WEEKLY S&P MARKET REPORT

Week Ending: April 09th 2021 (Week 14 Report No: 14.21)

(Given in good faith but without guarantee)

This Report/Analysis is distributed for the primary use of GOLDEN DESTINY’S subscribers and should not be redistributed to any third parties without the written
consent of GOLDEN DESTINY. An extraction of market information from GOLDEN DESTINY’S Reports/Analysis is allowed only when GOLDEN DESTINY is
mentioned as a source.

WEEKLY S&P ACTIVITY

VESSELTYPE SECOND HAND DEMOLITION TOTAL %w-o-w
Units ($) Invested Capital Units in DWT Units SH DEMO
Bulkcarriers 15 214,250,000 0 0 15 0%
Tankers 12 132,300,000 3 119,222 15 50% -57%
Gas Tankers 0 0 0 0 0 -100%
General Cargo 0 0 0 0 0
Containers 2 13,000,000 0 0 2 -75%
Reefers 0 0 0 0 0
Passenger / Cruise 0 0 0 0 0
Ro - Ro 0 0 1 1,118 1
Car Carrier 0 0 0 0 0
Combined 0 0 0 0 0
Special Projects 0 0 0 0 0
TTL VSLS/Demo 29 359,550,000 4 120,340 33 -12% -43%
5 S&P deal(s) reported at an undisclosed price

WEEKLY NEWBUILDING ACTIVITY

Vessel Type Units in DWT Invested Capital P&C %w-o-w

Bulkcarriers 2 360,000 100,000,000 0 -50%
Tankers 5 630,000 169,000,000 1 25%
Gas Tankers 3 133,000 220,000,000 1
General Cargo 0 0 0 0
Containers 15 1,032,000 1,008,000,000 0 -64%
Reefers 0 0 0 0
Passenger / Cruise 0 0 0 0
Ro-Ro 0 0 0 0
Car Carrier 0 0 0 0
Combined 0 0 0 0
Special Projects 0 0 0 0
TOTAL 25 2,155,000 1,497,000,000 2 -50%

 The estimated invested capital does not include deals reported at an undisclosed secondhand sale or newbuilding price.
 P&C: deals reported as private and confidential with no disclosed details for the secondhand sale or newbuilding price.
RESEARCH & VALUATION snv@goldendestiny.com

BULK CARRIERS US$/Dwt

CAPE RAY 177,853 DWT BLT 07 CHR 9 HO HA MAN-B&W 22,923 BHP
SOLD FOR ABT US $16 MIL TO UNDISCLOSED BYRS. T/C ATTACHED UNITL 10/2021 89.96

SIBERIAN EXPRESS 92,974 DWT BLT 12 CHR 7 HO HA MAN-B&W 16,642 BHP

SOLD FOR ABT US $14 MIL TO UNDISCLOSED BYRS 150.58

GH HARMONY 92,500 DWT BLT 10 CHR 7 HO HA MAN-B&W 16,642 BHP

SOLD FOR ABT US $13 MIL TO UNDISCLOSED BYRS 140.54

OCEANIC 82,471 DWT BLT 07 JPN 7 HO HA MAN-B&W 14,956 BHP

SOLD FOR ABT US $16 MIL TO UNDISCLOSED BYRS 194.01

XI JIANG YUE 74,940 DWT BLT 11 JPN 7 HO HA MAN-B&W 12,549 BHP

SOLD FOR ABT US $18.5 MIL TO GREEK BYRS 246.86

2 x PENGLAI ZHONGBAI JINGLU RESALES 63.500 DWT BLT 21 CHR 5 HO HA CR 4 x 30 T

SOLD FOR ABT US $27 MIL TO UNDISCLOSED BYRS 425.20

MELATI LAUT 56,643 DWT BLT 11 CHR 5 HO HA CR 4 x 30 T MAN-B&W 12,889 BHP

SOLD FOR ABT US $13 MIL TO CHINESE BYRS 229.51

GOLDEN ROSE 56,628 DWT BLT 11 CHR 5 HO HA CR 4 x 30 T MAN-B&W 12,889 BHP

SOLD FOR ABT US $13 MIL TO CHINESE BYRS. SS/DD DUE 9/2021 229.57

NORD EMPEROR 55,692 DWT BLT 10 JPN 5 HO HA CR 4 x 30 T MAN-B&W 12,889 BHP

SOLD FOR ABT US $14.5 MIL TO MONACO BASED BYRS 260.36

V FULMAR 52,307 DWT BLT 04 JPN 5 HO HA CR 4 x 30 T MITSUBISHI 10,939 BHP

SOLD FOR ABT US $9.25 MIL TO FAR EASTERN BYRS 176.84

RIGHT HERO 51,725 DWT BLT 09 JPN 5 HO HA CR 4 x 30 T MITSUBISHI 10,939 BHP

SOLD FOR ABT US $11 MIL TO UNDISCLOSED BYRS 212.66

LILY OLDENDORFF 37,913 DWT BLT 17 CHR 5 HO HA CR 4 x 35 T MAN-B&W 8,226 BHP

SOLD FOR AN UNDISCLOSED PRICE TO UAE BASED BYRS N/A

NAVIOS SERENITY 34,690 DWT BLT 11 KRS 5 HO HA CR 4 x 35 T MAN-B&W 10,741 BHP

SOLD FOR ABT US $10.5 MIL TO GREEK BYRS. SS DUE 07/2021 302.68

VASILIS 32,081 DWT BLT 11 JPN 5 HO HA CR 4 x 30 T MITSUBISHI 10,156 BHP

SOLD FOR ABT US $11.5 MIL TO GREEK BYRS.SS/DD DUE 07/2021 358.47

57 AKTI MIAOULI 18536, PIRAEUS GREECE TEL: +30 210 4295000

EMAIL: snv@goldendestiny.com WEBSITE: www.goldendestiny.com
RESEARCH & VALUATION snv@goldendestiny.com

TANKERS US$/Dwt
INDIGO NOVA 309,985 DWT BLT 07 JPN DH 15 TNKS OIL CAP. 337,222 CBM MAN-B&W 34,643 BHP
SOLD FOR AN UNDISCLOSED PRICE TO UNDISCLOSED BYRS.OLD SALE N/A

UMLMA 106,094 DWT BLT 06 KRS DH 12 TNKS COATED - COILED OIL CAP. 115,535 CBM MAN-B&W 18,420 BHP
SOLD FOR ABT US $15 MIL TO GREEK BYRS. SS/DD DUE. ICE 1A 141.38

SULU SEA 105,522 DWT BLT 05 JPN DH 12 TNKS COILED OIL CAP. 115,572 CBM WARTSILA 16,315 BHP
SOLD FOR ABT US $14 MIL TO HONG KONG BASED BYRS 132.67

HAFNIA EUROPE 74,997 DWT BLT 06 JPN DH 14 TNKS COATED - COILED OIL CAP. 82,075 CBM MITSUBISHI 16,680 BHP
SOLD FOR ABT US $11.3 MIL TO UNDISCLOSED BYRS.SS/DD DUE 08/2021 150.67

DL ROSE 49,997 DWT BLT 07 KRS DH 12 TNKS COATED - COILED OIL CAP. 52,151 CBM WARTSILA 12,896 BHP
DL COSMOS 49,995 DWT BLT 07 KRS DH 12 TNKS COATED - COILED OIL CAP. 52,147 CBM WARTSILA 12,896 BHP

SOLD ENBLOC FOR ABT US $11.00 MIL EACH TO UNDISCLOSED BYRS 220.02

HERMITAGE BRIDGE 47,880 DWT BLT 03 KRS DH 12 TNKS COATED OIL CAP. 49,553 CBM B&W 15,037 BHP
SOLD FOR AN UNDISCLOSED PRICE TO UNDISCLOSED BYRS N/A

EVER GRANDEUR 45,727 DWT BLT 04 JPN DH 12 TNKS COATED - COILED OIL CAP. 53,068 CBM B&W 11,665 BHP
SOLD FOR ABT US $8.2 MIL TO FAR EASTERN BYRS 179.33

NAVIG8 UNIVERSE 45,313 DWT BLT 13 KRS DH 20 TNKS COATED OIL CAP. 50,813 CBM MAN-B&W 13,542 BHP
SOLD FOR ABT US $18.8 MIL TO DANISH BYRS. DECLARATION OF PURCHASE OPTION 414.89

1 x HYUNDAI VINASHIN RESALE 40,000 DWT BLT 22 VIET DH 12 TNKS COATED - COILED OIL CAP. 43,000 CBM
SOLD FOR ABT US $33 MIL TO UNDISCLOSED BYRS 825.00

KRISJANIS VALDEMARS 37,258 DWT BLT 07 KRS DH 12 TNKS COATED - COILED OIL CAP. 41,318 CBM MAN-B&W 12,900 BHP
SOLD FOR ABT US $10 MIL TO GREEK BYRS. 268.40

CHEMBULK YOKOHAMA 21,181 DWT BLT 03 JPN DH 20 TNKS COATED - COILED OIL CAP. 21,012 CBM MAN-B&W 8,362 BHP
SOLD FOR AN UNDISCLOSED PRICE TO VIETNAMESE BYRS.STST. N/A

CONTAINERS US$/Teu
UNI FLORIDA 42,950 DWT BLT 07 KRS 3,450 TEU MAN-B&W 43,494 BHP
SOLD FOR AN UNDISCLOSED PRICE TO UAE BYRS N/A

A KIBO 21,937 DWT BLT 08 JPN 1,708 TEU MAN-B&W 21,509 BHP
SOLD FOR ABT US $13 MIL TO UNDISCLOSED BYRS 7,611

57 AKTI MIAOULI 18536, PIRAEUS GREECE TEL: +30 210 4295000

EMAIL: snv@goldendestiny.com WEBSITE: www.goldendestiny.com
RESEARCH & VALUATION snv@goldendestiny.com

NEWBUILDING MARKET ORDERS

BULK CARRIERS
Units Dwt Contractor Country Builder Country Dely Price($)/unit
2 180,000 Ocean Longevity HK Namura JPN 2023 $50 mil

TANKERS
Units Dwt Contractor Country Builder Country Dely Price($)/unit
1 300,000 Samos Steamship GR JMU JPN 2023 N/A

1 115,000 Pleaides GR Daehan SKR 2022 $48 mil

Option declared. Now total three on order at this yard

1 115,000 Chandris GR Daehan SKR 2022 $50 mil
LR2.Option declared. Now total two on order at this yard.

2 50,000 Socatra FR Hyundai Mipo SKR 2022 $36.5 mil

Options declared.Now total four on order at this yard

CONTAINERS
Units Dwt Contractor Country Builder Country Dely Price($)/unit
6 4 130,000 Cosco Shipping Lines PRC Undislosed PRC - $120 mil
13,000 TEU.Scrubber fitted
3 +2 32,000 Sea Consortium SPORE Zhoushan Changhong PRC 2023 $34 mil
3,100 TEU
6 26,000 Ruiyang Shipping PRC Zhoushan Changhong PRC 2024 $31 mil
2,500 TEU

GAS TANKERS-LPG
Units Dwt Contractor Country Builder Country Dely Price($)/unit
2 54,000 Eastern Pacific SPORE HHI SKR 2023 $110 mil
98,000 cbm. VLEC.Dual Fuelled. Against TC
1 25,000 E.A Temile & Sons NIG HMD SKR 2023 N/A
23,000 cbm

57 AKTI MIAOULI 18536, PIRAEUS GREECE TEL: +30 210 4295000

EMAIL: snv@goldendestiny.com WEBSITE: www.goldendestiny.com
RESEARCH & VALUATION snv@goldendestiny.com

DEMOLITION MARKET

WEEKLY DEMOLITION ACTIVITY PER VESSEL TYPE

VESSEL TYPE WEEK 14-2021 WEEK 13-2021 DEMOLITION ACTIVITY

%w-o-w
Units in DWT Units in DWT in No. of Units
Bulkcarriers 0 0 0 0
Tankers 3 119,222 7 776,218 -57%
Gas Tankers 0 0 0 0
General Cargo 0 0 0 0
Containers 0 0 0 0
Reefers 0 0 0 0
Passenger / Cruise 0 0 0 0
Ro-Ro 1 1,118 0 0
Car Carrier 0 0 0 0
Combined 0 0 0 0
Special Projects 0 0 0 0
TOTAL 4 120,340 7 776,218 -43%

WEEKLY DEMOLITION ACTIVITY PER DEMO COUNTRY

DEMO COUNTRY WEEK 14-2021 WEEK 13-2021 DEMOLITION ACTIVITY

%w-o-w
Units in DWT Units in DWT in No. of Units
Bangladesh 0 0 2 345,699 -100%
India 2 11,447 1 13,843 100%
Pakistan 0 0 0 0
China 0 0 0 0
Turkey 0 0 0 0
Unknown 2 108,893 4 416,676 -50%
TOTAL 4 120,340 7 776,218 -43%

57 AKTI MIAOULI 18536, PIRAEUS GREECE TEL: +30 210 4295000

EMAIL: snv@goldendestiny.com WEBSITE: www.goldendestiny.com
RESEARCH & VALUATION snv@goldendestiny.com

TONNAGE SOLD FOR DEMOLITION

Price Scrap Price Demo
Name Dwt Built Country LDT
($) $/ldt Country
TANKERS
SC OCEAN LI 105,501 1999 KOREA, SOUTH 17,124 8,305,140 485 N/A
AS IS BATAM
ELEGANT 10,329 1996 JAPAN 3,292 2,123,340 645 INDIA
AS IS KHOR FAKKAN.STST
ANGEL 201 3,392 1993 JAPAN 1,238 266,170 215 N/A
DELY ECUADOR

RO-RO
RAHAL 1,118 1972 GERMANY 3,232 1,405,920 435 INDIA

Note: The reported demolition sales might not reflect the current demolition market

57 AKTI MIAOULI 18536, PIRAEUS GREECE TEL: +30 210 4295000

EMAIL: snv@goldendestiny.com WEBSITE: www.goldendestiny.com
RESEARCH & VALUATION snv@goldendestiny.com

SHIPPING & FINANCIAL INDICES

SHIPPING NEWS
previous FRI MON TUES WED THUR actual change % weekly actual change % change Week 14
week 2/4/2021 5/4/2021 6/4/2021 7/4/2021 8/4/2021 of the week change since 4/1/2021 since 4/1/2021 9/4/2020
DRY INDICES
BDI 2,072 - - 2,092 2,127 2,088 16 0.77% 714 51.97% 635
Handy 1,137 - - 1,110 1,090 1,068 -69 -6.07% 399 59.64% 306
BHSI TC AVERAGE 20,461 - - 19,987 19,613 19,227 -1,234 -6.03% 7,187 59.69% 5,509
Supramax 1,840 - - 1,809 1,792 1,786 -54 -2.93% 758 73.74% 441
BSI 58 TC AVERAGE 20,241 - - 19,904 19,714 19,645 -596 -2.94% 8,340 73.77% 4,852
Kamsarmax 2,484 - - 2,431 2,358 2,160 -324 -13.04% 796 58.36% 813
BPI 82k TC AVERAGE 22,354 - - 21,880 21,218 19,444 -2,910 -13.02% 7,172 58.44% 5,979
Capesize 2,394 - - 2,528 2,709 2,758 364 15.20% 750 37.35% 541
BCI TC AVERAGE 19,853 - - 20,962 22,468 22,874 3,021 15.22% 6,218 37.33% 6,762
WET INDICES
BCTI 624 - - 602 582 579 -45 -7.21% 145 33.41% 816
BDTI 699 - - 685 675 658 -41 -5.87% 115 21.18% 1,114
CURRENCY EXCHANGE
previous FRI MON TUES WED THUR for the
% change
week 2/4/2021 5/4/2021 6/4/2021 7/4/2021 8/4/2021 week
Y/$ 110.6150 110.6901 110.0813 109.8310 109.6843 109.2744 -1.3406 -1.21% Japanese Yen
$/GBP 1.3824 1.3822 1.3906 1.3850 1.3754 1.3739 -0.0085 -0.62% Pound Sterling
INR/$ 73.3201 73.3777 73.1382 73.5038 74.3640 74.5725 1.2524 1.71% Indian Rupee
$/Euro 1.1772 1.1760 1.1810 1.1853 1.1889 1.1904 0.0133 1.13% Euro
COMMODITIES BRENT-WTI
previous FRI MON TUES WED THUR for the
% change
week 2/4/2021 5/4/2021 6/4/2021 7/4/2021 8/4/2021 week
$ / US Bbl 64.68 64.68 62.15 62.74 63.16 63.20 -1.48 -2.29% BRENT
$ / US Bbl 61.45 61.45 58.65 59.33 59.43 59.50 -1.95 -3.17% WTI
BALTIC EXCHANGE SALE & PURCHASE ASSESSMENTS 01/04/2021
Shipping Markets Vessel Type Description Size (MT) Price (in $m) Change(in $m)
VLCC 5 years old 305,000 66.044 0.089
SUEZMAX 5 years old 158,000 44.217 0.155
TANKER AFRAMAX 5 years old 115,000 35.264 0.386
MR PRODUCT TANKER 5 years old 51,000 26.657 0.346
CAPESIZE 5 years old 180,000 37.169 0.946
DRY BULK KAMSARMAX 5 years old 82,500 26.812 0.878
SUPRAMAX 5 years old 58,328 19.414 0.625
HANDYSIZE 5 years old 38,200 18.211 0.780

Disclaimer:

All the information contained in this report is given in good faith, but without any guarantee from our part, and is based on our
Database and Insight Market Information provided and/or collected from various sources. This report is presented for the sole and
exclusive information of its recipients and whilst every care has been taken in the preparation of this report, no representation or
warranty, express or implied, is made by Golden Destiny S.A. in respect of the accuracy, completeness or correctness of the
information contained herein. Neither our company nor its directors or employees assumes or accepts any liability whatsoever for
any loss or damage incurred by any person whatsoever in relation to and/or as a result of the use of and/or due to any person’s
reliance on the information contained in this report. Furthermore, no responsibility is accepted in respect of any errors or
inaccuracies which may be contained in this report.

57 AKTI MIAOULI 18536, PIRAEUS GREECE TEL: +30 210 4295000

EMAIL: snv@goldendestiny.com WEBSITE: www.goldendestiny.com