BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1568.5 (Feb. 19, 1988) Previous day - 1566.0

The Baltic International Freight Futures Exchange in London and the International Futures Exchange (Bermuda) Ltd. offer 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 13 routes listed below. *DollarsCom- Metric

Routes modity Weight Ton Index

U.S. Gulf-North Continent Grain 20 percent 14.792 1629.5

U.S. Gulf-Japan Grain 20 percent 26.833 1878.5

U.S. North Pacific Japan Grain 15 percent 15.233 1651.0

U.S. Gulf-Venezuela Grain 5 percent 19.000 1628.0

Antwerp-Jeddah Grain 5 percent 22.058 2117.0

Hampton Roads-Richards Bay-Japan Coal 5 percent 14.308 1387.0

Hampton Roads-North Continent Coal 5 percent 8.650 1497.5

Queensland-Rotterdam Coal 5 percent 12.417 1096.5

Vancouver-San Diego-Rotterdam Petcoke 5 percent 14.375 1093.5

Monrovia-Rotterdam Iron Ore 5 percent 6.725 1494.5

Vitoria-China Pig Iron 5 percent 34.167 1803.0

Hamburg-West Coast India Potash 2.5 percent 35.367 1222.5

Aqaba-West Coast India Phosrock 2.5 percent 16.342 1206.5