FREIGHT RATE FUTURES

FREIGHT RATE FUTURES

May 6, 1998

Baltic International Freight Futures Market Prev.

Close High Low Vol. Close

May 995 1003 985 39 985

June 960 __ __ __ 935

July 940 935 935 2 920

Oct. 1068 1070 1050 47 1045

Jan. 1090 1080 1080 44 1075

Total sales, 132 contracts.