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MARINE FINANCE Stuffing Boxes rendering Systems Think of Duramax® Marine as the industry leader with small town values. Over 100 years ago we dropped anchor in Middlefield, Ohio—some 456 miles from the nearest ocean—because we knew it would be a great place to grow a business. Today, we're number one in water lubricated rubber bearings, keeping ships large and small working around the world. You probably know us by our Johnson, Cutless® and Romor® brand names. And there is no doubt our hometown and its people have played a big part in our success. Our company, like our community, is built on the rock solid ideals of quality craftsmanship and uncompromising service. We take the time to do the job right. That's why every Duramax® Marine bearing, keel cooler, shaft seal, stuffing box and tendering system is designed to keep your ship working. It's all a part of the way we combine our proud heritage with ... imHWWBH Demountable Stave Bearings ^gl Shaft Sea. Kee, Coders the latest technology—to keep your vessel where it belongs—out working on the water. Circle 225 on Reader Service Card DURAMAX1 MARINE Duramax Marine. Singapore Gibraltar/Ceuta ARA-area Offshore Scand. ~~~~ Los Angeles New Orleans Singapore South Africa Gibraltar/ Ceuta ARA-area -Offshore Scand. "" Los Angeles — New Orleans Recent Ship Sales This report, compiled by Shipping Intelligence, Inc., a New York maritime consulting firm, tracks sale prices of secondhand bulk carriers and tankers. For more information, call tel: (212) 997-0966. 1/9/98 Riomor 1/9/98 Almendro 1/16/98 Hollo Pioneer 1/30/98 Nordic Moor 1/30/98 Hertegovino 1/30/98 Dryso 1/9/98 MorgoL 1/23/98 Exemplar 1/30/98 Excekior 1/9/98 Treosore Sunrise 1/9/98 Sonny Ocean 1/9/98 Monte Rolondo 1/16/98 Freja Baltic 1/30/98 Seo Angel 1/9/98 Port Isabelle 1/23/98 President 1/23/98 Astro Pegasus 1/30/98 Windsor 1/9/98 Sulby 1/16/98 Nicolas 1/9/98 Knock Davie Year Sole Built Pries (M) Index Fleet Valuation The Index Fleet Valuation is representative of the resale market for Bulk Carriers and Tankers as a whole. The Index Fleet \ consists of 15 vessels, nine Bulk Carriers and six Tankers, of various sizes and ages. Fluctuations in the value of the world fleet a'e mirrored in the Index Fleet. This report, compiled by Shipping Intelligence, Inc., a New York maritime consulting firm, tracks sale prices of secondhand bulk carriers and tankers. For more information, call tel: (212) 997-0966. MIDDELFART Tel +45 64 41 54 01 Fax +45 64 41 53 01 Tlx 58253 (BUNKER DK) E-mail middelfart@dan-bunkering.dk COPENHAGEN Tel +45 33 93 54 01 Fax +45 33 93 54 11 Tlx (DABUNKDK) E-mail copenhagen@dan-bunkering.dk http://www.dan-bunkering.dk Current Market Value ($M): .$252.9 1 Month Ago: $263.9 6 Months Ago:$237.9 1 Year Ago:. .$252.9 Bunker Fuel 4k Monitor A/S DAN-BUNKERING Ltd. * ARA-area = Amsterdam/Rotterdam/Antwerp All prices are delivered FOB (Free On Board) in U.S.$ MGO = Marine Gas Oil - MDO = Marine Diesel Oil Above prices are indications only. For firm offer, please call Carsten Ladekjaer at: +45 64 41 54 01; or e-mail: middelfart@dan-bunkering.dk. A/S DAN-BUNKERING Ltd. is one of the leading bunker traders. From their offices in Middelfart and Copenhagen they arrange bunkers at competitive prices all over the world. It's smooth sailing with ••••••• May'97 Aug.'97 Dec.'97 Feb.'95 Singapore Pusan S. Africa Gibraltar/Ceuta '"""•—"ARA-area Offshore Scand. " Los Angeles New Orleans MDO Singapore South Africa "Gibraltar/Ceuta ARA-area -Offshore Scand. — Los Angeles — New Orleans MGO
