The Baltic Dry index as of 6.july.07

Daily Summary of Baltic Exchange Dry Indices

6 July 2007

Baltic Exchange Dry Index TM 6201 (DOWN 50)

Baltic Exchange Capesize Index TM 7769 (DOWN 232)

Baltic Exchange Panamax Index TM 6925 (UP 47)

Baltic Exchange Supramax Index TM 4105 (UP 13)

Baltic Exchange Handysize Index TM 2000 (UP 6)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $88866 (DOWN 2893)

BPI Average of the T/C routes $55926 (UP 381)

BSI Average of the T/C routes $42925 (UP 135)

BHSI Average of the T/C routes $29163 (UP 96)

Baltic Exchange Capesize Index 7769 (DOWN 232)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 27.455 -0.395

C3 150000mt Tubarao - Beilun/Baoshan 15 49.733 -0.859

C4 150000mt Richards Bay - Rotterdam 5 24.023 -0.645

C5 150000mt W Australia - Beilun/Baoshan 15 18.186 -0.778

C7 150000mt Bolivar - Rotterdam 5 27.895 -0.460

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 97795 -3137

C9_03 172000mt Continent/Mediterranean trip Far East 5 117750 -2521

C10_03 172000mt Pacific RV 20 80250 -3875

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 59667 -2041

C12 150000mt Gladstone - Rotterdam 10 33.991 -0.618

Average of the T/C Routes 88866 -2893

Baltic Exchange Panamax Index 6925 (UP 47)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 59010 365

P2A_03 74000mt SKAW-GIB/FAR EAST 25 60093 132

P3A_03 74000mt Japan-SK/Pacific/RV 25 55390 559

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 49211 467

Average of the T/C Routes 55926 381

Baltic Exchange Supramax Index 4105 (UP 13)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 45014 292

S1B Canakkale Trip Far East 12.5 45090 242

S2 Japan - SK / NOPAC or Australia rv 25 39088 48

S3 Japan - SK Trip Gib - Skaw range 25 40718 45

S4A US Gulf - Skaw-Passero 12.5 60616 227

S4B Skaw-Passero - US Gulf 12.5 33064 129

Average of the T/C Routes 42925 135

Baltic Exchange Handysize Index 2000 (UP 6)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 23956 53

HS2 Skaw - Passero trip Boston - Galveston 12.5 24737 144

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 38414 336

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 38129 251

HS5 SE Asia trip via Australia to Singapore - Japan 25 27719 -6

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 26314 -4

Average of the T/C Routes 29163 96