SHIPPING MARKET OUTLOOK ClarkSea Index Tanker Average Spot Earnings 55 $,000/d 100 $ 000/d ■■■■■ 5 -Aframax Crude 90 Tankers 80 Handy Product 6E:S5:80 L02/60/9L lou suosxe'MM/dny Tankers (Clean) 40 70 53025 60 50 201 40 30 10 20 5 10 0 6 % 8 N m 寸 0 pL-ue Source: Clarkson Research Services Source:Clarkson Research Services Figure 1.1.1 Figure 1.1.2 Bulker Average Spot Earnings Containership Earnings Index 70 $,000/d 120 93=100 110 660550540530252016 100 90 80 70 60 Licensed to Shanghai Maritime University.Distribution is restricted:please remember to acknowledge the source.http://ww.clarksons.net 15/09/2014 08:45:39 36122 50 10 40 5 0 30 90-inr a 巴2三忘三点芳E 誉马名P Source:Clarkson Research Services Source:Clarkson Research Services Figure 1.1.3 Figure 1.1.4 Clarkson Research Services Spring 2014 9Clarkson Research Services Spring 2014 9 SHIPPING MARKET OUTLOOK Figure 1.1.3 Figure 1.1.4 Figure 1.1.1 Figure 1.1.2 05 10 15 20 25 30 35 40 45 50 55 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 $ ,000/d Source: Clarkson Research Services ClarkSea Index 0 10 20 30 40 50 60 70 80 90 100 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 $ ,000/d Source: Clarkson Research Services Tanker Average Spot Earnings Aframax Crude Tankers Handy Product Tankers (Clean) 05 10 15 20 25 30 35 40 45 50 55 60 65 70 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 $ ,000/d Source: Clarkson Research Services Bulker Average Spot Earnings 30 40 50 60 70 80 90 100 110 120 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 '93 = 100 Source: Clarkson Research Services Containership Earnings Index Licensed to Shanghai Maritime University. Distribution is restricted; please remember to acknowledge the source. http://www.clarksons.net 15/09/2014 08:45:39 36122 Licensed to Shanghai Maritime University. Distribution is restricted; please remember to acknowledge the source. http://www.clarksons.net 15/09/2014 08:45:39 36122