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THE UGER \ J/ M » • - Tanker time charter earnings ($'000/day) 3-month moving average W.Afr- Car/USiS 100- Tanker fine charier earnings (S'OOO/day) 3-monrii moving average WJfr- Car/DSES 100-160 MSmkaif W Tanker time charier earnings ISWrkiy)3-monlli moving overage Mert-M 70-100 [_,_ £ M J S DM J S D M J S DeoM This technology requires no in-tank support. The structure has proven reliability on over 10,000 tanks worldwide and has complete milspec self- diagnostics. • Made of two materials: teflon and stainless steel. • Can include multiple temperatures. • Can include tank header pressures. • USCG and ABS approved for closed tank gauging. • FM approved Class I, Div. I, Group C & D. • Big Blue compatible. • Readout in BBLS/Tons/GAL, etc. • Sea-made for leak detection. • Multiple display options. • Complete load Management Software. • Embedded Pump Control capability. Call today for more information! ELECTRONIC MARINE 732.382.4344 SYSTEMS, INC. 800 Femdale Place 732.388.5111 fax Rahway, NJ 07065 emsmarcon@aol.com e-mail BASIC DESIGN CLASS APPROVAL DESIGN ENGINEERING ShipTech A/S, Marine Consultants Slotsmarken 17, DK-2970 Harsholm, Denmark Telephone: +45 45 76 42 10, Telefax: +45 45 76 42 20 Email: shiptech@shiptech.com DESIGN PACKAGES FOR HIGH SPEED SHIPS Have One-Tenth of an Inch Level Accuracy for All Liquid Cargosl Source: Drewry Shipping Consultants Ltd. Source: Drewry Shipping Consultants Ltd. Source: Drewry Shipping Consultants Ltd. range from 10-50,000 dwt, with more than 90 percent of vessels in this size range falling into this cat- egory. A smaller number of vessels ranging up to 110,000 dwt are also able to carry refined products, usu- ally finding employment from the Middle East to Asia. And there are literally a couple of vessels above 110,000 dwt with products carry- ing capability, but these are geared for oil companies' specific trades. The level and direction of crude and refined product trades deter- mines the demand for oil tankers. Changes in trade patterns can have a significant impact on demand. The supply of tankers is derived from the balance between vessels delivered to the fleet (usu- ally from a lead time of around 24 months) and those deleted when they are technically obsolete (cur- rently around 25 years of age, with smaller vessels having a longer life). The tanker market was charac- terized by a serious recession through the mid-1980s as a result of high oil prices which curbed oil demand. But in the latter part of the 1980s the scrapping of vessels, combined with renewed oil demand growth, brought the mar- ket steadily back into balance. The market peaked in 1990/91 as a result of the Gulf crisis, and this prompted a surge in speculative orders (i.e. vessels without cargo guarantees). As a consequence, faltering eco- nomic growth combined with an expansion of the fleet in the early 1990s, has resulted in rates once again being depressed. An increase in demolition levels and a slump in orders kept tanker sup- ply in check, and with strong eco- nomic growth, the result in the period 1996/97 has been for rates to strengthen appreciably once again. For several years there has been a perception that, as the tanker fleet ages, a number of vessels will inevitably have to be scrapped. As a consequence it has been antici- pated that a strong level of new- June, 1998 Circle 150 on Reader Service Card Tanker time charter earnings ($'000/day) 3-month moving average Med- Med 70-100 Tanker time charter earnings ($'000/day) 3-month moving average Car- USES 25-35 Circle 254 on Reader Service Card 14 SMAU CRUISE SHIPS OVER A 50 YEAR PERIOD • Developed definitive Grande Class stnal cruise ship-ultimate in adventure cruising. • Innovative desigi features that are tested and proven profitable. • Full engineering capabilities for any special customer needs. • Skilled-dedicated craftsmanship - average employee experience 20 years. • Highest quality manufacturing standards. • Design plans for 280 misc. vessels, plus small cruise ship-capacity 49-200 passengers. 13 small otise ships designed, built, operated over 40 year period by sister company American Canadian Caribbean line. 40 years knowledge & experience designing and building to USCG, ABS, SOUS 2010, US Public Health - with Ml certificates ready for service. OUR 50TH YEAR BLOUNT INDUSTRIES, INC. Circle 123 on Reader Service Card