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MARINE FINANCE (800) 913-0062 Change 64.1% 39.9% 14.8% 13.2% 11.8% Change 77.1% 60.4% 55.8% 53.1% 46.5% Change -21.4% -13.0% -11.1% -7.1% -4.8% Change -16.7% -7.1% -3.3% 3.6% 6.4% 17007 South Broadway, Gardena CA 90248, U.S.A. Tel (310) 532-3662 • Fax (310) 532-9884 Stocking Distributors: Waterman Supply Company 910 Mahar, Wilmington, CA 90744, U.S.A. 1-800-322-3131 Tel (310) 522-9698 • Fax (310) 522-1043 Anchor Marine & Industrial Supply, Inc. 6545 Lindbergh, Houston, TX 77087, U.S.A. 1-800-233-8014 Tel (713) 644-1183 • Fax (713) 644-1185 March's Winners Shipping List Bona Shipholding Main Waterfront Shipping Main Ganger Rolf Main Odfjell B Mai Wilh. Wilhelmsen A Main Offshore List Navis SMB TGS Nopec Geoph Main Stolt Comex Seaway Main Ocean Rig SMB Stolt Comex Seaway A Main March's Losers Shipping List Frontline Main Team Shipping SMB Western Bulk Shipping Main Tordenskjold SMB Bergesen B Main Offshore List Nortrans Offshore SMB Havila Supply SMB Awilco Main Awilco B Main District Offshore SMB Booming Oil Boosts 0SE Higher oil prices pushed the Oslo Stock Exchange in a positive direction in March, and had a particularly benefi- cial effect on offshore shares. The substantial gains by the majority of offshore shares pushed the Shipping Index, which contains both shipping and offshore shares, up 11.7 percent. The All Share Index, by comparison, rose by 6.9 percent during the month. The increase by both indices of almost 12 percent during first quarter, promot- ed the Oslo Stock Exchange to the sec- ond-best performing European bourse so far this year. The background for this success was the performance of North Sea oil which ended the month at around $14.5, up $3.5 since the end of February, provid- ing the climate for a drop in market rates and for the Norwegian krone to strengthen. Of the Main List offshore shares, TGS Nopec enjoyed the best performance with a 60.4 percent increase, recovering some ground after recent negative price movements. Stolt Comex Seaway and Smedvig also performed well rising 55.8 percent and 44.2 percent respec- tively. Navis, an SMB-listed company, was one of the worst performing stocks after two months, but rose 77.1 percent in March ending the first quarter about even for the year. Nortrans Offshore ended the month at the other end of the scale with a fall of 16.7 percent in its share price. Havila Supply and Awilco A were the only other two offshore shares to end the period with a fall. Among shipping shares Frontline were again on top of the losers' list falling 21.4 percent during the period. FRO's performance is still positive this year. The SMB-listed Team Shipping fell 13 percent, while Western Bulk Shipping dropped 11.1 percent. Bona Shipholding led all shipping shares in March with a 64.1 percent rise. The rise resulted from the company's announcement on March 29 of its plans to merge with Northwest Maritime Inc., a wholly-owned subsidiary of Teekay Shipping Corporation. Foam Filled Marine Fenders Marine Guard " The Ultimate Protector for Ships, Harbor Craft, Wharves & Piers. • Construction complies with United States Navy and Coast Guard Specifications. • Core consists of closed-cell, resilient, energy absorbing foam, covered with a protective, seamless polyurethane elastomer skin. Filament nylon tire cord reinforcement is continously wound in the skin for added strength and durability. Will not mark or scratch vessel hulls. • Constructed with integral swivel end fittings, internally connected with a heavy duty chain. • Easy to install with very little maintenance. • Light weight and extremely buoyant with a lower reaction force than either hard rubber or pneumatic fenders. (Almost 40% higher energy absorption than pneumatic fenders.) URETHANE PRODUCTS CORPORATION , _ _ _ Circle 311 on Reader Service Card May, 1999 1
