The Baltic Dry Index T/C & Daily Panamax Report 24th Oct

Subject: T/C & Daily Panamax Report 24th October

Dry cargo fixture summary - 24 October 2007 ==========================

BDI Baltic Dry Index 10984 UP 40
BCI Baltic Capesize Index 15487 DOWN 28
BPI Baltic Panamax Index 11257 UP 119
BSI Baltic Supramax Index 6872 UP 27
BHSI Baltic Handysize Index 3224 UP 18

Timecharter
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'Ina' 2003 176423 dwt dely Wakayama 27/28 October trip via West Australia
redel China $190000 daily - BHP-Billiton

'Mineral Tianjin' 2004 174000 dwt dely Qingdao trip via Richards Bay +
Denmark redel Skaw $130000 daily first 55 days and 190000 daily for balance
- Kleimar

'Lady Maria Luisa' 2007 76500 dwt dely Imabari spot trip via Queensland
redel Taiwan $98000 daily - cnr

'Maritime Lijang' 2006 76032 dwt dely Haldia 25/30 October trip via East
Coast India redel China $100000 daily - cnr

'Nordems' 2001 75253 dwt dely Worldwide February 2008 1 years trading redel
worldwide $78500 daily - Cosco

'Cinzia D'Amato' 2000 74716 dwt dely North China 29/31 October 4/5 months
trading redel worldwide $93000 daily - cnr

'Fortune Lady' 1998 74694 dwt dely Brindisi 5/20 Nov 3 years trading redel
worldwide approx $67000 daily - Parkroad

'Great Intelligence' 2000 74293 dwt dely Qingdao spot trip via Nopac redel
Singapore-Japan $90000 daily - Cargill

'Alabanda' 1995 74040 dwt dely Chiba 29 Oct/3 Nov trip via Nopac redel
Singapore-Japan $101000 daily - Cargill

'Sealuck 2' Eitzen relet 2004 55452 dwt dely Lianyungang 26/30 October trip
via Nopac redel Saudi Arabia approx $77500 daily - JKI

'D Duckling' 2001 52068 dwt dely Fangcheng 1/3 November trip redel West
Coast India $75000 daily - cnr

'VOC Galaxy' 2002 51201 dwt dely Paradip 26/28 October trip redel China
approx $75000 daily - cnr

'Clementine' 2004 50238 dwt dely Nagoya 28 Oct/2 Nov 4/5 months trading
redel worldwide approx $76000 daily - Eitzen

'Atlantica' 2001 50000 dwt dely Cochin 27/31 October trip redel China $70000
daily - Benemar