CHARTER INDEX

CHARTER INDEX

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

Week Ending 10-7-95 10-8-94 9-30-95

General-Freight

Index 302.7 270.8 305.2

Time-Charter Index

1 to 2 mos. 304.2 268.3 316.0

2 to 3 mos. 304.7 269.2 322.4

Over 6 mos. 335.0 308.9 336.0

Grain

Freight Index 314.6 273.0 316.6

Misc.

Freight Index 276.4 265.6 279.9

The general-freight, time-charter, grain and miscellaneous 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.