s&p monthly report august 2010 - poslovni … report 2010 08...tanker ships vlcc 30/8/2009 suz...

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

Ship sale volume: Aug-10 Jul-1093 78 last month

59 56 last month

34 22 last month

Scrap volume:

75 60 last month

$590 ldt/INDIA 125ts Stainless Steel

Newbuilding Ships Prices 27/08/2010 (in mil USD)Dry Cargo CAPE 30/8/2009 PMX 30/8/2009 HMAX 30/8/2009

NEWBUILDING $72.0 $62.0 $44.0 $39.0 $36.0 $32.0Tanker Ships VLCC 30/8/2009 SUZ 30/8/2009 AFR 30/8/2009

NEWBUILDING $108.0 $110.0 $71.2 $71.5 $58.0 $50.5PAN 30/8/2009 PROD 30/8/2009

$45.5 $45.2 $36.5 $38.0Average Dry cargo T/C Earnings (worldwide routes):

Aug-10 Jul-10 Jun-10 May-10$28,253 $16,750 $35,022 $44,871$21,854 $16,630 $24,455 $35,117$25,770 $20,621 $28,452 $35,773$22,919 $19,638 $26,033 $34,091$22,756 $20,064 $25,432 $32,556$21,990 $16,729 $22,592 $34,654$15,800 $16,000 $17,000 $22,854$15,682 $13,641 $16,550 $20,655

Scrap Prices for AUGUST 2010

CHINA HIGH $405 AVERAGE $380 AUGUST 2010 AVERAGE $400 INDIA HIGH $590 AVERAGE $404 JULY 2010 AVERAGE $393

BANGLADESH HIGH $398 AVERAGE $398 JUNE 2010 AVERAGE $373 PAKISTAN HIGH $470 AVERAGE $442 MAY 2010 AVERAGE $399

TURKEY HIGH $198 AVERAGE $198 APR 2010 AVERAGE $440 344.90BALTIC INDICES 31-Aug-10 30-Jul-10 30-Jun-10 31-May-10

2713 37.93% 1967 2406 40783516 82.93% 1922 2711 52172950 12.08% 2632 2748 42472066 17.39% 1760 2066 29821077 6.63% 1010 1155 1477679 -14.70% 796 785 680715 -10.18% 796 855 962

COMMENTS:

Baltic Cape Index

Baltic Handymax Index

Elaborating more on this, comparing 2010 2Q estimate GDP growth of the developing economies really show some encouraging signs. It is a known fact that shipping heavily

depends on the wellbeing of the developing world in order to get more steam into our seaborne trade. The Philippines for the first semester of 2010, have the positive estimate for

2Q 2010, of 5.4% growth, Indonesia 6.2%, India 8.4%, Malaysia 8.9%, Vietnam 6.4%, Thailand 10.5%, Taiwan 11%, Korea 7.5% and China 10.3% while Japan only 4%. These Asian

country growth figures are very encouraging and adding Russia 5.2% and Brazil 9% we see that the comparison with the low estimates of 2.4% for the USA, and 2.2% for Germany

and the mere 1% of the Eurozone is not encouraging to make as expect any more help from the developed world, but one could say that we may feel happy enough that at least

these figures are positive… so let’s not be greedy!! Thank you developing economies... !!!

Executive Summary

Dry cargo Ships sold this month:

Total number of Ships sold this month:

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:

Baltic Supramax Index

There was fear for some and hope for others that the declining freight market, would have pushed secondhand prices down too. The overall expectation was that prices would be

pressed to deflate, amybe not to the same extent as the percentage loss of the daily earnings but at least we were contemplating to see some better priced ships in the Aug/Sep

"End of Summer/Fall ‐ Sales"...! Instead we saw the freight markets collecting its pieces, rising up, and recovering a great part of their losses at a phenomenal pace, and aided by

the Chinese who were "back in business" again, resolved back to the levels of Feb‐April 2010. What was very interesting to note during this rebound is that when a market with

such volatility and of such a high volume can be so easily controlled and manipulated by the Chinese demand, there is also the great fear that China having this "remote controll" in

their hands so they can switch‐it‐off, turn it‐back‐on and change pace and gears with the touch of a button, then we talk about a total market concentration and a totaly unfair

game‐play for the rest of the players... who will simply have to just follow...

S&P MONTHLY REPORT

Baltic Dirty Tanker Index

Wet cargo Ships sold this month:

Ships scrapped this month:

Baltic Panamax Index

AUGUST 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

China has imposed their game rules in the iron/ore pricing agreement, and the country’s size and import appetite on its own have such great weight that they can and have

brought the per tone prices to the desired levels. Russian grain exports embargo/ban went into action as from the 15th August until 31st Dec 2010, and the Russian exports will be

limited to 60‐65 mil tones for 2010 as opposed to 97 mil tones for 2009. This is a serious quantity reduction that will be needed to be shipped from alternative locations and this

will definitely act positively on shipping freights as the per ton mile cost will increase. Adding to this, the underlying global market fundamentals still pose a great degree of

uncertainty although the overall world trade and growth picture looks much better than 2 months ago.

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

PRINCESS KATHERINE

OBO 1986BOELWERFT

TEMSE 164,100 $10.50mCHINESE BUYERS

CHINA

SELLERS ARE RAVENSCROFT SHIP

MANAGEMENT, USA. DRY TRADING OBO. SOLD AT

DEMO LEVELS FOR FURTHER TRADING.

8407668

SANKO SPARK BC 1996 DAEWOO 150,961 $25.00m SWISS MARINE GREECESELLERS ARE SANKO STEAMSHIP CO LTD

JAPAN - SS DUE FEB 20119074511

BULK LEHER BC 1992 CSPC CHINA 149,532 $19.60mCHINESE BUYERS

CHINA

SELLERS ARE ANGLO-EASTERN

SHIPMANAGEMENT, HONG KONG, CHINA.

9035785

GOOD SEASON BC 1985COCHIN

SHIPYARD - INDIA

74,905 $10.50mPACIFIC FIRST

SHIPPINGINDIA

OLD SALE - OTHER REPORT SAYS $12MIL & $11.5MIL - SELLERS ARE ARCHEAN GROUP INDIA -

SS/DD PASSED

7702255

ROSALIA D'AMATO BC 2001 HUDONG 74,500 $30.00mNORWEGIAN

BUYERSNORWAY

SELLERS ARE SHIPS SURVEYS AND SERVICES

SRL, ITALY. 9225201

SEAFLOWER BC 1995 KOYO MIHARA 69,128 3X4T $24.00mATHENIAN SHIP MANAGEMENT

GREECE

SELLERS ARE PRIMEROSE SHIPPING, GREECE. OTHER REPS

SAY SOLD AT $22m

9105231

YUN TONG HAI BC 1990 HYUNDAI HI 68,788 $19.10mNINGBO

SHIPPING (ZHOUSHAN)

CHINA

SELLERS ARE COSCO SHANGHAI SHIP MANAGEMENT -

REPORTED SOLD IN AUG 2007 FOR $33MIL

8801022

YIALIA BC 1980 HYUNDAI HI 61,203P&C TERMS

CHINESE BUYERS

CHINASELLERS ARE KARLOG SHIPPING CO, GREECE 7902556

XIAMEN SHIPBUILDING

SUPRA 1BC 2010

XIAMEN SHIPBUILDING 57,000 4X30T -

XIAMEN SHIPBUILDING

SUPRA 2BC 2010

XIAMEN SHIPBUILDING 57,000 4X30T -

QU SHAN HAI BC 2010COSCO

ZHOUSAN 56,965 4X30T $36.00mUNDISCLOSED

BUYERS-

SELLERS ARE COSCO CHINA 9454668

BAO SUCCESS BC 2011JIANGSU

HANTONG 56,836 $33.50m 9482029

BAO WEALTH BC 2009JIANGSU

HANTONG 56,836 $33.50m 9525821

NEW ORION BC 2003 HYUNDAI MIPO 52,191 4X30T $29.20m INDIAN BUYERS INDIA

SELLERS ARE STX PAN OCEAN CO LTD, KOREA -

OTHER REPORTS CLAIMED MIDDLE EAST

BUYERS SAME PRICE AT $28.5MIL

9250141

KITE BC 1997 STX 47,195 4X30T $23.00mUNDISCLOSED

BUYERS-

SELLERS ARE EAGLE BULK SHIPPING INC USA 9122291

TAMARUGAL BC 2000 KANASASHI 46,200 4X30T $24.30m KRITSAS GREECE

SELLERS ARE ORIENT MARINE JAPAN. SALE REPORTED (@$25.1m) WEEK 28 FAILED AND NOW SOLD TO OTHER

GREEKS AT $24.3m

9214862

TASSOS N BC 1986CHINA

SHIPBUILDING CORPORATION

41,343 4X25T $12.00mUNDISCLOSED

BUYERS-

SELLERS ARE TRANSWORLD A.M. NOMIKOS GREECE -

LATEST RUMOURS AND REPORTS SAY VESSEL'S

SALE FAILED

8412778

NIEBLA BC 1984 IHI KURE 38,830 4X25T $9.50mKUWAITI BUYERS

KUWAITSELLERS ARE ERSHIP

SAU SPAIN 8323226

SOLD ENBLOC BAO WEALTH AND SISTER VSL

FOR $33.5m EACH UNIT TO EUROPEAN BUYERS - SELLERS ARE CHINESE

$66.00mGERMAN BUYERS

GERMANY

EUROPEAN BUYERS

EUROPE

AUGUSTDRY CARGO SHIPS SOLD DURING THIS MONTH




GOLDEN 9 BC 1982 MITSUBISHI 38,101 3X30T $5.00mUNDISCLOSED

BUYERS-

SELLERS ARE PANCON SHIPPING & MARINE

SINGAPORE - SHE WAS ACQUIRED IN APRIL 2009

FOR $3.8MIL VESSEL WASCONVERTED TO BC

FROM TANKER IN 2008, UTILISING CENTRE TANKS

AS CARGO HOLDS.

8004997

CORDOBA BC 2010JIANGSU EASTERN 37,852 4X30T $30.50m 9404431

USHUAIA BC 2009JIANGSU EASTERN 35,500 4X30T $30.50m 9404429

AO LI 2 BC 2010ZHEJIANG AOLI SHIPBUILDING 35,000 4X30T $26.50m GREEK BUYERS GREECE

ZHEJIANG AOLI AI0605 HULL RESALE 9567506

HAMBURGO CONT 1996 FLENSBURGER 32,483 2X40T, 2000 TEU $14.75m GREEK BUYERS GREECE

SELLERS ARE RICKMERS REEDEREI GMBH

GERMANY - OTHER REP SAYS $15MIL CHINESE

BUYERS

9122538

ROYAL FOREST BC 1998 MITSUBISHI 31,770 4X30T $20.00m GREEK BUYERS GREECESELLERS ARE MITSUBISH

CORPORATION, JAPAN 9178551

JOLLY PLATINO CONT 1990HYUNDAI HEAVY

INDS 31,584 2026 TEU $7.80mCHINESE BUYERS

CHINASELLERS ARE IGNAZIO

MESSINA & C SPA ITALY 8901872

FEDERAL YANGTZE BC 2010 SHANHAIGUAN 30,688 3X30T $27.00m 9564140

EASTWIND YATES BC 2010 SHANHAIGUAN 29,800 3X30T $27.00m 9564138

EMMANUELA BC 1997 HUDONG 29,321 C4X30T $18.50mUNDISCLOSED

BUYERS-

SELLERS ARE CAPITAL SHIP MANAGEMENT

CORP GREECE - ALSO REPORTED SOLD IN JUNE

2010 FOR $18MIL

9129378

ELISA BC 2005STX

SHIPBUILDING - JIN

28,987 $21.00m ARDMORE IRELANDSELLERS ARE ZACHELLO

GROUP 9313448

AFRICAN CHALLENGER

BC 1984 NAIKAI SETODA 28,215 4X25T $6.50m GREEK BUYERS GREECE

SELLERS ARE WELL SHIPMANAGEMENT &

MARITIME CHINA - SHE WAS ACQUIRED IN APR

2009 FOR $3.6MIL

8319392

ISLAND OF LUCK BC 1985HAKODATE HAKODATE 26,541 4X30T $7.00m

CHINESE BUYERS

CHINA

SELLERS ARE VICTORIA OCEANWAY LTD, GREECE

(PRIAMOS) - SHE WAS ACQUIRED IN MAR 2009

FOR $4.5MIL

8508577

THOR TRAVELLER BC 1985 AKER MTW 24,232 4X25T $3.40mNOBPAC

SHIPPING PTESINGAPORE

SELLERS ARE THORESEN& CO BANGKOK THAILAND 8503060

WILLIAM BC 1995NAIKAI ZOSEN

CORP 23,829 4X30T $14.00mUNDISCLOSED

BUYERS-

SELLERS ARE AUGUST BOLTEN GERMANY 9117375

VINASHIN-5 BC 1983SHIN

YAMAMOTO ZOSENSHO

21,340 C3X25T D1X25T $2.25mTURKISH BUYERS

TURKEY

SELLERS ARE VINASHINOCEAN SHIPPING

VIETNAM. SHE HAD BEEN REPORTED SOLD IN AUG

8301644

RIO NEGRO MPP 1999 GERMANY 20,567 2X60T, 1300 TEU $12.30m DELPHIS NV BELGIUMOTHERS REPORT HER

SOLD AT $13.2m 9161194

MINING STAR BC 2002 HAKATA ZOSEN 18,721 3X35T $14.25mVIETNAMESE

BUYERSVIETNAM

SELLERS ARE TSURUMI KISEN CO LTD, JAPAN 9250945

MOL SILVER FERN CONT 1996IWAGI ZOSEN

CO LTD 17,249 1001 TEU $8.50mUNDISCLOSED

BUYERS-

SELLERS ARE SHOEI KISEN KAISHA LTD JAPAN 9136591

OS SUNSHINE BC 2007ZHEJIANG

LINHAI HAIFENG 15,968 2X25T, 1X30T $5.80mUNDISCLOSED

BUYERS-

SELLERS ARE JOEN SHIPPING CO LTD, KOREA 9396567

NAVIBULGAR BULGARIA

SOLD ENBLOC FEDERAL YANGTZE AND EASTWIND

YATES FOR $27m EACH UNIT TO NAVIBULGAR

BULGARIA. SELLERS ARE FEDNAV CANADA - EX EASTWIND VESSELS SOLD IN MAR 2010 TO FEDNAV FOR $27MIL

EACH

NAVIBULGAR BULGARIA

SOLD ENBLOC CORDOBAAND USHUAIA FOR $61m

FOR BOTH UNITS TO NAVIBULGAR BULGARIA. SELLERS ARE KRISTEN

MARINE SA GREECE




GRANDE LAGOS CAR 2004 CROATIA 14,6505379 CARS -

3600 LM $39.00m NOCC NORWAY

VEHICLES CARRIER - SELLERS ARE GRIMALDI ITALY - INCL BALANCE F

CHARTER 13-14 MOS

9279812

ITAL VERDE CONT 1984NOBISKRUG

WERFT - GERMANY

14,265 1033 TEU $2.00mUNDISCLOSED

BUYERS-

SELLERS ARE EVERGREEN MARINE

CORP TAIWAN - SOLD AS IS TARANTO

8321644

ACCURATE BC 1999 HONDA SAIKI 12,974 2X30T $11.80m 9177791

ACTIVE BC 1998 HONDA SAIKI 12,500 2X30T $11.80m 9177765

BENEVOLENCE MPP 1984NEPTUN

SCHIFFSWERFT 12,720 D5X40T, 428 TEUUNDISCLOSED

BUYERS-

SELLERS ARE JUTHA MARITIMEPUBLIC

THAILAND8310877

RUNNER RORO 1990SCHICHAU SEEBECK 10,140 1974 LM $6.50m

RUSSIAN BUYERS

RUSSIASELLERS ARE FINNLINES

PLC, FINLAND 8807416

FAST ARROW RORO 1979 KAWASAKI HI 10,0651,699 LM, 125

CARS, 136 TRLS, 544 TEUS P&C TERMS

DEMLINE LEBANONSELLERS RAE LEVANT SHIPPING &TECHNICAL

SERVICES, FRANCE7705726

DARTMOOR CONT 1998CELIKTEKNE

TUZLA 9,950 3X40T, 951 TEU $8.40m D'AMICO ITALYSELLERS ARE ANDREW

WEIR SHIPPING UK 9143879

PERSEUS MPP 1998SHIN

KURUSHIMA 8,934C2X30.5T,

D1X30T$7.20m

VIETNAMESE BUYERS

VIETNAMSELLERS ARE KIFUNE

KAIUN KK JAPAN 9181998

INDUSTRIAL CRESCENT

MPP 2002 BARRERAS 8,097 2X200T, 522 TEUUS BASED BUYERS

USA

SELLERS ARE JUNGERHANS MARITIME

SERVICES GMBH, GERMANY

9258193

CHANG YU RORO 1990USUKI

SHIPYARD 5,228 $3.00mCHINESE

GOVERNMENTCHINA

VEHICLES CARRIER - SELLERS ARE FUYO

KAIUN CO LTD, JAPAN - REPORTED SOLD IN JUNE

2009 FOR $11.5MIL

8911267

IBUKI MPP 1991SANYO

ONOMICHI 5,132 D 2X25T 1X20T $1.60mSPARKLE

SHIPPING CO LTD

CHINA SELLERS ARE JAPANESE 9017123

SYOTA MARU REEFER 1994KYOKUYO

ZOSEN CHOFU 5,103 6X5T $8.00mCHINESE BUYERS

CHINASELLERS ARE

COMMERCIAL SA, GREECE

9087908

GREATSHIP REKHA OTHER 2010 SRI LANKA 3,500 2X3589 BHP $23.00m 9491551

GREATSHIP DHRITI OTHER 2008AKER TULCEA

SC 3,240 2X2726 BHP $28.00m 9392834

DMT EMERALD OTHER 2006BENDER

SHIPBUILDING 3,277 9924 BHP $55.30mSURF SUBSEA

INCUSA

OFFSHORE PLATFORM SUPPLY VSL - SELLERS

ARE DEEP MARINE 3 LLC USA

9400693

DMT DIAMOND TUG 2000BENDER

SHIPBUILDING 3,041 3900 BHP $10.00mUS BASED BUYERS

USA


ARE DEEP MARINE 3 LLC USA - SHE WAS

REPORTED LAID UP

9225495

DMT SAPPHIRE TUG 2002BENDER

SHIPBUILDING 3,028 7396 BHP $16.50mOCEANEERING INTRNATIONAL

USA



9264518

DMT TOPAZ TUG 1998BENDER

SHIPBUILDING 2,389 2 X 1950 BHP $6.20mEZRA

HOLDINGS LTDSINGAPORE



9201645

SEACOR CANYON OTHER 2007NANINDAH

MUTIA 1,661 7178 BHP

P&C TERMS

VIETNAMESE BUYERS

VIETNAMOFFSHORE/TUG.

SELLERS ARE SEABULK INTERNATIONAL INC, USA

9359856

KRISTINA REGINA PAX 1960OSKARSHAMNS

VARV 870245 PAX, 119

CABINSUNDISCLOSED

BUYERS-

SELLERS ARE KRISTINA CRUISES OY, FINLAND 5048485

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

ESSAR SHIPPING

PORTSINDIA

SOLD ENBLOC ACCURATE AND ACTIVE FOR $23.6m FOR BOTH UNITS TO ESSAR INDIA -

GERMAN SELLERS

WINTERMAR PT INDONESIA

ENBLOC GREATSHIP REKHA (W.M. MAKASSAR) & GREATSHIP DHRITI FOR $23MIL AND $28MIL EACH

PLATFORM SUPPLY VESSEL - SELLERS ARE

GREAT EASTERN SHIPPING CO LTD INDIA




DRY CARGO 2ND HAND MARKET STATISTICS

country units %

2010 UNITS OUTLAY$ DWT GREECE 114 17.17%

JANUARY 84 $1,297.44m 3,952,288 GERMANY 84 12.65%

FEBRUARY 82 $1,383.07m 3,896,685 CHINA 76 11.45%

MARCH 161 $3,532.12m 7,367,241 JAPAN 65 9.79%

APRIL 71 $1,087.61m 3,404,042 FRANCE 33 4.97%

MAY 72 $1,104.90m 3,048,860 SINGAPORE 27 4.07%

JUNE 79 $1,957.37m 4,042,023 KOREA 20 3.01%

JULY 56 $1,248.85m 2,270,439 ITALY 20 3.01%

AUGUST 59 $946.55m 2,032,025 TURKEY 20 3.01%

SEPTEMBER 0 $0.00m 0 NORWAY 19 2.86%

OCTOBER 0 $0.00m 0 USA 19 2.86%

NOVEMBER 0 $0.00m 0 DENMARK 15 2.26%

DECEMBER 0 $0.00m 0 UK 12 1.81%

TOTAL 664 $12,557.91m 30,013,603 CYPRUS 11 1.66%

THAILAND 10 1.51%

RUSSIA 9 1.36%

COUNTRY UNITS % OUTLAY ($) % DWT % VIETNAM 8 1.20%

GREECE 164 24.70% $4,214 33.55% 8,781,892 29.26% PHILIPPINES 7 1.05%

CHINA 142 21.39% $2,111 16.81% 9,540,771 31.79% ALL OTHER 79 11.90%

TURKEY 32 4.82% $224 1.78% 559,762 1.87% UNDISCL 16 2.41%

NORWAY 26 3.92% $699 5.57% 1,147,440 3.82% TOTAL 664 100.00%

USA 28 4.22% $1,411 11.23% 634,659 2.11%

GERMANY 22 3.31% $302 2.40% 824,432 2.75%

INDIA 15 2.26% $348 2.77% 848,275 2.83%

INDONESIA 14 2.11% $150 1.20% 411,046 1.37%

RUSSIA 13 1.96% $164 1.30% 308,722 1.03%

VIETNAM 13 1.96% $147 1.17% 305,784 1.02%

SYRIA 12 1.81% $38 0.31% 226,214 0.75%

KOREA 11 1.66% $181 1.44% 370,152 1.23%

SINGAPORE 9 1.36% $207 1.65% 633,131 2.11%

ISRAEL 7 1.05% $116 0.92% 417,312 1.39%

UNDISCL 75 11.30% $1,063 8.46% 2,576,850 8.59%

ALLOTHER 81 12.20% $1,299 10.35% 2,844,473 9.48%

TOTAL 664 100.00% $12,558 100.00% 30,013,603 100.00%

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 5 5 0 0 0 3 11 59

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 420 0 118 54 1 0 0 27 44 664

SELLERS - Greek sellers are well increasing their lead in the sale stats table. Greeks are 1st with 114 units (104 last) while German sellers are 2nd with 84 units (80 last), Chinese sellers

3rd with 76 units (68 last) and Japanese sellers 4th with 65 units (59 last). French sellers mainly due to Bourbon's selling

spree of 2 month's ago, have kept 5th place with 33 units.

BUYERS - Greek buyers overtaken the Chinese and are expanding on the lead!!! Today with 2/3's of 2010 way past us, Greece has acquired 13 more units this month and have

a total of 164 units (151 last) and are topping the table. In Aug 2010, China acquired 12 more for a combined yearly

total of 142 units (130 last) and are left 2nd for more than 3 months now. Turkish buyers are 3rd with 32 units (27 last)

while USA buyers are 4th with 28 units, with Norwegian buyers 5th with 26 units (22 last). It is interesting to note

that Greeks have spent $4.2bil usd which is exactly double money than the Chinese spending of $2.1bil. Greeks are lagging slightly behind the Chinese in terms of carrying

capacity having acquired 8.8 vs 9.5mil tonnes.

August 2010 is yet another soft month in terms of Sale and purchase activity. Freight markets recovered and gained more than 50% fo their heavy losses. However during this shortlived

mini-collapse the ships prices did not really follow the downward pressure and sustained their previous levels. This

way, potential buyers never got the bargain they expected and patiently had held back for, while Sellers say thank you that

their present prices hold firm and ship values did not roll down hill. However fewer deals than normal, of a record low capital

expenditure ($946mil usd) were performed in Aug 2010,

as the level of uncertainty is still evident in the Dry bulk markets. On the other hand if China can so easily manipulate

the markets and dictate their freight levels for their iron/ore and coal intakes, one may wonder if the dry bulk market levels are fictitius or really represent world economy. When 40% of the

dry bulk trades are mainly Chinese Capes imports and 10% of the dry bulk market is Intra-China shipping trades then we talk of a near 50% manipulation of the dry bulk sector by China...

and that is alarming...!

MONTHLY UNIT SALE ACTIVITY

2010 DRY CARGO STATISTICS - BUYERS

DRY CARGO UNITS SOLD - BREAKDOWN PER MONTH 2010

SELLERS STATS 2010




CHANGE

FROM 30/8/2009

NB CAPESIZE $96.8 $62.0 $69.5 12%NB PANAMAX $57.5 $39.0 $43.5 12%

NB HANDYMAX $49.5 $32.0 $34.0 6%NB HANDYSIZE $40.2 $27.0 $30.0 11%

CHANGE

FROM 30/8/2009

5y CAPESIZE $150.5 $50.5 $57.0 13%5y PANAMAX $89.4 $34.0 $38.0 12%

5y HANDYMAX $74.4 $27.5 $29.7 8%5y HANDYSIZE $54.4 $22.1 $26.0 18%

CHANGE

FROM 30/8/2009



CHANGE

FROM 30/8/2009



CHANGE

FROM 30/8/2009

20y CAPESIZE $77.5 $19.3 $18.0 -7%20y PANAMAX $47.0 $11.1 $16.0 44%


1995 built (15Y) OLD BULKERS PRICE COMPARISON

TYPE 30/08/08

TYPE 30/08/08

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

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

TYPE 30/08/09

TYPE

27/08/10

27/08/10

30/08/09

30/08/0930/08/08

27/08/10

27/08/10


30/08/09


NB BULKERS PRICE COMPARISON

27/08/10

30/08/08

30/08/09


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

TYPE

30/08/08

Dry cargo units sold 2010 vs 2009

5972

100

75

109 108

71

104 100

80

161

59

93

5256

8482

7172

79

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

$1,249

$947$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

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-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

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


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

$110$125

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


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

$105

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


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

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K




2010

NAME TYPE YEAR BUILT DWT PRICEPRICE NOTE

BUYERS NAME

BUYERS NATION

NOTES IMO

DUBAI TITAN TANKER 1993DAEWOO

SHIPBUILDING 299,994 $33.00m

PFS SHIPPING- THE

SHIPOWNING ARM OF ABG

SHIPYARD

INDIA

SELLERS ARE EMARAT MARITIME LLC, UAE.

OTHERS REPORTED HER SOLD AT $36m

9039626

TI CREATION TANKER 1998 DAEWOO 298,324 $57.00m COILED DH EMBIRICOS GREECE

SELLERS ARE EURONAV SHIP MANAGEMENT FRANCE - SHE WAS

REPORTED SOLD IN MAR 2008 FOR $124MIL - DEAL

THEN FAILED

9160190

DUBAI PARADISE TANKER 2009 HANJIN HI 114,000 $57.50m 9402471

DUBAI PRINCESS TANKER 2009 HANJIN HI 114,000 $57.50m 9402469

ONOZO TANKER 1999 JAPAN 100,020 $8.50mCHINESE BUYERS

CHINA

SOLD FOR CONVERSION -SELLERS ARE DYNACOM TANKERS MANAGEMENT

LTD GREECE

8818910

SOTRA SPIRIT TANKER 1995HYUNDAI HEAVY

INDS 95,420 - -KASSOS

MARITIMEGREECE - 9077343

CHANTAL TANKER 2009 SUNGDONG 74,471 $54.50m 9382982

WORLD HARMONY TANKER 2009 SUNGDONG 74,329 $54.00m 9382970

SELINI TANKER 2009 SUNGDONG 74,296 $54.00m 9382956

SALAMINA TANKER 2009 SUNGDONG 74,251 $54.00m 9382968

STEALTH ARGENTINA

TANKER 2009 GUANGZHOU 50,326 $40.00mKIRK KAPITAL

A/SDENMARK OLD SALE 9476812

SPP RESALE TANKER 2010 SPP SACHEON 50,000 $39.00mUS BASED BUYERS

USADELIVERY EX YARD AUG

2010

INSURGENTES TANKER 2006 HYUNDAI MIPO 47,872 $43.50mUNDISCLOSED

BUYERS-

SALE INCLUDES T/C ATTACHED UNTIL FEB 2014 AT $19.900 DAY -

SHE WAS SOLD TO THE MEXICAN SELLERS IN APR 2009 BY CAPITAL

SHIPMANAGEMENT INC

9327449

FORMOSA TWELVE TANKER 2004SHIN

KURUSHIMA 45,840 $25.25m GREEK BUYERS GREECE

SOLD ON SUBS ON BOTH SIDES - SELLERS ARE FORMOSA PLASTICS

TIWAN

9271951

AEGEAN GLORY TANKER 1992 JAPAN 45,691 $8.00mUNDISCLOSED

BUYERS-

SELLERS ARE ARCADIA SHIPMANAGEMENT

GREECE - OTHER REP SAYS $7.6MIL

9015345

AMOY TANKER 1992IMABARI

MARUGAME 41,490 $4.00mINDONESIAN

BUYERSINDONESIA

SELLERS ARE TANKER PACIFIC MANAGEMENT

SINGAPORE9040443

HIGH LAND TANKER 1992 JAPAN 41,450 $4.00mINDONESIAN

BUYERSINDONESIA

SELLERS ARE MAGNUS CARRIERS GREECE 9018426

SOLD ENBLOC DUBAI

PARADISE, DUBAI

PRINCESS FOR $57.5m

EACH UNIT TO BRIGHTOIL

PETROLEUM

TANKER SHIPS SOLD DURING THIS MONTH AUGUST

BRIGHTOIL PETROLEUM

CHINA

SOLD ENBLOC DUBAI PARADISE, DUBAI

PRINCESS FOR $57.5m EACH UNIT TO BRIGHTOIL

PETROLEUM. SELLERS ARE EMARAT MARITIME

LLC, UAE - ALSO REPORTED SOLD INA 4 VSL ENBLOC DEAL TO EMPIRE NAVIGATION GREECE IN FEB 2010.

SOLD ENBLOC CHANTAL WORLD

HARMONY SELINI AND

SALAMINA FOR$218m FOR ALL 4 UNITS TO TSAKOS

ENERGY GREECE

TSAKOS ENERGY

NAVIGATIONGREECE

SOLD ENBLOC CHANTAL WORLD HARMONY SELINI

AND SALAMINA FOR $218m FOR ALL 4 UNITS

TO TSAKOS ENERGY GREECE




MOUNT FUJI TANKER 2003 SAIKI HI 40,055 $24.00mUNDISCLOSED

BUYERS-

SOLD ON SUBJECTS - SELLERS ARE DONNELLY TANKER MANAGEMENT

CYPRUS

9260079

CAPETAN COSTIS TANKER 1989 JAPAN 39,542 $4.50mSILVERCREST NAVIGATION

NIGERIA

OTHER REPORTS ERRONEOUSLY SAY

GREEK BUYERS - SELLERS ARE TOMASOS BROTHERS INC - GREECE

8806888

PALMERSTON TANKER 1990INCHON

ENGINEERING 37,700 $3.90mUNDISCLOSED

BUYERS-

SOLD FOR CONVERSION BASIS SS/DD DUE -

SELLERS ARE TEEKAY8814639

DAI HUNG TANKER 1988SHIN

KURUSHIMA 29,997 $3.00m 8704353

DAI LONG TANKER 1988KANASASHI

ZOSEN 29,996 $3.00m 8801527

ELISA TANKER 2005STX

SHIPBUILDING 28,987 $21.00m IMO II/III ARDMORE IRISHSELLERS ARE MOTIA

COMPAGNIA DE NAVIGAZONE SPA, ITALY.

9313448

CHEMSTAR VENUS TANKER 1999SHIN

KURUSHIMA 19,455 $13.50m SINOCHEM CHINAFULLY STAINLESS STEEL SELLERS ARE IINO KAIUN

KAISHA JAPAN9185841

CHEMSTAR ACE TANKER 1997 ONISHI 19,000 $7.50mGLORY SHIP

MANAGEMENT

SELLERS ARE IINO MARINE SERVICE CO

JAPAN9145308

BRYGGEN TANKER 2003 AKER TULCEA 16,533 $16.00m 9043093

VAAGEN TANKER 2006 AKER TULCEA 16,000 $19.00m 9043081

CURZOLA TANKER 1993ULJANIK BRODOG 14,070 $6.50m

IMO II/IMO III/ DH

NIGERIAN BUYERS

NIGERIASELLERS ARE OTTAVIO

NOVELLA SPA, ITALY 9033907

SUNRISE LILAC TANKER 2004SHIN

KURUSHIMA 8,629 -UNDISCLOSED

BUYERS-

SELLERS ARE TAIHEIYO KAIUN CO LTD JAPAN 9284714

SANTA CLARA GAS 1989KURINOURA

YAWATAHAMA 7,850 $2.00m TRANSGAS PERU

OTHER REPORT SAYS $2.5MIL - SELLERS ARE

HARTMANN SCHIFFAHRTS GMBH &

CO GERMANY

8417261

GLOBAL SATURN TANKER 2001 HIGAKI 7,786 $7.50m DHSINGAPORE

BUYERSSINGAPORE

SELLERS ARE GLOBAL MARINE SERVICE CO LTD

JAPAN9236913

SUNRISE SUZURAN II

TANKER 2002 SHITANOE 6,536 $7.50m THAI BUYERS THAILANDSELLERS ARE KK KYOWA

SANSHO JAPAN 9269398

AGIA THEODORA TANKER 1993BRAILA

SANTIERUL NAVAL

4,586 $1.00mUNDISCLOSED

BUYERS-

ASPHALT / BITUMEN TANKER - SELLERS ARE CONTINENTAL SHIPPING AND TRADING GREECE

8607634

COTSWOLD GAS 1989KURINOURA

YAWATAHAMA 4,143 $2.00mFAR EASTERN

BUYERSFAR EAST

LPG - SELLERS ARE DORIAN HELLAS SA

GREECE8817992


ATLANTICA SHIPPING AS

NORWAYENBLOC BRYGGEN AND VAAGEN FOR 16MIL AND

19MIL EACH

SOLD ENBLOC DAI HUNG AND DAI LONG TO INDONESIAN BUYERS FOR

$3m EACH UNIT

INDONESIAN BUYERS

INDONESIA

SOLD ENBLOC TO INDONESIAN BUYERS FOR $3m EACH UNIT.

SELLERS ARE VIETNAM OCEAN SHIPPING

VIETNAM




TANKER 2ND HAND MARKET STATISTICS

COUNTRY UNITS %

2010 UNITS OUTLAY$ DWT GREECE 53 18.79%

JANUARY 57 $1,096.58m 3,446,410 JAPAN 32 11.35%

FEBRUARY 33 $691.20m 2,470,891 CHINA 23 8.16%

MARCH 37 $608.05m 2,798,832 SINGAPORE 22 7.80%

APRIL 37 $1,085.30m 2,768,206 TURKEY 18 6.38%

MAY 45 $1,729.10m 5,133,688 GERMANY 15 5.32%

JUNE 17 $578.62m 1,607,662 KOREA 14 4.96%

JULY 22 $831.15m 3,225,816 UAE 13 4.61%

AUGUST 34 $735.65m 1,972,639 NORWAY 12 4.26%

SEPTEMBER 0 $0.00m 0 ITALY 11 3.90%

OCTOBER 0 $0.00m 0 USA 9 3.19%

NOVEMBER 0 $0.00m 0 CANADA 8 2.84%

DECEMBER 0 $0.00m 0 UK 8 2.84%

TOTAL 282 $7,355.64m 23,424,144 CYPRUS 7 2.48%

MALAYSIA 5 1.77%

DENMARK 4 1.42%

COUNTRY UNITS OUTLAY ($) % DWT % LATVIA 3 1.06%

GREECE 47 $2,596 35.30% 7,282,949 31.09% SPAIN 3 1.06%

NORWAY 16 $522 7.09% 1,484,866 6.34% ALL OTHER 18 6.38%

INDONESIA 16 $180 2.44% 676,949 2.89% UNDISCL 4 1.42%

USA 15 $801 10.89% 1,560,195 6.66% TOTAL 282 100.00%

CHINA 15 $264 3.59% 1,307,427 5.58%

UAE 9 $278 3.78% 387,807 1.66%

INDIA 9 $143 1.95% 749,193 3.20%

SINGAPORE 8 $113 1.54% 629,086 2.69%

DENMARK 7 $184 2.50% 289,092 1.23%

BRAZIL 6 $133 1.80% 1,787,302 7.63%

THAILAND 6 $60 0.82% 762,088 3.25%

NIGERIA 6 $23 0.31% 147,921 0.63%

FAR EAST 5 $19 0.25% 34,155 0.15%

UNDISCL 51 $752 10.22% 3,228,154 13.78%

ALL OTHER 66 $1,290 17.53% 3,096,960 13.22%

TOTAL 282 $7,356 100.00% 23,424,144 100.00%

2010VLCC & ULCC

SUEZMAXAFRAMAX

110KPANAMAX

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 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 37 23 33 18 53 99 1 18 282

TANKER UNITS SOLD - BREAKDOWN PER SIZE AND MONTH 2010

SELLERS - Table on the RIGHT shows the nationality of theSellers. Greek Sellers sold 10 more units in Aug 2010 and are

in number one position seling-off 53 units (43 last).

SELLERS STATS 2010

MONTHLY UNIT SALE ACTIVITY

BUYERS - Greek buyers are always leading the tanker buyers league. They have acquired 7 more tankers this month and have tallied a total of 47units (40 last) of 7.3million DWT carrying capacity, and have forked out a massive $2.6billion USD. Norwegian buyers are sharing 2nd place with 16 units, together with Indonesian buyers that have got 4 more units this month. USA buyers added only one more unit this month, and have 15 units with the American buyers having spent a substantial amount $800mil, sharign the 5th spot with Chinese buyers who have acquired 15 units too but have spent only $264mil usd.

2010 TANKER buyer STATISTICS

After two months of rather low Tanker sale and purchase activity, August picked up some good pace, and some interesting tanker deals worth mentioning were recorded. 34 deals this month nearly as many

performed in Jun/Jul 2010, with a low capital expenditure as most deals involved tankers smaller

than 35k, with a low price tag. Despite the frenzy of lasttwo months this month a somewhat lesser focus has

been put on Newbuilding tanker orders but still VLCC's and Suezmaxes were on target. We do not observe any

serious overcapacity threat by the existing Tanker orderbook but it is worth noting that 209 tanker units of a total of 12mil tonnes have been ordered during Jan-

Aug 2010 period and that is not and should not be negligible.

Japanese sellers are well 2ndwith 32 units (27 last), while

Chinese sellers are 3rd unchanged with 23 ships, with

Singapore based sellers 4th unchanged too with 22 units

sold during the period Jan-Aug 2010.




CHANGE

FROM 30/8/2009

VLCC $157.5 $110.0 $112.0 2%SUEZMAX $96.6 $71.5 $72.9 2%AFRAMAX $78.0 $50.5 $58.6 16%PANAMAX $65.0 $45.2 $48.0 6%MR PROD $55.6 $38.0 $37.5 -1%

CHANGE

FROM 30/8/2009

VLCC $156.0 $77.0 $89.0 16%SUEZMAX $106.5 $60.8 $61.8 2%AFRAMAX $77.0 $40.3 $47.0 17%PANAMAX $60.5 $37.5 $39.0 4%MR PROD $53.0 $28.2 $28.0 -1%

CHANGE

FROM 30/8/2009

VLCC $132.0 $59.0 $63.0 7%SUEZMAX $80.0 $43.0 $44.6 4%AFRAMAX $64.0 $30.0 $34.0 13%PANAMAX $49.0 $27.2 $25.0 -8%MR PROD $43.0 $22.7 $19.0 -16%

CHANGE

FROM 30/8/2009

VLCC $106.0 $43.0 $40.0 -7%SUEZMAX $62.7 $27.8 $25.0 -10%AFRAMAX $40.4 $16.5 $18.0 9%PANAMAX $32.0 $16.0 $16.0 0%MR PROD $29.0 $11.8 $13.0 10%

CHANGE

FROM 30/8/2009

VLCC $39.0 $17.1 $16.0 -6%SUEZMAX $34.0 $14.6 $12.5 -14%AFRAMAX $25.7 $9.4 $9.0 -4%PANAMAX $20.0 $7.6 $7.0 -8%MR PROD $15.5 $6.1 $4.6 -25%

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

2005 built (5Y old) TANKERS PRICE COMPARISON

TYPE 30/08/08

30/08/09

NB TANKERS PRICE COMPARISON

TYPE

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

TYPE 30/08/08

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


30/08/08

27/08/1030/08/08

30/08/09 27/08/10

27/08/10

30/08/09TYPE

27/08/10


30/08/09


TYPE 30/08/08 30/08/09 27/08/10

NEWBUILDING TANKER PRICES 2000 - 2010

$24

$44

$64

$84

$104

$124

$144

$164

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-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

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-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

0

17

4537

33

57

0

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

$0 $0

$579$691

$1,097 $1,085

$736$831

$608

$1,729

$0 $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

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


$0

$20

$40

$60

$80

$100

$120

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


$0$5

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

Jul-0

0

Jan-

01

Jul-0

1

Jan-

02

Jul-0

2

Jan-

03

Jul-0

3

Jan-

04

Jul-0

4

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K




NEWBUILDING ORDERS AUGUST 2010UNITS TYPE TONNAGE YEAR PRICE

4 BC 205,000 2012‐13 56.5$

1 BC 180,000 2011 55.0$

2 BC 180,000 2012 60.0$

2 BC 179,600 2011‐12 55.0$

2 BC 176,000 2011 39.0$

1 BC 95,000 2012 38.0$

1 BC 95,000 2012 38.0$

1 BC 95,000 2012 38.0$

2 BC 92,500 2011‐12 70.0$

4 BC 92,500 2011‐2012 39.0$

5 BC 82,100 3Q 2012 ‐ 3Q

2014

4 BC 82,000 2012

1 BC 82,000 2012

8 BC 82,000 2012 34.0$

1 BC 82,000 2011 35.5$

2 BC 82,000 2011 35.5$

1 BC 82,000 2011

2 BC 81,500 2011

4 BC 81,500 2011

1 BC 80,000 2011 34.5$

2 BC 76,000 2012

1 BC 60,000 2013

4 BC 58,400 2012‐13

2 BC 57,000 48.0$

6 BC 46,000 2012 29.5$

4 BC 46,000 2012 29.5$

4 BC 45,000 2012

4 BC 40,000 2012‐13 25.0$

2 BC 37,000 2013 28.0$

1 BC 37,000 2012 27.5$

2 BC 37,000 1H 2012 27.0$

2+2 BC 35,000 2012 26.0$

2 BC 34,000 8/2011 ‐

11/2011

4 BC 32,000 2013‐14

2 BC 17,500 2012

2 CONT 125,000 2014 112.5$

2 CONT 33,000 2012 40.0$

2 CONT 25,000 2012 30.0$

2 CONT 14,000 2/2012‐

4/2012

2 GAS 82000CBM 4Q2012 107.5$

JIANGSU EASTERN

HYUNDAI HI

SHANGHAI WAIGAOQIAO

JIANGSU EASTERN

JIANGSU EASTERN

HHI

QIDONG DAOLA POLEMBROS SHIPPING

YARD NOTESBUYER’S NAME

JIANGSU EASTERN

COSCO DALIAN SHIPYARD

JANGSU NEW YANGZIJIANG

TSUNEISHI FUKUYAMA

SHIPBUILDING

HUYNDAI MIPO

SPP PLANT & SHIPBUILDING

JIANGSU HANTONG (CHINA)

SUNGDONG SHIPBUILDING

SUNGDONG SHIPBUILDING

HYUNDAI SAMHO

HYUNDAI

HYUNDAI SAMHO

JINHAI HI

HUDONG ZHONGHUA

OSHIMA

TSUNEISHI ZHOUSAN

XIAMEN

CHENGXI SY

BOHAI SHIPYARD

WUCHANG

TAIZHOU SANFU

SAIIKI HEAVY IND

SAIKI HI

HYUNDAI MIPO DOCK

JIANGDONG

DAESUN

HAKODATE DOCK

MTG DOLPHIN OLG BULGARIA

DAEWOO

JIANGSU YANGZJIANG

JIANGSU YANGZJIANG

DAESUN

HYUNDAI HEAVY INDUSTRIES

ORIENTAL OCEAN SHIPPING

BLUE PLANET SHIPPING

Z&G HALCOUSSIS

THIRD MILLENIUM SHIPPING

HONG KONG BASED BUYERS

BLUE PLANET SHIPPING

DONG‐A TANKER CO

DONG‐A TANKER CO

NEU SEESCHIFFAHRT

UNITED OCEANS ‐ SINGAPORE

KYLA SHIPPING

ANGLO SWISS MARITIME

JIMEI HUA SHIPPING

GREEK BUYERS

SINOKORMERCHANT

MEADWAY SHIPPING AND

TRADING INC

CHANG MYUNG SHIPPING

BLUE MARINE (SOUTH KOREA)

PL SHIPPING

IOLCOS HELLENIC

TATA NYK

KAMBARA KISEN

LANYUE ENERGY DEVELOPMENT

SHENHUA ZHONGHAI SHIPPING

TIANJIN ZHONGHAI HUARUN

SHANGHAI TIME SHIPPING

GERMAN OWNERS

SHIH WEI NAV CO (TAIWAN)

DAICHI CHUO

THENAMARIS

THENAMARIS

CHELLARAM SHIPPING

GRAIG SHIPPING

COSMOSHIP MANAGEMENT

GREECE

DAIICHI CHUO KISEN JPN

COSMOSHIP MANAGEMENT

GREECE

PETREDEC BERMUDA

NAVIBULGAR

NEPTUNE ORIENT LINES

EXCESS $60MIL

OPTION EXCERCISED TWO NOW

ORDERED

$272 MIL TOTAL

60/40 PAYMENT TERMS

3 ORDERED

PLUS 1 OPTION DELIVERY EARLY

2012

JOINT VENTURE BETWEEN TATA

STEEL OF INDIA AND NYK JAPAN

6 UNITS

SHALLOW DRAFT FOR INTRA

CHINA TRADING 4.5METERS

DRAFT

1ST QUARTER 2012 DELY ‐ CRANES

4X30T

REPLACEMENT FOR

CANCELLATION OF 2 25K DWT

CHEMICAL TANKER VESSELS

10700 TEU

2500 TEU. LETTER OF INTENT

SIGNED AT THIS STAGE‐ OPTION

FOR TWO MORE

1800 TEU. LETTER OF INTENT

SIGNED AT THIS STAGE. OPTION 2

MORE

REPLACEMENT FOR

CANCELLATION OF 2 25K DWT

CHEMICAL TANKER VESSELS ‐ 1043

TEU




6 GAS 11,000 2012‐2013

3 MPP 14,000 2011‐12

1 OTHER 15,000 2011 150.0$

1 OTHER 2012 500.0$

1 RORO 11,000 2012

5 TANKER 319,000 2012 107.5$

2 TANKER 318,000 2013 98.0$

4+2 TANKER 163,000 2013‐2015 61.0$

2 TANKER 159,000 2012

2 TANKER 157,000 2013 61.0$

2 TANKER 157,000 2013 61.0$

2 TANKER 157,000 2013 63.0$

1 TANKER 115,000 2012

2 TANKER 105,000 2012 70.0$

2 TANKER 80,000 2013‐14 200.0$

3 TANKER 50,000 2013

3 TANKER 6,500 2011‐12 31.0$


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 57 156 70 9 15 51 8 6

AUGUST 57 147 93 3 8 32 8 3SEPTEMBER 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 326 826 481 22 29 210 32 55DRY BULK ORDERS 2010

CAPES 95 UNITSKAMSARMAX 150 UNITS

PANAMAX 35 UNITSSUPRAMAX 62 UNITSHANDYMAX 36 UNITS

378 TOTALTANKER ORDERS 2010

VLCC 46 UNITSSUEZMAX 70 UNITSAFRAMAX 15 UNITS

LR 16 UNITSMR 16 UNITS

163 TOTAL

DINGHENG JIANGSU ANTHONY VEDER 6500 CBM‐ LPG/ETHYLENE‐

CRUDE OIL TANKER

EXCESS 70m

LNG‐ 155000 CUM OPTION TWO

MORE TRI FUEL OPERATIONAL

OWNER IS GASLOG

NEWBUILDING ORDERS BREAKDOWN by TYPE PER MONTH, for YEAR 2010

HYUNDAI MIPO

SAMSUNG HI

SAMSUNG

JIANGSU RONGSHENG

JIANGSU RONGSHENG

SAMSUNG

THENAMARIS

AKTIF TURKEY

UNISEA SHIPPING

AMERICAN EAGLE TANKERS

CERES LNG SERVICES

MITSUI OSK LINES

COSCO DALIAN SHIPYARD

HHI

JIANGSU RONGSHENG

MITSUBISHI

HYUNDAI HI

SHANGHAI WAIGAOQIAO

BOHAI

DAEWOO

HIGAKI ZOSEN

DAEWOO

CINER DENIZCILIK

DENSA SHIPPING

GOLDEN ENERGY NAVIGATION

RWE INNOGY

DALIAN DEEPWATER

DEVELOPMENT LTD

KAWASAKI KISEN (JAPAN)

BRIGHTOIL

WAH KWONG SHIPPING

OFER SHIPS HOLDINGS ISRAEL

SHIH WEI NAV CO (TAIWAN)

OPTION FOR TWO MORE UNITS

OF 12,000CBM ‐ 1ST LPG CARRIERS

IN OFER FLEET

CONSTRUCTION VESSEL. OPTION

ONE MORE. SELF ELEVATING. SELF

PROPELLED PLATFORM ABLE TO

TRANSPORT & INSTALL THE

LARGEST AVAILABLE OFFSHORE

WIND TURBINES INCLUDING

FOUNDATIONS. TWO NOW

ORDERED

DRILL SHIP. DP3. INTERNATIONAL

OPERATIONS. DRILLING DEPTH UP

TO 9.159 METERS IN DEEP WATER

DEPTHS UP TO 3050 METERS.

ENHANCED WELL INTERVENTION

CAPABILITIES. VESSEL WAS

ORIGINALLY CONTRACTED BY MPF

CORP, NORWAY BUT ACQUIRED

BY COSCO DALIAN SHIPYARD IN

AN ENFORCED ASSET SALE BY MPF

CRUDE OIL TANKER

OPTION 2

5 UNITS

CRUDE OIL TANKER ‐ 1 PLUS 1

OPTION

DELY 2ND HALF 2013 ‐ 2015

NEW BUILDING ORDERS - SHIPTYPES FOR 2010

BC, 481, 58%

MPP, 22, 3%

CONT, 29, 3%

TANKER, 210, 25%

LNG/LPG, 32, 4%

ALL OTHER, 55, 7%

DRY BULK ORDERS 2010

7 7 93

1712

73 4 14

1 7

2

10 9

24

27 24 23

299 6

12

14

10 14 10 20

14

14

0

10

20

30

40

50

60

70

Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10

CAPES

KAMSARMAX

PANAMAX

SUPRAMAX




2010NAME TYPE YEAR BUILT DWT LDT PRICE BREAKER IMO

SHINYO ALLIANCE TANKER 1991MITSUBISHI

NAGASAKI248,034 31,800 445$ PAKISTAN 8919130

CHI LANG TANKER 1976 GOTAVERKEN 155,505 23,444 ‐ ‐ 7389077

FIVE STARS GLORY BC 1989KAWASAKI

HEAVY INDS 146,387 18,803 370$ CHINA 8715613

KRITI EPISKOPI TANKER 1992HARLAND &

WOLFF BEL 145,242 19,720 465$ PAKISTAN 8904472

INTEGRA DUCKLING BC 1981KAWASAKI

HEAVY INDS 134,828 18,014 425$ PAKISTAN 7921837

VENTURER BC 1981 HYUNDAI HI 127,907 20,016 437$ INDIA 7917850

OCEAN POWER TANKER 1983SCOTT LITHGOW

PGLS127,800 21,415 ‐ ‐ 7925728

STELLA TANKER 1990SUMITOMO HI

OPPAMA 96,668 13,203 285$ INDIA 8900490

SEA JAGUAR TANKER 1985KAWASAKI

HEAVY INDS 89,600 14,120 325$ AS IS 8307129

ORIENTAL HOPE BC 1984TSUNEISHI

SHBLDG ‐ 87,221 14,555 ‐ ‐ 8315308

BW RAGNHILD TANKER 1986NORD ET MED

LA CIOT63,258 21,610 420$ INDIA 8302985

ARAMIS TANKER 1983ONOMICHI

DOCKYARD CO L 59,459 14,176 470$ PAKISTAN 8117081

EGYPT GAS TANKER 1977 FRANCE 54,158 19,779 435$ INDIA 7359876

JAG PRANAM TANKER 1984 ODENSE LINDO 50,600 10,137 435$ INDIA 8321383

ITB PHILADELPHIA TANKER 1984 HALTER 47,247 7,888 ‐ AS IS 8641719

COLORADO VOYAGER TANKER 1976 FMC CORP 39,842 10,293 ‐ ‐ 7391238

KRITI FILOXENIA TANKER 1986 BRODOSPLIT 39,449 10,650 465$ INDIA 8420256

SHOGUN TANKER 1985 JAPAN 39,016 8,640 430$ PAKISTAN 8419025

IRENE E.M. BC 1980 EMAQ 35,023 8,913 370$ INDIA 7433593

JEANNIE III BC 1977SUMITOMO HI

URA34,537 7,822 338$ CHINA 7426215

TOBA CAR 1979MITSUBISHI

KOBE 31,396 18,990 ‐ CHINA 7705972

TAPIOLA CAR 1978MITSUBISHI

NAGASAKI 30,464 19,800 ‐ CHINA 7705934

MORNING GLORY TANKER 1988 JAPAN 29,999 6,037 405$ CHINA 8806369

LAUREL BC 1985 JAPAN 26,528 5,672 ‐ AS IS 8316352

NORSUL SOBRAL BC 1982 CCN MAUA 26,500 7,296 ‐ BANGLADESH 7433098

FREE DESTINY BC 1982GEORGI

DIMITROV SHI 25,321 7,790 418$ INDIA 8128157

TALARA TANKER 1978 SIMA CALLAO 25,244 6,000 ‐ ‐ 7406289

GRACE STAR TANKER 1985 FRANCE 23,353 7,082 405$ CHINA 8128200

SUPREME GAS 1971 CNIM 21,945 9,888 ‐ INDIA 7035494

SIMA TINA CONT 1982 FLENSBURGER 20,758 7,088 398$ INDIA 8026036

NANA TANKER 1981 KOREA 19,999 6,111 418$ PAKISTAN 7925039

MSC SARISKA CONT 1971LUEBECKER

FLENDER 18,909 8,500 ‐ INDIA 7107780

DYNASTY MPP 1977UWAIIMA

ZOSENSHO18,434 4,784 395$ INDIA 7718383

DESPINA BC 1982 POLAND 18,234 8,002 430$ INDIA 8030881

GREEN CYPRESS TANKER 1985UWAJIMA

ZOSENSHO 17,722 5,432 406$ ‐ 8505161

PACIFIC BREEZE CAR 1986KANASASHI

ZOSEN ‐ T 17,271 14,000 ‐ CHINA 8507626

PIYA BHUM MPP 1985KOREA SHBLDG

& ENG 16,356 5,046 295$ INDIA 8406975

SELLERS ARE SEAFORCE SHIPPING NIGERIA

PRODUCTS TANKER

AS IS MALAYSIA ‐ ENBLOC MORNING GLORY

AND GRACE STAR‐ SELLERS ARE CHINESE

LNG TANKER ‐ SELLERS ARE ARGO SYSTEMS

FZE UAE

CONTAINER SHIP (FULLY CELLULAR) SELLERS

ARE SIMATECH SHIPPING & FORWARDING

UAE ‐ 1152 TEU

AS IS MALAYSIA ‐ ENBLOC MORNING GLORY

AND GRACE STAR‐ SELLERS ARE CHINESE

CASUALTY ‐ AS IS MEXICO ‐ ON TOW TO

BREAKERS ‐ SELLERS ARE NACHIPA CHILE

SELLERS ARE NORSUL NAVEGACAO BRAZIL

SELLERS ARE FREE BULKERS SA GREECE. OLD

SALE

SELLERS ARE CHIAN SPIRIT MARITIME

GREECE. BASIS DELIVERY INDIA UNDER TOW.

SELLERS ARE COURAGE MARINE TECH

VEHICLES CARRIER ‐ SELLERS ARE WILSHIP

NORWAY

VEHICLES CARRIER ‐ SELLERS ARE WILSHIP

NORWAY

SELLERS ARE U.S. SHIPPING PARTNERS LP

USA ‐ TANK BARGE

PRODUCTS TANKER ‐ SELLERS ARE CHEVRON

USA

SELLERS ARE AVIN INTERNATIONAL GREECE

SOLD AS IS MEXICO TO BE TOWED TO

PAKISTAN ‐ SELLERS ARE UAE BASED

INCL ABT 800 TS IFO ROB ‐ SELLERS ARE

AUGUSTEA GROUP ITALY

SELLERS ARE HIN LEONG TRADING

SINGAPORE

CRUDE/OIL PRODUCT TANKER ‐ SELLERS ARE

AK SHIPPING & TRADING GREECE

SELLERS ARE SEA PRODUCTION MANAGER

AS, NORWAY. SOLD AS IS MALAYSIA UNDER

TOW

SELLERS ARE NIPPON YUSEN KAISHA JAPAN

GAS TANKER. SELLERS ARE BW GAS AS

NORWAY

NOTESAUGUSTREPORTED DEMOLITION DEALS

SELELRS ARE TSAKOS SHIPPING & TRADING

SA GREECE

VEHICLES CARRIER ‐ SELLERS ARE

WALLENIUS LINES SWEDEN

SELLERS ARE VANSHIP HONGKONG

FPSO, OIL ‐ SELLERS ARE VIETSOVPETRO JV ‐

VIETNAM

SELLERS ARE MSI SHIP MANAGEMENT PTE,

SINGAPORE. PREMIUM PAID DUE TO

INTERNAL SALE

SELLERS ARE AVIN INTERNATIONAL

GREECEVESEL WAS SOLD IN JUNE 2008 FOR

32m

SELLERS ARE TMT CO LTD, CHINESE TAIPEI.

OLD SALE

SELLERS ARE CHINESE

SELLERS ARE GLORY SHIP MANAGEMENT

PTE LTD, SINGAPORE. OLD SALE

LPG ‐ SELLERS ARE GALAXY MARITIME

GREECE

SELLERS ARE THE GREAT EASTERN SHIPPING

CO, INDIA. AS IS KAKINADA

INCLUDING 250MT BUNKERS

SELLERS ARE CHUNG FAI TRADING CO CHINA

‐ CHEMICAL/PRODUCT TANKER

SELLERS ARE RCL SHIPMANAGEMENT

SINGAPORE. OLD SALE. IT IS NOTEWORTHY

THAT THIS VSL WAS PURCHASED IN DEC

2008 FOR $5.9m.




ORIENT II TWEEN 1975WESER

SEEBECKWERFT 16,265 4,813 420$ INDIA 7360760

MADURA TANKER 1985KURINOURA

DOCKYARD CO 15,114 4,176 590$ INDIA 8418277

GLOBAL MACEIO TANKER 1986VIANA DO

CASTELO 15,089 4,712 ‐ ‐ 8220577

TOR BELLONA RORO 1980KAWASAKI

HEAVY INDS 13,996 9,450 380$ AS IS 7822213

SUPER STAR III BC 1980 B&W 12,905 4,333 ‐ INDIA 7818107

NATASHA BC 1980UWAJIMA

ZOSENSHO 12,697 4,126 ‐ INDIA 8021311

CHIJIN CAR 1982TSUNEISHI

SHBLDG ‐ 12,582 9,320 360$ INDIA 8123054

PICO EL AGUILA TANKER 1982 SHIMODA 12,467 4,464 ‐ INDIA 8122971

PICO ESPEJO TANKER 1982 SHIMODA 12,444 4,414 310$ INDIA 8103925

VAN PHONG BC 1985 ASTARSA 11,450 11,450 ‐ ‐ 8012889

OAK RORO 1984KOREA SHBLDG

& ENG 11,425 6,025 298$ INDIA 8305949

VOYAGER RORO 1985SCHICHAU‐

UNTERWESER 11,294 6,050 ‐ INDIA 8412869

BALTIC WIND REEFER 1975SMITH'S DOCK

S.BNK 11,093 6,200 405$ INDIA 7342988

GENERAL EDWIN D.

PATRICKOTHER 1945

BETHLEHEM

ALAMEDA 10,102 4,666 ‐ AS IS 8332849

BALTIC MERIDIAN REEFER 1980BOELWERF

TEMSE 9,852 5,748 418$ INDIA 7710927

PIONEER BAY REEFER 1982HAYASHIKANE

SHBLDG 8,676 4,811 ‐ INDIA 8129852

BOSTON BAY REEFER 1983TOWA

SHIMONOS8,538 4,504 392$ INDIA 8313283

MAI BC 1977YAMANISHI

SHIPBUILD 8,538 4,273 198$ TURKEY 7525889

NOKIA TANKER 1981 TAIHEI AKITSU 7,781 2,788 ‐ PAKISTAN 8025434

GENERAL JOHN POPE OTHER 1943 FEDERAL 7,598 ‐ ‐ AS IS 8332851

STAR 8 TANKER 1995JURONG

SHIPYARD LTD 6,902 2,400 ‐ ‐ 9114854

ALHAMBRA CARRIER REEFER 1984 JAPAN 6,788 4,200 ‐ ‐ 8313219

SIDONIA CARRIER REEFER 1983 JAPAN 6,688 4,100 ‐ ‐ 8223385

CORONA TANKER 1985 HIGAKI 6,594 2,226 470$ INDIA 8502731

SUPPAVAN 1 TANKER 1979KURINOURA

DOCKYARD CO 6,135 1,815 417$ INDIA 7815155

PIONER BELORUSSII BC 1978 VYBORGSKIY 6,070 3,937 ‐ INDIA 7733656

HAI SHUN REEFER 1979 JAPAN 5,696 4,230 ‐ CHINA 7823633

INLACO SPRING SD 1983ORSKOV

CHRISTENSENS 5,223 1,990 ‐ ‐ 8302935

PALANA REEFER 198661 KOMMUNAR

S/Y4,900 4,527 433$ INDIA 8723397

DANAI 1 TANKER 1981 KOCHI JYUKO 3,990 1,460 410$ INDIA 8025020

DALIA BC 1970 HDW AG KIEL 3,739 2,264 406$ INDIA 7016929

DUCKY SOVEREIGN CAR 1980 TAIHEI AKITSU 2,449 3,496 398$ BANGLADESH 7927465

TAIYO SD 1985TOKUSHIMA

KOMAT'MA 2,348 1,200 ‐ ‐ 8514409

TETRA I SD 1980 MIURA SAIKI 2,225 ‐ ‐ ‐ 7920807

MINERAL SD 1971ROLANDWERFT

BERNE 2,140 1,200 ‐ TURKEY 7113313

UKHTA TANKER 1964 ZALIV 1,660 ‐ ‐ ‐ 6503688

ASSOS I SD 1967SMIT E.J.

SCHEEPS W 1,330 900 ‐ TURKEY 6706773

TRADER TUG 1981AVONDALE

WESTWEGO 877 ‐ ‐ INDIA 7821207

Note1: With Red color are indicated all Greek interest Sales

SELLERS ARE HUA HENG REEFER CHINA

SELLERS ARE ECOLOGIA DV CO LTD RUSSIA

CHEMICAL TANKER ‐ SELLERS ARE GLORY

SHIP MANAGEMENT SINGAPORE

PRODUCTS TANKER ‐ SELLERS ARE THAI

PETROCHEMICAL INDUSTRY THAILAND

SELLERS ARE NORTHERN SHIPPING CO ‐

RUSSIA

SELLERS ARE NIMONT LTD ‐ MONTENEGRO

VEHICLES CARRIER ‐ PLUS EXTRA FOR 500 TS

FO ‐ SELLERS ARE TSUNEISHI GROUP JAPAN

SELLERS ARE ATLAS MARINE CA,

VENEZUELA. AS IS CURACAO‐ ABT 287T

STAINLESS STEEL ON BOARD

CHEMICAL/PRODUCTS ‐ SELLERS ARE

SALHUS SHIPPING NORWAY

SELLERS ARE DEL MONTE INTERNATIONAL

USA

SELLERS ARE ROSWELL NAVIGATION GREECE

SELLERS ARE SEATRADE GRONINGEN BV

NETHERLANDS

PRODUCTS TANKER

SELLERS ARE PELMAR SHIPPING AND

ENGINEERING INDIA

CHEMICAL/PRODUCTS TANKER

TROOPSHIP ‐ AS IS USA ESCOMARINE ‐

SELELRS ARE US GOVNMT

SELLERS ARE VINALINES VIETNAM

SELLERS ARE TRANSATLANTIC FLEET

SERVICES AB, SWEDEN. AS IS SWEDEN

RO‐RO CARGO SHIP

CEMENT CARRIER

VEHICLES CARRIER ‐ SELLERS ARE TMT CO

LTD TAIWAN

PUSHER TUG ‐ SELLERS ARE STOLT‐NIELSEN

USA USA

CHEMICAL TANKER ‐ SELLERS ARE DTA SHIP

TRADING UAE

SELLERS ARE NORBULK SHIPPING AB,

NORWAY. AS IS PORT SAID ‐ OLD SALE

SELLERS ARE SB TANKERS CO LTD THAILAND

SELLERS ARE DEL MONTE INTERNATIONAL

USA

SELLERS ARE STARCO FREIGHT UAE

SELLERS ARE VINALINES VIETNAM

SELLERS ARE YUGREFTRANSFLOT UKRAINE ‐

INCL 40TS ALUMINIUM

SELLERS ARE AQUACHART SIA LATVIA

TROOPSHIP ‐ AS IS USA ESCOMARINE ‐

SELELRS ARE US GOVNMT

BUYERS PAYING BROKERAGE COMMISSION ‐

SELLERS ARE GULF OF ADEN SHIPPIN G LLC

UAE‐ OTHER REP SAYS $424 PER LDT

CHEM TANKER. INCL 125T SOLID STAINLESS

STEEL. ‐ SELLERS ARE GLORY SHIP

MANAGEMENT PTE LTD SINGAPORE




DEMOLITION STATISTICS: 2010 UNITS DWT LDT

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

February 104 2,616,428 735,515 131 1,181,269 $370March 131 4,638,388 1,059,123 333 2,437,346 $388

April 143 2,622,609 772,054 91 1,092,348 $400May 110 2,014,814 577,318 106 205,962 $205

June 109 2,140,176 680,922 81 655,367 $403July 60 2,111,287 525,766 105 392,479

August 75 2,515,874 608,784 847 5,964,771 $353September 0 0 0

October 0 0 0

November 0 0 0

December 0 0 0

TOTAL 847 22,614,782 5,964,771

TOTAL DRY&WET

UNITS LDT TAKEN av $ UNITS LDT UNITS LDT DWT131 1,181,269 369.9 111 1,051,273 15 129,996 3,853,126

333 2,437,346 387.8 230 1,658,193 99 779,153 7,850,533

91 1,092,348 399.7 34 271,056 57 821,292 5,605,195

106 205,962 204.9 71 171,466 11 34,496 583,654

81 655,367 402.7 34 137,985 46 517,382 3,251,435

105 392,479 18.4 24 123,362 10 88,897 709,630

847 5,964,771 353.0 504 3,413,335 238 2,371,216 21,853,573

COUNTRY UNITS % rankGREECE 119 14.0% 1

CHINA 59 7.0% 2UAE 57 6.7% 3

SINGAPORE 46 5.4% 4JAPAN 38 4.5% 5

NORWAY 36 4.3% 6USA 35 4.1% 7

SYRIA 34 4.0% 8TURKEY 28 3.3% 9RUSSIA 27 3.2% 10INDIA 21 2.5% 11

LEBANON 17 2.0% 12DENMARK 16 1.9% 13

UK 16 1.9% 13UKRAINE 15 1.8% 15VIETNAM 14 1.7% 16GERMANY 14 1.7% 16

ITALY 13 1.5% 18LATVIA 12 1.4% 19

BULGARIA 11 1.3% 20ALL OTHER 210 24.8%

UNDISCL 9 1.1%

TOTAL 847 100.0%

CHINA

BREAKER

BREAKER – STATS ‘2010

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

WET

CHINA

BANGLADESH

INDIA

PAKISTAN

INDIA

TOTAL

OTHER/CASH/AS IS

BANGLADESH

TURKEY

BREAKER

Average Scrap Price & No of Ships Scrapped 2005-2010

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

5060

125

104

131

115

94

6263

75

91

101

95

112

7379

134

110

143

109

75

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

-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

-15

5

25

45

65

85

105

125

145DWTLDTNUMBER

LDT INTAKE PER SCRAP COUNTRY FOR 2010

PAKISTAN, 655,367, 11%

TURKEY, 205,962, 3%

BANGLADESH, 1,092,348,

18%

INDIA, 2,437,346,

41%

CHINA, 1,181,269,

20%

UNIT INTAKE PER SCRAP COUNTRY FOR 2010

CHINA, 131, 15%

INDIA, 333, 39%BANGLADESH, 91, 11%

TURKEY, 106, 13%

PAKISTAN, 81, 10%

OTHER/CASH/AS IS, 105, 12%




BULKERS / SDTANK/

OBO/GASCONT/

TWEEN/MPP REEFER

RORO PAX CRUISE, OTHER

VEHICLES CARRIERS

TRAWLER TUG OTHER TOTAL

237 256 140 39 79 41 55 847 SHIPS

28.0% 30.2% 16.5% 4.6% 9.3% 4.8% 6.5% 100.0%

1,196,921 2,482,018 1,005,126 209,855 488,331 408,668 173,852 5,964,771

5,025,538 12,779,089 2,570,960 320,015 643,994 522,104 753,082 22,614,782

$265,532,258 $835,070,093 $246,055,557 $64,965,977 $108,121,215 $33,505,593 $45,782,373 $1,599,033,066

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

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

%

UNITS

AVERAGE AGE

STATS

DWT

LDT

Demolition DATA for 2010

USD PAID

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 CHINA

$228$243

$215 $209$226

$251 $255$268 $279

$266$286

$312 $319$343

$375

$411$381 $382

$442

$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

0

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$345

$387

$460

$410

$373

$407

$404

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

0

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

$380$380

$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

0

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

$398

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

0

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

$207

$242

$216$205

$189 $189

140

160

180

200

220

240

260

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

0

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T




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

30/07/10 1,967 ‐37% 1,922 ‐54% 2,632 ‐31% 1,760 ‐21% 1,010 ‐12%02/08/10 1,977 ‐37% 1,922 ‐54% 2,677 ‐30% 1,756 ‐21% 1,004 ‐13%03/08/10 1,964 ‐37% 1,892 ‐55% 2,665 ‐30% 1,750 ‐21% 996 ‐13%04/08/10 1,957 ‐38% 1,939 ‐54% 2,607 ‐32% 1,738 ‐22% 987 ‐14%05/08/10 1,957 ‐38% 1,939 ‐54% 2,607 ‐32% 1,738 ‐22% 987 ‐14%06/08/10 2,030 ‐35% 2,194 ‐48% 2,581 ‐32% 1,731 ‐22% 974 ‐15%09/08/10 2,114 ‐33% 2,485 ‐41% 2,607 ‐32% 1,722 ‐23% 973 ‐15%10/08/10 2,212 ‐30% 2,724 ‐35% 2,666 ‐30% 1,729 ‐22% 976 ‐15%11/08/10 2,378 ‐24% 3,152 ‐25% 2,749 ‐28% 1,750 ‐21% 983 ‐15%12/08/10 2,437 ‐22% 3,212 ‐23% 2,829 ‐26% 1,787 ‐20% 995 ‐14%13/08/10 2,468 ‐21% 3,210 ‐24% 2,864 ‐25% 1,831 ‐18% 1,014 ‐12%16/08/10 2,488 ‐21% 3,194 ‐24% 2,883 ‐25% 1,874 ‐16% 1,022 ‐11%17/08/10 2,515 ‐20% 3,207 ‐24% 2,920 ‐24% 1,908 ‐14% 1,032 ‐10%18/08/10 2,558 ‐19% 3,225 ‐23% 2,969 ‐22% 1,972 ‐11% 1,044 ‐9%19/08/10 2,644 ‐16% 3,363 ‐20% 3,031 ‐21% 2,034 ‐9% 1,056 ‐8%20/08/10 2,756 ‐12% 3,578 ‐15% 3,089 ‐19% 2,076 ‐7% 1,068 ‐7%23/08/10 2,841 ‐10% 3,777 ‐10% 3,122 ‐18% 2,102 ‐5% 1,073 ‐7%24/08/10 2,861 ‐9% 3,795 ‐10% 3,128 ‐18% 2,127 ‐4% 1,080 ‐6%25/08/10 2,773 ‐12% 3,503 ‐17% 3,087 ‐19% 2,142 ‐4% 1,084 ‐6%26/08/10 2,703 ‐14% 3,362 ‐20% 3,025 ‐21% 2,118 ‐5% 1,081 ‐6%27/08/10 2,712 ‐14% 3,449 ‐18% 2,978 ‐22% 2,109 ‐5% 1,079 ‐6%31/08/10 2,713 ‐14% 3,516 ‐16% 2,950 ‐23% 2,066 ‐7% 1,077 ‐6%

BALTIC DRY BULK MARKET INDICES until 31st AUGUST 2010

All Baltic DRY indices 2005 - 2010

3002300430063008300

1030012300143001630018300

Aug-05

Nov-05

Feb-06

May-06

Aug-06

Nov-06

Feb-07

May-07

Aug-07

Nov-07

Feb-08

May-08

Aug-08

Nov-08

Feb-09

May-09

Aug-09

Nov-09

Feb-10

May-10

Aug-10

BPI

BCIBDI

BSI

BALTIC DRY 2005 - 2010

400

2400

4400

6400

8400

10400

Aug-05

Nov-05Feb-06

May-06Aug-06

Nov-06Feb-07

May-07Aug-07

Nov-07Feb-08

May-08Aug-08

Nov-08Feb-09

May-09Aug-09

Nov-09Feb-10

May-10Aug-10

BDI

BALTIC PMAX 2005 - 2010

300

2300

4300

6300

8300

10300

Aug-05

Nov-05Feb-06

May-06Aug-06

Nov-06Feb-07

May-07Aug-07

Nov-07Feb-08

May-08Aug-08

Nov-08Feb-09

May-09Aug-09

Nov-09Feb-10

May-10Aug-10

BPI

BALTIC CAPE 2005 - 2010

400

2900

5400

7900

10400

12900

15400

17900

Aug-05

Nov-05Feb-06

May-06Aug-06

Nov-06Feb-07

May-07Aug-07

Nov-07Feb-08

May-08Aug-08

Nov-08Feb-09

May-09Aug-09

Nov-09Feb-10

May-10Aug-10

BCI

BALTIC SUPMAX 2006 - 2010

300

1300

2300

3300

4300

5300

6300

7300

Aug-05

Nov-05Feb-06

May-06Aug-06

Nov-06Feb-07

May-07Aug-07

Nov-07Feb-08

May-08Aug-08

Nov-08Feb-09

May-09Aug-09

Nov-09Feb-10

May-10Aug-10

BSI

CAPITAL LINK MARITIME INDEX 2005-2010

400

1400

2400

3400

4400

5400

Aug-05Nov-05

Feb-06May-06

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-10

CL Maritime Index (CLMI)

CAPITAL LINK DRYBULK INDEX 2005-2010

400

1400

2400

3400

4400

5400

6400

7400

Aug-05Nov-05

Feb-06May-06

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-10

CL Drybulk Index (CLDBI)

CAPITAL LINK CONTAINER INDEX 2005-2010

400

1400

2400

3400

4400

5400

Aug-05Nov-05

Feb-06May-06

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-10

CL Container Index (CLCI)

CAPITAL LINK MLP INDEX 2005-2010

400900

1400190024002900340039004400

Aug-05Nov-05

Feb-06May-06

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-10

CL MLP Index (CLMLP)




DATE CLEAN % frm 2/1/10 DIRTY % frm 2/1/1030/07/10 465 ‐4% 648 ‐17%

02/08/10 463 ‐2% 623 ‐18%

03/08/10 462 ‐1% 604 ‐19%

04/08/10 463 0% 593 ‐20%

05/08/10 462 0% 589 ‐20%

06/08/10 458 0% 571 ‐21%

09/08/10 451 0% 555 ‐21%

10/08/10 449 0% 538 ‐22%

11/08/10 448 ‐1% 533 ‐23%

12/08/10 446 0% 526 ‐24%

13/08/10 441 1% 507 ‐23%

16/08/10 436 3% 501 ‐21%

17/08/10 433 2% 493 ‐19%

18/08/10 429 2% 482 ‐18%

19/08/10 429 2% 479 ‐17%

20/08/10 426 2% 476 ‐16%

23/08/10 423 3% 478 ‐17%

24/08/10 431 3% 479 ‐16%

25/08/10 444 3% 477 ‐16%

26/08/10 444 1% 476 ‐18%

27/08/10 450 0% 474 ‐20%

31/08/10 453 ‐1% 476 ‐21%

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 31st AUGUST 2010

ALL BALTIC WET Indices 2006-2010

300

800

1300

1800

2300

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-10

BCTI

BDTI

BALTIC DIRTY TANKER INDEX 2005 - 2010

400

900

1400

1900

2400

Aug-05

Nov-05Feb-06

May-06Aug-06

Nov-06Feb-07

May-07Aug-07

Nov-07Feb-08

May-08Aug-08

Nov-08Feb-09

May-09Aug-09

Nov-09Feb-10

May-10Aug-10

BDTI

BALTIC CLEAN TANKER INDEX 2005 - 2010

300

700

1100

1500

1900

Aug-05

Nov-05Feb-06

May-06Aug-06

Nov-06Feb-07

May-07Aug-07

Nov-07Feb-08

May-08Aug-08

Nov-08Feb-09

May-09Aug-09

Nov-09Feb-10

May-10Aug-10

BCTI

Brent OIL (2001 - 2010)

162636465666768696

106116126136146

Aug-0

1

Nov-0

1

Feb-

02

May

-02

Aug-0

2

Nov-0

2

Feb-

03

May

-03

Aug-0

3

Nov-0

3

Feb-

04

May

-04

Aug-0

4

Nov-0

4

Feb-

05

May

-05

Aug-0

5

Nov-0

5

Feb-

06

May

-06

Aug-0

6

Nov-0

6

Feb-

07

May

-07

Aug-0

7

Nov-0

7

Feb-

08

May

-08

Aug-0

8

Nov-0

8

Feb-

09

May

-09

Aug-0

9

Nov-0

9

Feb-

10

May

-10

Aug-1

0

Brent Oil

ALL CAPITAL LINK WET Indices 2006-2010

400

1400

2400

3400

4400

5400

Aug-05Nov-05

Feb-06May-06

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-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

Aug-05Nov-05

Feb-06May-06

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-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

Aug-05Nov-05

Feb-06May-06

Aug-06Nov-06

Feb-07May-07

Aug-07Nov-07

Feb-08May-08

Aug-08Nov-08

Feb-09May-09

Aug-09Nov-09

Feb-10May-10

Aug-10

CL LNG/LPG Index (CLLG)

WTI SPOT PRICE (2001 - 2010)

162636465666768696

106116126136146

Aug-0

1

Nov-0

1

Feb-

02

May

-02

Aug-0

2

Nov-0

2

Feb-

03

May

-03

Aug-0

3

Nov-0

3

Feb-

04

May

-04

Aug-0

4

Nov-0

4

Feb-

05

May

-05

Aug-0

5

Nov-0

5

Feb-

06

May

-06

Aug-0

6

Nov-0

6

Feb-

07

May

-07

Aug-0

7

Nov-0

7

Feb-

08

May

-08

Aug-0

8

Nov-0

8

Feb-

09

May

-09

Aug-0

9

Nov-0

9

Feb-

10

May

-10

Aug-1

0

WTI Spot Price



s&p monthly report august 2010 - poslovni … report 2010 08...tanker ships vlcc 30/8/2009 suz...

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