Daily Summary of Baltic Exchange Dry Indices 3 April 2008

Baltic Exchange Dry Index TM 7690 (UP 35)

Baltic Exchange Capesize Index TM 11158 (UP 206)

Baltic Exchange Panamax Index TM 7546 (DOWN 38)

Baltic Exchange Supramax Index TM 4742 (DOWN 26)

Baltic Exchange Handysize Index TM 2347 (DOWN 22)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $129920 (UP 2265)

BPI    Average of the T/C routes $60763 (DOWN 334)

BSI    Average of the T/C routes $49582 (DOWN 276)

BHSI   Average of the T/C routes $34262 (DOWN 366)

Baltic Exchange Capesize Index     11158     (UP 206)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 34.359 0.350

C3 150000mt Tubarao - Beilun/Baoshan 15 72.833 1.262

C4 150000mt Richards Bay - Rotterdam 5 35.909 0.432

C5 150000mt W Australia - Beilun/Baoshan 15 27.250 1.136

C7 150000mt Bolivar - Rotterdam 5 35.441 0.318

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 126636 1636

C9_03 172000mt Continent/Mediterranean trip Far East 5 180500 3808

C10_03 172000mt Pacific RV 20 125000 2654

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 87542 959

C12 150000mt Gladstone - Rotterdam 10 47.959 0.118

Average of the T/C Routes 129920 2265

Baltic Exchange Panamax Index     7546     (DOWN 38)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 66053 490

P2A_03 74000mt SKAW-GIB/FAR EAST 25 76558 283

P3A_03 74000mt Japan-SK/Pacific/RV 25 55493 -1197

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 44950 -911

Average of the T/C Routes 60763 -334

Baltic Exchange Supramax Index     4742     (DOWN 26)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62370 -155

S1B Canakkale Trip Far East 12.5 61568 -259

S2 Japan - SK / NOPAC or Australia rv 25 40838 -462

S3 Japan - SK Trip Gib - Skaw range 25 38690 -760

S4A US Gulf - Skaw-Passero 12.5 80815 875

S4B Skaw-Passero - US Gulf 12.5 32845 -225

Average of the T/C Routes 49582 -276

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

S5 W.Africa via ECSA to FarEast 0 64528 -747

S6 Jpn-SK trip via Aus/India 0 40455 -481

S7 EC India - China 0 62896 -1646 

Baltic Exchange Handysize Index     2347     (DOWN 22)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 26814 200

HS2 Skaw - Passero trip Boston - Galveston 12.5 27100 136

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 43261 386

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 46990 34

HS5 SE Asia trip via Australia to Singapore - Japan 25 32964 -893

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 32000 -950

Average of the T/C Routes 34262 -366