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CERTIFIED WATER TAXIS, TOUR BOATS, SMALL FAST FERRY BOATS, PILOT BOATS, RIB'S & GOVERNMENT BOATS Finally, an affordable way to sharpen morale WATERCOM is proud to announce a new relationship with a top performer, Sea Sharp. The Sea Sharp mini-satellite system, Sharp- Trac 2000", gives you clear, consistent TV reception for a price that's about whjm half the cost of other tracking systems. H s.s It utilizes Auto Drift Compensation (ADC) and Auto Signal Lock (ASL) • Circuits for a sharp picture and sound quality. Sharpen your crews morale with this cutting-edge technology. This compact system is built tough for dependable service under the most rugged marine conditions. For clarity, reliability and affordability, it's Sea Sharp and WATERCOM! To get the whole picture, call WATERCOM today at 1-800-752-3000. y [77 11 1 • I T] 12 TELECOMMUNICATIONS FOR VESSELS AND SHORE. 453 East Park Place • Jeffersonville. Indiana 47130 December Winners MARINE FINANCE Oslo: December Ended Slightly Lower Following a series of turbulent months, maritime shares at the Oslo Stock Exchange continued to fall during the first half of December before a strong comeback in the second half made the Shipping Index drop only less than one percent in the period. The All Share Index fell by 1.9 percent in December. But even though shipping & offshore did better than the Oslo market in general dur- ing this last month, the maritime sector ended 1998 as the worst per- forming sector. The Shipping Index lost 45.5 percent for the year while the All Share Index dropped 26.7 percent, conclud- ing the worst year since the start of today's indices in 1983. As in November, Awilco dominated the offshore list as they saw solid gains for both share classes. Only three other offshore shares ended December on the posi- tive, while TGS Nopec experienced yet anoth- er weak month. The stock fell by as much as 34.4 percent in the period following a 31.8 percent drop in November. Stolt Comex Seaway also struggled as their stock fell almost 30 percent. With oil prices below $10 per barrel, a lot of offshore shares fell dramatically during the period, and the smaller companies were particularly hurt. The market cap- italization of offshore shares on the SMB List fell by more than 30 percent, including the delisting of Discoverer as they merged with ProSafe. A total of eight shipping shares experience double digit gains in December, with Wabo, First Olsen Tankers and Royal Caribbean Cruises on top. Also NCL Holding, the other cruise share in Oslo next to RCCL, did well as the share rose 19.2 percent. Jinhui Shipping and Transportation dropped all of 30 percent in November, but rebounded nicely this month with a 14.3 percent gain. Problems in Russia sent Nomadic Shipping down all of 41.7 percent, while Belships, Mosvold Shipping and Loki also dropped considerably. Shipping List Change Wabo Main +26.1% First Olsen Tankers Main +23.4% Royal Caribbean CruisesMain +22.1% NCL Holding Main +19.2% Jinhui Shipping and Trans.Main +14.3% Offshore List Change Awilco A Main +15.2% Awilco B Main +13.6% Smedvig B Main +3.6% Siem Industries Main +2.3% Transocean Offshore Main +0.1% December Losers Shipping List Change Nomadic Shipping Main -41.7% Belships Main -30.0% Mosvold Shipping Main -25.0% Loki Main -23.1% Stolt-Nielsen B Main -19.8% Offshore List Change TGS Nopec Main -34.4% Stolt Comex Seaway Main -29.4% Stolt Comex Seaway A Main -25.9% Petrolia Drilling SMB -25.8% Navis SMB -22.6% New Listings 1998 Havila Supply Northern Offshore Nortrans Offshore Ltd. Polar Holding Tanker Navigation Team Shipping Market Summary 1998 Sector Manager Offshore Pareto Fonds og DnB Markets Offshore Fearnley Fonds Offshore Pareto Fonds og DnB Markets Offshore Pareto Fonds og Bergen Fonds Shipping Fearnley Fonds Shipping DnB Markets Circle 302 on Reader Service Card Delistings 1998 Brevig Supply: Acquired by GulfMark Offshore Inc. Marine Drilling Companies (Norway): Acquired by Marine Drilling Companies Inc. Nordstrom & Thulin B: Merged with Argonaut AB Saevik Supply: Acquired by Trico Marine Delistings Resulting From Mergers 1998 Discoverer: Merged with ProSafe Seateam Technology: Merged with Det Sondenfjeldske I' - 49 Passenger Water Taxis for Long Beach Public Transportation Co., operated by Catalina Express '"'HP"^ 1250 N. Grove Street Anaheim. CA 92806 U.S.A. Phone: 714-666-2150 ext. 211 • Fax: 714-632-8136 Established 1957 Web site: http://willardmarine.com e-mail: webmaster@willardmarine.com Circle 307 on Reader Service Card