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FTSE Mondo Visione Exchanges Index:

No Change To Baltic Panamax Route 2A_03

Date 22/12/2004

Following requests by freight derivatives brokers through the Forward Freight Agreement Brokers’ Association (FFABA), the Baltic Exchange has said that it will not implement a change of description for Panamax Route 2A_03 for the time being.

The route description will therefore remain unchanged, as follows, until further notice:

Basis a Baltic Panamax 74,000 mt dwt, not over 7 years of age, 89,000 cbm grain, max loa 225m, draft 13.95m, 14.0 knots on 32mts fuel oil laden, 28mts fuel oil ballast and no diesel at sea., basis delivery Skaw-Gibraltar range, for a trip to the Far East, redelivery Taiwan-Japan range, duration 60/65 days. Loading 15-20 days ahead in the loading area. Cargo basis grain, ore, coal, or similar. 3.75 per cent total commission.