Facts 1947-1951

Peak 1

Facts 1952-3

2

Facts 1954-1967

3

Facts 1968-1977

4

1947: a positive market; 1948-1949: pessimistic feelings arose; in early 1950 the Korean war started!

1952-53: undreamed freight rates (index = 200; 1741 = 100);

1953: a sad year concerning freight rates!

Healthy atmosphere; the index = 195; closure of Suez Canal: 29/10/1956; Canal opened in April 1957; 1958-59 rock bottom rates; index = 75; 1961-2 worse than thirties; index = 100; 1964-6 fairly stable; Canal re-closed in May 1967

Firm & healthy; oil crisis in Oct. 1973, index = 50; the Yom Kippur War, 1973;

Canal reopened in June 1975; 1971-2 very poor rates; 1975-77 unprofitable rates

Facts 1978-1987: 5

Facts 1988-2001

6

Facts 2002-2007:

7

Facts 2008:

8

Boom in rates-index = 300; Iranian revolution 1979; 1982-1986 bad; index = 50; Iran-Iraq war in 1982 starts; Sanko case 1983-4; early 1987 recovery of the freight rate market

Firm rates; Iraq invades Kuwait 1990-91; index 300; Asian crisis 1997 June; index 100; 1999 a rock-bottom sentiment; index = 100; dot.com crisis 2001; 2001 stronger rates, index = 200

The Gulf war 2003;

China creates the 2003-8 boom; index = 600; fortunes are made-up

Index = 1000!