Daily Summary of Baltic Exchange Dry Indices 13 February 2008

Baltic Exchange Dry Index TM 6965 (UP 253)

Baltic Exchange Capesize Index TM 10415 (UP 388)

Baltic Exchange Panamax Index TM 6752 (UP 276)

Baltic Exchange Supramax Index TM 4166 (UP 114)

Baltic Exchange Handysize Index TM 2027 (UP 71)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI  Average of the T/C routes $119146 (UP 4374)

BPI  Average of the T/C routes $54215 (UP 2215)

BSI  Average of the T/C routes $43560 (UP 1187)

BHSI Average of the T/C routes $29817 (UP 1113

Baltic Exchange Capesize Index     10415     (UP 388)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 29.991 0.591

C3 150000mt Tubarao - Beilun/Baoshan 15 64.229 1.000

C4 150000mt Richards Bay - Rotterdam 5 33.273 0.591

C5 150000mt W Australia - Beilun/Baoshan 15 27.886 1.368

C7 150000mt Bolivar - Rotterdam 5 31.064 0.605

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 106773 1409

C9_03 172000mt Continent/Mediterranean trip Far East 5 159639 2373

C10_03 172000mt Pacific RV 20 128923 9923

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 81250 3792

C12 150000mt Gladstone - Rotterdam 10 44.423 0.950

Average of the T/C Routes 119146 4374

Baltic Exchange Panamax Index     6752     (UP 276)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 63905 2962

P2A_03 74000mt SKAW-GIB/FAR EAST 25 73833 2143

P3A_03 74000mt Japan-SK/Pacific/RV 25 42477 1678

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 36645 2077

Average of the T/C Routes 54215 2215

Baltic Exchange Supramax Index     4166     (UP 114)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 57530 391

S1B Canakkale Trip Far East 12.5 59308 406

S2 Japan - SK / NOPAC or Australia rv 25 36152 2117

S3 Japan - SK Trip Gib - Skaw range 25 31432 1477

S4A US Gulf - Skaw-Passero 12.5 68908 1198

S4B Skaw-Passero - US Gulf 12.5 27568 313

Average of the T/C Routes 43560 1187

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

S5 W.Africa via ECSA to FarEast 0 55714 723

S6 Jpn-SK trip via Aus/India 0 39227 1627

S7 EC India - China 0 54338 1657

Baltic Exchange Handysize Index     2027     (UP 71)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 19843 129

HS2 Skaw - Passero trip Boston - Galveston 12.5 20029 158

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44711 200

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 45810 160

HS5 SE Asia trip via Australia to Singapore - Japan 25 27143 1922

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 26929 2208

Average of the T/C Routes 29817 1113