The Baltic Dry Index as of 13.june.07

Daily Summary of Baltic Exchange Dry Indices

13 June 2007

Baltic Exchange Dry Index TM 5407 (DOWN 131)

Baltic Exchange Capesize Index TM 6688 (DOWN 382)

Baltic Exchange Panamax Index TM 5479 (DOWN 42)

Baltic Exchange Supramax Index TM 4043 (DOWN 9)

Baltic Exchange Handysize Index TM 1926 (DOWN 5)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $75853 (DOWN 4493)

BPI Average of the T/C routes $44180 (DOWN 336)

BSI Average of the T/C routes $42271 (DOWN 93)

BHSI Average of the T/C routes $28194 (DOWN 73)

Baltic Exchange Capesize Index 6688 (DOWN 382)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 23.909 -0.632

C3 150000mt Tubarao - Beilun/Baoshan 15 41.975 -1.900

C4 150000mt Richards Bay - Rotterdam 5 21.920 -0.353

C5 150000mt W Australia - Beilun/Baoshan 15 15.736 -1.291

C7 150000mt Bolivar - Rotterdam 5 24.382 -0.641

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 83182 -3136

C9_03 172000mt Continent/Mediterranean trip Far East 5 98542 -4166

C10_03 172000mt Pacific RV 20 65917 -7341

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 55771 -3329

C12 150000mt Gladstone - Rotterdam 10 33.027 -1.055

Average of the T/C Routes 75853 -4493

Baltic Exchange Panamax Index 5479 (DOWN 42)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 48148 -514

P2A_03 74000mt SKAW-GIB/FAR EAST 25 50883 -410

P3A_03 74000mt Japan-SK/Pacific/RV 25 40499 -281

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 37192 -137

Average of the T/C Routes 44180 -336

Baltic Exchange Supramax Index 4043 (DOWN 9)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 44325 -145

S1B Canakkale Trip Far East 12.5 42658 -92

S2 Japan - SK / NOPAC or Australia rv 25 39446 0

S3 Japan - SK Trip Gib - Skaw range 25 40168 -107

S4A US Gulf - Skaw-Passero 12.5 58610 -140

S4B Skaw-Passero - US Gulf 12.5 33348 -154

Average of the T/C Routes 42271 -93

Baltic Exchange Handysize Index 1926 (DOWN 5)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 21879 65

HS2 Skaw - Passero trip Boston - Galveston 12.5 22343 -71

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 36883 -178

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 37070 -193

HS5 SE Asia trip via Australia to Singapore - Japan 25 27443 -86

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 26246 -18

Average of the T/C Routes 28194 -73