THE BALTIC DRY INDEX FIXTURES REPORT 29/10/2007

The Daily Fixtures Report - 29/10/2007
-------------------------

BDI 11033 UP 8
BCI 15197 DOWN 126
BPI 11641 UP 133
BSI 6936 UP 21
BHSI 3229 DOWN 3

TIMECHARTER
'Great Navigator' 2006 176303 dwt dely Mizushima 15/16 Nov 24 months
trading redel worldwide $150000 daily - Daebo 'Jin Tai' Cosco Qingdao relet
2004 173880 dwt dely Qingdao in d/c 15/20 Nov trip via West Australia redel
China $184000 daily - BHP Billiton 'Lord Byron' CTP relet 2005 76838 dwt
dely Cape Passero 30/31 Oct trip via Brazil redel China int ore $96000
daily - TMT 'Lord Byron' 2005 76838 dwt dely Cape Passero 30/31 Oct 5.5/7.5
months trading redel worldwide $94500 daily - CTP - 'Red Queen' 2005 76752
dwt dely Praia Mole 4/6 Nov trip via Brazil redel China $88000 daily +
$1.5 million bb - Glory Wealth 'Teo' 2002 76421 dwt dely Kashima 27/30 Oct
trip via Indonesia redel Med $105000 daily - Enel 'Peppino D'Amato' 2005
75500 dwt dely Mawan 28 Oct/6 Nov trip via China redel Singapore-Japan rge
$100000 daily - BHP Billiton 'Amira' 2001 74507 dwt dely Mailiao 7/9 Nov
trip via Indonesia redel Continent approx $100000 daily - Cargill
'Erato' 2004 74444 dwt -
'Huang Sheng Hai' 1998 73596 dwt dely Mississippi River 8/12 Nov trip via
US Gulf & Jebel Ali redel PMO $90000 daily + $1.6 million bb - GIEX
'Amfialos' Probulk relet 1990 71749 dwt dely Worldwide April/June 2008
balance of period until Aug/Oct 2009 redel worldwide $65000 daily - Atlas
Bulk Shipping 'TPC Arirang' 1994 71535 dwt dely Zhanjiagang 30 Oct/5 Nov
trip via Indonesia redel Skaw-Cape Passero $100000 daily - Enel
'Birthday' 1993 71504 dwt - business failed>
'Fortezza' 1993 69634 dwt dely Rizhao 31 Oct/3 Nov abt 4 months trading
redel worldwide $93000 daily - Cargill 'Belem' 1995 68500 dwt dely Dalian
4/6 Nov 4/6 months trading redel worldwide $92500 daily - CTP - 'Vinashin
Moonstone' 1984 63400 dwt dely Cape Passero 2/5 Nov trip via US Gulf & Med
redel Cape Passero $75000 daily - Dreyfus 'Five Stars Eternal' 1982 60665
dwt dely N.China 31 Oct/1 Nov trip via N.China redel Taiwan $75000 daily -
cnr 'Ince Inebolu' 2002 52370 dwt dely Japan 15/30 November 11/13 months
trading redel worldwide approx $70750 daily - Chinese charterer - 'Masuren'
1997 open hatch type 36120 dwt dely Antwerp 7/10 Nov trip redel USGulf
$48000 daily - cnr 'VInalines Sai Gon' 1991 26369 dwt dely Beira 8/12 Nov
trip via South Africa redel UK/Continent $47000 daily - Oldendorff

ORE
'Hebei Loyalty' 1987 160000/10 Ponta da Madeira/Beilun & Baoshan 15/24 Nov
$85.00 fio scale/30000sc - Oceanbulk

COAL
'Pacific Accord' 2007 160000/10 Richards Bay/Sines 20/30 Nov $45.00 fio
scale/30000sc - Bocimar - timecharter>

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 26/10/2007

The Daily Fixtures Report - 26/10/2007
-------------------------

BDI 11025 UP 31
BCI 15323 DOWN 80
BPI 11508 UP 161
BSI 6915 UP 24
BHSI 3232 UNCHANGED

TIMECHARTER
'Pacific Accord' 2007 180000 dwt dely ex-yard Imabari spot trip via
Richards Bay redelivery Sines $122000 daily - Bocimar 'Ocean Lord' 2005
82977 dwt dely Hamburg 29/30 Oct trip via St Lawrence River redel passing
Passero $87000 daily - Cerrahgil 'Yasa Fortune' 2006 82849 dwt dely Far
East Dec 12 months trading redel worldwide $87000 daily - Sinochart 'Queen
Lily' 2004 76629 dwt dely Rotterdam 1/5 Nov trip via Brazil redel China
$93000 daily - Pioneer Metals 'Ocean Lily' 2006 76585 dwt dely Sete 28/29
Oct trip via Brazil redel China $93000 daily - cnr 'Marina' 2000 75122 dwt
dely Rizhao 31Oct/3 Nov trip via Indonesia redel China $85000 daily - cnr
'Topeka' 2000 74710 dwt dely Hoping 3/10 Nov balance of period upto 20 Oct
2008 redel worldwide $86000 daily - Kleimar 'Erato' 2004 74444 dwt dely Far
East Nov/Dec 12/14 months redel worldwide $80300 daily - CTP 'Clipper
Emperor' 2000 74381 dwt dely Fos 27/28 Oct trip via Brazil redel China
$92000 daily - Chinese chrtr 'Ever Shining' 1999 74346 dwt dely worldwide
Jan 2008 1 years trading redel worldwide $80000 daily - cnr 'Four Coal' 1999
74020 dwt dely China 25/30 Nov 2 years trading redel worldwide $73500 daily
- Crownland 'Lowlands Sumida' 1998 72493 dwt dely Goa 10/15 Nov trip redel
China $100000 daily - Indian chrtr 'Birthday' 1993 71504 dwt dely
Gladstone 3/9 Nov trip redel Malaysia $93000 daily + $1million bb - cnr
'Wadi Alarab' 1995 70100 dwt dely Nanjing 5/10 Nov 5/7 months trading redel
worldwide $93000 daily - cnr 'Panamax Anna' 1982 64747 dwt dely Tarragona
5/10 Nov trip via Kamsar redel Stade $72500 daily - Proline 'Stella Maris'
2007 52454 dwt dely Altamira 29 Oct/5 Nov trip via USGulf redel
Skaw/Passero $88000 daily - Noble - 25/10> 'Topaz' 1985 46874 dwt dely
East Coast India 1/10 November 5/7 months trading redel worldwide $65000
daily - Seawin 'Clipper Lis' 1996 26412 dwt dely Dalian 29/30 Oct trip via
China redel Indonesia $40000 daily - AWB

The Baltic Dry index as of 25.Oct.07

Subject: index as of 25.Oct.07

Daily Summary of Baltic Exchange Dry Indices

25 October 2007

Baltic Exchange Dry Index TM 10994 (UP 10)

Baltic Exchange Capesize Index TM 15403 (DOWN 84)

Baltic Exchange Panamax Index TM 11347 (UP 90)

Baltic Exchange Supramax Index TM 6891 (UP 19)

Baltic Exchange Handysize Index TM 3232 (UP 8)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $182829 (DOWN 1093)

BPI Average of the T/C routes $91975 (UP 740)

BSI Average of the T/C routes $72054 (UP 197)

BHSI Average of the T/C routes $47358 (UP 95)

Baltic Exchange Capesize Index 15403 (DOWN 84)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 46.518 -0.105

C3 150000mt Tubarao - Beilun/Baoshan 15 87.833 -0.471

C4 150000mt Richards Bay - Rotterdam 5 50.455 -0.490

C5 150000mt W Australia - Beilun/Baoshan 15 38.368 -0.118

C7 150000mt Bolivar - Rotterdam 5 48.086 -0.123

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 180155 -1045

C9_03 172000mt Continent/Mediterranean trip Far East 5 227808 -1284

C10_03 172000mt Pacific RV 20 187917 -1625

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 135438 -416

C12 150000mt Gladstone - Rotterdam 10 65.105 -0.163

Average of the T/C Routes 182829 -1093

Baltic Exchange Panamax Index 11347 (UP 90)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 85564 474

P2A_03 74000mt SKAW-GIB/FAR EAST 25 89388 400

P3A_03 74000mt Japan-SK/Pacific/RV 25 99136 880

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 93811 1206

Average of the T/C Routes 91975 740

Baltic Exchange Handysize Index 3232 (UP 8)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 35900 186

HS2 Skaw - Passero trip Boston - Galveston 12.5 35571 192

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 63100 406

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 64375 225

HS5 SE Asia trip via Australia to Singapore - Japan 25 46389 -40

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 43571 -83

Average of the T/C Routes 47358 95

Baltic Exchange Supramax Index 6891 (UP 19)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 70941 373

S1B Canakkale Trip Far East 12.5 66433 -46

S2 Japan - SK / NOPAC or Australia rv 25 73977 289

S3 Japan - SK Trip Gib - Skaw range 25 73418 454

S4A US Gulf - Skaw-Passero 12.5 95975 -195

S4B Skaw-Passero - US Gulf 12.5 48293 -43

Average of the T/C Routes 72054 197

The Baltic Dry Index T/C & Daily Panamax Report 25th Oct

Subject: T/C & Daily Panamax Report 25th October

Dry cargo fixture summary - 25 October 2007 ==========================

BDI Baltic Dry Index 10994 UP 10
BCI Baltic Capesize Index 15403 DOWN 84
BPI Baltic Panamax Index 11347 UP 90
BSI Baltic Supramax Index 6891 UP 19
BHSI Baltic Handysize Index 3232 UP 8

Timecharter
------------
'Antonis Angelicoussis' 2007 178000 dwt dely ex yard SWS 6/10 November trip
via west Australia redel China $186000 daily - BHP-Billiton

'Peace Blossom' 1987 149000 dwt dely Xiamen 7/10 Nov trip via west Australia
redel China $155000 daily - Glory Wealth

'Yasa Neslihan' 2005 82849 dwt dely Taiwan 1/5 Nov trip via Indonesia redel
Japan $110000 daily - Japanese chrtrs

'Ore Hansa' 2006 82295 dwt dely Chiba 5/10 Nov 3/4 months trading redel
worldwide $105000 daily - STX Pan Ocean

'Double Prosperity' 2005 76633 dwt dely Brazil end Oct trip with iron ore
redel China $85000 + $1.5 million bb - Glory Wealth

'Priscilla Venture' 2008 76000 dwt dely worldwide Feb/Mar 2008 12/13 months
trading redel worldwide $80000 daily - Blystaad

'Navios Hyperion' 2004 75707 dwt dely passing Passero 23 Oct 2 laden legs
first leg via EC South America redel Far East $90000 daily - cnr

'Seattle Trader' 2000 75600 dwt dely Kohsichang 27/29 Oct trip via Port
Hedland redel south of Shanghai approx $112000 daily if redel Shanghai or
north approx $120000 daily - BHP Billiton

'Atlantic Eagle' 2001 74086 dwt dely India 1/5 Nov trip via west coast India
redel China $95000 daily - Chokang

'Gertrud Salamon' 2000 74078 dwt dely worldwide Nov07/Jan 08 9/10 months
trading redel worldwide $82500 daily - Armada

'Lowlands Sumida' 1998 72493 dwt dely Goa 8/15 Nov trip via west coast India
redel China approx $99500 daily - Indian chrtrs

'Triton Lark' 2005 56025 dwt dely West Africa 4/11 November trip via East
Coast South America redel Singapore-Japan $80000 daily - Korean charterer

'Aquitania' 2006 55932 dwt dely Kandla 5/12 November trip redel China approx
$77500 daily - cnr

'Avra' 2004 53806 dwt dely Worldwide Nov/Dec 2007 18/20 months trading redel
worldwide $68000 daily - Korean charterer

'Stella Maris' 2007 52454 dwt dely Altamira 29 Oct/5 Nov trip via USGulf
redel Portugal $90000 daily - Noble

'Mystras' Transfield relet 2001 48377 dwt dely Tonda 27/28 October 3/4
months trading redel worldwide $73000 daily - BHP Billiton

'Jin Qiang' 1998 47324 dwt dely Gijon retro 19 October trip via USGulf redel
Singapore-Japan $62000 daily - Korean charterer

'Jian Qiang' Hanjin relet 1996 46807 dwt dely Zhanjiagang 27/30 October
4/5 months trading redel worldwide approx $69500 daily - cnr

'Dorine' 1998 41488 dwt dely Mississippi River 27/30 October trip redel
Spain approx $69500 daily - Transgrain

'Tassos N' 1986 41343 dwt dely Portbury spot trip via UK redel Egyptian Med
$65000 daily - Norton

'Maritime Peace' 1983 26384 dwt dely Casablanca 1/5 November trip via East
Coast South America redel Singapore-Japan $34750 daily - Cargill

Ore
---
'STX Pan Ocean TBN' 170000/10 Tubarao/Kwangyang 17 Nov/1 Dec $83.74 fio
scale/60000 - Posco

Coal
----
'Tai Shan' 160000/10 Port Hedland/Qingdao 15/30 Nov $38.50 fio scale/30000sc
- BHP-Billiton

Misc
----
'DS Manatee' 2002 25000/10 Pet Coke USGulf/Dublin 29/31 October approx
$75.00 fio 12000sc/9000sc - Irish Cement

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 25/10/2007

The Daily Fixtures Report - 25/10/2007
-------------------------

BDI 10994 UP 10
BCI 15403 DOWN 84
BPI 11347 UP 90
BSI 6891 UP 19
BHSI 3232 UP 8

TIMECHARTER
'Antonis Angelicoussis' 2007 178000 dwt dely ex yard SWS 6/10 November trip
via west Australia redel China $186000 daily - BHP-Billiton 'Peace Blossom'
1987 149000 dwt dely Xiamen 7/10 Nov trip via west Australia redel China
$155000 daily - Glory Wealth 'Yasa Neslihan' 2005 82849 dwt dely Taiwan 1/5
Nov trip via Indonesia redel Japan $110000 daily - Japanese chrtrs 'Ore
Hansa' 2006 82295 dwt dely Chiba 5/10 Nov 3/4 months trading redel
worldwide $105000 daily - STX Pan Ocean 'Double Prosperity' 2005 76633 dwt
dely Brazil end Oct trip with iron ore redel China $85000 + $1.5 million bb
- Glory Wealth 'Priscilla Venture' 2008 76000 dwt dely worldwide Feb/Mar
2008 12/13 months trading redel worldwide $80000 daily - Blystaad 'Navios
Hyperion' 2004 75707 dwt dely passing Passero 23 Oct 2 laden legs first leg
via EC South America redel Far East $90000 daily - cnr 'Seattle Trader' 2000
75600 dwt dely Kohsichang 27/29 Oct trip via Port Hedland redel south of
Shanghai approx $112000 daily if redel Shanghai or north approx $120000
daily - BHP Billiton 'Atlantic Eagle' 2001 74086 dwt dely India 1/5 Nov
trip via west coast India redel China $95000 daily - Chokang 'Gertrud
Salamon' 2000 74078 dwt dely worldwide Nov07/Jan 08 9/10 months trading
redel worldwide $82500 daily - Armada 'Lowlands Sumida' 1998 72493 dwt dely
Goa 8/15 Nov trip via west coast India redel China approx $99500 daily -
Indian chrtrs 'Triton Lark' 2005 56025 dwt dely West Africa 4/11 November
trip via East Coast South America redel Singapore-Japan $80000 daily -
Korean charterer 'Aquitania' 2006 55932 dwt dely Kandla 5/12 November trip
redel China approx $77500 daily - cnr 'Avra' 2004 53806 dwt dely Worldwide
Nov/Dec 2007 18/20 months trading redel worldwide $68000 daily - Korean
charterer 'Stella Maris' 2007 52454 dwt dely Altamira 29 Oct/5 Nov trip
via USGulf redel Portugal $90000 daily - Noble 'Mystras' Transfield relet
2001 48377 dwt dely Tonda 27/28 October 3/4 months trading redel worldwide
$73000 daily - BHP Billiton 'Jin Qiang' 1998 47324 dwt dely Gijon retro 19
October trip via USGulf redel Singapore-Japan $62000 daily - Korean
charterer 'Jian Qiang' Hanjin relet 1996 46807 dwt dely Zhanjiagang 27/30
October
4/5
months trading redel worldwide approx $69500 daily - cnr 'Dorine' 1998 41488
dwt dely Mississippi River 27/30 October trip redel Spain approx $69500
daily - Transgrain 'Tassos N' 1986 41343 dwt dely Portbury spot trip via
UK redel Egyptian Med $65000 daily - Norton 'Maritime Peace' 1983 26384 dwt
dely Casablanca 1/5 November trip via East Coast South America redel
Singapore-Japan $34750 daily - Cargill

ORE
'STX Pan Ocean TBN' 170000/10 Tubarao/Kwangyang 17 Nov/1 Dec $83.74 fio
scale/60000 - Posco

COAL
'Tai Shan' 160000/10 Port Hedland/Qingdao 15/30 Nov $38.50 fio scale/30000sc
- BHP-Billiton

MISC
'DS Manatee' 2002 25000/10 Pet Coke USGulf/Dublin 29/31 October approx
$75.00 fio 12000sc/9000sc - Irish Cement

The Baltic Dry index as of 24.oct.07

Daily Summary of Baltic Exchange Dry Indices

24 October 2007

Baltic Exchange Dry Index TM 10984 (UP 40)

Baltic Exchange Capesize Index TM 15487 (DOWN 28)

Baltic Exchange Panamax Index TM 11257 (UP 119)

Baltic Exchange Supramax Index TM 6872 (UP 27)

Baltic Exchange Handysize Index TM 3224 (UP 18)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $183922 (DOWN 294)

BPI Average of the T/C routes $91235 (UP 987)

BSI Average of the T/C routes $71857 (UP 280)

BHSI Average of the T/C routes $47263 (UP 255)

Baltic Exchange Capesize Index 15487 (DOWN 28)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 46.623 -0.200

C3 150000mt Tubarao - Beilun/Baoshan 15 88.304 -0.379

C4 150000mt Richards Bay - Rotterdam 5 50.945 -0.023

C5 150000mt W Australia - Beilun/Baoshan 15 38.486 0.036

C7 150000mt Bolivar - Rotterdam 5 48.209 -0.241

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 181200 -1073

C9_03 172000mt Continent/Mediterranean trip Far East 5 229092 -1096

C10_03 172000mt Pacific RV 20 189542 -354

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 135854 1346

C12 150000mt Gladstone - Rotterdam 10 65.268 0.491

Average of the T/C Routes 183922 -294

Baltic Exchange Panamax Index 11257 (UP 119)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 85090 114

P2A_03 74000mt SKAW-GIB/FAR EAST 25 88988 -17

P3A_03 74000mt Japan-SK/Pacific/RV 25 98256 2196

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 92605 1652

Average of the T/C Routes 91235 987

Baltic Exchange Handysize Index 3224 (UP 18)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 35714 350

HS2 Skaw - Passero trip Boston - Galveston 12.5 35379 315

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 62694 683

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 64150 410

HS5 SE Asia trip via Australia to Singapore - Japan 25 46429 72

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 43654 68

Average of the T/C Routes 47263 255

Baltic Exchange Supramax Index 6872 (UP 27)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 70568 573

S1B Canakkale Trip Far East 12.5 66479 -37

S2 Japan - SK / NOPAC or Australia rv 25 73688 394

S3 Japan - SK Trip Gib - Skaw range 25 72964 523

S4A US Gulf - Skaw-Passero 12.5 96170 -190

S4B Skaw-Passero - US Gulf 12.5 48336 63

Average of the T/C Routes 71857 280

The route(s) below do not form part of the index calculation

S5 W.Africa via ECSA to FarEast 0 72318 1050

S6 Jpn-SK trip via Aus/India 0 72691 423

S7 Trial: EC India - China 0 71558 1381

The Baltic Dry Index T/C & Daily Panamax Report 24th Oct

Subject: T/C & Daily Panamax Report 24th October

Dry cargo fixture summary - 24 October 2007 ==========================

BDI Baltic Dry Index 10984 UP 40
BCI Baltic Capesize Index 15487 DOWN 28
BPI Baltic Panamax Index 11257 UP 119
BSI Baltic Supramax Index 6872 UP 27
BHSI Baltic Handysize Index 3224 UP 18

Timecharter
------------
'Ina' 2003 176423 dwt dely Wakayama 27/28 October trip via West Australia
redel China $190000 daily - BHP-Billiton

'Mineral Tianjin' 2004 174000 dwt dely Qingdao trip via Richards Bay +
Denmark redel Skaw $130000 daily first 55 days and 190000 daily for balance
- Kleimar

'Lady Maria Luisa' 2007 76500 dwt dely Imabari spot trip via Queensland
redel Taiwan $98000 daily - cnr

'Maritime Lijang' 2006 76032 dwt dely Haldia 25/30 October trip via East
Coast India redel China $100000 daily - cnr

'Nordems' 2001 75253 dwt dely Worldwide February 2008 1 years trading redel
worldwide $78500 daily - Cosco

'Cinzia D'Amato' 2000 74716 dwt dely North China 29/31 October 4/5 months
trading redel worldwide $93000 daily - cnr

'Fortune Lady' 1998 74694 dwt dely Brindisi 5/20 Nov 3 years trading redel
worldwide approx $67000 daily - Parkroad

'Great Intelligence' 2000 74293 dwt dely Qingdao spot trip via Nopac redel
Singapore-Japan $90000 daily - Cargill

'Alabanda' 1995 74040 dwt dely Chiba 29 Oct/3 Nov trip via Nopac redel
Singapore-Japan $101000 daily - Cargill

'Sealuck 2' Eitzen relet 2004 55452 dwt dely Lianyungang 26/30 October trip
via Nopac redel Saudi Arabia approx $77500 daily - JKI

'D Duckling' 2001 52068 dwt dely Fangcheng 1/3 November trip redel West
Coast India $75000 daily - cnr

'VOC Galaxy' 2002 51201 dwt dely Paradip 26/28 October trip redel China
approx $75000 daily - cnr

'Clementine' 2004 50238 dwt dely Nagoya 28 Oct/2 Nov 4/5 months trading
redel worldwide approx $76000 daily - Eitzen

'Atlantica' 2001 50000 dwt dely Cochin 27/31 October trip redel China $70000
daily - Benemar

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT

 

The Daily Fixtures Report 24/10/2007

BDI 10984 UP   40
BCI 15487 DOWN 28
BPI 11257 UP  119
BSI  6872 UP   27
BHSI 3224 UP   18

TIMECHARTER
'Ina' 2003 176423 dwt  dely Wakayama 27/28 October  trip via West Australia
redel China $190000 daily - BHP-Billiton
'Mineral Tianjin' 2004 174000 dwt  dely Qingdao  trip via Richards Bay + Denmark
redel Skaw $130000 daily first 55 days and 190000 daily for balance - Kleimar
'Lady Maria Luisa' 2007 76500 dwt  dely Imabari spot  trip via Queensland redel
Taiwan $98000 daily - cnr
'Maritime Lijang' 2006 76032 dwt  dely Haldia 25/30 October  trip via East Coast
India redel China $100000 daily - cnr
'Nordems' 2001 75253 dwt  dely Worldwide February 2008 1 years trading redel
worldwide $78500 daily - Cosco
'Cinzia D'Amato' 2000 74716 dwt  dely North China 29/31 October 4/5 months
trading redel worldwide $93000 daily - cnr
'Fortune Lady' 1998 74694 dwt  dely Brindisi 5/20 Nov 3 years trading redel
worldwide approx $67000 daily - Parkroad
'Great Intelligence' 2000 74293 dwt  dely Qingdao spot  trip via Nopac redel
Singapore-Japan $90000 daily - Cargill
'Alabanda' 1995 74040 dwt  dely Chiba 29 Oct/3 Nov  trip via Nopac redel
Singapore-Japan $101000 daily - Cargill
'Sealuck 2' Eitzen relet 2004 55452 dwt  dely Lianyungang 26/30 October  trip
via Nopac redel Saudi Arabia approx $77500 daily - JKI
'D Duckling' 2001 52068 dwt  dely Fangcheng 1/3 November  trip redel West Coast
India $75000 daily - cnr
'VOC Galaxy' 2002 51201 dwt  dely Paradip 26/28 October  trip redel China approx
$75000 daily - cnr
'Clementine' 2004 50238 dwt  dely Nagoya 28 Oct/2 Nov  4/5 months trading redel
worldwide approx $76000 daily - Eitzen
'Atlantica' 2001 50000 dwt  dely Cochin 27/31 October  trip redel China $70000
daily - Benemar

 

The Baltic Dry index as of 23.Oct.07

Subject: index as of 23.Oct.07

Daily Summary of Baltic Exchange Dry Indices

23 October 2007

Baltic Exchange Dry Index TM 10944 (UP 91)

Baltic Exchange Capesize Index TM 15515 (UP 32)

Baltic Exchange Panamax Index TM 11138 (UP 224)

Baltic Exchange Supramax Index TM 6845 (UP 26)

Baltic Exchange Handysize Index TM 3206 (UP 22)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $184216 (UP 534)

BPI Average of the T/C routes $90248 (UP 1852)

BSI Average of the T/C routes $71577 (UP 271)

BHSI Average of the T/C routes $47008 (UP 335)

Baltic Exchange Capesize Index 15515 (UP 32)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 46.823 -0.100

C3 150000mt Tubarao - Beilun/Baoshan 15 88.683 -0.205

C4 150000mt Richards Bay - Rotterdam 5 50.968 0.032

C5 150000mt W Australia - Beilun/Baoshan 15 38.450 0.155

C7 150000mt Bolivar - Rotterdam 5 48.450 -0.109

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 182273 364

C9_03 172000mt Continent/Mediterranean trip Far East 5 230188 -229

C10_03 172000mt Pacific RV 20 189896 625

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 134508 1375

C12 150000mt Gladstone - Rotterdam 10 64.777 0.713

Average of the T/C Routes 184216 534

Baltic Exchange Panamax Index 11138 (UP 224)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 84976 455

P2A_03 74000mt SKAW-GIB/FAR EAST 25 89005 637

P3A_03 74000mt Japan-SK/Pacific/RV 25 96060 3537

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 90953 2782

Average of the T/C Routes 90248 1852

Baltic Exchange Handysize Index 3206 (UP 22)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 35364 285

HS2 Skaw - Passero trip Boston - Galveston 12.5 35064 200

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 62011 983

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 63740 484

HS5 SE Asia trip via Australia to Singapore - Japan 25 46357 207

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 43586 157

Average of the T/C Routes 47008 335

Baltic Exchange Supramax Index 6845 (UP 26)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 69995 384

S1B Canakkale Trip Far East 12.5 66516 41

S2 Japan - SK / NOPAC or Australia rv 25 73294 321

S3 Japan - SK Trip Gib - Skaw range 25 72441 430

S4A US Gulf - Skaw-Passero 12.5 96360 -50

S4B Skaw-Passero - US Gulf 12.5 48273 291

Average of the T/C Routes 71577 271

The route(s) below do not form part of the index calculation

S5 W.Africa via ECSA to FarEast 0 71268 441

S6 Jpn-SK trip via Aus/India 0 72268 477

S7 Trial: EC India - China 0 70177 1125

The Baltic Dry index as of 22.oct.07

Subject: index as of 22.oct.07

Daily Summary of Baltic Exchange Dry Indices

22 October 2007

Baltic Exchange Dry Index TM 10853 (UP 55)

Baltic Exchange Capesize Index TM 15483 (UP 71)

Baltic Exchange Panamax Index TM 10914 (UP 60)

Baltic Exchange Supramax Index TM 6819 (UP 29)

Baltic Exchange Handysize Index TM 3184 (UP 23)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $183682 (UP 917)

BPI Average of the T/C routes $88396 (UP 495)

BSI Average of the T/C routes $71306 (UP 308)

BHSI Average of the T/C routes $46673 (UP 327)

Baltic Exchange Capesize Index 15483 (UP 71)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 46.923 0.132

C3 150000mt Tubarao - Beilun/Baoshan 15 88.888 0.393

C4 150000mt Richards Bay - Rotterdam 5 50.936 0.395

C5 150000mt W Australia - Beilun/Baoshan 15 38.295 0.154

C7 150000mt Bolivar - Rotterdam 5 48.559 0.145

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 181909 682

C9_03 172000mt Continent/Mediterranean trip Far East 5 230417 1417

C10_03 172000mt Pacific RV 20 189271 1063

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 133133 508

C12 150000mt Gladstone - Rotterdam 10 64.064 0.223

Average of the T/C Routes 183682 917

Baltic Exchange Panamax Index 10914 (UP 60)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 84521 404

P2A_03 74000mt SKAW-GIB/FAR EAST 25 88368 345

P3A_03 74000mt Japan-SK/Pacific/RV 25 92523 702

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 88171 526

Average of the T/C Routes 88396 495

Baltic Exchange Handysize Index 3184 (UP 23)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 35079 322

HS2 Skaw - Passero trip Boston - Galveston 12.5 34864 300

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 61028 656

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 63256 396

HS5 SE Asia trip via Australia to Singapore - Japan 25 46150 271

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 43429 200

Average of the T/C Routes 46673 327

Baltic Exchange Supramax Index 6819 (UP 29)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 69611 468

S1B Canakkale Trip Far East 12.5 66475 175

S2 Japan - SK / NOPAC or Australia rv 25 72973 435

S3 Japan - SK Trip Gib - Skaw range 25 72011 322

S4A US Gulf - Skaw-Passero 12.5 96410 145

S4B Skaw-Passero - US Gulf 12.5 47982 159

Average of the T/C Routes 71306 308

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 22/10/2007

The Daily Fixtures Report - 22/10/2007
-------------------------

BDI 10853 UP 55
BCI 15483 UP 71
BPI 10914 UP 60
BSI 6819 UP 29
BHSI 3184 UP 23

TIMECHARTER
'Anangel Fortune' 2005 174000 dwt dely Japan 25/30 Oct 22/24 months trading
redel worldwide $140000 daily - Samsun Logics 'Donga Rhea' 1993 150000 dwt
dely Zhoushan 24/26 October trip via Australia redel China $160500 daily -
Constellation 'Yiosonas' 1992 135000 dwt dely Shanghai 1/5 Nov trip via
east Australia redel China $150000 daily - Constellation 'Maritime Taboneo'
2004 76302 dwt dely Kosichang 20/23Oct trip via Indonesia redel east coast
India $100000 daily - cnr 'Loch Maree' 2004 75798 dwt dely south east Asia
29Oct/2Nov trip via Port Hedland redel China $103000 daily - BHP Billiton
'Navios Hyperion'STX Pan Ocean UK relet 2004 75707 dwt dely passing Passero
23 Oct balance of period upto Sept/Oct 2008 redel worldwide $81500 daily -
GMI 'Amazon' 2001 74910 dwt dely retroactive Sual 20 Oct 4/6 months trading
redel worldwide $95000 daily - BHP Billiton 'Rosalia D'Amato' STX Pan Ocean
relet 2001 74716 dwt dely Amsterdam 30/31Oct balance of period upto Mar/Apr
2008 redel worldwide $92000 daily - Armada 'Adriatica Graeca' 2002 74133 dwt
dely Dublin spot 1 years trading redel worldwide $82000 daily - Bunge 'APJ
Suryavir' 1990 71037 dwt dely PMO 24/28 October trip via West Coast India
redel China $68000 daily - Metchart - 'Annoula' 1997 70281 dwt dely
Bagbilao 28/30Oct trip via Indonesia redel Taiwan approx $90000 daily - OBS
'YM Cultivation' 1997 69163 dwt dely Kaohsiung 25Oct/5Nov trip via east
coast Australia redel Japan $97000 daily - Shinwa
'Trust Jakarta' 1984 64873 dwt - not Metchart>
'Messidor' 2004 55317 dwt dely North Spain spot trip via Morehead City
redel India $74000 daily - Cargill 'Balgarka' 2004 41400 dwt dely worldwide
January 2008 abt 9 months trading redel Med approx $55000 daily - Ark
Shipping 'Startramp' 2007 18512 dwt dely Tarragona 1/6Nov 2 laden legs
trading redel Atlantic $28000 daily - Empros Lines

ORE
'Kildare' 200000/10 Tubarao/Qingdao 5/15 November $87.00 fio scale/30000sc -
Chinese charterer

COAL
'Constellation TBN' 150000/10 Roberts Bank/Kwangyang + Pohang 5/20 Nov
$46.50 fio 50000sc/50000sc - 40000sc - Posco

GRAIN
'Helen B' 1983 55000/5 USGulf/China 5/10 Nov $115.00 fio10000shex/8000shex -
Chinese a/c
'Red Jasmine' / -

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 19/10/2007

The Daily Fixtures Report - 19/10/2007
-------------------------

BDI 10798 UP 66
BCI 15412 UP 113
BPI 10854 UP 50
BSI 6790 UP 34
BHSI 3161 UP 26

TIMECHARTER
'Akagisan' 1998 179302 dwt dely Mizushima 25/27 Oct trip via West
Australia redel Far East $190000 daily - S.Korean chrtr 'CHS Creation' EdF
relet 2006 176996 dwt dely aps Brazil 11/20 Nov trip redel China $220000
daily + $3.9 million bb - STX Pan Ocean 'Heng Shan' 2006 175000 dwt dely
retro Pohang 15 Oct 2 years trading redel worldwide $140000 daily - Hanjin
'Aquahope' Transfield relet 1997 167102 dwt dely China 5/10 Nov 5/7 months
trading redel worldwide $175000 daily - Crownland 'Thalassini Kyra TBR' 2002
164218 dwt dely Worldwide Feb/May 2008 5 years trading redel worldwide
$74500 daily - Corus - 'Iron Bill' 2006 82224 dwt dely Rizhao 1/5 Nov
balance of period 10/25 Dec redel worldwide $92000 daily - Daeyang 'Apollo'
2006 77236 dwt dely Gijon 24/26 Oct trip via Guaiba redel Kaohsiung $90000
daily - China Steel Express 'Maple Ridge' 2004 76633 dwt dely Lanshan 5/10
Nov 4/6 months trading redel worldwide $92500 daily - Bunge 'Anthemis'
Pioneer Navigaton relet 2004 76200 dwt dely Taiwan 1/5 Nov
6/8
months trading redel worldwide $93500 daily - European chrtr 'Lietta' 2002
76015 dwt dely China 18/25 Nov 15/17 months trading redel worldwide $79000
daily - Hanjin 'Calm Seas' Morgan Stanley relet 1999 74047 dwt dely
Rotterdam 20/22 Oct trip via Murmansk redel UKC $85000 daily - Cargill
'Ocean Emperor' 1998 74002 dwt dely Mailiao 24/27 Oct trip via Newcastle
redel Japan $90000 daily - Iino 'Hai Huang Xing' 2005 73600 dwt dely
Worldwide end Dec-10 Feb 2008 1 years trading redel worldwide $81000 daily -
Parkroad 'Anastassia C' 2001 73331 dwt dely aps US Gulf 28/29 Oct trip
redel Singapore-Japan rge $86500 daily + $1.45 bb - NYG 'Waimea' relet1997
73048 dwt dely Piombino 23/25 Oct balance of period
22
Dec/22 Jan redel worldwide $86500 daily - cnr 'Apj Suryavir' 1990 71037 dwt
dely PMO 24/28 Oct trip via WC India redel China $78000 daily - Chinese
'New Champion' 1996 70296 dwt dely Port Alfred 26/28 Oct trip via Newport
News redel Jorf Lasfar $78500 daily + $710000 bb - EdF 'Trinity' 1993 69607
dwt dely retro Port Said 17 Oct trip via Black Sea redel Port Said $80000
daily - cnr 'Lia' relet 1998 69443 dwt dely S.Korea 3/13 Nov trip via
N.China redel S.Korea $59000 daily - cnr 'Consul Poppe' 1995 68591 dwt dely
retro Cape Passero 16 Oct trip via US Gulf & Iraq redel PMO $82000 daily -
Golden Ocean 'Dorothea' 1981 65535 dwt dely PMO 24/26 Oct trip via Bandar
Abbas redel China $70000 daily - Phiniqia 'Trust Jakarta' 1984 64873 dwt
dely Sharjah 24 Oct/1 Nov trip via India redel China $75000 daily -
Metchart 'Avra' 1982 64854 dwt dely Hamburg 22/24 Oct trip via US Gulf or
St.Lawrence & Egypt redel Cape Pasero $68000 daily - Sangamon 'Vega I' 1982
63100 dwt dely Chiwan 23/25 Oct trip via NoPac redel Aden-PMO rge $70000
daily - grain chrtr 'Kastor' 2007 58000 dwt dely ex yard North China end
2007 5 years trading redel worldwide $41000 daily - NYK 'Consolidator' 2007
57982 dwt dely Houston spot trip redel Aden-Japan $95000 daily - cnr
'Vela' 2007 53565 dwt dely Kandla 25/30 October trip redel China approx
$71000 daily - Ikhlas 'Navios Astra' 2006 53468 dwt dely Flushing 1/3
November trip via USGulf redel Singapore-Japan $69000 daily - cnr 'Apageon'
2005 52483 dwt dely Surabaya spot trip via Indonesia redel Taiwan approx
$79500 daily - CSE 'St Stephan' 1984 52450 dwt 13 on 33+3.5 dely Kohsichang
8/12 November trip redel Continent $60000 daily - Toepfer 'Cos Lucky' 2003
52395 dwt dely PG 29/31 October trip via South Africa redel
Singapore-Japan $61000 daily - Oldendorff 'Elpis' 1997 46645 dwt dely
Taiwan 22/24 October trip via South-East Asia redel China $68000 daily -
Skaarup Fortune 'Ocean Spirit' 2000 45549 dwt dely North China 20/29
October 5/7 months trading redel worldwide $65000 daily - Chinese charterer
'Floriana Breeze' 1984 39055 dwt dely Mombasa 28/31 Oct trip via South
Africa redel Continent $50000 daily optn redel USGulf $45000 daily - IVS
'Leader 1' 1984 34718 dwt dely Mombasa 25 Oct/5 Nov trip via South Africa
redel UK/Continent approx $45000 daily - IVS

COAL
'Hebei Eagle' 1985 160000/10 Richards Bay/Rotterdam 15/30 Nov $50.80 fio
scale/25000sc - Constellation

GRAIN
'Red Jasmine' 2006 62500/mm agriprods stowing 55 Santos/UK&Poland 1/10 Nov
$90.00 fio basis 1/2 14 total days - Cefetra

The Baltic Dry index as of 19.oct.07

Subject: index as of 19.oct.07

Daily Summary of Baltic Exchange Dry Indices

19 October 2007

Baltic Exchange Dry Index TM 10798 (UP 66)

Baltic Exchange Capesize Index TM 15412 (UP 113)

Baltic Exchange Panamax Index TM 10854 (UP 50)

Baltic Exchange Supramax Index TM 6790 (UP 34)

Baltic Exchange Handysize Index TM 3161 (UP 26)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $182765 (UP 1608)

BPI Average of the T/C routes $87901 (UP 402)

BSI Average of the T/C routes $70998 (UP 354)

BHSI Average of the T/C routes $46346 (UP 419)

Baltic Exchange Capesize Index 15412 (UP 113)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 46.791 0.268

C3 150000mt Tubarao - Beilun/Baoshan 15 88.495 0.491

C4 150000mt Richards Bay - Rotterdam 5 50.541 0.700

C5 150000mt W Australia - Beilun/Baoshan 15 38.141 0.255

C7 150000mt Bolivar - Rotterdam 5 48.414 0.196

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 181227 1454

C9_03 172000mt Continent/Mediterranean trip Far East 5 229000 2333

C10_03 172000mt Pacific RV 20 188208 1333

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 132625 1312

C12 150000mt Gladstone - Rotterdam 10 63.841 0.464

Average of the T/C Routes 182765 1608

Baltic Exchange Panamax Index 10854 (UP 50)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 84117 269

P2A_03 74000mt SKAW-GIB/FAR EAST 25 88023 300

P3A_03 74000mt Japan-SK/Pacific/RV 25 91821 810

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 87645 232

Average of the T/C Routes 87901 402

Baltic Exchange Handysize Index 3161 (UP 26)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 34757 107

HS2 Skaw - Passero trip Boston - Galveston 12.5 34564 50

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 60372 1316

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 62860 560

HS5 SE Asia trip via Australia to Singapore - Japan 25 45879 293

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 43229 365

Average of the T/C Routes 46346 419

Baltic Exchange Supramax Index 6790 (UP 34)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 69143 434

S1B Canakkale Trip Far East 12.5 66300 42

S2 Japan - SK / NOPAC or Australia rv 25 72538 398

S3 Japan - SK Trip Gib - Skaw range 25 71689 466

S4A US Gulf - Skaw-Passero 12.5 96265 450

S4B Skaw-Passero - US Gulf 12.5 47823 182

Average of the T/C Routes 70998 354

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 18/10/07

The Daily Fixtures Report - 18 OCTOBER 2007
-------------------------

BDI 10732 UP 8
BCI 15299 UP 27
BPI 10804 DOWN 65
BSI 6756 UP 40
BHSI 3135 UP 26

TIMECHARTER
'Bulk Hong Kong' 2006 180230 dwt dely Rizhao 20/30 Oct trip via West
Australia redel China approx $189000 daily - BHP Billiton
'Northgate' 1989 179421 dwt -
'Shagang First' 2007 177656 dwt dely South Korea 4/6 Nov trip via West
Australia redel Japan $185000 daily - NYK 'Pompano' 2006 174316 dwt dely
Cape Passero 19/21 Oct trip via Brazil redel China $227000 daily - STX Pan
Ocean 'S.A. Altius' 2001 171509 dwt dely Fos spot trip via Colombia redel
Gijon $165000 daily - Cargill - 'Cyclades' Cosco Qingdao relet 2004 171480
dwt dely Dalian 29/30 Oct trip via West Australia redel China $166000 daily
- Rio Tinto 'Alameda' 2001 170662 dwt dely Fangcheng 5/7 Nov trip via West
Australia redel China $188750 daily - BHP Billiton 'Goldbean TBN'
newbuilding 170000 dwt dely ex yard Daehan Feb/May 2009
5 years
trading redel worldwide $54000 daily nett - Korea Line 'Samos' 1982 136999
dwt dely Zhoushan 16/20 Oct trip via India redel China $87500 daily - Spot
On 'Bellatrix' 2006 77053 dwt dely Butterworth ppt trip via Indonesia
redel India $100000 - STX Pan Ocean 'Betteigueze' 2007 77053 dwt dely
Zhangzhou 19/31 Oct trip via Queensland redel India $91000 daily - SK
Shipping 'Nord Pegasus' 2007 75356 dwt dely Santos 28/31 Oct trip via EC
South America redel China $81000 daily + $1.5 million bb - Glory Wealth
'Medi Tokyo' Korea Line relet 1999 74356 dwt dely Worldwide 15 Nov/15 Dec 1
years trading redel worldwide $81000 daily - SK Shipping 'Scythia Graeca'
Cargill relet 2002 74133 dwt dely Aps SW Pass 2/5 Nov trip via US Gulf
redel Japan $87000 daily plus $1.35 million bonus - 'K' Line 'Cymbeline'
relet 2001 73060 dwt dely Fangcheng 23/24 Oct trip via Indonesia redel
Taiwan $81000 daily - OBS 'Birthday' 1993 71503 dwt dely Nantong spot 2
laden legs 1st leg Weipa/Gladstone redel Singapore-Japan rge $92750 daily -
Panoceanic Shipholdings 'B Indonesia' 1997 70427 dwt dely Qingdao 25/26 Oct
3/5 months trading redel worldwide $86000 daily - Pacific Bulk 'Torm
Marlene' 1997 69548 dwt dely Bin Qasim 18/20 Oct trip via West Coast India
redel China $70000 daily - Noble 'Wina' 1988 68359 dwt dely Canakkale 24/26
Oct trip via Black Sea redel Thailand $83000 daily - Aquavita 'Yasa Ilhan'
2007 55518 dwt dely Xingang 16/19 Oct trip via Nopac redel Singapore-Japan
$74000 daily - Mitsubishi - 'Jin Yuan' 2007 55400 dwt dely worldwide Dec
07/Jan 08 period until August
2008 redel worldwide $72500 daily - Transfield 'Ocean Morning' 2001 52404
dwt dely East Coast India 20/30 November 1 years trading redel worldwide
approx 68000 - cnr 'Sophia' 1996 45950 dwt dely retro Passero 13 October
trip via North Coast South America redel Skaw-Passero $60000 daily -
Oldendorff 'Dimitrovskiy Komsomol' 1986 38545 dwt dely Paranagua 1/12 Nov
trip via east coast South America redel Cont $47500 daily + $820000 bb -
Cargill 'Cosmos Verde' 1999 24838 dwt dely Koshichang prompt trip via
Australia redel Far East $40000 daily - cnr

ORE
'Chou Shan' 2005 160000/10 Guaiba/Taranto 1/10 Nov $49.00 fio 7 days sc
- Ilva -

GRAIN
'TBN' 40000/10 corn Mississippi River/Bejaia 11.5m 20/30 Oct approx
$80.00 fio
8000sx/9000sc - Dreyfus -
TBN 30000/10 wheat Mississippi River/Oran 10.50m 25Oct/5Nov $90.50 fio
8000/6000
- Ameropa (fixed recently)

The Baltic Dry Index T/C & Daily Panamax Report 17th Oct

Dry cargo fixture summary - 17 October 2007 ==========================

BDI Baltic Dry Index 10724 DOWN 24
BCI Baltic Capesize Index 15272 DOWN 89
BPI Baltic Panamax Index 10869 DOWN 61
BSI Baltic Supramax Index 6716 UP 38
BHSI Baltic Handysize Index 3109 UP 30

Timecharter
-----------
'Brave TBN' newbuilding 180000 dwt dely ex yard Daewoo Dec 2009/Jan 2010 5
years trading redel worldwide $59850 daily - Daewoo

'Northgate' 1989 179421 dwt dely Beilun 17/19 Oct trip via Australia or
San Nicolas redel China $180000 daily - cnr

'Genco London' 2007 177852 dwt dely N.China in d/c ppt trip via West
Australia redel China $184000 daily - BHP Billiton - <fixed end of last
week>

'Bocimar TBN' 175000 dwt SWS type dely Worldwide Jan/June 2009 5 years
trading redel worldwide $57000 daily - Korea Line

'Anangel Dynasty' Glory Wealth relet 1999 171101 dwt dely Worldwide
May/June 2008 5 years trading redel worldwide $80000 daily - Pacific King
(must be wrong period should be 3 or 4
years)

'Martzoukos A' 1995 161175 dwt dely South Korea end Oct 4/6 months trading
redel worldwide $170000 daily - Constellation

'Betis' Transbulk relet 2004 76801 dwt dely Portbury 26 Oct/4 Nov trip via
Murmansk redel UKC $75000 daily - Transfield

'Loch Alyn' relet 2005 75744 dwt dely Taichung 25/27 Oct trip via
Australia redel China $95000 daily - BHP Billiton

'Imperial' Navios relet 2007 75510 dwt dely S.Korea 19/21 Oct trip via
Australia redel Singapore-Japan rge $86000 daily - GMI

'Belmonte' 2007 75395 dwt dely Antwerp 25/30 Oct trip via Murmansk redel
UKC $86500 daily - cnr

'Archon' Bunge relet 2001 75121 dwt - <reported 16/10 the
correct rate is $91500 daily redel Atlantic no Far East option with 1/3
Nov dely>

'F.D. Salvatore Pollo' 2007 74500 dwt dely Black Sea 20/30 Oct
2/3 laden legs redel worldwide $86000 daily - Aquavita - <fixed end of
last week>

'Tian Tong Feng' 2001 74275 dwt dely retro Gibraltar 15 Oct trip via US
Gulf redel Far East $87500 daily - Wilmar

'Calm Seas' 1999 74047 dwt dely Worldwide Jan/Mar 2008 21/23 months
trading redel worldwide $67000 daily - Yangming

'Shen Nong Feng' 2002 73978 dwt dely Constanza 22/27 Oct trip via Black
Sea redel Singapore-Japan rge $90000 daily - Aquavita

'Alpha Future' Oldendorff relet 1999 72893 dwt dely Hamburg 22/24 Oct
trip via Baltic redel UKC $86500 daily - Eitzen Bulk Carriers

'Vogetrader' 1996 72195 dwt dely PMO 29 Oct/3 Nov trip via WC India redel
Singapore-Japan rge $84500 daily - cnr

'Shenneng 1' 1993 70181 dwt dely Qinzhou 27/30 Oct trip via EC Kalimantan
redel Japan $85000 dialy - 'K' Line

'Mass Merit' 1993 69620 dwt dely Point Comfort 5/15 Nov trip via US Gulf
& Egypt redel Cape Passero $82000 daily - NNC - <fixed last week>

'President G' Daebo relet 1988 69347 dwt dely Taean 1/5 Nov period up to
Feb/Mar 2008 redel worldwide $87000 daily - European chrtr

'Velos' 1991 65702 dwt dely retro Cape Passero 11 Oct trip via US Gulf &
Iraq redel PMO $82000 daily - cnr

'Georgia' 1982 63300 dwt dely Qingdao 16/20 Oct trip via NoPac int grain
or sulphur redel China $74000 daily - Noble

'Josco Yangzhou' 2005 55621 dwt dely Navlakhi 21/23 October trip redel
China $68000 daily - North China Shipping

'Tai Hunter' 2007 55000 dwt dely ex Yard Oshima December 2007 12 months
trading redel worldwide $71750 daily - Parkroad

'Medi Nagasaki' 2003 53098 dwt dely South China spot trip via South-East
Asia redel Singapore-Japan $73000 daily - cnr

'Lepta Galaxy' 2002 52378 dwt dely Port Harcourt 21/26 October trip via
East Coast South America if redel South China $71500 daily if redel North
China $74000 daily - Wilmar

'Kaity L' 2003 50457 dwt dely Kohsichang 20/25 October 90/115 days trading
redel Singapore-Japan $75000 daily - WBC - <recent>

'Pacific Scorpio' 1997 49061 dwt dely Lome 25/27 October trip via East
Coast South America redel Singapore-Japan $69000 daily - Wilmar

'Star Sea Cosmos' 2000 48893 dwt dely Prai 23/25 October trip via
Australia redel China $73000 daily - Sinoeast

'Yangtze River' 1998 44114 dwt dely Gibraltar spot trip via Casablanca
redel India approx $65000 daily - Wamopl

COAL
----
'Iron Knight' 2004 60000/10 Mobile/Swinoujscie 14/20 Oct $58.00 fio
25000sc/15000sx - Mittal Shipping

The Baltic Dry Index Daily Panamax Report 10th October.x

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

BDI Baltic Dry Index 10218 UP 358
BCI Baltic Capesize Index 14958 UP 570
BPI Baltic Panamax Index 10277 UP 431
BSI Baltic Supramax Index 6144 UP 166
BHSI Baltic Handysize Index 2892 UP 35

Timecharter
-----------
'China Venture' 2005 177808 dwt dely Immingham 27/28 Oct trip via Brazil
redel Far East $227000 daily - STX Pan Ocean

'Cape Saturn' Armada relet 2003 175773 dwt dely Continent mid Dec balance of
period 17 Oct-2 Dec 2008 redel worldwide $160000 daily - Kleimar

'CHS Magnificence' 2006 173541 dwt dely Shanghai 25/27 Oct trip via West
Australia redel China $179000 daily - BHP Billiton

'Tianronghai' Bunge relet 2000 172000 dwt dely Caofeidian 20 Oct/5 Nov
balance of period Apr/May redel worldwide $162500 daily - Morgan Stanley

'Manasota' 2004 171061 dwt dely Wakayama 13/15 Oct trip via West Australia
redel China $166000 daily - Pacific Bulk

'Lowlands Beilun' 1999 170162 dwt dely China end Nov 1 years trading redel
worldwide $146000 daily - Oldendorff

'Maria A.Angelicoussi' Transfield relet 2001 169163 dwt dely Qingdao spot
trip via Richards Bay redel Rotterdam $120000 daily - Swiss Marine

'Sakonnet' obo 1993 79915 dwt dely Rotterdam 16/19 Oct trip via Brazil redel
China $83000 daily - Noble

'Rip Hudner' obo 1994 79915 dwt dely Portbury 8/16 Oct trip via Brazil redel
China $83000 daily - Glory Wealth

'Tai Promotion' 2004 77834 dwt dely Worldwide Nov/Dec 2 years trading redel
worldwide $65000 daily - STX Pan Ocean

'Perla Bulker' 2007 75949 dwt dely Qingdao 15/20 Oct 4/5 months trading
redel worldwide $89000 daily - Morgan Stanley

'Perla Bulker' Morgan Stanley relet 2007 75949 dwt dely Qingdao 15/20 Oct
4/5 months trading redel worldwide $91750 daily - Cargill

'Nord Orion' 2006 75318 dwt dely Tarragona 15 Oct/15 Nov 14/16 months
trading redel worldwide $76000 daily - STX Pan Ocean

'Ecostar G.O' 2007 75000 dwt dely ex yard Hudong 25/28 Oct 4/6 months
trading redel worldwide $87000 daily - Morgan Stanley

'Little Prince' 2001 74133 dwt dely Las Palmas 13/18 Oct balance of period
1/20 Feb 2008 redel worldwide $87000 daily - Cargill - <fixed
Monday>

'Carl Mesem' 1999 73965 dwt dely Far East Nov 12/13 months trading redel
worldwide $78000 daily - cnr

'Szare Szeregi' 1991 73505 dwt dely Yonghung 15/20 Oct 5/7 months trading
redel worldwide $78000 daily - cnr

'Fearless I' 1997 73427 dwt dely Porto Torres ppt trip via EC South America
redel Spain $77000 daily - Transgrain

'C.Journey' 1995 73095 dwt dely Antwerp 22/24 Oct 3/5 months trading redel
worldwide $84000 daily - GMI

'Iron Man' 1997 72861 dwt dely Xiuyu 16/20 Oct 45/50 days redel worldwide
$77000 daily - Norden

'Iron Man' 1997 72861 dwt dely Worldwide Nov/Dec 12/14 months trading redel
worldwide $74000 daily - STX Pan Ocean

'Alpha Effort' 1999 72844 dwt dely Hong Kong 15/18 Oct 5/7 months trading
redel worldwide $90000 daily - Bunge

'Xanadu' 1999 72270 dwt dely Shanghai 15/17 Oct trip via NoPac redel Far
East int ferts $87000 daily - STX Pan Ocean

'Maratha Messenger' Navios relet 1995 71252 dwt dely China 15 Nov/31 Dec
11/13 months trading redel worldwide $70500 daily - STX Pan Ocean - <fixed
Monday>

'Double Fortune' 1997 69118 dwt dely Muroran 18/21 Oct trip via NoPac redel
Singapore-Japan rge $87500 daily - Noble

'Azure' 1982 64200 dwt dely Los Angeles 22/25 Oct trip via NoPac redel Far
East $70000 daily + $1.2 million bb - Sangamon

'Consolidator' 2007 58000 dwt dely Houston 23/27 October trip via USGulf
redel India $95000 daily - cnr

'Medi Chennai' 2005 55862 dwt dely Tema prompt trip via Brazil redel
Saldanha Bay $65000 daily - cnr (fixed recently)

'Orient Phoenix' 2007 55500 dwt dely Xingang 17/19 October trip redel West
Africa $67000 daily - Cargill

'Ermis' 2004 52800 dwt dely Mizushima spot trip via Nopac redel
Singapore-Japan $65000 daily - KLC - <recent>

'Ocean Prince' 2002 52475 dwt dely Kohsichang 18/21 October trip via Arabian
Gulf redel PMO $75000 daily - cnr

'F.Duckling' 2000 52434 dwt dely Far East 25 October/10 November 12 months
trading redel worldwide $62500 - Chinatex

'Flora' 1993 52370 dwt dely Tarragona spot trip via USGulf redel eastern Med
$56500 daily - Cargill

'VOC Gallant' 2002 51215 dwt dely West Africa 1/15 November balance period
until September 2008 redel worldwide $66000 daily - cnr

'Desert Hawk' 1999 50327 dwt dely worldwide Jan/March 2008 2 years trading
redel worldwide $53000 daily - Bluefield

'Marybelle' 1987 42552 dwt dely Gibraltar spot 5/7 months trading redel
worldwide $50500 daily - Armada

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT11/10/07

The Daily Fixtures Report - 11/10/2007
-------------------------

BDI 10513 UP 295
BCI 15403 UP 445
BPI 10580 UP 303
BSI 6337 UP 193
BHSI 2940 UP 48

TIMECHARTER
'CHS Magnificence' 2006 173541 dwt - N.China redel and $175000
daily basis S.China>
'Shagang Sunrise' 1997 171978 dwt dely Far East Dec 20 months trading redel
worldwide $135000 daily - STX Pan Ocean 'Anangel Explorer' NCS relet 2007
171927 dwt dely Qingdao 25/30 Oct trip via West Australia redel China
$185000 daily - BHP Billiton 'Alpha Era' 2000 170387 dwt dely Far East 7/22
Dec 11/13 months trading redel worldwide approx $152750 daily - Bunge 'Cape
Pioneer' 2005 170012 dwt dely Kokura 17/20 Oct trip via West Australia
redel China $170000 daily - Rio Tinto - 'Hebei Forest' 1989 149212 dwt dely
Far East mid Nov 23/25 months trading redel worldwide $107000 daily - Hanjin
'Tai Promotion' STX Pan Ocean relet 2004 77834 dwt dely Worldwide Nov/Dec
15/17 months trading redel worldwide $75000 daily - Daebo 'CMB Italia'
Cosbulk relet 2005 76620 dwt dely Aden end Oct balance of period
31/33 months trading redel worldwide $65000 daily - Transfield 'Pos Dignity'
STX Pan Ocean relet 2004 76600 dwt dely Mississippi River
3/5 Nov
trip via US Gulf redel Aden-PMO rge $90000 daily + $1.5 million bb - Noble
'Red Rose' Alfred C.Toepfer relet 2006 75949 dwt dely Gibraltar ppt 4/6
months trading redel worldwide $87000 daily - Cargill 'Imperial' 2007 75510
dwt dely S.Korea 19/21 Oct 11/13 months trading redel worldwide $77000
daily - Navios - 'Austin' 1995 75229 dwt dely Qingdao 14/17 Oct trip via
West Australia redel China $80000 daily - BHP Billiton - 'Pearl of Jebel
Ali' 2002 75157 dwt dely PMO 17/20 Oct trip via WC India redel Far East
$77500 daily - cnr
'Carl Mesem' 1999 73965 dwt -
'Carola' 1997 73740 dwt dely Mundra 20/22 Oct trip via Richards Bay redel
India $80000 daily - Armada 'Protefs' 2004 73630 dwt dely Cape Passero
18/21 Oct balance of period
22
Feb/22 Mar redel worldwide $85000 daily - Azure 'Armia Krajowa' 1991 73505
dwt dely Nordenham 2/5 Nov 4/6 months trading redel worldwide $82000 daily
- cnr
'Szare Szeregi' 1991 73505 dwt - Sinochart>
'Endless' 1999 73427 dwt dely Mizushima 19/22 Oct trip via Nopac redel Far
East $88000 daily - Dreyfus - 'Barbara' 1997 73317 dwt dely Cape Passero
28/30 Oct 4/6 months trading redel worldwide $83000 daily - Cargill 'Silver
One' 2000 72917 dwt dely Rizhao 25/31 Oct 11/12 months trading redel
worldwide $77000 daily - Daebo 'Deep Seas' Morgan Stanley relet 1999 72829
dwt dely Aughinish 16/19 Oct trip via St.Lawrence redel Skaw-Cape Passero
$85000 daily - Cargill 'Lopi Z' 1998 71982 dwt dely Far East Jan/Mar 2008 1
years trading redel worldwide $73000 daily - Norden 'Full Strong' 1994 70171
dwt dely Kaohsiung 21/25 Oct 6/7 months trading redel worldwide $88000
daily - Dreyfus 'Full Strong' Dreyfus relet 1994 70171 dwt dely Kaohsiung
21/25 Oct 6/7 months trading redel worldwide $91000 daily - Norden 'Jin Pu
Hai' 1996 69963 dwt dely Lisbon 3/5 Nov balance of period 1
Nov/1 Dec
2008 redel worldwide $75000 daily - Navios 'Mass Enterprise' 1993 69555 dwt
dely aps St.Lawrence 16/20 Oct trip redel China $75000 daily + $800000 bb -
Glory Wealth 'YM Cultivation' 1997 69163 dwt dely Kaohsiung 28/30 Oct 4/6
months trading redel worldwide $77000 daily - Klaveness 'Morning Cloud' 1983
66754 dwt dely retro Cape Passero 8 Oct trip via EC South America redel
Cape Passero $64000 daily - Noble 'Vinashin Phoenix' 1985 65051 dwt dely
Ravenna 13/18 Oct trip via Black Sea redel Far East $65000 daily - Rich
Stone 'Swift Flight' 1983 64583 dwt dely Cape Passero spot trip via US
Gulf redel Skaw-Cape Passero $64500 - WIndrose 'Pearl of Sharjah' 1983 63155
dwt dely PMO 15/20 Oct trip via WC India redel Far East $59000 daily - cnr
'Consolidator' 2007 58000 dwt - subjects>
'Mimi Selmer' 2005 55711 dwt dely West Coast India 15/18 October trip
redel China $66000 daily - Metchart 'Xiamen Sea' 2004 53800 dwt dely
Shanghai 25/30 October balance period
8/9
months trading redel worldwide $66000 daily - cnr 'F.Duckling' 2000 52434
dwt dely Far East 25 October/10 November 12 months trading redel worldwide
$62500 daily - Korean charterer - 10/10 report> 'Santana' 2001 50271 dwt
dely Kaoshiung 28/28 October trip via Philippines redel China $70000 daily
- Tongli 'Brother Glory' 1998 46211 dwt dely Annaba 13/17 October 2/4
months trading redel Atlantic $55000 daily - cnr 'Fatma Ana' 1985 42842 dwt
dely USGulf 17/19 October trip redel Med $80000 daily - Armada 'Antarios
Breeze' 1984 40501 dwt dely China 15/30 November 2 years trading redel
worldwide approx $38500 daily - cnr 'Ocean Unity' 1984 37672 dwt dely
passing Gibraltar 12/14 Oct trip via east coast South America redel eastern
Med $47500 daily - Bunge 'Ocean Glory' 2003 35552 dwt dely Cigading 17/21
Oct trip via West Australia redel China $53000 daily - Grandview 'Patriot'
2002 31838 dwt dely Tema 15/25 Oct 3/5 months trading redel worldwide
$49500 daily - cnr

ORE
'Jean LD' Morgan Stanley relet 2005 160000/10 Port Hedland/Qingdao 25
Oct/5 Nov
$36.85 fio scale/25000sc - BHP Billiton
'Orange Trident' 2007 70000/10 Ponta da Madeira/Ghent 25 Oct/8 Nov approx
$44.25 fio 4 days sc - Cetragpa

The Baltic Dry Index T/C & Daily Panamax Report 11th Oct

Subject: T/C & Daily Panamax Report 11th October

Dry cargo fixture summary - 11 October 2007 ==========================

BDI Baltic Dry Index 10513 UP 295
BCI Baltic Capesize Index 15403 UP 445
BPI Baltic Panamax Index 10580 UP 303
BSI Baltic Supramax Index 6337 UP 193
BHSI Baltic Handysize Index 2940 UP 48

Timecharter
-----------
'CHS Magnificence' 2006 173541 dwt - <reported 10/10 $179000 daily based on
N.China redel and $175000 daily basis S.China>

'Shagang Sunrise' 1997 171978 dwt dely Far East Dec 20 months trading redel
worldwide $135000 daily - STX Pan Ocean

'Anangel Explorer' NCS relet 2007 171927 dwt dely Qingdao 25/30 Oct trip via
West Australia redel China $185000 daily - BHP Billiton

'Alpha Era' 2000 170387 dwt dely Far East 7/22 Dec 11/13 months trading
redel worldwide approx $152750 daily - Bunge

'Cape Pioneer' 2005 170012 dwt dely Kokura 17/20 Oct trip via West Australia
redel China $170000 daily - Rio Tinto - <recent>

'Hebei Forest' 1989 149212 dwt dely Far East mid Nov 23/25 months trading
redel worldwide $107000 daily - Hanjin

'Tai Promotion' STX Pan Ocean relet 2004 77834 dwt dely Worldwide Nov/Dec
15/17 months trading redel worldwide $75000 daily - Daebo

'CMB Italia' Cosbulk relet 2005 76620 dwt dely Aden end Oct balance of
period 31/33 months trading redel worldwide $65000 daily - Transfield

'Pos Dignity' STX Pan Ocean relet 2004 76600 dwt dely Mississippi River
3/5 Nov trip via US Gulf redel Aden-PMO rge $90000 daily + $1.5 million bb -
Noble

'Red Rose' Alfred C.Toepfer relet 2006 75949 dwt dely Gibraltar ppt 4/6
months trading redel worldwide $87000 daily - Cargill

'Imperial' 2007 75510 dwt dely S.Korea 19/21 Oct 11/13 months trading redel
worldwide $77000 daily - Navios - <fixed on Monday>

'Austin' 1995 75229 dwt dely Qingdao 14/17 Oct trip via West Australia redel
China $80000 daily - BHP Billiton - <recent>

'Pearl of Jebel Ali' 2002 75157 dwt dely PMO 17/20 Oct trip via WC India
redel Far East $77500 daily - cnr

'Carl Mesem' 1999 73965 dwt - <reported 10/10 the charterer is
SafeFixing>

'Carola' 1997 73740 dwt dely Mundra 20/22 Oct trip via Richards Bay redel
India $80000 daily - Armada

'Protefs' 2004 73630 dwt dely Cape Passero 18/21 Oct balance of period 22
Feb/22 Mar redel worldwide $85000 daily - Azure

'Armia Krajowa' 1991 73505 dwt dely Nordenham 2/5 Nov 4/6 months trading
redel worldwide $82000 daily - cnr

'Szare Szeregi' 1991 73505 dwt - <reported 10/10 the charterer is
Sinochart>

'Endless' 1999 73427 dwt dely Mizushima 19/22 Oct trip via Nopac redel Far
East $88000 daily - Dreyfus - <fixed 09/10>

'Barbara' 1997 73317 dwt dely Cape Passero 28/30 Oct 4/6 months trading
redel worldwide $83000 daily - Cargill

'Silver One' 2000 72917 dwt dely Rizhao 25/31 Oct 11/12 months trading redel
worldwide $77000 daily - Daebo

'Deep Seas' Morgan Stanley relet 1999 72829 dwt dely Aughinish 16/19 Oct
trip via St.Lawrence redel Skaw-Cape Passero $85000 daily - Cargill

'Lopi Z' 1998 71982 dwt dely Far East Jan/Mar 2008 1 years trading redel
worldwide $73000 daily - Norden

'Full Strong' 1994 70171 dwt dely Kaohsiung 21/25 Oct 6/7 months trading
redel worldwide $88000 daily - Dreyfus

'Full Strong' Dreyfus relet 1994 70171 dwt dely Kaohsiung 21/25 Oct 6/7
months trading redel worldwide $91000 daily - Norden

'Jin Pu Hai' 1996 69963 dwt dely Lisbon 3/5 Nov balance of period 1 Nov/1
Dec 2008 redel worldwide $75000 daily - Navios

'Mass Enterprise' 1993 69555 dwt dely aps St.Lawrence 16/20 Oct trip redel
China $75000 daily + $800000 bb - Glory Wealth

'YM Cultivation' 1997 69163 dwt dely Kaohsiung 28/30 Oct 4/6 months trading
redel worldwide $77000 daily - Klaveness

'Morning Cloud' 1983 66754 dwt dely retro Cape Passero 8 Oct trip via EC
South America redel Cape Passero $64000 daily - Noble

'Vinashin Phoenix' 1985 65051 dwt dely Ravenna 13/18 Oct trip via Black Sea
redel Far East $65000 daily - Rich Stone

'Swift Flight' 1983 64583 dwt dely Cape Passero spot trip via US Gulf redel
Skaw-Cape Passero $64500 - WIndrose

'Pearl of Sharjah' 1983 63155 dwt dely PMO 15/20 Oct trip via WC India redel
Far East $59000 daily - cnr

'Consolidator' 2007 58000 dwt - <Business as reported 10/10 failed on
subjects>

'Mimi Selmer' 2005 55711 dwt dely West Coast India 15/18 October trip redel
China $66000 daily - Metchart

'Xiamen Sea' 2004 53800 dwt dely Shanghai 25/30 October balance period
8/9 months trading redel worldwide $66000 daily - cnr

'F.Duckling' 2000 52434 dwt dely Far East 25 October/10 November 12 months
trading redel worldwide $62500 daily - Korean charterer - <corrects
charterer on 10/10 report>

'Santana' 2001 50271 dwt dely Kaoshiung 28/28 October trip via Philippines
redel China $70000 daily - Tongli

'Brother Glory' 1998 46211 dwt dely Annaba 13/17 October 2/4 months trading
redel Atlantic $55000 daily - cnr

'Fatma Ana' 1985 42842 dwt dely USGulf 17/19 October trip redel Med $80000
daily - Armada

'Antarios Breeze' 1984 40501 dwt dely China 15/30 November 2 years trading
redel worldwide approx $38500 daily - cnr

'Ocean Unity' 1984 37672 dwt dely passing Gibraltar 12/14 Oct trip via east
coast South America redel eastern Med $47500 daily - Bunge

'Ocean Glory' 2003 35552 dwt dely Cigading 17/21 Oct trip via West Australia
redel China $53000 daily - Grandview

'Patriot' 2002 31838 dwt dely Tema 15/25 Oct 3/5 months trading redel
worldwide $49500 daily - cnr

Ore
---
'Jean LD' Morgan Stanley relet 2005 160000/10 Port Hedland/Qingdao 25
Oct/5 Nov $36.85 fio scale/25000sc - BHP Billiton

'Orange Trident' 2007 70000/10 Ponta da Madeira/Ghent 25 Oct/8 Nov approx
$44.25 fio 4 days sc - Cetragpa

The Baltic Dry index as of 10.Oct.07

Subject: index as of 10.Oct.07

Daily Summary of Baltic Exchange Dry Indices

11 October 2007

Baltic Exchange Dry Index TM 10513 (UP 295)

Baltic Exchange Capesize Index TM 15403 (UP 445)

Baltic Exchange Panamax Index TM 10580 (UP 303)

Baltic Exchange Supramax Index TM 6337 (UP 193)

Baltic Exchange Handysize Index TM 2940 (UP 48)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $183816 (UP 4786)

BPI Average of the T/C routes $85675 (UP 2456)

BSI Average of the T/C routes $66262 (UP 2015)

BHSI Average of the T/C routes $43055 (UP 711)

Daily Summary of Baltic Exchange Dry Indices

11 October 2007

Baltic Exchange Dry Index TM 10513 (UP 295)

Baltic Exchange Capesize Index TM 15403 (UP 445)

Baltic Exchange Panamax Index TM 10580 (UP 303)

Baltic Exchange Supramax Index TM 6337 (UP 193)

Baltic Exchange Handysize Index TM 2940 (UP 48)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $183816 (UP 4786)

BPI Average of the T/C routes $85675 (UP 2456)

BSI Average of the T/C routes $66262 (UP 2015)

BHSI Average of the T/C routes $43055 (UP 711)

Baltic Exchange Panamax Index 10580 (UP 303)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 82333 2295

P2A_03 74000mt SKAW-GIB/FAR EAST 25 86083 2383

P3A_03 74000mt Japan-SK/Pacific/RV 25 89679 2858

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 84605 2289

Average of the T/C Routes 85675 2456

Baltic Exchange Handysize Index 2940 (UP 48)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 32800 386

HS2 Skaw - Passero trip Boston - Galveston 12.5 33421 400

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 54217 1161

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 56785 1063

HS5 SE Asia trip via Australia to Singapore - Japan 25 42857 928

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 40750 411

Average of the T/C Routes 43055 711

Baltic Exchange Supramax Index 6337 (UP 193)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62823 823

S1B Canakkale Trip Far East 12.5 63765 619

S2 Japan - SK / NOPAC or Australia rv 25 67558 2504

S3 Japan - SK Trip Gib - Skaw range 25 66725 2264

S4A US Gulf - Skaw-Passero 12.5 90388 3908

S4B Skaw-Passero - US Gulf 12.5 44559 1241

Average of the T/C Routes 66262 2015

The route(s) below do not form part of the index calculation

S5 W.Africa via ECSA to FarEast 0 64936 977

S6 Jpn-SK trip via Aus/India 0 66136 1891

S7 Trial: EC India - China 0 65073 986

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 12/10/07

O V E R S E A S A G E N C Y L T D. -- C H A R T E R I N G D E P T.
TEL: +30 (210) 4283640, FAX: +30 (210) 4283650
E-Mail: fix@overseas.gr, Web: www.overseas.gr
*** 1969~2007 -- 38 Years of Shipbroking ***
---

GOOD DAY

The Daily Fixtures Report - 12/10/2007
-------------------------

BDI 10695 UP 182
BCI 15477 UP 74
BPI 10913 UP 333
BSI 6501 UP 164
BHSI 2980 UP 40

TIMECHARTER
'Mineral Hong Kong' 2006 175000 dwt dely Constanza spot transatlantic
round voyage redel Skaw-Cape Passero $167500 daily - SK Shipping 'Hebei
Loyalty' 1987 172810 dwt dely Antwerp 29/30 Oct 12 months trading redel
worldwide $155000 daily - Oldendorff 'ZOSCO Zhoushan' 1994 149309 dwt dely
Algeciras 12/14 Oct trip via Brazil redel China $195000 daily - TMT 'Dong-A
Helios' 1986 146940 dwt dely Worldwide April/May 3 years trading redel
worldwide $68000 daily - Formosa 'Torm Antwerp' newbuilding 76886 dwt dely
ex yard Tsuneishi Jan/Feb
2008 1
years trading redel worldwide $79500 daily - cnr 'Lord Byron' CTP relet 2005
76838 dwt dely Cape Passero 27 Oct/10 Nov period April 2008 redel worldwide
$90000 daily - cnr 'Belo Horizonte' CTP relet 2004 76801 dwt dely Xamen 2/8
Nov 3/4 months trading redel worldwide $93000 daily - Norden 'Red Jasmine'
2006 76662 dwt dely Ijmuiden 14/17 Oct 3/4 months trading redel worldwide
$88000 daily - TME 'Ikan Belanak' 2006 75776 dwt dely Zhoushan 23/25 Oct
trip via Newcastle redel Hoping $95000 daily - Bocimar 'Leonardo Lembo' 1996
75473 dwt dely PMO 1/20 Nov 1 years trading redel worldwide $80000 daily -
cnr
'Ocean Emperor' 1998 74002 dwt - Pacific Carriers>
'Miden Max' 1993 73767 dwt dely Rotterdam spot 4/5 months trading redel
worldwide $84000 daily - TMT 'Bergen Max' 1994 73496 dwt dely Inchon 22/26
Oct trip via NoPac redel Singapore-Japan rge $90000 daily - Dreyfus
'Eleranta' 1995 73222 dwt dely PMO 10 Oct trip via EC South America China
$78500 daily - TMT 'Alpha Glory' 1999 72270 dwt dely ex dry dock Setubal 15
Oct 1 years trading redel worldwide $82000 daily - Atlas Bulk Shipping 'Go
Public' 1993 71761 dwt dely Tarragona 26/28 Oct balance of period
21 Jan/21
Feb redel worldwide $90000 daily - ABT
'Juno Island' 1997 71400 dwt dely Singapore spot 4/6 months trading redel
worldwide $87000 daily - Armada 'Juno Island' Armada relet 1997 71400 dwt
dely Singapore spot 4/6 months trading redel worldwide $92000 daily - cnr
'Great Luck' 1998 71399 dwt dely Worldwide 1/30 Apr 2008 11/13 months
trading redel worldwide $72000 daily - cnr 'Maria V' 1987 69229 dwt dely
Cape Passero 17/22 Oct transatlantic round voyage redel Cape Passero $71000
daily - Windrose 'Natty' 1982 64884 dwt dely Egypt 11/15 Oct trip via US
GUlf & Egypt redel Skaw-Cape Passero $66000 daily - Armada 'Sea Charm' 1982
61502 dwt dely Gibraltar 19/25 Oct transatlantic round voyage redel
Skaw-Cape Passero $66000 - cnr 'Ocean Glory' 2006 56039 dwt dely Haldia
15/17 October trip redel China $69000 daily - cnr 'Desert Melody' 2006
53800 dwt dely Port Kelang 23/29 October trip redel West Afrca $71000
daily - Cargill 'Merlin' 2001 50298 dwt dely Worldwide Nov 07/Jan 08 24/26
months trading redel worldwide $53000 daily - Wylex 'Sanko Phoenix' 1997
46610 dwt dely Gibraltar spot trip via USGulf redel Singapore-Japan $66750
daily - Korean charterer 'Protector' 1984 42833 dwt dely Lagos 25/30 Oct
trip via West Africa redel Black Sea $49000 daily - Oldendorff 'Spar Topaz'
1987 38455 dwt dely retroactive Owendo 4 Oct trip via east coast South
America redel Continent $51000 daily - Bunge 'Eastern Star' STX Pan Ocean
relet 1997 28437 dwt dely worldwide Nov 07/Jan 08
12 months trading redel worldwide $42000 daily - Korea Line 'Hanjin Bombay'
1994 27209 dwt dely Singapore spot trip via Indonesia redel Singapore-Japan
range $42000 daily - IHC

ORE
'MOSK TBN' 160000/10 Ubu/Rotterdam 1/15 Nov $47.50 fio 7 days sc - Rogesa
'Cape Hawk' 1995 160000/10 Guaiba/Taranto 1/15 Nov $56.00 fio scale/40000sc
- Ilva

The Baltic dry index as of 12.oct.07

Subject: index as of 12.oct.07

Daily Summary of Baltic Exchange Dry Indices

12 October 2007

Baltic Exchange Dry Index TM 10695 (UP 182)

Baltic Exchange Capesize Index TM 15477 (UP 74)

Baltic Exchange Panamax Index TM 10913 (UP 333)

Baltic Exchange Supramax Index TM 6501 (UP 164)

Baltic Exchange Handysize Index TM 2980 (UP 40)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $184469 (UP 653)

BPI Average of the T/C routes $88379 (UP 2704)

BSI Average of the T/C routes $67976 (UP 1714)

BHSI Average of the T/C routes $43627 (UP 572)

Baltic Exchange Capesize Index 15477 (UP 74)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 47.214 -0.131

C3 150000mt Tubarao - Beilun/Baoshan 15 88.513 0.609

C4 150000mt Richards Bay - Rotterdam 5 50.455 0.214

C5 150000mt W Australia - Beilun/Baoshan 15 38.014 0.291

C7 150000mt Bolivar - Rotterdam 5 48.600 -0.123

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 186273 -1068

C9_03 172000mt Continent/Mediterranean trip Far East 5 231042 1042

C10_03 172000mt Pacific RV 20 188417 1917

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 132146 721

C12 150000mt Gladstone - Rotterdam 10 63.045 0.731

Average of the T/C Routes 184469 653

Baltic Exchange Panamax Index 10913 (UP 333)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 84548 2215

P2A_03 74000mt SKAW-GIB/FAR EAST 25 88725 2642

P3A_03 74000mt Japan-SK/Pacific/RV 25 92798 3119

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 87447 2842

Average of the T/C Routes 88379 2704

Baltic Exchange Handysize Index 2980 (UP 40)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 33200 400

HS2 Skaw - Passero trip Boston - Galveston 12.5 33864 443

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 55533 1316

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 58205 1420

HS5 SE Asia trip via Australia to Singapore - Japan 25 43114 257

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 40993 243

Average of the T/C Routes 43627 572

Baltic Exchange Supramax Index 6501 (UP 164)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 64618 1795

S1B Canakkale Trip Far East 12.5 64467 702

S2 Japan - SK / NOPAC or Australia rv 25 69456 1898

S3 Japan - SK Trip Gib - Skaw range 25 68543 1818

S4A US Gulf - Skaw-Passero 12.5 93185 2797

S4B Skaw-Passero - US Gulf 12.5 45541 982

Average of the T/C Routes 67976 1714

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 15/10/07

The Daily Fixtures Report - 15/10/2007
-------------------------

BDI 10756 (UP 61)
BCI 15463 (DOWN 14)
BPI 10975 (UP 62)
BSI 6618 (UP 117)
BHSI 3020 (UP 40)

TIMECHARTER
'Jin Tai' 2004 173880 dwt dely Far East 15/20 Nov 1 years trading redel
worldwide $155000 daily - Cosco Qingdao 'Martha' 1994 149782 dwt dely
Kwangyang 19/21 Oct trip via West Australia redel China $160000 daily - cnr
'Clara' 2006 77073 dwt dely Brakke ppt trip via Brazil redel Far East
$91000 daily - cnr - 'Belisland' 2003 76602 dwt dely Shekou 13/15 Oct trip
via NoPac redel Singapore-Japan rge $82500 daily - Cargill 'Medi Tokyo' 1999
74356 dwt dely Worldwide 15 Nov/15 Dec 3 years trading redel worldwide
$62000 daily - Korea Line
'Juno Island' 1997 71400 dwt -
'YM Cultivation' Baumarine relet 1997 69163 dwt dely Kaohsiung 28/30 Oct
4/6 months trading redel worldwide $86000 daily - STX Pan Ocean 'Navios
Hios' 2003 55180 dwt dely Karachi 15/20 October trip via West Coast India
redel China $67000 daily - cnr 'Alara K' 2001 52413 dwt dely Longkou 18/22
October 10/12 months trading redel worldwide approx $69000 daily - Hanjin
'Global Ocean' 1997 45600 dwt dely Rio Grande prompt trip via Argentina
redel Continent approx $60000 daily + approx $900000 - The Rice Co 'Noa'
1985 43590 dwt dely Canakkale 27Oct/5 Nov min 2.5/max 4 months trading
redel Atlantic $55000 daily - Oldendorff 'Oluja' 1996 42584 dwt dely
Malaysia spot trip via South-East Asia redel China $58000 daily - North
China Shipping

ORE
'NCS TBN' 180000/10 Saldanha Bay/Qingdao 1/5 Nov $62.00 fio scale/30000sc -
cnr

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 16/10/07

The Daily Fixtures Report - 16/10/2007
-------------------------

BDI 10748 (DOWN 8)
BCI 15361 (DOWN 102)
BPI 10930 (DOWN 45)
BSI 6678 (UP 60)
BHSI 3079 (UP 59)

NOTE:
Last published BDTI 854 (UP 10) BCTI 769 (UP 6)

TIMECHARTER

'Cetragpa TBN' newbuilding 180000 dwt dely ex yard Imabari 2011 10 years
trading redel worldwide $37000 daily - Korea Line 'Kleimar-Navios TBN'
newbuilding 180000 dwt dely ex yard Daewoo Sept/Oct 2009 5 years trading
redel worldwide $59000 daily - Korea Line 'Front Breaker' obo 1991 169178
dwt dely retro Bayuquan 24 Sept trip via Brazil redel China $159500 daily
- cnr - 'Bic Clare' ore/oiler 1992 103203 dwt dely Qingdao 20/30 Dec 11/13
months trading redel worldwide $95000 daily - Deiulemar 'Anthemis' 2004
76200 dwt dely Hong Kong 1/5 Nov 11/13 months trading redel worldwide
$80000 daily - Pioneer Navigation - 'Archon' Bunge relet 2001 75121 dwt
dely Tarragona 2 laden legs redetl Atlantic $91500 daily - CTP - 'North
Friendship' 1999 74732 dwt dely Sines 25/31 Oct trip via Ponta Da Madeira
redel Spain $89000 daily - Bunge 'Heng Shan Hai' 1998 72731 dwt dely
Ijmuiden 1/10 Nov trip via Brazil redel Singapore-Japan rge $89000 daily -
Noble 'Juno Island' 1997 71400 dwt dely retro Singapore 13 Oct period up to
Dec/Mar 2008 redel worldwide $86000 daily - Cargill 'SD Victory' 1986 69584
dwt dely Nantong 15/20 Oct trip via NoPac redel Singapore-Japan rge $78500
daily - Dreyfus 'SD Glory' 1987 68634 dwt dely El Ferrol 24/27 Oct 1/2
laden legs redel Atlantic $79000 daily - CTP 'Brave JL' 1984 65451 dwt dely
Inchon 1/10 Nov trip via Rizhao redel Spain int Valencia $64000 daily -
Atlas Bulk Shipping 'Tomahawk' 2007 58500 dwt dely Rizhao spot trip via
Nopac redel Singapore-Japan $71000 daily - cnr 'Talisman' MUR relet 2006
56019 dwt dely Huangpu 19/21 October trip via Australia redel
Singapore-Japan $72500 daily - Pacbasin 'Yasa Ilhan' 2007 55518 dwt dely
Xingang 16/19 October trip via Nopac redel Singapore-Japan $73500 daily -
Mitsubishi 'Port Nelson' 2001 53553 dwt dely Cristobal 29/31 October 5/7
months trading redel worldwide $77000 daily - Daeyang 'Thor Integrity' 2001
52117 dwt dely worldwide Dec 07/Jan 08 17/19 months trading redel worldwide
approx $61500 daily - Armada 'Channel Ranger' 1995 43108 dwt dely Douala 15
Oct trip via Brazil redel Red Sea $65000 daily - STX Pan Ocean (fixed last
week) 'B.India' 1983 41427 dwt dely Varna 1/10 November 2 laden legs redel
Atlantic $50000 daily - cnr 'Steel Glory' Safbulk relet 1984 39300 dwt dely
dop Beira 12/15 October trip via South Africa redel Continent $50000 daily -
IVS 'Filia' 1996 27908 dwt dely Ciwandan 20/25 Oct trip via West Australia
redel Taiwan approx $48500 daily - cnr 'Pioneer Trader' 1980 17159 dwt dely
Haiti prompt trip via St Lawrence River redel Turkey $28000 daily - cnr

ORE

'Alpha Glory' Atlas Bulk Shipping relet 1999 70000/10 Tubarao/Ghent 27
Oct/10 Nov $48.50 fio 5 days sc - Dreyfus

THE BALTIC DRY INDEX 17/10/07

The Daily Fixtures Report - 17/10/2007
-------------------------

BDI 10724 DOWN 24
BCI 15272 DOWN 89
BPI 10869 DOWN 61
BSI 6716 UP 38
BHSI 3109 UP 30

TIMECHARTER
'Brave TBN' newbuilding 180000 dwt dely ex yard Daewoo Dec 2009/Jan 2010 5
years trading redel worldwide $59850 daily - Daewoo 'Northgate' 1989 179421
dwt dely Beilun 17/19 Oct trip via Australia or San Nicolas redel China
$180000 daily - cnr 'Genco London' 2007 177852 dwt dely N.China in d/c ppt
trip via West Australia redel China $184000 daily - BHP Billiton - 'Bocimar
TBN' 175000 dwt SWS type dely Worldwide Jan/June 2009 5 years trading redel
worldwide $57000 daily - Korea Line 'Anangel Dynasty' Glory Wealth relet
1999 171101 dwt dely Worldwide May/June
2008 5 years trading redel worldwide $80000 daily - Pacific King 'Martzoukos
A' 1995 161175 dwt dely South Korea end Oct 4/6 months trading redel
worldwide $170000 daily - Constellation 'Betis' Transbulk relet 2004 76801
dwt dely Portbury 26 Oct/4 Nov trip via Murmansk redel UKC $75000 daily -
Transfield 'Loch Alyn' relet 2005 75744 dwt dely Taichung 25/27 Oct trip
via Australia redel China $95000 daily - BHP Billiton 'Imperial' Navios
relet 2007 75510 dwt dely S.Korea 19/21 Oct trip via Australia redel
Singapore-Japan rge $86000 daily - GMI 'Belmonte' 2007 75395 dwt dely
Antwerp 25/30 Oct trip via Murmansk redel UKC $86500 daily - cnr
'Archon' Bunge relet 2001 75121 dwt - $91500 daily redel Atlantic
no Far East option with 1/3 Nov dely>
'F.D. Salvatore Pollo' 2007 74500 dwt dely Black Sea 20/30 Oct 2/3 laden
legs redel worldwide $86000 daily - Aquavita - 'Tian Tong Feng' 2001 74275
dwt dely retro Gibraltar 15 Oct trip via US Gulf redel Far East $87500
daily - Wilmar 'Calm Seas' 1999 74047 dwt dely Worldwide Jan/Mar 2008 21/23
months trading redel worldwide $67000 daily - Yangming 'Shen Nong Feng' 2002
73978 dwt dely Constanza 22/27 Oct trip via Black Sea redel
Singapore-Japan rge $90000 daily - Aquavita 'Alpha Future' Oldendorff relet
1999 72893 dwt dely Hamburg 22/24 Oct trip via Baltic redel UKC $86500
daily - Eitzen Bulk Carriers 'Vogetrader' 1996 72195 dwt dely PMO 29 Oct/3
Nov trip via WC India redel Singapore-Japan rge $84500 daily - cnr
'Shenneng 1' 1993 70181 dwt dely Qinzhou 27/30 Oct trip via EC Kalimantan
redel Japan $85000 dialy - 'K' Line 'Mass Merit' 1993 69620 dwt dely Point
Comfort 5/15 Nov trip via US Gulf & Egypt redel Cape Passero $82000 daily -
NNC - 'President G' Daebo relet 1988 69347 dwt dely Taean 1/5 Nov period up
to Feb/Mar 2008 redel worldwide $87000 daily - European chrtr 'Velos' 1991
65702 dwt dely retro Cape Passero 11 Oct trip via US Gulf & Iraq redel PMO
$82000 daily - cnr 'Georgia' 1982 63300 dwt dely Qingdao 16/20 Oct trip
via NoPac int grain or sulphur redel China $74000 daily - Noble 'Josco
Yangzhou' 2005 55621 dwt dely Navlakhi 21/23 October trip redel China
$68000 daily - North China Shipping 'Tai Hunter' 2007 55000 dwt dely ex
Yard Oshima December 2007 12 months trading redel worldwide $71750 daily -
Parkroad 'Medi Nagasaki' 2003 53098 dwt dely South China spot trip via
South-East Asia redel Singapore-Japan $73000 daily - cnr 'Lepta Galaxy' 2002
52378 dwt dely Port Harcourt 21/26 October trip via East Coast South
America if redel South China $71500 daily if redel North China $74000 daily
- Wilmar 'Kaity L' 2003 50457 dwt dely Kohsichang 20/25 October 90/115 days
trading redel Singapore-Japan $75000 daily - WBC - 'Pacific Scorpio' 1997
49061 dwt dely Lome 25/27 October trip via East Coast South America redel
Singapore-Japan $69000 daily - Wilmar 'Star Sea Cosmos' 2000 48893 dwt dely
Prai 23/25 October trip via Australia redel China $73000 daily - Sinoeast
'Yangtze River' 1998 44114 dwt dely Gibraltar spot trip via Casablanca
redel India approx $65000 daily - Wamopl

COAL
'Iron Knight' 2004 60000/10 Mobile/Swinoujscie 14/20 Oct $58.00 fio
25000sc/15000sx - Mittal Shipping

The Baltic Dry Index as of 10.oct.07

Subject: index as of 10.oct.07

Daily Summary of Baltic Exchange Dry Indices

10 October 2007

Baltic Exchange Dry Index TM 10218 (UP 358)

Baltic Exchange Capesize Index TM 14958 (UP 570)

Baltic Exchange Panamax Index TM 10277 (UP 431)

Baltic Exchange Supramax Index TM 6144 (UP 166)

Baltic Exchange Handysize Index TM 2892 (UP 35)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $179030 (UP 6842)

BPI Average of the T/C routes $83219 (UP 3519)

BSI Average of the T/C routes $64247 (UP 1742)

BHSI Average of the T/C routes $42344 (UP 507)

Baltic Exchange Capesize Index 14958 (UP 570)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 46.314 1.082

C3 150000mt Tubarao - Beilun/Baoshan 15 85.646 3.396

C4 150000mt Richards Bay - Rotterdam 5 49.591 1.046

C5 150000mt W Australia - Beilun/Baoshan 15 36.327 1.486

C7 150000mt Bolivar - Rotterdam 5 47.600 1.227

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 184455 5955

C9_03 172000mt Continent/Mediterranean trip Far East 5 224667 8542

C10_03 172000mt Pacific RV 20 178708 7500

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 128292 5375

C12 150000mt Gladstone - Rotterdam 10 60.250 3.800

Average of the T/C Routes 179030 6842

Baltic Exchange Panamax Index 10277 (UP 431)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 80038 2398

P2A_03 74000mt SKAW-GIB/FAR EAST 25 83700 2811

P3A_03 74000mt Japan-SK/Pacific/RV 25 86821 4933

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 82316 3933

Average of the T/C Routes 83219 3519

Baltic Exchange Supramax Index 6144 (UP 166)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62000 642

S1B Canakkale Trip Far East 12.5 63146 353

S2 Japan - SK / NOPAC or Australia rv 25 65054 3081

S3 Japan - SK Trip Gib - Skaw range 25 64461 2323

S4A US Gulf - Skaw-Passero 12.5 86480 1794

S4B Skaw-Passero - US Gulf 12.5 43318 333

Average of the T/C Routes 64247 1742

Baltic Exchange Handysize Index 2892 (UP 35)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 32414 414

HS2 Skaw - Passero trip Boston - Galveston 12.5 33021 414

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 53056 723

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 55722 907

HS5 SE Asia trip via Australia to Singapore - Japan 25 41929 429

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 40339 368

Average of the T/C Routes 42344 507

THE BALTIC DRY INDEX THE DAILY FIXTURES REPORT 10/10/07

The Daily Fixtures Report - 10/10/2007

BDI 10218 UP 358
BCI 14958 UP 570
BPI 10277 UP 431
BSI 6144 UP 166
BHSI 2892 UP 35

TIMECHARTER
'China Venture' 2005 177808 dwt  dely Immingham 27/28 Oct  trip via Brazil redel
Far East $227000 daily - STX Pan Ocean
'Cape Saturn' Armada relet 2003 175773 dwt  dely Continent mid Dec balance of
period 17 Oct-2 Dec 2008 redel worldwide $160000 daily - Kleimar
'CHS Magnificence' 2006 173541 dwt  dely Shanghai 25/27 Oct  trip via West
Australia redel China $179000 daily - BHP Billiton
'Tianronghai' Bunge relet 2000 172000 dwt  dely Caofeidian 20 Oct/5 Nov balance
of period Apr/May redel worldwide $162500 daily - Morgan Stanley
'Manasota' 2004 171061 dwt  dely Wakayama 13/15 Oct  trip via West Australia
redel China $166000 daily - Pacific Bulk
'Lowlands Beilun' 1999 170162 dwt  dely China end Nov 1 years trading redel
worldwide $146000 daily - Oldendorff
'Maria A.Angelicoussi' Transfield relet 2001 169163 dwt  dely Qingdao spot  trip
via Richards Bay redel Rotterdam $120000 daily - Swiss Marine
'Sakonnet' obo 1993 79915 dwt  dely Rotterdam 16/19 Oct  trip via Brazil redel
China $83000 daily - Noble
'Rip Hudner' obo 1994 79915 dwt  dely Portbury 8/16 Oct  trip via Brazil redel
China $83000 daily - Glory Wealth
'Tai Promotion' 2004 77834 dwt  dely Worldwide Nov/Dec 2 years trading redel
worldwide $65000 daily - STX Pan Ocean
'Perla Bulker' 2007 75949 dwt  dely Qingdao 15/20 Oct 4/5 months trading redel
worldwide $89000 daily - Morgan Stanley
'Perla Bulker' Morgan Stanley relet 2007 75949 dwt  dely Qingdao 15/20 Oct 4/5
months trading redel worldwide $91750 daily - Cargill
'Nord Orion' 2006 75318 dwt  dely Tarragona 15 Oct/15 Nov 14/16 months trading
redel worldwide $76000 daily - STX Pan Ocean
'Ecostar G.O' 2007 75000 dwt  dely ex yard Hudong 25/28 Oct 4/6 months trading
redel worldwide $87000 daily - Morgan Stanley
'Little Prince' 2001 74133 dwt  dely Las Palmas 13/18 Oct balance of period 1/20
Feb 2008 redel worldwide $87000 daily - Cargill - 
'Carl Mesem' 1999 73965 dwt  dely Far East Nov 12/13 months trading redel
worldwide $78000 daily - cnr
'Szare Szeregi' 1991 73505 dwt  dely Yonghung 15/20 Oct 5/7 months trading redel
worldwide $78000 daily - cnr
'Fearless I' 1997 73427 dwt  dely Porto Torres ppt  trip via EC South America
redel Spain $77000 daily - Transgrain
'C.Journey' 1995 73095 dwt  dely Antwerp 22/24 Oct 3/5 months trading redel
worldwide $84000 daily - GMI
'Iron Man' 1997 72861 dwt  dely Xiuyu 16/20 Oct 45/50 days redel worldwide
$77000 daily - Norden
'Iron Man' 1997 72861 dwt  dely Worldwide Nov/Dec 12/14 months trading redel
worldwide $74000 daily - STX Pan Ocean
'Alpha Effort' 1999 72844 dwt  dely Hong Kong 15/18 Oct 5/7 months trading redel
worldwide $90000 daily - Bunge
'Xanadu' 1999 72270 dwt  dely Shanghai 15/17 Oct  trip via NoPac redel Far East
int ferts $87000 daily - STX Pan Ocean
'Maratha Messenger' Navios relet 1995 71252 dwt  dely China 15 Nov/31 Dec 11/13
months trading redel worldwide $70500 daily - STX Pan Ocean - 
'Double Fortune' 1997 69118 dwt  dely Muroran 18/21 Oct  trip via NoPac redel
Singapore-Japan rge $87500 daily - Noble
'Ilse' 1982 65239 dwt  dely Montoir prompt 1 transatlantic round voyage $60500
daily - Dreyfus
'Azure' 1982 64200 dwt  dely Los Angeles 22/25 Oct  trip via NoPac redel Far
East $70000 daily + $1.2 million bb - Sangamon
'Consolidator' 2007 58000 dwt  dely Houston 23/27 October  trip via USGulf redel
India $95000 daily - cnr
'Medi Chennai' 2005 55862 dwt  dely Tema prompt trip via Brazil redel Saldanha
Bay $65000 daily - cnr (fixed recently)
'Orient Phoenix' 2007 55500 dwt  dely Xingang 17/19 October  trip redel West
Africa $67000 daily - Cargill
'Ermis' 2004 52800 dwt  dely Mizushima spot  trip via Nopac redel
Singapore-Japan $65000 daily - KLC - 
'Ocean Prince' 2002 52475 dwt  dely Kohsichang 18/21 October  trip via Arabian
Gulf redel PMO $75000 daily - cnr
'F.Duckling' 2000 52434 dwt  dely Far East 25 October/10 November 12 months
trading redel worldwide $62500 - Chinatex
'Flora' 1993 52370 dwt  dely Tarragona spot trip via USGulf redel eastern Med
$56500 daily - Cargill
'VOC Gallant' 2002 51215 dwt  dely West Africa 1/15 November balance period
until September 2008 redel worldwide $66000 daily - cnr
'Desert Hawk' 1999 50327 dwt  dely worldwide Jan/March 2008 2 years trading
redel worldwide $53000 daily - Bluefield
'Marybelle' 1987 42552 dwt  dely Gibraltar spot 5/7 months trading redel
worldwide $50500 daily - Armada

 

The Baltic Dry Index T/C & Daily Panamax Report 9th October 2007

Subject: T/C & Daily Panamax Report 9th October

Dry cargo fixture summary - 09 October 2007 ==========================

BDI Baltic Dry Index 9860 UP 195
BCI Baltic Capesize Index 14388 UP 378
BPI Baltic Panamax Index 9846 UP 176
BSI Baltic Supramax Index 5978 UP 78
BHSI Baltic Handysize Index 2857 UP 21

Timecharter
-----------
'Princess Katherine' obo 1986 164100 dwt dely Rotterdam spot trip via Brazil
redel China $172000 daily - Chinese chrtr

'Gina Iuliano' 1990 122829 dwt dely Pohang 22/24 Oct trip via Australia
redel Singapore-Japan rge $125000 daily - Constellation

'Pascha' 2006 82574 dwt dely Immingham 20/22 Oct trip via NC South America
redel Sines $80000 daily - Bocimar - <fixed 04/10>

'Iron Brooke' 2007 82191 dwt dely Piombino 15/18 Oct trip via Brazil redel
China $89000 daily - Noble

'Beijing 2008' Hanjin relet newbuilding 82190 dwt dely ex yard Japan 20
Oct/20 Nov 5/6 months trading redel worldwide $86000 daily - Daeyang

'Belo Horizonte' Five Oceans relet 2004 76801 dwt dely Xiamen 1/5 Nov abt
3/4 months trading redel worldwide $83500 daily - CTP

'Yusho Regulus' 2006 76598 dwt - <corrects name from previous report>

'Maritime Christine' 2004 76436 dwt dely Zhoushan 16/18 Oct abt 6 months
trading redel worldwide $82000 daily - cnr - <recent>

'Maritime Hareshio' 2006 75740 dwt dely retro Amsterdam 3 Oct trip via River
Plate redel Far East $79500 daily - Cargill

'Alabanda' 1995 74044 dwt dely Masinloc 13/14 Oct trip redel Japan $95000
daily - NYK

'Ocean Emperor' 1998 74002 dwt - <reported 08/10 the charterer is
Taipower>

'Spar Vega' 1995 73350 dwt dely retro Cape Passero 6 Oct trip via NC South
America redel Skaw-Cape Passero $75750 daily - Armada

'Pole' 1997 73049 dwt dely retro Ghent 7 Oct balance of period 1-28 Feb
2008 redel worldwide $77900 daily - Cargill

'Lansing' ex Baltia TMT relet 1996 73040 dwt dely Antwerp 9 Oct trip via
Brazil redel China int grain $74000 daily - Dong Lin - <fixed end of last
week>

'Pelagia' 1995 71741 dwt dely Worldwide Feb 2008 1 years trading redel
worldwide $70000 daily - Deiulemar

'Yun Tong Hai' 1990 68788 dwt dely Pipavav 20/26 Oct trip via WC India redel
China $72000 daily - cnr

'Lucky Viship' 1981 61754 dwt dely Goa spot trip via EC India redel China
$42000 daily - Seawin Shipping

'Lake Harumi' 2006 55500 dwt dely Karachi 14/16 October trip via India redel
China approx $65000 daily - Metchart

'Fortune Pearl' 1996 45585 dwt dely Tokuyama 11/12 October balance period
until Feb 2008 redel worlswide $61500 daily - Daewoo

'Eirini K' 1996 41712 dwt dely West Africa prompt trip via Conakry redel
Black Sea $51000 daily - Oldendorff

'Sea Mild' 1985 38888 dwt dely Bosphorus spot trip via Black Sea redel India
$45000 daily - Cosmotrade

'Mallika Naree' 1984 23386 dwt dely Piraeus spot trip redel Brazil $24750
daily - Solym Carriers

Coal
----
C.Harmony' CTM relet 1994 140000/10 Richards Bay/Rotterdam 15/30 Nov $50.00
fio scale/25000sc - Cargill