Baltic Exchange Dry Indices 8 February 2007

Daily Summary of Baltic Exchange Dry Indices

8 February 2007

Baltic Exchange Dry Index TM 4323 (UP 10)

Baltic Exchange Capesize Index TM 6314 (UP 58)

Baltic Exchange Panamax Index TM 4109 (DOWN 13)

Baltic Exchange Supramax Index TM 2744 (DOWN 11)

Baltic Exchange Handysize Index TM 1331 (DOWN 3)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $72258 (UP 789)

BPI Average of the T/C routes $33208 (DOWN 118)

BSI Average of the T/C routes $28688 (DOWN 116)

BHSI Average of the T/C routes $19553 (DOWN 50)

Baltic Exchange Capesize Index 6314 (UP 58)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 21.855 0.225

C3 150000mt Tubarao - Beilun/Baoshan 15 37.650 0.441

C4 150000mt Richards Bay - Rotterdam 5 22.315 0.000

C5 150000mt W Australia - Beilun/Baoshan 15 15.615 0.120

C7 150000mt Bolivar - Rotterdam 5 22.340 0.260

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 78600 1225

C9_03 172000mt Continent/Mediterranean trip Far East 5 92364 1341

C10_03 172000mt Pacific RV 20 64432 409

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 53636 181

C12 150000mt Gladstone - Rotterdam 10 29.841 0.096

Average of the T/C Routes 72258 789

Baltic Exchange Panamax Index 4109 (DOWN 13)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 33937 215

P2A_03 74000mt SKAW-GIB/FAR EAST 25 35837 176

P3A_03 74000mt Japan-SK/Pacific/RV 25 31669 -438

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 31389 -423

Average of the T/C Routes 33208 -118

Baltic Exchange Handysize Index 1331 (DOWN 3)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 14207 -50

HS2 Skaw - Passero trip Boston - Galveston 12.5 14721 -50

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 25438 -118

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 25572 -178

HS5 SE Asia trip via Australia to Singapore - Japan 25 19543 22

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 18700 -21

Average of the T/C Routes 19553 -50

Baltic Exchange Supramax Index 2744 (DOWN 11)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 26868 -103

S1B Canakkale Trip Far East 12.5 26077 -217

S2 Japan - SK / NOPAC or Australia rv 25 28257 -93

S3 Japan - SK Trip Gib - Skaw range 25 29365 -115

S4A US Gulf - Skaw-Passero 12.5 39400 -203

S4B Skaw-Passero - US Gulf 12.5 21915 6

Average of the T/C Routes 28688 -116

S6 Jpn-SK trip via Aus/India 0 27720 -66

The route(s) below do not form part of the index calculation

S5 Trial-W.Africa via ECSA to FarEast 0 29255 -45