Daily Summary of Baltic Exchange Dry Indices 30/Mar.07

Daily Summary of Baltic Exchange Dry Indices

30 March 2007

Baltic Exchange Dry Index TM 5388 (UP 33)

Baltic Exchange Capesize Index TM 7810 (UP 109)

Baltic Exchange Panamax Index TM 5003 (DOWN 3)

Baltic Exchange Supramax Index TM 3482 (UP 6)

Baltic Exchange Handysize Index TM 1775 (DOWN 2)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $91997 (UP 1091)

BPI Average of the T/C routes $40399 (DOWN 27)

BSI Average of the T/C routes $36413 (UP 69)

BHSI Average of the T/C routes $26108 (DOWN 31)

Baltic Exchange Capesize Index 7810 (UP 109)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 27.150 0.105

C3 150000mt Tubarao - Beilun/Baoshan 15 45.668 0.154

C4 150000mt Richards Bay - Rotterdam 5 24.130 0.410

C5 150000mt W Australia - Beilun/Baoshan 15 18.895 0.510

C7 150000mt Bolivar - Rotterdam 5 27.725 0.115

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 104525 75

C9_03 172000mt Continent/Mediterranean trip Far East 5 115864 -136

C10_03 172000mt Pacific RV 20 83000 2918

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 64600 1509

C12 150000mt Gladstone - Rotterdam 10 32.341 0.277

Average of the T/C Routes 91997 1091

Baltic Exchange Panamax Index 5003 (DOWN 3)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 42300 -8

P2A_03 74000mt SKAW-GIB/FAR EAST 25 44550 12

P3A_03 74000mt Japan-SK/Pacific/RV 25 39162 -14

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 35584 -100

Average of the T/C Routes 40399 -27

Baltic Exchange Handysize Index 1775 (DOWN 2)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 20550 100

HS2 Skaw - Passero trip Boston - Galveston 12.5 21521 107

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 34844 125

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 28917 17

HS5 SE Asia trip via Australia to Singapore - Japan 25 26643 -121

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 24875 -175

Average of the T/C Routes 26108 -31

Baltic Exchange Supramax Index 3482 (UP 6)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 36905 16

S1B Canakkale Trip Far East 12.5 35915 65

S2 Japan - SK / NOPAC or Australia rv 25 35323 196

S3 Japan - SK Trip Gib - Skaw range 25 34700 68

S4A US Gulf - Skaw-Passero 12.5 49978 -100

S4B Skaw-Passero - US Gulf 12.5 28464 44

Average of the T/C Routes 36413 69

S6 Jpn-SK trip via Aus/India 0 36600 218

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

S5 Trial-W.Africa via ECSA to FarEast 0 39291 23