1.63% 224,354 1.23%

UK 4 $20 0.35% 15,370 0.08%

UNDISCL 38 $568 9.81% 2,233,917 12.23%

ALL OTHER 61 $1,098 18.96% 3,600,121 19.71%

TOTAL 227 $5,789 100.00% 18,267,179 100.00%

2010VLCC & ULCC

SUEZMAXAFRAMAX

110KPANAMAX 70K PROD 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 2 4 0 3 18

JULY 0 0 0 0 0 0 0 0 0

AUGUST 0 0 0 0 0 0 0 0 0

SEPTEMBER 0 0 0 0 0 0 0 0 0

OCTOBER 0 0 0 0 0 0 0 0 0

NOVEMBER 0 0 0 0 0 0 0 0 0

DECEMBER 0 0 0 0 0 0 0 0 0

TOTAL 26 23 26 14 43 79 1 15 227

Tanker sales have gone down this month. It seems the bad news coming from the dry bulk market, the overall world economical instability and uncertainty has hit the tanker market too. Only 18 deals this month a number

that we had not seen since the lows of 2009. Some focus has been put on Newbuilding tanker orders as this month was rather active in securing some new

builds. After all the tanker market is not really suffering from the potential overcapacity/iversupply of ships. The present tanker orderbook does not exceed 18% of the current active fleet, so it is under the healthy threshold

that does not even sound a warning alarm.

TANKER UNITS SOLD - BREAKDOWN PER SIZE AND MONTH 2010

2010 TANKER buyer STATISTICS Japanese sellers are 2nd with 23 units, while

Singapore based sellers are 3rd with 21 ships, with Turkey 4th with 18 units

sold during the period Jan-Jun 2010.

SELLERS - The table on the RIGHT shows the nationality of the Sellers. Greek Sellers are in number

one position having sold 43 units (41 last).

SELLERS STATS 2010

MONTHLY UNIT SALE ACTIVITY

BUYERS - Greek buyers are always leading the tanker buyers league. They have acquired a total of 32units (31 last) of 4.2million DWT carrying capacity, and have forked out a massive $1.7million USD. Norwegian buyers strong in 2nd place with 14 units (14 last)

with USA buyers 3rd with 13 units and Chinese and Indonesia buyers sharing 4th place with 11 units each.




CHANGE CHANGE

FR0M 26/6/09 FR0M 26/6/09

VLCC $153.0 $109.0 $104.0 -5% VLCC $143.0 $76.0 $86.0 13%SUEZMAX $93.5 $77.0 $71.0 -8% SUEZMAX $96.0 $60.0 $61.0 2%AFRAMAX $77.0 $52.5 $57.0 9% AFRAMAX $73.0 $41.0 $44.0 7%PANAMAX $65.0 $47.0 $45.0 -4% PANAMAX $61.0 $37.0 $37.0 0%MR PROD $52.5 $39.5 $36.0 -9% MR PROD $51.8 $29.5 $26.5 -10%

CHANGE CHANGEFR0M 26/6/09 FR0M 26/6/09

VLCC $121.0 $59.0 $62.0 5% VLCC $38.0 $18.0 $16.2 -10%SUEZMAX $81.5 $43.0 $43.0 0% SUEZMAX $33.0 $15.0 $12.6 -16%AFRAMAX $59.0 $30.0 $31.0 3% AFRAMAX $22.0 $10.0 $8.8 -12%PANAMAX $50.0 $28.0 $20.0 -29% PANAMAX $20.0 $7.0 $6.8 -3%MR PROD $44.5 $23.5 $19.0 -19% MR PROD $15.8 $6.2 $4.5 -27%

26/06/2009

2005 built (5Y old) TANKERS PRICE COMPARISONNB TANKERS PRICE COMPARISON

TYPE 26/06/2008 28/06/2010

26/06/2008

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

shipsale activity in volume (number of ships sold per month 2010-2009)

TYPE

1990 built (20Y old) TANKERS PRICE COMPARISON

28/06/2010

TYPE28/06/2010

2000 built (10Y old) TANKERS PRICE COMPARISON

26/06/2008

28/06/201026/06/2008 26/06/2009TYPE

26/06/2009

26/06/2009

TANKER units sold 2010 vs 2009

37

18

35

45

16

57

3337

45

1619

1817

2216 21

2427

5

15

25

35

45

55

65

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

units2010 2009

NEWBUILDING TANKER PRICES 2000 - 2010

24

44

64

84

104

124

144

164

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0

VLCC 300K

SUEZ 150K

AFRA 110KPANAMAX 70K

PROD 45K

5 YEAR OLD TANKER PRICES 2000 - 2010

20

40

60

80

100

120

140

160

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


13

33

53

73

93

113

133

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


3

8

13

18

23

28

33

38

43

Jun-0

0

Dec-0

0

Jun-0

1

Dec-0

1

Jun-0

2

Dec-0

2

Jun-0

3

Dec-0

3

Jun-0

4

Dec-0

4

Jun-0

5

Dec-0

5

Jun-0

6

Dec-0

6

Jun-0

7

Dec-0

7

Jun-0

8

Dec-0

8

Jun-0

9

Dec-0

9

Jun-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K




NEWBUILDING ORDERS JUNE 2010UNITS TYPE TONNAGE YEAR PRICE3 BC 400,000 2013 116.0$ 2 BC 205,000 2013 60.0$ 4 BC 180,000 2011‐2012 60.0$ 1 BC 180,000 2012

2 BC 180,000 2012

2 BC 180,000 2012

5 BC 84,000 2011‐2012

2 BC 82,000 2012

2 BC 82,000 2012

2 BC 82,000 2012 35.5$ 5 BC 82,000 2011

2 BC 82,000 2012

2 BC 81,000 2011 38.0$ 4 BC 80,000 2012

1 BC 64,000 2012

1 BC 60,100 2012

8 BC 58,000 2012

1 BC 57,700 2012 28.5$ 4 BC 57,000 2011‐2012 29.0$ 2 BC 57,000 2011

1 BC 57,000 2011

6 BC 48,000 2012 46.4$ 4 BC 38,000 2012‐2013

2 BC 35,000 2012 24.5$ 1 BC 34,000 2012 24.5$ 4 BC 33,000 2011‐2012

2 BC 29,000 2011 30.0$ 1 CONT 31,000 2012

2 2011

4 MPP 24,000 2012 29.9$ 2 MPP 15,000 2011‐2012

4 MPP 8,500 2011‐2012 12.3$ 2 SP PROJECT 50,000 2012 100.0$ 4 TANKER LR1 2012‐2013

2 TANKER 318,000 2013 100.0$ 4 TANKER 160,000 2012‐2013 68.0$ 8 TANKER 160,000 2012‐2013 66.0$ 4 TANKER 158,000 2012 67.8$ 3 TANKER 158,000 2011 68.0$ 3 TANKER 156,000 2012 64.0$ 2 TANKER 156,000 2012

2 TANKER 74,000 2012 44.0$ Note1: With Red color are indicated all Greek interest Buyers or Sellers

2010 ORDERS UNITS BC MPP CONT TANKER LNG/LPG ALL OTHERJANUARY 35 68 42 0 0 12 6 8

FEBRUARY 39 75 35 0 0 18 4 18MARCH 44 121 71 0 5 29 3 13APRIL 18 49 32 0 0 16 1 0MAY 34 88 63 0 0 20 2 3JUNE 42 122 75 10 1 32 0 4JULY 0 0 0 0 0 0 0 0

AUGUST 0 0 0 0 0 0 0 0SEPTEMBER 0 0 0 0 0 0 0 0

OCTOBER 0 0 0 0 0 0 0 0NOVEMBER 0 0 0 0 0 0 0 0DECEMBER 0 0 0 0 0 0 0 0

TOTAL 212 523 318 10 6 127 16 46

DRY BULK ORDERS 2010CAPES 64 UNITS

KAMSARMAX 101 UNITSPANAMAX 26 UNITS

SUPRAMAX 43 UNITSHANDYMAX 22 UNITS

256 TOTALTANKER ORDERS 2010

VLCC 26 UNITSSUEZMAX 41 UNITSAFRAMAX 9 UNITS

LR 9 UNITSMR 8 UNITS

93 TOTAL

SUNGDONG

OPTION 4

VALE

ANGELICOUSSIS GROUP

SK SHIPPING

OPTION 2

WOODCHIP

WOODCHIP

POLISH STEAMSHIP

F. BERTLING

ATLANTIS SHIPMANAGEMENT

CANFORNAV

JIANGSU YANGZJIANG

GUANGZHOU LONGXUE

STX SHIPBUILDING

NYK LINE

GEDEN

BIBBY LINE

ULUSOY

COMMON PROGRESS

BAOSTEEL

GRIEG SHIPPING

DALIAN SHIPBUILDING

BALTIJIA

DALIAN SHIPBUILDING

SAMJIN

ZHOUSHAN ZHONGCHUAN

YANGZIJIANG

YANGFAN

SHADONG HUANGHAI

COSCO DALIAN

JIANGSU EASTERN

HYUNDAI MIPO

TIANJIN XINGANG

NEWBUILDING ORDERS BREAKDOWN by TYPE PER MONTH, for YEAR 2010

YANGFAN

SANOYAS

OSHIMA

HYUNDAI VINASHIN

JINGLING

BUYER’S NAMEYARD NOTES

BEAM OF 43M AND WILL BE

OPTION 2

BLUE OCEAN FUNDING

AET

CARISBROOKE SHIPPING

FAIRSTAR HEAVY TRANSPORT

TANKER PACIFIC

WUHU XINLIAN

HYUNDAI

SHANGHAI WAIGAOQIAO

OTHER REP SAYS $116.5MIL

OTHER REP SAYS $58MIL

COSCO DALIAN

NEW TIMES SHIPBUILDING

GUANGZHOU LONGXUE

WUHU XINLIAN

STX DALIAN

DAEWOO MANGALIA

SHANGHAI WAIGAOQIAO

HYUNDAI HI

HANJIN SUBIC BAY

DALIAN SHIPBUILDING

HYUNDAI SAMHO

WUHU XINLIAN

SAMSUNG HI

DAEWOO MANGALIA

SAMSUNG HI

SAMSUNG HI

BERTLING

GLEAMRAY

ANGELICOUSSIS GROUP

DIAMOND S

MITSUI OSK

FUJIAN OCEAN

F. BERTLING

JOHN C. HADJIPATERAS

(ARCHIPELAGO SHIPPING)

STX PAN OCEAN

U‐MING

HYUNDAI MERCHANT MARINE

ADANI SHIPPING

PST

TMT CO LTD

TANKER PACIFIC

JO TANKERS

RONGSHENG

HANJIN SUBIC BAY

A SUBSIDIARY OF DALIAN PORT

ENESEL

CARDIFF MARINE

WONTONG LOGISTICS CO

PACIFIC INTERNATIONAL LINES

SVITZER AS

PACIFIC INTERNATIONAL LINES

KOREAN BUYERS

OPTION 1 MORE

HARBOUR TUG 70 TON BOLLARD PULL

HEAVYLIFT SHIPS

NEW BUILDING ORDER TYPES FOR 2010

BC, 318, 61%

MPP, 10, 2%

CONT, 6, 1%

TANKER, 127, 24%

LNG/LPG, 16, 3%ALL OTHER, 46,

9%




2010NAME TYPE YEAR BUILT DWT LDT PRICE BREAKER IMO

KADRIAH I TANKER 1977BETHLEHEM

STEEL SP. 266,590 42,941 410$ BANGLADESH 7390076

MYRON C TANKER 1982MITSUI CHIBA

ICHIHARA 62,153 ‐ ‐ BANGLADESH 8009478

SEA‐LAND PERFORMANCE CONT 1985DAEWOO

SHIPBUILDING 58,869 ‐ ‐ CHINA 8212726

JAG PAVITRA TANKER 1985 ODENSE LINDO 50,600 10,137 390$ PAKISTAN 8321400

SMT ONE TANKER 1981AVONDALE NEW

ORLEAN45,880 ‐ ‐ INDIA 8638372

BOW PRIMA TANKER 1987HYUNDAI HEAVY

INDS ‐ U 45,655 11,222 ‐ CHINA 8420505

LANCE NAIK ALBERT EKKA

PVCTANKER 1985

HYUNDAI HEAVY

INDS ‐ U 45,473 10,389 363$ INDIA 8311209

CHAMPION LION TANKER 1985BOELWERF

TEMSE44,979 10,730 430$ INDIA 8308630

MSC RHONE CONT 1979MITSUBISHI

KOBE 44,281 14,580 ‐ INDIA 7900699

GETTYSBURG TANKER 1957 NEWPORT NEWS 41,529 ‐ AS IS 5107463

LT LLOYDIANA CONT 1989FINCANTIERI

MONFALCONE 40,197 16,980 400$ CHINA 8618437

SEATREASURE TANKER 1987KASADO

KUDAMATSU 37,623 8,330 405$ PAKISTAN 8312368

SEA‐LAND DEVELOPER CONT 1980MITSUBISHI

KOBE35,758 ‐ ‐ AS IS 7820904

SCOTTISH BARD TANKER 1990ULJANIK

BRODOGRADIL 35,367 9,500 ‐ ‐ 8810023

ERON TANKER 1975ERIKSBERGS

LINDHOLM33,950 8,380 486$ INDIA 7388748

GHAZI 1 TANKER 1976NAKSKOV

SKIBSVAERFT 33,715 8,258 388$ PAKISTAN 7358767

MSC PILAR CONT 1984 ATLANTIQUE CHS 31,975 13,169 363$ INDIA 8124400

TOURCOING CAR 1978MITSUBISHI

NAGASAKI 30,497 ‐ ‐ CHINA 7705946

ATHENA I CONT 1980ONOMICHI

DOCKYARD CO L 28,902 11,529 450$ CHINA 7900821

IRIS S BC 1976 SANOYAS 28,317 6,820 ‐ INDIA 7420857

MONICA BC 1978 AESA ‐ BILBAO 26,972 6,603 330$ INDIA 7634018

PERMAI VI CONT 1982HAKODATE DOCK

‐ MURORA 26,674 7,978 327$ INDIA 8100832

J. K. M. MUHIEDDINE BC 1980HYUNDAI HEAVY

INDS ‐ U 25,448 5,620 383$ INDIA 7917123

ROLAND DELMAS TANKER 1980KOMUNY

PARYSKI24,223 15,405 360$ PAKISTAN 7724291

ALTAY BC 1978MATHIAS‐

THESEN‐WERF 22,857 7,350 400$ CHINA 7818406

NOVIGRAD C BC 1978 IHI ‐ YOKOHAMA 22,614 5,798 378$ INDIA 7705518

BOW PIONEER TANKER 1982DAEWOO

SHIPBUILDING 22,548 7,734 390$ INDIA 7926289

ALYONA REEFER 1981VALMET OY ‐

HELSINK 22,447 15,053 394$ INDIA 7910668

THERESA VIII TANKER 1981UWAIIMA

ZOSENSHO22,294 5,949 ‐ INDIA 8105923

RIVER JAMAIMA TANKER 1979AESA PUERTO

REAL22,227 6,523 ‐ INDIA 7711634

REPORTED DEMOLITION DEALSNOTES

JUNE

VEGETABLE OIL TANKER SELLERS ARE SHIP

& SHORE SERVICES LTD NIGERIA

SELLERS ARE MSC SHIP MANAGEMENT

SWITZERLAND

VEHICLES CARRIER SELLERS ARE WILSHIP

NORWAY

SELLERS ARE FAL SHIPPING UAE

CONTAINER SHIP (FULLY CELLULAR) ‐

SELLERS ARE MOLLER AP DENMARK

PRODUCTS TANKER SELLERS ARE

MERCHANT MARINE MGMT GREECE

CHEMICAL TANKER SELLERS ARE MARIKA

INVESTMENTS LTD NIGERIA

CONTAINER SHIP (FULLY CELLULAR)

SELLERS ARE TECHNOMAR SHIPPING INC

GREECE

TO BE BROKEN UP USA SELLERS ARE

UNITED STATES GOVT USA



GREECE

FSO ‐ BASIS AS IS MALAYSIA SELLERS ARE

KIC OIL & GAS LTD ‐ MALAYSIA

CRUDE OIL TANKER SELLERS ARE STEEL

MOUNTAIN LTD CUBA

TO BE BROKEN UP SELLERS ARE MOLLER AP

DENMARK

GENERAL CARGO SHIP SELLERS ARE LIDER

DENIZCILIK LTD STI TURKEY

BULK CARRIER SELLERS ARE CANBAZ

DENIZCILIK VE NAKLIYAT TURKEY

SELLERS ARE SALHUS SHIPPING AS,

NORWAY.

SELLERS ARE THE GREAT EASTERN SHIPPING

CO, INDIA. AS IS FUJAIRAH

PRODUCTS TANKER SELLERS ARE STOLT‐

NIELSEN USA INC USA



GREECE

SELLERS ARE HALCYON SHIP MANAGEMENT

GREECE

CHEMICAL/PRODUCTS TANKER SELLERS

ARE ODFJELL MANAGEMENT AS NORWAY

PRODUCTS TANKER SELLERS ARE INDIA

GOVT

SELLERS ARE THOME SHIP MANAGEMENT,

SINGAPORE

SELLERS ARE IBAIZABAL MANAGEMENT CO,

SPAIN. BASIS DELIVERY AS IS BILBAO


SELLERS ARE JAYAKUSUMA PERDANA LINES

INDONESIA

BULK CARRIER SELLERS ARE ALAMAL

TRANSPORT SYRIA

SELLERS ARE SCAC DELMAS VIELJEUX,

FRANCE. AS IS KHOR FAKKAN

SELLERS ARE RAFFLES SHIPMANAGEMENT

SINGAPORE. CHEMICAL . BASIS DELIVERY

INDIA

SELLERS ARE VALIANT SHIPPING GREECE

SELLERS ARE EXPEDIA MARINE CO LTD,

NIGERIA. BASIS DELIVERY INDIA




MSC ARABIA CONT 1972MITSUI

FUJINAGATA 21,834 6,699 358$ INDIA 7121671

SIMA TINA CONT 1982 FLENSBURGER 20,758 7,008 255$ INDIA 8026036

WINNER 7 BC 1976MITSUBISHI

NAGASAKI 20,544 6,951 ‐ INDIA 7519397

GEORGIOS 1 MPP 1977 KOCHI JYUKO 18,784 4,428 340$ INDIA 7632565

ASDRUBAL TANKER 1982ORENSTEIN &

KOPPEL18,771 5,650 405$ INDIA 8108743

TAMREY BC 1976 NARASAKI ZOSEN 18,705 ‐ ‐ INDIA 7501261

WINNER I RORO 1978LENINA

STOCZNIA GDA 17,872 ‐ ‐ 7500841

BRIGHT DREAM MPP 1987WARNOWWERFT

WARNEMU 17,850 8,920 392$ INDIA 8715273

FORMOSA CONTAINER

NO.3CONT 1986 NEPTUN SCHIFFS 17,373 7,295 398$ CHINA 8407187

KULNATEE BC 1977 KOCHI JYUKO 16,615 4,129 342$ INDIA 7632541

MING ZHOU 2 BC 1977 KOCHI JYUKO 16,603 ‐ ‐ CHINA 7632539

BAHREGAN 9 TWEEN 1975WESER

SEEBECKWERFT 16,265 4,800 365$ PAKISTAN 7360772

SNOW CRYSTAL REEFER 1973LA CIOTAT

CIOTAT15,710 9,220 358$ INDIA 7321075

IRENE SD 1983KHERSONSKIY

SSZ 14,900 6,931 375$ INDIA 8225216

HUMBRIA RORO 1978OSKARSHAMNS

VARV 14,763 ‐ ‐ TURKEY 7430723

AMAR TWEEN 1980 CCN MAUA 14,650 5,867 330$ CHINA 7432903

URMIX BC 1980KHERSONSKIY

SSZ 14,550 5,615 357$ CHINA 7832983

LUDOGORETZ MPP 1968SETODA

ZOSENSHO KK13,470 4,168 363$ INDIA 6827670

STRAITS VENTURE CAR 1978TSUNEISHI

SHBLDG ‐ 11,179 8,785 ‐ INDIA 7718852

SEN HAI 1 BC 1980DALIAN

SHIPYARD CO 10,897 420$ CHINA 8226923

OEL RELAY CONT 1986VEROLME

HEUSDEN BV 10,832 3,520 283$ CHINA 8511433

TOR BELGIA RORO 1978DUNKERQUE‐

NORMANDIE 10,800 10,593 305$ INDIA 7624063

ORIONGAS GAS 1983 UNL ‐ VALENCIA 10,310 4,259 368$ INDIA 8012281

NEW ZEALAND STAR REEFER 1982KYOKUYO

CHOFU 8,657 5,034 ‐ INDIA 8118396

VOLVOX HOLLANDIA OTHER 1971VEROLME

HEUSDEN NV 8,630 ‐ ‐ INDIA 7031395

BRISTOL BAY REEFER 1984TOWA

SHIMONOS8,556 4,486 365$ INDIA 8313295

FOREST VENTURE OTHER 1977 KAGOSHIMA 8,453 5,430 ‐ INDIA 7618569

STOLT LILY TANKER 1988

SHIN

KURUSHIMA

IMABARI7,593 2,503 ‐ INDIA 8709743

STOLT AZALEA TANKER 1988

SHIN

KURUSHIMA

IMABARI7,582 2,514 ‐ INDIA 8709731

INOWROCLAW RORO 1980RAUMA‐REPOLA

OY ‐ R 7,203 6,357 390$ INDIA 7804053

ABDUL KADER F BC 1978SINGAPORE

SHIPBUILD 7,120 3,200 ‐ INDIA 7707372

NOVA GALICIA REEFER 1983TOWA

SHIMONOS6,730 4,199 368$ INDIA 8210986

TRAILING SUCTION HOPPER DREDGER

SELLERS ARE VAN OORD NV NETHERLANDS

SELLERS ARE ROSWELL NAVIGATION

GREECE

PALLETISED CARGO SHIP SELLERS ARE

LEMISSOLER SHIPPING GROUP PCL Cyprus

CHEMICAL TANKER ‐ SELLERS ARE STOLT

TANKER DENMARK

CHEMICAL TANKER ‐ SELLERS ARE STOLT

TANKER DENMARK

SELLERS ARE EUROAFRICA SHIPPING LINES,

POLAND

SELLERS ARE THIEN & HEYENGA

BEREEDERUNGS GERMANY

SELLERS ARE NAVIGATION MARITIME

BULGARE, BULGARIA

TO BE BROKEN UP SELLERS ARE NIPPON

YUSEN KAISHA JAPAN

BULK CARRIER SELLERS ARE CHINA

SHIPPING GROUP CO CHINA

SELLERS ARE DARAFSH SHIPPING LINE

CYPRUS

SELLERS ARE FORMOSA PLASTICS MARINE

CORP. CHINA

SELLERS ARE GREEN OCEAN SHIPPING,

IRAN. AS IS FUJAIRA REGION

SELLERS ARE HOLY HOUSE SHIPPING AB

SWEDEN

LPG TANKER SELLERS ARE SEABON

HOLDING GREECE

REFRIGERATED CARGO SHIP SELLERS ARE

CHARTWORLD SHIPPING CORP GREECE

SELLERS ARE SUDOSERVICE UKRAINE LTD

RO‐RO CARGO SHIP SELLERS ARE FEARNLEY

FINANS PROSJEKT AS NORWAY

RO‐RO CARGO SHIP ‐ SOK GEMI SOKUM

LTD SELLERS ARE CS & PARTNERS A/S

DENMARK

BROKEN UP SELLERS ARE T VE O DENIZCILIK

LTD STI TURKEY

RO‐RO CARGO SHIP SELLERS ARE ARGO

SYSTEMS FZE UAE

GENERAL CARGO SHIP (WITH RO‐RO

FACILITY) SELLERS ARE C& LINE CO LTD

KOREA

BULK CARRIER SELLERS ARE LEON TRADING

LTD UKRAINE

SELLERS ARE INTERCONTINENTAL

MARITIME SINGAPORE

BULK CARRIER SELLERS ARE GUNKUL

ENGINEERING CO LTD THAILAND

BROKEN UP SELLERS ARE NINGBO MARINE

GROUP CHINA

GENERAL CARGO SHIP SELLERS ARE

ALTOUN SHIPPING SYRIA

SELLERS ARE GABES MARINE TANKERS,

TUNISIA. AS IS MUMBAI

GENERAL CARGO SHIP SELLERS ARE

PRAYATI SHIPPING PVT LTD INDIA


SELLERS ARE GOLDENPORT

SHIPMANAGEMENT LTD GREECE


SELLERS ARE SIMATECH SHIPPING &

FORWARDING UAE




ASCO J SD 1975 ASAKAWA 6,200 ‐ ‐ TURKEY 7371501

PANORMUS TANKER 1975SOVIKNES VERFT

AS 5,984 2,260 205$ TURKEY 7382782

HECTOR TANKER 1980 HIGAKI 5,479 ‐ ‐ INDIA 7921306

CSO APACHE OTHER 1979TODD

GALVESTON 5,350 6,348 360$ INDIA 7723613

VEGA SD 1986 OKA NAVASHINO 5,020 3,070 380$ CHINA 8720981

UST‐ILIMSK TANKER 1981RAUMA‐REPOLA

OY ‐ R 4,969 ‐ ‐ ‐ 7923689

WINNER 11 CAR 1969EVANS DEAKIN &

CO P 4,510 ‐ ‐ ‐ 6909624

LONDON BRIDGE TANKER 1980MEYER

PAPENBURG4,400 3,342 400$ INDIA 7928641

JIN HAI TENG TANKER 1981FUKUOKA

SHIPBUILDING ‐ 4,259 ‐ ‐ CHINA 8021543

KEN RORO 1977ISHIKAWAJIMA

SHIP & CH 3,526 ‐ ‐ INDIA 7627950

AMALIA TANKER 1976 PESARO 3,051 ‐ ‐ TURKEY 7417496

THERESE SD 1972 MALTA DD 3,015 ‐ ‐ TURKEY 7206756

MUSTAFA SD 1970COCHRANE

SELBY 2,947 ‐ ‐ TURKEY 7005140

PAMISSOS OTHER 1977FERGUSON BROS

PG 2,936 ‐ ‐ TURKEY 7509108

ATLANTIDA PRIMERO OTHER 1960SMIT L.

KINDERDIJK 2,845 ‐ ‐ AS IS 5215894

AEOLIS BC 1978 HUELVA 2,619 ‐ ‐ TURKEY 7614525

EDRO II SD 1968 VYBORGSKIY 2,230 ‐ ‐ TURKEY 6908864

IEL 505 OTHER 1965KANASASHI

ZOSEN ‐ S 1,968 1,225 325$ INDIA 6525650

GRAMPIAN CRUSADER TUG 1976BROWN &

HAMER 1,920 ‐ ‐ ‐ 7413115

REHAM REEFER 1968 BUESUMER 1,679 924 ‐ INDIA 6813966

CASINO ROYALE PAX 1975 KYNOSSOURA 1,361 5,189 360$ INDIA 7350442

BKA DISCOVERY OTHER 1978WHYALLA

SHIPBUILDIN 905 ‐ ‐ ‐ 7710941

BKA ADVENTURE OTHER 1978WHYALLA

SHIPBUILDIN 905 ‐ ‐ ‐ 7710953

EXPLORER TUG 1981AVONDALE

WESTWEGO 877 ‐ ‐ INDIA 7821221

IBRAHIM PAX 1966AALBORG

VAERFT 651 2,499 ‐ INDIA 6609250

PANAGIA HOZOVIOTISSA PAX 1977 SALAMIS 508 ‐ ‐ TURKEY 7229796

BERMEOTARAK DOS OTHER 1975 AXPE 345 ‐ ‐ AS IS 7385423

BEIRAMAR TRES TRAWLER 1977SANTODOMING

O VIGO 340 ‐ ‐ AS IS 7615373

GRATITUDE TRAWLER 1976MANCHE

ATELIERS ‐ D 264 ‐ ‐ AS IS 7410357

FRESCACHON TRAWLER 1974 BALENCIAGA 245 ‐ ‐ AS IS 7403861

HERBADI UNO TRAWLER 1997VALINA

LAVANDEIRA 234 ‐ ‐ AS IS 9154464

JYTTE BROE TRAWLER 1974 JANSEN 230 ‐ ‐ ‐ 7349572

PUNTA ROBALEIRA TRAWLER 1979 FREIRE VIGO 190 ‐ ‐ AS IS 7717858

PELORITANO PAX 1927NOBISKRUG

WERFT ‐ G ‐ ‐ TURKEY 8138011

Note1: With Red color are indicated all Greek interest Sales

TRAWLER SELLERS ARE UNKNOWN

STERN TRAWLER ‐ AS IS SPAIN SELLERS ARE

FREIREMAR CANARY ISLANDS

PASSENGER/RO‐RO SHIP (VEHICLES)

SELLERS ARE HANAFIEH JAMA JORDAN

PASSENGER/RO‐RO SHIP (VEHICLES) ‐ EGE

CELIK GEMI SOKUM AS SELLERS ARE NEL

LINES GREECE

FISHING VESSEL ‐ AS IS SPAIN SELLERS ARE

BERMEANAS PESQUERAS SPAIN

STERN TRAWLER ‐ AS IS SPAIN SELLERS ARE

FREIREMAR CANARY ISLANDS

PASS/CRUISE ‐ ALSO REPORTED AS ROYALE

SELLERS ARE RAFFLES SHIPMANAGEMENT

SERV SINGAPOREHOPPER, MOTOR SELLERS ARE ISM GROUP

LTD SYRIA

HOPPER, MOTOR SELLERS ARE ISM GROUP

LTD SYRIA

PUSHER TUG SELLERS ARE STOLT‐NIELSEN

USA INC USA

DORTEL GEMI SOKUM DEMIR VE CEL

FISHING VESSEL SELLERS ARE ISLAND

ENTERPRISES MALDIVE ISLANDS

PLATFORM SUPPLY SHIP ‐ SELLERS ARE

NIPPON YUSEN KAISHA

REFRIGERATED CARGO SHIP SELLERS ARE

ELKASHAWEY BROTHERS SHIPPING EGYPT

TO BE BROKEN UP IN GEMI YAN SANAYI VE

TICARET AS

WASTE DISPOSAL VESSEL ‐BERKET IHRACAT

ITHALAT GEMI ‐ SELLERS ARE ARE ARROW

SHIPMANAGEMENT GREECE

TRAILING SUCTION HOPPER DREDGER ‐

DESGUACE CAMARGO ‐ SELLERS ARE

SPANISH GOVERNMENT

SELLERS ARE CEMENT HOPE TURKEY

SELLERS ARE CEMENT HOPE MC TURKEY

CHEMICAL TANKER SELLERS ARE CHINA

SHIPPING GROUP CO CHINA

TO BE BROKEN UP SELLERS ARE ODFJELL

MANAGEMENT AS NORWAY

IZMIR GERI DONUSUM LTD ‐ CHEMICAL

PRODUCTS TANKER SELLERS ARE

NAVIGATOR TANKERS MANAGEMENT

Panama

TO BE BROKEN UP IN SOK DENIZCILIK TIC

LTD STI

PRODUCTS TANKER SELLERS ARE RIMSCO

RUSSIA

TO BE BROKEN UP SELLERS ARE ARGO

SYSTEMS FZE UAE

SELLERS ARE MC SHIPPING SAM, MONACO

DEMTAS DENIZCILIK TURIZM SANAY

SELLERS ARE GHANDOURAH SHIPPING

SYRIA

CEMSAN GEMI SOKUM SAN LTD ‐

CHEMICAL TANKER SELLERS ARE

TROPICANA SHIPPING CO LTD‐MTA MALTA

CHEMICAL/PRODUCTS TANKER

PIPE LAYER SELLERS ARE TECHNIP SA

FRANCE

STERN TRAWLER SELLERS ARE SIKO CO LTD

UKRAINEPASSENGER/RO‐RO SHIP (VEHICLES) ‐

TURKEY BREAKING SELLERS ARE PROCIDA

LINES 2000 ITALY

STERN TRAWLER ‐ AS IS SPAIN

SELLERS ARE JENSEN B DENMARK




DEMOLITION STATISTICS: 2010 UNITS DWT LDT

January 111 3,936,396 908,085 UNITS LDT TAKEN AV. SCRP PRICE

February 104 2,621,157 643,697 97 548,761 $367March 127 4,621,959 1,017,093 265 1,853,208 $383

April 138 2,610,182 647,013 88 1,062,284 $401May 95 1,935,613 434,922 92 83,726 $212

June 96 1,797,135 440,396 62 444,763 $394July 0 0 0 67 98,464

August 0 0 0 671 4,091,206 $351September 0 0 0

October 0 0 0

November 0 0 0

December 0 0 0

TOTAL 671 17,522,442 4,091,206

TOTAL DRY&WET

UNITS LDT TAKEN av $ UNITS LDT UNITS LDT DWT97 548,761 367.4 49 464,629 7 84,132 2,654,642

265 1,853,208 382.8 174 1,168,144 77 685,064 6,154,914

88 1,062,284 400.5 31 252,473 56 809,811 5,536,518

92 83,726 212.3 24 71,417 6 12,309 494,839

62 444,763 394.3 29 108,671 29 336,092 1,993,448

67 98,464 15.0 8 52,377 4 23,030 378,287

671 4,091,206 351.4 315 2,117,711 179 1,950,438 17,212,648

COUNTRY UNITS % rankGREECE 107 15.9% 1

CHINA 42 6.3% 2SINGAPORE 39 5.8% 3

UAE 38 5.7% 4JAPAN 35 5.2% 5

NORWAY 30 4.5% 6USA 24 3.6% 7

SYRIA 24 3.6% 7TURKEY 22 3.3% 9

INDIA 17 2.5% 10RUSSIA 17 2.5% 10

LEBANON 14 2.1% 12UK 13 1.9% 13

DENMARK 12 1.8% 14UKRAINE 12 1.8% 14

BULGARIA 11 1.6% 16LATVIA 11 1.6% 16

INDONESIA 8 1.2% 18KOREA 8 1.2% 18

BANGLADESH 7 1.0% 20ALL OTHER 161 24.0%

UNDISCL 19 2.8%TOTAL 671 100.0%

CHINA

BREAKER

BREAKER – STATS ‘2010

WET

CHINA

DETAILED BREAKER REGION - STATISTICS FOR 2010

TURKEY

PAKISTAN

2010 DEMOLITION SELLERS STATISTICS

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

DRY

OTHER/CASH/AS IS

TOTAL

BANGLADESH

INDIA

PAKISTAN

INDIA

TOTAL

OTHER/CASH/AS IS

BANGLADESH

TURKEY

BREAKER

Average Scrap Price & No of Ships Scrapped 2005-2010

21

11

0

1618

105

127

1715

241820

1717161711

19

2929

2116

25

131716

1310

1723

812

21

1419

2219

24

49

27

39

72

79

112

95101

75

91

125

134

63

94

62

111104

127

138

9596

129125

$100

$200

$300

$400

$500

$600

$700

$800

Apr-05

Jun-0

5

Aug-05

Oct

-05

Dec-05

Feb-0

6

Apr-06

Jun-0

6

Aug-06

Oct

-06

Dec-06

Feb-0

7

Apr-07

Jun-0

7

Aug-07

Oct

-07

Dec-07

Feb-0

8

Apr-08

Jun-0

8

Aug-08

Oct

-08

Dec-08

Feb-0

9

Apr-09

Jun-0

9

Aug-09

Oct

-09

Dec-09

Feb-1

0

Apr-10

Jun-1

0

-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-05

Feb-0

6

Apr-06

Jun-0

6

Aug-06

Oct

-06

Dec-06

Feb-0

7

Apr-07

Jun-0

7

Aug-07

Oct

-07

Dec-07

Feb-0

8

Apr-08

Jun-0

8

Aug-08

Oct

-08

Dec-08

Feb-0

9

Apr-09

Jun-0

9

Aug-09

Oct

-09

Dec-09

Feb-1

0

Apr-10

Jun-1

0

0

20

40

60

80

100

120

140DWTLDTNUMBER

LDT INTAKE PER SCRAP COUNTRY FOR 2010

PAKISTAN, 444,763, 11%

TURKEY, 83,726, 2%

BANGLADESH, 1,062,284, 26%

INDIA, 1,853,208, 46%

CHINA, 548,761, 13%

SCRAP COUNTRY UNIT INTAKE FOR 2010

CHINA, 97, 14%

INDIA, 265, 40%BANGLADESH, 88, 13%

TURKEY, 92, 14%

PAKISTAN, 62, 9%

OTHER/CASH/AS IS, 67, 10%




BULKERS / SDTANK/

OBO/GASCONT/

TWEEN/MPP REEFER

RORO PAX CRUISE, OTHER

VEHICLES CARRIERS

TRAWLER TUG OTHER TOTAL

178 205 123 27 66 33 39 671 SHIPS

26.5% 30.6% 18.3% 4.0% 9.8% 4.9% 5.8% 100.0%

664,322 1,959,938 774,953 139,528 313,314 171,347 67,804 4,091,206

3,131,056 10,858,938 2,289,633 225,646 487,238 367,954 161,977 17,522,442

$179,713,214 $708,427,665 $222,101,029 $50,972,524 $78,001,321 $28,758,985 $12,056,783 $1,280,031,521

32.7 Years 27.7 Years 29.2 Years 29.4 Years 35.7 Years 27.2 Years 32.6 Years 30.7 Years

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

STATS

DWT

LDT

%

UNITS

Demolition DATA for 2010

AVERAGE AGE

USD PAID

AVERAGE MONTHLY SCRAP PRICE 2010 ‐ CHINA

$228$243

$215 $209$226

$251 $255 $268 $279 $266$286

$312 $319$343

$375$401

$388 $382

205

255

305

355

405

Jan‐

09

Feb‐

09

Mar‐

09

Apr‐

09

May‐

09

Jun‐

09

Jul‐09 Aug‐

09

Sep‐

09

Oct‐

09

Nov‐

09

Dec‐

09

Jan‐

10

Feb‐

10

Mar‐

10

Apr‐

10

May‐

10

Jun‐

10

AV

ER

AG

E S

CR

AP

PR

ICE

U$/

LD

T

AVERAGE MONTHLY SCRAP PRICE 2010 ‐ INDIA

$267 $262 $272 $259$234

$258 $249

$309$327

$291

$340$324

$362$345

$387

$460

$412

$367

220

270

320

370

420

470

Jan‐

09

Feb‐

09

Mar‐

09

Apr‐

09

May‐

09

Jun‐

09

Jul‐09 Aug‐

09

Sep‐

09

Oct‐

09

Nov‐

09

Dec‐

09

Jan‐

10

Feb‐

10

Mar‐

10

Apr‐

10

May‐

10

Jun‐

10

AV

ER

AG

E S

CR

AP

PR

ICE

U$/

LD

T

AVERAGE MONTHLY SCRAP PRICE 2010 ‐ PAKISTAN

$271 $265 $261 $266$248

$282$315

$273

$313 $312$293

$265

$379$353

$377

$464$427

$380

220

270

320

370

420

470

Jan‐

09

Feb‐

09

Mar‐

09

Apr‐

09

May‐

09

Jun‐

09

Jul‐09 Aug‐

09

Sep‐

09

Oct‐

09

Nov‐

09

Dec‐

09

Jan‐

10

Feb‐

10

Mar‐

10

Apr‐

10

May‐

10

Jun‐

10

AV

ER

AG

E S

CR

AP

PR

ICE

U$/

LD

T

AVERAGE MONTHLY SCRAP PRICE 2010 ‐ BANGLADESH

$274 $269

$311$277

$240

$296 $289 $300

$342$322 $322 $335

$362$393 $392

$445 $433$410

220

270

320

370

420

Jan‐

09

Feb‐

09

Mar‐

09

Apr‐

09

May‐

09

Jun‐

09

Jul‐09 Aug‐

09

Sep‐

09

Oct‐

09

Nov‐

09

Dec‐

09

Jan‐

10

Feb‐

10

Mar‐

10

Apr‐

10

May‐

10

Jun‐

10

AV

ER

AG

E S

CR

AP

PR

ICE

U$/

LD

T

AVERAGE MONTHLY SCRAP PRICE 2010 ‐ TURKEY

$218

$183 $186$202

$172$155

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

$207

$242

$212 $205

140

160

180

200

220

240

260

Jan‐

09

Feb‐

09

Mar‐

09

Apr‐

09

May‐

09

Jun‐

09

Jul‐09 Aug‐

09

Sep‐

09

Oct‐

09

Nov‐

09

Dec‐

09

Jan‐

10

Feb‐

10

Mar‐

10

Apr‐

10

May‐

10

Jun‐

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 1/1/2010 BSI 1/1/2010 BHI 1/1/2010

28/05/2010 4,078 30% 5,217 24% 4,247 11% 2,982 34% 1,477 28%01/06/2010 4,074 30% 5,402 29% 4,081 7% 2,930 32% 1,468 28%02/06/2010 4,041 29% 5,455 30% 3,995 4% 2,865 29% 1,455 26%03/06/2010 3,933 25% 5,275 26% 3,931 3% 2,798 26% 1,442 25%04/06/2010 3,844 22% 5,110 22% 3,878 1% 2,741 23% 1,426 24%07/06/2010 3,733 19% 4,884 16% 3,836 0% 2,677 20% 1,407 22%08/06/2010 3,579 14% 4,553 8% 3,789 ‐1% 2,610 17% 1,390 21%09/06/2010 3,514 12% 4,519 8% 3,723 ‐3% 2,523 13% 1,374 19%10/06/2010 3,423 9% 4,446 6% 3,552 ‐7% 2,458 11% 1,359 18%11/06/2010 3,288 5% 4,276 2% 3,361 ‐12% 2,410 8% 1,333 16%14/06/2010 3,115 ‐1% 3,905 ‐7% 3,283 ‐14% 2,374 7% 1,317 14%15/06/2010 3,020 ‐4% 3,739 ‐11% 3,211 ‐16% 2,345 5% 1,299 13%16/06/2010 2,893 ‐8% 3,488 ‐17% 3,115 ‐19% 2,306 4% 1,281 11%17/06/2010 2,784 ‐11% 3,317 ‐21% 3,018 ‐21% 2,270 2% 1,265 10%18/06/2010 2,694 ‐14% 3,134 ‐25% 2,980 ‐22% 2,232 0% 1,247 8%21/06/2010 2,601 ‐17% 2,920 ‐30% 2,968 ‐22% 2,194 ‐1% 1,229 7%22/06/2010 2,547 ‐19% 2,770 ‐34% 3,017 ‐21% 2,163 ‐3% 1,219 6%23/06/2010 2,515 ‐20% 2,698 ‐36% 3,062 ‐20% 2,143 ‐4% 1,205 5%24/06/2010 2,502 ‐20% 2,695 ‐36% 3,070 ‐20% 2,126 ‐4% 1,190 3%25/06/2010 2,501 ‐20% 2,717 ‐35% 3,045 ‐20% 2,122 ‐5% 1,182 3%28/06/2010 2,482 ‐21% 2,716 ‐35% 2,977 ‐22% 2,118 ‐5% 1,172 2%29/06/2010 2,447 ‐22% 2,713 ‐35% 2,875 ‐25% 2,096 ‐6% 1,165 1%30/06/2010 2,406 ‐23% 2,711 ‐35% 2,748 ‐28% 2,066 ‐7% 1,155 0%

BALTIC DRY BULK MARKET INDICES until 30th JUNE 2010

All Baltic DRY indices 2005 - 2010

3002300430063008300

1030012300143001630018300

Jun-05

Sep-05

Dec-05

Mar-06

Jun-06

Sep-06

Dec-06

Mar-07

Jun-07

Sep-07

Dec-07

Mar-08

Jun-08

Sep-08

Dec-08

Mar-09

Jun-09

Sep-09

Dec-09

Mar-10

Jun-10

BPIBCIBDIBSI

BALTIC DRY 2005 - 2010

400

2400

4400

6400

8400

10400

Jun-05Sep-05

Dec-05Mar-0

6Jun-06

Sep-06Dec-06

Mar-07Jun-07

Sep-07Dec-07

Mar-08Jun-08

Sep-08Dec-08

Mar-09Jun-09

Sep-09Dec-09

Mar-10Jun-10

BDI

BALTIC PMAX 2005 - 2010

300

2300

4300

6300

8300

10300

Jun-05Sep-05

Dec-05Mar-0

6Jun-06

Sep-06Dec-06

Mar-07Jun-07

Sep-07Dec-07

Mar-08Jun-08

Sep-08Dec-08

Mar-09Jun-09

Sep-09Dec-09

Mar-10Jun-10

BPI

BALTIC CAPE 2005 - 2010

400

2900

5400

7900

10400

12900

15400

17900

Jun-05Sep-05

Dec-05Mar-0

6Jun-06

Sep-06Dec-06

Mar-07Jun-07

Sep-07Dec-07

Mar-08Jun-08

Sep-08Dec-08

Mar-09Jun-09

Sep-09Dec-09

Mar-10Jun-10

BCI

BALTIC SUPMAX 2006 - 2010

300

1300

2300

3300

4300

5300

6300

7300

Jun-05Sep-05

Dec-05Mar-0

6Jun-06

Sep-06Dec-06

Mar-07Jun-07

Sep-07Dec-07

Mar-08Jun-08

Sep-08Dec-08

Mar-09Jun-09

Sep-09Dec-09

Mar-10Jun-10

BSI

CAPITAL LINK MARITIME INDEX 2005-2010

400

1400

2400

3400

4400

5400

Jun-05Sep-05

Dec-05Mar-06

Jun-06Sep-06

Dec-06Mar-07

Jun-07Sep-07

Dec-07Mar-08

Jun-08Sep-08

Dec-08Mar-09

Jun-09Sep-09

Dec-09Mar-10

Jun-10

CL Maritime Index (CLMI)

CAPITAL LINK DRYBULK INDEX 2005-2010

400

1400

2400

3400

4400

5400

6400

7400

Jun-05Sep-05

Dec-05Mar-06

Jun-06Sep-06

Dec-06Mar-07

Jun-07Sep-07

Dec-07Mar-08

Jun-08Sep-08

Dec-08Mar-09

Jun-09Sep-09

Dec-09Mar-10

Jun-10

CL Drybulk Index (CLDBI)

CAPITAL LINK CONTAINER INDEX 2005-2010

400

1400

2400

3400

4400

5400

Jun-05Sep-05

Dec-05Mar-06

Jun-06Sep-06

Dec-06Mar-07

Jun-07Sep-07

Dec-07Mar-08

Jun-08Sep-08

Dec-08Mar-09

Jun-09Sep-09

Dec-09Mar-10

Jun-10

CL Container Index (CLCI)

CAPITAL LINK MLP INDEX 2005-2010

400900

1400190024002900340039004400

Jun-05Sep-05

Dec-05Mar-06

Jun-06Sep-06

Dec-06Mar-07

Jun-07Sep-07

Dec-07Mar-08

Jun-08Sep-08

Dec-08Mar-09

Jun-09Sep-09

Dec-09Mar-10

Jun-10

CL MLP Index (CLMLP)




DATE CLEAN % frm 2/1/10 DIRTY % frm 2/1/1028/05/2010 481 ‐16.8% 482 ‐6.1%

01/06/2010 479 ‐18.1% 482 ‐8.4%

02/06/2010 475 ‐20.4% 490 ‐10.1%

03/06/2010 472 ‐21.2% 496 ‐11.0%

04/06/2010 469 ‐22.0% 503 ‐11.8%

07/06/2010 466 ‐22.3% 507 ‐12.3%

08/06/2010 462 ‐22.4% 512 ‐13.1%

09/06/2010 462 ‐22.0% 520 ‐12.8%

10/06/2010 458 ‐21.2% 539 ‐11.6%

11/06/2010 455 ‐20.8% 563 ‐10.9%

14/06/2010 454 ‐21.1% 601 ‐10.6%

15/06/2010 452 ‐20.8% 634 ‐11.0%

16/06/2010 451 ‐20.0% 656 ‐10.4%

17/06/2010 448 ‐18.0% 669 ‐10.4%

18/06/2010 448 ‐16.2% 701 ‐9.7%

21/06/2010 443 ‐15.8% 719 ‐8.8%

22/06/2010 441 ‐14.0% 725 ‐7.8%

23/06/2010 442 ‐12.9% 731 ‐8.3%

24/06/2010 450 ‐10.8% 721 ‐9.5%

25/06/2010 455 ‐8.3% 705 ‐10.4%

28/06/2010 466 ‐7.5% 689 ‐12.5%

29/06/2010 468 ‐6.0% 673 ‐14.5%

30/06/2010 465 ‐3.9% 648 ‐16.5%

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

DISCLAIMER: INFORMATION & DATA CONTAINED IN THIS MONTHLY MARKET REPORT HAVE BEEN CAREFULLY OBTAINED FROM VARIOUS MARKET SOURCES. ALTHOUGH

ALL IS BELIEVED TO BE CORRECT, N. COTZIAS SHIPPING GROUP MAKES NO GUARANTEE FOR ACCURACY, AND SHALL NOT BE LIABLE FOR ANY LOSS INCURRED IN ANY WAY WHATSOEVER BY ANY PERSON RELYING ON THE INFORMATION CONTAINED HEREIN.

BALTIC TANKER MARKET INDICES until 30th JUNE 2010

ALL BALTIC WET Indices 2006-2010

300

800

1300

1800

2300

Jun-06Sep-06

Dec-06Mar-07

Jun-07Sep-07

Dec-07Mar-08

Jun-08Sep-08

Dec-08Mar-09

Jun-09Sep-09

Dec-09Mar-10

Jun-10

BCTI

BDTI

BALTIC DIRTY TANKER INDEX 2005 - 2010

400

900

1400

1900

2400

Dec-05Mar-0

6Jun-06

Sep-06Dec-06

Mar-07Jun-07

Sep-07Dec-07

Mar-08Jun-08

Sep-08Dec-08

Mar-09Jun-09

Sep-09Dec-09

Mar-10Jun-10

BDTI

BALTIC CLEAN TANKER INDEX 2005 - 2010

300

700

1100

1500

1900

Dec-05Mar-0

6Jun-06

Sep-06Dec-06

Mar-07Jun-07

Sep-07Dec-07

Mar-08Jun-08

Sep-08Dec-08

Mar-09Jun-09

Sep-09Dec-09

Mar-10Jun-10

BCTI

Brent OIL (2001 - 2010)

162636465666768696

106116126136146

Jun-0

1

Sep-0

1

Dec-0

1

Mar

-02

Jun-0

2

Sep-0

2

Dec-0

2

Mar

-03

Jun-0

3

Sep-0

3

Dec-0

3

Mar

-04

Jun-0

4

Sep-0

4

Dec-0

4

Mar

-05

Jun-0

5

Sep-0

5

Dec-0

5

Mar

-06

Jun-0

6

Sep-0

6

Dec-0

6

Mar

-07

Jun-0

7

Sep-0

7

Dec-0

7

Mar

-08

Jun-0

8

Sep-0

8

Dec-0

8

Mar

-09

Jun-0

9

Sep-0

9

Dec-0

9

Mar

-10

Jun-1

0

Brent Oil

ALL CAPITAL LINK WET Indices 2006-2010

400

1400

2400

3400

4400

5400

Sep-05Dec-05

Mar-06Jun-06

Sep-06Dec-06

Mar-07Jun-07

Sep-07Dec-07

Mar-08Jun-08

Sep-08Dec-08

Mar-09Jun-09

Sep-09Dec-09

Mar-10Jun-10

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

Dec-05Mar-06

Jun-06Sep-06

Dec-06Mar-07

Jun-07Sep-07

Dec-07Mar-08

Jun-08Sep-08

Dec-08Mar-09

Jun-09Sep-09

Dec-09Mar-10

Jun-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

Dec-05Mar-06

Jun-06Sep-06

Dec-06Mar-07

Jun-07Sep-07

Dec-07Mar-08

Jun-08Sep-08

Dec-08Mar-09

Jun-09Sep-09

Dec-09Mar-10

Jun-10

CL LNG/LPG Index (CLLG)

WTI SPOT PRICE (2001 - 2010)

162636465666768696

106116126136146

Jun-0

1

Sep-0

1

Dec-0

1

Mar

-02

Jun-0

2

Sep-0

2

Dec-0

2

Mar

-03

Jun-0

3

Sep-0

3

Dec-0

3

Mar

-04

Jun-0

4

Sep-0

4

Dec-0

4

Mar

-05

Jun-0

5

Sep-0

5

Dec-0

5

Mar

-06

Jun-0

6

Sep-0

6

Dec-0

6

Mar

-07

Jun-0

7

Sep-0

7

Dec-0

7

Mar

-08

Jun-0

8

Sep-0

8

Dec-0

8

Mar

-09

Jun-0

9

Sep-0

9

Dec-0

9

Mar

-10

Jun-1

0

WTI Spot Price



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