SHIPPING MARKET OUTLOOK ClarkSea Index Tanker Average Spot Earnings 6 $,000/d 100 ,000/d -Aframax Crude 90 Tankers 4 Clean Product 80 Tankers 053025 70 60 20 30 1 20 10 0 冒等 20-nr 0 80-uer 80in0 60-uer 60-n OL-uer OL-n L-n 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 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 5 0 0 30 80-uer 601im7 9 L-uer -号 气 呈 00-0e 呈 OL-in Source:Clarkson Research Services Source:Clarkson Research Services Figure 1.1.3 Figure 1.1.4 Clarkson Research Services Autumn 2012 9Clarkson Research Services Autumn 2012 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 $ ,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 $ ,000/d Source: Clarkson Research Services Tanker Average Spot Earnings Aframax Crude Tankers Clean Product Tankers 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 $ ,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 '93 = 100 Source: Clarkson Research Services Containership Earnings Index 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