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