Daily Summary of Baltic Exchange Dry Indices

25 January 2008

Baltic Exchange Dry Index TM 5780 (DOWN 168)

Baltic Exchange Capesize Index TM 7202 (DOWN 150)

Baltic Exchange Panamax Index TM 5783 (DOWN 256)

Baltic Exchange Supramax Index TM 4129 (DOWN 84)

Baltic Exchange Handysize Index TM 2274 (DOWN 71)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI  Average of the T/C routes $79881 (DOWN 1348)

BPI  Average of the T/C routes $46515 (DOWN 2053)

BSI  Average of the T/C routes $43173 (DOWN 884)

BHSI Average of the T/C routes $33261 (DOWN 1047)

Baltic Exchange Capesize Index     7202     (DOWN 150)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 22.818 -0.441

C3 150000mt Tubarao - Beilun/Baoshan 15 50.688 0.605

C4 150000mt Richards Bay - Rotterdam 5 23.250 -0.250

C5 150000mt W Australia - Beilun/Baoshan 15 18.345 -0.587

C7 150000mt Bolivar - Rotterdam 5 23.723 -0.259

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 70000 1409

C9_03 172000mt Continent/Mediterranean trip Far East 5 120308 654

C10_03 172000mt Pacific RV 20 73923 -6000

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 55292 -1458

C12 150000mt Gladstone - Rotterdam 10 36.964 -0.536

Average of the T/C Routes 79881 -1348

Baltic Exchange Panamax Index     5783     (DOWN 256)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 52467 -3188

P2A_03 74000mt SKAW-GIB/FAR EAST 25 60276 -2260

P3A_03 74000mt Japan-SK/Pacific/RV 25 38580 -1352

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 34737 -1413

Average of the T/C Routes 46515 -2053

Baltic Exchange Supramax Index     4129     (DOWN 84)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62439 -966

S1B Canakkale Trip Far East 12.5 63590 -752

S2 Japan - SK / NOPAC or Australia rv 25 29092 -779

S3 Japan - SK Trip Gib - Skaw range 25 26423 -532

S4A US Gulf - Skaw-Passero 12.5 73040 -1485

S4B Skaw-Passero - US Gulf 12.5 35282 -1248

Average of the T/C Routes 43173 -884

The route(s) below do not form part of the index calculation

S5 W.Africa via ECSA to FarEast 0 60355 -1072

S6 Jpn-SK trip via Aus/India 0 29014 -513

S7 EC India - China 0 54633 -1696 

Baltic Exchange Handysize Index     2274     (DOWN 71)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 24536 -864

HS2 Skaw - Passero trip Boston - Galveston 12.5 24357 -750

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 53222 -1084

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 52405 -1145

HS5 SE Asia trip via Australia to Singapore - Japan 25 28036 -1071

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 27750 -1193

Average of the T/C Routes 33261 -1047