BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

1714 (Oct. 17, 1995) Previous day - 1731

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% 13.986 1541

Trans-Atlantic Round Timecharter 10% 11,893 * 1815

U.S. Gulf-Japan H. Grain 10% 29.157 2041

Skaw Passero-Taiwan/Japan Timecharter 10% 17,379 * 2346

U.S. North Pacific-Japan H. Grain 10% 17.636 1912

Trans-Pacific Round Timecharter 10% 13,250 * 1971

Hampton Roads/Richards Bay-Japan Coal 7.5% 14.643 1420

Hampton Roads-Rotterdam Coal 7.5% 5.986 1229

Queensland-Rotterdam Coal 7.5% 11.379 1035

Far East-Europe Timecharter 10% 8,507 * 1122

Tubarao-Rotterdam Iron Ore 7.5% 6.000 1188

*Dollars per day.