The Baltic Dry Index T/C 23.nov.07

Dry cargo fixture summary - 23 November 2007

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BDI Baltic Dry Index 10148 DOWN 180

BCI Baltic Capesize Index 14873 DOWN 212

BPI Baltic Panamax Index 9997 DOWN 180

BSI Baltic Supramax Index 6205 DOWN 177

BHSI Baltic Handysize Index 2959 DOWN 37

Timecharter

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'Bulk Hong Kong' Transfield relet 2006 180230 dwt - <reported 22/11 the

rate should read $167000 daily if S.China option $170000 daily N.China>

'Tian Bao Hai' 2004 175000 dwt dely China 25/30 Nov trip via Tanjung Bara

& Hadera redel Cape Passero $115000 daily - SK Shipping

'Gorius' BHP Billiton relet 2004 171320 dwt dely Port Kembla 13/14 Dec

trip via Esperance redel China $170000 daily + $3.00 million bb -

Sinoeast

'Occam's Razor' 1981 144348 dwt - <redel should read China>

'Eurydice D' 1985 140532 dwt dely Qingdao 26/30 Nov trip via EC Australia

redel S.Korea $135000 daily - Constellation

'Filomena L' 2003 76629 dwt dely Zhanjiagang 23/25 Nov trip via NoPac

redel Singapore-Japan rge $75000 daily - Dreyfus

'Laconia' 1987 68158 dwt dely Lanshan 23/25 Nov trip redel Skaw-Cape

Passero $63000 daily - Cargill

'Stoikos' Cargill relet 1985 67359 dwt dely PMO 28/30 Nov trip via WC

India redel China $57000 daily - Brownstone

'Port Mouton' 2006 53299 dwt dely Caofedian 25/26 November trip via Cebu

redel Teneriffe $53000 daily - Oldendorff

'Madonna 3' 2007 53000 dwt dely Illigan spot trip via Indonesia redel

Pakistan $65000 daily - Shadab

'Christos' 1983 41502 dwt dely Tartous 28 Nov/5 Dec 2 laden legs redel

Atlantic $52000 daily - Oldendorff

'Sea Mild' 1985 38888 dwt dely Mumbai 25/29 November trip redel China

$35000 daily - Uniwell

'Giorgis Milas' 1984 37725 dwt dely Egypt Med 1/5 Dec 2/3 laden legs

redel Atlantic $45000 daily - Custodia

'Split' 1982 28000 dwt dely Constanza 26 Nov/2 Dec trip redel USGulf

$27000 daily - cnr

Ore

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'Mineral Kyoto' 2004 160000/10 Dampier/Qingdao 10/20 Dec $35.50 fio

scale/25000sc - Rio Tinto