THE BALTIC DRY INDEX T/C & Daily Panamax Report 26th Sep

Dry cargo fixture summary - 26 September 2007 ==========================

BDI Baltic Dry Index 9259 UP 44
BCI Baltic Capesize Index 13314 UP 128
BPI Baltic Panamax Index 9480 DOWN 8
BSI Baltic Supramax Index 5521 UP 15
BHSI Baltic Handysize Index 2738 UP 9

Timecharter
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'Leonidas Warrior' 1987 183000 dwt dely Far East 25/30 November 3/5 months
trading redel worldwide $120000 daily - Rio Tinto

'Castillo de Catoria' 2005 173587 dwt dely Luojing 1/5 Oct trip via
Australia redel Japan $150000 daily - MOSK (fixed recently)

'Cape Azalea' 1996 171846 dwt dely Mizushima 28/30 Sept trip via Richards
Bay redel Rotterdam $102500 daily first 55 days $150000 daily for balance
- BHP Billiton

'CHS Splendor' 2006 170000 dwt dely Qingdao 10/12 October trip via West
Australia redel China $157000 daily - BHP-Billiton

'Sanko Spark' 1996 150961 dwt dely South Japan 8/10 October 2 laden legs via
Arabian Gulf redel PMO $110000 daily - CTC

'Clipper Devon' 2005 82922 dwt dely San Ciprian 5/10 Oct trip via Brazil
redel Far East $80000 daily - Pioneer Metals

'Jin He' 2006 77250 dwt dely USGulf 15/25 Oct trip to Egypt redel Cape
Passero $75000 daily + $1.3 million bb - Windrose

'Marilena D'Amato' 2001 STX Pan Ocean London relet 74716 dwt dely Mundra
6/10 Oct balance of period about 18/19.5 months redel worldwide $66500 daily
- Oldendorff

'Gertrud Salamon' 2000 74078 dwt dely PMO early Oct trip via Richards Bay
redel UK $75000 daily - SSE

'Iran Bojnoord' 2005 73518 dwt dely Shanghai 5/15 Oct trip redel Continent
$76500 daily - North China Shipping

'New Leader' 1996 72073 dwt dely Nagoya spot trip via Nopac redel Far East
$73000 daily - Japanese charterer

'JBU Orient' 2006 52454 dwt dely worldwide November 2007 1 years trading
redel worldwide $58500 daily - Chinatex

'Sanko Supreme' 1999 50655 dwt dely USGulf 27/29 September 2 laden legs
redel Atlantic approx $60000 daily - ED&F Man Shipping

'African Impala' 1997 24111 dwt dely Murmansk spot trip via Sweden redel
Morocco $38000 daily - cnr

Ore
---
TBN 70000/10 Ponta Da Madeira/Dunkirk 5/14 Oct $39.00 fio 3 days/3 days
shinc - CVRD

Coal
----
'Sanko Oasis' 1995 150000/10 Richards Bay/Stignaes + Asnaes 1/15 November
$44.00 fio scale/25000 sc - Sasol