Daily Summary of Baltic Exchange Dry Indices 11.apr.07

Daily Summary of Baltic Exchange Dry Indices

11 April 2007

Baltic Exchange Dry Index TM 5556 (UP 4)

Baltic Exchange Capesize Index TM 8086 (DOWN 36)

Baltic Exchange Panamax Index TM 5226 (UP 33)

Baltic Exchange Supramax Index TM 3547 (UP 17)

Baltic Exchange Handysize Index TM 1774 (DOWN 2)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $94290 (DOWN 501)

BPI Average of the T/C routes $42224 (UP 273)

BSI Average of the T/C routes $37093 (UP 183)

BHSI Average of the T/C routes $26015 (DOWN 32)

Baltic Exchange Capesize Index 8086 (DOWN 36)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 27.490 -0.030

C3 150000mt Tubarao - Beilun/Baoshan 15 46.214 -0.086

C4 150000mt Richards Bay - Rotterdam 5 24.575 -0.400

C5 150000mt W Australia - Beilun/Baoshan 15 20.045 -0.125

C7 150000mt Bolivar - Rotterdam 5 28.220 -0.015

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 104140 -310

C9_03 172000mt Continent/Mediterranean trip Far East 5 114977 -773

C10_03 172000mt Pacific RV 20 91845 -428

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 66195 -496

C12 150000mt Gladstone - Rotterdam 10 32.695 -0.246

Average of the T/C Routes 94290 -501

Baltic Exchange Panamax Index 5226 (UP 33)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 43510 230

P2A_03 74000mt SKAW-GIB/FAR EAST 25 45820 260

P3A_03 74000mt Japan-SK/Pacific/RV 25 41672 262

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 37895 342

Average of the T/C Routes 42224 273

Baltic Exchange Handysize Index 1774 (DOWN 2)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 21136 50

HS2 Skaw - Passero trip Boston - Galveston 12.5 21979 43

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 35713 238

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 30211 294

HS5 SE Asia trip via Australia to Singapore - Japan 25 25529 -339

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 24011 -103

Average of the T/C Routes 26015 -32

Baltic Exchange Supramax Index 3547 (UP 17)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 37414 66

S1B Canakkale Trip Far East 12.5 36210 66

S2 Japan - SK / NOPAC or Australia rv 25 36496 250

S3 Japan - SK Trip Gib - Skaw range 25 35643 218

S4A US Gulf - Skaw-Passero 12.5 50145 295

S4B Skaw-Passero - US Gulf 12.5 28695 95

Average of the T/C Routes 37093 183

S6 Jpn-SK trip via Aus/India 0 37830 353

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

S5 Trial-W.Africa via ECSA to FarEast 0 40141 168