Daily Summary of Baltic Exchange Dry Indices 1 April 2008

Baltic Exchange Dry Index TM 7890 (DOWN 191)

Baltic Exchange Capesize Index TM 11511 (DOWN 482)

Baltic Exchange Panamax Index TM 7767 (DOWN 100)

Baltic Exchange Supramax Index TM 4792 (DOWN 35)

Baltic Exchange Handysize Index TM 2392 (DOWN 25)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $134427 (DOWN 5312)

BPI    Average of the T/C routes $62586 (DOWN 813)

BSI    Average of the T/C routes $50110 (DOWN 366)

BHSI  Average of the T/C routes $35006 (DOWN 422)

Baltic Exchange Capesize Index     11511     (DOWN 482)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 34.714 -0.636

C3 150000mt Tubarao - Beilun/Baoshan 15 75.146 -1.392

C4 150000mt Richards Bay - Rotterdam 5 37.523 -2.136

C5 150000mt W Australia - Beilun/Baoshan 15 28.000 -2.050

C7 150000mt Bolivar - Rotterdam 5 35.805 -0.613

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 129000 -2636

C9_03 172000mt Continent/Mediterranean trip Far East 5 185885 -4307

C10_03 172000mt Pacific RV 20 131115 -9847

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 91708 -4459

C12 150000mt Gladstone - Rotterdam 10 49.482 -1.363

Average of the T/C Routes 134427 -5312

Baltic Exchange Panamax Index     7767     (DOWN 100)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 66800 -641

P2A_03 74000mt SKAW-GIB/FAR EAST 25 77438 -780

P3A_03 74000mt Japan-SK/Pacific/RV 25 58667 -1263

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 47439 -567

Average of the T/C Routes 62586 -813

Baltic Exchange Supramax Index     4792     (DOWN 35)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62613 -147

S1B Canakkale Trip Far East 12.5 61950 -191

S2 Japan - SK / NOPAC or Australia rv 25 42227 -1165

S3 Japan - SK Trip Gib - Skaw range 25 40340 -1290

S4A US Gulf - Skaw-Passero 12.5 78013 2543

S4B Skaw-Passero - US Gulf 12.5 33170 -225

Average of the T/C Routes 50110 -366

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

S5 W.Africa via ECSA to FarEast 0 66078 -1232

S6 Jpn-SK trip via Aus/India 0 41982 -1723

S7 EC India - China 0 70625 -9708

Baltic Exchange Handysize Index     2392     (DOWN 25)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 26593 257

HS2 Skaw - Passero trip Boston - Galveston 12.5 26929 229

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 42911 -200

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 46900 -95

HS5 SE Asia trip via Australia to Singapore - Japan 25 34700 -757

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 33657 -1029

Average of the T/C Routes 35006 -422