Daily Summary of Baltic Exchange Dry Indices 29 March 2007

Daily Summary of Baltic Exchange Dry Indices 29 March 2007

Baltic Exchange Dry Index TM 5355 (DOWN 1)

Baltic Exchange Capesize Index TM 7701 (UP 15)

Baltic Exchange Panamax Index TM 5006 (DOWN 31)

Baltic Exchange Supramax Index TM 3476 (UP 12)

Baltic Exchange Handysize Index TM 1777 (UP 1)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $90906 (UP 197)

BPI Average of the T/C routes $40426 (DOWN 245)

BSI Average of the T/C routes $36344 (UP 119)

BHSI Average of the T/C routes $26139 (UP 2)

Baltic Exchange Capesize Index 7701 (UP 15)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 27.045 0.160

C3 150000mt Tubarao - Beilun/Baoshan 15 45.514 0.046

C4 150000mt Richards Bay - Rotterdam 5 23.720 -0.105

C5 150000mt W Australia - Beilun/Baoshan 15 18.385 0.065

C7 150000mt Bolivar - Rotterdam 5 27.610 0.140

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 104450 0

C9_03 172000mt Continent/Mediterranean trip Far East 5 116000 591

C10_03 172000mt Pacific RV 20 80082 196

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 63091 0

C12 150000mt Gladstone - Rotterdam 10 32.064 -0.059

Average of the T/C Routes 90906 197

Baltic Exchange Panamax Index 5006 (DOWN 31)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 42308 -305

P2A_03 74000mt SKAW-GIB/FAR EAST 25 44538 -325

P3A_03 74000mt Japan-SK/Pacific/RV 25 39176 -187

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 35684 -161

Average of the T/C Routes 40426 -245

Baltic Exchange Handysize Index 1777 (UP 1)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 20450 86

HS2 Skaw - Passero trip Boston - Galveston 12.5 21414 171

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 34719 138

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 28900 -50

HS5 SE Asia trip via Australia to Singapore - Japan 25 26764 -93

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 25050 -71

Average of the T/C Routes 26139 2

Baltic Exchange Supramax Index 3476 (UP 12)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 36889 28

S1B Canakkale Trip Far East 12.5 35850 69

S2 Japan - SK / NOPAC or Australia rv 25 35127 352

S3 Japan - SK Trip Gib - Skaw range 25 34632 114

S4A US Gulf - Skaw-Passero 12.5 50078 -90

S4B Skaw-Passero - US Gulf 12.5 28420 20

Average of the T/C Routes 36344 119

S6 Jpn-SK trip via Aus/India 0 36382 180

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

S5 Trial-W.Africa via ECSA to FarEast 0 39268 -21