The Baltic Dry index as of 3.oct.07

Daily Summary of Baltic Exchange Dry Indices

3 October 2007

Baltic Exchange Dry Index TM 9561 (DOWN 5)

Baltic Exchange Capesize Index TM 13983 (DOWN 114)

Baltic Exchange Panamax Index TM 9545 (UP 39)

Baltic Exchange Supramax Index TM 5741 (UP 48)

Baltic Exchange Handysize Index TM 2799 (UP 10)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $165698 (DOWN 1784)

BPI Average of the T/C routes $77245 (UP 317)

BSI Average of the T/C routes $60028 (UP 499)

BHSI Average of the T/C routes $40968 (UP 162)

Baltic Exchange Capesize Index 13983 (DOWN 114)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 44.091 -0.209

C3 150000mt Tubarao - Beilun/Baoshan 15 78.877 -0.641

C4 150000mt Richards Bay - Rotterdam 5 43.800 -0.295

C5 150000mt W Australia - Beilun/Baoshan 15 34.514 -0.245

C7 150000mt Bolivar - Rotterdam 5 45.359 -0.255

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 172927 -1255

C9_03 172000mt Continent/Mediterranean trip Far East 5 200000 -3422

C10_03 172000mt Pacific RV 20 170773 -1498

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 119091 -961

C12 150000mt Gladstone - Rotterdam 10 54.675 -0.340

Average of the T/C Routes 165698 -1784

Baltic Exchange Panamax Index 9545 (UP 39)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 76145 274

P2A_03 74000mt SKAW-GIB/FAR EAST 25 78735 532

P3A_03 74000mt Japan-SK/Pacific/RV 25 78855 163

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 75245 298

Average of the T/C Routes 77245 317

Baltic Exchange Supramax Index 5741 (UP 48)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 59491 155

S1B Canakkale Trip Far East 12.5 61902 135

S2 Japan - SK / NOPAC or Australia rv 25 60181 389

S3 Japan - SK Trip Gib - Skaw range 25 60189 698

S4A US Gulf - Skaw-Passero 12.5 75848 1363

S4B Skaw-Passero - US Gulf 12.5 42245 165

Average of the T/C Routes 60028 499

Baltic Exchange Handysize Index 2799 (UP 10)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 31586 0

HS2 Skaw - Passero trip Boston - Galveston 12.5 32357 7

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 50967 234

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 53345 200

HS5 SE Asia trip via Australia to Singapore - Japan 25 40550 218

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 39193 207

Average of the T/C Routes 40968 162