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Marine Finance Offshore shares driving the Oslo market Share prices in Oslo rose in August for ments for 7 out of 8 months so far this ping Index was a little behind with a 1.4 the sixth consecutive month, and can year. While the All Share Index gained percent increase. Shipping and Offshore thus show for positive share price move- another 2.4 percent in August, the Ship- shares are up 43.2 percent for the year. The Revolutionary New Shaft Seal for Water-Lubricated Sterntubes... From The Makers of The Original SIMPLEX® SEAL - Blohm + Voss Keep The Pressure On With SIMPLAN® Exclusively Distributed and Serviced in North America by: SIMPLEX-TURMAR n I Effective in Both Blue & Brown Water Eliminates-Shaftwear, Water in Bilge & Frequent Maintenance t r, ce W Work Boats, Fishing Boats & Pleasure Craft SIMPLAN® features a unique neoprene seal body whose flexibility compensates for large axial and angular shaft movements, which provides greater operational reliability and a longer life. SIMPLAN® contains a revolutionary breakthrough for operation in poor conditions. The seal faces are composed of a SiC/SiC pairing, which is the first time ever that two hard materials have been combined. This innovation makes the life of SIMPLAN® Seals practically unlimited. OUR WORLDWIDE around-the-clock service network for all Simplex-Compact prod- ucts is in effect for SIMPLAN® Shaft Seals. Also,its modular design, along with its split carbon ring and its simple installation tool, make the SIMPLAN® Seal extremely user friendly. For More Information Call: 888-357-3257 Or Visit Our Web Site: www.simplex-turmar.com Regional Offices: Great Lakes • East Coast • West Coast • Gulf Coast The oil price continued to rise in August. For the first time since October 1997 North Sea oil for immediate deliv- ery (Brent spot) was traded at more than USD 21 per barrel, doubling the oil price since January. Oil-related shares are obediently fol- lowing the oil price with the value of offshore shares on the Main List rising 11 percent in August after the July rise of 20 percent. TGS Nopec (TGS), Det S0ndenfjeldske (SFJ) and Fred. Olsen Energy (FOE) all added more than 17 percent to their value in August. Three offshore shares, all on the SMB List, fell dramatically more than the rest of the offshore segment during the month. Petrolia Drilling (PDR), per- formed the worst with a drop of 19 per- cent following the publication of second quarter results. Also Havila Supply (HAV) and Ocean Rig (OCR) fell more than 10 percent for the period. Shipping shares could not keep pace with the offshore sector during August, but Bergesen (BEA and BEB) per- formed well with a rise of more than 7 percent in its class A shares and 6.5 per- cent in its class B shares. Swan Reefer (SWR) rose all of 20 percent, but the share was traded in very thin volume during August. The market reacted negatively to the second quarter results of Jinhui Ship- ping and Transportation (JIN), sending its share price down by more than 11 percent for the month. Physical damage to one of the cruise ships of NCL Hold- ing (NCL) following a crash with a con- tainer ship contributed to a fall of 5 per- cent in its share. Also Frontline, the tanker company, fell by just over 4 per- cent. Bona Shipholding (BSH) was delisted on August 25 following the merger with Northwest Maritime Inc., a subsidiary of Teekay Shipping Corpora- tion. Winners this month: Shipping List Swan Reefer SMB Ganger Rolf Main Bergesen A Mai Bonheur Main Bergesen B Mai Offshore List TGS Nopec Geophysic Main Det Sondenfjeldske Main Fred. Olsen Energy Main Smedvig B Mai Nortrans Offshore SMB Losers This Month Change + 20.0% + 9.8 + 7.3 + 6.8 + 6.5% Change + 20.4% + 19.1% + 17.1% + 15.8 + 15.0% Shipping Jinhui Shipping & Tr. Wilh. Wilhelmsen A Wilh. Wilhelmsen B Leif Hoegh & Co. NCL Holding Offshore Petrolia Drilling Havila Supply List Main Main Main Main Main List SMB SMB Chang -19.3 - 14.4 14 Circle 301 on Reader Sen/ice Card Maritime Reporter/Engineering Ne
