Daily Summary of Baltic Exchange Dry Indices 8 April 2008

Baltic Exchange Dry Index TM 7754 (UP 13)

Baltic Exchange Capesize Index TM 11349 (DOWN 5)

Baltic Exchange Panamax Index TM 7614 (UP 60)

Baltic Exchange Supramax Index TM 4718 (DOWN 10)

Baltic Exchange Handysize Index TM 2324 (DOWN 4)

Daily Summary of the Baltic Exchange Time Charter Routes

  Rate($/Day) Change

BCI    Average of the T/C routes $131754 (DOWN 294)

BPI    Average of the T/C routes $61288 (UP 487)

BSI    Average of the T/C routes $49333 (DOWN 108)

BHSI   Average of the T/C routes $33842 (DOWN 86)

Baltic Exchange Capesize Index     11349     (DOWN 5)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 34.327 -0.132

C3 150000mt Tubarao - Beilun/Baoshan 15 73.300 -0.117

C4 150000mt Richards Bay - Rotterdam 5 36.295 -0.205

C5 150000mt W Australia - Beilun/Baoshan 15 28.691 0.159

C7 150000mt Bolivar - Rotterdam 5 35.314 -0.218

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 126227 -1000

C9_03 172000mt Continent/Mediterranean trip Far East 5 182808 -1000

C10_03 172000mt Pacific RV 20 129500 885

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 88479 -63

C12 150000mt Gladstone - Rotterdam 10 48.209 -0.091

Average of the T/C Routes 131754 -294

Baltic Exchange Panamax Index     7614     (UP 60)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 67303 483

P2A_03 74000mt SKAW-GIB/FAR EAST 25 78518 880

P3A_03 74000mt Japan-SK/Pacific/RV 25 54690 -12

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 44642 598

Average of the T/C Routes 61288 487

Baltic Exchange Supramax Index     4718     (DOWN 10)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 62198 38

S1B Canakkale Trip Far East 12.5 61041 -150

S2 Japan - SK / NOPAC or Australia rv 25 40338 -70

S3 Japan - SK Trip Gib - Skaw range 25 38365 -380

S4A US Gulf - Skaw-Passero 12.5 81540 230

S4B Skaw-Passero - US Gulf 12.5 32475 -90

Average of the T/C Routes 49333 -108

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

S5 W.Africa via ECSA to FarEast 0 64675 625

S6 Jpn-SK trip via Aus/India 0 40223 73

S7 EC India - China 0 62188 -58 

Baltic Exchange Handysize Index     2324     (DOWN 4)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 27479 193

HS2 Skaw - Passero trip Boston - Galveston 12.5 27843 222

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 44839 500

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 47265 155

HS5 SE Asia trip via Australia to Singapore - Japan 25 31393 -486

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 30264 -393

Average of the T/C Routes 33842 -86