The Baltic Dry Index T/C & Daily Panamax Report 3rd October

Subject: T/C & Daily Panamax Report 3rd October

Dry cargo fixture summary - 03 October 2007 ==========================

BDI Baltic Dry Index 9561 DOWN 5
BCI Baltic Capesize Index 13983 DOWN 114
BPI Baltic Panamax Index 9545 UP 39
BSI Baltic Supramax Index 5741 UP 48
BHSI Baltic Handysize Index 2799 UP 10

Timecharter
-----------
'Nord Sun' 2004 76830 dwt dely Valencia prompt trip via Orinoco redel China
$85000 daily - Worldlink

'Oinoussian Lady' 2004 76704 dwt dely Gladstone 17/22 Oct trip redel Japan
$81000 daily + approx $1 million bb - MOSK

'Medi Taipei' 2003 76633 dwt dely Chiba prompt trip via Nopac redel Far East
$78000 daily - Dreyfus

'YM Virtue' 2003 76610 dwt dely Matsuura 6/10 Oct trip via Australia redel
Taiwan approx $78000 daily - CSE

'Navios Orion' 2005 76602 dwt dely Zhanjiang spot 4/6 months trading redel
worldwide $80000 daily - Swiss Marine

'Crest Trader' 2006 76500 dwt dely Sepetiba 20/30 Oct trip via east coast
South America redel Singapore-Japan range $78000 daily + $1.5 million bb
- cnr

'Fujian' 1997 75339 dwt dely Nanao 7/8 Oct balance of period up to Aug 08
redel worldwide $75750 daily - Norden

'Spartia' BHPB relet 2000 75115 dwt dely passing Cape Passero prompt trip
via east coast South America redel Med $75750 daily - Cargill

'Clipper Emperor' 2000 74381 dwt dely Jorf Lasfar 5/10 Oct trip via Kamsar
redel Fos $85000 daily - Baumarine

'Alpha Future' CTP relet 1999 72893 dwt dely Continent end Oct period upto
Mar/Apr 08 redel worldwide $78500 daily - Oldendorff

'Fen Jin Hai' 1995 69877 dwt dely Tanjung Bara spot trip via West Australia
redel China $78500 daily - cnr

'Tai Happiness' 2004 52686 dwt dely Cartagena (Columbia Atlantic) 8/10
October trip via Aruba redel Greece $86000 daily - Bulk Trading

'Medi Cebu' 2002 52239 dwt dely Bataan 6/10 October trip redel West Africa
$68000 daily - Cargill

'Aegean Falcon' 2000 50296 dwt dely USGulf 13/17 October trip redel Japan
$77000 daily - Korean account

'Blue Seas' 1995 45654 dwt dely Far East November/December 2007 12 months
trading redel worldwide approx $51000 daily - Hanjin - <recent>

'Swift' 1983 36850 dwt dely Liverpool spot trip redel East Med $45000 daily
option redel Far East $46500 daily - EMR