BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1322 (Nov. 9, 1993) Previous day - 1318

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 15 routes listed below.

Dollars/

Routes Commodity Weight Metric Ton Index

U.S. Gulf-N. Continent L. Grain 10% 11.417 1258

Trans-Atlantic Round Timecharter 10% 8,583 * 1310

U.S. Gulf-Japan H. Grain 10% 23.100 1617

Skaw Passero-Taiwan/Japan Timecharter 10% 12,700 * 1715

U.S. North Pacific-Japan H. Grain 10% 13.092 1419

Trans-Pacific Round Timecharter 10% 9,242 * 1374

Hampton Roads/Richards Bay-Japan Coal 7.5% 12.325 1195

Hampton Roads-Rotterdam Coal 7.5% 5.033 1034

Queensland-Rotterdam Coal 7.5% 8.933 0812

Far East-Europe Timecharter 10% 6,883 * 0908

Tubarao-Rotterdam Iron Ore 7.5% 5.125 0999

*Dollars per day.