SHIPPING MARKET OUTLOOK Bulk Contracting Orderbook Shipbuilding Deliveries 560 m dwt 200 m dwt ■■■■■■■■ 520 ■Bulkers ☐Tankers Forecast 480 175 ▣Combos Orderbook 440 150 400 Others ▣Combos 360 125 ■Tankers▣Bulkers year to date 100 208 75 50 80 25 0 00-0009 08 星屋宝感显星骨高眉胃局 点 Source:Clarkson Research Services Source:Clarkson Research Services Figure 1.3.1 Figure 1.3.2 Orderbook as of Fleet Newbuilding Price Index of fleet Index 100% 250 ■■■■■■ 90% Containers 225 Bulkers Bulkers 80% Tankers .Tankers 200 60% 175 125 30% 100 icensed to The Hong Kong Polytechnic University.Distribution is restricted:please remember to acknowledge the source.http://www.clarksons.nel 01/11/2012 06:20:04 15304 10% 75 0% 50 8 暑 星 Source:Clarkson Research Services Source: Clarkson Research Services Figure 1.3.3 Figure 1.3.4 Clarkson Research Services Autumn 2012 13Clarkson Research Services Autumn 2012 13 SHIPPING MARKET OUTLOOK Figure 1.3.3 Figure 1.3.4 Figure 1.3.1 Figure 1.3.2 0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 m dwt Source: Clarkson Research Services Bulk Contracting & Orderbook Bulkers Tankers Combos Orderbook year to date 0 25 50 75 100 125 150 175 200 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012(f) m dwt Source: Clarkson Research Services Shipbuilding Deliveries Others Combos Tankers Bulkers Forecast 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 % of fleet Source: Clarkson Research Services Orderbook as % of Fleet Containers Bulkers Tankers 50 75 100 125 150 175 200 225 250 Jan-86 Jan-88 Jan-90 Jan-92 Jan-94 Jan-96 Jan-98 Jan-00 Jan-02 Jan-04 Jan-06 Jan-08 Jan-10 Jan-12 Index Source: Clarkson Research Services Newbuilding Price Index Bulkers Tankers Licensed to The Hong Kong Polytechnic University. Distribution is restricted; please remember to acknowledge the source. http://www.clarksons.net 01/11/2012 06:20:04 15304 Licensed to The Hong Kong Polytechnic University. Distribution is restricted; please remember to acknowledge the source. http://www.clarksons.net 01/11/2012 06:20:04 15304