*** SHADOW PRICES ***
ALTERNATIVE SHIP RESALE VALUES.
CALCULATED AS OF 09/28/09.
(ALL PRICES IN MILLIONS OF US$).
.
SHADOW PRICES FOR BULK CARRIERS.
DWT_____AGE_5___AGE_10__AGE_15__AGE_20
52,000 $ 31.7M $ 23.1M $ 15.7M $ 9.1M
74,000 $ 35.1M $ 25.6M $ 17.4M $ 10.4M
172,000 $ 46.9M $ 34.0M $ 23.2M $ 13.1M
.
SHADOW PRICES FOR TANKERS.
DWT_____AGE_5___AGE_10__AGE_15__AGE_20
45,000 $ 26.2M $ 11.2M $ 8.5M $ 4.5M
105,000 $ 40.9M $ 26.7M $ 14.8M $ 7.6M
305,000 $ 71.1M $ 45.7M $ 26.0M $ 15.7M
.
SHADOW PRICES are based on the very strong
historic correlation between Charter Rates
and Ship Values. Charter Rates measure a
vessel's earning power, which is a direct
determinant of its resale value.
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