BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1857 (Oct. 4, 1995) Previous day - 1879

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% 15.321 1688

Trans-Atlantic Round Timecharter 10% 13,421 * 2048

U.S. Gulf-Japan H. Grain 10% 32.771 2294

Skaw Passero-Taiwan/Japan Timecharter 10% 18,650 * 2518

U.S. North Pacific-Japan H. Grain 10% 18.800 2038

Trans-Pacific Round Timecharter 10% 14,307 * 2128

Hampton Roads/Richards Bay-Japan Coal 7.5% 15.657 1518

Hampton Roads-Rotterdam Coal 7.5% 6.107 1254

Queensland-Rotterdam Coal 7.5% 11,593 1054

Far East-Europe Timecharter 10% 9,607 * 1268

Tubarao-Rotterdam Iron Ore 7.5% 6.271 1242

*Dollars per day.