Daily Summary of Baltic Exchange Dry Indices 27.mar.07

Daily Summary of Baltic Exchange Dry Indices

27 March 2007

Baltic Exchange Dry Index TM 5364 (UP 7)

Baltic Exchange Capesize Index TM 7692 (UP 9)

Baltic Exchange Panamax Index TM 5075 (UP 5)

Baltic Exchange Supramax Index TM 3453 (UP 7)

Baltic Exchange Handysize Index TM 1769 (UP 2)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $90944 (UP 3)

BPI Average of the T/C routes $40974 (UP 43)

BSI Average of the T/C routes $36108 (UP 74)

BHSI Average of the T/C routes $26057 (UP 39)

Baltic Exchange Capesize Index 7692 (UP 9)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 26.840 0.095

C3 150000mt Tubarao - Beilun/Baoshan 15 45.427 0.022

C4 150000mt Richards Bay - Rotterdam 5 24.275 -0.150

C5 150000mt W Australia - Beilun/Baoshan 15 18.275 0.100

C7 150000mt Bolivar - Rotterdam 5 27.420 0.090

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 104050 650

C9_03 172000mt Continent/Mediterranean trip Far East 5 115205 -22

C10_03 172000mt Pacific RV 20 79955 -136

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 64568 -477

C12 150000mt Gladstone - Rotterdam 10 32.323 -0.086

Average of the T/C Routes 90944 3

Baltic Exchange Panamax Index 5075 (UP 5)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 43105 44

P2A_03 74000mt SKAW-GIB/FAR EAST 25 45271 116

P3A_03 74000mt Japan-SK/Pacific/RV 25 39562 1

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 35956 9

Average of the T/C Routes 40974 43

Baltic Exchange Handysize Index 1769 (UP 2)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 20129 86

HS2 Skaw - Passero trip Boston - Galveston 12.5 20914 71

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 34331 200

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 28894 72

HS5 SE Asia trip via Australia to Singapore - Japan 25 26929 -60

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 25164 0

Average of the T/C Routes 26057 39

Baltic Exchange Supramax Index 3453 (UP 7)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 36843 38

S1B Canakkale Trip Far East 12.5 35723 65

S2 Japan - SK / NOPAC or Australia rv 25 34404 133

S3 Japan - SK Trip Gib - Skaw range 25 34450 89

S4A US Gulf - Skaw-Passero 12.5 50225 -15

S4B Skaw-Passero - US Gulf 12.5 28361 59

Average of the T/C Routes 36108 74

S6 Jpn-SK trip via Aus/India 0 35911 88

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

S5 Trial-W.Africa via ECSA to FarEast 0 39232 -82