The Baltic Dry Index Dry cargo fixture summary - 05 Sept 2007

Dry cargo fixture summary - 05 September 2007 ==========================

BDI Baltic Dry Index 8090 UP 183
BCI Baltic Capesize Index 11054 UP 157
BPI Baltic Panamax Index 8318 UP 376
BSI Baltic Supramax Index 5239 UP 70
BHSI Baltic Handysize Index 2522 UP 12

Timecharter
-----------
'Nord Steel' newbuilding 180000 dwt dely retro ex yard Imabari 31 Aug 12
months trading redel worldwide $125000 daily - Kleimar

'Genco Constantine' newbuilding 180000 dwt dely ex yard Imabari April
2008 5 years trading redel worldwide $55000 daily including profit share
- Cargill

'Antonis Angelicoussis' newbuilding 177000 dwt dely ex yard SWS 6 Nov min
11/max 13 months trading redel worldwide $120000 daily - Dreyfus

'Fertilia' 1996 171585 dwt dely Qingdao 19/21 Sept trip via Brazil redel
China $113000 daily - STX Pan Ocean

'Pascha' 2006 82574 dwt dely Ghent 9/12 Sept trip via US Gulf redel
Immingham $70000 daily - TIMI

'Apollo' 2006 77326 dwt - <reported 04/09 the charterer is Blystad>

'Ariana' 2005 76631 dwt dely Ghent 8/10 Sept trip via Brazil redel Taiwan
$74000 daily - CSE

'Ikan Kerapu' 2006 76454 dwt dely Muroran 11/13 Sept trip via NoPac redel
Singapore-Japan rge $72000 daily - STX Pan Ocean

'Rose Atlantic' 2005 75734 dwt dely Piombino ppt 1/2 laden legs via EC South
America redel Skaw-Cape Passero $66500 daily - Cargill

'Spitha' 2005 75411 dwt dely Cape Passero 18/20 Sept balance of period
Feb/Mar 2008 redel worldwide $70500 daily - cnr

'Ever Mighty' Skaarup Fortune Shipping relet 1996 75265 dwt dely Worldwide
Nov/Dec 2007 12/14 months trading redel worldwide $60000 daily
- Norden - <recent>

'Audax' 2001 75220 dwt dely Worldwide 26 Dec/15 Mar 12/13 months trading
redel worldwide $62000 daily - cnr

'Primrose' Transfield relet 2001 74716 dwt dely Porto Torres 8/10 Sept
balance of period 1/28 Feb redel worldwide $70000 daily - cnr

'Yong Huan' 2000 74500 dwt dely Hong Kong mid Sept 1 years trading redel
worldwide $66000 daily - Transfield

'Lilian Z' Giuseppe Bottiglieri relet 1999 74461 dwt dely Worldwide Dec
2007 1 years trading redel worldwide $65000 daily - Norden

'Alabanda' 1995 74044 dwt dely Kaohsiung in d/c 8 Sept 4/5 months trading
redel worldwide $70000 daily - OBS

'Gaurav Prem' 2005 73901 dwt dely Hamburg 3/5 Sept trip via Norfolk & Black
Sea redel Cape Passero $66000 daily - Mittal - <fixed end of last
week>

'Great Loyalty' CTP relet 1999 73659 dwt dely Hong Kong 12/15 Sept balance
of period until Jan/Feb 2008 redel worldwide $68500 daily - Norden - <fixed
earlier this week>

'Anangel Omonia' Atlas Bulk Shipping relet 1996 73591 dwt dely Japan
10/15 Sept 4/6 months trading redel worldwide $64500 daily - Navios - <fixed
last week>

'Anangel Omonia' Navios relet 1996 73591 dwt dely Japan 10/15 Sept 4/6
months trading redel worldwide $70000 daily - Oldendorff

'Cymbeline' GMI relet 2001 73060 dwt dely Worldwide 1 Oct/30 Nov 12/14
months trading redel worldwide $64000 daily - Norden

'Hamburg Max' BHP Billiton relet 1994 72338 dwt dely Rotterdam 5/7 Sept trip
via Trombetas redel Aughinish $65000 daily - Transfield

'New Leader' 1996 72072 dwt dely Japan in d/c 20/25 Sept trip via NoPac or
Australia redel Singapore-Japan rge option redel Skaw-Hamburg $70000 daily -
Baumarine

'Royal Ocean' 1995 70677 dwt dely La Corunna 6/8 Sept trip via US Gulf &
Egypt redel Cape Passero $66000 daily - Cargill

'Scenery Sea' 1991 69359 dwt dely Santos 13/15 Sept trip via EC South
America redel Continent $59000 daily + $1.00 million bb - Bunge

'Ledra' 1980 65190 dwt dely Gibraltar spot trip via River Plate redel Spain
$51000 daily - Transgrain

'Athos' 2004 52502 dwt dely East Coast Mexico spot trip redel East Med
approx $72000 daily - CNR

'Pacific Emerald' 1996 49016 dwt dely Punta Cardon 8/13 Sept trip redel
Adriatic approx $70000 daily + approx $400000 bb - CNR

'Arran Trader' 2000 48220 dwt dely Batangas 11/13 Sept trip via South- East
Asia redel Singapore-Japan $58000 - CNR

'Xin Qiang' 1998 45732 dwt dely Tobata 7/9 Sept 11/13 months trading redel
worldwide $49000 daily - Eastern Ocean

'African Ibis' 2004 32300 dwt dely Algeria spot trip via US Gulf redel East
Africa $41000 daily - Tradelines

'Sea Riches' 2001 28287 dwt dely psg Gibraltar 7/8 Sept trip via Continent
redel East Mediterranean $39000 daily - BBL

'Doxa' 1983 26900 dwt 12.5 on 23 + 2.5 go dely Paranagua spot trip redel
Continent $26000 daily + 425000 bb - Glencore