WEEKLY SHIPPING MARKET REPORT WEEK 45 Week 45 (30th Oct to 6th Nov 2020) Bulkers Baltic Indices Defender Holding have sold their Capesize “True Dream” 181/2014 Bulkers Tsuneishi Cebu, Philippines (SS/DD 04/2022) for USD 27 mill. Remind you 5.000 that a month ago, the two years older sister vessel “Huge Hakata” 181/2012 4.000 Tsuneishi Cebu, Philippines (SS 09/2021, DD 05/2021) was sold at USD 23 mill. Moreover, Noble Group committed their “Aqua Vision” 180/2011 3.000 Dalian, China (SS/DD 09/2021) to Greek buyers Lavinia for region USD 15,75 2.000 mill, while CSSC Shipping’s “CSSC Wan Mei” 176/2012 SWS, China (SS/DD 11/2022) was committed to Berge Bulk for USD 18,3 mill. 1.000 0 The BWTS fitted Kamsarmax “Mild Sea” 82/2013 Qingdao Beihai, China (SS 01/2023, DD 12/2020) was committed to undisclosed buyers for USD 14 mill, with last similar sale the two years younger “SBI Conga” 81/2015 B.D.I B.C.I B.P.I. B.S.I. B.H.S.I. Hudong-Zhonghua, China which was sold a month ago at USD 18,4 mill basis SS/DD passed and BWTS fitted. In addition, MC Shipping’s “Gemini Ocean” 81/2017 JMU, Japan (SS/DD 02/2022) was sold for region USD 25 mill. Last INDEX 6-Nov 30-Oct ± (%) done for the latter was a month ago, the one year younger sister vessel “BTG BDI 1.196 1.283 -6,78% Eiger” 81/2016 JMU, Japan (SS/DD 01/2021) at USD 23,5 mill. BCI 1.739 1.875 -7,25% Further to the sale reported last week of “Nautical Georgia” 63/2017 Jiangsu BPI 1.190 1.289 -7,68% New Hantong, China (SS/DD 07/2022) at USD 17 mill, Nautical Bulk Holding BSI 901 949 -5,06% apparently sold another ship aswell to Oman Shipping, the one year younger BHSI 583 591 -1,35% sister vessel “Nautical Madison” 63/2018 Jiangsu New Hantong, China (SS 02/2023, DD 02/2021) for USD 18,5 mill basis BTWS & Scrubber installed. Daily T/C Avg 6-Nov 30-Oct ± (%) Santoku Senpaku have sold their Supramax “Shinano” 57/2008 IHI Marine United, Japan (SS 04/2024, DD 05/2023) to undisclosed buyers for USD 8,9 Capesize $ 14.421 $ 15.550 -7,26% mill, while Alma Maritime sold the BWTS fitted “Neraida” 55/2005 Oshima, Kamsarmax $ 10.711 $ 11.604 -7,70% Japan (SS 01/2025, DD 04/2023) to Turkish buyers for USD 7,8 mill. Panamax $ 9.375 $ 10.268 -8,70% A busy week in the Handysize sector with several Japanese built vessels Supramax $ 9.914 $ 10.438 -5,02% being sold. The BWTS fitted “Indigo Imabari” 38/2010 Imabari, Japan (SS Handysize 38 $ 10.490 $ 10.647 -1,47% 09/2024, DD 09/2022) was sold to European buyers in a BBHP deal for USD 10,6 mill, whilst AEC’s “AEC Ability II” 37/2006 Saiki, Japan (SS/DD 03/2021) achieved USD 6,6 mill. Furthermore, the “Star Aqua” 28/2011 Imabari, Japan (SS/DD 02/2021) was committed at USD 6,4 mill to Middle Eastern Tankers buyers, while the two years younger sister vessel “Glorious Sunlight” 1.600 28/2013 Imabari, Japan (SS 07/2023, DD 07/2021) was committed at USD 7,2 mill to Greek buyers. 1.200 800 Tankers 400 0 Onassis Group sold two of their VLCC’s, the “Olympic Legend” 309/2003 Samsung, Korea (SS 09/2023, DD 11/2021) to Chinese buyers for USD 26 mill and the “Olympic Loyalty II” 307/2005 Samsung, Korea (SS 03/2025, DD BDTI BCTI 09/2023) to Greek buyers for USD 32,7 mill. Note that same owners sold a couple of weeks ago the “Olympic Liberty” 309/2003 Samsung, Korea (SS 02/2023, DD 07/2021) for USD 25,8 mill. INDEX 6-Nov 30-Oct ± (%) BDTI 403 411 -1,95% The BWTS fitted MR “Glafkos” 50/2013 Stx, Korea (SS 05/2023, DD 06/2021) of Pleiades Shipping was reported sold to Spanish buyers Marflet Marine for BCTI 309 312 -0,96% USD 22,7-23 mill. WEEKLY SHIPPING MARKET REPORT - pg. 1 DRY BULK COMMENTARY Week 45 (30th Oct to 6th Nov 2020) Capesize Capesize 35.000 Week 45 saw iron ore rates on the West Australia / China route continued 30.000 at the level of high usd 6,00’s fio range. No period activity to report here. 25.000 20.000 15.000 $/day 10.000 Kamsarmax / Panamax 5.000 0 A number of Indonesian and Australian trips into China were reported fixed in the usd 9,000/10,000 pd range. A number of Indonesian and Australian trips into India were reported at the level of usd 9,000/10,000 pd. Indian trips into China via Black Sea were fixed around usd 11,000/12,000 pd. Indian trips via South Africa into India were reported at the level of usd 8,000 pd. West African trips via West Africa into Continent with bauxite were fixed Panamax around usd 11,750 pd. Inter-Continental trips via Baltic were reported at the 16.000 level of usd 13,000/14,000 pd. Continental trips via Baltic into West Africa were fixed around usd 14,000 pd. Inter-Mediterranean via Baltic were 12.000 reported at the level of usd 11,000 pd. US Gulf trips into China were fixed 8.000 around usd 15,350 pd plus ballast bonus at the usd 535K. South American trips into China were reported at the level of usd 13,300 pd plus ballast $/day 4.000 bonus at the usd 330K. No period activity to report here. 0 Ultramax / Supramax A number of Indonesian and Australian trips into China were reported fixed in the usd 8,000/10,000 pd range. Continental trips via Baltic into Supramax Mediterranean with scrap were reported at the level of usd 18,000 pd. US 12.000 Gulf trips into Mediterranean with petcoke were fixed around usd 15,000 10.000 pd. No period activity to report here. 8.000 6.000 Handymax / Handysize $/day 4.000 2.000 0 A number of Red Sea trips into India via Black Sea were reported fixed in the usd 11,000 pd. Continental trips into West Africa were reported at the level of usd 22,000 pd. Mediterranean trips into Continent were fixed around usd 11,500 pd. Black Sea trips into South East Asia with soda ash were reported at the level of usd 15,700 pd. No period activity to report here. Handysize 38k 12.000 10.000 8.000 6.000 day $/ 4.000 2.000 0 WEEKLY SHIPPING MARKET REPORT - pg. 2 REPORTED SALES Week 45 (30th Oct to 6th Nov 2020) Bulk Carriers Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments Olympic BWTS fitted, Capesize 182.644 2016 JMU, Japan 04/2021 MAN-B&W - Harmony $ 38m Scrubber fitted Undisclosed Olympic each BWTS fitted, Capesize 182.631 2016 JMU, Japan 02/2021 MAN-B&W - Hope Scrubber fitted Tsuneishi Capesize True Dream 180.694 2014 Cebu, 04/2022 MAN-B&W - $ 27m Undisclosed Philippines Region Greek Capesize Aqua Vision 180.353 2011 Dalian, China 09/2021 MAN-B&W - $ 15,75m (Lavinia) Tiger Qingdao Capesize 180.099 2011 01/2021 MAN-B&W - Guangdong Beihai, China Qingdao Capesize Tiger Jiangsu 180.096 2010 10/2020 MAN-B&W - Beihai, China $ 64m Greek On subs Tiger Qingdao enbloc (Thenamaris) Capesize 180.091 2011 05/2021 MAN-B&W - Shandong Beihai, China Qingdao Capesize Tiger Liaoning 180.082 2011 09/2021 MAN-B&W - Beihai, China Namura & Greek BWTS fitted, Capesize King Ore 176.944 2010 Sasebo, 07/2022 MAN-B&W - $ 19,2m (Golden Scrubber fitted Japan Union) CSSC Wan Singaporean Capesize 176.460 2012 SWS, China 11/2022 MAN-B&W - $ 18,3m Mei (Berge Bulk) Tsuneishi Pacific Region Kamsarmax 82.177 2011 Zhoushan, 11/2021 MAN-B&W - Undisclosed BWTS fitted Kindness $ 15m China Qingdao BWTS fitted, Kamsarmax Mild Sea 81.684 2013 01/2023 Wartsila - $ 14m Undisclosed Beihai, China DD 12/2020 Gemini Region Kamsarmax 80.982 2017 JMU, Japan 02/2022 MAN-B&W - Undisclosed Ocean $ 25m Guangzhou Panamax Dewi Parwati 75.700 2011 Huangpu, 05/2021 MAN-B&W - $ 9,4m Chinese China Hitachi Panamax Seaeagle 71.663 1998 01/2023 B&W - $ 4,1m Chinese Zosen, Japan Jiangsu Omani BWTS fitted, Nautical Ultramax 63.372 2018 Hantong, 02/2023 MAN-B&W 4x30T $ 18,5m (Oman Scrubber fitted, Madison China Shipping) DD 02/2021 IHI Marine Supramax Shinano 56.676 2008 04/2025 Wartsila 4x30T $ 8,9m Undisclosed United, Japan Oshima, Supramax Neraida 55.567 2005 01/2025 B&W 4x30T $ 7,8m Turkish BWTS fitted Japan Yangzhou Supramax Genco Loire 53.100 2009 Dayang, 03/2024 MAN-B&W 4x35T $ 7,7m Undisclosed BWTS fitted China Oshima, Supramax V Petrel 52.307 2004 07/2024 Mitsubishi 4x30T $ 6,5m Chinese Japan Oshima, Handymax Rubyred 48.225 1997 08/2022 Mitsubishi 4x25T $ 3,3m Undisclosed Japan WEEKLY SHIPPING MARKET REPORT - pg. 3 REPORTED SALES Week 45 (30th Oct to 6th Nov 2020) Bulk Carriers (Continued) Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments Indigo Imabari, BWTS fitted, Handysize 38.271 2010 09/2024 MAN-B&W 4x30,5T $ 10,6m European Imabari Japan BBHP deal Jiangsu Handysize Rook 37.852 2010 Eastern, 09/2020 Wartsila 4x30T $ 6m Danish China Handysize AEC Ability II 37.504 2006 Saiki, Japan 03/2021 Mitsubishi 4x36T $ 6,6m Undisclosed Rainbow Shanhaiguan, Handysize 34.627 2011 06/2021 MAN-B&W 4x30T $ 7m Undisclosed Quest China Hakodate, Handysize Baltic Hare 31.887 2009 07/2024 Mitsubishi 4x30T $ 7,7m Undisclosed BWTS fitted Japan Shimanami Handysize Fair Winds 28.434 2009 09/2024 MAN-B&W 4x30,5T $ 6,5m Greek Zosen, Japan Imabari, Handysize Thetis 28.432 2004 07/2024 B&W 4x30,5T $ 4,9m Vietnamese Japan Imabari, Middle Handysize Star Aqua 28.225 2011 02/2021 MAN-B&W 4x30,5T $ 6,4m Japan Eastern Glorious Imabari, Handysize 28.202 2013 07/2023 MAN-B&W 4x30,5T $ 7,2m Greek Sunlight Japan Stellar Kurinoura, UAE Handysize 23.186 2011 04/2021 MAN-B&W 3x30T $ 6,8m Hudson Japan (ADNOC) Tankers Type Name Dwt YoB Yard SS M/E Price Buyer Comments Olympic VLCC 309.270 2003 Samsung, Korea 09/2023 B&W $ 26m Chinese Legend Olympic MAN- VLCC 306.999 2005 Samsung, Korea 03/2025 $ 32,7m Greek Loyalty II B&W MAN- Greek (Delta VLCC Trf Horten 297.638 2018 HHIC, Philippines 10/2023 $ 71-72m B&W Tankers) MAN- Suezmax Bonny 159.152 2005 Hyundai, Korea Overdue $ 19m Undisclosed B&W Delos Namura & Sasebo, MAN- Middle Aframax 105.850 2003 01/2023 $ 12,5m Voyager Japan B&W Eastern MAN- Aframax Bergina 105.839 2007 Tsuneishi, Japan 08/2022 $ 17,2m Vietnamese B&W Spanish MAN- MR Glafkos 49.997 2013 Stx, Korea 05/2023 $ 22,7-23m (Marflet BWTS fitted B&W Marine) WEEKLY SHIPPING MARKET REPORT - pg.