BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

2007 (July 26, 1995) Previous day - 1997

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% 17.014 1874

Trans-Atlantic Round Timecharter 10% 15,564 * 2375

U.S. Gulf-Japan H. Grain 10% 33.000 2310

Skaw Passero-Taiwan/Japan Timecharter 10% 19,336 * 2610

U.S. North Pacific-Japan H. Grain 10% 18.786 2036

Trans-Pacific Round Timecharter 10% 14,907 * 2217

Hampton Roads/Richards Bay-Japan Coal 7.5% 17.629 1709

Hampton Roads-Rotterdam Coal 7.5% 7.500 1540

Queensland-Rotterdam Coal 7.5% 12.064 1097

ar East-Europe Timecharter 10% 10,786 * 1423

Tubarao-Rotterdam Iron Ore 7.5% 7.371 1436

*Dollars per day.