The Baltic Dry index as of 5.sept.07

Daily Summary of Baltic Exchange Dry Indices

5 September 2007

Baltic Exchange Dry Index TM 8090 (UP 183)

Baltic Exchange Capesize Index TM 11054 (UP 157)

Baltic Exchange Panamax Index TM 8318 (UP 376)

Baltic Exchange Supramax Index TM 5239 (UP 70)

Baltic Exchange Handysize Index TM 2522 (UP 12)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $131323 (UP 1850)

BPI Average of the T/C routes $67216 (UP 3094)

BSI Average of the T/C routes $54781 (UP 731)

BHSI Average of the T/C routes $36658 (UP 180)

Baltic Exchange Capesize Index 11054 (UP 157)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 35.227 0.382

C3 150000mt Tubarao - Beilun/Baoshan 15 68.563 1.346

C4 150000mt Richards Bay - Rotterdam 5 35.741 0.291

C5 150000mt W Australia - Beilun/Baoshan 15 26.123 0.291

C7 150000mt Bolivar - Rotterdam 5 35.864 0.469

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 131591 1409

C9_03 172000mt Continent/Mediterranean trip Far East 5 173908 2679

C10_03 172000mt Pacific RV 20 122750 2083

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 97042 1229

C12 150000mt Gladstone - Rotterdam 10 48.513 0.554

Average of the T/C Routes 131323 1850

Baltic Exchange Panamax Index 8318 (UP 376)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 68857 1522

P2A_03 74000mt SKAW-GIB/FAR EAST 25 72163 1281

P3A_03 74000mt Japan-SK/Pacific/RV 25 68186 5386

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 59658 4186

Average of the T/C Routes 67216 3094

Baltic Exchange Handysize Index 2522 (UP 12)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 30179 43

HS2 Skaw - Passero trip Boston - Galveston 12.5 30864 7

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 48572 78

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 52135 600

HS5 SE Asia trip via Australia to Singapore - Japan 25 33800 171

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 31957 186

Average of the T/C Routes 36658 180

Baltic Exchange Supramax Index 5239 (UP 70)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 57745 460

S1B Canakkale Trip Far East 12.5 59354 372

S2 Japan - SK / NOPAC or Australia rv 25 51213 759

S3 Japan - SK Trip Gib - Skaw range 25 50339 1171

S4A US Gulf - Skaw-Passero 12.5 77870 828

S4B Skaw-Passero - US Gulf 12.5 40175 330

Average of the T/C Routes 54781 731