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CLARKSON HELLAS S&P WEEKLY BULLETIN
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S & P

Another active week for Dry S+P market;

In the Panamax segment the M/V OCEAN SHANGHAI (76.801 dwt 2006 blt Sasebo) reported sold at region US$ 19m to Greek buyers. The M/V KONYO (77,561 dwt 1999 blt Sasebo) is sold to undisclosed buyers for a reported price of region US$ 8m while the Greek controlled Panamax M/V EVRIALOS (68,407 dwt 1987 blt Namura) has been purchased for US$ 4.5m by undisclosed Chinese buyers.

On modern supramaxes it is emerging that clients of Thai Thoresen have purchased the Japanese controlled supramax M/V SIMURGH (54,881 dwt 2005 Oshima) for US$ 17m in an off-market transaction, although this is likely to be an old sale.

In the Handysize segment, the M/V NEW AMBITION (35,313 dwt 2004 blt Shikoku) has been sold to Greek buyer for US$14.35m. The woodchip carrier M/V DAISHIN MARU (38,692 dwt 1996 blt Shin Kurushima) bought by Greek buyers for US$ 3.7m.

The M/V ANGEL ISLAND (28,510 dwt 2004 blt Imabari) is sold to undisclosed buyers for region mid US$ 13m. The Korean controlled handysize M/V SB ROYAL (28,716 dwt 1996 blt Kanasashi) purchased by Chinese buyers for US$ 6.7m.

In the Tanker S+P market, the MOSK controlled VLCC M/T KAIMON II (314,014 dwt 2002 blt Mitsui Chiba) is sold to Altomare for region US$ 29.5m. The IMO II chemical tanker M/T SICHEM DEFENDER (19,999 dwt 2007 blt Fukuoka) is reported sold to undisclosed buyers for US$ 21m.

The fully stainless steel M/T RATIH (10,329 dwt 1996 blt Asakawa) is rumoured to be committed to Korean buyers at low US$ 4m.

NEWBUILDING

The momentum we have seen in the newbuilding market over the past month has been maintained this week with a notable volume of ordering across the key sectors. Having been signed early last week, it has come to light in the past few days that Berge Bulk has signed a contract with Guangzhou Longxue for two firm plus two option 250,000 DWT VLOCs. Pricing is understood to be around USD57 Mill and although delivery of the firm vessels was reported planned for 2H 2014 and the options in 2015 if declared. Just one order to report this week in the Kamsarmax sector, with Wisdom Marine Lines placing an order for two 81,600 DWT bulk carriers at Tsuneishi Zhoushan for delivery in the second half of 2015. Pricing for each of these vessels is understood to be at USD 27.77 Mill. In the smaller sizes, Smooth Shipping are understood to have placed an order for six firm 64,000 DWT Supramax at Sainty Shipbuilding in China on the basis of long term charter. Delivery of the vessels is split between 2014 and 2015, with pricing not disclosed. Additional orders to report this week for the SDARI design 38,000 DWT Handysize design with Aquavita International having contracted two firm vessels for delivery in 2015 as part of a leasing deal with the yard.

A continued focus this week on the clean tanker market with further orders for in the MR and LR2 sectors. Clients of Kyklades Maritime are understood to have placed an order for 2 firm 114,000 DWT coated product tankers at Hyundai Heavy for onward charter to Total. Both vessels are due for delivery in 2015, however pricing was unreported. Guangzhou Shipyard International (GSI) in China has increased its MR orderbook to around 20 vessels, with a contract for four firm plus four option 50,000 DWT product tankers from Trafigura. The firm vessels are planned up for delivery in 2015 with the options in 2016 if declared, pricing was again undisclosed, but understand that likely to be around USD 32/32.5 Mill. At the small end of the scale, there are two orders to report this week in the product and bunkering tanker sectors with an order from Nanjing Zhonggang Shipping for one firm and one option 5,400 DWT product tankers at Chongqing Chuandong Shipyard coming to light. Additionally, although yet to be confirmed, the same yard are understood to have also received an order for a single 7,000 DWT bunkering tanker from SK Shipping, with all the aforementioned vessels and options for delivery in 2014.

A yet unknown German owner is reported to have placed an order for four firm 12,500 DWT MPPs at Nantong Hongqiang. The 700 TEU capacity vessels will each have two 250 tonne cranes, and are priced in the region USD 18.5 Mill. Delivery of these units is planned for the first half of 2015 and the final vessel into the third quarter. Finally in the gas market, Epic Shipping was reported to have contracted two firm 5,000 cbm LPG carriers at Sasaki Zosen, with delivery understood to be in the first

half of 2014.

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