Report of the Facts & Figures Committee Tore Forsmo Chairman

Report of the Facts & Figures Committee

Tore ForsmoChairman

Committee Members

Paul BUYL (Belgium)

Cédric CHARPENTIER (France)

Jim CRAIG (USA)

Andrea CUPIDO (Italy)

Tore FORSMO (Norway) (Chairman)

Pamela FROOD (UK/IUA)

Patrizia KERN (Switzerland) (New)

Jens SCHILDKNECHT (Germany)

Astrid SELTMANN (Norway) (Secretary)

Simon STONEHOUSE (UK/Lloyd’s)

Global Shipping Market TrendsFacts & Figures CommitteeFacts & Figures Committee

Tore ForsmoManaging Director

The Central Union of Marine Underwriters, Oslo, Norway

Thanks also to F&F Committee Members Cédric Charpentier and Simon Stonehouse

Special Ships 3.2%(+13.7%)

Ore/Bulk/Oil 0.3% (-33.2%)

Ro-Ro cargo 2.8% (+1.8%)

Reefer ships 2.8% (-12.6%)

Chemical tankers 3.3% (+3.6%)

Liquefied gas 2.9% (+8.8%)

Bulk carriers 15.8% (+12.4%)

Passengers 9.8% (+7.9%)

Container ships 8.5% (+37.1%)

Oil Tankers 19.1% (+8.8%)

General cargo 31.5% (-11.8%)

WORLD REPORTED FLEET Total number : 41,110 shipsincreased by + 5.4 % on the

period Average age : 19.1 years

22.6

17.3

15.6

22.4 years 10.9

year

16.3

18.2

19.1

20

.5

21.3

World Merchant Fleet by type of ship of 300gt and over

As at January 1st 2006 – number of ships in share of the World Reported Fleet, growth rate 2001-2006 (%) and average age

Source: Indicators issued from various sources such as ISL Bremen for World fleet and trading figures and Clarkson Research Studies for shipbuilding and scrapped vessels.

944,497

11,937 111,663 8,087

353,537

24,227

9,943

333,633

72,121

6,605 6,754 5,990

- 49.9%

+ 18.2%

+ 24.0%

- 5.6%

+ 27.2%

- 10.6%- 15.7%

+ 14.2%

+ 76.4%

+ 41.4%

+ 30.6%

+ 19.4%

-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

Oil Tankers Chemical tankers Liquefied gas Bulk carriers Ore/Bulk/Oil Container ships Passengers General cargo Reefer ships Ro-Ro cargo Special Ships Total

-60%

-40%

-20%

0%

20%

40%

60%

80%

100%

1,000dwt in 2006 Growth rate 2000/ 2006

World Merchant Reported Fleet by type of ships 300gt and over

As at January 1st, 2006 – Deadweight and growth rate 2000-2006


41,110 ships (+ 13,4%)

38,917 ships (+ 7.4%)

761,909 mDWT (+ 15.5%)

944,498 mDWT (+ 45,9%)

506,544 mGT (+ 11.7%)

639,658 mGT (+ 38,5%)

0 %

5 %

10 %

15 %

20 %

25 %

30 %

35 %

40 %

45 %

50 %

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006

World Merchant Fleet of ships of 300gt and over

Evolution of the growth rates (GT, DWT, and Number of ships) between 1995 and 2006


- 0.2 % (+ 0.45%)

- 1.2 % (+ 1.5%)

+ 1.9 % (+ 2.9%)

+ 6.0 % (+ 5.4%)

- 1.8 % (- 0.3%)

- 0.9 % (- 10.8%)

0%

5%

10%

15%

20%

25%

30%

35%

40%

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006

Oil Tankers

Liquefied gas

Bulk carriers

Container ships

Passengers

General cargo

Growth rate in 2005 (in 2004)Share of World Fleet

World Merchant Fleet by main types of ship of 300gt and over

Evolution of the number of ships in shares (%) of the world fleet 1996 – 2006, Growth rate in 2005


13,07112,905 12,916 12,646

12,46212,707

13,12113,342 13,305

13,84014,480

15,668

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

2001 2002 2003 2004 2005 2006

1,000dwt

National Flag (dwt) Foreign Flag (dwt)

Ships of 1,000 GT

Total Units in the :

Reported Fleet

Not Reported Fleet

Total World Fleet (1,000gt and over)

26,192

3,524

26,247

3,686

26,221

4,174

26,486

4,117

26,942

3,909

28,375

3,567

29,716 29,933 30,395 30,603 30,851 31,942

World Merchant Reported Fleet by National and Foreign Flag

As at January 1st, 2006 – thousand DWT and number of ships



World Merchant Fleet – Top Ten Countries

DWT-rank 2006 (2005)

Country of ManagementTotal fleet - 1,000DWT

2006

% share on the Total

World Fleet Reported in

2006

Growth rate 2005/2006

Growth rate 1996/2006

1(1) GREECE 159,413 18.0% -0.7% 34.8%2(2) JAPAN 131,010 14.8% 10.4% 50.4%3(3) GERMANY 70,279 7.9% 22.3% 312.4%4(4) CHINA, PR of 64,187 7.2% 18.6% 87.5%5(6) USA 46,897 5.3% 13.7% -1.9%6(7) HONG-KONG 43,382 4.9% 11.2% 40.0%7(5) NORWAY 43,292 4.9% -1.6% -9.9%8(8) KOREA, Rep.of 29,421 3.3% 9.6% 43.7%

9(10) CHINESE TAÏPEI 24,319 2.7% 2.8% 70.5%10(11) SINGAPORE 22,274 2.5% 0.1% 77.7%

634,474 71.6% 7.9% 47.3%Others countries 251,288 28.4% 5.0% 25.4%

885,762 7.1% 40.4%

936,363

WORLD MERCHANT FLEET - THE TOP TEN COUNTRIES OF MANAGEMENT As at January 1st, 2006 – Rank in 2006 (in 2005) and thousand of DWT (Ships of 1,000gt and over )

3,567 ships for 50.6 million dwt not reported

Total Top Ten Countries of Management

Total World Merchant Fleet by Country of Management

Total World Merchant Fleet (including fleets for which the Country of Management is unknown)

0

50,000

100,000

150,000

1,00

0 D

WT

0

5

10

15

20

25

30

35

Years

1,000 DWT NF 1,000 DWT FF Average Age NF Average Age FF

Top Ten Countries Fleet Average Age : 14.6 years

Ships of 1,000 GT and

Average Age FF : 13.1 years

Average Age NF : 17.5 years

World Merchant Fleet – Top Ten Countries by National (NF) and Foreign Flags (FF)

As at January 1st, 2006


112.6 112.3 115.6

177.0

219.5

85.7

67.9

13.9

53.0

3.6

6.5

0

50

100

150

200

250

2000 2001 2002 2003 2004 2005

Tankers >=1,000dwt Bulk Carriers >=10,000dwt LNG/LPG Carriers Container Vessels >=5,000dwt Others (of which Passenger Vessels >=1,000grt) General cargo (>= 300gt)

230.6

Orderbook Evolution by type of ship

in million DWT


World Shipbuilding: Shares of Deliveries

Source: Clarkson Research Studies for shipbuilding and scrapped vessels.

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%1

97

5

19

77

19

79

19

81

19

83

19

85

19

87

19

89

19

91

19

93

19

95

19

97

19

99

20

01

20

03

20

05

% C

GT

De

liv

eri

es

Japan

Europe

Korea

China

Others

Vessels on order by Country of Build@ August 2006 (Numbers)


China24%

FSU2%

Europe19%Far East

8%

Japan19%

Middle East1%

South Korea23%

Taiwan1%

USA1%

Americas1%

Unknown1%

Total No 5,653


Vessels on order by Country of Build@ August 2006 (DWT)

Americas1% China

24%

Europe6%

Far East2%Japan

29%

Middle East1%

Taiwan1%

FSU1%

Unknown0%

South Korea35%

Total 275.6 million DWT

Top Contracting Countries by Number of Vessels on Order


0

100

200

300

400

500

600

700

800

900

1000

Top Contracting Countries by DWT of Vessels on Order


0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

+ 4.2 %

+ 6.3 %

+ 3.7 %

+ 4.5 %

900

1,100

1,300

1,500

1,700

1,900

2,100

2,300

2,500

2,700

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 (*)

Maj

or t

rad

es

4,000

4,500

5,000

5,500

6,000

6,500

7,000

7,500

Total W

orld T

rade

Crude oil and oil products

The 4 main Dry Bulk Cargoes (Iron Ore, Coal, Grain, Bauxite/Alumina)

Other Cargoes

Total World Trade

(*) estimates

World Seaborne Trade Volume

Development 1993-2005 (in million tonnes) - Growth rate in 2005


estimates

126.2

201.6

122.1

0

30

60

90

120

150

180

210

240

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 (*)

Grain

Non ferrous metal

Agricultural raw material

Index 2000 = 100

World Market Price Indices for Selected Commodities

Annual Average (1993-2005) – Average in 2006 as at end of April (*)


100

262.7

190.0

221.5

0

50

100

150

200

250

300

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 (*)

Iron ore, scrap metals

Coal

Crude oil

Index 2000 = 100

World Market Price Indices for Selected Commodities

Annual Average (1993-2005) – Average in 2005 as at end of April (*)


FREIGHT MARKET (indices) – YEARS 1995 to 2006 (January to April 2006)


334.8

324.8

345.9

278.3

0

100

200

300

400

500

600

700

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006

Time Charter Index (1 to 2 months)

General Freight Index

Grain Freight Index

Miscellaneous Freight Index

Index 1972 = 100

Container Vessels & Risk AggregationF&F Open Forum

• Container Operations and Risk Handling from a Port Point of View

• Capt. James McNamara, President, National Cargo Bureau Inc., New York

• Container Operations and Risk Handling from the Underwriters’ Point of View

• Matthias Kirchner,Manager, Marine & Aviation, Axa Corporate Solutions, Germany

Documents

Report of the Facts & Figures Committee Tore Forsmo Chairman