Friday 07 August 2015 S&P Summary

Sales by Buyers Location Sales by Type

Israel, 33.5 Japan, 24.5 Unknown, 25.5 USA, 37.1 Bulker, 131.80

Greece, 56.8

Belgium, 74

UK, 76.2 Bermuda, 662

Tanker, 858.80

Sales DRY Name Type DWT Yard Built USD mill Comments VesselsValue.com Buyer Seller Blue Cho Oyu Capesize 180,100 Daehan 2011 33.5 32.4 Mano Maritime Blue Marine Glory Max Capesize 180,000 SWS 2016 43.5 44.8 COBELFRET Gleamray Maritime Houheng 2 Capesize 179,900 Hanjin Subic 2011 30.5 32.4 COBELFRET Ningbo Henghou Industries Rondeau Panamax 77,000 Namura 2006 13.8 13.1 Omicron Ship Management Iino Marine Service Star Natalie Panamax 73,800 Sumitomo 1998 4.2 5.4 Far Eastern Star Bulk Carriers Santa Francisca Handysize 28,500 Imabari 2001 5.3 6.0 Unknown Nissho Shipping Ma Sik Ryong Small Handy 18,600 Uwajima Zosen 1987 1 At auction 1.4 Capeshore Maritime Hua Heng Shipping

WET Name Type DWT Yard Built USD mill Comments VesselsValue.com Buyer Seller Triathlon Suezmax 164,400 Hyundai Samho 2002 28 27.8 Tsakos private company TEN Princimar Faith Suezmax 160,000 Daewoo 2005 39.5 Enbloc Total USD 662m 38.3 Teekay Tankers Principal Maritime Princimar Truth Suezmax 159,200 Hyundai Samho 2007 47.5 46.0 Teekay Tankers Principal Maritime Princimar Hope Suezmax 158,600 Samsung 2011 62 60.7 Teekay Tankers Principal Maritime Princimar Integrity Suezmax 158,500 Samsung 2012 65 63.9 Teekay Tankers Principal Maritime Princimar Grace Suezmax 158,500 Samsung 2011 62 60.7 Teekay Tankers Principal Maritime Princimar Courage Suezmax 158,000 Samsung 2013 67.8 66.7 Teekay Tankers Principal Maritime Princimar Pride Suezmax 158,000 Samsung 2012 64.7 63.8 Teekay Tankers Principal Maritime Princimar Promise Suezmax 158,000 Samsung 2011 61.9 60.6 Teekay Tankers Principal Maritime Princimar Joy Suezmax 156,500 Jiangsu Rongsheng 2010 53.4 52.2 Teekay Tankers Principal Maritime Princimar Strength Suezmax 156,500 Jiangsu Rongsheng 2010 53.4 52.2 Teekay Tankers Principal Maritime Princimar Loyalty Suezmax 150,000 Universal 2006 42.4 41.4 Teekay Tankers Principal Maritime Princimar Confidence Suezmax 150,000 Universal 2006 42.4 41.4 Teekay Tankers Principal Maritime Front Glory Suezmax 149,800 Mitsui Ichihara 1995 16 DD freshly passed 13.9 Far Eastern Ship Finance International SN Azzurra LR1 72,400 Hudong 2003 20.5 19.0 Zenith/ Sophicles Zoullas Gruppo Scerni SN Federica LR1 72,300 Hudong 2003 20.5 18.9 Zenith/ Sophicles Zoullas Gruppo Scerni Delia MR 50,000 SPP 2015 35.2 34.3 Vitol DD Shipping Aquamarine II MR 50,000 SPP 2014 37.1 35.5 Scorpio Tankers Ceres Shipping Alpine Marie MR 48,000 Iwagi Zosen 2009 24.5 23.0 Japanese Fukujin Kisen Delphi MR 37,400 Hyundai Mipo 2004 15 14.7 Tsakos private company TEN

CONTAINER Name Type TEU Yard Built USD mill Comments VesselsValue.com Buyer Seller OOCL Ningbo Post Panamax 8,063 Samsung 2004 53.6 Inc charter 35.2 Global Ship Lease OOCL APL Hong Kong Post Panamax 5,928 Koyo Dock 2002 14.5 DD due Aug 2015 19.7 Aeolos Management Shoei Kisen Santa Giorgina Sub Panamax 2,054 Flender Werft 1997 7 5.3 Unknown Offen Claus-Peter Asterix Handysize 1,702 Wadan Yards MTW 2010 20.5 To be converted into a naval auxiliary vessel 13.8 Chantier Davie Capital Maritime and Trading

GAS Name Type CBM Yard Built USD mill Comments VesselsValue.com Buyer Seller Baltic Gas SP FR LPG 20,910 Hyundai HI 1994 20 17.9 Pupuk Sriwidjaja Ultragas APS 07/08/2015

Newbuildings

DRY Units Type DWT Yard Delivery USD mill Comments Buyer 2 Supramax BC 58,000 Tsuneishi Cebu 2016 27 Stove Shipping 4 Handysize BC 39,300 Jiangmen Nanyang 2017 undisclosed Sino Asia Shipping

WET Units Type DWT Yard Delivery USD mill Comments Buyer 2+1 MR 50,000 Minami Nippon 2017-18 undisclosed Asahi Tanker Co 2 Asphalt/Bitumen Tanker 9,400 RMK Shipyard 2017 undisclosed Tarbit Shipping 8 Chemical Tankers 2000-15000 Nantong Tongbao 2017 undisclosed Total price USD161m Shanghai Dingheng/Xiamen Xiangyu

Period

DRY Name Type DWT Yard Built Rate $/day Comments Charterer Period C Discovery Capesize 180,000 Hyundai HI 2010 13,750 Cargill 6 months Hong Hing Panamax 76,500 Guangzhou 2010 7,750 Unknown 6 months

WET Name Type DWT Yard Built Rate $/day Comments Charterer Period SAMCO Amazon VLCC 314,200 Hyundai Samho 2011 46,000 Total 1 year Tajimare VLCC 265,500 IHI 1996 45,000 PPPFM 2 years Jing Yu Zuo LR1 75,600 Dalian Shipbuilding 2010 20,000 Cargill 1 year TBRN ex SN Federica LR1 72,300 Hudong 2003 undisc Penfield Marine 2 years TBRN ex SN Azzurra LR1 72,400 Hudong 2003 undisc Penfield Marine 2 years

CONTAINER Name Type TEU Yard Built Rate $/day Comments Charterer Period Great Post Panamax 5,576 Koyo Dock 2004 14,750 minus 5% commission. 9 months option at USD 21000 Maersk Line 9 months Augusta Kontor Panamax 5,060 Hanjin HI 2004 15,900 Maersk Line 9 months Nordic Stralsund Panamax 3,405 Rongcheng Shenfei 2014 11,750 Hamburg Sud 1 year Odysseus Sub Panamax 2,824 Hyundai Mipo 2006 10,250 Evergreen 6 months ER Wilhelmshaven Sub Panamax 2,496 SSW Fahr 2002 11,350 Hapag Lloyd 1 year Orea Sub Panamax 2,190 Guangzhou 2015 13,000 MCC Transport 9 months Conmar Island Feedermax 801 Peters SB 2008 6,250 CMA CGM 6 months America Feeder Feedermax 584 Sedef 1997 6,250 King Ocean 6 months

GAS Name Type CBM Yard Built Rate $/month Comments Charterer Period Navigator Mariner SP FR LPG 20,902 Mitsui Ichihara 2000 880,000 PERTAMINA 3 years 07/08/2015

S & P Trends $210 Dry Sales by Type $950 $900 Wet Sales by Type $850 $180 $800 MR $750 LR 1 $700 $150 $650 Small Handy $600 Handysize Handysize $550 $120 Handysize Panamax Handymax $500 Handysize $450 Chemical Small Clean $400 MR LR 2 $90 Supramax Handymax Aframax MR $350 Suezmax Handymax Supramax Supramax Supramax Supramax $300 $60 Panamax $250 Singledecker Ultramax Capesize Handysize P Panamax $200 VLCC Chemical LR 2 Panamax Handymax $150 MR $30 Kamsarmax Supramax Suezmax Handymax Kamsarmax $100 Aframax Supramax Panamax Panamax Chemical Kamsarmax Capesize $50 Suezmax Methanol 26 June Kamsarmax Chemical VLCC MR Suezmax MR $0 Capesize Capesize $0 MR VLCC 19 June 26 June 03 July 10 July 17 July 24 July 31 July 07 Aug 19 June 26 June 03 July 10 July 17 July 24 July 31 July 07 Aug Indices

CHARTERING Baltic Dry 06/08/2015 30/07/2015 Up Down 5 Year High Date 5 Year Low Date Index 1,201 1,100 101 2,995 10/09/10 511 20/02/15 Capesize $ 18,471 14,602 3,869 46,434 26/10/10 2,644 21/08/12 Panamax $ 8,063 8,321 258 27,329 09/09/10 3,336 27/09/12 Supramax $ 9,448 9,330 118 22,392 25/08/10 5,052 20/02/15 Handysize $ 6,362 6,212 150 15,971 15/09/10 4,000 20/02/15

Baltic Wet 06/08/2015 30/07/2015 Up Down 5 Year High Date 5 Year Low Date Dirty Index 713 763 50 1,243 23/01/14 577 28/06/13 Clean Index 697 731 34 908 23/12/11 487 14/11/13

VesselsValue.com Indices 06/08/2015 30/07/2015 Up Down Bulker $/dwt 176.6 174.16 2.4 Container $/teu 5518.84 5694.11 175.3 Tanker $/dwt 312.60 312.36 0.2 LPG $/cbm 1,000.05 1,000.76 0.7

Currencies & Commodities

USD GBP EUR JPY KOR RMB 07/08/2015 1.55 1.09 124.76 1165.84 6.21 5 YR HIGH 1.70 - 20/06/2014 1.48 - 30/04/11 124.76 - 07/08/15 1203.73 - 31/08/10 6.60 - 11/03/11 5 YR LOW 1.46 - 11/04/15 1.06 - 10/04/15 75.72 - 28/10/11 1008.55 - 03/07/11 6.05 - 24/01/14

07/08/2015 31/07/2015 Up Down 5 Year High Date 5 Year Low Date Light Crude 44.97 47.63 2.66 108.8 30/08/2013 44.53 30/01/2015 Gold 1,091.70 1,080.80 10.9 1,822 19/08/2011 1,092 07/08/2015 Corn 380 385 5 823.75 10/08/2012 353 17/10/2014 Demo $/t (tanker) 325 330 5 555 10/08/2011 325 07/08/2015 Demo $/t (bulker) 300 310 10 535 03/08/2011 300 07/08/2015 FTSE 100 6,748.71 6,664.01 84.7 7,091 24/04/2015 5,041 15/08/2011 Dow Jones 17,419.75 17,745.98 326.23 18,285 22/05/2015 9,986 26/08/2010 Nikkei 225 20,724.56 20,585.24 139.32 20,724.56 07/08/2015 8,160 21/11/2011 SSEC, China 3,744.20 3,663.73 80.47 5,166 12/06/2015 1,980 26/11/2012 SEASURE SHIPPING LTD Richard Rivlin DIRECT +44 (0) 203 327 9751 MOBILE +44 (0) 7836 210 210 Sales Europe - Georgina Gavin DIRECT +44 (0) 203 327 9651 VESSELSVALUE LTD S&P +44 (0) 208 995 4375 Matthew Freeman DIRECT +44 (0) 203 327 9752 MOBILE +44 (0) 7795 416 873 Sales USA - Adrian Economakis DIRECT +44 (0) 203 327 9652 SALES TEAM +44 (0) 203 327 9650 [email protected] Tom Evans DIRECT +44 (0) 203 327 9753 MOBILE +44 (0) 7787 421 301 Sales Asia - Junko Abe DIRECT +44 (0) 203 327 9655 RESEARCH TEAM +44 (0) 203 142 6522 www.seasure.co.uk Sales UK - Paddy Stern DIRECT +44 (0) 203 327 9654 [email protected]