BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

2110 (Aug. 21, 1995) Previous day - 2107

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% 18.286 2014

Trans-Atlantic Round Timecharter 10% 16,204 * 2473

U.S. Gulf-Japan H. Grain 10% 35.000 2450

Skaw Passero-Taiwan/Japan Timecharter 10% 20,914 * 2824

U.S. North Pacific-Japan H. Grain 10% 19.793 2145

Trans-Pacific Round Timecharter 10% 15,718 * 2338

Hampton Roads/Richards Bay-Japan Coal 7.5% 18.271 1771

Hampton Roads-Rotterdam Coal 7.5% 7.493 1539

Queensland-Rotterdam Coal 7.5% 12.350 1123

Far East-Europe Timecharter 10% 11,307 * 1492

Tubarao-Rotterdam Iron Ore 7.5% 7.564 1497

*Dollars per day.