BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1097 (March 11, 1998) Previous day - 1102

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% 8.864 976

Trans-Atlantic Round Timecharter 10% 6,944 * 917

U.S. Gulf-Japan H. Grain 10% 19.036 1332

Skaw Passero-Taiwan/Japan Timecharter 10% 9,119 * 1112

U.S. North Pacific-Japan H. Grain 10% 12.429 1347

Trans-Pacific Round Timecharter 10% 9,194 * 1165

Hampton Roads/Richards Bay-Japan Coal 7.5% 11.869 1151

Hampton Roads-Rotterdam Coal 7.5% 4.656 956

Queensland-Rotterdam Coal 7.5% 7.956 724

Far East-Europe Timecharter 10% 7,000 * 800

Tubarao-Rotterdam Iron Ore 7.5% 4,531 897

*Dollars per day.