The Baltic Dry Index T/C & Daily Panamax Report 4th Octo

Dry cargo fixture summary - 04 October 2007 ==========================

BDI Baltic Dry Index 9513 DOWN 48
BCI Baltic Capesize Index 13678 DOWN 305
BPI Baltic Panamax Index 9614 UP 69
BSI Baltic Supramax Index 5803 UP 62
BHSI Baltic Handysize Index 2811 UP 12

Timecharter
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'Lowlands Sunrise' 2003 176000 dwt dely Passero 15/17 October trip via
Brazil redel China approx $190000 daily - Transfield

'CSK Beilun' 1999 172561 dwt dely Rizhao trip via West Australia redel
China $157000 daily - Rio Tinto

'Pierre LD' BHP-Billiton relet 2005 172000 dwt dely Dunkirk 20/25 Oct
trip via Brazil redel S China $185000 daily redel N China $189000 daily -
Noble

'Billion Trader 11' 2007 82014 dwt dely passing Rhodes 10/25 Oct
7/9 months trading redel worldwide $79000 daily - Cosco Europe

'Good Hope Max' 2005 76739 dwt dely Skaw mid Oct trip via St Lawrence
redel Japan $84000 daily - MOSK

'Red Lily' 2004 76606 dwt dely Aughinish 5/10 Oct trip via St Lawrence and
Eregli redel passing Cape Passero $79000 daily - AWB

'Mishima' K-Line relet 2002 76598 dwt dely Porto Vesme 8/10 Oct trip via
east coast South America redel Skaw-Passero range $76000 daily - Cargill

'Atlantic Breeze' 2004 76267 dwt dely Lanshan 8/10 Oct trip via East
Australia redel Japan $80000 daily - KLine

'Peppino D'Amato' 2005 75698 dwt dely worldwide 20 Oct/10 Nov 1 years
trading redel worldwide $75000 daily - cnr

'Star of Nippon' 2004 75611 dwt dely worldwide Dec/Feb 2 years trading
redel worldwide $62000 daily - cnr

'Yasa Unity' 2006 75580 dwt dely Praia Mole 15/20 Oct trip via east coast
South America redel Far East $78000 daily + $1.4 million bb - CSE

'Angelic Power' 2002 74759 dwt dely Constanza prompt trip via Black Sea
redel Singapore-Japan range $75000 daily - Richstone

'Atlantic' 1996 73565 dwt dely Shekou 9/11 Oct trip via Indonesia redel
Med $80000 daily - EDF

'Far Eastern Silo' 1990 69338 dwt dely retroactive sailing Zhoushan 27
Sept 3/5 months trading redel worldwide $73000 daily - Swiss Marine

'Epiphana' 1995 68591 dwt dely Kushiro 8/11 Oct trip via Nopac redel
Singapore-Japan range $77500 daily - cnr

'Sea Ilex' 1991 62873 dwt dely Stade 8/10 Oct 1 Transatlantic round voyage
$66000 daily - Italian chrtrs

'Maritime Newanda' 2005 55820 dwt dely worldwide Jan 2008 2 years trading
redel worldwide $53000 daily - cnr

'Vega Eternity' 2002 52514 dwt dely Fangcheng spot trip via Kalimantan
redel East Coast India $67000 daily - Armada

'Harrier' 2001 50296 dwt dely Mumbai 11/13 October trip redel China
$54000 daily - Noble

'Jin Rong' 2000 50236 dwt dely USGulf 7/9 October trip redel
Singapore-Japan $69000 daily - Korean charterer

'Aetos' 2001 48893 dwt dely Karachi 3/10 October 1 year trading redel
worldwide $51500 daily - Eitzen - <corrects period and rate from report
01/10>

'Tai Shan Hai' 1996 47698 dwt dely Surabaya 14/16 October trip via
Dampier redel Australia redel Indonesia $59000 daily - Armada

'Darya Rani' 1996 47000 dwt dely East Coast India spot 4/6 months trading
redel worldwide approx $60000 daily - Western Bulkcarriers

'Pretty Flourish' 1997 46841 dwt dely Xingang 9/11 October trip via SE
Asia redel China intention Nickel Ore $62500 daily - cnr

'Ming Hai' 1996 45593 dwt dely Ningbo 11/13 October trip via Indonesia
redel China $48000 daily - Armada

'Maha Deepa' 1985 45271 dwt dely Marmara spot trip redel Singapore-Japan
$49000 daily - cnr

'Lake Globe' 1994 43216 dwt dely Lanshan 5/10 October balance period until
Jan/Feb 2008 redel worldwide approx $57000 daily - cnr

'Normannia' 1997 42648 dwt dely Haldia 12/22 October 12 months trading
redel worldwide $51000 daily - Oldendorff

'SH Bright' 2006 29828 dwt dely Shibushi spot 2 laden legs redel
Singapore-Japan approx $44000 daily - Jebsens

ORE
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'Lowlands Phoenix' 160000/10 Guaiba/Dunkirk West + East 20/30 Oct $46.50
fio 7 day shinc - Arcelor-Mittal