Daily Summary of Baltic Exchange Dry Indices 19.apr.07

Subject: index as of 19.apr.07

Daily Summary of Baltic Exchange Dry Indices

19 April 2007

Baltic Exchange Dry Index TM 5782 (UP 82)

Baltic Exchange Capesize Index TM 8404 (UP 152)

Baltic Exchange Panamax Index TM 5393 (UP 64)

Baltic Exchange Supramax Index TM 3727 (UP 41)

Baltic Exchange Handysize Index TM 1870 (UP 20)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $97691 (UP 1923)

BPI Average of the T/C routes $43572 (UP 523)

BSI Average of the T/C routes $38966 (UP 428)

BHSI Average of the T/C routes $27273 (UP 272)

Baltic Exchange Capesize Index 8404 (UP 152)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 27.905 0.275

C3 150000mt Tubarao - Beilun/Baoshan 15 46.677 0.382

C4 150000mt Richards Bay - Rotterdam 5 28.120 0.545

C5 150000mt W Australia - Beilun/Baoshan 15 21.275 0.425

C7 150000mt Bolivar - Rotterdam 5 28.610 0.285

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 104400 1400

C9_03 172000mt Continent/Mediterranean trip Far East 5 115955 1246

C10_03 172000mt Pacific RV 20 96818 2227

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 73591 2818

C12 150000mt Gladstone - Rotterdam 10 35.450 1.336

Average of the T/C Routes 97691 1923

Baltic Exchange Panamax Index 5393 (UP 64)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 44730 341

P2A_03 74000mt SKAW-GIB/FAR EAST 25 47573 471

P3A_03 74000mt Japan-SK/Pacific/RV 25 42977 782

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 39011 500

Average of the T/C Routes 43572 523

Baltic Exchange Handysize Index 1870 (UP 20)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 22364 195

HS2 Skaw - Passero trip Boston - Galveston 12.5 23293 204

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 37781 508

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 35783 1203

HS5 SE Asia trip via Australia to Singapore - Japan 25 25446 46

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 24036 -15

Average of the T/C Routes 27273 272

Baltic Exchange Supramax Index 3727 (UP 41)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 39368 772

S1B Canakkale Trip Far East 12.5 37921 438

S2 Japan - SK / NOPAC or Australia rv 25 37642 218

S3 Japan - SK Trip Gib - Skaw range 25 37455 277

S4A US Gulf - Skaw-Passero 12.5 53683 663

S4B Skaw-Passero - US Gulf 12.5 30566 569

Average of the T/C Routes 38966 428

S6 Jpn-SK trip via Aus/India 0 39050 211

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

S5 Trial-W.Africa via ECSA to FarEast 0 42264 589