S&P MONTHLY REPORT NOVEMBER 2010files.irwebpage.com/reports/shipping/GaPohY32AN... · bangladesh...

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

Ship sale volume: Nov‐10 Oct‐10

123 135 last month

81 91 last month

42 44 last month

Scrap volume:

84 76 last month

$478/LDT INDIA

Newbuilding Ships Prices 30/11/2010 (in mil USD)

Dry Cargo CAPE 30/11/2009 PMX 30/11/2009 HMAX 30/11/2009

NEWBUILDING $72.0 $67.0 $44.0 $41.5 $36.0 $34.0

Tanker Ships VLCC 30/11/2009 SUZ 30/11/2009 AFR 30/11/2009

NEWBUILDING $108.0 $97.0 $71.2 $68.0 $58.0 $49.0PAN 30/11/2009 PROD 30/11/2009

$45.5 $41.0 $36.5 $33.0Average Dry cargo T/C Earnings (worldwide routes):

Nov‐10 Oct‐10 Sep‐10 Aug‐10

$33,047 $38,178 $35,929 $27,823

$21,969 $20,100 $24,800 $21,788

$21,128 $20,034 $26,103 $25,841

$19,445 $21,536 $24,781 $22,960

$17,769 $20,334 $22,325 $22,919

$17,920 $20,702 $19,995 $22,021

$13,538 $14,704 $16,833 $15,800

$12,665 $14,329 $16,063 $15,682

Scrap Prices for NOVEMBER 2010

CHINA HIGH $410 AVERAGE $396 NOVEMBER 2010 AVERAGE $433 INDIA HIGH $478 AVERAGE $447 OCTOBER 2010 AVERAGE $402

BANGLADESH HIGH $470 AVERAGE $0 SEPTEMBER 2010 AVERAGE $457 PAKISTAN HIGH $477 AVERAGE $461 AUGUST 2010 AVERAGE $400 TURKEY HIGH $277 AVERAGE $277 JULY 2010 AVERAGE $393 373.05

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

2099 ‐21.62% 2678 2446 27132910 ‐31.72% 4262 3370 35162377 ‐1.37% 2410 2462 29501526 ‐12.80% 1750 1847 2066796 ‐11.26% 897 1039 1077740 18.02% 627 624 679882 16.36% 758 686 715

COMMENTS:

Baltic Handymax Index

China and partly by the other developing and emerging countries. It is a factual figure that nearly 80% of all dry bulk cargo shipments are related to the Asian regions. China has

already been instrumental for mor ethan 65% of all iron/ore world shipments and the estimate is that China imported more than 650mil tones of iron/ore in 2010. At the same time

China's steel consumption and subsequent production is not at a "forte" when compared to other countries so that can leave us some room for future growth in the imported raw

material volumes for the years to come.

Baltic Cape Index

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

On the other hand continued deliveries of so many new ships that have been added to the active fleet, is a seriously alarming problem that we feel has not been faced with the

amount of seriousness and adequate severity. Many new ships almost 2 ½ ships Bulk Carriers have been delivered each day for the whole year with 11 months completed, and that

ends up bringing the active fleet over 70 mil tones tallying a massive total 617 mil tones of carrying capacity. There are still pending for the remainder of 2010 (27 days!!!!) 730 ships

of 16.3 mil tones that in theory have to be delivered by end of 2010. Of course it goes without saying that most of these will not and can’t be delivered later this year and will be

transferred to the already strained orderbook waiting for 2011, where the expected dry cargo ships amount to 1851 ships of a total capacity of 129 mil tones. We are of the

considered opinion that there was a significant increase in the world fleet during 2010 and many more analysts feel that this influx of tonnage has “somewhat dampened” the

overall positive effects of China’s growing demand.

S&P MONTHLY REPORT

Baltic Dirty Tanker Index

Wet cargo Ships sold this month:

Ships scrapped this month:

Baltic Panamax Index

NOVEMBER 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

This dampening has kept the freight market to practically semi‐mediocre or at the best case to well above sustainability daily levels, and had we had the same amount of tonnage

instead of the +70mil dwt fleet we could have seen freight levels of 20‐30% above the actual levels. Cancellations and scrapping are the only effective measures we may use against

the overcapacity issues, but unless these ships cancelled or scrapped are tripled in volume, the problem will occur and we will just feel that up to now we would have swept the dust

under the carpet… However we feel that the Large ships, namely the Capes and VLOC’s are in for some hard times ahead. Not necessarily “tomorrow”, but surely in the year to

come. We are one month away from clearing out 2010 and this year was overall a very good one, all “other things considering”…!!! We feel that China has lead the way forward, has

given us some positive demand for cargoes, has generated momentum and has been the steam engine that gave power to the dry bulk markets. Had it not been for China’s constant

and insatiable appetite for raw materials, and general imports together with providing the world with a massive wealth of exports, we would be facing a collapsed dry cargo freight m

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

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


2010

NAME TYPE YEAR BUILT DWT GEAR PRICEBUYERS

NAME

BUYERS

NATIONNOTES IMO

HEBEI WISDOM BC 1986 HITACHI ZOSEN 182,212 $14.00mUNDISCLOSED

BUYERS‐

SELLERS ARE HEBEI

OCEAN SHIPPING CHINA8413435

CARPE DIEM I BC 1985 KAWASAKI HI 181,756 $15.00mUNDISCLOSED

BUYERS‐

SELLERS ARE

OCEANBULK MARITIME

GREECE

8408375

BLUE ANNAPURNA BC 2010 DAEHAN 180,000 $63.50mEMPIRE

NAVIGATIONGREECE 9488865

GOLDEN QUEEN BC 2010 JUNHAIWAN 175,918 $84.90m SALAMON AG GERMANY

SELLERS ARE GOLDEN

OCEAN GROUP LTD. SALE

INCLUDES A 5 YEAR T/C

BACK AT $34200/DAY

9497359

CASTILLO DE SAN JUAN BC 1990 VEROLME BRAZIL 173,329 $18.00m CHINESE BUYERS CHINA

SELLERS ARE EMPRESA

NAVIERA ELCANO SA,

SPAIN8510922

DAEHAN HAENAM

1045BC 2011 DAEHAN 170,500 $61.00m KOREAN BUYERS KOREA

SELLERS ARE GOLDEN

OCEAN GROUP LTD9589384

IRON BROTHERS BC 1991 SUMITOMO H I 151,511 P&C TERMSUNDISCLOSED

BUYERS‐

SELLERS ARE CENTRAL

SHIPPING CO LTD, CHINA9004736

SONGA PEAK BC 1990 NIPPON 151,418 $20.00mUNDISCLOSED

BUYERS‐

SELLERS ARE SONGA

SHIPMANAGEMENT, UK8903284

BENEDETTA D’AMATO BC 2010JIANGSU NEW

YANGZIJIANG92,500 $45.00m FAR EAST BUYERS FAR EAST

SELLERS ARE SHIPS

SURVEYS & SERVICES SRL

ITALY. T/C FOR 83‐86

MONTHS ATTACHED

@21,400/DAY. OTHER

REPS SAY $46m

9426049

KAMSAR GOLD BC 2006 TSUNEISHI CORP 82,981 $42.00m ITALIAN BUYERS ITALY

SELLERS ARE ROSY STAR

OCEAN VESSEL

MANAGEMENT

PHILIPPINES. SHE HAD

BEEN REPORTED SOLD

LAST MONTH TO GREEK

BUYERS AT $41.5m

9310630

TORM ISLAND BC 2010TSUNEISHI

HOLDINGS82,194 9461130

TORM TRADER BC 2010TSUNEISHI

HOLDINGS82,194 9461142

ENERGY TRADE BC 1998 MITSUI TAMANO 77,679 $25.00mINDONESIAN

BUYERSINDONESIA

SELLERS ARE OSAKA

FLEET CO LTD, JAPAN.

OTHER REPS SAY $24m.

NON PANAMAX

DIMENSIONS

9153109

TORM KAREN BC 2011TSUNEISHI

SHIPBUILDING82,191 $45.00m 9510333

TORM KATE BC 2011TSUNEISHI

SHIPBUILDING82,191 $45.00m 9510345

CONQUISTADOR BC 2000 SANOYAS 75,607 $30.50mUNDISCLOSED

BUYERS

SELLERS ARE CARDIFF

MARINE INC, GREECE9206073

AUSTIN BC 1995FINCANTIERI

R.TRIGOSO75,473 9083536

TRENTON BC 1995FINCANTIERI

R.TRIGOSO75,265 9083524

GOLDEN SHADOW BC 1997 SUMITOMO H I 73,732 $26.70m NORSUL SA BRAZIL

SELLERS ARE THOME

SHIP MANAGEMENT

SINGAPORE. VESSEL HAD

BEEN REPORTED SOLD

TO HER PRESENT

SELLERS IN JULY 2006 AT

$28.7m

9164615

MARITIME WISDOM BC 1993 OSHIMA ZOSEN 73,657 4x30T $22.00m GREEK BUYERS GREECESELLERS ARE MSI SHIP

MANAGEMENT PTE LTD9036791

YUE DIAN 8 BC 1997 SASEBO SASEBO 72,424 $27.00m TRADA MARITIME INDONESIA

SELLERS ARE

GUANGDONG YUDEAN

SHIPPING CHINA9154098

MERCURY K BC 1997 SASEBO SASEBO 72,421 $27.00m TRADA MARITIME INDONESIA

SELLERS ARE EXECUTIVE

SHIP MANAGEMENT

SINGAPORE9159517

BRIGHT ZHEJIANG BC 1983 GOVAN (B.S.) 67,281 $6.80mUNDISCLOSED

BUYERS‐

SELLERS ARE ZHEJIANG

FUCHUEN SHIPPING, HK,

CHINA8111582

REWOOD OCEAN

SHIPPINGCHINA

SOLD ENBLOC TORM

KAREN AND TORM KATE

TO REWOOD OCEAN

CHINA FOR $90m FOR

BOTH UNITS. SELLERS

ARE TORM AS

DENMARK. DELIVERY

JANUARY 2011

$45.00mINDONESIAN

BUYERSINDONESIA

SOLD ENBLOC AUSTIN

AND TRENTON TO

INDONESIAN BUYERS

FOR $45m FOR BOTH

UNITS. SELLERS ARE

CARDIFF MARINE INC

GREECE

NOVEMBERDRY CARGO SHIPS SOLD DURING THIS MONTH

‐

SOLD ENBLOC TORM

ISLAND AND TORM

TRADER FOR $90m FOR

BOTH UNITS TO

UNDISCLOSED BUYERS

WITH DELIVERY 2011.

SELLERS ARE TORM AS,

DENMARK

UNDISCLOSED

BUYERS$90.00m




STEFANIA BC 1981 HITACHI ZOSEN 64,848 $6.20m CHINESE BUYERS CHINA

SELLERS ARE PARADISE

NAVIGATION S.A.

GREECE

7929243

CHANE NAVIGATOR BC 2010 JIANGSU QINFENG 55,000 $30.00m CHINESE BUYERS CHINA

SELLERS ARE SEA STAR

SHIPS MANAGEMENT,

CHINA

9579729

MEDI CORK BC 2004IMABARI

MARUGAME53,552 4x30.5T $33.80m VOSCO VIETNAM

SELLERS ARE D'AMICO

SOCIETA DI

NAVIGAZIONE SPA,

ITALY. OTHER REPS SAY

$33m

9290983

NORD BRAVE BC 2007 IWAGI 53,529 4X30.5T $37.00m VOSCO VIETNAM

SELLERS ARE ORIENT

LINE KK JAPAN. OTHER

REPS SAY $36.5m9405459

SYRENA BC 1997 GDANSKA LENINA 48,122 4X35T $22.00mBANGLADESH

BUYERSBANGLADESH

SELLERS ARE SEVEN SEAS

CARRIERS AS NORWAY.

OTHER REPS SAY $21.5m.

IN MAY 2010 SHE HAD

BEEN REPORTED SOLD

AT $18m TO

UNDISCLOSED BUYERS

9102485

CLIFTON BRIDGE CONT 1988 KAWASAKI HI 47,539 3720 TEU $8.10mGOLDENPORT

SHIPMANAGEMEN

T LTD

GREECE

SELLERS ARE K LINE SHIP

MANAGEMENT JAPAN.

OTHERS REPORT BUYERS

AS COSTAMARE GREECE

8808226

SAMMI SUPERSTARS BC 1983HYUNDAI HEAVY

INDS47,208 4x25T $7.40m CHINESE BUYERS CHINA

SELLERS ARE STX PAN

OCEAN CO LTD.

DELIVERY AS IS KARACHI.

OTHER REPS SAY $6.1m

8112055

NEW ETERNITY BC 1994HASHIHAMA

TADOSU45,741 4X25T $20.50m GREEK BUYERS GREECE

PRICE REPORTED EXCESS

20m9087647

SILKY OCEAN BC 1995TSUNEISHI

SHIPBUILDING45,665 4X25T $21.60m GREEK BUYERS GREECE

SELLERS ARE SANTOKU

SENPAKU CO LTD JAPAN 9118446

COSCO KARACHI CONT 2005 NORDSEEWERKE 38,104 2702 TEU $36.00m EUROSEAS GREECE

SELLERS ARE

HARTMANN

SCHIFFAHRTS GMBH,

GERMANY. DELIVERY

FIRST QUARTER 2011

9305013

FEROI BC 1983 KURUSHIMA ONISHI 37,092 5X25.5T $6.30mUNDISCLOSED

BUYERS‐

SELLERS ARE FIRODI

SHIPPING LTD, GREECE8220101

NB RESALE HN 6018 BC 2011 HYUNDAI MIPO 37,000 4X30T $29.00m GREEK BUYERS GREECE 9530943

SHANHAIGUAN 035 BC 2011 SHANHAIGUAN 35,000 $27.50m 9498315

RAINBOW QUEST BC 2011 SHANHAIGUAN 35,000 $27.50m 9498298

LAST TYCOON BC 2011 SHANHAIGUAN 35,000 $27.50m 9498303

NORTHERN DANCER BC 2010 SHANHAIGUAN 35,000 $29.50m 9498286

VOYAGER BC 1985 KANDA KAWAJIRI 33,347 4X25T $8.50m GREEK BUYERS GREECESELLERS ARE KRISTEN

MARINE SA, GREECE8421341

ORIENT SAORI BC 1997 MINAMI NIPPON 30,835 4X30T $19.00mUNDISCLOSED

BUYERS‐

SELLERS ARE P&F

MARINE CO LTD, JAPAN.

VESSEL HAD BEEN

REPORTED SOLD IN SEPT

2009 AT $14m

9152246

ARGUS BC 1984IMABARI

MARUGAME29,099 4X25T $6.50m TURKISH BUYERS TURKEY

SELLERS ARE EOLOS

SHIPMANAGEMENT

GREECE8323135

AGIOS MINAS BC 1981 HAKODATE DOCK 29,002 5X25T $4.10m CHINESE BUYERS CHINA

SELLERS ARE HARBOR

SHIPPING & TRADING

GREECE8004155

BRAZILIAN

CONFIDENCEBC 1985 SUMITOMO 27,939 3x25T, 514 TEU $7.20m

UNDISCLOSED

BUYERS‐

SELLERS ARE HELLAS

MARINE SERVICES LTD,

GREECE8313221

JAG VIKRAM BC 1980 OSAKA OSAKA 27,463 $3.00mUNDISCLOSED

BUYERS‐

SELLERS ARE FIVE STARS

SHIPPING CO INDIA. 7714741

IDEFIX BULKER BC 1996 HUDONG SHIPYARD 27,411 4X30T $15.50mUNDISCLOSED

BUYERS‐

SELLERS ARE BIDSTED

AND CO AS, DENMARK9116149

SANTA CHRISTINA BC 1996 IMABARI IMABARI 25,378 4X30T $13.75mUNDISCLOSED

BUYERS‐

SELLERS ARE NISSHO

ODYSSEY SHIP

MANAGEMENT

SINGAPORE

9136541

NISSAKI BC 1984 KURUSHIMA ONISHI 24,941 4X25T $6.25m CHINESE BUYERS CHINA

SELLERS ARE SAINT

MICHAEL SHIPPING CO

LTD, GREECE8323707

ROYAL CRYSTAL BC 1984 KURUSHIMA 24,872 4X25T $6.25m CHINESE BUYERS CHINASELLERS ARE SHEHADAH

MARITIME CO SYRIA8323719

GLOBAL DIAMOND BC 1997 KANASASHI 24,426 $13.50mTAIWANESE

BUYERSTAIWAN

SELLERS ARE FIRST

MARINE SERVICE CO

LTD, JAPAN. POSSIBLY

SOLD WITH A 4+1 YEARS

T/C BACK AT

$10000/DAY

9145774

NAVIBULGAR BULGARIA

SOLD ENBLOC ALL 4

UNITS TO NAVIBULGAR.

SELLERS ARE EASTWIND

SHIPMANAGEMENT PTE,

SINGAPORE.




ID HARMONY BC 1995 KANASASHI ‐ TOYO 23,712 4X30T $14.50m TURKISH BUYERS TURKEYSELLERS ARE BIDSTED

AND CO AS, DENMARK9113874

NORDSTAR CONT 1998SZCZECINSKA

STOCZNIA23,040 1728 TEU $14.00m

UNDISCLOSED

BUYERS‐

SELLERS ARE

OLDENDORFF GERMANY9149873

POSITANO CONT 1996WADAN YARDS

MTW GMBH22,878 3X40T, 2790 TEU $39.90m

HAMMONIA

REEDEREIGERMANY

SELLERS ARE REEDEREI F

LAEISZ GMBH,

GERMANY. SALE INCL A

T/C FOR 2 YEARS.

DELIVERY APRIL 2011

9481532

HARMONY CONT 1994 HANJIN 21,480 1645 TEU $10.50mUNDISCLOSED

BUYERS‐

SELLERS ARE KG PROJEX‐

SCHIFFAHRTS GMBH,

GERMANY9060273

BOSPHORUS QUEEN BC 1986 USUKI SAIKI 21,167 4X30T $7.20mUNDISCLOSED

BUYERS‐

SELLERS ARE KALAMIS

SHIPPING INDUSTRY

TURKEY. UNCONFIRMED

DEAL

8517384

ORIENTAL BRIGHT CONT 1996 IMABARI IMABARI 16,500 2X35T, 1228 TEU $9.50m KOREAN BUYERS KOREA

SELLERS ARE ABOITIZ

JEBSEN BULK

TRANSPORT PHILIPPINES9146663

SIAM 1 CONT 1996 IWAGI 15,381 927 TEU $8.00m FAR EAST BUYERS FAR EAST

SELLERS ARE SANASIA

MANAGEMENT INC, HK,

CHINA

9140061

CARAVELLE CONT 1996 VOLKSWERFT 14,630 2X45T, 1122 TEU $8.80mUNDISCLOSED

BUYERS‐

SELLERS ARE REEDEREI

GEBR WINTER GMBH,

GERMANY. OTHER REPS

SAY $8.6m

9127007

PETERSBURG RORO 1986 MATHIAS‐THESEN 10,788 P&C TERMSUNDISCLOSED

BUYERS‐

SELLERS ARE REEDEREI F

LAEISZ GMBH8311883

SUNROAD TSUWANO MPP 2005KURINOURA

YAWATAHAMA9,640

1X60T, 2X30T,

D2X30TP&C TERMS

UNDISCLOSED

BUYERS‐

SELLERS ARE KK KYOWA

SANSHO JAPAN9366586

XIN HAI YUAN CONT 1984KYOKUYO ZOSEN

CHOFU8,616 450 TEU $1.80m

MALAYSIAN

BUYERSMALAYSIA

SELLERS ARE ORIENT

INTERNATIONAL

LOGISTICS HOLDING

CHINA

8400969

VSICO PROMOTE CONT 1999 MURAKAMI HIDE 8,516 2X36T, 566 TEU $7.80m SINOKOR KOREA

SELLERS ARE VINASHIN

OCEAN SHIPPING

VIETNAM.9209908

LEHMANN FORESTER MPP 2008FUJIAN NEW

SHENGAI SHIPB8,500 2X35T, 462 TEU $3.99m CYPRUS BUYERS CYPRUS

SOLD AT AUCTION IN

HAMBURG FOR

EURO3m. OTHER REPS

SAY SHE WAS SOLD FOR

Euro 4.5m. SELLERS ARE

UNITEAM MARINE

SHIPPING GMBH,

GERMANY

9452323

YASEMIN MPP 1996 SASEBO SASEBO 6,830 2X35T, 1228 TEU $9.50m KOREAN BUYERS KOREA

SELLERS ARE ISTANBUL

DENIZ TICARET LTD,

TURKEY9136838

AMSTERDAM MPP 1985INCHON

ENGINEERING & S6,726 D2x15T,D2x20T P&C TERMS GREEK BUYERS GREECE

SELLERS ARE GREEK

EASTERN SHIPPING INC.,

GREECE8311053

CIC BELEM MPP 1992KYOKUYO ZOSEN

CHOFU6,273 2X25T 9008067

ARTNE MPP 1992KYOKUYO ZOSEN

CHOFU6,262 2X25T 9008055

WILSON EXPRESS REEFER 1983 FOSEN 5,864 $3.60mNORWEGIAN

BUYERSNORWAY

SELLERS ARE GREEN

MANAGEMENT AS,

NORWAY. INTERNAL

DEAL

8119572

SIROCCO MPP 1997JIANGXI

JIANGZHOU S5,196 2x40T, 366 TEU $2.70m

UNDISCLOSED

BUYERS‐

SELLERS ARE CONBULK

SHIPPING SA, GREECE9126716

KANO II RORO 1978 FREDERIKSHAVN 4,400 $3.00mUNDISCLOSED

BUYERS‐

EURO 2.1MIL ‐ SELLERS

ARE HAKVOORT

TRANSPORT SHIPPING,

NETHERLANDS

7637319

NEPTUNE HELLAS RORO 1979IMABARI

MARUGAME3,280 P&C TERMS

JORDANIAN

BUYERS‐

SELLERS ARE NEPTUNE

SHIPPING AGENCIES SA,

GREECE7903029

THOR FALCON MPP 1992 ESBJERG OILFIELD 2,784 2x50T P&C TERMSUNDISCLOSED

BUYERS‐

SELLERS ARE THOR

REDERI A/S NORWAY9032977

NOORDHOEK

SINGAPOREOTHER 1977

WAAL

ZALTBOMMEL BV2,270 6082 BHP P&C TERMS

UNDISCLOSED

BUYERS‐

SELLERS ARE

NOORDHOEK SHIPPING

BV NETHERLANDS7606308

KANO RORO 1972 SCHULTE & BRUNS 2,120 $3.00mUNDISCLOSED

BUYERS‐

EURO 2.1MIL‐ SELLERS

ARE VIVAL MARINE LTD,

UKRAINE7236139

ADRIANE MPP 1970 BAYERISCHE 1,307 P&C TERMSISLAND FLAG

SHIPPINGDUBAI

SELLERS ARE BJERRUM &

JENSEN DENMARK7001364

TEMASEK SEPINGGAN TUG 2002PAN‐UNITED

SHIPYARD1,300 $10.00m

UNDISCLOSED

BUYERS‐

AHTS. SELLERS ARE

CHUAN HUP AGENCIES

PTE, SINGAPORE9246255

$6.00m INDIAN BUYERS INDIA

SOLD ENBLOC CIC BELEM

AND ARTNE TO INDIAN

INTERESTS FOR $6m FOR

BOTH UNITS. SELLERS

ARE CLIPPER PROJECT

SHIP MANAGEMENT

DENMARK




ILHA AZUL RORO 1980 BARRERAS 1,188 P&C TERMSCAPE VERDE

BUYERSCAPE VERDE

SELLERS ARE

TRANSMACOR,

PORTUGAL7825980

KATRINE KROG MPP 1969 FREDERIKSHAVN 1,170 D2X5T P&C TERMSCARIBBEAN BASED

BUYERSCARIBBEAN

SELLERS ARE HELGE

PEDERSEN DENMARK6922779

NORTIC MPP 1969 FREDERIKSHAVN 1,036 D1X5T P&C TERMSUNDISCLOSED

BUYERS‐

SELLERS ARE C J HELT &

CO DENMARK6924404

MAGOSA RORO 1974 LORENZO 87248 TEU, 24

TRAILERS, 514 LM$0.70m CYPRUS BUYERS CYPRUS OTHER REPS SAY $0.8m 7363918

MENTOR TUG 1993 MCTAY BROMBOR 121 P&C TERMS GREEK BUYERS GREECESELLERS ARE MARINE

CARRIER AB, SWEDEN9061722

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

COUNTRY BUILT BC %

JAPAN 323 57%

CHINA 130 23%

KOREA 68 12%

BRAZIL 9 2%

DENMARK 5 1%

POLAND 5 1%

SPAIN 3 1%

ITALY 5 1%

NORWAY 3 1%

GERMANY 3 1%

UK 3 1%

UKRAINE 2 0%

YUGOSLAVIA 2 0%

ROMANIA 1 0%

PHILIPPINES 1 0%

SINGAPORE 1 0%

CROATIA 1 0%

INDIA 1 0%

BULGARIA 2 0%

RUSSIA 1 0%

USSR 1 0%

TOTAL 570 100%

COUNTRY BUILT CONT %

GERMANY 44 28%

JAPAN 32 20%

KOREA 28 18%

CHINA 25 16%

POLAND 13 8%

PHILIPPINES 4 3%

TURKEY 3 2%

DENMARK 3 2%

ROMANIA 3 2%

NETHERLANDS 2 1%

ARGENTINA 1 1%

CROATIA 1 1%

Grand Total 159 100%

BC - SOLD IN 2010 (BY COUNTRY OF BUILD)323

130

68

9 5 5 3 5 30

50

100

150

200

250

300

350

JAPAN CHINA KOREA BRAZIL DENMARK POLAND SPAIN ITALY NORWAY

BC

CONTAINER SHIPS - SOLD IN 2010 (BY COUNTRY OF BUILD)44

32

2825

13

4 3 3 3

0

5

10

15

20

25

30

35

40

45

50

GERMANY JAPAN KOREA CHINA POLAND PHILIPPINES TURKEY DENMARK ROMANIA

CONT




DRY CARGO 2ND HAND MARKET STATISTICS

country units %

2010 UNITS OUTLAY$ DWT GREECE 161 17.67%

JANUARY 84 $1,297.44m 3,952,288 GERMANY 106 11.64%

FEBRUARY 82 $1,383.07m 3,896,685 CHINA 95 10.43%

MARCH 161 $3,532.12m 7,367,241 JAPAN 91 9.99%

APRIL 71 $1,087.61m 3,404,042 SINGAPORE 46 5.05%

MAY 72 $1,104.90m 3,048,860 FRANCE 40 4.39%

JUNE 79 $1,957.37m 4,042,023 DENMARK 34 3.73%

JULY 56 $1,248.85m 2,270,439 USA 27 2.96%

AUGUST 61 $995.55m 2,096,807 TURKEY 27 2.96%

SEPTEMBER 73 $1,181.40m 2,981,538 ITALY 26 2.85%

OCTOBER 91 $1,724.28m 3,992,317 KOREA 26 2.85%

NOVEMBER 81 $1,391.34m 3,816,394 NORWAY 24 2.63%

DECEMBER 0 $0.00m 0 UK 23 2.52%

TOTAL 911 $16,903.93m 40,868,634 THAILAND 14 1.54%

VIETNAM 12 1.32%

CYPRUS 11 1.21%

COUNTRY UNITS % OUTLAY ($) % DWT % PHILIPPINES 11 1.21%

GREECE 221 24.26% $5,415 32.03% 11,660,994 28.53% INDIA 9 0.99%

CHINA 169 18.55% $2,608 15.43% 11,324,499 27.71% ALL OTHER 109 11.96%

TURKEY 39 4.28% $267 1.58% 694,388 1.70% UNDISCL 19 2.09%

USA 33 3.62% $1,513 8.95% 693,522 1.70% TOTAL 911 100.00%

GERMANY 33 3.62% $630 3.73% 1,370,434 3.35%

NORWAY 29 3.18% $757 4.48% 1,209,404 2.96%

INDIA 22 2.41% $490 2.90% 1,200,358 2.94%

INDONESIA 21 2.31% $290 1.71% 860,691 2.11%

KOREA 20 2.20% $404 2.39% 835,527 2.04%

VIETNAM 16 1.76% $283 1.67% 416,037 1.02%

SINGAPORE 14 1.54% $247 1.46% 718,392 1.76%

RUSSIA 13 1.43% $164 0.97% 308,722 0.76%

SYRIA 12 1.32% $38 0.23% 226,214 0.55%

ISRAEL 9 0.99% $123 0.73% 425,533 1.04%

UNDISCL 136 14.93% $1,767 10.45% 5,086,753 12.45%

ALLOTHER 124 13.61% $2,032 12.02% 4,262,699 10.43%

TOTAL 911 100.00% $16,904 100.00% 40,868,634 100.00%

2010 BC SD CONT MPP TWEEN REEFER PASS RORO OTHER TOTAL

JANUARY 59 0 15 3 0 0 0 5 2 84

FEBRUARY 59 0 3 9 0 0 0 4 7 82

MARCH 89 0 35 14 0 0 0 4 19 161

APRIL 47 0 12 6 1 0 0 5 0 71

MAY 43 0 19 8 0 0 0 1 1 72

JUNE 60 0 15 3 0 0 0 1 0 79

JULY 28 0 14 6 0 0 0 4 4 56

AUGUST 35 0 7 5 0 0 0 3 11 61

SEPTEMBER 42 0 16 8 0 0 0 3 4 73

OCTOBER 58 0 13 11 0 0 0 2 7 91

NOVEMBER 50 0 10 11 0 0 0 6 4 81

DECEMBER 0 0 0 0 0 0 0 0 0 0

TOTAL 570 0 159 84 1 0 0 38 59 911

BUYERS ‐ During Nov we saw the S&P market keeping up on the

momentum of last month, with Greek buyers being the most

active and they increased further the lead over their Chinese

counterparts!!! As of today Greeks have acquired 12 more units

this month and have a total of 221 units (209 last) and are as

always topping the table. In Nov 2010, China acquired only 9

more units and have purchased 169 units in total (160 last) and

are left 2nd for more than 6 months now, while Greek Buyers are

always growing on the lead. Turkish buyers are 3rd with 39 units

(37 last) with USA and German based buyers sharing 4th with

both having bought 33 units. In 5th place are the Norwegian

buyers with 29 units. Indian buyers have added 1.2million

tonnes of Carrying capacity with their 22 purchases.

spent with 40.7 mil tones of dwt being exchanged. For the

equivalent 2009 period of 11 month period Jan‐Nov for 2009

showed 948 deals (37 more ships), 12bill usd (5 bil less), and

39.6mil tones (1 mil tones less although we report more ships

being sold). This shows on a comparative basis that less ships

that cost more and are larger in average size have been traded in

the secondhand market during 2010 as compared to the buying

trends of 2009. Focusing on bulkers sold in 2009 we had 668

ships of 57900dwt average $17mil avg price per ship and 16.4

years av age. In 2010 we have 570 ships 60500dwt avg, $26mil

av price and 12.6y av age.

MONTHLY UNIT SALE ACTIVITY

2010 DRY CARGO STATISTICS ‐ BUYERS

Although the market is surrounded by uncertainty and the ships

prices are considered to be holding on strongly despite the

falling freight markets, Sale and Purchase activity is rather

sstrong. 81 deals were performed this month and that is 10

deals less than Oct when we had a surge of activity. 1.4 bil usd

was used up to finance these 81 deals this month, while 3.8mil

tones of deadweight changed hands. In total with 1 month to go

to complete the year, we see a total of 911 ships being sold with

17bil usd

DRY CARGO UNITS SOLD ‐ BREAKDOWN PER MONTH 2010

SELLERS STATS 2010

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

stats table. Greeks are 1st with 161 units (145 last) while

German sellers are always 2nd with 106 units (99 last), Chinese

sellers are firmly 3rd with 95 units (87 last) and Japanese sellers

4th with 91 units (83 last).




CHANGE

FROM 30/11/2009

NB CAPESIZE $51.0 $67.0 $65.0 ‐3%NB PANAMAX $36.0 $41.5 $44.0 6%NB HANDYMAX $28.0 $34.0 $35.0 3%NB HANDYSIZE $24.0 $26.5 $29.0 9%

CHANGE

FROM 30/11/2009

5y CAPESIZE $48.0 $50.0 $56.0 12%5y PANAMAX $27.0 $32.5 $39.0 20%5y HANDYMAX $25.0 $26.7 $30.0 12%5y HANDYSIZE $19.0 $21.0 $25.5 21%

CHANGE

FROM 30/11/2009


CHANGE

FROM 30/11/2009

10y CAPESIZE $27.0 $27.0 $24.7 ‐9%10y PANAMAX $14.0 $23.0 $21.8 ‐5%10y HANDYMAX $12.0 $17.0 $19.0 12%10y HANDYSIZE $9.0 $12.0 $14.8 23%

CHANGE

FROM 30/11/2009


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

compared to 2009's monthly activity.

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


30/11/10

TYPE 30/11/09

30/11/0930/11/08TYPE

TYPE

30/11/08

30/11/10

30/11/08

30/11/10TYPE 30/11/08

30/11/09

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

30/11/10

1990 built (20Y) OLD BULKERS PRICE COMPARISON

30/11/09


NB BULKERS PRICE COMPARISON

30/11/10

30/11/08



30/11/09

TYPE

Dry cargo units sold 2010 vs 2009

5972

100

75

109 108

71

104 100

80

161

61

8193

5256

9184

8271

7279 73

30

50

70

90

110

130

150

170

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

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

$970

$1,656 $1,724

$681$1,018

$913$739

$1,350$1,123

$710

$1,528

$1,083$1,189

$1,181

$1,105

$3,532

$1,249

$996$1,088

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

$1,391

$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

May

-00

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

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

May

-00

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


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

$110$125

May

-00

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


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

$105

May

-00

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K


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

May

-00

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

CAPE 170K

PANAMAX 70K

HANDYMAX 45K

HANDYSIZE 30K




2010

NAME TYPE YEAR BUILT DWT PRICE PRICE NOTEBUYERS

NAME

BUYERS

NATIONNOTES IMO

PACIFIC LAGOON TANKER 1999MITSUBISHI

NAGASAKI305,839 $55.00m

GRAND CHINA

SHIPPINGCHINA

SELLERS ARE TANKERS

(UK) AGENCIES LTD, UK9166754

ALPHARD STAR TANKER 1995 ODENSE LINDO 301,862 $27.00m 9050589

SUHAIL STAR TANKER 1994 ODENSE LINDO 301,862 $27.00m 9050565

TULIN TANKER 1992 MITSUI CHIBA 281,018 $16.50m WORLD CARRIERS GREECESELLERS ARE ALTOMARE

GREECE9007520

SAMSUNG RESALE H1913 TANKER 2011 SAMSUNG 158,000 $70.00m 9586722




PB EAGLE TANKER 1992IMABARI

MARUGAME97,161 $18.50m

WEST COAST

MARINEGREECE

SELLERS ARE BARBER

SHIP MANAGEMENT,

HONG KONG, CHINA.

INCLUDES A T/C TILL

JUNE 2011 AT

$16800/DAY

9034925

SUNGDONG RESALE 1 TANKER 2011 SUNGDONG 75,000 $41.40m ‐

SUNGDONG RESALE 2 TANKER 2011 SUNGDONG 75,000 $41.40m ‐

SAGAMORE TANKER 1991 NAMURA IMARI 68,536 $7.40mUNDISCLOSED

BUYERS

SELLERS ARE B& H

EQUIMAR SINGAPORE

PTE, SINGAPORE

9002192

THETIS GLORY GAS 2008DAEWOO

SHIPBUILDING54,789 9364394

IRIS GLORY GAS 2008DAEWOO


VENUS GLORY GAS 2008DAEWOO


JOYAMA GAS 1986 MITSUBISHI HEAVY 49,999 $10.00mUNDISCLOSED

BUYERS

GAS TANKER. SELLERS

ARE SHINWA MARINE

CORP, JAPAN

8406054

SLS RESALE 496 TANKER 2010 SLS SHIPBUILDING 49,700 $38.00m EGYPTIAN BUYERS EGYPT

ON SUBJECTS ‐ SELLERS

ARE WORLD TANKERS

MANAGEMENT

SINGAPORE

9399612

NOTO GLORIA GAS 1992 KAWASAKI HEAVY 49,412 $15.00mBANGKOK BASED

BUYERS

GAS TANKER. SELLERS

ARE THE SANKO

STEAMSHIP CO, JAPAN

9006679

SUNWAY GAS 1991MITSUBISHI

NAGASAKI48,980 $14.00m 78746 CBM PETREDEC LIMITED BERMUDA

LPG. SELLERS ARE

NISSHO SHIPPING CO

LTD, JAPAN.

8910720

TRUST RUNNER TANKER 1992 HALLA INCHON 47,059 $8.00mUNDISCLOSED

BUYERS

SELLERS ARE TRUSTOIL

TANKERS GREECE8913631

MOUNT OLYMPUS TANKER 2003 SAIKI JUKOGYO 39,997 $24.50mSOLD ENBLOC

WITH MOUNT

MCKINNEY. IMO III

UNDISCLOSED

BUYERS‐

SELLERS ARE DONNELLY

TANKER MANAGEMENT

CYPRUS. SUBJECT TO

INSPECTION

9260081

MOUNT MCKINNEY TANKER 2004 SAIKI JUKOGYO 39,997 $25.00mSOLD ENBLOC

WITH MOUNT

OLYMPUS. IMO III

UNDISCLOSED

BUYERS‐

SELLERS ARE DONNELLY

TANKER MANAGEMENT

CYPRUS. SUBJECT TO

INSPECTION

9263174

BOW FAVOUR TANKER 2001 KLEVEN FLORO 37,467 9214305

BOW CENTURY TANKER 2000 KVAERNER FLORO 37,438 9168647

STOLT GLORY TANKER 2005 SHIN KURUSHIMA 33,302 9311012

STOLT STRENGTH TANKER 2005 SHIN KURUSHIMA 33,209 9311024

GOLDEN LEGEND TANKER 2009KURINOURA

YAWATAHAMA23,432 9511167

GOLDEN IVY TANKER 2008KURINOURA

YAWATAHAMA23,324 9459539

GOLDEN CHARLOTTE TANKER 2006 FUKUOKA 19,717 9345908

STOLT NANAMI TANKER 2003 KITANIHON 19,932 $22.50m MTMM SINGAPORESELLERS ARE STOLT

TANKERS BV

NETHERLANDS

9279111

CHEM TAURUS TANKER 2000 SHIN KURUSHIMA 19,399 $15.00mUNDISCLOSED

BUYERS

SELLERS ARE MARUTA

INDUSTRIES CO LTD,

JAPAN

9204805

CHEMTRANS

CHRISTIANGAS 1990 BRAND 9,490 PARNA RAYA INDONESIA

LPG. SELLERS ARE

CHEMIKALIEN

SEETRANSPORT GMBH,

GERMANY

8902747

SOLD ENBLOC TO

NAVIOS FOR

$41.4m FOR EACH

UNIT DELIVERY 4Q

2011

NAVIOS GREECE

SOLD ENBLOC TO

NAVIOS FOR $41.4m FOR

EACH UNIT DELIVERY 4Q

2011

GAS 18,436 BHP. SOLD

EN BLOC FOR $72m FOR

ALL THREE UNITS.

SELLERS ARE NORTHERN

MARINE MANAGEMENT

LTD, UK. BUYERS

AVANCE GAS

NORWAY(STOLT‐

NIELSEN LIMITED THAT

ITS SUBSIDIARY STOLT‐

NIELSEN GAS LTD HAS

REACHED AN

AGREEMENT WITH

SUNGAS HOLDINGS LTD

UNDER WHICH SUNGAS

WILL BECOME A 50%

SHAREHOLDER IN

$255.00mSOLD ENBLOC FOR

$255m FOR ALL 7

UNITS TO STOLT

STOLT NIELSEN NORWAY

SOLD ENBLOC FOR

$255m FOR ALL 7 UNITS

TO STOLT. SELLERS ARE

ODFJELL MANAGEMENT

AS NORWAY

$72.00m

SOLD ENBLOC

THETIS GLORY, IRIS

GLORY AND VENUS

GLORY FOR $72m

FOR ALL THREE

UNITS

CLIENTS OF

AVANCE GASNORWAY

SOLD ENBLOC FOR ABT

$27m EACH UNIT.

SELLERS ARE VELA

INTERNATIONAL

MARINE UAE. SOLD FOR

CONVERSION

SOLD ENBLOC FOR

$280m FOR ALL 4

UNITS TO APOLLO

TANKERS USA

APOLLO TANKERS USA

ENBLOC SAMSUNG 1913,

SAMSUNG 1914,

SAMSUNG 1928,

SAMSUNG 1929 FOR

$280 MIL ALL 4 UNITS ‐

SELLERS ARE TARGET

MARINE SA GREECE

SOLD ENBLOC FOR

ABT $27m EACH

UNIT

OGX PETROLEUM BRAZIL

TANKER SHIPS SOLD DURING THIS MONTH NOVEMBER




SOUTHERN ORCHIS TANKER 1999 ASAKAWA 8,336 $8.00m ST ST KOREAN BUYERS KOREASELLERS ARE SANSHO

KAIUN CO LTD JAPAN9194804

GOLDEN EMERALD TANKER 2008ZHENJIANG SOPO

SHIPREPAIRS6,436 $6.00m GREEK BUYERS GREECE

SELLERS ARE FIRST

SHIPPING CO LTD,

KOREA. SOLD AT

AUCTION

9405772

FORTH BRIDGE TANKER 1992 COCHRANE SELBY 5,800 $2.00mUNDISCLOSED

BUYERS

SELLERS ARE ANGLO‐

EASTERN

SHIPMANAGEMENT,

SINGAPORE.

9041136

HERMIEN TANKER 2005MARMARA

YARIMCI4,836 $7.30m GREEK BUYERS GREECE

SELLERS ARE UNIVAN

SHIP MANAGEMENT HK

CHINA. ASPHALT

TANKER.

9291573

TRANS SUND TANKER 1991 AARHUS FLYDEDOK 4,794 89155348

TRANS VIK TANKER 1991 AARHUS FLYDEDOK 4,739 8915550

SAN GIORGIO TANKER 1997 SOUTHERN OCEAN 4,660 $5.00mSAUDI ARABIAN

BUYERSSAUDI ARABIA

SELLERS ARE

PETROLMAR SPA, ITALY9144184

LADY BARBARA GAS 1990 KYOKUYO ZOSEN 3,983 $3.50mUNDISCLOSED

BUYERS

LPG ‐SELLERS ARE STAR

MANAGEMENT

ASSOCIATES, JAPAN

8908246

ORIENTAL SKY GAS 1995 SHITANOE 3,235 $5.20m DUCKYANG KOREALPG ‐ SELLERS ARE EBISU

KISEN JAPAN9128881

KINNA GAS 1989 HANJIN 3,231 $3.20m LUCKY MARINE KOREA

LPG ‐ SELLERS ARE STAR

MANAGEMENT

ASSOCIATES, JAPAN.

VESSEL WAS REPORTED

SOLD IN APRIL 2008 AT

$7m

8717934


TANKER 2ND HAND MARKET STATISTICS

COUNTRY UNITS %

2010 UNITS OUTLAY$ DWT GREECE 77 19.54%

JANUARY 57 $1,096.58m 3,446,410 JAPAN 55 13.96%

FEBRUARY 33 $691.20m 2,470,891 SINGAPORE 32 8.12%

MARCH 37 $608.05m 2,798,832 CHINA 25 6.35%

APRIL 37 $1,085.30m 2,768,206 KOREA 21 5.33%

MAY 45 $1,729.10m 5,133,688 NORWAY 19 4.82%

JUNE 17 $578.62m 1,607,662 TURKEY 18 4.57%

JULY 22 $831.15m 3,225,816 GERMANY 17 4.31%

AUGUST 34 $735.65m 1,972,639 UAE 17 4.31%

SEPTEMBER 26 $749.95m 2,203,927 UK 14 3.55%

OCTOBER 44 $790.11m 4,195,478 ITALY 14 3.55%

NOVEMBER 42 $1,064.40m 2,934,152 USA 13 3.30%

DECEMBER 0 $0.00m 0 CYPRUS 12 3.05%

TOTAL 394 $9,960.10m 32,757,701 CANADA 8 2.03%

TAIWAN 5 1.27%

DENMARK 5 1.27%

COUNTRY UNITS OUTLAY ($) % DWT % MALAYSIA 5 1.27%

GREECE 60 $2,883 28.94% 8,319,759 25.40% RUSSIA 3 0.76%

NORWAY 31 $951 9.55% 2,004,652 6.12% ALL OTHER 30 7.61%

USA 28 $1,507 15.13% 3,084,132 9.41% UNDISCL 4 1.02%

CHINA 20 $386 3.88% 1,787,689 5.46% TOTAL 394 100.00%

INDONESIA 18 $184 1.85% 695,712 2.12%

UAE 12 $357 3.58% 524,564 1.60%

INDIA 12 $252 2.53% 1,676,928 5.12%

SINGAPORE 11 $152 1.53% 708,856 2.16%

KOREA 10 $84 0.84% 628,025 1.92%

FAR EAST 9 $71 0.71% 844,140 2.58%

BRAZIL 8 $187 1.87% 2,391,026 7.30%

DENMARK 7 $184 1.85% 289,092 0.88%

NIGERIA 6 $23 0.23% 147,921 0.45%

UNDISCL 73 $1,125 11.29% 5,014,273 15.31%

ALL OTHER 89 $1,616 16.22% 4,640,932 14.17%

TOTAL 394 $9,960 100.00% 32,757,701 100.00%

performed. It is for sure that the markets have been assisted by the

banks that resumed with all restraints though to assist in ship finance.

Another strong month in terms of Sale and Purchase activity both in

number of ships sold and also in terms of money spent. The tanker

markets are recovering and overall both the producty and crude

markets show a steady recovery outlook and that should not take

anyone by surprise as the cold winter presently experienced in

Northern Europe and Asia has resulted in the seasonal demand to

bring some smiles on the lips of shipowners

operating ships transporting petroleum products. Will this be just a

seasonal increase that will be shortlived or may we expect more

interest to develop in 2011? We believe that until alternative energy

sources are developed further the dependency on crude oil will

remain strong, and growing possible demand within their GDP growth

rates of China and India will result in a surge in demand for oil

products. The question is if OPEC can increase the production to meet

the positive expectations. Comparing the sales of Tankers in 2010 we

see that 358 tanekrs ships of a total of 31.7mil tones and 9.5bil value

h h d h d h i hi f il d d $

SOLD ENBLOC FOR $11m

FOR BOTH UNITS.

SELLERS ARE SEATRANS

AS, NORWAY

$11.00m

SOLD ENBLOC

TRANS VIK AND

TRANS SUND FOR

ABT $11 m FOR

BOTH UNITS TO

GAZPROM

GAZPROM RUSSIA

Japanese sellers are well in 2nd

place with 55 units (44 last), while

Singapore sellers are always 3rd

with 32 units (29 last) and Chinese

sellers are 4th unchanged for 4th

month with 25 ships, (all data is

ships sold during the period Jan‐

Nov 2010)

SELLERS STATS 2010

2010 TANKER buyer STATISTICS

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

Greek Sellers sold 6 more units in NOV 2010 and are in number one

position seling‐off 77 units (77 last).

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

September Greeks have acquired 6 more tankers this month and tally a total of 60units

(54 last) of 8.3million DWT carrying capacity, and have forked out a massive $2.9billion

USD. Norwegian based buyers are now placed in 2nd place with 31 units (24 last), and

we have USA bueyrs moving 3rd this month totalling 28 units, with Chinese 4th with 20

units. Indonesian buyers are 5th with 18 units of low value and small total carrying

capacity.

MONTHLY UNIT SALE ACTIVITY




2010 VLCC & ULCC SUEZMAXAFRAMAX

110K

PANAMAX

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

JANUARY 3 6 4 2 14 20 1 7 57FEBRUARY 3 0 7 5 8 10 0 0 33MARCH 5 1 5 0 2 21 0 3 37APRIL 4 2 4 4 8 10 0 5 37MAY 9 8 4 2 8 13 0 1 45JUNE 2 4 2 1 1 4 0 3 17JULY 9 0 3 0 3 6 0 1 22

AUGUST 2 0 4 4 8 14 0 2 34SEPTEMBER 2 1 7 3 9 4 0 0 26OCTOBER 9 1 6 1 10 14 0 3 44NOVEMBER 4 4 1 3 2 18 0 10 42DECEMBER 0 0 0 0 0 0 0 0 0

TOTAL 52 27 47 25 73 134 1 35 394

CHANGE

FROM 30/11/2009

VLCC $118.0 $97.0 $110.0 13%SUEZMAX $93.0 $68.0 $70.0 3%AFRAMAX $75.0 $49.0 $59.0 20%PANAMAX $60.0 $41.0 $45.0 10%MR PROD $52.0 $33.0 $38.0 15%

CHANGE

FROM 30/11/2009


CHANGE

FROM 30/11/2009

VLCC $115.0 $59.0 $62.0 5%SUEZMAX $75.5 $43.0 $43.0 0%AFRAMAX $56.0 $30.0 $34.0 13%PANAMAX $46.0 $24.0 $22.0 ‐8%MR PROD $39.0 $19.3 $18.0 ‐7%

CHANGE

FROM 30/11/2009


CHANGE

FROM 30/11/2009

VLCC $32.0 $17.0 $16.0 ‐6%SUEZMAX $26.0 $12.8 $12.5 ‐2%AFRAMAX $17.0 $9.1 $9.0 ‐1%PANAMAX $14.0 $6.2 $7.0 13%MR PROD $11.0 $4.5 $4.5 0%

1990 built (20Y old) TANKERS PRICE COMPARISON

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


30/11/10

TYPE

30/11/10

TYPE


30/11/08

30/11/1030/11/08

30/11/09 30/11/10

TANKER UNITS SOLD ‐ BREAKDOWN PER SIZE AND MONTH 2010

30/11/09

30/11/09

NB TANKERS PRICE COMPARISON

TYPE

30/11/08

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

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

to 2009's monthly activity.

30/11/09 30/11/10


TYPE 30/11/08 30/11/09


TYPE 30/11/08

NEWBUILDING TANKER PRICES 2000 - 2010

$24

$74

$124

$174

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K

5 YEAR OLD TANKER PRICES 2000 - 2010

$20

$70

$120

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K

Tanker units sold 2010 vs 2009

16

3734

42

0

2724

1622

17181916

35

21

45

26

17

4537

33

57

44

22

0

10

20

30

40

50

60

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

units 2009 2010 Tankers - Capital expend. 2010 vs 2009

$320 $310 $386

$657

$282

$798

$415

$759

$1,375

$229

$435$407

$790

$1,064

$579$691

$1,097 $1,085

$736$831

$608

$1,729

$750

$0$0m

$200m

$400m

$600m

$800m

$1,000m

$1,200m

$1,400m

$1,600m

$1,800m

$2,000m

JANUARY

FEBRUARY

MARCHAPRIL

MAYJUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

2009 2010


$0

$50

$100

$150

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


$0$20$40$60$80

$100$120

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K


$0

$10

$20

$30

$40

$50

Nov-00

May

-01

Nov-01

May

-02

Nov-02

May

-03

Nov-03

May

-04

Nov-04

May

-05

Nov-05

May

-06

Nov-06

May

-07

Nov-07

May

-08

Nov-08

May

-09

Nov-09

May

-10

Nov-10

VLCC 300K

SUEZ 150K

AFRA 110K

PANAMAX 70K

PROD 45K




NEWBUILDING ORDERS NOVEMBER 2010UNITS TYPE TONNAGE YEAR PRICE

2 BC 300,000 2012‐13

2 BC 300,000 2012‐13

2 BC 207,000 2012 $63.5

1 BC 205,000 2012

1 BC 180,000 2012 $60.0

5 BC 180,000 2012

4 BC 180,000 2012 $54.0

2 BC 180,000 2012‐13

4 BC 180,000 2012 $53.1

2 BC 107,600 2013

2 BC 105,700 2014

3 BC 95,000 2014‐15 $40.0

2 BC 82,000 2012 $37.0

1 BC 82,000 2012‐13 $34.5

1 BC 82,000 2012 $36.0

1 BC 82,000 2011 $34.0

2 BC 82,000 2012 $37.0

2 BC 81,700 2012 $34.0

2 BC 81,200 2012

2 BC 81,200 2012

1 BC 81,200 2012

1 BC 76,000 $29.5

1 BC 75,000 2012

2 BC 75,000 2013 $38.0

4 BC 75,000 2012 $37.0

5 BC 70,000 2012‐13

2 BC 59,800 2012

4 BC 58,000 2013 $32.8

2 BC 57,300 2013

3 BC 57,000 2012‐13 $29.0

2 BC 57,000 2013

5 BC 57,000 2012‐13

4 BC 55,800 2012‐13

2 BC 37,200 2013

1 BC 37,000 2013

6 BC 37,000 2013

2 BC 35,000 2012 $26.0

2 BC 35,000 2013 $26.0

2 BC 35,000 2011

6 BC 35,000 2012‐13 $25.5

1 BC 29,100 2012

1 BC 23,000 2011

2 BC 11,000 2012

3 CONT 85,000 2012‐13 $81.5

4 CONT 56,500 2013 $50.0

2 CONT 56,000 2012 $52.0

4 CONT 55,000 2012‐13 $51.0

4 CONT 50,000 2013 $50.0

NYK LINE

HYUNDAI MERCHANT MARINE

OPTION 2 MORE

COBELFRET

HANZEVAST CAPITAL B.V.

PACIFIC BASIN

ESSBERGER

NAKANISHI KIKAI

UNDISCLOSED PRICE

JINHAI HI

SHANGHAI JIANGNAN

CHANGXING

BEIBU GULF SHIPPING

HAIBAO SHIPPING

WUCHANG

QINGDAO BEIHAI

WUCHANG

DALIAN SHIPBUILDING

SAFE BULKERS

DALNAVE NAV.

SUNGDONG

SHANGHAI SHIPYARD

HANJIN SUBIC BAY

HAKATA

JSC SHIPYARD LOTOS‐RUSSIA

STX SHIPBUILDING

HANJIN SUBIC BAY

ZHEJIANG YANGFAN

QIDONG DAOLA

JIANGMEN NANYANG

YANGZHOU NAKANISHI

ZHEJIANG OUHUA

ONOMICHI

ONOMICHI

ZHEJIANG YANGFAN

COSCO DALIAN SHIPYARD

MINAMI NIPPON

TIANJIN XINGANG

HYUNDAI MIPO

ZHEJIANG ZENGHE

JIANGNAN SHIPYARD

HYUNDAI MIPO

HYUNDAI MIPO

OSHIMA

HYUNDAI VINASHIN

TSUNEISHI ZHOUSAN

STX DALIAN

RELIANCE POWER

CSDC

HAIBAO SHIPPING

CHINA SHIPPING TRAMP

MITSUI OSK LINES

KAWASAKI KISEN (JAPAN)

NOTESBUYER’S NAME

GUANGXI BEIBU GULF

YARD

NYK LINE

MOL

MITSUI OSK

GOLDEN FLAME SHIPPING

UNIVERSAL SHIPBUILDING

UNIVERSAL SHIPBUILDING ORE CARRIER

AKMAR SHIPPING & TRADING

FIRST STEAMSHIP

TRANSOCEAN MONACO

JAPANESE

DENZA DENIZCILIK OPTION 1 MORE. GEARLESS

GEARLESS

BEIBU GULF SHIPPING

FAR EAST SHIPPING CO (JAPAN)

ORIENT MARINE CO

PACIFIC BASIN

HELIKON SHPG ENT

DONGGUAN HAICHANG SHIPPING

CHINA

CHINA SHIPPING DEVELOPMENT

SOVCOMFLOT

NOVOSHIP

FUKUSEI SANGYO JPN

WESTERN SHPG CO

SHIPPING CORPORATION OF INDIA

DELPHIS

GOLDENPORT

NILE DUTCH AFRICA LIVE

DELPHIS NV BULGARIA

OPTION 2 MORE

EXCESS $37m

OPTION 1 MORE

1

GEARLESS

PRICE UNDISCLOSED. VESSEL ORDERED FOR

DOMESTIC SERVICE

6 NOW ORDERED

UNDISCLOSED PRICE

OPTIONS EXERCISED. 4 NOW ON ORDER

WOODCHIP CARRIER

PRICE VARIES AMONG $37‐39 MIL. ORDERED

AGAINST LONG TERM COAL AGREEMENT.

THESE ARE THE 1ST PANAMAX BULKERS TO BE

CONSRUCTED AT HYUNDAI SHIPYARD SINCE

2002. OTHER REPS SAY PRICE CIRCA $37m EACH

5 MORE TO BE ORDERED IN 2011

3600 TEU. ALTHOUGH IT IS WIDELY REPORTED

TO BE GOLDENPORT THAT HAVE INKED THE

ORDER THIS IS NOT 100% CONFIRMED.

3500 TEU. GEARED. THE VESSELS WILL ENTER IN

AFRICA‐ASIA LINER SERVICES

3800 TEU. OPTION 4 MORE

DALIAN SHIPBUILDING

SHANGHAI JIANGNAN

CHANGXING

DAEHAN SHIPBUILDING

UNIVERSAL SHIPBUILDING

HYUNDAI

ZHEJIANG OUHUA

DAEWOO MANGALIA

MINAMI NIPPON

OSHIMA

IMABARI

SUNGDONG

QINGDAO BEIHAI

SUNGDONG

ASIAN BUYER

MITSUI OSK LINES

PACIFIC INTERNATIONAL LINES

RAY SHIPPING

ORDER IS THE REPLACEMENT FOR 2 CANCELLED

6500 CEU CAR CARRIERS ORIGINALLY ORDERED

AT HYUNDAI MIPO. RAY SHIPPING IS ONLY

INVOLVED IN CAR TRADES AND HAS NO

EXPERIENCE IN BULK TRANSPORT

FEDNAV LIMITED

UNDISCLOSED PRICE. ORIENT MARINE CO IS A

SUBSIDIARY OF MITSUI OSK OF JAPAN

GEARED. OPTION 2 MORE

UNDISCLOSED PRICE. 4 NOW ORDERED

UNDISCLOSED PRICE. CONSTRUCTION IS A LEASE

FINANCE SCHEME WITH THE PARTICIPATION OF

JSC GOZNAK LEASE. FYI JSC SHIPYARD LOTOS IS

44% OWNED BY UNITED SHIPBUILDING

CORPORATION AND 45,7% BY THE CASPIAN

ENERGY GROUP

PRICE VARIES $80‐83 MIL . 6500 TEU

3800 TEU. OPTION 4 MORE




4 CONT 17,000

2011,2012,201

3 $18.1

5 CONT 17,000 2012‐13 $19.0

4 CONT 17,000 2012‐13 $18.1

2 CONT 15,600 2011‐12 $57.3

1 CONT 15,400 2011 $19.1

1 GAS 51,100 2012

6 GAS 12,000 2012‐13 $40.0

1 GAS 1,000 2011

4 MPP 28,000 2013 $40.0

4 MPP 28,000 2013 $40.0

2 MPP 20,000 2012‐13

1 OTHER 15,600 2012

2 OTHER 5,000 2012‐13

2 OTHER 3,100 2012

2 OTHER 3,100 2012

2 OTHER 2013 $220.0

1 OTHER 2013 $510.0

2 OTHER 2013 $600.0

2 OTHER 2012‐13 $380.0

2 PAX 6,750 2013 $600.0

1 PAX 5,000 2013 $312.0

3 PAX 2,500 2012

2 PAX 2013‐14 $850.0

1 PAX 2011

1 PAX 2011 $17.0

2 RORO 12,000 2012 $172.0

1 RORO 6,000 2013

4 TANKER 320,000 2012‐13

2 TANKER 317,000 2013 $110.0

2 TANKER 300,000 2012‐13 $105.0

2 TANKER 165,000 2012 $69.0

2 TANKER 157,000 2013‐14 $62.0

2 TANKER 112,100 2012‐13 $64.0

2 TANKER 112,100 2012‐13

2 TANKER 73,000 2012‐13

2 TANKER 40,400 2012

MITSUBISHI

STX FINLAND

HIGHSPEED S.B.

MEYER WERFT GERMANY

SAMSUNG

DALIAN SHIPBUILDING OFFSHORE

ULJANIK

GREATSHIP GLOBAL OFFSHORE

STX LANGSTEN (NOR)

STX VIETNAM OFFSHORE

ABG SHIPYARD

DAEWOO

MIURA

NANTONG COSCO KHI

SHANGHAI SHIPYARD

HUDONG ZHONGHUA

DAE SUN SB

DAESUN

MITSUBISHI

SINOPACIFIC

YANGFAN GROUP

TAIZHOU KOUAN

ZHEJIANG YANGFAN

SITC INTERNATIONAL

NORSE MANAGEMENT

SHANDONG INT TRANS

SITC INTERNATIONAL

SITC INTERNATIONAL

ASTOMOS ENERGY CORP

JACAR HOLDINGS LUXEMBURG

HIYOSHI KISEN

COSCO SHIPPING LTD

COSCO SHIPPING LTD

BELUGA SHIPPING

JAN DE NUL

COLOMBO DOCKYARD

FARSTAD SHIPPING

FARSTAD SHIPPING

SHUN SHINE

NORWEGIAN CRUISE LINE

DRILLING & OFFSHORE

CHEVRON CORPORATION

SEADRILL

SEADRILL

1100 TEU. 4+2+2

1100 TEU

110 TEU

SHIN NIHONKAI FERRY

VIKING LINE

COSCO BOOKED 8 MPPs AT NANTONG COSCO

KHI AND SHANGHAI SHIPYARD. ORDER IS

BROKEN IN 2 ORDERS OF 4 VSLS AT EACH YARD

COSCO BOOKED 8 MPPs AT NANTONG COSCO

KHI AND SHANGHAI SHIPYARD. ORDER IS

BROKEN IN 2 ORDERS OF 4 VSLS AT EACH YARD

MPP / FREIGHTERS AS MARK III VERSIONS OF ITS

SUCCESSFUL P SERIES OFFERING HEAVY LIFT

CAPACITY. TWO CRANES OF 1000 TONNES

COUPLED TO PRODUCE A MAX LIFT OF 2000

TONNES. THE ORDER IS PART OF 10 SIMILAR

NB'S ORDERED IN 2007 AND 2008 BY THE SAME

OWNER

820 PAX, 80 CARS, 150 TRAILERS, LOA 224.8 M,

BEAM 26 M, SERVICE SPEED 31 KNOTS

CRUISE FERRY WITH A 2800 PAX OF WHICH 870

PAX IN CABINS AND 1300 LM FOR TRUCKS AND

A SEPARATE 500 LM FOR CARS. BUILDING WILL

COMMENCE 3Q OF 2011. TURKU/STOCKHOLM

ROUTE. LNG FUEL UNDER SERIOUS

CONSIDERATION. CONSTRUCTION AT TURKU.

PRELIMINARY CONTRA

JACKUP DRILLING RIGS WITH AN OPERATING

DEPTH 350 FT. DRILLING DEPTH 30,000 FT.

SPECIALLY DESIGNED FOR GULF OF MEXICO AND

NORTH SEA USE

OIL PLATFORM. CUSTOM PURPOSE TO BE USED

TO EXTRACT OIL & GAS OFF ANGOLA

ULTRA DEEPWATER DRILLSHIPS. OPTION 2

MORE UNTIS CAPABLE OF AN OPERATING

DEPTH UP TO 4000 M

2x1040 TEU & 1x953 TEU GEARED ORDERED

ENBLOC PRICE $57.3 MIL

1000 TEU. DELY DEC 2011

ENERGY CORP ESTABLISHED IN 2006 AS A

SUBSIDIARY OF BY MITSUBISHI CORP.,

MITSUBISHI LIQUIFIED GAS CO., AND IDEMITSU

GAS

LPG 12,000 CBM

JACK UP DRILLING RIGS. OPTION FOR FURTHER 2

UNITS HAE BEEN ARRANGED AS A PART OF THE

DEAL. THE RIGS ARE CAPABLE OF WORLDWIDE

OPERATIONS IN AREAS INCLUDING NORTH

P&C PRICE ‐ TRAILING SUCTION HOPPER

DREDGER

ASSENS DENMARK FURSUND FAERGERI A/S DENMARKUNDISCLOSED PRICE. 147 PAX. DOUBLE ENDED

FERRY

143,500 GT. CONFIRMED ORDER

3 OF THE VESSELS WILL BE OF STX PSV 08 CD

DESIGN WITH 2 BEING BUILT AT STX IN

VIETNAM AND THE OTHER AT LANGSTEN YARD

OF STX IN NORWAY. THE 4TH VESSEL WILL BE A

UT 754 WP DESIGNED BY ROLLS ROYCE TO BE

BUILT AT STX LANGSTEN YARD IN NORWAY.

3 OF THE VESSELS WILL BE OF STX PSV 08 CD

DESIGN WITH 2 BEING BUILT AT STX IN

VIETNAM AND THE OTHER AT LANGSTEN YARD

OF STX IN NORWAY. THE 4TH VESSEL WILL BE A

UT 754 WP DESIGNED BY ROLLS ROYCE TO BE

BUILT AT STX LANGSTEN YARD IN NORWAY.

FISKERSTRAND BLRT NORWAY FJORD 1 NORWAY 150 PAX 50 CARS

P&S WERFTEN DFDS A/S

ENBLOC PRICE. 342 TEU, 3000 LM. THE VESSELS

WILL BE FOR MILITARY USE BY DENMARK AND

GERMANY IF AND WHEN REQUIRED

MITSUBISHI A LINE FERRY CO LTD

NEW TIMES SHIPBUILDING DYNACOM TANKERS

JIANSU RONGSHENG SHIPPING CORP OF INDIA OPTION 2 MORE

MITSUBISHI MITSUI OSK LINES

MALACCMAX DESIGN. THIS IS THE FIRST VLCC

NB CONTRACT FOR MITSUBISHI SINCE THE

COLLAPSE OF THE SHIPPING MARKETS IN 2008

HYUNDAI SAMHO NJ GOULANDRIS

JIANGSU RONGSHENG CENTRAL MARE INC OPTION 2. SUBJECTS NOT YET LIFTED.

HYUNDAI H.I.ARAB MARITIME PETROLEUM

TRANSPORT COMPANY PRODUCT CARRIERS

HYUNDAI AMPTC EGYPT COATED. PROD CARRIERS

OSHIMA RIO TINTO SHIPPING

COSTANZA HISTRIA SHIPMANAGEMENT




1 TANKER 40,400 2012

1 TANKER 13,800 2011

1 TANKER 12,700 2013

2 TANKER 8,500 2013

1 TANKER 4,450 2011 $10.8


2010 ORDERS UNITS BC MPP CONT TANKER LNG/LPG ALL OTHER TOTALJANUARY 35 68 42 0 0 12 6 8 68FEBRUARY 39 75 35 0 0 18 4 18 75MARCH 44 121 71 0 5 29 3 13 121APRIL 18 49 32 0 0 16 1 0 49MAY 34 88 63 0 0 20 2 3 88JUNE 42 122 75 10 1 32 0 4 122JULY 57 156 70 9 15 48 8 6 156

AUGUST 57 147 93 3 8 32 8 3 147SEPTEMBER 60 138 68 3 22 38 0 7 138OCTOBER 73 217 92 4 43 56 6 16 217NOVEMBER 90 210 104 10 35 26 8 27 210DECEMBER 0 0 0 0 0 0 0 0 0TOTAL 549 1,391 745 39 129 327 46 105 1,391

DRY BULK ORDERS 2010CAPESIZE 113 UNITS

POST PANAMAX 38 UNISKAMSARMAX 215 UNITS

PANAMAX 62 UNITS

SUPRAMAX 107 UNITS

HANDYMAX 114 UNITS

HANDIES 96 UNITS

745 TOTAL

TANKER ORDERS 2010VLCC 68 UNITS

SUEZMAX 80 UNITS

AFRAMAX 57 UNITS

LR 22 UNITS

MR 34 UNITS

261 TOTAL

BULK CARRIERS ‐ NEWBUILDING ORDERS PER MONTH FOR 20102010 CAPESIZE POST PANAMAX KAMSARMAX PANAMAX SUPRAMAX HANDYMAX HANDIES SMALL BULKER ALL TYPES

JANUARY 8 1 10 3 7 13 42FEBRUARY 6 9 4 7 9 35MARCH 12 24 9 25 1 71APRIL 5 9 4 4 8 2 32MAY 9 1 27 14 3 4 5 63JUNE 14 24 2 16 6 13 75JULY 6 4 23 7 12 18 70

AUGUST 11 9 29 3 6 18 15 2 93SEPTEMBER 6 27 10 9 8 8 68OCTOBER 13 7 24 2 16 22 8 92NOVEMBER 23 7 14 13 22 23 2 104DECEMBER 0TOTAL 113 38 215 62 107 66 139 5 745

TANKER ‐ NEWBUILDING ORDERS PER MONTH FOR 2010

2010 VLCC SUEZMAX AFRAMAX LR MR CHEMICAL ALL TYPES

JANUARY 3 5 1 3 12

FEBRUARY 4 5 9 18

MARCH 6 8 4 11 29

APRIL 5 3 4 4 16

MAY 6 6 2 5 1 20

JUNE 2 24 6 32

JULY 13 15 3 5 5 7 48

AUGUST 7 14 5 3 3 32

SEPTEMBER 6 4 5 8 2 13 38

OCTOBER 8 2 29 17 56

NOVEMBER 8 4 4 2 3 5 26

DECEMBER 0

TOTAL 68 80 57 22 34 66 327

COSTANZA NOVELLA OTTAVIO

SHITANOE DAIICHI TANKER CO CHEMICAL

MARMARA TERSANESI YILMAR SHIPPING & TRADING CHEMICAL

MARMARA TERSANESI YILMAR SHIPPING & TRADING CHEMICAL

REVAL SHIPBUILDING OUTURKMENIAN SEA & RIVER SHIPPING

CO

NEWBUILDING ORDERS BREAKDOWN by TYPE PER MONTH, for YEAR 2010

NEW BUILDING ORDERS PER SHIPTYPES IN 2010

BC, 745, 53%

MPP, 39, 3%CONT, 129, 9%

TANKER, 327, 24%

LNG/LPG, 46, 3%

ALL OTHER, 105, 8%

DRY BULK ORDERS 2010

42 35

71

3263 75 70

9368

92 104

0

20

40

60

80

100

120

Jan-1

0

Feb-1

0

Mar-1

0

Apr-10

May-

10

Jun-1

0

Jul-1

0

Aug-10

Sep-1

0

Oct

-10

Nov-10

BULKERS

TANKER ORDERS 2010

12 1829

16 2032

4832 38

56

26

0

10

20

30

40

50

60

Jan-1

0

Feb-1

0

Mar-1

0

Apr-10

May-

10

Jun-1

0

Jul-1

0

Aug-10

Sep-1

0

Oct

-10

Nov-10

BULKERS




2010NAME TYPE YEAR BUILT DWT LDT PRICE BREAKER IMO

SOUTHWAY TANKER 1988DAEWOO

SHIPBUILDING 152,412 21,189 465$ BANGLADESH 8613841

HS PIONEER BC 1982 NKK CORP ‐ TSU 145,229 23,620 410$ CHINA 8022004

RUBY PRINCESS TANKER 1975 GOTAVERKEN 140,905 20,000 ‐ CHINA 7389015

JIANMAO 1 BC 1981 HYUNDAI H.I 127,907 20,109 405$ CHINA 7917862

OCEAN POWER TANKER 1983 SCOTT LITHGOW PGLS 127,800 21,415 470$ BANGLADESH 7925728

STAR III TANKER 19913 MAJ

BRODOGRADILISTE 106,680 19,952 450$ INDIA 8805688

SWAT TANKER 1985 ASTANO 86,593 16,020 468$ PAKISTAN 7917408

BASIL BC 1983 COSHIN SHIPYARD 76,440 14,158 435$ INDIA 7532650

ENDEAVOUR RIVER TWEEN 1983 ITALCANTIERI MFL 75,105 18,517 ‐ BANGLADESH 8019007

LANCER TANKER 1984HYUNDAI HEAVY INDS ‐

U 67,164 13,326 400$ BANGLADESH 8224119

AVIL TANKER 1985HYUNDAI HEAVY INDS ‐

U 67,153 13,300 400$ BANGLADESH 8316625

BERGE RACINE TANKER 1985 NORD ET MED LA CIOT 63,254 21,978 455$ INDIA 8116582

KUN MING HU TANKER 1982 HITACHI ZOSEN ‐ NAG 60,585 ‐ ‐ CHINA 8013558

AFFLATUS BC 1985DAEWOO

SHIPBUILDING 43,309 ‐ ‐ CHINA 8309660

NIKI TANKER 1988HYUNDAI HEAVY INDS ‐

U 39,989 8,300 477$ PAKISTAN 8607842

BOW PANTHER TANKER 1986KOREA SHBLDG & ENG ‐

B 39,422 9,689 478$ INDIA 8316728

FEDON BC 1980 BALTIYSKIY 38,250 9,425 460$ INDIA 7942336

BAO YUAN MEN BC 1982 LEVINGSTON ORANGE 37,061 8,244 ‐ INDIA 7821178

ASRAAR‐E‐MOSTAFA BC 1977 NKK CORP SHIMIZU 35,271 7,960 ‐ BANGLADESH 7600768

STAR CARRIER BC 1983HITACHI ZOSEN ‐

INNOSH 35,218 9,710 455$ INDIA 8125569

PHUC HAI MOON BC 1979 MITSUI FUJINAGATA 34,227 7,732 435$ INDIA 7527198

MT PHOENIX TANKER 1977 WARTSILA ‐ TURKU 32,100 7,430 468$ INDIA 7359503

SEA PRINCE I TANKER 1981HYUNDAI HEAVY INDS ‐

U 31,000 7,637 470$ PAKISTAN 7910979

CM SPIRIT TANKER 1970GULFPORT

SHIPBUILDING 27,726 6,402 468$ INDIA 7046168

MAHA VIDYA BC 1977 OSHIMA SHIP 27,451 6,542 455$ PAKISTAN 7617577

STAG BC 1978 KOYO MIHARA 27,348 7,430 403$ CHINA 7641425

CAPT. GIORGIOS BC 1980 GEORGI DIMITROV SHI 25,573 7,836 ‐ PAKISTAN 7919834

USTICA TANKER 1986 NORD ET MED DUNKIRK 24,225 7,872 ‐ INDIA 8406303

DA QING 244 TANKER 1977 DALIAN SHIPYARD CO 24,119 6,080 380$ CHINA 8425347

ROSBORG BC 1978 TSUNEISHI SHBLDG ‐ 22,986 8,170 405$ CHINA 7813183

RAIN TANKER 1983 KOREA SHBLDG & ENG 22,651 6,333 ‐ BANGLADESH 8101056

BOLAN TWEEN 1980 KAWASAKI HEAVY INDS 18,145 5,635 448$ PAKISTAN 7822108

JUVITER TANKER 1980 NAIKAI SHIPBUILDING 17,987 ‐ ‐ TURKEY 7908457

BUTET BC 1978 TSUNEISHI SHBLDG ‐ 17,475 5,055 410$ BANGLADESH 7710173

INTUITION TANKER 1979 OSAKA SHIPBUILDING 16,457 3,603 ‐ TURKEY 7825801

TORRENT TANKER 1975 HASHIHAMA SHBLDG ‐ 15,767 3,809 468$ INDIA 7412771

JAIPUR BC 1981 CCN ‐ MAUA ‐ NITERO 15,015 ‐ ‐ INDIA 7433256

EASTERN SEA BC 1983 NEPTUN SCHIFFSWERFT 12,665 6,002 ‐ BANGLADESH 8311039

ASTRO VENUS RORO 1982TSUNEISHI

SHIPBUILDING 12,464 9,508 450$ PAKISTAN 8208414

DONG FANG GAO SU RORO 1984 MITSUBISHI KOBE 11,940 ‐ ‐ CHINA 8401274

SELLERS ARE OVERSEAS MARINE ENR GREECE ‐ SHIRDI

STEEL TRADERS ARE BREAKERS

SELLERS ARE HOLYMAN PTY LTD, AUSTRALIA

CRUDE OIL TANKER ‐ SELLERS ARE GLOBAL

MARKETING SYSTEMS ROMANIA

SELLERS ARE STX SHIP MANAGEMENT CO SOUTH

KOREA

SELLERS ARE NKD MARTIIME BVI UK ‐ PRIYA BLUE

INDUSTRIES PVT ARE BREAKERS

SELLERS ARE PAKISTAN NATIONAL SHIPPING

PAKISTAN

CRUDE OIL TANKER 0 SELLERS ARE SHIPPING

CORPORATION OF INDIA

CRUDE OIL TANKER 0 SELLERS ARE SHIPPING

CORPORATION OF INDIA

SELLERS ARE HIN LEONG TRADING SINGAPORE

NOTES

NOVEMBERREPORTED DEMOLITION DEALS

FPSO OIL

SELLERS ARE COSCO WALLEM SHIP MANAGEMENT,

CHINA

SELLERS ARE BW GAS AS, NORWAY

CRUDE OIL TANKER ‐ SELLERS ARE COSCO CHINA

SELLERS ARE ISLAMIC REPUBLIC OF IRAN SHIPPING

LINES, IRAN

AS IS FUJAIRAH. SELLERS ARE A.K. SHIPPING &

TRADING INC., GREECE

SELLERS ARE ODFJELL MANAGEMENT AS, NORWAY.

INCLUDING 70 TONNES OF STAINLESS STEEL

SELLERS ARE MACHRIMAR MANAGEMENT S.A.,

GREECE

SELLERS ARE CHINA GOVERNMENT

SELLERS ARE NOBPAC SHIP MANAGEMENT,

BANGLADESH. ALREADY BEACHED

SELLERS ARE ASP SHIP MANAGEMENT LTD, UNITED

KINGDOM

SELLERS ARE PHUC HAI CO LTD, VIETNAM

SELLERS ARE OLIMPEX NIGERIA LTD, NIGERIA

(MARIKA INVESTMENTS)

SELLERS ARE SHIP & SHORE SERVICES LTD, NIGERIA

SELLERS ARE OLIMPEX NIGERIA LTD, NIGERIA

(MARIKA INVESTMENTS) ‐ KUMAR STEEL ARE

BREAKERS

SELLERS ARE FIVE STARS SHIPPING CO PVT LTD INDIA

SELLERS ARE CLIO NAVIGATION CORP GREECE. SHE

HAD BEEN REPORTED SOLD BACK IN MAY 2008 AT A

LEVEL OF $11.5m

SELLERS ARE BULGARE NAVIGATION BULGARIA

SELLERS ARE MAROC PHOSPHOR OCEAN, MAROCCO

JIANGMEN YINHU SHIP BREAKING ‐ SELLERS ARE

CHINA SHIPPING GROUP

SELLERS ARE DANNEBROG REDERI A/S DENMARK

CHEMICAL/PRODUCTS TANKER ‐ SELLERS ARE

NAVIMAR LUGANO SWITZERLAND

SELLERS ARE PAKISTAN NATIONAL SHIPPING

PAKISTAN

PRODUCTS TANKER ‐ SELLERS ARE INTERSEA

MANAGEMENT SWITZERLAND

SELLERS ARE CHINA SHIPPING INTERNATIONAL

SHIPMANAGEMENT CO LTD, CHINA (COSCO)

SELLERS ARE TARK ENTERPRISES LIBERIA

SELLERS ARE FIVE STARS SHIPPING CO PVT LTD INDIA

SELLERS ARE ALLUNITED MARITIME BUSINESS

BANGLADESH

SELLERS ARE MMS CO LTD, JAPAN. ASIS AQABA INCL

1000 TONS OF BUNKERS ROB AT NO EXTRA COST TO

THE BUYER. OTHERS REP AT $455/T

SELLERS ARE A.T.L. SHIPPING LTD, CYPRUS

AGS LTD ‐ PRODUCTS TANKER ‐ SELLERS ARE AZURE

SERVICES GREECE




STORM BAY REEFER 1983SHIN YAMAMOTO

KOCHI 11,720 6,384 420$ INDIA 8307911

PERLA ADIB BC 1976 SCHUERENSTEDT SCHIF 10,890 ‐ ‐ TURKEY 7434937

AEGEAN SKY RORO 1974 FRAMNAES 9,641 5,998 ‐ INDIA 7369039

FU HAN KOU RORO 1986 FREDERIKSHA 9,300 ‐ ‐ CHINA 8322753

NURETTIN AMCA BC 1973 WATANABE ZOSEN KK ‐ 8,303 ‐ ‐ TURKEY 7334577

TIAN CHANG BC 1978 SETOUCHI 7,943 3,567 420$ INDIA 7706330

MIKUE BC 1980SINGAPORE SLIPWAY &

EN 7,909 2,458 440$ INDIA 7702592

DUCKY SYMPHONY RORO 1979 AESA SESTAO 6,906 5,669 430$ INDIA 7713280

CARIBBEAN CARRIER RORO 1983 MATHIAS‐THESEN 6,704 5,390 ‐ INDIA 8306565

SOUTHERN ARROW BC 1984DAEDONG

SHIPBUILDING 6,549 2,014 385$ CHINA 8404393

GOLDEN LINE 8 BC 1982DAEDONG

SHIPBUILDING 6,485 2,044 385$ CHINA 8105430

IMAN TANKER 1986RAUMA‐REPOLA OY ‐

RAUM 6,237 3,163 448$ INDIA 8406638

TOPAZ SD 1969IMABARI SHIPBUILDING

‐ 5,849 ‐ ‐ BANGLADESH 7010250

CHANG XIN 102 BC 1978 HONDA SAIKI 5,372 ‐ ‐ CHINA 7709291

SNAV SICILIA PAX 1974 WESER SEEBECKWERFT 5,341 ‐ ‐ INDIA 7333822

SNAV CAMPANIA RORO 1974 WESER SEEBECKWERFT 5,280 11,505 440$ INDIA 7360710

CUSTOM TANKER 1981 MIYOSHI 4,990 2,675 462$ PAKISTAN 8001866

CORAL MOON RORO 1985 GALATI 4,100 5,450 428$ INDIA 8503876

ARINA MPP 1974 BODEWES GRUNO BV 4,017 ‐ ‐ TURKEY 7367964

AFANASIY BOGATYREV SD 1973 OKA NAVASHINO 4,000 ‐ ‐ CHINA 7337701

KASID KAREEM BC 1973 NISHI SHIPBUILDING 3,690 ‐ ‐ TURKEY 7313004

CONDOCK I OTHER 1979 NOBISKRUG WERFT ‐ G 3,603 2,406 ‐ INDIA 7812749

ALEXANDER SKVORETS SD 1967 KRASNOYE SORMOVO 3,352 ‐ ‐ TURKEY 6919100

FORWARD 1 SD 1971 ZTS 3,283 ‐ ‐ TURKEY 8858221

NIJORD BC 1980 NOBISKRUG WERFT ‐ G 3,214 ‐ ‐ TURKEY 8007157

CARIBBEAN EXPRESS RORO 1976 NOBISKRUG WERFT ‐ G 3,180 ‐ ‐ INDIA 7400778

BETUL SD 1971 DENIZCILIK ISTINYE 2,756 ‐ ‐ TURKEY 7015846

LIDER TRABZON SD 1979 PETERS H. 2,515 ‐ ‐ TURKEY 7907350

QUALITY SPIRIT TANKER 1968NIEUWE NOORD

NEDERL 2,303 ‐ ‐ TURKEY 6901658

AKADEMIK ALEKSANDR

VINOGRADOVOTHER 1983 A WARSKIEGO STOCZNI 2,188 ‐ ‐ AS IS 7826312

THINH CUONG 14 SD 1985 ANPHU 2,150 ‐ ‐ AS IS 8837423

SIGAS MASTER GAS 1985 PATTJE WATERHUIZEN 1,929 1,099 277$ TURKEY 8325327

PANAGIA

CHRISOSKALITISSATANKER 1977 ITO 1,806 ‐ ‐ TURKEY 7639496

SEALARK SD 1979 COOK J.W. WIVENHOE 1,559 582 ‐ PAKISTAN 7711402

RUBY SD 1982 YORKSHIRE D.D. 1,230 ‐ ‐ INDIA 8127646

IZUMRUDNYY TRAWLER 1974MATHIAS‐THESEN‐

WERF 1,212 ‐ ‐ CHINA 7348425

JET VIII TANKER 1986 TULCEA SANTIERUL NA 1,200 ‐ ‐ TURKEY 8861474

JET XII TANKER 1988 TULCEA SANTIERUL NA 1,200 ‐ ‐ TURKEY 8861656

MAROANTSETRA SD 1976 NORDSOVAERFTET A/S 700 ‐ ‐ INDIA 7507069

OSKAR TRAWLER 1964 BEER 410 ‐ ‐ AS IS 6416768

STREZHEVOY TRAWLER 1976 VOLGOGRADSKIY 293 ‐ ‐ CHINA 7640861

ALEX IV TRAWLER 1970 MANCHE ATELIERS ‐ D 213 ‐ ‐ TURKEY 7039115

GUARD VALIANT OTHER 1939 FRAMNAES ‐ ‐ ‐ AS IS 5041968

ADALVIK TRAWLER 1959VOLKSWERFT

STRALSUN ‐ ‐ ‐ AS IS 5276733

Note1: With Red color are indicated all Greek interest Sales

SOK DENIZCILIK TIC LTD STI ‐ SELLERS ARE KUTUP

SHIPPING TURKEY

SELLERS ARE TIANJIN INTERNATIONAL MARINE

SHIPPING CO, CHINA

SELLERS ARE GLOMAR SUPPLIES LTD, PANAMA

SELLERS ARE TMT CO LTD, CHINA

SELLERS ARE ALISCAFI SNAV SPA, ITALY

SELLERS ARE INTERNATIONAL SHIPPING PARTNERS

INC, USA

SELLERS ARE PAMELA CORP, KOREA

SELLERS ARE DALIAN TRANSQUARE‐LINE

INTERNATIONAL SHIP MANAGEMENT CO LTD, CHINA

SELLERS ARE RIGA TRANSPORT FLEET, LATVIA

RORO/PAX

VAN HEYGHEN RECYCLING ‐ SELLERS ARE FROM

ICELAND

SIMSEKLER GEMI SOKUM ‐ ALIAGA ‐ SELLERS ARE

GREEK

FORNAES APS ‐ STANDBY SAFETY VESSEL

K TERSANECILIK AS ‐ BUNKERING TANKER

SELLERS ARE OSCAR RUSSIA

SELLERS ARE AL HAMADIAN UAE

SELLERS ARE RUSSIAN

AS IS VIETNAM ‐ SELLERS ARE HAI PHONG

OGE GEMI SOKUM MAKINECILIK LTD ‐ LPG TANKER

EGE CELIK GEMI SOKUM AS ‐ PRODUCTS TANKER

SELLERS ARE BULGARIAN

GEMI YAN SANAYI VE TICARET AS

IZMIR GERI DONUSUM LTD

SELLERS ARE SEATRADE GRONINGEN BV,

NETHERLANDS. AS IS FUJAIRAH FOR RESALE INTO

INDIA

DORTEL GEMI SOKUM DEMIR VE CEL ‐ SELLERS ARE

ISM SHIPMAN SYRIA

SELLERS ARE AEGEAN CARGO MANAGEMENT SA,

GREECE

SELLERS ARE NYKCOS CAR CARRIER CO LTD

SELLERS ARE ARCTIC SHIPPING RUSSIA

SELLERS ARE NAVIGATOR TANKERS MANAGEMENT

S.A., GREECE

SELLERS ARE NOVA OSTRIA SHIPPING CO SA, GREECE

SIMSEKLER GEMI SOKUM ‐ ALIAGA ‐ SELLERS ARE

UNIFREIGHT RUSSIA

SELLERS ARE NAVEE GROUP THAILAND

CEMENT CARRIER ‐ SELLERS ARE CHINA

GOVERNMENT

PAX/RORO ‐ SELLERS ARE SNAV SPA ITALY

HISAR GEMI SOKUM AS ‐ SELLERS ARE SYRIAN

SHREE RAM GROUP ‐ BARGE CARRIER ‐ SELLERS ARE

FINANZPARTNER GMBH GERMANY

SELLERS ARE FROM MADAGASCAR

VAN HEYGHEN RECYCLING ‐ SELLERS ARE FROM

ICELAND

K TERSANECILIK AS ‐ BUNKERING TANKER

IZMIR GERI DONUSUM LTD ‐ CHEMICAL PRODUCTS

TANKER

RESEARCH SURVEY VESSEL ‐ SELLEERS ARE RUSSIAN

ACADEMY OF SCIENCE

SELLERS ARE STANDARD SHIPPING TURKEY

GEMI YAN SANAYI VE TICARET AS

KURSAN GEMI SOKUM LTD




DEMOLITION STATISTICS:

2010 UNITS DWT LDT

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

February 104 2,616,428 735,515 177 1,397,755 $377

March 131 4,638,388 1,059,123 431 3,101,361 $387

April 144 2,633,552 756,013 102 1,236,564 $401

May 117 2,217,041 577,318 187 246,058 $143

June 114 2,155,488 680,861 101 835,730 $395

July 70 2,146,301 535,116 143 424,168

August 96 2,629,984 632,117 1141 7,241,636 $341

September 90 1,560,615 401,275

October 76 1,754,845 408,617

November 84 2,184,590 450,392

December 0 0 0

TOTAL 1141 28,492,438 7,241,636

TOTAL DRY&WET

UNITS LDT TAKEN av $ UNITS LDT UNITS LDT DWT

177 1,397,755 376.9 128 1,247,716 16 150,039 5,373,914

431 3,101,361 387.5 283 2,031,401 132 1,069,960 10,197,932

102 1,236,564 401.0 38 308,590 63 927,974 6,437,777

187 246,058 143.5 82 202,766 14 43,292 955,957

101 835,730 395.3 41 215,869 57 619,861 3,884,512

143 424,168 23.5 26 135,373 12 111,130 883,836

1141 7,241,636 340.8 598 4,141,715 294 2,922,256 27,733,928

COUNTRY UNITS % rankGREECE 146 12.8% 1

CHINA 84 7.4% 2

UAE 67 5.9% 3

SINGAPORE 50 4.4% 4

USA 47 4.1% 5

TURKEY 43 3.8% 6

NORWAY 42 3.7% 7

SYRIA 41 3.6% 8

JAPAN 39 3.4% 9

RUSSIA 31 2.7% 10

INDIA 29 2.5% 11

UKRAINE 21 1.8% 12

UK 21 1.8% 12

VIETNAM 19 1.7% 14

ITALY 19 1.7% 14

DENMARK 18 1.6% 16

LEBANON 18 1.6% 16

LATVIA 17 1.5% 18

GERMANY 16 1.4% 19

KOREA 14 1.2% 20

ALL OTHER 349 30.6%

UNDISCL 10 0.9%

TOTAL 1141 100.0%

BANGLADESH

INDIA

BREAKER

TURKEY

PAKISTAN

OTHER/CASH/AS IS

TOTAL

LDT IN

TAKE P

ER SC

RAP COUNTR

Y

FOR 2010

2010 DEMOLITION SELLERS STATISTICS

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

UNIT IN

TAKE P

ER SC

RAP

COUNTR

Y FO

R 2010

INDIA

CHINA

DRYDETAILED BREAKER REGION ‐ STATISTICS FOR 2010

CHINA

BREAKER

WET

BREAKER – STATS ‘2010

TOTAL

OTHER/CASH/AS IS

BANGLADESH

TURKEY

PAKISTAN

Average Scrap Price & No of Ships Scrapped 2005-2010

1316

19

90

76

84

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

5070

125

104

131

115

94

6263

75

91

101

95

112

7379

134

117

144

11496

129

125

$100

$200

$300

$400

$500

$600

$700

$800

Jan-0

5

Mar

-05

May

-05

Jul-0

5

Sep-0

5

Nov-05

Jan-0

6

Mar

-06

May

-06

Jul-0

6

Sep-0

6

Nov-06

Jan-0

7

Mar

-07

May

-07

Jul-0

7

Sep-0

7

Nov-07

Jan-0

8

Mar

-08

May

-08

Jul-0

8

Sep-0

8

Nov-08

Jan-0

9

Mar

-09

May

-09

Jul-0

9

Sep-0

9

Nov-09

Jan-1

0

Mar

-10

May

-10

Jul-1

0

Sep-1

0

Nov-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

Mar

-05

May

-05

Jul-0

5

Sep-0

5

Nov-05

Jan-0

6

Mar

-06

May

-06

Jul-0

6

Sep-0

6

Nov-06

Jan-0

7

Mar

-07

May

-07

Jul-0

7

Sep-0

7

Nov-07

Jan-0

8

Mar

-08

May

-08

Jul-0

8

Sep-0

8

Nov-08

Jan-0

9

Mar

-09

May

-09

Jul-0

9

Sep-0

9

Nov-09

Jan-1

0

Mar

-10

May

-10

Jul-1

0

Sep-1

0

Nov-10

-15

5

25

45

65

85

105

125

145

DWTLDTNUMBER

CHINA, 1,397,755, 19%

INDIA, 3,101,361, 43%

BANGLADESH, 1,236,564, 17%

TURKEY, 246,058, 3%

PAKISTAN, 835,730, 12%

OTHER/CASH/AS IS,424,168, 6%

CHINA, 177, 16%

INDIA, 431, 37%

BANGLADESH, 102,

9%

TURKEY, 187, 16%

PAKISTAN, 101, 9%

OTHER/CASH/AS IS,143, 13%




BULKERS / SD

TANK/

OBO/GAS

CONT/

TWEEN/MPP REEFER

RORO PAX

CRUISE, OTHER

VEHICLES

CARRIERS

TRAWLER TUG

OTHER TOTAL

357 329 160 45 116 43 91 1,141 SHIPS

31.3% 28.8% 14.0% 3.9% 10.2% 3.8% 8.0% 100.0%

1,574,300 3,011,643 1,130,370 234,314 666,656 438,988 185,365 7,241,636

7,278,892 15,601,982 2,982,609 375,068 917,107 554,441 782,339 28,492,438

$390,446,458 $1,035,703,623 $280,966,853 $75,322,154 $163,328,939 $33,505,593 $48,318,155 $2,027,591,775

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)

AVERAGE AGE

STATS

DWT

LDT

%

UNITS

USD PAID

Demolition DATA for 2010

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 CHINA

$228$243

$215 $209$226

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

$312 $319$343

$375$411

$382 $370

$461

$381

$431$426$438

205

255

305

355

405

455

505

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09No

v‐09

Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10No

v‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 INDIA

$267 $262 $272 $259$234

$258 $249

$309$327

$291

$340$324

$362$344

$387

$457

$410

$370

$418$447

$485

$407 $405

220

270

320

370

420

470

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09No

v‐09Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10No

v‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 PAKISTAN

$271 $265 $261 $266$248

$282

$315

$273

$313 $312$293

$265

$379$353

$377

$459

$427

$392 $394 $396$407

$371$362

220

270

320

370

420

470

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09No

v‐09

Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10No

v‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 BANGLADESH

$274 $269

$311

$277

$240

$296 $289$300

$342$322 $322

$335

$362

$393 $392

$445$433

$400

$345

$384

$429

$384$384

220

270

320

370

420

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09No

v‐09

Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10No

v‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T

AVERAGE MONTHLY SCRAP PRICE 2009 ‐ 2010 TURKEY

$218

$183 $186$202

$172$155

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

$242

$216$205

$301

$277$295

$223$245

140

190

240

290

340

Jan‐09

Feb‐09

Mar‐0

9Apr‐09

May‐0

9Jun

‐09Jul‐09

Aug‐0

9Sep

‐09Oct‐09No

v‐09Dec‐0

9Jan

‐10Feb

‐10

Mar‐1

0Apr‐10

May‐1

0Jun

‐10Jul‐10

Aug‐1

0Sep

‐10Oct‐10No

v‐10

AV

ER

AG

E S

CR

AP

PR

ICE

U$

/LD

T




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

1/1/2010

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

01/11/10 2,648 ‐16% 4,231 1% 2,371 ‐38% 1,730 ‐22% 887 ‐23%

02/11/10 2,600 ‐17% 4,165 ‐1% 2,313 ‐39% 1,705 ‐23% 879 ‐24%

03/11/10 2,542 ‐19% 4,060 ‐3% 2,288 ‐40% 1,680 ‐24% 870 ‐24%

04/11/10 2,510 ‐20% 4,011 ‐4% 2,287 ‐40% 1,655 ‐26% 862 ‐25%

05/11/10 2,495 ‐21% 3,994 ‐5% 2,304 ‐40% 1,628 ‐27% 856 ‐26%

08/11/10 2,482 ‐21% 3,984 ‐5% 2,322 ‐39% 1,597 ‐28% 851 ‐26%

09/11/10 2,467 ‐21% 3,938 ‐6% 2,361 ‐38% 1,580 ‐29% 844 ‐27%

10/11/10 2,454 ‐22% 3,882 ‐8% 2,437 ‐36% 1,552 ‐30% 841 ‐27%

11/11/10 2,366 ‐25% 3,695 ‐12% 2,432 ‐36% 1,532 ‐31% 835 ‐27%

12/11/10 2,313 ‐26% 3,612 ‐14% 2,365 ‐38% 1,516 ‐32% 833 ‐28%

15/11/10 2,261 ‐28% 3,530 ‐16% 2,294 ‐40% 1,495 ‐33% 828 ‐28%

16/11/10 2,219 ‐29% 3,490 ‐17% 2,216 ‐42% 1,474 ‐34% 816 ‐29%

17/11/10 2,188 ‐30% 3,492 ‐17% 2,122 ‐44% 1,457 ‐34% 804 ‐30%

18/11/10 2,164 ‐31% 3,496 ‐17% 2,063 ‐46% 1,431 ‐36% 795 ‐31%

19/11/10 2,155 ‐31% 3,526 ‐16% 2,038 ‐47% 1,389 ‐38% 788 ‐32%

22/11/10 2,179 ‐31% 3,585 ‐15% 2,061 ‐46% 1,369 ‐38% 780 ‐32%

23/11/10 2,199 ‐30% 3,593 ‐14% 2,112 ‐45% 1,370 ‐38% 779 ‐32%

24/11/10 2,213 ‐30% 3,539 ‐16% 2,194 ‐43% 1,392 ‐37% 781 ‐32%

25/11/10 2,200 ‐30% 3,381 ‐19% 2,290 ‐40% 1,443 ‐35% 785 ‐32%

26/11/10 2,170 ‐31% 3,233 ‐23% 2,330 ‐39% 1,486 ‐33% 788 ‐32%

29/11/10 2,145 ‐32% 3,095 ‐26% 2,356 ‐38% 1,512 ‐32% 792 ‐31%

30/11/10 2,099 ‐33% 2,910 ‐31% 2,377 ‐38% 1,526 ‐31% 796 ‐31%

BALTIC DRY BULK MARKET INDICES until 30th NOVEMBER 2010

All Baltic DRY indices 2005 - 2010

3002300430063008300

1030012300143001630018300

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

Nov-10

BPI

BCIBDI

BSI

BALTIC DRY 2005 - 2010

400

2400

4400

6400

8400

10400

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

Nov-10

BDI

BALTIC PMAX 2005 - 2010

300

2300

4300

6300

8300

10300

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

Nov-10

BPI

BALTIC CAPE 2005 - 2010

400290054007900

10400129001540017900

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

Nov-10

BCI

BALTIC SUPMAX 2006 - 2010

3001300230033004300530063007300

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

Nov-10

BSI

CAPITAL LINK MARITIME INDEX 2005-2010

400

1400

2400

3400

4400

5400

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

10

CL Maritime Index (CLMI)

CAPITAL LINK DRYBULK INDEX 2005-2010

400

1400

2400

3400

4400

5400

6400

7400

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

10

CL Drybulk Index (CLDBI)

CAPITAL LINK CONTAINER INDEX 2005-2010

400

1400

2400

3400

4400

5400

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

10

CL Container Index (CLCI)

CAPITAL LINK MLP INDEX 2005-2010

400

1400

2400

3400

4400

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

10

CL MLP Index (CLMLP)




DATE CLEAN % frm 2/1/10 DIRTY % frm 2/1/1029/10/10 444 ‐23% 593 ‐26%

01/11/10 442 ‐24% 588 ‐25%02/11/10 439 ‐25% 580 ‐24%03/11/10 438 ‐26% 583 ‐24%

04/11/10 436 ‐26% 588 ‐25%05/11/10 435 ‐27% 584 ‐24%

08/11/10 437 ‐27% 582 ‐24%09/11/10 437 ‐27% 593 ‐24%10/11/10 449 ‐27% 614 ‐24%

11/11/10 454 ‐25% 645 ‐24%12/11/10 457 ‐24% 655 ‐22%

15/11/10 460 ‐21% 656 ‐19%16/11/10 470 ‐21% 645 ‐19%17/11/10 480 ‐19% 643 ‐17%

18/11/10 488 ‐16% 659 ‐15%19/11/10 497 ‐14% 673 ‐14%

22/11/10 501 ‐12% 682 ‐15%23/11/10 504 ‐12% 701 ‐17%24/11/10 507 ‐12% 699 ‐18%

25/11/10 508 ‐11% 695 ‐18%26/11/10 517 ‐11% 683 ‐18%

29/11/10 519 ‐11% 679 ‐18%30/11/10 528 ‐9% 671 ‐14%

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

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

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

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

BALTIC TANKER MARKET INDICES until 30th NOVEMBER 2010

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

ALL BALTIC WET Indices 2005-2010

300

800

1300

1800

2300

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

10

BCTI

BDTI

BALTIC DIRTY TANKER INDEX 2005 - 2010

400

900

1400

1900

2400

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

Nov-10

BDTI

BALTIC CLEAN TANKER INDEX 2005 - 2010

300

700

1100

1500

1900

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

Nov-10

BCTI

Brent OIL (2001 - 2010)

162636465666768696

106116126136146

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-0

7

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

Nov-1

0

Brent Oil

ALL CAPITAL LINK WET Indices 2005-2010

400

1400

2400

3400

4400

5400

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

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

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

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

Nov-05

Feb-06

May-06

Aug-06Nov-

06Feb

-07May-

07Aug-07

Nov-07

Feb-08

May-08

Aug-08Nov-

08Feb

-09May-

09Aug-09

Nov-09

Feb-10

May-10

Aug-10Nov-

10

CL LNG/LPG Index (CLLG)

WTI SPOT PRICE (2001 - 2010)

162636465666768696

106116126136146

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-0

7

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

Nov-1

0

WTI Spot Price



S&P MONTHLY REPORT NOVEMBER 2010files.irwebpage.com/reports/shipping/GaPohY32AN... · bangladesh...

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