BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

966 (April 9, 1998) Previous day - 961

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% 7.800 859

Trans-Atlantic Round Timecharter 10% 6,081 * 803

U.S. Gulf-Japan H. Grain 10% 17.757 1243

Skaw Passero-Taiwan/Japan Timecharter 10% 8,000 * 975

U.S. North Pacific-Japan H. Grain 10% 11.564 1253

Trans-Pacific Round Timecharter 10% 7,288 * 923

Hampton Roads/Richards Bay-Japan Coal 7.5% 9.550 926

Hampton Roads-Rotterdam Coal 7.5% 3.956 813

Queensland-Rotterdam Coal 7.5% 7.125 648

Far East-Europe Timecharter 10% 6,531 * 747

Tubarao-Rotterdam Iron Ore 7.5% 3,944 781

*Dollars per day.