The Baltic Dry Index Daily Panamax Report 10th September

Dry cargo fixture summary - 10 September 2007 ==========================

BDI Baltic Dry Index 8477 UP 67
BCI Baltic Capesize Index 11526 UP 92
BPI Baltic Panamax Index 8878 UP 41
BSI Baltic Supramax Index 5453 UP 65
BHSI Baltic Handysize Index 2576 UP 29

Timecharter
-----------
'Cape Saturn' 2003 175773 dwt dely China end Sept/early Oct 12/14 months
trading redel worldwide $130000 daily - Armada

'Sideris G.S' 174186 dwt dely Shanghai in d/c 20/30 Sept period up to 20
Mar/20 Apr 2008 redel worldwide $137500 daily - CTM

'CHS Harvest' 2006 173624 dwt dely Qingdao spot trip via West Australia
redel Japan $130000 daily - NYK

'Thalassini Niki' relet 2005 171810 dwt dely Hansaport 30 Sept/2 Oct
transtlantic round redel Skaw-Cape Passero $130000 daily - SK Shipping -
<recent>

'Fertilia' STX Pan Ocean relet 1996 171585 dwt dely Qingdao 19/21 Sept trip
via Brazil redel China $121000 daily - NCS

'C Summit' 1995 151143 dwt dely Spain Oct/Nov 2007 12 months trading redel
worldwide $110000 daily - Sinochart

'Giuseppe Rizzo' STX Pan Ocean relet 2004 77500 dwt dely Kaohsiung 14/15
Sept trip via West Australia redel China $80000 daily - NCS

'Apollo' Blystad relet 2006 77326 dwt dely Skaw-Cape Passero 20 Sept/10 Nov
11/13 months trading redel worldwide $69000 daily - Kleimar - <fixed mid
last week>

'Epson Trader' 2001 75993 dwt dely Taichung 20/24 Sept trip via Indonesia
redel India $81000 daily - Armada

'Alpha Melody' 2002 74475 dwt dely Zhoushan 13/15 Sept 5/7 months trading
redel worldwide $70500 daily - CTP

'Alpha Melody' CTP relet 2002 74475 dwt dely Zoushan 13/15 Sept 5/7 months
trading redel worldwide $75000 daily - Sinochart

'F.D. Cris De Angelis' 2007 74400 dwt dely Haldia 10/15 Sept trip via West
Australia redel China $65000 daily - NCS

'Babitonga' 1997 73726 dwt dely San Cyprian 13/20 Sept trip via Kamsar redel
UKC $71000 daily - Baumarine

'Salmas' to be renamed 1995 73506 dwt dely Kobe 10/12 Sept trip via EC
Australia redel Japan $75500 daily - NYK

'Spa Vega' 1995 73350 dwt dely El Dekheila 17/23 Sept trip via Black Sea
redel Singapore-Japan $74750 - cnr

'Hua Shan Hai' 1998 72731 dwt dely Worldwide 30 Nov/1 Jan 23/25 months
trading redel worldwide $55000 daily - cnr

'Lia' 1978 69443 dwt dely Jebel Ali 9/13 Sept trip via WC India redel China
$38000 daily - cnr

'Panagiotis D' Glencore relet 1991 69337 dwt dely La Spezia 7/9 Sept trip
via US Gulf redel China $69000 daily - Alfred C.Toepfer

'Jupiter Applause' 1997 69123 dwt dely Qinhuangdao 14/18 Sept trip via
Indonesia redel China $75000 daily - Cosco Tianjin

'Sea Pride' 1983 68892 dwt dely Rotterdam 18/22 Sept trip via US Gulf redel
Med $60000 daily - Cargill - <corrects from 06/09 report>

'Syros' 1981 63325 dwt dely Cape Passero 23/27 Sept 2 consec round voyages
via EC South America redel Skaw-Cape Passero $55000 daily - Bunge

'Aoyama' 2006 56013 dwt dely Lianyungang spot balance period until end Dec
2007 redel worldwide approx $62500 daily - CNR

'Ikan Acapulco' 2006 55730 dwt dely China October abt 10 months trading
redel worldwide approx $59750 daily - Bulkhandling

'Frieda Selmer' 2004 55718 dwt dely Lanshan-Rizhao 11/16 September trip via
Philippines redel China $63000 daily - Eastern Ocean

'Boron Navigator' 2001 50341 dwt dely USGulf 13/20 September trip redel
UKCont- Med approx $70000 daily - Energy - <recent>

'Stove Transport' 1998 46223 dwt dely Huelva 11/12 September trip via East
Coast South America redel Singapore-Japan $59000 daily - STX Pan Ocean

'Oriental' 1997 43917 dwt dely Montoir spot 1 transatlantic round voyage
redel Skaw/Passero $52000 daily - TGP

Ore
---
'Ocean Shine' Cosco Hong Kong relet 2005 150000/10 Ubu/Beilun & Nantong
5/15 Oct $65.50 fio scale/30000sc $115000 daily demurrage at disport -
Avonwin - <fixed over a week ago>

'Cosco Hong Kong TBN' 150000/10 Itaqui/Qingdao 25 Sept/10 Oct $71.00 fio
scale/30000sc - Nanjing Steel

'Cape Kestrel' Cargill relet 1993 150000/10 Ponta Da Madeira/Rotterdam 20/30
Sept $30.10 fio 6 days sc - CVRD

Misc
----
'Maritime Friendship' 1984 26000/10 sugar S.Brazil/Black Sea ppt $76.50 fio
10000sc/3000 - Bunge - <sugar>