Daily Summary of Baltic Exchange Dry Indices 26.mar.07 & FFA PMX

Daily Summary of Baltic Exchange Dry Indices

26 March 2007

Baltic Exchange Dry Index TM 5357 (UP 27)

Baltic Exchange Capesize Index TM 7683 (UP 41)

Baltic Exchange Panamax Index TM 5070 (UP 32)

Baltic Exchange Supramax Index TM 3446 (UP 9)

Baltic Exchange Handysize Index TM 1767 (UP 7)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $90941 (UP 411)

BPI Average of the T/C routes $40931 (UP 256)

BSI Average of the T/C routes $36034 (UP 100)

BHSI Average of the T/C routes $26018 (UP 89)

Baltic Exchange Capesize Index 7683 (UP 41)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 26.745 0.115

C3 150000mt Tubarao - Beilun/Baoshan 15 45.405 0.160

C4 150000mt Richards Bay - Rotterdam 5 24.425 0.190

C5 150000mt W Australia - Beilun/Baoshan 15 18.175 0.145

C7 150000mt Bolivar - Rotterdam 5 27.330 0.190

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 103400 600

C9_03 172000mt Continent/Mediterranean trip Far East 5 115227 45

C10_03 172000mt Pacific RV 20 80091 591

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 65045 409

C12 150000mt Gladstone - Rotterdam 10 32.409 0.095

Average of the T/C Routes 90941 411

Baltic Exchange Panamax Index 5070 (UP 32)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 43061 245

P2A_03 74000mt SKAW-GIB/FAR EAST 25 45155 316

P3A_03 74000mt Japan-SK/Pacific/RV 25 39561 243

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 35947 222

Average of the T/C Routes 40931 256

Baltic Exchange Handysize Index 1767 (UP 7)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 20043 64

HS2 Skaw - Passero trip Boston - Galveston 12.5 20843 86

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 34131 206

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 28822 122

HS5 SE Asia trip via Australia to Singapore - Japan 25 26989 10

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 25164 107

Average of the T/C Routes 26018 89

Baltic Exchange Supramax Index 3446 (UP 9)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 36805 82

S1B Canakkale Trip Far East 12.5 35658 43

S2 Japan - SK / NOPAC or Australia rv 25 34271 177

S3 Japan - SK Trip Gib - Skaw range 25 34361 159

S4A US Gulf - Skaw-Passero 12.5 50240 -70

S4B Skaw-Passero - US Gulf 12.5 28302 68

Average of the T/C Routes 36034 100

S6 Jpn-SK trip via Aus/India 0 35823 132

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

S5 Trial-W.Africa via ECSA to FarEast 0 38495 -850

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