BALTIC FREIGHT INDEX

BALTIC FREIGHT INDEX

970 (April 14, 1998) Previous day - 966

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% 7.817 861

Trans-Atlantic Round Timecharter 10% 6,200 * 819

U.S. Gulf-Japan H. Grain 10% 18.000 1260

Skaw Passero-Taiwan/Japan Timecharter 10% 8,129 * 991

U.S. North Pacific-Japan H. Grain 10% 11.567 1254

Trans-Pacific Round Timecharter 10% 7,293 * 924

Hampton Roads/Richards Bay-Japan Coal 7.5% 9.554 925

Hampton Roads-Rotterdam Coal 7.5% 3.963 814

Queensland-Rotterdam Coal 7.5% 7.056 642

Far East-Europe Timecharter 10% 6,543 * 748

Tubarao-Rotterdam Iron Ore 7.5% 3,944 781

*Dollars per day.