ATHENIAN SHIPBROKERS S.A. - .NET Framework

ATHENIAN SHIPBROKERS S.A.

107-109, Vas. Pavlou Str., GR 166 73, Voula , Athens, Greece

Tel: 210 9659700 - Fax: 210 8996040

Internet Mail: [email protected]

www.atheniansa.gr

February 2012

M O N T H L Y R E P O R T

0

2000

4000

6000

8000

10000

12000

Feb

-02

Jun

-02

Oct

-02

Feb

-03

Jun

-03

Oct

-03

Feb

-04

Jun

-04

Oct

-04

Feb

-05

Jun

-05

Oct

-05

Feb

-06

Jun

-06

Oct

-06

Feb

-07

Jun

-07

Oct

-07

Feb

-08

Jun

-08

Oct

-08

Feb

-09

Jun

-09

Oct

-09

Feb

-10

Jun

-10

Oct

-10

Feb

-11

Jun

-11

Oct

-11

Feb

-12

Baltic Dry Index

PRICES TANKERS ($ MIO)

* Prices reflect Year’s End 2007* 2008* 2009* 2010* 2011* Feb-12

VLCC 5Y 136.0 155.8 78.0 87.8 55.6 55.7

VLCC 10Y 114.5 131.0 59.5 64.3 34.1 34.5

SUEZMAX 5Y 95.5 106.0 57.0 62.8 45.6 45.1

AFRAMAX 5Y 70.0 76.8 40.5 44.5 34.7 34.4

AFRAMAX10Y 60.0 64.7 23.5 30.7 19.3 19.1

PANAMAX5Y 60.4 61.0 35.5 39.0 30.9 28.2

45K 5Y D/H 53.0 52.7 23.5 27.3 25.8 25.5

45K 10Y D/H 44.7 43.2 16.0 19.7 15.8 15.6

45K 20Y 12.8 10.0 4.0 6.7 6.0 6.0

PRICES BULKERS ($ MIO)

* Prices reflect Year’s End 2007* 2008* 2009* 2010* 2011* Feb-12

CAPESIZE 5Y 148.0 45.5 54.5 57.0 36.3 36.0

CAPESIZE 10Y 103.0 30.0 45.0 43.0 26.8 26.6

CAPESIZE 15Y 88.5 21.0 28.0 26.0 15.2 15.1

CAPESIZE 20Y 60.0 15.2 16.5 16.4 10.5 10.2

PANAMAX 5Y 89.0 25.5 35.0 38.5 26.4 25.9

PANAMAX 10Y 71.5 19.0 27.5 31.6 18.6 18.1

PANAMAX 15Y 61.0 12.5 22.0 23.1 12.4 12.0

PANAMAX 20Y 44.0 9.2 12.0 13.8 8.1 7.8

SUPRAMAX 5Y 74.5 24.0 27.5 31.9 26.4 25.8

HANDYMAX10Y 60.5 18.2 22.0 24.7 18.0 15.9

HANDYMAX15Y 46.0 13.0 17.5 20.0 11.1 10.4

HANDYMAX20Y 36.0 7.4 11.0 12.0 7.9 7.6

mailto:[email protected]

http://www.atheniansa.gr/

www.atheniansa.gr ATHENIAN SHIPBROKERS S.A.

2

S E C O N D H A N D S A L E S & C H A R T E R F I X T U R E T R E N D S

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

Pri

ce (

USD

Mio

)

Monthly Tanker Market Trend

VLCC 5Y

VLCC 10Y

SMAX 5Y

AMAX 5Y

AMAX 10Y

PMAX 5Y

45K 5YD/H45K 10YD/H

0

10000

20000

30000

40000

50000

60000

70000

80000

90000

100000

Pri

ce (

USD

)

Monthly 1 Yr TC Rates

VLCC 1 YrT/C

SMAX 1Yr T/C

AMAX 1Yr T/C

PMAX 1Yr T/C

MR 1 YrT/C



3

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

Pri

ces

(USD

Mio

)

Monthly Bulk Carrier Market Trend

CAPE 5Y

CAPE 10Y

CAPE 15Y

PMAX 5Y

PMAX 10Y

PMAX 15Y

SUPRA 5Y

HMAX 5Y

HMAX 10Y

HMAX 15Y

0

20000

40000

60000

80000

100000

120000

140000

160000

180000

Pri

ce (

USD

)

Monthly 1 Yr TC Rates

CAPE 1 YrT/CPMAX 1 YrT/CSUPRA 1 YrT/CHMAX 1 YrT/C



4

S E C O N D H A N D T O N N A G E M A R K E T

*Excluding demolition sales

Sale and Purchase Market - Second Hand units

Ship Type Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Total

BULK 32 37 46 28 21 24 188 TANK 23 24 29 19 18 16 129 GAS 2 10 0 6 3 2 23 CONT 14 14 6 3 3 4 44 TWEEN 0 2 2 2 2 0 8 REEF 1 6 1 0 0 0 8 RORO 1 0 0 0 1 1 3 FERRY 0 0 1 0 0 0 1 CRUISE 0 1 0 0 0 1 2

Total 73 94 85 58 48 48 406

478

24

445

23

0

200

400

600

THIS MONTH - PREVIOUS MONTH

S&P Activity Dry (<5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES

193

16

161

18

0

100

200

300

THIS MONTH - PREVIOUS MONTH

S&P Activity Tankers (<5,000 Dwt)

AVAILABLE FOR SALE

REPORTED SOLD

PREVIOUS MONTH A/BLE FORSALEPREVIOUS MONTH SALES



5

TANKER SALES

NAME DWT BLT PRICE $ BUYER

GOLDEN ORIENT 6275 1997 JAPAN DH 5 MIO ASIAN (Stst Tanker)

CHARTSMAN 6397 1993 MALAYSIA DH 3.3 MIO NIGERIAN

EASTERN GOODWILL 8740 2001 JAPAN DH 8.3 MIO GREEK

GOLDEN MICRONESIA 9091 2004 JAPAN DH 9 MIO WILMAR, SINGAPORE (Stst

Tanker)

STENA CARIBBEAN 9996 2002 POLAND DH 13 MIO AUSTRALIAN (Incl TC Attached to

Chevron at Usd 16500 Pd till end 2012) KOHZAN MARU II 19997 1989 JAPAN DS 3.5 MIO INDONESIAN CLIPPER MIKI 19998 2009 JAPAN DH 23.6 MIO EUROPEAN (Stst Tanker) KING EDWIN 35775 2000 S.KOREA DH 12.75 MIO GREEK

STI MATADOR 40081 2003 S.KOREA DH * ENBLOC BSS▼ STI GLADIATOR 40081 2003 S.KOREA DH * ENBLOC BSS▼ STI CONQUEROR 40158 2005 S.KOREA DH 54 MIO UNDISCLOSED (Total Price)

ZYGI 44484 1992 CHINA DH 5 MIO THAI SELENDANG PERMATA 45974 1997 CHINA DH 8.5 MIO UNDISCLOSED DOUBTLESS 47076 1991 S.KOREA DH 6.3 MIO INDIAN BOX 50366 2009 S.KOREA DH 29.5 MIO UNDISCLOSED DALMACIJA 96168 1996 S.KOREA DH 10 MIO M3 ENERGY, MALAYSIA

GAS SALES

NAME DWT BLT CBM PRICE $ BUYER

HAYDOCK 4313 2001 JAPAN 4100 12 MIO PETROLIFT

ORIENTAL OKI 5350 2006 JAPAN 4919 15 MIO UNDISCLOSED

892

659 650

908

653

400

500

600

700

800

900

1000

9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 2 5 8

WEEK NO

Baltic Clean Tanker - Yearly

2012 2011

1047

734 674

842

930

784 788

500

600

700

800

900

1000

1100

9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 2 5 8

WEEK NO

Baltic Dirty Tanker - Yearly

2012 2011

645

666 704

733

500

600

700

800

900

26/01/2012 02/02/2012 09/02/2012 16/02/2012 23/02/2012

Baltic Clean Tanker - Monthly

822

801

782

795

789

817

798

750

770

790

810

830

850

26/01/2012 02/02/2012 09/02/2012 16/02/2012 23/02/2012

Baltic Dirty Tanker - Monthly



6

23246 21609 12726

3500

13500

23500

33500

43500

53500

63500

73500

Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12

$/D

ay

Spot Market - Tankers VLCC

SUEZMAX

AFRAMAX

20480

16085

12950

0

5000

10000

15000

20000

25000

30000

35000


$/D

ay

Period Market - Tankers 1 Year T/C

VLCC

SUEZMAX

AFRAMAX

416

366

395

200

250

300

350

400

450

500

26/01/2012 02/02/2012 09/02/2012 16/02/2012 23/02/2012

Baltic Handysize

2

721

600

652

641

678

500

550

600

650

700

750

26/01/2012 02/02/2012 09/02/2012 16/02/2012 23/02/2012

Baltic Supramax

2



7

BULKER SALES

NAME DWT BLT GEAR PRICE $ BUYER

PORT TEJO 5313 1993 POLAND CR 2X30 2.85 MIO INDONESIAN

HAI SUNG 7435 1997 S.KOREA DR 2X30, DR

2X25 2.5 MIO UNDISCLOSED (Via Auction,

Asis Thailand)

HARBOUR GEMINI 7988 1984 JAPAN DR 2X20, DR

2X15 1.4 MIO UNDISCLOSED (Logger)

KOPALNIA HALEMBA 11715 1990 POLAND CR 4X16, CR

1X12.50 3.25 MIO UNDISCLOSED

CASTOR 12334 1982 JAPAN CR 2X15 2.5 MIO UNDISCLOSED ACE DRAGON 24280 1997 JAPAN CR 4X31 8 MIO UNDISCLOSED (Logger) DIAMOND GLORY 28515 1997 JAPAN CR 4X30 9.2 MIO TURKISH

GOOD PILGRIMS 29400 2009 INDIA CR 4X30 17.7 MIO PRECIOUS SHIPPING, THAILAND

KEN ANN MARU 32115 1997 JAPAN CR 4X30 9 MIO UNDISCLOSED ALADDIN RAINBOW 32260 1999 JAPAN CR 4X30 10.5 MIO UNDISCLOSED AFRICAN ZEBRA 38623 1985 TAIWAN CR 4X25 4.2 MIO SINGAPOREAN SEALIGHT 41093 1984 JAPAN CR 4X25 4.2 MIO UNDISCLOSED ARCADIA 41455 1995 BULGARIA CR 4X30 11.47 MIO GREEK (Via Auction) SLOVENIJA 41526 1985 JAPAN CR 4X25 4.8 MIO UNDISCLOSED AFRICAN STAR 42004 1991 JAPAN CR 4X25 8.5 MIO UNDISCLOSED MAGIC FORTIS 42512 1985 JAPAN CR 4X25 4.2 MIO UNDISCLOSED ID NORD 46640 1999 JAPAN CR 4X31 14.5 MIO UNDISCLOSED SANKO GALAXY 52980 2005 JAPAN CR 4X30 20.5 MIO GREEK ABG 315 54000 2012 INDIA CR 4X30 28.2 MIO UNDISCLOSED NEWLEAD ESMERALDA

69458 1990 JAPAN GLESS 11 MIO GREEK

SAGARKIRAN 73350 1995 S.KOREA CR 4X25 11 MIO UNDISCLOSED

WASHINGTON TRADER

74228 2000 JAPAN GLESS * ENBLOC BSS▼

GOLDBEAM TRADER 74247 2001 JAPAN GLESS 31 MIO UNDISCLOSED

815

681 726

1018

931

836

600

700

800

900

1000

1100

26/01/2012 02/02/2012 09/02/2012 16/02/2012 23/02/2012

Baltic Panamax

4 1447 1436

1468

1452

1525

1380

1400

1420

1440

1460

1480

1500

1520

1540

26/01/2012 02/02/2012 09/02/2012 16/02/2012 23/02/2012

Baltic Capesize

44 4438



8

CONTAINER SALES

NAME DWT BLT GEAR TEU PRICE $ BUYER

CONDOR I 18395 1995 POLAND CR 2X43 1129 4.2 MIO UNDISCLOSED (Via Auction) ASTOR 18395 1995 POLAND CR 2X43 1129 4.2 MIO UNDISCLOSED (Via Auction)

OOCL SHANGHAI 67584 1999 S.KOREA GLESS 5762 * ENBLOC BSS▼

OOCL NEW YORK 67660 1999 S.KOREA GLESS 5762 27 MIO OOCL, CHINA (Chrtrs

Declared Purchase Option)

RORO SALES

NAME GT BLT LANE MTS/CARS PAX PRICE $ BUYER

LYUBOV ORLOVA 4251 1976 YUGOSLAVIA 112 0.275 MIO CARIBBEAN (Via Auction) HERMES 8062 1998 JAPAN 6.5 MIO FAR EASTERN

3132 4731

12620

0

5000

10000

15000

20000

25000

30000

35000


$/D

ay

Spot Market - Bulkers CAPESIZE

PANAMAX

HANDYMAX

15475

10523

8250

0

5000

10000

15000

20000

25000


$/D

ay

Period Market - Bulkers 1 Year T/C CAPE

PMAX

HANDYMAX

44



9

N E W B U I L D I N G M A R K E T A N D R E P O R T E D C O N T R A C T S

Dry Bulk Orderbook

Ship Type 2012 (deliv) 2012 2013 2014 2015 2016 2017+ Total

VLOC 4 48 14 10 2 0 0 74

Capesize 32 149 77 13 8 0 0 247

Small Cape 21 117 29 8 0 0 0 154

Panamax 52 420 205 51 0 0 0 676

Supramax 55 408 190 20 1 0 0 619

Handys 51 310 169 25 2 0 0 506

Total 215 1452 684 127 13 0 0 2276

Tanker Orderbook

Ship Type 2012 (deliv) 2012 2013 2014 2015 2016 2017+ Total

ULCC/VLCC 8 59 48 9 0 0 0 116

Suezmax 7 57 37 4 0 0 0 98

Aframax 9 50 26 9 0 0 0 85

Panamax 3 20 17 2 0 0 0 39

MR 9 68 67 16 0 0 0 151

Handy 2 12 4 0 0 0 0 16

Total 38 266 199 40 0 0 0 505

LPG Tank Orderbook

Ship Type 2012 (deliv) 2012 2013 2014 2015 2016+ Total

VLGC 0 2 12 1 0 0 15

LGC 0 0 0 0 0 0 0

MR 2 0 2 0 0 0 2

Handy 0 12 11 4 1 0 28

Small 3 47 10 3 2 0 62

Total 5 61 35 8 3 0 107

97.3

58.9 51.3

33.4

0

20

40

60

80

100

120

Feb-10 Jun-10 Oct-10 Feb-11 Jun-11 Oct-11 Feb-12

$m

Tanker Prices VLCC Suezmax

Aframax MR

1

5

3

47.3

27.5

25.4 22.3

0

10

20

30

40

50

60

70

Feb-10 Jun-10 Oct-10 Feb-11 Jun-11 Oct-11 Feb-12

$m

Bulker Prices Capesize Panamax

Handymax Handysize

5



10

215

481.8

82

972

611.1

190.3 121

196.6

48.9

0

100

200

300

400

500

600

700

800

900

1000

2010 2011 Feb-12

No

. o

f V

es

se

ls

Newbuilding Sales Tankers >10,000 dwt

Bulkers >10,000 dwt

Containerships

122.5

54.2

12.7

44.5

29.1

8.4

0

20

40

60

80

100

120

140

Feb-12 2013 2014+

m. d

wt

Delivery Schedule Bulkers >10,000 dwt.

Tankers >10,000 dwt

38.5

19.5

9.5

3.3

11

0

5

10

15

20

25

30

35

40

45

February 2012

m.

dw

t

Tanker Newbuildings on Order VLCC Suezmax

Aframax Panamax

Products

81.3

58.9

32.8

16.9

0

10

20

30

40

50

60

70

80

90

February 2012

m. d

wt

Bulker Newbuildings on Order Capesize Panamax

Handymax Handysize

Newbuilding Historical Prices ($m)

Tankers Feb-12 2011 2010 2009 2008 2007 2006 2005 2004 2000 1995 1990 1985

310,000 DWT1 97.3 98.9 104.8 97.5 150 145 130 120 108 76.5 85.3 87.4 2 38.2

170,000 DWT1 58.9 60.3 66.3 61 90 90 80 71.5 71 52.5 54 66.1 2 28.2

110,000 DWT1 51.3 52.2 56 49.5 74 72 65.5 58 60 41.5 43.3 53.2 2 18.1

47,000 DWT1 33.4 35.2 36.1 35 46.5 52 47 43 39 29.5 33.2 3

32.1 3

13.3

Bulkers

180,000 DWT1 47.3 48.4 57.2 55.5 87 96 67 58.5 64.5 40.5 42.3 60.2 29.3

73,000 DWT1 27.5 28.7 34.3 34.5 45.5 54 39.5 36 37 22.5 27.9 30 13.4

45,000 DWT 25.4 26.7 31.1 29 41 47.5 37 31 30 20.5 24.1 25.3 12.4

29,000 DWT 22.3 22.2 26.3 24.5 31 34 27.5 25.5 24 15 19.2 21.3 9.7

1 Before 2001 sizes to read 280,000 - 140,000 - 95,000 - 40,0000 respectively for tankers and 150,000 - 69,000 for Bulkers 2 Single Hull 3 30,000 DWT

(note: above is for vessels built Japan / Korea, you should also consider US$ / Yen / Won relation for the years mentioned)



11

The Shipbuilding Market

TYPE DWT BUILDER DELIVERY PRICE $ OWNER NOTES AHTS 500 Shin Yang Shipyard 2013 Ocean Mainport

AHTS 500 Shin Yang Shipyard 2013 Ocean Mainport

AHTS 500 Shin Yang Shipyard 2013 Ocean Mainport

Asphalt / Bitu 5000 Sedef Gemi End. 2013 Elcano

BULK 82000 STX Shipbuilding 2013 33 Mio Efnav Co. Ltd.




BULK 186300 Shanghai Waigaoqiao 2014 49,8 Mio U-Ming Marine Transport




BULK 75900 Jiangsu Rongseng 2014 Dryships Inc.




BULK 80000 Imabari S.B. 2014 Unknown

BULK 80000 Imabari S.B. 2014 Unknown

Catamaran 340 Austal Ships 2015 46 Mio Aremiti Pacific

CONT 55000 Jinling Shipyard 2014 54 Mio Dietrich Tamke K.G.

Drillship Jurong Aracruz 2015 792,5 Mio Petrobras

Drillship Engevix 2016 Etesco



Drillship Constructora Norbert 2017 Etesco

Drillship Constructora Norbert 2017 Etesco

FSRU/LNG Hyundai H.I. 2014 Hoegh LNG

LNG 85000 Hyundai Samho 2014 200 Mio Golar LNG

LNG 85000 Hyundai Samho 2014 200 Mio Golar LNG

LNG 85000 Hyundai H.I. 2014 Unknown

LNG 85000 Hyundai H.I. 2015 Unknown

LPG 59000 Hyundai H.I. 2014 Pertamina Direktorat

LPG 20600 Hyundai Mipo 2013 50 Mio Sovcomflot JSC

LPG 20600 Hyundai Mipo 2013 50 Mio Sovcomflot JSC

LPG 59000 Hyundai H.I. 2014 Pertamina Direktorat

PSV 4800 Wuchang Shuangliu 2013 Shanghai Salvage Co

PSV 4500 Alianca Shipyard 2013 Sao Miguel Nav.




PSV 5100 Simek A/S 2013 60 Mio Gulf Offshore NS

PSV 3300 Damen Galati 2013 94,76 Mio WWS

PSV 3300 Damen Galati 2013 94,76 Mio WWS

RORO 6000 Mitsubishi H.I. 2013 Nippon Express

TANKER 110000 Daewoo 2014 Kuwait Oil Tanker





TANKER 51000 Korean 2014 35,5 Mio Navios Acquisition



TANKER 52000 SPP Shipbuilding 2014 Unknown

TANKER 52000 SPP Shipbuilding 2014 Unknown



12

D E M O L I T I O N M A R K E T

Demolition Historical Average Prices

480 479

180

230

280

330

380

430

480

530

580

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

$

Tankers 2009 2010

2011 2012

456 451

180

230

280

330

380

430

480

530

580

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

$

Bulkers 2009 2010

2011 2012

Demolition Prices

Gen Cargo Tanker India USD 470 /lt Ldt USD 500 /lt Ldt

Bangladesh USD 460 /lt Ldt USD 490 /lt Ldt

Pakistan USD 465 /lt Ldt USD 495 /lt Ldt

China USD 410 /lt Ldt USD 430 /lt Ldt



13

India

TYPE NAME DWT BLT LDT PRICE $/LDT COMMENTS

BULK NAMA 14312 1988 4735 482

BULK MALLAK 18270 1981 5500 500

BULK OCEAN STAR 23793 1982 5945 500

BULK AGIOS NECTARIOS I 23969 1982 5734 492

BULK ANDRA 25637 1980 7796 502

BULK ZOITSA 26991 1978 6442 500

BULK OCEAN LEADER 28097 1984 6400 505

BULK SIAM STAR 29617 1984 6232 502

BULK BM FREEDOM 31247 1980 8894 453 Asis Dubai

BULK BESTKING 34698 1983 7933 475

BULK SERVET Y 35780 1983 8344 480

BULK DONNA 37636 1984 7726 495

BULK MIRANDA 44016 1979 14275 500

BULK HUA JIN HU 58412 1981 11596 485

BULK PANAMAX SUCCESS 63378 1983 12197 500

BULK BOSCO SUN 64150 1982 12105 505

BULK BOSCO DAWN 69001 1983 12367 502

BULK THEOTOKOS 71242 1984 13943 517 High content in Non-Ferrous material

BULK OCEAN QUEEN 187864 1987 23138 430 Asis S.Korea Incl 250 T Bunkers RoB

COMBO SEAGREEN 43549 1987 10250 482

13.4 27

28.65 26.9

38 25.6

14.5 4.9

2.35 4.6

3.8 15.9

16.7 18.9

15.5 18

15.6 25

30.5 22.4

28.4 28.5

27 10

5.5 6.5

5 12

28.9 25.7

31.58 6.44

0 5 10 15 20 25 30 35 40

19811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012

Million dwt

Year

Total Demolition



14

CONT TROYBURG 26152 1988 7540 475 Asis Spore With 500 T Bunkers RoB

CONT REUNION 28422 1983 8550 476

CONT KOTA SELAMAT 35615 1983 12861 502 Asis Khor Fakkan With Sufficient Bunkers RoB

CONT KHALED IBN AL WALEED 35615 1983 12858 514 Asis Khor Fakkan With Bunkers RoB

CONT AL MANAKH 35615 1983 12888 519 Asis Khor Fakkan With Bunkers RoB

CONT MSC ANAHITA 36377 1985 12876 505

REEF NOVA FRIESIA 6568 1987 3525 490

REEF VIKING STAR 9157 1991 4124 485 Asis Fujairah with sufficient Bunkers RoB

REEF YASAKA BAY 10647 1983 5503 489

REEF NAPIER STAR 11822 1994 5280 575 Asis Fujairah Incl 262 T Aluminium

REEF NELSON STAR 11831 1993 5288 575 Asis Fujairah Incl 262 T Aluminium

TANK ST. JAMES PARK 13924 1993 3869 603 Stst Tanker

TANK BRUCE PARK 13940 1992 3868 602 Stst Tanker

TANK GEMINI 29870 1986 9199 495

TANK ZEINAT 3 68232 1995 16248 515

TANK REINA SOFIA 311690 1995 40963 490

Bangladesh


BULK STRAIT CHALLENGER 23418 1982 5994 496 Incl 300 T Bunkers RoB

BULK BM HOPE 26126 1978 8200 * Enbloc Bss▼

CONT BM INTREPID 19310 1983 5940 * Enbloc Bss▼

TWEEN BM ADVENTURE 17520 1980 6478 * Enbloc Bss▼

TWEEN BM DEFENDER 22882 1981 8405 453 Asis Chittagong

BULK YASIN C 36318 1982 8832 475

BULK KS TRADER 42943 1982 8109 475

BULK CEBU STAR 45546 1982 9759 491

BULK BINTAN STAR 69397 1984 16859 485

BULK EVER BRIGHT 148982 1987 24515 492 Incl 450 T IFO RoB

BULK HEBEI FOREST 149212 1989 17198 505

TANK VIGOUR 86591 1995 21687 512

China


BULK TIAN YU 6269 1981 1924 390

BULK TIWAI MARU 18703 1984 4989 440

BULK GANNET ARROW 39260 1985 11519 430

BULK FINCH ARROW 39273 1984 11796 430

BULK DAIO ANDES 44315 1989 8664 430

BULK BEST GRACE 63578 1981 11670 420

BULK HYUNDAI COSMOS 163256 1986 20803 443 Asis N. China With 450 T Bunkers

REEF BALTIJAS CELS 13305 1988 9398 410

TANK SHUN XING 68180 1985 16560 420 Approx Ldt due to conversion



15

Pakistan


BULK BM PRIDE 18982 1983 7176 453 Asis Karachi

BULK SEA BIRD 63868 1984 11739 517 Incl 250 T Bunkers RoB

BULK PEARL C 65622 1987 11551 520

BULK PIONEER EPOS 75470 1981 13397 475

TANK BRILLIANT JEWEL 247471 1989 41000 505

TANK SUNLIGHT JEWEL 302326 1993 40900 505

Other


BULK SEA DREAM 26223 1981 7296 500 India/Pakistan Rng. Incl Full spares on board

BULK DON RAUL 37695 1984 7292 320 Asis Rosario (Argentina)

TANK ISABEL BARRETO 25243 1986 6954 327 Asis Peru

TANK ANDOAS 32605 1987 9210 327 Asis Peru

TANK SAMIRIA 40439 1987 8951 327 Asis Peru



16

M A R K E T I N D I C A T O R S

GBP CAD EUR JPY CHF USD

AUD

GBP 1 0.6332 0.8475 0.007841 0.7033 0.631 0.6792

CAD 1.5799 1 1.3389 0.012387 1.111 0.9968 1.0729

EUR 1.1801 0.7471 1 0.009252 0.8298 0.7446 0.8014

JPY 127.568 80.7601 108.104 1 89.7019 80.4823 86.6318

CHF 1.4223 0.9005 1.2053 0.011151 1 0.8974 0.966

USD 1.585 1.0035 1.3432 0.012427 1.1146 1 1.0764

AUD 1.4727 0.9324 1.2481 0.011546 1.0356 0.9292 1 * 28/02/2012 values

70

75

80

85

90

95

100

105

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

01/02/11 01/04/11 01/06/11 01/08/11 01/10/11 01/12/11 01/02/12

USD

-JP

Y

USD

-EU

R

Currencies USD-EUR

USD-JPY

60.00

70.00

80.00

90.00

100.00

110.00

120.00

130.00

140.00

01/02/11 01/04/11 01/06/11 01/08/11 01/10/11 01/12/11 01/02/12

$/B

arre

l

Brent Oil



17

S T O C K W A T C H

NAME TICKER THIS

MONTH* LAST MONTH CHANGE % 52w HIGH 52w LOW

NewLead Holdings NEWL 0.95 0.70 35.7 3.88 0.40

Capital Product Partners

CPLP 7.56 7.58 -0.3 11.39 4.85

Diana Shipping DSX 8.94 8.36 6.9 12.66 6.59

Dryships DRYS 3.48 2.19 58.9 5.12 1.75

Eagle Bulk EGLE 1.74 1.32 31.8 4.17 0.88

Euroseas ESEA 2.95 2.91 1.4 5.28 2.15

Excel Martime EXM 1.88 1.54 22.1 5.22 1.37

Freeseas FREE 1.23 0.41 200 3.49 0.36

Genco Shipping&Trading

GNK 6.85 7.45 -8.1 12.50 4.15

Costamare Inc. CMRE 14.43 14.83 -2.7 18.48 10.93

Goldenport GPRT 67.67 60.78 11.3 115.61 57.00

Navios NM 4.13 3.63 13.8 5.99 2.88

GasLog LNG Services GLOG N/A N/A N/A N/A N/A

Paragon PRGN 0.91 0.63 44.4 3.20 0.55

Safe Bulkers SB 7.13 6.86 3.9 9.78 5.28

Star Bulk SBLK 1.01 0.98 3.1 2.65 0.86

Stealthgas GASS 4.76 4.41 7.9 7.20 3.40

TEN TNP 6.45 6.35 1.6 11.18 4.78

TOP Ships TOPS N/A N/A N/A 11.60 2.86

* 28/02/2012 closing values IPO Pending

Disclaimer: Information and data that appear in this report have been obtained from various sources which are believed to be correct and reliable. However, Athenian Shipbrokers S.A. does not guarantee their accuracy or completeness and therefore cannot be held liable for any loss incurred as a result of reliance in any way whatsoever on the information contained herein.

Kind Regards,

ATHENIAN SHIPBROKERS S.A.


Documents

ATHENIAN SHIPBROKERS S.A. - .NET Framework