BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

935 (Feb. 9, 1998) Previous day - 938

The Baltic International Freight Futures Market in London offers owners and charterers in the bulk shipping community a forum for futures trading of a freight rate index. The contracts are based on the Baltic Freight Index, announced daily, of 11 routes listed below.

DOLLARS/ ROUTES COMMODITY WEIGHT METRIC TON INDEX

U.S. Gulf-N. Continent L. Grain 10% 8.505 937

Trans-Atlantic Round Timecharter 10% 5,971 * 788

U.S. Gulf-Japan H. Grain 10% 17.108 1198

Skaw Passero-Taiwan/Japan Timecharter 10% 8,157 * 995

U.S. North Pacific-Japan H. Grain 10% 8.883 963

Trans-Pacific Round Timecharter 10% 5,700 * 722

Hampton Roads/Richards Bay-Japan Coal 7.5% 12.056 1169

Hampton Roads-Rotterdam Coal 7.5% 5.019 1031

Queensland-Rotterdam Coal 7.5% 8.106 737

Far East-Europe Timecharter 10% 3,236 * 370

Tubarao-Rotterdam Iron Ore 7.5% 5.175 1024

*Dollars per day.