BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1971 (July 20, 1995) Previous day - 1965

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 Ton Index

U.S. Gulf-N. Continent L. Grain 10% 16.721 1842

Trans-Atlantic Round Timecharter 10% 15,200 * 2320

U.S. Gulf-Japan H. Grain 10% 32.907 2303

Skaw Passero-Taiwan/Japan Timecharter 10% 19,164 * 2587

U.S. North Pacific-Japan H. Grain 10% 18.621 2018

Trans-Pacific Round Timecharter 10% 14,257 * 2120

Hampton Roads/Richards Bay-Japan Coal 7.5% 17.400 1687

Hampton Roads-Rotterdam Coal 7.5% 7.264 1492

Queensland-Rotterdam Coal 7.5% 11.993 1091

Far East-Europe Timecharter 10% 10,607 * 1400

Tubarao-Rotterdam Iron Ore 7.5% 7.193 1402

*Dollars per day.