BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

2103 (Aug. 17, 1995) Previous day - 2097

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% 18.186 2003

Trans-Atlantic Round Timecharter 10% 16,214 * 2475

U.S. Gulf-Japan H. Grain 10% 34.786 2435

Skaw Passero-Taiwan/Japan Timecharter 10% 20,886 * 2820

U.S. North Pacific-Japan H. Grain 10% 19.714 2137

Trans-Pacific Round Timecharter 10% 15,679 * 2332

Hampton Roads/Richards Bay-Japan Coal 7.5% 18.229 1767

Hampton Roads-Rotterdam Coal 7.5% 7.471 1534

Queensland-Rotterdam Coal 7.5% 12.271 1116

Far East-Europe Timecharter 10% 11,293 * 1490

Tubarao-Rotterdam Iron Ore 7.5% 7.493 1483

*Dollars per day.