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Vessel Purchase Options

Certain lease agreements provide the Group with options to purchase the related vessels at predetermined times and prices during the lease periods. The average price of the Group’s existing purchase options in the earliest years in which these options may be exercised, along with the number of vessels and the average age of such vessels in those years, are as follows:

Earliest year
in which options may be
exercised
Vessel
type
Number of
vessels at
31 December 2014 2
Average age
of vessels
(years)
Average
purchase option
exercise price 1
(US$ Million)
2015 Handysize 1 7 13.9
2016 Handysize 2 5 25.6
Handymax 1 5 30.0
Post-Panamax 1 5 44.4
2017 Handysize 2 9 17.3
2020 Handysize 4 5 22.8
2021 Handysize 2 6 23.9
Handymax 1 5 29.3
2022 Handymax 1 7 27.0
2025 Handysize 1 7 27.6
Total 16
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