Daily Summary of Baltic Exchange Dry Indices 2 MAR.07

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Subject: INDEX AS OF 2 MAR.07

Daily Summary of Baltic Exchange Dry Indices

2 March 2007

Baltic Exchange Dry Index TM 4872 (UP 54)

Baltic Exchange Capesize Index TM 7045 (UP 58)

Baltic Exchange Panamax Index TM 4764 (UP 68)

Baltic Exchange Supramax Index TM 3005 (UP 32)

Baltic Exchange Handysize Index TM 1526 (UP 21)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $80584 (UP 628)

BPI Average of the T/C routes $38437 (UP 555)

BSI Average of the T/C routes $31417 (UP 331)

BHSI Average of the T/C routes $22478 (UP 306)

Baltic Exchange Capesize Index 7045 (UP 58)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 24.550 0.125

C3 150000mt Tubarao - Beilun/Baoshan 15 40.682 0.222

C4 150000mt Richards Bay - Rotterdam 5 24.595 0.070

C5 150000mt W Australia - Beilun/Baoshan 15 17.435 0.215

C7 150000mt Bolivar - Rotterdam 5 25.010 0.055

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 89000 150

C9_03 172000mt Continent/Mediterranean trip Far East 5 98682 432

C10_03 172000mt Pacific RV 20 75118 1343

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 59536 586

C12 150000mt Gladstone - Rotterdam 10 31.695 0.160

Average of the T/C Routes 80584 628

Baltic Exchange Panamax Index 4764 (UP 68)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 41208 432

P2A_03 74000mt SKAW-GIB/FAR EAST 25 43753 458

P3A_03 74000mt Japan-SK/Pacific/RV 25 35372 851

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 33414 478

Average of the T/C Routes 38437 555

Baltic Exchange Handysize Index 1526 (UP 21)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 17243 293

HS2 Skaw - Passero trip Boston - Galveston 12.5 17771 350

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 30156 406

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 25557 399

HS5 SE Asia trip via Australia to Singapore - Japan 25 22921 335

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 21629 165

Average of the T/C Routes 22478 306

Baltic Exchange Supramax Index 3005 (UP 32)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 31252 591

S1B Canakkale Trip Far East 12.5 28375 406

S2 Japan - SK / NOPAC or Australia rv 25 30440 279

S3 Japan - SK Trip Gib - Skaw range 25 31468 195

S4A US Gulf - Skaw-Passero 12.5 43860 470

S4B Skaw-Passero - US Gulf 12.5 24034 232

Average of the T/C Routes 31417 331

S6 Jpn-SK trip via Aus/India 0 30495 460

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