BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1241 (Dec. 9, 1993) Previous day - 1247

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 TonIndex

U.S. Gulf-N. Continent L. Grain 10% 11.358 1251

Trans-Atlantic Round Timecharter 10% 8,250 *1259

U.S. Gulf-Japan H. Grain 10% 21.875 1531

Skaw Passero-Taiwan/Japan Timecharter 10% 11,617 *1568

U.S. North Pacific-Japan H. Grain 10% 12.267 1330

Trans-Pacific Round Timecharter 10% 8,300 *1234

Hampton Roads/Richards Bay-Japan Coal 7.5% 11.900 1154

Hampton Roads-Rotterdam Coal 7.5% 4.850 0996

Queensland-Rotterdam Coal 7.5% 8.400 0764

Far East-Europe Timecharter 10% 6,025 *0795

Tubarao-Rotterdam Iron Ore 7.5% 4.867 0948

*Dollars per day.