THE BALTIC DRY INDEX T/C & Daily Panamax Report 27th Sep

BDI Baltic Dry Index 9370 UP 111

BCI Baltic Capesize Index 13728 UP 414

BPI Baltic Panamax Index 9386 DOWN 94

BSI Baltic Supramax Index 5552 UP 31

BHSI Baltic Handysize Index 2760 UP 22

Timecharter

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'Jin Tai' 2004 173880 dwt dely Beilun 15/20 Oct trip via West Australia

redel China $165000 daily - BHP Billiton

'Pioneer' 2004 171861 dwt dely Caofedian 17/20 Oct trip via West

Australia redel China $156000 daily - BHP Billiton

'Star Zulu' 1996 170697 dwt dely China 10/15 Oct trip via West Australia

redel China $150000 daily - Cosco Qingdao

'C.Queen' 1994 151300 dwt dely Beilun 7/10 Oct trip via West Australia

redel China $136000 daily - Constellation

'Brisbane' 1995 151066 dwt dely China 11/13 Oct trip via Richards Bay

redel Skaw-Cape Passero $95000 daily 1st 55 days & $150000 daily

thereafter - Swiss Marine

'Samsara' 1995 150399 dwt dely Nantong 8/10 Oct trip via West Australia

redel China $138000 daily - Shourong

'Grand Ocean' 1990 149498 dwt dely retro Singapore 21 Sept trip via

Richards Bay redel Skaw-Cape Passero $92000 daily for 1st 55 days $130000

bb - Swiss Marine

'Filomena Lembo' 2006 82790 dwt dely PMO 6/10 Oct trip via WC India redel

China $80000 daily - cnr

'Maple Ridge' 2004 76633 dwt dely Kaohsiung 7/12 Oct trip via West

Australia redel China $80000 daily - Cosco Dalian

'Anthemis' 2004 76130 dwt dely China 10/30 Nov 11/13 months trading redel

worldwide $74000 daily - Panoceanic Shipholdings

'Danae' 2005 75439 dwt dely Nantong 9/11 Oct trtip via West Australia

redel China $76000 daily - Cosco Oceania

'Coal Pride' 1999 72493 dwt dely Philippines trip via Indonesia redel

Hong Kong $75000 daily - BHP Billiton

'Gran Markela' 1990 71733 dwt dely PMO 10/15 Oct balance of period Mar

2008 redel worldwide $74000 daily - Oldendorff

'Joyous Land' 1994 69283 dwt dely Cape Passero spot trip via Brazil redel

China $69000 daily - Glory Wealth

'Mass Merit' 1993 69230 dwt dely Ijmuiden 28 Sept/2 Oct 4/6 months

trading redel worldwide $75000 daily - D'Amato - <fixed 21/09>

'Santos Success' 1984 63621 dwt dely Taiwan 15/18 Oct trip via West

Australia redel China $58750 daily - Danzas

'KT Venture' 2007 55866 dwt dely Xingang spot 3/5 months trading redel

worldwide approx $63000 daily - Norden

'Dalior' 2005 55257 dwt dely Longkou 1/5 October trip via Korea redel

Atlantic $60000 daily - Cargill - <intention cement>

'Maria D' 2002 51514 dwt dely Newark 6/12 October trip via USGulf redel

Spain $72500 daily - Cargill

'Arran Trader' 2000 48220 dwt dely Zhanjiang 3/8 October 4/6 months

trading redel worldwide $61000 daily - BHP-Billiton

'Christos' 1983 41502 dwt dely Qingdao 28/29 September trip via North

China redel Med $46000 daily - China Ocean Transport

'Clipper Morning' 2002 27141 dwt dely Bejaia 10/15 Oct trip via Tunisia

redel Malaysia $35750 daily - PCL

Ore

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'TBN' 58000/10 bauxite Kamsar/San Cyprian ely Oct $31.00 fio

24000sc/15000sc - Cobelfret

Grain

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'Maria T.L' 1997 Strategic relet 37500/5 grain products 55cft Up River/UK

mid Oct $94.50 2 ports disch fio 10 total days limited D/As UK - Cefetra

BV Rotterdam