1 7

/ A/

, , , . . , , , . , ., , . 10% ( ), , , , , , .., extra . , . , - , , . , , , . 1,5 $1/, . , . , 4% 2,5% , ( ). , 2006 4,9-5,1% 4,1% 2005. ? 2007, 2,9% 3,5% 2% 2,7% , . - , , 35% BDI 12, . , Bernanke Trichet , , , , .

SALE & PURCHASE REPORT 7 10 2006 13 2006

2 7

, , . , , . , . SWS Resale 175,000 DWT (12/2006 ) Diana Shipping $ 91 . YUE SHAN 169,159 DWT (2000 Samho) $ 73,5 . 2 VENTURA 175,000 DWT (2005 SWS) $ 72 . , WELFAIR 150,108 DWT (1991 Hyundai) $ 38 . 3-5/2007 $ 25,500/ , charter free LINDA EMILIA , charter free LOWLANDS GRACE 149,518 DWT (1991 Taiwan) $ 31,65 . THALASSINI AXIA 164,796 DWT (1996 CSBC) Enesel Great Eastern $ 63- 65 . . , MINERAL OAK165,693 DWT (1996 China SB) ......$45,3 . , SILVER CLIPPER 149,320 DWT (1993 China) $ 48 .

Panamax. To PELOPIDAS 76,000 DWT (2002 Tsuneishi) $ 44 . , DE HUA HAI DE HUI HAI 74,500 DWT (2001 & 2002 Hudong) $ 33,5 . . , ALICIA 73,901 DWT (2005 China) $ 43 . Danaos Shipping $ 153 . 3X69,000 DWT & 2 45,000 DWT (1994 Japan) 144,000 DWT (1994 Korea). INCE ISTANBUL 72,891DWT (1999 Samsung) INCE MARMARA 45,654 DWT (1995 Tsuneishi) Allseas $ 69,5 , en bloc. , Supra / Handymax 15, CLIPPER ENTERPRISE 52,300 DWT (2005 Tsuneishi Cebu) $ 42 ., FANTASY II 52,050 DWT (2004 IHI) $ 40 . BULK SCORPIO 52,384 DWT (2003 Tsuneishi Cebu) $ 38 . , STIOGEO , CALEDONIAN EXPRESS 53-53,500 DWT (2006) Resale Mykonos 53,500 DWT (12/2006 Yangzhou Dayang) $ 38-38,5 . . ANNOU G.O 53,000 DWT (2006 New Century) $ 42,5 . Handysize. CLIPPER FRONTIER CLIPPER FLAMINGO 29,500 DWT (1996 & 1997 Dalian) TBS $ 45 . en bloc, ARIES FOREST OCEAN MELODY 32,835 DWT (2000 Kanda) Pacific Basin 28,5 . . , MERAK S 25,448 DWT (1980 Korea) $ 4,2 ., PYTHEAS 29,514 DWT (1981 Japan) $ 5,8 . SPIRIT OF ALPHA 25,517 DWT (1984 Imabari ) $ 6,75 . IVORY STAR 26,973 DWT (1990 Minami Nippon) $ 15,5 . , , . VLCC EQUATORIAL LION 300,349 DWT (1997 Hyundai) $ 95 ., OVERSEAS CROWN 300,482 DWT (1996 Hyundai) $93 . . SHINYO FLORENTINA 319,000 DWT (2005 Hyundai) $ 135 . EMILIE MAERSK 308,571 DWT (1999 Hyundai) $ 114 . Suezmax, Euronav 2159,000 Geden resales (2008-9 Hyundai Samho) $ 86 . . , SOMJIN 160,183 DWT (2001 Daewoo ) $74,5 . 5 SEAPRINCESS 147,834 DWT (1996 Korea) $ 68 . ASTRO CANOPUS 159,8/99 DWT (1998 Daewoo) $ 76,5 . Aframax, MARIA TSAKOS 107,181 DWT (1998 Koyo) $ 62 . Products,

3 7

, OCEAN QUEST 35,000 DWT (2000 Guangzhou), OCEAN SPIRIT 35,000 DWT (2005 Dalian) OCEAN DIGNITY 35,000 DWT (2006 Dalian) Roxana Shipping Bergshav $ 130,75 . en bloc 10 $ 13,200//. TOPLESS 47,262 DWT (1998 Onomichi) Top Tankers $ 44 . , PUMA 48,577 DWT (1988 Hyundai ) $ 18,5 ., SCOTTISH BARD 35,367 DWT (1990 Uljanik) Prime Marine $ 15 . 8 TC $ 14,800/. , Chemicals, 213,000 DWT (2006/2007 21ST Century) Blue Line $ 25,1 . .

( ) , 2004. scrap , Bangladesh, Bulkers.

BULK CARRIERS Capesize Bulkers (80.000 + Dwt)

Vessels Name Dwt YoB Yard

Main Engine Gear Ho/Ha S/S D/D Buyer Seller- RemarksPrice US$ mil.

SWS Resale 175,000 12/2006

SWS _ _ _ Diana Shipping _ 91

YUE SHAN 169,159

2000 Samho

B&W 6S70MC

22,920 BHP

_ 9 / 9

8/2009 _ Lykiardopoulo

Sincere Navigation 73,5

WELFAIR 150,108

1991 Hyundai

B&W 6S70MC

17,470 BHP

_ 9 / 9

3/2011 4/2009

Antares Ship-management

Incl. TC till 3-5 2007 at $ 25,500/day. Leadway Shipping.

38

THALASSINI AXIA

164,796 1996

CSBC

B&W 6S70MC

20,000 BHP

_ 9 / 9

_ _ Great Eastern Enesel 63-65

SILVER CLIPPER 149,320

1993 China SB

B&W 5L80MCE

16,899 BHP

_ 9 / 9

12/2007 _ S.Korean Valles Steamship 48

Panamax Bulkers (60.000-79.999 Dwt)

Vessels Name Dwt YoB Yard

Main Engine Gear Ho/Ha S/S D/D Buyer Seller-Remarks Price US$ mil.

PELOPIDAS 76,000 2002

Tsuneishi

B&W 6S60MC

11,625 BHP

_ 7 / 7

5/2007 _ Greek

Safety Management 44

W-ONE 68,788 1990

Hyundai

B&W 6S60MC

12,236 BHP

_ 7 / 7

3/2010 4/2008 Greek

Incl. TC. W Marine Inc. 21

4 7

HENZA 70,227 1988

Sanoyas

Mitsubishi 6UEC60LA

11,470

_ 7 / 7

3/2009 9/2007 Hong Kong Denak 18,75

ALPHA GEMINI 65,298 1985 NKK

Sulzer 7RTA58

10,900 BHP

_ 7 / 7

7/2010 7/2008 Unknown Alpha Tankers 12,5

Handymax Bulkers (35.000-59.999 Dwt)

Vessels Name Dwt YoB Yard

Main Engine Gear Ho/Ha S/S D/D Buyer Seller-Remarks Price US$ mil.

6XTsuneishi Resales 58,000 2008

Tsuneishi _ _ _ 2x3 buyers Kambara kisen 37 each

FANTASY II 52,050 2004 IHI

Sulzer 6RTA48T-B 11,013 BHP

4x30 Cr. 5 / 5 _ Jinhui

Enterprises Shipping 40

CLIPPER ENTERPRISE

52,483 2005

Tsuneishi Cebu

B&W 6S50MC

10,605 BHP

4x30 Cr. 5 / 5

7/2008 _ Greek Clipper Group 42

BULK SCORPIO

52,384 2003

Tsuneishi Cebu

B&W 6S50MC

10,605 BHP

4X30 Cr. 5 / 5

7/2008 _ Turkish

Asahi. TC incl. till 5/07 at $ 15,200/day.

38

ANNOU G.O 53,688 2006

New Century

B&W 6S50MC-C 12,888 BHP

4x36 Cr. 5 / 5

4/2011 4/2009 Unknown Gleamray 42,5

NIL 49,071 1982

Kasado

Mitsubishi 8UEC60/150H

13,000 BHP

5x25 Cr4. 5 / 5

2/2009 _ Undisclosed Genel 9

IDC-I 41,540 1986

Mitsui

B&W 6L60MCE 7,160 BHP

4x25 Cr. 5 / 5

5/2009 _ Turkish Nemtas 13,2

THEOTOKOS 38,858 1994 IHI

Sulzer 6RTA52

7,900 BHP

4x25 Cr. 5 / 5

7/2009 6/2007 Undisclosed Staff Centre 24,2

BONAVIS 37,531 1983 Osaka

B& W 8L55GFCA 12,000 BHP

5x25Cr. 5 / 5

8/2008 11/2006 Greek

Maritime Enterprises 8,5

Handysize Bulkers (18.000-34.999 Dwt)

Vessels Name Dwt YoB Yard

Main Engine Gear Ho/Ha S/S D/D Buyer Seller-Remarks Price US$ mil.

CLIPPER FRONTIER

4/2007 _

CLIPPER FLAMINGO

29,500 1996&1997

Dalian

B&W 5S50MC

8,701 BHP

5X30 Cr. 5 / 5 1/2010

_

TBS Clipper 45 en bloc

ARIES FOREST 9/2010 7/2008

OCEAN MELODY

32,835 2000

Kanda

Mitsubishi 6UEC50LSII 9,000 BHP

4X30 Cr. 5 / 5 4/2010

_

Pacific Basin Sandigan 28,5 each

5 7

MERAK S 25,448 1980 Korea

Sulzer 6RND68M 10,799 BHP

3X25 Cr. 4 / 4

6/2007 _ Syrian Order Shipping 4,2

PYTHEAS 29,514 1981 Japan

Sulzer 6RND68M 11,400 BHP

5x25 Cr. 6 / 6

9/2007 _ Indian Seastar 5,8

SPIRIT OF ALPHA 25,517 1984

Imabari

B&W 5L50MC

7,000 BHP

3X30C&1X25D 4 / 4

_ _ Undisclosed

Ocean Ship-management 6,75

IVORY STAR

26,973 1990

Minami Nippon

Mitsubishi 6UEC52LA 7,170 BHP

4X30 Cr. 5 / 5

2/2010 12/2007 Chilean Grecomar 15,5

Small Bulkers (19.999 - Dwt)

Vessels Name Dwt YoB Yard

Main Engine Gear Ho/Ha S/S D/D Buyer Seller-Remarks Price US$ mil.

JOINT GRACE 11,274 1982 Japan

Mitsubishi 6UEC45/115H

6,077 BHP

4X15 Der. 3 / 3

11/2007 9/2007 Vietnam Daeyang Shipping 3,1

FRENCH BAY 6,196 1975 Japan

Hanshin 6LU50A

3,800 BHP

4X15 Der. 2 / 2

1/2007 1/2007 Syrian Patella 1,22

STEPHEN J. 4,635 1995

Portugal

Mak 9M453C

4,486 BHP

2x40 Cr. 2 / 2

3/2010 _ Norwegian Jungerhans 8,8

Package Deals

Vessels Name Dwt YoB Yard

Main Engine Gear Ho/Ha S/S D/D Buyer Seller-Remarks Price US$ mil.

INCE ISTANBUL 72,891 1999

Samsung

B&W 6S50MC

11,801 BHP

_ 7 / 7

2/2009 10/2006

INCE MARMARA 45,654 1995

Tsuneishi

B&W 6S50MC

11,640 BHP 4X30 Cr.

5 / 5

4/2010 2/2008

Allseas Ince Turkey 69,5

en bloc

TANKERS Very Large Crude Carriers (200.000-349.999 Dwt)

Vessels Name Dwt YoB Yard

Main Engine Coil. / Coat. Tanks S/S D/D Buyer Seller-Remarks

Price US$

EQUATORIAL LION

300,349 1997

Hyundai

1/2007 _

OVERSEAS CROWN

300,482 1996

Hyundai

B&W 7S80MC

33,264 BHP

_ / _ 15

_ _

Unknown OSG 93 each

SHINYO FLORENTINA

319,000 2005

Hyundai

B&W 6S90MC-C 39,900 BHP

_ / _ _

7/2008 _ Lykiardopoulo Univan 135

6 7

Suezmax Tankers (115.000-199.999 Dwt)

Vessels Name Dwt YoB Yard

Main Engine Coil. / Coat. Tanks S/S D/D Buyer Seller-Remarks

Price US$

2x159,000 dwt Geden Resales

159,000 2008/9

Hyundai _ _ _ Euronav Geden 86 each

SEAPRINCESS 147,834

1996 Samsung

B&W 6S70MC

20,940 BHP[

_ / _ 12

_ _ Great Eastern Thenamaris 68

ASTRO CANOPUS

159,899 1998 Daewoo

B&W 6S70MC-C 25,320 BHP

_ / _ 12

1/2009 _ First Olsen Kristen 76,5

Aframax Tankers (80.000-114.999 Dwt)

Vessels Name Dwt YoB Yard

Main Engine Coil. / Coat. Tanks S/S D/D Buyer Seller-Remarks

Price US$

MARIA TSAKOS 107,181

1998 Koyo

B&W 7S60MC

15,170 BHP

_ / _ 14

7/2008 _ Undisclosed Tsakos Shipping 62

Product Tankers ( -48.000 Dwt) / Specialized tankers

Vessels Name Dwt YoB Yard

Main Engine Coil. / Coat. Tanks S/S D/D Buyer Seller-Remarks

Price US$

OCEAN QUEST 35,000 2000

Guangzhou

Coiled / - 10

_ _

OCEAN SPIRIT

OCEAN DIGNITY

35,000 2005/6 Dalian

B&W 5S50MC

9,720 BHP _ / _ 12

_ _

Bergshav Roxana Shipping. 10 years BBB Incl. at $ 13,250 / day .

130,75 en bloc

TOPLESS 47,262 1998

Onomichi

B&W 6S50MC

11,640 BHP

_ / _ 14

1/2009 _ Undisclosed Top Tankers 44

PUMA 48,577 1988

Hyundai

B&W 4L80MCE

17,403 BHP

_ / _ 7

5/2008 5/2008 Greek

Chemtanker. Prime Marine 18,5

SCOTTISH BARD

35,367 1990

Uljanik

B&W 5L60MCE 9,450 BHP

_ / Epoxy 21

_ _ Prime Marine

ASP. Incl. 8 months TC at $ 14,800 / day. 15

2X13,000 DWT Chemtankers Resale

13,000 2006/2007

21st Century _ _ _ Chinese Blue Line 25,1 each

TARNFJORD 19,990 1984

Kaldness

Mak 6M601AK 7,165 BHP

_ / _ 16

1/2009 _ NITC

IMO II. Bare Boat Hire Purchase. Jacobsen

16

7 7

Vessel Name Type DWT YoB Ldt Yard Buyer Seller-Remarks Price $/Ldt

PREM GOPALI Tanker 87,656 1983 _ Ishibras BangladeshAs is Haldia. Mercator Lines 395

ALLIUM Tanker 69,118 1980 _ NKK Bangladesh Aegean Shipping 415

ANTONIO GRAMSI Tanker 39,870 1978 _ 3 May BangladeshLSC Shipmanagement 400

IRVING CANADA Tanker 37,575 1981 _ Canada BangladeshAs is EC Canada. Kent Line 325

LONG HAI BC 72,746 1977 _ Tsuneishi India Fujian 347,5

SOUTH CROSS Cont. 16,270 1974 4,822 Germany Bangladesh Marachart 380

SVYATOY GEORGIY BC 29,831 1976 7,405 Kanda Bangladesh Adriatico 358

II

Finance & Research Department

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