Daily Summary of Baltic Exchange Dry Indices 25 February 2008

Baltic Exchange Dry Index TM 7296 (UP 109)

Baltic Exchange Capesize Index TM 10246 (UP 312)

Baltic Exchange Panamax Index TM 7060 (UP 49)

Baltic Exchange Supramax Index TM 4922 (No change)

Baltic Exchange Handysize Index TM 2242 (UP 5)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $117131 (UP 4263)

BPI   Average of the T/C routes $56795 (UP 395)

BSI   Average of the T/C routes $51463 (DOWN 6)

BHSI  Average of the T/C routes $33179 (UP 71)

Baltic Exchange Capesize Index     10246     (UP 312)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 30.432 0.887

C3 150000mt Tubarao - Beilun/Baoshan 15 69.022 1.855

C4 150000mt Richards Bay - Rotterdam 5 31.305 0.919

C5 150000mt W Australia - Beilun/Baoshan 15 26.455 0.569

C7 150000mt Bolivar - Rotterdam 5 31.464 0.714

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 107455 4046

C9_03 172000mt Continent/Mediterranean trip Far East 5 166996 5626

C10_03 172000mt Pacific RV 20 118322 4630

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 75750 2750

C12 150000mt Gladstone - Rotterdam 10 43.088 0.570

Average of the T/C Routes 117131 4263

Baltic Exchange Panamax Index     7060     (UP 49)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 63560 298

P2A_03 74000mt SKAW-GIB/FAR EAST 25 73219 552

P3A_03 74000mt Japan-SK/Pacific/RV 25 50398 279

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 40005 452

Average of the T/C Routes 56795 395

Baltic Exchange Supramax Index     4922     (NO CHANGE)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 59800 123

S1B Canakkale Trip Far East 12.5 60558 -34

S2 Japan - SK / NOPAC or Australia rv 25 48458 -154

S3 Japan - SK Trip Gib - Skaw range 25 47045 -237

S4A US Gulf - Skaw-Passero 12.5 69553 25

S4B Skaw-Passero - US Gulf 12.5 30786 620

Average of the T/C Routes 51463 -6

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

S5 W.Africa via ECSA to FarEast 0 60055 296

S6 Jpn-SK trip via Aus/India 0 49580 0

S7 EC India - China 0 64096 2013  

Baltic Exchange Handysize Index     2242     (UP 5)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 20893 93

HS2 Skaw - Passero trip Boston - Galveston 12.5 21093 86

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 45461 139

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 46540 90

HS5 SE Asia trip via Australia to Singapore - Japan 25 33379 79

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 32343 0

Average of the T/C Routes 33179 71