The Baltic Dry index as of 1.nov.07

Daily Summary of Baltic Exchange Dry Indices

1 November 2007

Baltic Exchange Dry Index TM 10581 (DOWN 75)

Baltic Exchange Capesize Index TM 13988 (DOWN 90)

Baltic Exchange Panamax Index TM 11415 (DOWN 100)

Baltic Exchange Supramax Index TM 6897 (DOWN 52)

Baltic Exchange Handysize Index TM 3187 (DOWN 11)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $163563 (DOWN 1165)

BPI Average of the T/C routes $92552 (DOWN 810)

BSI Average of the T/C routes $72121 (DOWN 539)

BHSI Average of the T/C routes $46743 (DOWN 137)

Baltic Exchange Capesize Index 13988 (DOWN 90)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 43.709 -0.286

C3 150000mt Tubarao - Beilun/Baoshan 15 83.825 -0.133

C4 150000mt Richards Bay - Rotterdam 5 45.359 -1.436

C5 150000mt W Australia - Beilun/Baoshan 15 35.241 -0.136

C7 150000mt Bolivar - Rotterdam 5 44.982 -0.232

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 161682 -773

C9_03 172000mt Continent/Mediterranean trip Far East 5 211208 -1042

C10_03 172000mt Pacific RV 20 160688 -937

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 120675 -1908

C12 150000mt Gladstone - Rotterdam 10 61.473 -0.595

Average of the T/C Routes 163563 -1165

Baltic Exchange Panamax Index 11415 (DOWN 100)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 85145 -581

P2A_03 74000mt SKAW-GIB/FAR EAST 25 89987 -861

P3A_03 74000mt Japan-SK/Pacific/RV 25 97688 -1014

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 97389 -782

Average of the T/C Routes 92552 -810

Baltic Exchange Supramax Index 6897 (DOWN 52)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 71339 -429

S1B Canakkale Trip Far East 12.5 66392 -195

S2 Japan - SK / NOPAC or Australia rv 25 74454 -700

S3 Japan - SK Trip Gib - Skaw range 25 74277 -700

S4A US Gulf - Skaw-Passero 12.5 93845 -642

S4B Skaw-Passero - US Gulf 12.5 47932 -248

Average of the T/C Routes 72121 -539

Baltic Exchange Handysize Index 3187 (DOWN 11)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 35050 -243

HS2 Skaw - Passero trip Boston - Galveston 12.5 34717 -240

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 62779 -221

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 63613 -277

HS5 SE Asia trip via Australia to Singapore - Japan 25 45296 -186

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 43596 128

Average of the T/C Routes 46743 -137