Daily Summary of Baltic Exchange Dry Indices 31 March 2008

Baltic Exchange Dry Index TM 8081 (UP 12)

Baltic Exchange Capesize Index TM 11993 (UP 178)

Baltic Exchange Panamax Index TM 7867 (DOWN 29)

Baltic Exchange Supramax Index TM 4827 (DOWN 89)

Baltic Exchange Handysize Index TM 2417 (DOWN 18)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $139739 (UP 2020)

BPI    Average of the T/C routes $63399 (DOWN 233)

BSI    Average of the T/C routes $50476 (DOWN 925)

BHSI  Average of the T/C routes $35428 (DOWN 328)

Baltic Exchange Capesize Index     11993     (UP 178)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 35.350 0.773

C3 150000mt Tubarao - Beilun/Baoshan 15 76.538 0.392

C4 150000mt Richards Bay - Rotterdam 5 39.659 0.068

C5 150000mt W Australia - Beilun/Baoshan 15 30.050 0.682

C7 150000mt Bolivar - Rotterdam 5 36.418 0.882

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 131636 2545

C9_03 172000mt Continent/Mediterranean trip Far East 5 190192 1307

C10_03 172000mt Pacific RV 20 140962 2270

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 96167 1959

C12 150000mt Gladstone - Rotterdam 10 50.845 0.572

Average of the T/C Routes 139739 2020

Baltic Exchange Panamax Index     7867     (DOWN 29)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 67441 -317

P2A_03 74000mt SKAW-GIB/FAR EAST 25 78218 -175

P3A_03 74000mt Japan-SK/Pacific/RV 25 59930 -213

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 48006 -230

Average of the T/C Routes 63399 -233

Baltic Exchange Supramax Index     4827     (DOWN 89)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62760 -105

S1B Canakkale Trip Far East 12.5 62141 -250

S2 Japan - SK / NOPAC or Australia rv 25 43392 -1910

S3 Japan - SK Trip Gib - Skaw range 25 41630 -1830

S4A US Gulf - Skaw-Passero 12.5 75470 605

S4B Skaw-Passero - US Gulf 12.5 33395 -170

Average of the T/C Routes 50476 -925

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

S5 W.Africa via ECSA to FarEast 0 67310 -828

S6 Jpn-SK trip via Aus/India 0 43705 -1859

S7 EC India - China 0 80333 -3209

Baltic Exchange Handysize Index     2417     (DOWN 18)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 26336 315

HS2 Skaw - Passero trip Boston - Galveston 12.5 26700 271

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 43111 -395

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 46995 -55

HS5 SE Asia trip via Australia to Singapore - Japan 25 35457 -693

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 34686 -685

Average of the T/C Routes 35428 -328

The Daily Fixtures Report - 31/03/2008

BDI  8081 UP   12
BCI 11993 UP  178
BPI  7867 DOWN 29
BSI  4827 DOWN 89
BHSI 2417 DOWN 18

TIMECHARTER
'Cape Mor' 1985 194468 dwt  dely Cape Passero 11/13 Apr  trip via Brazil redel Continent $100000 daily - Oldendorff 'Ocean Cygnus' 2006 176800 dwt  dely Qingdao 6/8 Apr  trip via West Australia redel China $145000 daily - BHP Billiton 'Nord-Kraft'  'K' Line relet 2000 171199 dwt  dely Zhoushan 8/10 Apr  trip via Australia redel China $140000 daily - cnr 'Kyla Fortune' Armada relet 2001 170296 dwt  dely Kwangyang 29/31 Mar balance of period 9 Sept/9 Oct redel worldwide $140000 daily - Swiss Marine 'Eurydice D' 1985 140532 dwt  dely Nantong 8/10 Apr  trip via EC Australia redel Singapore-Japan rge $86000 daily - C&MM 'Medi Sentosa' 2008 83690 dwt  dely Kaohsiung 31 Mar/6 Apr  trip via E.Australia redel Taiwan $63000 daily - U Ming 'Basil' 1983 76440 dwt  dely Brake 8/10 Apr  trip via US Gulf redel Eregli $61000 daily - Daeyang 'Century Star' 2003 75318 dwt  dely Pohang 8/10 Apr 6/8 months trading redel worldwide $70500 daily - Oldendorff 'Austin' 1995 75200 dwt  dely Antwerp 10/12 Apr 2 years trading redel worldwide $63000 daily - Skaarup Fortune 'Altair' 2001 74665 dwt  dely Lianyungang 3/5 Apr 2 laden legs 1st leg Australia/Brazil redel Skaw-Cape Passero $66500 daily - United 'Washington Trader' 2000 74228 dwt  dely Kure 1/7 Apr  via NoPac redel Singapore-Japan rge $62000 daily - cnr 'Maria Salamon' 2001 74117 dwt  dely Goa 15/20 Apr  trip redel Japan $78000 daily - PCL 'Willi Salamon' 2000 74005 dwt  dely Hong Kong 10/15 Apr 4/6 months trading redel worldwide $69000 daily - GMI
'Beauty Donor' 1998 73767 dwt      -
'Cumbria' 1994 69043 dwt  dely US Gulf 10/21 Apr  trip redel Far East $72000 daily + $1.2 million bb - cnr 'Trident Endeavour' 1990 68788 dwt  dely Piraeus 8/10 Apr  trip via Black Sea redel China int ore $84000 daily - Five Ocean 'Georgia' 1982 63308 dwt  dely Rotterdam 1/8 Apr  transatlantic round with grain redel Skaw-Cape Passero $57000 daily - cnr 'Vega I' 1982 63214 dwt  dely S.Brazil 25/27 Mar  trip redel Skaw-Cape Passero $55000 daily + $1.2 million bb - Louis Dreyfus - 'Irinikos' 1984 61809 dwt  dely Fos 29 Mar/5 Apr  trip via Kamsar redel Stade $50000 daily - Proline 'Pacific Victory' 2001 52394 dwt  dely wwr Mississippi River 10/14 April trip via Davant redel Morocco $85000 daily - Eitzen 'Crown Princess' 2005 52347 dwt  dely Kalimantan 5/10 April  trip redel India $36000 daily + $250000 bb - Clipper 'Courageous' 2005 52346 dwt  dely Thailand 5/7 April  trip redel India $44250 daily - Dooyang 'Thor Integrity' 2001 52117 dwt  dely Lianyungang spot  trip redel UKCont approx $46500 daily - cnr 'Atoyac' 1995 45642 dwt  dely Rizhao spot  trip via Indonesia redel Pakistan $40250 daily - Shadab 'Normania' 1997 42268 dwt  dely Port Harcourt 2/3 April  trip via East Coast South America redel Cont approx $43250 - Proline 'Med Dignity' 1984 41875 dwt  dely passing Gibraltar spot  trip via Liverpool redel Turkey $50000 daily - Norton 'Kanok Naree' 1985 33024 dwt  dely Belawan 5/12 Apr trip via south east Asia redel South Africa $32000 daily - Copenship

COAL
'C.March' Transfield relet 1995 150000/10 Roberts Bank/Kwangyang and/or Pohang
15/25 Apr $36.73 fio scale/50000sc - POSCO 'Lepta Galaxy' 2002 50000/5 coking coal Queensland/Visakhapatnam 20/30 Apr $56.00 fio option Hay Point or Gladstone $54.00 20000 load/10000 discharge
- VSP
'Port Maubert' 2007 or sub 50000/5 coking coal Queensland/Visakhapatnam 20/30 Apr $56.00 fio option Hay Point or Gladstone $54.00 20000 load/10000 discharge - VSP

Daily Summary of Baltic Exchange Dry Indices 28 March 2008

Baltic Exchange Dry Index TM 8069 (UP 185)

Baltic Exchange Capesize Index TM 11815 (UP 715)

Baltic Exchange Panamax Index TM 7896 (DOWN 13)

Baltic Exchange Supramax Index TM 4916 (DOWN 70)

Baltic Exchange Handysize Index TM 2435 (DOWN 12)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $137719 (UP 8345)

BPI    Average of the T/C routes $63632 (DOWN 112)

BSI    Average of the T/C routes $51401 (DOWN 739)

BHSI  Average of the T/C routes $35756 (DOWN 213)

Baltic Exchange Capesize Index     11815     (UP 715)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 34.577 1.368

C3 150000mt Tubarao - Beilun/Baoshan 15 76.146 2.208

C4 150000mt Richards Bay - Rotterdam 5 39.591 0.918

C5 150000mt W Australia - Beilun/Baoshan 15 29.368 2.441

C7 150000mt Bolivar - Rotterdam 5 35.536 1.086

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 129091 4273

C9_03 172000mt Continent/Mediterranean trip Far East 5 188885 7116

C10_03 172000mt Pacific RV 20 138692 17077

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 94208 4916

C12 150000mt Gladstone - Rotterdam 10 50.273 1.182

Average of the T/C Routes 137719 8345

Baltic Exchange Panamax Index     7896     (DOWN 13)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 67758 55

P2A_03 74000mt SKAW-GIB/FAR EAST 25 78393 93

P3A_03 74000mt Japan-SK/Pacific/RV 25 60143 -428

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 48236 -167

Average of the T/C Routes 63632 -112

Baltic Exchange Supramax Index     4916     (DOWN 70)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62865 62

S1B Canakkale Trip Far East 12.5 62391 -73

S2 Japan - SK / NOPAC or Australia rv 25 45302 -2113

S3 Japan - SK Trip Gib - Skaw range 25 43460 -1390

S4A US Gulf - Skaw-Passero 12.5 74865 1250

S4B Skaw-Passero - US Gulf 12.5 33565 -140

Average of the T/C Routes 51401 -739

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

S5 W.Africa via ECSA to FarEast 0 68138 -697

S6 Jpn-SK trip via Aus/India 0 45564 -1145

S7 EC India - China 0 83542 -2458

Baltic Exchange Handysize Index     2435     (DOWN 12)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 26021 285

HS2 Skaw - Passero trip Boston - Galveston 12.5 26429 293

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 43506 -466

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47050 -285

HS5 SE Asia trip via Australia to Singapore - Japan 25 36150 -457

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 35371 -308

Average of the T/C Routes 35756 -213

The Daily Fixtures Report - 28/03/2008

BDI  8069 UP  185
BCI 11815 UP  715
BPI  7896 DOWN 13
BSI  4916 DOWN 70
BHSI 2435 DOWN 12

TIMECHARTER
'Antonis Angelicoussis' Louis Dreyfus relet 2007 177932 dwt  dely Pohang
3/5 Apr
trip via Vancouver redel Continent $90000 daily 1st 60 days balance at BCI tc average - Cargill 'Bulk China' 2005 175971 dwt  dely Shanghai 14/16 Apr  trip via West Australia redel China $144000 daily - BHP Billiton 'China Steel Integrity' 2002 175772 dwt  dely Moneypoint 9/11 Apr  trip via Brazil redel Continent $126000 daily - Constellation 'Chou Shan' Cargill relet 2005 175569 dwt  dely Rizhao 14/20 Apr  trip via West Australia redel China $132500 daily - BHP Billiton 'Maria A Angelicoussis' Transfield relet 2001 169163 dwt  dely Beilun 10/15 Apr trip via West Australia redel Qingdao $125000 daily - BHP Billiton 'Chloe' 1997 160089 dwt  dely Tarragona 25/31 Mar  trip via Brazil redel Far East $157500 daily - cnr 'Bosporus' 1995 150961 dwt  dely Qingdao 31 Mar/1 Apr  trip via West Australia redel Japan approx $105000 daily - 'K' Line
'Sanko Spark' 1996 150961 dwt  25/31 Mar    -  Shagang>
'Pacific Yuan Li' 1993 149471 dwt  dely Fangcheng 1/5 Apr  trip via West Australia redel China $105000 daily - Noble 'Lady Maria Luisa' 2007 76662 dwt  dely Portbury 29/31 Mar  transatlantic round redel Skaw-Cape Passero $68500 daily - D'Amico 'Beauty Donor' 1998 73767 dwt  dely Antwerp 31 Mar/2 Apr  trip via Narvik & Eregli redel Cape Passero $74000 daily - cnr 'Far Eastern Marina' 1997 73596 dwt  dely Kaohsiung 5/7 Apr  trip via Indonesia redel EC India $60000 daily - Morgan Stanley 'Maratha Messenger' 1995 71252 dwt  dely Trincomalee 2/7 Apr  trip via WC India redel China $75000 daily - Solebay 'Dimitris Perrotis' 1984 64933 dwt  dely retro Barcelona 23 Mar  trip via NC South America redel Skaw-Cape Passero $55000 daily - Armada 'Lorentzos' 2005 53688 dwt  dely Mailiao 4/8 April  trip via Taiwan redel USGulf intention Cement $34500 daily - TMT 'Lark' 2007 53633 dwt  dely Porbandar 1/2 April  trip redel Singapore-Japan $64000 daily - Chinese charterer 'Annika' 2006 52050 dwt  dely Black Sea 1/5 Apr trip via Turkey/Persian Gulf redel PMO approx $60000 daily - cnr 'Zhong Hai'  1996 45189 dwt  dely Abidjan spot trip via Brazil redel Bangladesh $55000 daily - cnr 'Sophie Bolten' 1996 26412 dwt  dely Ghent 2/4 Apr trip via Continent redel Libya $35000 daily - Copenship
'Skyros' 1998 24128 dwt      -

ORE
'Unique Brilliance' 2001 160000/10 Saldanha Bay/Rotterdam 10/15 Apr approx $39.00 fio scale/25000sc - Corus 'London Courage' 2007 150000/10 Dalrymple Bay/Gijon 8/15 Apr $44.50 fio 50000sc/25000sc - TMT -

COAL
'TBN' 150000/10 Richards Bay/Rotterdam 15/30 Apr $40.00 fio scale/25000sc - CTM 'Topflight' 2005 50000/5 coking coal Queensland/Visakhapatnam 1/10 Apr $56.00 fio  option Hay Point or Gladstone  $54.00 20000 load/10000 discharge - VSP 'Pos Freedom' 2005 50000/5 coking coal Queensland/Visakhapatnam 15/25 Apr $56.00 fio option Hay Point or Gladstone $54.00 20000 load/10000 discharge - VSP

MISC
'Sunny Falcon' 1977 30000/5 granular urea Sur (Oman)/Visakhapatnam 2/5 Apr
$33.75 fio 12000 fhinc/6000 sshex - President of India

The Daily Fixtures Report - 27/03/2008

BDI  7884  UP  205
BCI 11100  UP  819
BPI  7909 DOWN  10
BSI  4986 DOWN 105
BHSI 2447 DOWN 17

TIMECHARTER
'Rubin Phoenix' 1997 171080 dwt  dely Rotterdam 5/7 Apr  transatlantic round redel Skaw-Cape Passero $125000 daily - cnr 'Cape Oceania' Cosbulk relet 1994 152025 dwt  dely Dunkirk 3/5 Apr  trip via Itaquai redel China $160000 daily - BHP Billiton 'CHS Bright' 1995 151053 dwt  dely Ijmuiden 3/5 Apr  trip via Brazil redel China $160000 daily - Chinese chrter 'Sanko Spark' 1996 150961 dwt  dely Wilhemshaven 1/5 Apr  trip via Brazil redel China $140000 daily - cnr -
'Cape Maxim' 1984 149581 dwt      -
'Oceanic Breeze' 2005 77000 dwt  dely PMO 6/10 Apr  trip via Saldanha Bay redel Cigading $72000 daily - HMM 'Pontovremon' TMT relet 2001 76318 dwt  dely Ghent 27/29 Mar  trip via Ubu redel Japan $78000 daily - MOSK 'Shi Dai 1' 2007 76000 dwt  dely Immingham 27/30 Mar  trip via Brazil redel China $78000 daily - Noble 'Poseidon' 2002 74900 dwt  dely Cape Passero spot 4/6 months trading redel worldwide $77000 daily - Swiss Marine 'Ribbon' 1998 74522 dwt  dely Shanghai 5/8 Apr 4/6 months trading redel worldwide $70000 daily - Cargill 'Tian Du Feng' 2001 74201 dwt  dely Hamburg 1/3 Apr  trip via Murmansk redel Skaw-Cape Passero $66000 daily - Armada 'Little Prince' 2001 74133 dwt  dely Onahama 30/31 Mar  trip via NoPac redel S.Korea $65000 daily - NYK 'Rodon' Rizzo-Bottiglieri-De Carlini Armatori Spa relet 1993 73760 dwt dely Hadong 28/30 Mar  trip via NoPac redel Singapore-Japan rge $66000 daily
- cnr
'Ocean Favour' Baumarine relet 1998 72400 dwt  dely US Gulf ppt  redel Spain $65000 daily + $950000 bb - Armada 'Aquitania' 2006 55932 dwt  dely Port Everglades 8/10 April  trip via USAC redel India approx $79500 daily - STX Pan Ocean 'Yasa H Mulla' 2002 52383 dwt  dely Cigading spot  trip via Indonesia redel India $47000 daily - Eitzen 'Nueva Fortuna' 2003 50900 dwt  dely aps Indonesia spot  trip redel India approx $41000 daily + approx $250000 bb - Eitzen 'Rosina Topic' 2000 45251 dwt  dely Santos spot  trip via East Coast South America redel Cont $47000 daily + $600000 bb - cnr 'Alexia' 1984 37585 dwt  dely Vitoria 2/4 April  trip via East Coast South America redel Med-Cont $41000 daily + 450000 bb - Bunge 'Federal Yukon' 2000 36579 dwt  dely Surabaya 2/5 April  trip via Australia redel Singapore-Japan approx $42000 daily - cnr 'Ikan Manzanillo' 1983 34062 dwt  dely Coatzacoalcos spot  trip via Jamaica redel Murmansk $40000 daily - BBL
'Helga' 2008 28000 dwt      -
'Hanjin Brisbane' 1997 27362 dwt  dely Kunsan 1/5 April 4/6 months trading redel worldwide $36500 daily - STX Pan Ocean 'DS Montrose' 2001 27028 dwt  dely aps New Amsterdam spot  trip redel Black Sea $37000 daily + $300000 bb - Oldendorff 'Ploypailin Naree' 1995 26472 dwt  dely North Coast South America 3/5 April trip redel Cont approx $42500 daily - cnr 'Skyros' 1998 24128 dwt  dely Bangkok 27/28 Mar 2 laden legs redel Singapore-Japan range $33500 daily - Armada 'Venus Frontier' 1996 23956 dwt  dely Jakarta spot 2 laden legs redel Far East $33000 daily - Oldendorff

ORE
'Front Rider' obo 1992 150000/10 Port Hedland/Qingdao 20/30 Apr $26.00 fio scale/25000sc - BHP Billiton

COAL
'London Courage' 2007 190000/10 EC Australia/Gijon 8/15 Apr $42.00 fio 7 days sc
- TMT -
'C.Utopia' 2007 150000/10 Richards Bay/Rotterdam 20/30 Apr $38.80 fio scale/30000sc - BHP Billiton 'Elpis' 2001 75000/10 Mississippi River/Immingham 10/20 Apr $45.50 fio 30000sc/25000sc - STX Pan Ocean

GRAIN
'Helen B' 1983 55000/10 Mississippi River/China 25/30 Mar $95.00 fio 10000sc/80000sc - Chinese chrtr

The Daily Fixtures Report - 26/03/2008

BDI  7679 UP    60
BCI 10281 UP   387
BPI  7919 DOWN  63
BSI  5091 DOWN  93
BHSI 2464 DOWN  31

TIMECHARTER
'SG Enterprise' 1997 211485 dwt  dely Cape Passero 4/7 Apr  trip via Brazil redel Far East $190000 daily - STX Pan Ocean 'Nightwhisper' 1985 172428 dwt  dely retro Qinhuangdao 23 Mar  trip via Brazil redel China $110000 daily - Noble 'Cape Eagle' 1993 161475 dwt  dely Rotterdam 28 Mar/1 Apr  transatlantic round redel Skaw-Cape Passero $106000 daily - Swiss Marine 'Castillo de Gormaz' 1989 153572 dwt  dely Immingham 26/28 Mar  trip via Colombia redel Continent $95000 daily - Cargill 'Cape Maxim' 1984 149581 dwt  dely Caofeidian 30/31 Mar  trip via Chennai redel S.Korea $80000 daily - STX Pan Ocean - 'Kamsar Gold' 2006 82795 dwt  dely Taiwan 28 Mar/5 Apr  trip via Indonesia redel S.Korea $61000 daily - Jinyang 'Pepito' 2001 75928 dwt  dely Mundra 1/7 Apr  trip via Goa redel China $77000 daily - Brownstone 'Leonardo Lembo' 1996 75473 dwt  dely Lianyungang 28/30 Mar 3/5 months trading redel worldwide $68000 daily - cnr 'Ever Shining' 1999 74346 dwt  dely Shekou 26/28 Mar  trip via Indonesia redel Italy $48500 daily - EdF 'Fu Tong' 1998 71330 dwt  dely Yangjiang 28/31 Mar  trip via Indonesia redel Singapore-Japan rge $61000 daily - cnr 'SD Victory' 1986 69585 dwt  dely Black Sea 3/7 Apr  trip redel China int pigiron $84500 daily - Fayette 'Yue Dian 5' 1997 69091 dwt  dely Constanza 28/31 Mar  trip via Black Sea redel Skaw-Cape Passero $70000 daily - cnr 'Yong Huan' 2000 69081 dwt  dely Cigading 29/30 Mar  trip via Indonesia redel Malaysia $61000 daily - Cosbulk 'Anassa' 1983 63686 dwt  dely PMO 24/27 Mar  trip via WC India redel China $60000 daily - cnr 'Sanko King' 2008 56200 dwt  dely Lianyungang 28/29 March  trip via Australia redel East Coast India $47500 daily - cnr 'Serenity 1' 2006 53694 dwt  dely East Coast India 1/5 April about 3/5 months trading redel worldwide approx $62000 daily - Clipper 'Madonna 3' 2007 53390 dwt  dely Lianyungang 28/29 March  trip via South-east Asia redel China $40000 daily - cnr 'Ocean Prefect' 2003 53035 dwt  dely Shanghai 28/30 March  trip redel West Africa $48000 daily - Cargill - 'VOC Galaxy' 2002 51021 dwt  dely Longkou 29 March/2 April  trip via South-east Asia redel China approx $40000 daily - Tongli 'Zenovia' 1992 43595 dwt  dely Iskenderun 1/5 April  trip via Persian Gulf redel PMO approx $56500 daily - Diler 'Planica' 1984 42239 dwt  dely Nemrut Bay 28/31 March  trip via Persian Gulf redel PMO $55000 daily - cnr
'Efessos' 1982 34273 dwt      -  incorrect>
'Ocean Lotus' 2004 28432 dwt  dely Nagoya early Apr 3/5 months trading redel worldwide approx $39000 daily - cnr 'Helga' 2008 28000 dwt  dely Sakaide 4/6 April  trip via China redel Japan $32500 daily - Japanese charterer

ORE
'Anangel Fortune' 2005 160000/10 Tubarao/Qingdao 15/25 Apr $69.50 fio scale/30000sc - KLC

COAL
'TBN' 70000/10 Taboneo/Zhangjiang 5/14 Apr $19.90 fio 15000s/20000sc - Petrocom

Daily Summary of Baltic Exchange Dry Indices 26 March 2008

Baltic Exchange Dry Index TM 7679 (UP 60)

Baltic Exchange Capesize Index TM 10281 (UP 387)

Baltic Exchange Panamax Index TM 7919 (DOWN 63)

Baltic Exchange Supramax Index TM 5091 (DOWN 93)

Baltic Exchange Handysize Index TM 2464 (DOWN 31)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $118409 (UP 5415)

BPI   Average of the T/C routes $63814 (DOWN 516)

BSI    Average of the T/C routes $53227 (DOWN 979)

BHSI  Average of the T/C routes $36240 (DOWN 514)

Baltic Exchange Capesize Index     10281     (UP 387)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 31.023 1.387

C3 150000mt Tubarao - Beilun/Baoshan 15 67.625 3.625

C4 150000mt Richards Bay - Rotterdam 5 35.432 1.409

C5 150000mt W Australia - Beilun/Baoshan 15 25.355 0.469

C7 150000mt Bolivar - Rotterdam 5 32.095 1.359

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 113136 7818

C9_03 172000mt Continent/Mediterranean trip Far East 5 164692 9577

C10_03 172000mt Pacific RV 20 113515 1846

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 82292 2417

C12 150000mt Gladstone - Rotterdam 10 47.259 0.627

Average of the T/C Routes 118409 5415

Baltic Exchange Panamax Index     7919     (DOWN 63)

Route

Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 68058 -142

P2A_03 74000mt SKAW-GIB/FAR EAST 25 78538 -437

P3A_03 74000mt Japan-SK/Pacific/RV 25 60107 -607

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 48556 -875

Average of the T/C Routes 63814 -516

Baltic Exchange Supramax Index     5091     (DOWN 93)

Route  Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62905 -75

S1B Canakkale Trip Far East 12.5 62559 -36

S2 Japan - SK / NOPAC or Australia rv 25 49935 -2446

S3 Japan - SK Trip Gib - Skaw range 25 46675 -1400

S4A US Gulf - Skaw-Passero 12.5 73385 10

S4B Skaw-Passero - US Gulf 12.5 33750 -35

Average of the T/C Routes 53227 -979

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

S5 W.Africa via ECSA to FarEast 0 69380 -600

S6 Jpn-SK trip via Aus/India 0 48636 -2196

S7 EC India - China 0 88958 -1292

Baltic Exchange Handysize Index     2464     (DOWN 31)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 25671 114

HS2 Skaw - Passero trip Boston - Galveston 12.5 26050 107

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44350 -428

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47475 -140

HS5 SE Asia trip via Australia to Singapore - Japan 25 37093 -1014

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 36093 -871

Average of the T/C Routes 36240 -514

The Daily Fixtures Report - 25/03/2008

BDI  7619 DOWN 65
BCI  9894 DOWN 88
BPI  7982 DOWN 24
BSI  5184 DOWN 83
BHSI 2495 DOWN 23

TIMECHARTER
'Star of RBD' ETA/Pacific Maritime newbuilding 83000 dwt  dely ex yard Sanoyas Nov/Dec 2008 5 years trading redel worldwide $41000 daily - Rizzo-Bottiglieri-De Carlini Armatoris Spa - 'Navios Star' 2002 76662 dwt  dely Rotterdam 22/23 Mar  trip via USEC & Egypt tedel Cape Passero $69500 daily - Armada 'Crown Star' 2002 76662 dwt  dely Mitsukojima 7/14 Apr 4/6 months trading redel worldwide $71000 daily - Dreyfus 'Pos Glory' 2005 76058 dwt  dely Pakistan 23/26 Mar  trip via Richards Bay redel India $75000 daily - Armada 'Ocean Minerva' 2007 75698 dwt  dely Brake 30/31 Mar  trip via N.France & Egypt redel Cape Passero $70500 daily - Pyramid 'Pessada' 1999 75484 dwt  dely Amsterdam 26/28 Mar  transatlantic round redel Skaw-Cape Passero $71500 daily - Swiss Marine 'Alpha Melody' 2002 74475 dwt  dely Taiwan 24/27 Mar  trip via Indonesia redel Taiwan $57000 daily - STX Pan Ocean 'Amira' 2001 74401 dwt  dely Lumut 31 Mar/1 Apr  trip via Indonesia option Weipa redel Skaw-Cape Passero $49000 daily - Norden 'Clipper Emperor' 2000 74381 dwt  dely Constanza 28/31 Mar  trip via Black Sea & USEC redel Skaw-Cape Passero $74000 daily - Bunge - 'Cos Intrepid' 2001 74118 dwt  dely Fangcheng 28/31 Mar 5/6 months trading redel worldwide $71000 daily - Norden 'Willi Salamon' 2000 74005 dwt  dely Shanghai 24/27 Mar  trip via Indonesia redel Hong Kong $52000 daily - Norden 'Bianco Dan' 2004 55628 dwt  dely Alexandria 28/30 Mar trip via Black Sea/Persian Gulf redel Muscat approx $60000 daily - Fayette - 'Nord Voyager' 2006 53487 dwt  dely Qingdao spot  trip via Indonesia redel Pakistan $42000 daily - Shadab 'Tai Happiness' 2004 52686 dwt  dely Lanshan spot  trip via South-east Asia redel China approx $38000 daily - cnr 'Star Providence' 1985 40698 dwt  dely Rio Grande 27/31 March  trip redel Med $45000 daily + $700000 bb - Agrenco 'Chalkidon' 1985 38221 dwt  dely south Brazil 1/10 Apr trip redel Continent $45500 daily + $500000 bb - Cargill 'Efessos' 1982 34273 dwt  dely Glasgow 2/12 Apr trip via UK/Continent redel Turkey $51000 daily - EMR

COAL
'Mineral Noble' 2004 150000/10 Richards Bay/Rotterdam 15/25 Apr $34.75 fio scale/25000sc - BHP Billiton 'Cape Harrier' 2005 150000/10 Richards Bay/Rotterdam 5/15 Apr $35.00 fio scale/25000sc - BHP Billiton 'Anangel Explorer' 2007 150000/10 Richards Bay/Rotterdam 25/30 Apr $35.00 fio scale/25000sc - BHP Billiton

Daily Summary of Baltic Exchange Dry Indices 25 March 2008

Baltic Exchange Dry Index TM 7619 (DOWN 65)

Baltic Exchange Capesize Index TM 9894 (DOWN 88)

Baltic Exchange Panamax Index TM 7982 (DOWN 24)

Baltic Exchange Supramax Index TM 5184 (DOWN 83)

Baltic Exchange Handysize Index TM 2495 (DOWN 23)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $112994 (DOWN 1158)

BPI    Average of the T/C routes $64330 (DOWN 206)

BSI    Average of the T/C routes $54206 (DOWN 866)

BHSI  Average of the T/C routes $36754 (DOWN 381)

Baltic Exchange Capesize Index     9894     (DOWN 88)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 29.636 -0.339

C3 150000mt Tubarao - Beilun/Baoshan 15 64.000 -0.250

C4 150000mt Richards Bay - Rotterdam 5 34.023 0.898

C5 150000mt W Australia - Beilun/Baoshan 15 24.886 -0.364

C7 150000mt Bolivar - Rotterdam 5 30.736 -0.314

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 105318 -1182

C9_03 172000mt Continent/Mediterranean trip Far East 5 155115 -802

C10_03 172000mt Pacific RV 20 111669 -1748

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 79875 -898

C12 150000mt Gladstone - Rotterdam 10 46.632 -0.153

Average of the T/C Routes 112994 -1158

Baltic Exchange Panamax Index     7982     (DOWN 24)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 68200 211

P2A_03 74000mt SKAW-GIB/FAR EAST 25 78975 -53

P3A_03 74000mt Japan-SK/Pacific/RV 25 60714 -483

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 49431 -497

Average of the T/C Routes 64330 -206

Baltic Exchange Supramax Index     5184     (DOWN 83)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62980 -101

S1B Canakkale Trip Far East 12.5 62595 -77

S2 Japan - SK / NOPAC or Australia rv 25 52381 -2119

S3 Japan - SK Trip Gib - Skaw range 25 48075 -1169

S4A US Gulf - Skaw-Passero 12.5 73375 -158

S4B Skaw-Passero - US Gulf 12.5 33785 -21

Average of the T/C Routes 54206 -866

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

S5 W.Africa via ECSA to FarEast 0 69980 -245

S6 Jpn-SK trip via Aus/India 0 50832 -1801

S7 EC India - China 0 90250 -345

Baltic Exchange Handysize Index     2495     (DOWN 23)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 25557 100

HS2 Skaw - Passero trip Boston - Galveston 12.5 25943 114

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44778 -266

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47615 -55

HS5 SE Asia trip via Australia to Singapore - Japan 25 38107 -851

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 36964 -619

Average of the T/C Routes 36754 -381

The Daily Fixtures Report - 19/03/2008

BDI  7801 DOWN  92
BCI 10246 DOWN 135
BPI  8099 DOWN 104
BSI  5302 DOWN  58
BHSI 2518 DOWN  11

TIMECHARTER
'Shagang First' Bunge relet 2006 177656 dwt  dely Caofeidian 30/31 Mar trip via West Australia redel China $114000 daily - cnr 'CSK Fortune' NYK relet 2003 175526 dwt  dely China 30/31 Mar  trip via West Australia redel China $112000 daily - Crownland 'Papa' 1984 139779 dwt  dely Qingdao 25/30 Mar  trip via Chile redel China $85000 daily - Industrial Carriers 'Christina' 2007 77053 dwt  dely Qingdao 25/21 Mar  trip via NoPac redel China $60000 daily - STX Pan Ocean 'Pansolar' 2005 76345 dwt  dely Taichung 21/29 Mar  trip via Darwin redel China $65000 daily - Noble 'Ikan Bayan' 2005 75777 dwt  dely Kamaishi 21/23 Mar  trip via USWC redel Japan int petcoke $68000 daily - Mitsubishi 'Medi Genova' 2004 75767 dwt  dely Cape Passero 22/24 Mar  trip via EC South America redel Skaw-Cape Passero $68000 daily - cnr 'Saldanha' 2004 75500 dwt  dely Aden 20/25 Mar  trip via Richards Bay redel Skaw-Cape Passero $67500 daily - Cargill 'Nordweser' 2001 75323 dwt  dely Japan 20/21 Mar  trip via N.China redel Japan $67000 daily - NYK 'Ever Shining' 1999 74346 dwt  dely Shekou 26 Mar/3 Apr  trip via Vietnam redel Black Sea $50000 daily - Korea Line 'Great Intelligence' 2000 74293 dwt  dely Jorf Lasfar 28/30 Mar  trip via Trombetas redel Aughinish $78000 daily - Norden 'Medi Roma' 2001 74255 dwt  dely Montoir 21/22 Mar  trip via NC South America redel Skaw-Passero int coal $70900 daily - cnr 'Naias' 2006 73546 dwt  dely Immingham 25/27 Mar  trip via Baltic redel Skaw-Cape Passero $75000 daily - Armada 'Seajoy' 2000 73454 dwt  dely Ijmuiden 27 Mar/2 Apr  trip via EC South America redel Far East $80000 daily - Cosbulk 'Zagora' TMT relet 2001 73435 dwt  dely Qingdao 24/26 Mar  trip via NoPac redel Singapore-Japan rge $60000 daily - Louis Dreyfus 'Pontadamon'  2000 72917 dwt  dely Tarragona spot 2 laden legs redel Skaw-Cape Passero $69500 daily - Azure 'Melodia' 1997 72272 dwt  dely Mizushima 22/24 Mar  trip via NoPac redel Singapore-Japan rge $62000 daily - Ocean Glory 'Lopi Z' 1998 71982 dwt  dely Aden 23/29 Mar  trip via Richards Bay redel Skaw-Cape Passero $66000 daily - D'Amico 'Torm Baltic' 1997 69614 dwt  dely Stade 25/30 Mar  trip via EC South America redel Singapore-Japan rge $80000 daily - cnr 'Full Sources' 1994 69573 dwt  dely Nantong spot 11/13 months trading redel worldwide $70000 daily - NCS 'Mass Wits' 1988 69355 dwt  dely Shanghai 25/27 Mar  trip via NoPac redel Singapore-Japan rge $57000 daily - Cargill 'Natty' 1982 64884 dwt  dely Cape Passero 15/17 Mar  trip via US Gulf redel Skaw-Cape Passero $55000 daily - Windrose 'Cos Lucky' 2003 52395 dwt  dely South China 20/23 March  trip via East Coast India redel China $55000 daily - cnr 'Ocean Crown' 2005 52347 dwt  dely East Med/Black Sea end March  trip redel Singapore-Japan approx $63500 daily - Oldendorff 'Navios Achilles' 2001 52055 dwt  dely Caofeidian 23/25 March  trip redel West Africa $49000 daily - Cargill 'Globetrotter' 2001 49000 dwt  dely PMO 22/25 March  trip via West Coast India redel China $66500 daily - Noble 'Marylebone' 2001 48377 dwt  dely Dneprobugsky 20/25 Mar trip via Black Sea/Persian Gulf redel PMO $61000 daily - cnr 'Dubai Guardian' 1997 47271 dwt  dely PMO 25/30 March  trip via West Coast India redel China $70000 daily - cnr 'Giorgos B' 1994 45697 dwt  dely Port Harcourt 25/27 March balance of period until September 2008 redel worldwide $60000 daily - Oldendorff 'Global Ocean' 1997 45600 dwt  dely Nemrut Bay 21/22 March  2 laden legs redel Atlantic $55000 daily - cnr 'Enforcer' 1982 45575 dwt  dely Point Noire end March  trip redel Singapore-Japan $52500 daily - cnr

ORE
'CHS Creation' 2006 160000/10 Dampier/Qingdao 1/15 Apr $26.00 fio scale/30000sc
- RTS
'Noble TBN' 150000/10 Tubaro/Qingdao 10/20 Apr $65.00 fio scale/30000sc
- Cosco
Qingdao

Daily Summary of Baltic Exchange Dry Indices 19 March 2008

Baltic Exchange Dry Index TM 7801 (DOWN 92)

Baltic Exchange Capesize Index TM 10246 (DOWN 135)

Baltic Exchange Panamax Index TM 8099 (DOWN 104)

Baltic Exchange Supramax Index TM 5302 (DOWN 58)

Baltic Exchange Handysize Index TM 2518 (DOWN 11)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI      Average of the T/C routes $116996 (DOWN 1982)

BPI       Average of the T/C routes $65294 (DOWN 836)

BSI       Average of the T/C routes $55441 (DOWN 600)

BHSI    Average of the T/C routes $37145 (DOWN 208)

Baltic Exchange Capesize Index     10246     (DOWN 135)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 30.464 -0.386

C3 150000mt Tubarao - Beilun/Baoshan 15  66.167 -0.833

C4 150000mt Richards Bay - Rotterdam 5 33.191 0.146

C5 150000mt W Australia - Beilun/Baoshan 15 26.364 -0.159

C7 150000mt Bolivar - Rotterdam 5 31.532 -0.318

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 108636 -1364

C9_03 172000mt Continent/Mediterranean trip Far East 5 160077 -2923

C10_03 172000mt Pacific RV 20 117269 -2808

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 82000 -833

C12 150000mt Gladstone - Rotterdam 10 47.345 -0.014

Average of the T/C Routes 116996 -1982

Baltic Exchange Panamax Index     8099     (DOWN 104)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 68843 -1070

P2A_03 74000mt SKAW-GIB/FAR EAST 25 79463 -437

P3A_03 74000mt Japan-SK/Pacific/RV 25 62105 -1157

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 50767 -677

Average of the T/C Routes 65294 -836

Baltic Exchange Supramax Index     5302     (DOWN 58)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 63223 -322

S1B Canakkale Trip Far East 12.5 62611 -130

S2 Japan - SK / NOPAC or Australia rv 25 55310 -1086

S3 Japan - SK Trip Gib - Skaw range 25 49780 -890

S4A US Gulf - Skaw-Passero 12.5 73710 -285

S4B Skaw-Passero - US Gulf 12.5 33805 -110

Average of the T/C Routes 55441 -600

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

S5 W.Africa via ECSA to FarEast 0 70178 8

S6 Jpn-SK trip via Aus/India 0 53209 -764

S7 EC India - China 0 91250 21

Baltic Exchange Handysize Index     2518     (DOWN 11)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 25279 293

HS2 Skaw - Passero trip Boston - Galveston 12.5 25800 321

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 45106 -77

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47730 -235

HS5 SE Asia trip via Australia to Singapore - Japan 25 39014 -479

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 37607 -507

Average of the T/C Routes 37145 -208

The Daily Fixtures Report - 18/03/2008

Technorati Tags: Baltic Dry Index,Baltic Dry Indices

BDI 7893 DOWN 20
BCI 10381 UP 2
BPI 8203 DOWN 36
BSI 5360 DOWN 27
BHSI 2529 DOWN 6

TIMECHARTER
'Royal Chorale' 2006 177544 dwt dely ex drydock Japan 23/25 Mar trip via Richards Bay redel Rotterdam $78000 daily 1st 55 days $135000 balance - Swiss Marine 'Huang Shan' 2003 175980 dwt dely Cape Passero 20/25 Mar trip via Colombia redel Skaw-Cape Passero $110000 daily - EdF 'Bet Performer' 1997 172091 dwt dely Cape Passero 19/21 Mar trip via Ponta Da Madeira redel Japan $170000 daily - NYK 'Mulberry Wilton' 2004 76274 dwt dely North Pulu Laut spot trip via EC India redel China $70000 daily - Chinese chrtr 'Persian Gulf' CTP relet 2006 73644 dwt dely Xinsha spot trip via West Australia redel Yemen $67000 daily - AWB 'Protefs' 2004 73630 dwt dely Qingdao 23/30 Mar 5/6 months trading redel worldwide $70000 daily - Swiss Marine - 'Bremen Max' 2003 73503 dwt dely psg Canakkale 24/26 Mar trip via Black Sea redel China $90000 daily - Richstone 'Hamburg Max' 1994 73498 dwt dely Hong Kong 18/20 Mar trip via Richards Bay redel Jorf Lasfar $54000 daily - BHP Billiton 'Pierre' 1996 70316 dwt dely WC India 15/30 Apr 1 years trading redel worldwide $70500 daily - Armada
'Dimitris Perrotis' 1984 64933 dwt -
'Triton Stork' 2004 56024 dwt dely Haldia 24/26 March trip redel China $104000 daily - cnr 'Salamina' 2001 53515 dwt dely Rizhao spot trip redel India approx $42000 daily - Bulkmarine 'Seavenus' 2000 50913 dwt dely Santos spot trip via east coast South America redel Singapore-Japan range $68000 daily + $850000 bb - Wilmar 'Jin An' 2000 50786 dwt dely USGulf early April trip redel Singapore-Japan approx $62000 daily + $890000 bb - Cargill 'Jag Riddhi' 1997 47240 dwt dely Luo Yuan Wan spot trip via East Coast India redel China $51500 daily - Seawin 'Furia R' 1996 46664 dwt dely Malaga 27/29 March balance of period until end August 2008 redel worldwide $61500 daily - IHX 'Clean Seas' 1995 46640 dwt dely worldwide April/May 2008 8/10 months trading redel wordwide $58000 daily - BHP Billiton 'Sagacious ID' 1996 45647 dwt dely Baltimore spot trip via USGulf redel North Spain $54000 daily - Norden 'Spar Two' 1982 35971 dwt dely Warri 18/25 Mar trip via east coast South America redel UK/Continent $40000 daily - Bunge 'Navision Trader' 1991 28452 dwt dely Taiwan spot trip via Far East redel China about 25/30 days $36000 daily - Jebsens 'Sea Baisen' 1998 26613 dwt dely Nikolaev prompt trip via Black Sea redel South Africa $30000 daily - Sealift 'Atlantic Acacia' 1993 26472 dwt dely Tuzla 16 Mar trip via Black Sea redel west coast South America $31000 daily - Oldendorff -

ORE
'Alpha Friendship' Coscobulk relet 1996 160000/10 Dampier/Qingdao 11/20 Apr $27.00 fio scale/30000sc - STX Pan Ocean 'TBN' 70000/10 Nouadhibou/Rotterdam 15/30 Apr $24.00 fio 5 days - Rogesa

COAL
'TBN' 160000/10 Dalrymple Bay/Rotterdam 1/15 Apr $49.00 fio scale/25000sc - TKS

Daily Summary of Baltic Exchange Dry Indices 18 March 2008

 

 

Baltic Exchange Dry Index TM 7893 (DOWN 20)

Baltic Exchange Capesize Index TM 10381 (UP 2)

Baltic Exchange Panamax Index TM 8203 (DOWN 36)

Baltic Exchange Supramax Index TM 5360 (DOWN 27)

Baltic Exchange Handysize Index TM 2529 (DOWN 6)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $118978 (UP 82)

BPI   Average of the T/C routes $66130 (DOWN 293)

BSI   Average of the T/C routes $56041 (DOWN 283)

BHSI Average of the T/C routes $37353 (DOWN 110)

Baltic Exchange Capesize Index     10381     (UP 2)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 30.850 -0.159

C3 150000mt Tubarao - Beilun/Baoshan 15 67.000 -0.167

C4 150000mt Richards Bay - Rotterdam 5 33.045 0.100

C5 150000mt W Australia - Beilun/Baoshan 15 26.523 0.123

C7 150000mt Bolivar - Rotterdam 5 31.850 -0.127

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 110000 -409

C9_03 172000mt Continent/Mediterranean trip Far East 5 163000 308

C10_03 172000mt Pacific RV 20 120077 346

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 82833 83

C12 150000mt Gladstone - Rotterdam 10 47.359 0.023

Average of the T/C Routes 118978 82

Baltic Exchange Panamax Index     8203     (DOWN 36)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 69913 -525

P2A_03 74000mt SKAW-GIB/FAR EAST 25 79900 37

P3A_03 74000mt Japan-SK/Pacific/RV 25 63262 -631

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 51444 -56

Average of the T/C Routes 66130 -293

Baltic Exchange Supramax Index     5360     (DOWN 27)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 63545 -53

S1B Canakkale Trip Far East 12.5 62741 -16

S2 Japan - SK / NOPAC or Australia rv 25 56396 -598

S3 Japan - SK Trip Gib - Skaw range 25 50670 -365

S4A US Gulf - Skaw-Passero 12.5 73995 -260

S4B Skaw-Passero - US Gulf 12.5 33915 -13

Average of the T/C Routes 56041 -283

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

S5 W.Africa via ECSA to FarEast 0 70170 -135

S6 Jpn-SK trip via Aus/India 0 53973 -982

S7 EC India - China 0 91229 166

Baltic Exchange Handysize Index     2529     (DOWN 6)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 24986 236

HS2 Skaw - Passero trip Boston - Galveston 12.5 25479 286

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 45183 94

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47965 -65

HS5 SE Asia trip via Australia to Singapore - Japan 25 39493 -328

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 38114 -386

Average of the T/C Routes 37353 -110

Daily Summary of Baltic Exchange Dry Indices 17 March 2008

Baltic Exchange Dry Index TM 7913 (DOWN 59)

Baltic Exchange Capesize Index TM 10379 (DOWN 140)

Baltic Exchange Panamax Index TM 8239 (DOWN 41)

Baltic Exchange Supramax Index TM 5387 (DOWN 7)

Baltic Exchange Handysize Index TM 2535 (DOWN 11)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $118896 (DOWN 2334)

BPI     Average of the T/C routes $66423 (DOWN 332)

BSI     Average of the T/C routes $56324 (DOWN 78)

BHSI   Average of the T/C routes $37463 (DOWN 190)

Baltic Exchange Capesize Index     10379     (DOWN 140)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 31.009 -0.396

C3 150000mt Tubarao - Beilun/Baoshan 15 67.167 -0.833

C4 150000mt Richards Bay - Rotterdam 5 32.945 -0.169

C5 150000mt W Australia - Beilun/Baoshan 15 26.400 -0.123

C7 150000mt Bolivar - Rotterdam 5 31.977 -0.350

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 110409 -3227

C9_03 172000mt Continent/Mediterranean trip Far East 5 162692 -3577

C10_03 172000mt Pacific RV 20 119731 -1577

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 82750 -958

C12 150000mt Gladstone - Rotterdam 10 47.336 -0.141

Average of the T/C Routes 118896 -2334

Baltic Exchange Panamax Index     8239     (DOWN 41)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 70438 -392

P2A_03 74000mt SKAW-GIB/FAR EAST 25 79863 113

P3A_03 74000mt Japan-SK/Pacific/RV 25 63893 -723

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 51500 -325

Average of the T/C Routes 66423 -332

Baltic Exchange Supramax Index     5387     (DOWN 7)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 63598 -42

S1B Canakkale Trip Far East 12.5 62757 32

S2 Japan - SK / NOPAC or Australia rv 25 56994 -68

S3 Japan - SK Trip Gib - Skaw range 25 51035 -243

S4A US Gulf - Skaw-Passero 12.5 74255 -55

S4B Skaw-Passero - US Gulf 12.5 33928 68

Average of the T/C Routes 56324 -78

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

S5 W.Africa via ECSA to FarEast 0 70305 -275

S6 Jpn-SK trip via Aus/India 0 54955 -495

S7 EC India - China 0 91063 84

Baltic Exchange Handysize Index     2535     (DOWN 11)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 24750 121

HS2 Skaw - Passero trip Boston - Galveston 12.5 25193 122

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 45089 -22

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 48030 45

HS5 SE Asia trip via Australia to Singapore - Japan 25 39821 -379

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 38500 -514

Average of the T/C Routes 37463 -190

The Daily Fixtures Report - 17/03/2008

BDI  7913 DOWN  59
BCI 10379 DOWN 140
BPI  8239 DOWN  41
BSI  5387 DOWN   7
BHSI 2535 DOWN  11

TIMECHARTER
'Seakoh' 2000 172247 dwt  dely Skaw 25/26 Mar  trip via Brazil redel Continent $108000 daily - SK Shipping - 'Knightsbridge Tanker TBN' newbuilding 170000 dwt  dely ex yard Daehan June/Sept
5 years trading redel worldwide $54000 daily - Shagang - 'China Fortune' 1992 152011 dwt  dely Worldwide d/c Aug 3 years trading redel worldwide $80750 daily - Cosco Qingdao 'Ajax' 2006 77326 dwt  dely Cape Passero 21/24 Mar  trip via Brazil redel China if ore $84000 daily if grain $80000 daily - Noble 'Bonita' 2001 76623 dwt  dely Aughinish 25/30 Mar period up to Nov-Dec
2009
redel worldwide $78000 daily - Sinochart 'GH Power' 2002 76421 dwt  dely Port Kelang 21/22 Mar  trip via EC India redel China $81000 daily - Noble 'Seaguardian' 1999 75462 dwt  dely Cape Passero 22/25 Mar  trip via Brazil redel Singapore-Japan rge $81500 daily - Wilmar 'Orchid Star' 1997 73981 dwt  dely Nagoya 19/24 Mar  trip via NoPac redel Singapore-Japan rge $61500 daily - Louis Dreyfus 'Beauty Donor' 1997 73763 dwt  dely Hamburg 25/27 Mar balance of period
3/5.5
months trading redel worldwide $78000 daily - CTP 'Linda Leah' 1997 73317 dwt  dely Japan 16/22 Mar 4/6 months trading redel worldwide $67750 daily - Norden - 'Proteus' Cargill relet 1999 73018 dwt  dely Goa 13/15 Mar  trip redel China $81000 daily - Brownstone 'Joyous Land' 1994 69283 dwt  dely Campana 19/21 Mar  trip via EC South America redel PMO $75000 daily + $1.5 million bb - Cargill 'Dimitiris Perrotis' 1984 64933 dwt  dely Barcelona 22/25 Mar  trip via Brazil redel Skaw-Cape Passero $63500 daily - cnr 'Maritime Setoshio' 2005 55765 dwt  dely Brazil early April trip redel Far East $68000 daily + $1 million bb - TMT
'Avra' 2004 53806 dwt      -
'Pacific Glory' 1999 20427 dwt  dely Taranto prompt trip via Black Sea redel USGulf $20000 daily - cnr

COAL
'Alpha Afovos' Bunge relet 2001 66000/10 Dalrymple/Rotterdam 16/30 Mar $75.00 fio 5 days - Mittal

Daily Summary of Baltic Exchange Dry Indices 14 March 2008

Baltic Exchange Dry Index TM 7972 (DOWN 120)

Baltic Exchange Capesize Index TM 10519 (DOWN 364)

Baltic Exchange Panamax Index TM 8280 (DOWN 66)

Baltic Exchange Supramax Index TM 5394 (UP 25)

Baltic Exchange Handysize Index TM 2546 (UP 3)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $121230 (DOWN 4592)

BPI    Average of the T/C routes $66755 (DOWN 550)

BSI    Average of the T/C routes $56402 (UP 266)

BHSI  Average of the T/C routes $37653 (UP 14)

Baltic Exchange Capesize Index     10519     (DOWN 364)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 31.405 -0.690

C3 150000mt Tubarao - Beilun/Baoshan 15 68.000 -2.033

C4 150000mt Richards Bay - Rotterdam 5 33.114 -0.522

C5 150000mt W Australia - Beilun/Baoshan 15 26.523 -1.036

C7 150000mt Bolivar - Rotterdam 5 32.327 -0.691

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 113636 -4137

C9_03 172000mt Continent/Mediterranean trip Far East 5 166269 -5423

C10_03 172000mt Pacific RV 20 121308 -6307

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 83708 -2500

C12 150000mt Gladstone - Rotterdam 10 47.477 -0.664

Average of the T/C Routes 121230 -4592

Baltic Exchange Panamax Index     8280     (DOWN 66)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 70830 -220

P2A_03 74000mt SKAW-GIB/FAR EAST 25 79750 -94

P3A_03 74000mt Japan-SK/Pacific/RV 25 64616 -932

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 51825 -953

Average of the T/C Routes 66755 -550

Baltic Exchange Supramax Index     5394     (UP 25)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 63640 85

S1B Canakkale Trip Far East 12.5 62725 123

S2 Japan - SK / NOPAC or Australia rv 25 57062 504

S3 Japan - SK Trip Gib - Skaw range 25 51278 150

S4A US Gulf - Skaw-Passero 12.5 74310 522

S4B Skaw-Passero - US Gulf 12.5 33860 85

Average of the T/C Routes 56402 266

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

S5 W.Africa via ECSA to FarEast 0 70580 -65

S6 Jpn-SK trip via Aus/India 0 55450 45

S7 EC India - China 0 90979 1866

Baltic Exchange Handysize Index     2546     (UP 3)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 24629 236

HS2 Skaw - Passero trip Boston - Galveston 12.5 25071 264

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 45111 50

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47985 60

HS5 SE Asia trip via Australia to Singapore - Japan 25 40200 -121

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 39014 -129

Average of the T/C Routes 37653 14

The Daily Fixtures Report - 14/03/2008

BDI  7972 DOWN 120
BCI 10519 DOWN 364
BPI  8280 DOWN  66
BSI  5394 UP    25
BHSI 2546 UP     3

TIMECHARTER
'Cape Trust' 2002 176295 dwt  dely Antwerp 18/19 Mar  trip via Colombia redel Sines-Gijon $115000 daily option redel Continent $120000 daily - Swiss Marine 'Anangel Legend' EdF relet 1996 161059 dwt  dely Amsterdam 14/16 Mar trip via Brazil redel China $145000 daily - Oceanbulk 'RBD Capri' 2008 76500 dwt  dely Qingdao 25/30 mar 3/5 months trading redel worldwide $73500 daily - cnr 'Mahitis' 2001 76058 dwt  dely Rizhao 16/17 Mar 4/6 months trading redel worldwide $72000 daily - BBL
'Cyclades' 2000 75681 dwt      -  'K'Line>
'Great Eagle' 2005 74143 dwt  dely Xinsha 12/14 Mar  trip via Indonesia redel Spain $52000 daily - Louis Dreyfus 'Atlantic' 1996 73565 dwt  dely Bin Qasim 19/25 Mar  trip via WC India redel China $90000 daily - Chinese chrtr 'Happy Clipper' 2001 73414 dwt  dely Jiangjin in d/c 21/22 Mar 9/10 months trading redel worldwide $68000 daily - Cosbulk - 'Juno Island' 1997 72080 dwt  dely Noshiro 16/18 Mar  trip via NoPac redel Far East $62750 daily - Louis Dreyfus 'Samjohn Spirit' STX Pan Ocean relet 1994 71730 dwt  dely Ningbo 18/20 Mar 4/6 months trading redel worldwide $70000 daily - BBL 'Peter S' CTP relet 1995 71550 dwt  dely Cape Passero 14/16 Mar  trip via Egypt redel UKC int metcoke $72000 daily - Noble 'Full Comfort' 1994 70181 dwt  dely Cape Passero 17/21 Mar 2 laden legs redel Skaw-Cape Passero approx $74000 daily - Clipper - 'Amber' 1978 63787 dwt  dely S.China end Mar  trip via Nantong redel PG $40000 daily - CTI 'Prabhu Gopal' 2003 56023 dwt  dely Haldia 23/25 Mar  trip redel China $100000 daily - Bagadiya Bros Yasa Emirhan' new building 55500 dwt  dely ex yard Chiba 19 Mar trip via Nopac redel Singapore-Japan range $62000 daily - Armada 'Avra' 2004 53806 dwt  dely Zhanziang 15/16 Mar 2/3 laden legs redel worldwide $64500 daily - Oldendorff 'Clean Seas' 1995 46640 dwt  dely Lianyungang 19/25 Mar balance of period Jan-Feb 2009 redel worldwide $58000 dailyl - BHP Billiton 'Olga Topic' 1995 45483 dwt  dely Passero 20/22 Mar 2 laden legs redel Far East $55500 daily - cnr 'Sahar' 1984 42208 dwt  dely Singapore 20/21 Mar  trip via Indonesia redel Pakistan $51500 daily - Shadab 'Rosella' 2005 29870 dwt  dely retro Chiba 11 Mar trip via south east Asia redel China $35000 daily - cnr 'Great Creation' 1998 27383 dwt  dely Isabel 14/15 Mar trip via south east Asia redel Philippines $36000 daily - Japanese charterers

ORE
'Paschalis D' 2002 160000/10 Tubarao/Qingdao 5/14 Apr $68.50 fio scale/30000sc - Rizhao Steel
'Bright Century' 1997  /    -

COAL
'Darya Dhyan' 2001 50000/5 Queensland/east coast India 1/10 Apr $57 option Hay Point $55 fio 20000 load/10000 except Haldia 12000 - SAIL

Daily Summary of Baltic Exchange Dry Indices 13 March 2008

Baltic Exchange Dry Index TM 8092 (DOWN 254)

Baltic Exchange Capesize Index TM 10883 (DOWN 777)

Baltic Exchange Panamax Index TM 8346 (DOWN 141)

Baltic Exchange Supramax Index TM 5369 (UP 48)

Baltic Exchange Handysize Index TM 2543 (UP 18)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $125822 (DOWN 9721)

BPI   Average of the T/C routes $67305 (DOWN 1150)

BSI   Average of the T/C routes $56136 (UP 503)

BHSI Average of the T/C routes $37639 (UP 244)

Baltic Exchange Capesize Index     10883     (DOWN 777)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 32.095 -1.505

C3 150000mt Tubarao - Beilun/Baoshan 15 70.033 -2.446

C4 150000mt Richards Bay - Rotterdam 5 33.636 -1.205

C5 150000mt W Australia - Beilun/Baoshan 15 27.559 -2.714

C7 150000mt Bolivar - Rotterdam 5 33.018 -1.546

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 117773 -8591

C9_03 172000mt Continent/Mediterranean trip Far East 5 171692 -9000

C10_03 172000mt Pacific RV 20 127615 -15000

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 86208 -6292

C12 150000mt Gladstone - Rotterdam 10 48.141 -1.564

Average of the T/C Routes 125822 -9721

Baltic Exchange Panamax Index     8346     (DOWN 141)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 71050 -950

P2A_03 74000mt SKAW-GIB/FAR EAST 25 79844 -680

P3A_03 74000mt Japan-SK/Pacific/RV 25 65548 -1635

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 52778 -1333

Average of the T/C Routes 67305 -1150

Baltic Exchange Supramax Index     5369     (UP 48)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 63555 235

S1B Canakkale Trip Far East 12.5 62602 372

S2 Japan - SK / NOPAC or Australia rv 25 56558 758

S3 Japan - SK Trip Gib - Skaw range 25 51128 450

S4A US Gulf - Skaw-Passero 12.5 73788 760

S4B Skaw-Passero - US Gulf 12.5 33775 240

Average of the T/C Routes 56136 503

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

S5 W.Africa via ECSA to FarEast 0 70645 450

S6 Jpn-SK trip via Aus/India 0 55405 337

S7 EC India - China 0 89113 1821

Baltic Exchange Handysize Index     2543     (UP 18)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 24393 522

HS2 Skaw - Passero trip Boston - Galveston 12.5 24807 514

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 45061 244

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47925 185

HS5 SE Asia trip via Australia to Singapore - Japan 25 40321 142

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 39143 100

Average of the T/C Routes 37639 244

The Daily Fixtures Report - 13/03/2008

BDI  8092 DOWN 254
BCI 10883 DOWN 777
BPI  8346 DOWN 141
BSI  5369 UP    48
BHSI 2543 UP    18

TIMECHARTER
'Scope' 2006 174008 dwt  dely Worldwide Jun/July 3 years trading redel worldwide $105000 daily - Cosco Qingdao 'Medi Hong Kong' 2006 82800 dwt  dely Taichung 15/20 Mar 2 laden legs redel Singapore-Japan rge $75000 daily - Hanjin 'Prabhu Puni' 2002 76015 dwt  dely Praia Mole 4/10 Apr  trip via Brazil redel China approx $81000 daily + $1.4 milllion bb - cnr 'Cyclades' 2000 75681 dwt  dely PMO 15/25 Apr 3 years trading redel worldwide $56000 daily - 'K' Line 'Arabella' 2001 75563 dwt  dely Guangzhou 16/18 Mar  trip via Indonesia redel Philippines $57000 daily - Golden Ocean 'Peppino D'Amato' 2005 75500 dwt  dely Trieste 25/30 Mar balance of period 5/7 months trading redel $77000 daily - Sinochart 'Cinzia D'Amato' 2000 74716 dwt  dely Cape Passero 20/21 Mar trip via River Plate redel Kosichang $81500 daily - Louis Dreyfus 'Tian Hua Feng' 2001 73996 dwt  dely Porto Vesme 14/15 Mar  trip via Ponta Da Madeira redel Ghent $72500 daily - Rizzo-Bottiglieri-De Carlini Armatori Spa 'Newcastle Max' 1997 73786 dwt  dely Yokkaichi 13/15 Mar  trip via NoPac redel Far East $69000 daily - cnr 'Antonis G.Pappadakis' 1995 73538 dwt  dely Fukuyama 13/15 Mar  trip via NoPac redel Far East $70000 daily - Cargill 'Happy Clipper' 2001 73414 dwt  dely Jiangjin 21/22 Mar balance of period Mar 19/May 19 2009 redel worldwide approx $70000 daily - Cosbulk 'Fu Kang' 1997 72437 dwt  dely Shanghai 14/18 Mar 3/5 months trading redel worldwide $73000 daily - Norden - 'Konstantinos A' 1995 71550 dwt  dely Montoir 16/22 Mar 3/5 months trading redel worldwide $75000 daily - Bunge 'Energy Rose' 1997 70257 dwt  dely Kobe 17/19 Mar  trip via NoPac redel Far East int grain $64000 daily - cnr 'Trinity' 1994 69607 dwt  dely Bourgas 25 Mar/5 Apr period up to 1/27 July redel worldwide $79500 daily - Industrial Carriers 'Big Wave' 1989 69346 dwt  dely Immingham 15/17 Mar  trip via Murmansk redel UKC $69000 daily - Armada 'First Endeavour' Rizzo-Bottiglieri-De Carlini relet 1994 69111 dwt dely Map Ta Phut 16/17 Mar  trip via West Australia redel China $66000 daily - cnr 'Summer Fortune' 1997 69034 dwt  dely S.Japan end Mar 3/5 months trading 1st leg Seward/Chile redel worldwide $72000 daily - Swiss Marine -  week> 'Sea Venus' Rizzo-Bottiglieri-De Carlini relet 1990 68849 dwt  dely psg Skaw
19/25 Mar  trip via EC South America or US Gulf redel Far East $77000 daily - Cargill 'Evrialos' 1987 68407 dwt  dely Taiwan 14/16 Mar  trip via Indonesia redel Taiwan $50000 daily - Daebo 'Tina M' Glencore relet 1982 63824 dwt  dely Recalada 2/4 Apr  trip redel Italy $56000 daily + $1.2 million bb - Bunge 'Armonikos' 1984 61748 dwt  dely Cartagena 17/20 Mar trip via Santarem redel Amsterdam $61000 daily - Cargill 'Royal Epic' 2008 55500 dwt  dely Haldia 29/31 Mar  trip redel China $99000 daily - Bagadiya Bros 'Port Melbourne' 2005 53283 dwt  dely Chennai 23/24 Mar  trip redel China $92000 daily - Trustworth Singapore 'Mutsushio'  2002 50363 dwt  dely Altamira 24/28 Mar trip via USGulf redel Far East $77000 daily - cnr 'VOC Pioneer' 1989 40908 dwt  dely Up River 25/30 Mar trip redel Continent $48500 daily + $450000 bb - cnr 'Ocean Star' 1993 28499 dwt  dely Inchon 1/20 Apr 4/6 months trading redel worldwide $38000 daily - Hanjin 'Sider Lion' 1999 24112 dwt  dely Hibikinada 16/22 Mar 3/5 months trading redel worldwide $35000 daily - Oldendorff

COAL
'Bright Century' 1997 160000/10 Newcastle/Mailiao 1/10 Apr $34.00 fio scale/35000sc - cnr 'Maddalena D'Amato' 2001 70000/10 Davant/Amsterdam 23 Mar/6 Apr $48.50 fio 25000sc/25000sc - Kleimar 'Torm Marta' 1997 65000/10 Puerto Prodeco/Brindisi 20/29 Mar $64.00 fio 15000sc/10000sc - Enel

Daily Summary of Baltic Exchange Dry Indices 12 March 2008

Baltic Exchange Dry Index TM 8346 (DOWN 214)

Baltic Exchange Capesize Index TM 11660 (DOWN 655)

Baltic Exchange Panamax Index TM 8487 (DOWN 143)

Baltic Exchange Supramax Index TM 5321 (UP 58)

Baltic Exchange Handysize Index TM 2525 (UP 22)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $135543 (DOWN 7986)

BPI   Average of the T/C routes $68455 (DOWN 1164)

BSI   Average of the T/C routes $55633 (UP 607)

BHSI  Average of the T/C routes $37395 (UP 300)

Baltic Exchange Capesize Index     11660     (DOWN 655)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 33.600 -1.182

C3 150000mt Tubarao - Beilun/Baoshan 15 72.479 -2.146

C4 150000mt Richards Bay - Rotterdam 5 34.841 -2.500

C5 150000mt W Australia - Beilun/Baoshan 15 30.273 -2.468

C7 150000mt Bolivar - Rotterdam 5 34.564 -1.127

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 126364 -5909

C9_03 172000mt Continent/Mediterranean trip Far East 5 180692 -7462

C10_03 172000mt Pacific RV 20 142615 -11616

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 92500 -6958

C12 150000mt Gladstone - Rotterdam 10 49.705 -1.668

Average of the T/C Routes 135543 -7986

Baltic Exchange Panamax Index     8487     (DOWN 143)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 72000 -1058

P2A_03 74000mt SKAW-GIB/FAR EAST 25 80524 -469

P3A_03 74000mt Japan-SK/Pacific/RV 25 67183 -1784

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 54111 -1347

Average of the T/C Routes 68455 -1164

Baltic Exchange Supramax Index     5321     (UP 58)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 63320 212

S1B Canakkale Trip Far East 12.5 62230 541

S2 Japan - SK / NOPAC or Australia rv 25 55800 965

S3 Japan - SK Trip Gib - Skaw range 25 50678 673

S4A US Gulf - Skaw-Passero 12.5 73028 608

S4B Skaw-Passero - US Gulf 12.5 33535 220

Average of the T/C Routes 55633 607

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

S5 W.Africa via ECSA to FarEast 0 70195 725

S6 Jpn-SK trip via Aus/India 0 55068 641

S7 EC India - China 0 87292 1959

Baltic Exchange Handysize Index     2525     (UP 22)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 23871 535

HS2 Skaw - Passero trip Boston - Galveston 12.5 24293 507

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44817 145

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47740 320

HS5 SE Asia trip via Australia to Singapore - Japan 25 40179 229

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 39043 222

Average of the T/C Routes 37395 300

The Daily Fixture Report 12/03/2008

BDI  8346 (DOWN 214) 
BCI 11660 (DOWN 655) 
BPI  8487 (DOWN 143)
BSI  5321 (UP    58)
BHSI 2525 (UP    22)
TIMECHARTER
'Castillo de San Juan' 1990 173198 dwt      - 
'Lydia' 1981 141435 dwt  dely Xingang 22/25 Mar  trip via West Australia redel Qingdao $90000 daily - Noble Chartering
'Fortune Princess' 2007 76635 dwt  dely Praia Mole 25/30 Mar  trip via EC South America redel Far East $82000 daily $1.5 million bb - Wilmar
'Golden Trust No.1' 1980 75594 dwt  dely PMO 21/24 Mar  trip via Iran redel China $71000 daily - Phiniqia
'Hainan' 1996 75339 dwt  dely retro Cape Passero 9 Mar  trip via Tubarao redel Gijon $73000 daily - Mittal
'Amira' 2001 74400 dwt  dely Huangpu 15/17 Mar  trip via Indonesia redel Malaysia $68000 daily - Hanjin
'Bahia Blanca' 1998 74043 dwt  dely Saleef 18/20 Mar 4/6 months trading redel worldwide $78000 daily - Oldendorff
'Lucia Bulker' STX Pan Ocean relet 1999 73807 dwt  dely Porto Vesme 15/17 Mar  trip via US Gulf redel Spain $70000 daily - Bunge
'Huang Shan Hai' 1998 73598 dwt  dely Chiba 20/22 Mar  trip via NoPac redel China int coal $65000 daily - Oldendorff
'Lacerta' 1994 71862 dwt  dely aps Mobile 29 Mar/2 Apr  trip Koper redel Cape Passero $65000 daily $1.2 million bb - Armada
'Vogewest' 1995 70728 dwt  dely Hong Kong 20/22 Mar  trip via Indonesia redel Malaysia $57000 daily - PCL
'Atlantic Sun' 1987 64201 dwt  dely Goa 20/28 Mar  trip via India redel China $90000 daily - cnr
'Leo Advance' 2007 56000 dwt  dely Haldia 20/25 Mar trip redel Far East $100000 daily - cnr
'Fratzis Star' 2005 53533 dwt  dely Lanshan 16/20 Mar 4/6 months trading redel worldwide $64000 daily - PCL
'Volme' 2004 52949 dwt  dely Japan end Mar 4/6 months trading redel worldwide $64000 daily - Norden
'Maria D' 2002 51514 dwt  dely Shibushi 17/22 Mar trip via Nopac redel Far East $60000 daily - Dreyfus
'Ero L' 2003 50347 dwt  dely Longkou 14/16 Mar  trip via N.China redel EC India int metcoke $49000 daily - cnr
'Alberta' 1984 37017 dwt  dely Liepaja 7/8 Mar trip redel USGulf $29950 daily - WBC - 
'Zoitsa' 1978 26991 dwt  dely Tuzla 15/19 Mar trip via Turkey redel Morocco $24500 daily - Coil Line (recent)
ORE
'Cape Jupiter' Cosbulk relet 1997 160000/10 Port Hedland/Qingdao 1/10 Apr $31.00 fio scale/30000sc - BHP Billiton
'Ina' 2003 160000/10 Tubarao/Qingdao 15/30 Mar $65.00 fio scale/30000sc - Spot On - 
'Aquahope' Transfield relet 1997 160000/10 Port Hedland/Qingdao 1/10 Apr $32.00 fio scale/30000sc - BHP Billiton
'Cape Venus' 1996 160000/10 Port Hedland/Qingdao 1/10 Apr $30.00 fio scale/30000sc - BHP Billiton - 
COAL
'Star Beta' 1993 150000/10 Richards Bay/Rotterdam 20/30 Mar $34.25 fio scale/25000sc - Swiss Marine

The Daily Fixtures Report - 11/03/2008

BDI  8560 DOWN  64
BCI 12315 DOWN 310
BPI  8630 UP    21
BSI  5263 UP    57
BHSI 2503 UP    20

TIMECHARTER
'Anangel Happiness' Shagang relet 2008 177720 dwt  dely Far East 5/15 Apr 6/8 months trading redel worldwide approx $155000 daily - Glory Wealth 'Castillo de San Juan' 1990 173198 dwt  dely Cape Passero 20/22 Mar trip via Brazil redel China $134000 daily - Cargill 'Setsuyo Star' 1985 170808 dwt  dely retro Xingang 19 Mar  trip via Brazil redel China $112000 daily - Noble Chartering 'C.Royal' 1996 151044 dwt  dely Far East 1/15 May 1 years trading redel worldwide $125000 daily - STX Pan Ocean 'Bulk Japan' 82795 dwt  dely Fukuyama 10/12 Mar 2 laden legs 1st leg sulphur redel worldwide $77000 daily - BHP Billiton 'Ariana' 2005 76631 dwt  dely Qingdao 13/15 Mar 5/7 months trading redel worldwide $76000 daily - Oldendorff 'Ocean Wind' 2005 76619 dwt  dely Onahama 14/16 Mar  trip via Dalrymple Bay redel Inchon $74000 daily - STX Pan Ocean 'Red Jasmine' 2006 76596 dwt  dely Aden 15/16 Mar  trip via WC India redel China $90000 daily - IMC 'Mahitis' 2001 76314 dwt  dely Rizhao 16/22 Mar 4/6 months trading redel worldwide $76000 daily - Crownland 'Maritime Harmony' 2008 76302 dwt  dely Kosichang 8/9 Mar  trip via EC India redel Far East $81250 daily - cnr 'Evanthia' United relet 2001 74297 dwt  dely retro Taiwan 6 Mar 3/4 months trading redel worldwide $73500 daily - Norden 'Bunga Saga 9' 1999 73127 dwt  dely Worldwide May 2.5 years trading redel worldwide $57500 daily - Skaarup Fortune 'Apostolos' 1995 70119 dwt  dely Kaohsiung 16/18 Mar  Pacific round abt 40 days redel Singapore-Japan rge $60000 daily - Daebo - <06/03> 'Samsun Claret' 1987 69235 dwt  dely retro Kwangyang 1 Mar  trip via WC India redel China $40000 daily - Jaldhi - 'Mara' 1989 64850 dwt  dely Tilbury 10/13 Mar  trip via Nouadhibou redel Antwerp $58000 daily - cnr 'Dubai Knight' 2007 55300 dwt  dely Mississippi River 25/28 Mar trip redel Far East approx $87000 daily - cnr 'Port Maubert' newbuilding 53500 dwt  dely Chengxi 24/25 Mar 4/6 months trading redel worldwide $62000 daily - Daeyang 'Kang Sheng' 2002 52828 dwt  dely Hachinohe 23/25 Mar 4/6 months trading redel worldwide $62000 daily - cnr 'Kang Huan' 2004 52810 dwt  dely Nemrut Bay retro 7 Mar trip via Brazil redel Far East $63250 daily - cnr 'Ocean Prince' 2002 52475 dwt  dely Villanueva 15/17 Mar trip via Australia redel Taiwan $68000 daily - CSE 'Marylisa V' 2003 52174 dwt  dely Pohang 15/20 Mar 2 laden legs redel Far East $65000 daily - cnr 'Leros' 1985 42083 dwt  dely Tampico 14/15 Mar trip via USGulf redel Turkey $58500 daily - STX Pan Ocean

ORE
'Cape Venus' 1996 180000/10 Goa/Kwangyang and/or Pohang 1/15 Apr $44.10 fio scale/60000sc - POSCO 'C.Corsier' 1991 150000/10 Dampier/Qingdao 1/15 Apr $33.50 fio scale/30000sc - Constellation

The Daily Fixtures Report - 10/03/2008

BDI  8624 UP  88
BCI 12625 UP 167
BPI  8609 UP  42
BSI  5206 UP  59
BHSI 2483 UP  25

TIMECHARTER
'Mineral Nippon' 2007 203725 dwt  dely Cape Passero ely Apr  trip via Ponta Da Madeira redel Gijon $160000 daily - Cetragpa 'Lowlands Phoenix' 2004 177036 dwt  dely Cape Passero 20/22 Mar transatlantic round redel Skaw-Cape Passero $135000 daily - Cargill 'Star Europe' 1986 170698 dwt  dely retro Rizhao 5 Mar  trip via W.Australia redel China $127000 daily - Rio Tinto -  the ship fixing to CSE> 'Samsun Danjing' ex Tiger Lily 1995 149190 dwt  dely S.Japan 20/21 Mar trip via Australia redel Singapore-Japan $135000 daily - Constellation 'Bergen Trader' 2000 75933 dwt  dely Mobile 29 Mar/4 Apr  trip via Egypt redel Cape Passero $72000 daily + $1.2 million bb - Louis Dreyfus 'Avax' 2005 75399 dwt  dely Cape Passero 20/22 Mar 9/11 months trading redel worldwide $77000 daily - Michele D'Amato 'Miden Max' 1993 73767 dwt  dely Hong Kong spot  trip via Indonesia redel Italy $53000 daily - Flame
'Helena' 1999 73744 dwt      -  Alcan>
'Padre' KBS relet 2004 73613 dwt  dely Japan ely Apr balance of period
6/7
months trading redel worldwide $75500 daily - cnr 'Ocean Pride' Norden relet 1997 72416 dwt  dely Gijon 14/15 Mar  trip via EC South America redel Far East $81500 daily - Alfred C.Toepfer 'Beauty Sea' 1991 69347 dwt  dely Flushing 10/15 Mar 2 laden legs redel Skaw-Cape Passero $73500 daily - Bunge 'Joyous World' 1995 69286 dwt  dely Stade 10/17 Mar 4/5 months trading redel worldwide $75500 daily - Oldendorff 'Seaflower' 1995 69128 dwt  dely Qinhuangdao 8/10 Mar  trip via N.China redel Skaw-Cape Passero $49000 daily - cnr 'Port Moresby' 2002 53553 dwt  dely Kandla 16/25 March 3/5 months trading redel worldwide approx $64000 daily - cnr 'Navios Astra' 2006 53468 dwt  dely Shanghai 12/14 March 12 months trading redel worldwide $60500 daily - Oldendorff 'Merlin' 2001 50296 dwt  dely Dumai spot balance of period 18 months trading redel worldwide approx $60000 daily - Cosbulk 'Globetrotter' 2001 48000 dwt  dely Arabian Gulf 14/20 March 12/14 months trading redel worldwide approx $59000 daily - STX Pan Ocean 'Genco Success' 1997 47000 dwt  dely Japan spot 3/5 months trading redel worldwide approx $55000 daily - Oldendorff 'Great Peace' 1996 45259 dwt  dely North China 18/20 March 3/5 months trading redel worldwide approx $57000 daily - cnr 'Team Spirit' 1984 37593 dwt  dely retro Casablanca 4 Mar trip via Laayoune redel Coatzacoalcos $32500 daily first 27 days $50000 daily balance - TGP 'Alberta' 1984 37017 dwt  dely Baltic spot  trip redel USGulf approx $29000 daily - WBC 'Allstar' 1990 28493 dwt  dely La Pallice 10/11 Mar trip via UK/Continent redel Turkey approx $35000 daily - EMR 'Captain Aysuna' 1986 26914 dwt  dely Bejaia 9/15 Mar 70/115 days trading redel Atlantic $34000 daily - cnr (fixed recently)

ORE
'Cosco Hong Kong TBN' 170000/10 Guaiba/Taranto 17/31 Mar $33.00 fio 7 days sc - Ilva

Daily Summary of Baltic Exchange Dry Indices 7 March 2008

 

Baltic Exchange Dry Index TM 8536 (UP 133)

Baltic Exchange Capesize Index TM 12458 (UP 173)

Baltic Exchange Panamax Index TM 8567 (UP 184)

Baltic Exchange Supramax Index TM 5147 (UP 67)

Baltic Exchange Handysize Index TM 2458 (UP 24)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $144641 (UP 2030)

BPI   Average of the T/C routes $69117 (UP 1492)

BSI   Average of the T/C routes $53815 (UP 701)

BHSI Average of the T/C routes $36414 (UP 332)

Baltic Exchange Capesize Index     12458     (UP 173)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 34.445 0.336

C3 150000mt Tubarao - Beilun/Baoshan 15 74.979 1.037

C4 150000mt Richards Bay - Rotterdam 5 37.455 0.637

C5 150000mt W Australia - Beilun/Baoshan 15 33.864 0.523

C7 150000mt Bolivar - Rotterdam 5 35.432 0.400

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 130773 1091

C9_03 172000mt Continent/Mediterranean trip Far East 5 188204 2559

C10_03 172000mt Pacific RV 20 158962 2847

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 100625 1625

C12 150000mt Gladstone - Rotterdam 10 51.745 0.472

Average of the T/C Routes 144641 2030

Baltic Exchange Panamax Index     8567     (UP 184)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 72413 1588

P2A_03 74000mt SKAW-GIB/FAR EAST 25 80575 1025

P3A_03 74000mt Japan-SK/Pacific/RV 25 68190 2000

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 55292 1356

Average of the T/C Routes 69117 1492

Baltic Exchange Supramax Index     5147     (UP 67)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62395 770

S1B Canakkale Trip Far East 12.5 60980 397

S2 Japan - SK / NOPAC or Australia rv 25 53094 1240

S3 Japan - SK Trip Gib - Skaw range 25 48500 717

S4A US Gulf - Skaw-Passero 12.5 71225 194

S4B Skaw-Passero - US Gulf 12.5 32733 336

Average of the T/C Routes 53815 701

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

S5 W.Africa via ECSA to FarEast 0 68000 2286

S6 Jpn-SK trip via Aus/India 0 52868 1108

S7 EC India - China 0 79377 5441

Baltic Exchange Handysize Index     2458     (UP 24)

route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 22800 392

HS2 Skaw - Passero trip Boston - Galveston 12.5 23479 454

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44394 -181

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47225 -3

HS5 SE Asia trip via Australia to Singapore - Japan 25 38893 476

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 37814 522

Average of the T/C Routes 36414 332

The Daily Fixtures Report - 07/03/2008

BDI  8536 UP 133
BCI 12458 UP 173
BPI  8567 UP 184
BSI  5147 UP  67
BHSI 2458 UP  24

TIMECHARTER
'Star Sigma' 1991 184000 dwt  dely Worldwide Apr 2009 3 years trading redel worldwide $63000 daily - Pacific Bulk 'Mineral Monaco'  2005 180263 dwt  dely Cape Passero 25/27 Mar  trip via Brazil redel China $185000 daily - Louis Dreyfus 'Genco Augustus' Cargill relet 2007 180151 dwt  dely Immingham 11/13 Mar  trip via Brazil rdel China approx $130000 daily - Arcelor-Mittal 'Iron Miner' 2007 177932 dwt  dely Qindao 16/20 Mar  trip via West Australia redel China $160000 daily - Rio Tinto 'Orient Angel' 2007 176859 dwt  dely Carboneras 13/14 Mar  trip via Brazil redel China $200000 daily - Glory Wealth 'Mona Century' 2000 172083 dwt  dely Rotterdam 17/20 Mar  trip via Brazil redel Far East $180000 daily - SK Shipping 'Navios TBN' newbuilding 170000 dwt  dely ex Yard Sundong Oct/Dec 2009 10 years trading redel worldwide $40000 daily nett - Pacific King
'China Steel Developer' 1998 154566 dwt      -  Hanjin>
'Falcon Cape' 1991 150940 dwt  dely Dampier 14/16 Mar  trip redel China $145000 daily + $1.75 million bb - Rio Tinto 'Dong-A Helios' 146939 dwt  dely Pohang 16/18 Mar  trip via West Australia redel China $115000 daily - Glory Wealth
'Kamsar Gold' 2006 82795 dwt      -
'Agia Filothei' 1988 79764 dwt  dely Spanish Med 12/15 Mar  trip via Nouadhibou redel China $74000 daily - Cosco Europe 'Clara' 2006 77073 dwt  dely Goa 20/25 Mar  trip redel China $102000 daily - Jaldhi 'RBD Capri' 2008 77000 dwt  dely Qingdao 17/25 Mar 1 years trading redel worldwide $73000 daily - Cosco USA 'Belgrano' Sinochart relet 2004 76759 dwt  dely Skaw-Cape Passero 25/30 Mar 1 years trading redel worldwide $77000 daily - Glory Wealth 'Salvatore Cafiero' 2001 75668 dwt  dely Atlantic 20/30 Apr 2 years trading redel worldwide $62000 daily - Deiulemar - 'Arabella' 2001 75563 dwt  dely Huangpu 19/21 Mar 1 years trading redel worldwide $74000 daily - STX Pan Ocean
'Elpis' 2001 75169 dwt      -
'Afovos' 2001 74297 dwt  dely Kwangyang 17/23 Mar 4/6 months trading redel worldwide $76000 daily - Cargill 'Diamond Seas' 2001 74247 dwt  dely Santos 2/10 Apr  trip redel Far East $80000 daily + $1.6 million bb - Dreyfus 'Lucia Bulker' 1999 73907 dwt  dely Porto Vesme 12/14 Mar 1 years trading redel worldwide $77000 daily - STX Pan Ocean 'Catriena' 1998 73829 dwt  dely Rotterdam 9/14 Mar  trip via Baltic redel Skaw-Cape Passero (breaking IWL) $72500 daily - Glencore 'Elinakos' 1997 73751 dwt  dely Onahma 8/12 Mar 11/13 months trading redel worldwide $72000 daily - STX Pan Ocean 'C.Journey' 1995 73095 dwt  dely Fos 18/20 Mar 6/8 months trading redel worldwide $77000 daily - Glory Wealth 'Royal Ocean' 1995 70677 dwt  dely ex drydock China 25/30 Apr 1 years trading redel worldwide $68000 daily - Deiulemar 'Full Beauty' 1994 70198 dwt  dely Paradip 19/21 Mar  trip via India redel China $90000 daily - cnr
'Lavadara' 1996 69091 dwt      -
'Sun Harvest' 1982 64714 dwt  dely US Gulf 22/24 Mar  trip redel S.Korea $65000 daily $1.2 million bb - Daewoo Logistics Ilenao' 1987 64448 dwt  dely Port Said 8/13 Mar  trip via Black Sea & Saudi Arabia redel PMO $69000 daily - Glencore - 'Dong Sheng Ocean' 1981 61393 dwt  dely Bin Qasim 17/25 Mar  trip via WC India redel China $65000 daily - cnr 'New Valente' 2008 nbldg 56678 dwt  dely Yokohama spot  trip via Nopac redel Singapore-Japan approx $55000 daily - cnr 'Medi Dublin' 2005 56040 dwt  dely Haldia 12/15 March  trip redel China approx $100000 daily - Indian charterer 'Sealuck 2' 2004 55452 dwt  dely Longkou 9/15 March  trip via South-east Asia redel China $52500 daily - cnr 'Tai Hunter' 2007 55300 dwt  dely Paranagua 10/20 Mar trip redel Far East approx $68000 daily + $800000 bb - Raffles 'Chryssa K' 2002 51535 dwt  dely Jacksonville 15/20 March  2 laden legs via West Coast South America redel USEC/USGulf $59000 daily - Norden 'Curia' 2001 51029 dwt  dely Boston 11/13 March 6/7 months tradiing redel worldwide $64500 daily - Swiss Marine 'Desert Hawk' 1999 50327 dwt  dely Japan 8/11 March 3/5 months trading redel worldwide $62500 daily - BHP Billiton 'BJ Queen' 1985 26587 dwt  dely Algeria prompt 3/5 months trading redel worldwide approx $34500 - Bunge

ORE
'Aquabreeze' Constellation relet 2003 160000/10 Ponta Da Madeira/Dunkirk west & east 13/27 Mar $30.35 fio scale/25000sc - Elcano

Daily Summary of Baltic Exchange Dry Indices 6 March 2008

 

Baltic Exchange Dry Index TM 8403 (UP 241)

Baltic Exchange Capesize Index TM 12285 (UP 422)

Baltic Exchange Panamax Index TM 8383 (UP 316)

Baltic Exchange Supramax Index TM 5080 (UP 42)

Baltic Exchange Handysize Index TM 2434 (UP 28)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $142611 (UP 4768)

BPI   Average of the T/C routes $67625 (UP 2588)

BSI   Average of the T/C routes $53114 (UP 436)

BHSI  Average of the T/C routes $36082 (UP 433)

Baltic Exchange Capesize Index     12285     (UP 422)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 34.109 0.582

C3 150000mt Tubarao - Beilun/Baoshan 15 73.942 1.142

C4 150000mt Richards Bay - Rotterdam 5 36.818 2.204

C5 150000mt W Australia - Beilun/Baoshan 15 33.341 1.382

C7 150000mt Bolivar - Rotterdam 5 35.032 0.637

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 129682 1455

C9_03 172000mt Continent/Mediterranean trip Far East 5 185645 3709

C10_03 172000mt Pacific RV 20 156115 10115

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 99000 3792

C12 150000mt Gladstone - Rotterdam 10 51.273 0.932

Average of the T/C Routes 142611 4768

Baltic Exchange Panamax Index     8383     (UP 316)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 70825 1955

P2A_03 74000mt SKAW-GIB/FAR EAST 25 79550 1160

P3A_03 74000mt Japan-SK/Pacific/RV 25 66190 4177

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 53936 3061

Average of the T/C Routes 67625 2588

Baltic Exchange Supramax Index     5080     (UP 42)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 61625 830

S1B Canakkale Trip Far East 12.5 60583 175

S2 Japan - SK / NOPAC or Australia rv 25 51854 446

S3 Japan - SK Trip Gib - Skaw range 25 47783 301

S4A US Gulf - Skaw-Passero 12.5 71031 621

S4B Skaw-Passero - US Gulf 12.5 32397 370

Average of the T/C Routes 53114 436

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

S5 W.Africa via ECSA to FarEast 0 65714 2959

S6 Jpn-SK trip via Aus/India 0 51760 437

S7 EC India - China 0 73936 1409 

Baltic Exchange Handysize Index     2434     (UP 28)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 22408 279

HS2 Skaw - Passero trip Boston - Galveston 12.5 23025 418

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44575 -36

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47228 28

HS5 SE Asia trip via Australia to Singapore - Japan 25 38417 667

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 37292 721

Average of the T/C Routes 36082 433

The Daily Fixtures Report - 06/03/2008

BDI  8403 UP 241
BCI 12285 UP 422
BPI  8383 UP 316
BSI  5080 UP  42
BHSI 2434 UP  28

TIMECHARTER
'C.Triumph' 1999 196883 dwt  dely Nantong 10/12 Mar  trip via West Australia redel China $160000 daily - BHP Billiton 'Ocean Shine' 2005 180201 dwt  dely Rizhao 13/15 Mar  trip via West Australia redel Japan $150000 daily - MOSK 'Lowlands Orchid' 2005 176193 dwt  dely Qingdao 15/17 Mar  trip via West Australia redel China $140000 daily - Constellation 'Star Europe' 1985 170698 dwt  dely Rizhao spot  trip via West Australia redel Taiwan $130000 daily - CSE 'Mineral Water' 1999 170201 dwt  dely Dunkirk 10/19 Mar  transatlantic round redel Skaw-Cape Passero $125000 daily - Arcelor Mittal 'Alpha Cosmos' 2001 169710 dwt  dely retro Bayuquan 24 Feb 3/5 months trading redel worldwide $140000 daily - Swiss Marine 'Anangel Ambition' Cosbulk relet 1994 161587 dwt  dely Fangcheng 15/17 Mar  trip via West Australia redel China $153000 daily - BHP Billiton 'C. March' 1995 151053 dwt  dely Pohang 12/14 Mar  trip via West Australia redel Japan $130000 daily - NYK 'Kamsar Gold' 2006 82795 dwt  dely Lianyungang 10/15 Mar  trip via EC Australia redel Japan $65000 daily - 'K' Line
'Coral Diamond' 2007 76596 dwt      -
'Elpis' 2001 75169 dwt  dely Cape Passero 15/17 Mar 2 laden legs redel Skaw-Cape Passero - ABT 'Avra' 2001 75169 dwt  dely Hong Kong in d/c 18/20 Mar 5/7 months trading redel worldwide $70000 daily - Norden 'Alkyon' 2001 74875 dwt  dely Samcheonpo 7/12 Mar 4/6 months trading redel worldwide $71000 daily - STX Pan Ocean 'Anna Smile' 2004 74873 dwt  dely N.China Mar/Apr 1 years trading redel worldwide $75000 daily - STX Pan Ocean 'Three Stars' 2005 74759 dwt  dely PMO 7/12 Mar  trip via WC India redel China $84000 daily - Brownstone 'Ecostar G.O.' 2007 74500 dwt  dely Portbury 9/10 Mar 4/6 months trading redel worldwide $78000 daily - Louis Dreyfus 'Helena' 1999 73744 dwt  dely Tarragona 15/20 Mar 2 laden legs 1st via St.Lawrence redel Skaw-Cape Passero $81000 daily - Alcan 'Lotus Sun' ex Anangel Enosis 1995 73556 dwt  dely Tarragona 25 Mar/3 Apr 1 years trading redel worldwide $73500 daily - Cosco 'La Jolla' 1997 72126 dwt  dely Inchon 6/10 Mar  trip via Australia redel Singapore-Japan rge $62500 daily - Daebo 'TPC Arirang' Norden relet 1994 71535 dwt  dely Annaba 12/16 Mar  trip via River Plate redel Aden-PMO $77500 daily - STX Pan Ocean 'Trenton' Rizzo-Bottiglieri-De Carlini Armatori relet 1995 71119 dwt dely PMO 18/20 Mar  trip via WC India redel China $89500 daily - Metchart 'Hanjin Tacoma' 1994 70347 dwt  dely Sual 9/13 Mar  trip via Indonesia redel China $65000 daily - NCS 'Golden Jasmine' 1994 70044 dwt  dely Rizhao 10/14 Mar balance of period up to
15 May redel worldwide $52500 daily - Daebo 'Lavadara' 1996 69091 dwt  dely Taiwan 8/9 Mar 3/5 months trading redel worldwide $68000 daily - cnr 'Dignity T' 1984 63695 dwt  dely Lanshan 10/14 Mar  trip via Indonesia redel Mumbai $57000 daily - Mercator Lines 'Emmanuel C' new building 58470 dwt  dely ex yard Zhoushan 15/30 Mar 2 years trading redel worldwide $55000 daily - Korea Line 'Sea Lantana' 2004 52471 dwt  dely Jintan 10/12 March 3/5 months trading redel worldwide $61500 daily - Armada 'Global Escort' 1998 28482 dwt  dely Skikda spot  trip redel USGulf $23000 daily
- cnr

ORE
'Pacific Prosperity'  MOSK relet 1998 160000/10 Saldanha Bay/Redcar & Immingham 19/30 Mar $38.50 fio 7 days sc - Neu 'Transfield TBN' 150000/10 Ponta Da Madeira/Qingdao 1/10 Apr $74.50 fio scale/30000sc - SK Shipping 'Front Leader' obo 1991 140000/10 Guaiba/Zhanjiang 25 Mar/4 Apr $69.50 fio scale/30000sc - Pioneer Metals 'Swiss Marine TBN' 140000/10 Pointe Noire/Iskenderun 10/20 Apr $47.00 fio scale/25000sc - Erdemir 'GH Resources' 1990 110000/10 Tubarao/Qingdao 20 Mar/5 Apr $73.00 fio scale/30000sc - Noble

COAL
'RWE TBN' 150000/10 Richards Bay/Rotterdam 5/19 Apr $37.50 fio scale/25000sc - Cargill 'Lalis' 2001 40000/10 Norfolk/Ploce 12/17 March approx $48.00 20000sc/10000sc - Mittal

Daily Summary of Baltic Exchange Dry Indices 5 March 2008

Baltic Exchange Dry Index TM 8162 (UP 169)

Baltic Exchange Capesize Index TM 11863 (UP 193)

Baltic Exchange Panamax Index TM 8067 (UP 337)

Baltic Exchange Supramax Index TM 5038 (UP 13)

Baltic Exchange Handysize Index TM 2406 (UP 21)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI   Average of the T/C routes $137843 (UP 2436)

BPI   Average of the T/C routes $65037 (UP 2798)

BSI   Average of the T/C routes $52678 (UP 136)

BHSI  Average of the T/C routes $35649 (UP 314)

Baltic Exchange Capesize Index     11863     (UP 193)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 33.527 0.472

C3 150000mt Tubarao - Beilun/Baoshan 15 72.800 0.696

C4 150000mt Richards Bay - Rotterdam 5 34.614 0.478

C5 150000mt W Australia - Beilun/Baoshan 15 31.959 0.641

C7 150000mt Bolivar - Rotterdam 5 34.395 0.440

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 128227 1591

C9_03 172000mt Continent/Mediterranean trip Far East 5 181936 2938

C10_03 172000mt Pacific RV 20 146000 3423

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 95208 1791

C12 150000mt Gladstone - Rotterdam 10 50.341 0.523

Average of the T/C Routes 137843 2436

Baltic Exchange Panamax Index     8067     (UP 337)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 68870 760

P2A_03 74000mt SKAW-GIB/FAR EAST 25 78390 650

P3A_03 74000mt Japan-SK/Pacific/RV 25 62013 3823

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 50875 5958

Average of the T/C Routes 65037 2798

Baltic Exchange Supramax Index     5038     (UP 13)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 60795 209

S1B Canakkale Trip Far East 12.5 60408 41

S2 Japan - SK / NOPAC or Australia rv 25 51408 370

S3 Japan - SK Trip Gib - Skaw range 25 47482 -50

S4A US Gulf - Skaw-Passero 12.5 70410 55

S4B Skaw-Passero - US Gulf 12.5 32027 138

Average of the T/C Routes 52678 136

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

S5 W.Africa via ECSA to FarEast 0 62755 664

S6 Jpn-SK trip via Aus/India 0 51323 568

S7 EC India - China 0 72527 860

Baltic Exchange Handysize Index     2406     (UP 21)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 22129 229

HS2 Skaw - Passero trip Boston - Galveston 12.5 22607 257

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44611 -6

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47200 -10

HS5 SE Asia trip via Australia to Singapore - Japan 25 37750 486

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 36571 535

Average of the T/C Routes 35649 314

The Daily Fixtures Report - 05/03/2008

BDI  8162 UP 169
BCI 11863 UP 193
BPI  8067 UP 337
BSI  5038 UP  13
BHSI 2406 UP  21

TIMECHARTER
'Manasota' 2004 171071 dwt  dely Worldwide Mar/Apr 2008 2 years trading redel worldwide $115000 daily - NSS
'Nightflight' 2004 170012 dwt      -  Rio Tinto not BHP Billiton>
'China Steel Developer' 1998 154566 dwt  dely Rotterdam 15/17 Mar transatlantic round redel Skaw-Cape Passero $115000 daily - cnr 'Barock' 2007 82688 dwt  dely Lianyungang 5/7 Mar  trip via EC Australia redel Japan $66000 daily - MOSK 'Iron Brooke' 2007 82191 dwt  dely Tobata 7/8 Mar  trip via Newcastle redel Japan $64000 daily - 'K' Line 'GB Corrado' newbuilding 77000 dwt  dely ex yard Oshima 14/16 Mar  trip via Roberts Bank redel Continent $56000 daily 1st 50 days & $75000 daily for balance
- Deiulemar
'Belisland' 2003 76602 dwt  dely Ghent 6/8 Mar 4/6 months trading redel worldwide includes option California block stow $82000 daily - Swiss Marine 'Coral Diamond' 2007 76596 dwt  dely Kashima 12/14 Mar  trip via Roberts Bank redel Continent $55000 daily - Oldendorff 'Katerina' 2004 76015 dwt  dely San Nicolas 19/24 Mar  trip via EC South America redel Singapore-Japan rge $77000 daily + $1.75 bb - Noble - 'Maganari' Glory Wealth relet 2001 75941 dwt  dely retro Xingang 3 Mar trip via Indonesia redel Skaw-Cape Passero $41000 daily - Cargill 'Nordrhine' 2001 75323 dwt  dely Cape Passero 3/6 Mar 11/13 months trading redel worldwide $72000 daily - Glory Wealth 'Maria Bottiglieri' Skarrup Fortune relet 1995 75265 dwt  dely retro Amsterdam
25 Feb  trip via Colombia redel Skaw-Cape Passero $63000 daily - Deiulemar 'Anna Smile' 2004 74823 dwt  dely Aden 4/5 Mar  trip via WC India redel China $80000 daily - NCS 'Angelic Grace' 2001 74750 dwt  dely Xingang 11/13 Mar 3/5 months trading redel worldwide $72500 daily - Dreyfus 'Medi Tokyo' 1999 74356 dwt  dely Mundra 11/12 Mar  trip via WC India redel China $83000 daily - Noble 'Bruno Salamon' 1998 73968 dwt  dely PMO 15/30 Mar 2 years trading redel worldwide $62000 daily - Cosco 'Anangel Omonia' relet 1996 73500 dwt  dely El Dekheila 14/20 Mar 4/6 months trading 1st leg steel slabs from Black Sea redel worldwide $75500 daily
- Bunge
'Christina IV' 2000 72493 dwt  dely Skaw-Cape Passero 1 Apr/10 Jun 3 years trading redel worldwide $68000 daily 1st year, $57000 daily 2nd year & $40000 daily 3rd year - Korea Line 'Esna' 1998 71598 dwt  dely PMO 11/13 Mar  trip via WC India redel China $75000 daily - Metchart 'Hanjin Tacoma' 1994 70337 dwt  dely Sual 9/13 Mar  trip via Indonesia redel Singapore-Japan rge $65000 daily - NCS 'Full Strong' 1994 70171 dwt  dely Aden 10/18 Mar  trip via WC India redel China $71000 daily - Brownstone 'Bao Shan Hai' 1991 64910 dwt  dely Hong Kong 8/10 Mar  trip via Indonesia redel S.Korea $48000 daily - cnr 'Santa Anna' 2006 56042 dwt  dely Rizhao 13/15 March  trip via South-east Asia redel China approx $55000 daily - Tong Li 'Yuan Ping Sea' 2004 55000 dwt  dely USGulf 12/14 March  trip redel Singapore-Japan approx $75000 daily - Korean charterer 'Furness London' 2006 53472 dwt  dely Tuticorin 12/14 March  trip via India redel China $66000 daily - Noble 'Triple Ever' 2005 52454 dwt  dely Haldia 12/14 March  trip redel China $80000 daily - Noble Hong Kong 'Ince Inebolu' 2002 52376 dwt  dely Japan 12/14 March  trip redel USGulf approx $39000 daily - cnr - 'Maria Th' 1996 45622 dwt  dely Kashima 13/19 March 4/6 months trading redel worldwide $56000 daily - Norden 'Seagate' 1989 28836 dwt  dely Casablanca 14/20 Mar 2/3 laden legs redel Atlantic $36000 daily - Bunge

COAL
'IVS Pinotage' 2005 70000/10 Norfolk/Gijon 17/31 Mar $35.00 fio 5 days sc - Cobelfret