BULK VESSELS

CALENDAR YEARS 1990-98

TANKER VESSELS

FINAL RECAPITULATION

1990

1991

1992

1993

1994

1995

1996

1997

1998

DAILY OPERATING COSTS

Average DWT

39,077

57,294

54,011

55,768

59,945

37,608

43,737

54,277

54,406

Total Operating Days:

22,988

25,437

24,425

20,602

13,885

9,189

7,066

10,304

15,470

AVERAGE EXPENSES PER VOYAGE DAY 1/

Wages

$8,357

$8,727

$9,172

$9,368

$8,767

$9,954

$9,057

$8,341

$8,104

Subsistence

$328

$361

$347

$368

$353

$355

$374

$267

$282

Stores, Supplies, & Equipment

$951

$1,121

$1,083

$939

$916

$1,178

$1,028

$1,071

$996

Maintenance and Repairs

$4,290

$4,006

$3,965

$4,137

$3,034

$4,738

$3,006

$3,350

$2,804

Insurance

$1,855

$1,956

$2,336

$2,325

$2,381

$2,565

$2,553

$1,839

$1,229

Other Vessel Expenses

$799

$520

$1,301

$2,624

$1,282

$1,497

$1,781

$745

$1,183

Idle Costs

$185

$164

$335

$1,524

$453

$222

$198

$126

$122

TOTAL EXPENSES PER VOYAGE DAY

$16,765

$16,855

$18,539

$21,285

$17,186

$20,509

$17,997

$15,739

$14,720

Fuel Consumption (MT/Voyage Day):

[simple average/number of vessels]

@ Sea (Main)

71

76

73

72

70

64

44

72

59

@ Sea (Aux.)

1

1

1

1

1

1

1

1

1

In Port

19

19

17

20

19

16

14

17

14

Note: LNG tankers not included /

insufficient information.

DAILY OPERATING COSTS

BULK VESSELS

CALENDAR YEARS 1990-98

BULKER VESSELS

FINAL RECAPITULATION

1990

1991

1992

1993

1994

1995

1996

1997

1998

Average DWT

46,530

47,115

39,735

43,513

39,781

41,872

40,079

43,480

40,738

Total Operating Days:

646

506

1,069

989

3,472

1,231

1,199

6,132

4,533

AVERAGE EXPENSES PER VOYAGE DAY 1/

Wages

$6,795

$7,323

$6,933

$7,800

$8,066

$8,153

$9,145

$6,622

$7,739

Subsistence

$262

$268

$271

$282

$281

$313

$334

$236

$277

Stores, Supplies, & Equipment

$827

$1,020

$839

$902

$926

$887

$1,089

$853

$1,261

Maintenance and Repairs

$2,214

$2,716

$2,863

$2,837

$2,960

$2,632

$3,142

$2,765

$3,001

Insurance

$1,329

$1,023

$1,240

$1,172

$1,353

$1,394

$1,407

$1,225

$1,091

Other Vessel Expenses

$790

$771

$812

$872

$797

$912

$826

$495

$351

Idle Costs

$121

$70

$138

$1,965

$537

$105

$75

$54

$340

TOTAL EXPENSES PER VOYAGE DAY

$12,338

$13,191

$13,096

$15,830

$14,920

$14,396

$16,018

$12,250

$14,060

Fuel Consumption (MT/Voyage Day):

[simple average/number of vessels]

@ Sea (Main)

39

40

38

39

32

40

36

45

48

@ Sea (Aux.)

3

2

2

2

2

2

2

2

2

In Port

3

4

4

3

3

4

3

5

6

Note: Great Lakes dry bulkers not included/

insufficient information.