LION SHIPBROKERS MARKET REPORT 17 May 2013

BULKERS

M/V "MAGNOLIA" - 179,788 dwt, blt 2009 Daewoo/S.Korea, KR, 9 HO/9 HA, MAN-B+W 6S70MC-C

Sold to clients of Golden Ocean of Norway for $32-$34.5 mill

M/V "HAI SHI" - 172,091 dwt, blt 1997 Nkk/Japan, NK dd due 2/2015, 9 HO/9 HA, B+W 6S70MC, LDT 20,737

Sold at auction by sealed bid basis delivery Queensland anchorage-Australia to Jiuzhou Shipping of China for $12.8 mill

M/V "MONA CENTURY" - 172,036 dwt, blt 2000 Hyundai/S. Korea, NK ss/dd due 3/2015, 9 HO/9 HA, B+W 6S70MC

Sold to clients of Swissmarine of Greece for $16.2-$16.5 mill

M/V "RUBIN LAUREL" - 167,573 dwt, blt 1995 Namura/Japan, NK, 9 HO/9 HA, B+W 7S70MC, LDT 21,537

Sold to clients of Chartworld of Greece for $9.7 mill basis delivery Hong Kong including 2000t bunkers r.o.b. (equivalent to

M/V "BOTAFOGO" - 76,623 dwt, blt 2001 Imabari/Japan, NK, 7 HO/7 HA, B+W 6S60MC

Sold to Greek buyers for $13 mill

M/V "PENDA BULKER" - 76,520 dwt, blt 2005 Tsuneishi/Japan, NK ss due May/June 2013, 7 HO/7 HA, B+W 7S50MC-C

Sold to clients of KC Maritime of HK for $17.5 mill

M/V "MEGA DONOR" - 73,763 dwt, blt 1997 Sumitomo/Japan, KR dd due 04/2015, 7 HO/7 HA, Sulzer 7RTA48T, gearless,

LDT 9,483 (scrap value today abt $4 mill)

Sold to Chinese buyers for $8.2-$8.4 mill

M/V "BARBARA" - 73,317 dwt, blt 1997 Halla/S. Korea, AB, 7 HO/7 HA, B+W 5S60MC

Sold at auction in Balboa-Panama to clients of Eastern Mediterranean of Greece for $7.5 mill

M/V "EVER YOUNG" - 73,081 dwt, blt 1995 Samsung/S.Korea, KR, dd due 6/2013, 7 HO/7 HA, B+W 6S60MC, gearless

Sold to Chinese buyers for $7 mill

M/V "MP PANAMAX 4" - 69,925 dwt, blt 1995 Sanoyas/Japan, AB ss due 07/2015 dd due 10/2013, 7 HO/7 HA, Sulzer

7RTA52U, Cr 4X30T, LDT 9478 mt (scrap value abt usd 4 mill)

Sold to undisclosed buyers for $7.5 mill

M/V "FGM IRON" - 68,461 dwt, blt 1996 Imabari/Japan, NK ss due 6/2016 dd due 6/2014, 7 HO/7 HA, Sulzer 6RTA62, Cr

4X30T, LDT 10,306 (scrap value today abt usd 4.2 mill)

Sold to Chinese Buyers for $8.5 mill

M/V "TANGO QUEEN" - 55,649 dwt, blt 2007 Oshima/Japan, BV ss due 9/2017 dd due 9/2015, 5 HO/5 HA, MAN-B+W

6S50MC-C, Cr 4X30T, grabs 4 x 7.5 cbm, double hull

Sold to clients of A.M. Nomikos of Greece for $20.1 mill

M/V "LEGEND PHOENIX" - 50,209 dwt, blt 2002 Mitsui/Japan, NK, 5 HO/5 HA, B+W 6S50MC-C, Cr 4X30T

Sold to clients of Giavridis of Greece for $14 mill (off market deal)

M/V "ANCASH QUEEN" - 46,673 dwt, blt 2002 Kanasashi/Japan, NK ss due 11/2017 dd due 9/2015, 5 HO/5 HA, Mitsubishi

6UEC52LS, Cr 4X30T

Sold to Greek buyers for $13.6 mill basis forward delivery in the fourth quarter of this year and Buyers lodging 20% deposit.

Vessell will be delivered to new owners with dry-docking survey freshly passed.

M/V "MARY H" - 43,929 dwt, blt 1997 Daewoo/S.Korea, AB dd due 11/2014, 5 HO/5 HA, B+W 6S50MC, Cr 4X30T

Sold to clients of LPL Shipping of Greece for $8.3 mill

M/V "MARY G" - 43,873 dwt, blt 1996 Daewoo/S.Korea, AB dd due 3/2014, 5 HO/5 HA, B+W 6S50MC, Cr 4X30T

Sold to Greek buyers for $7.6 mill

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M/V "GOOD PROVIDENCE" - 30,193 dwt, blt 2007 Hindustan/India, IR, 5 HO/5 HA, MAN-B+W 6S42MC, Cr 4X30T,

LDT 7,964

Sold to undisclosed buyers for $10.5 mill

M/V "DIKLO" - 27,321 dwt, blt 2000 Rio Santiago/Argentina, BV/CS ss/dd due 5/2015, 5 HO/5 HA, B+W 5L50MC, Cr

4X30.5T

Sold to Russian buyers for $7.4 mill basis delivery Singapore/Japan range

M/V "CS MANATEE" - 27,128 dwt, blt 2002 New Century/China, AB ss due 1/2017 dd due 3/2015, 5 HO/5 HA, B+W

7S42MC, Cr 4X30T, LDT 7,805

Sold to undisclosed buyers for $9-$9.2 mill

M/V "SIDER ORINOCO" - 25,019 dwt, blt 2010 Ningbo Xinle/China, RI, 4 HO/4 HA BOX/OPEN HATCH, MAN-B+W

7S35MC, Cr 3X30T

M/V "SIDER TINO" - 25,011 dwt, blt 2010 Ningbo Xinle/China, RI, 4 HO/4 HA BOX/OPEN HATCH, MAN-B+W 7S35MC,

Cr 3X30T

Sold at auction via seal bid on 7th May by Genoa court to different Greek buyers for $9.5 mill each basis delivery Trinidad +