CHARTER INDEX

CHARTER INDEX

The weekly freight index of Maritime Research Inc. (January-December 1972 equals 100 percent) is as follows:

Week Ending 11-06-93 11-07-92 10-30-93General Freight

Index 247.2 234.8 247.7

Time Charter Index

1 to 2 mos 261.2 236.5 272.5

2 to 3 mos 236.8 231.6 250.0

Over 6 mos 292.1 261.4 293.8

Grain

Freight Index 248.2 237.1 249.2

Misc.

Freight Index 244.8 229.3 244.0

The general freight, timecharter, grain and misc. indexes are measurements of the relative increase/decrease in quoted freight rates for fixtures reported, weighted by importance as determined by a survey of the base year.