Daily Summary of Baltic Exchange Dry Indices 3.apr.07

Daily Summary of Baltic Exchange Dry Indices

3 April 2007

Baltic Exchange Dry Index TM 5439 (UP 22)

Baltic Exchange Capesize Index TM 7929 (UP 41)

Baltic Exchange Panamax Index TM 5045 (UP 29)

Baltic Exchange Supramax Index TM 3494 (UP 5)

Baltic Exchange Handysize Index TM 1775 (No change)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $93274 (UP 443)

BPI Average of the T/C routes $40741 (UP 243)

BSI Average of the T/C routes $36537 (UP 56)

BHSI Average of the T/C routes $26068 (DOWN 27)

Baltic Exchange Capesize Index 7929 (UP 41)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 27.315 0.045

C3 150000mt Tubarao - Beilun/Baoshan 15 45.841 0.014

C4 150000mt Richards Bay - Rotterdam 5 24.350 0.065

C5 150000mt W Australia - Beilun/Baoshan 15 19.280 0.120

C7 150000mt Bolivar - Rotterdam 5 27.985 0.075

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 104720 -60

C9_03 172000mt Continent/Mediterranean trip Far East 5 116295 45

C10_03 172000mt Pacific RV 20 86500 1409

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 65582 377

C12 150000mt Gladstone - Rotterdam 10 32.605 0.078

Average of the T/C Routes 93274 443

Baltic Exchange Panamax Index 5045 (UP 29)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 42570 207

P2A_03 74000mt SKAW-GIB/FAR EAST 25 44925 125

P3A_03 74000mt Japan-SK/Pacific/RV 25 39623 423

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 35845 216

Average of the T/C Routes 40741 243

Baltic Exchange Handysize Index 1775 (NO CHANGE)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 20871 121

HS2 Skaw - Passero trip Boston - Galveston 12.5 21736 100

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 35094 100

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 29322 266

HS5 SE Asia trip via Australia to Singapore - Japan 25 26357 -122

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 24404 -282

Average of the T/C Routes 26068 -27

Baltic Exchange Supramax Index 3494 (UP 5)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 36939 44

S1B Canakkale Trip Far East 12.5 35998 13

S2 Japan - SK / NOPAC or Australia rv 25 35692 163

S3 Japan - SK Trip Gib - Skaw range 25 34886 75

S4A US Gulf - Skaw-Passero 12.5 49748 -67

S4B Skaw-Passero - US Gulf 12.5 28452 -23

Average of the T/C Routes 36537 56

S6 Jpn-SK trip via Aus/India 0 36864 100

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

S5 Trial-W.Africa via ECSA to FarEast 0 39395 75