Baltic Dry Index Dry cargo fixture summary - 10 May

Subject: Dry cargo fixture summary - 10 May 2007

Dry cargo fixture summary - 10 May 2007

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BDI Baltic Dry Index 6585 UP 107

BCI Baltic Capesize Index 9499 UP 197

BPI Baltic Panamax Index 6251 UP 101

BSI Baltic Supramax Index 4225 UP 43

BHSI Baltic Handysize Index 2111 UP 18

Timecharter

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'Harutamou' 2005 177243 dwt dely Chiba 10/12 May trip via West Australia

redel Kaohsiung $106000 daily - China Steel Express - <recent>

'Mineral Hong Kong' Samsun relet 2006 175000 dwt dely Worldwide Nov-Dec 3

years trading redel worldwide $52500 daily - Glory Wealth

'Fertilia' 1996 172632 dwt dely Hong Kong 14/16 May trip via Australia

redel Taiwan $100000 daily - China Steel Express

'Gran Trader' 2001 172529 dwt dely Xingang 26/30 May 12 months trading

redel worldwide $100000 daily - NCS

'Anangel Dynasty' Cobelfret relet 1999 171101 dwt dely Cape Passero 15/17

May trip via Guaiba & Saldanha Bay redel Japan $130000 daily - 'K' Line

'Front Guider' obo 1991 169142 dwt dely Cape Passero 20/22 May trip via

Brazil redel Far East $130000 daily - STX Pan Ocean

'Shirakumo' 2006 87144 dwt dely Tomakomai 16/18 May trip via NoPac redel

China $53000 daily - cnr

'Agia Filothei' 1988 79764 dwt - <reported 09/05 to Cosco Europe the

business failed and then refixed at $53000 daily>

'Crown Star' 2002 76662 dwt dely Butterworth 18/22 May 5/7 months trading

redel worldwide $51000 daily - BHP Billiton

'Yasa Unity' Cosco relet 2006 75580 dwt dely Shanghai 20/22 May 5/7

months trading redel worldwide $52000 daily - BHP Billiton

'Spitha' Cargill relet 2005 75411 dwt dely Koahsiung 13/15 May trip via

EC Australia redel Japan $50000 daily - NYK

'Filippo Lembo' 1997 75264 dwt dely retro Cape Passero 5 May trip via

Orinoco redel China $56500 daily - Pacific Bulk

'Silver Phoenix PCL relet 2006 74759 dwt dely El Ferrol 24/26 May period

until 1-29 Sept redel worldwide $57000 daily - Transfield

'Alpha Flame' EdF relet 1999 74545 dwt dely Annaba 11/12 May trip via EC

South America redel Far East int grain $56000 daily - cnr

'TBN' ex Marijeannie 2001 74410 dwt dely Worldwide June 2 years trading

redel worldwide $40000 daily - Hanjin

'Theodoros P' 2002 73870 dwt dely Qingdao 10/15 May trip via NoPac redel

Southeast Asia $44500 daily - Dreyfus

'Kalypso' 1997 73762 dwt dely Taichung 14/15 May 2/3 laden legs abt 50-60

days redel worldwide approx $49750 daily - Daebo

'Esna' 1998 71751 dwt dely Surabaya 28/29 May trip via Indonesia redel

Taiwan $65000 daily - D'Amico

'C.Iris' Cosco Qingdao relet 1996 71393 dwt dely Worldwide 15 July/15 Aug

11/13 months trading redel worldwide $45250 daily - S.Korean chrtr

'Endeavour II 1994 70029 dwt dely Taiwan 12/15 May 3/5 months trading 1st

leg clinker to Italy redel worldwide $48500 daily - Skaarup

'Irini' Baumarine relet 1988 69734 dwt dely Antwerp 10/13 May 2 Murmansk

round voyages redel UKC $51000 daily - Suek

'Mass Prosperity' 1993 69625 dwt dely Makassar 23/25 May 4.5/5.5 months

trading redel worldwide $49500 daily - Oldendorff

'Samsun Rania' 1984 68406 dwt dely PMO 11/14 May trip via WC India redel

China $40500 daily - NCS

'Sun Harvest' 1982 64714 dwt dely Cape Passero 15/18 May 2 laden legs

redel Far East $48500 daily - D'Amato

'Panamax Success' Cosco Qingdao relet 1983 63373 dwt dely PMO 15/16 May

trip via WC India redel China $39000 daily - cnr

'Marigo' 1981 63323 dwt dely Fos 9/13 May trip via EC South America redel

Skaw- Cape Passero $38500 daily - cnr

'Medi Melbourne' 2004 53552 dwt dely Durban 15/20 May trip via Richards

Bay redel India approx $67500 daily - Oldendorff

'St Paul' 1994 40900 dwt dely Turkey 14/16 May 8/9 months trading redel

worldwide $36750 daily - Pan Ocean

'Eastgate' 1990 27700 dwt dely Tema 18/19 May trip via EC South America

redel Continent $30000 daily - cnr

'Startramp' 2007 18500 dwt dely South Brazil 15/20 May trip redel

Mediterranean $20000 daily + $350000 bb - cnr

Ore

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'Rubena N' 2006 180000/10 Seven Islands/Rotterdam 20/30 May $19.50 fio 7

days sc - TKS

'CSE TBN' 160000/200000 Saldanha/Kwangyang a/o Pohang 16/30 June $38.25

fio scale/55000sc - POSCO