CRS / NICARAGUA / BULK WHEAT

NICARAGUA TENDER DATED MARCH 30, 2006
RESULTS

ATC-350 - U.S. FLAG - BULK CARRIER BARGE
OWNER: MORAN TOWING CORP.
CARGO: 2,440 MT BULK WHEAT
LAYDAYS: MAY 27 - JUNE 5, 2006
L/P: 1/3 SB EACH 1/2 SP U.S. GULF
D/P: 1/2 SB CORINTO, NICARAGUA

FREIGHT RATE: USD 144.12 PMT

PREMIUMS: USD 5.00 PMT EXTRA ON ENTIRE CARGO 
FOR EACH ADDL LOAD BERTH;
USD 10.00 PMT EXTRA ON ENTIRE CARGO FOR 2ND L/P;
ADDL USD 50,000  LUMPSUM FOR MISSISSIPPI RIVER LOAD;