BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1562.0 (Mar. 2, 1988) Previous day - 1562.5

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 14.400 1586.0

U.S. Gulf-Japan Grain 20 percent 26.042 1823.0

U.S. North Pacific Japan Grain 15 percent 15.500 1680.0

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

Antwerp-Jeddah Grain 5 percent 22.417 2152.0

Hampton Roads-Richards Bay-Japan Coal 5 percent 15.042 1458.5

Hampton Roads-North Continent Coal 5 percent 8.792 1521.5

Queensland-Rotterdam Coal 5 percent 12.492 1103.5

Vancouver-San Diego-Rotterdam Petcoke 5 percent 14.683 1117.5

Monrovia-Rotterdam Iron Ore 5 percent 6.908 1535.0

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 15.917 1175.0