Goulandris P & sons

1.65 - 1.69 = plus 36,502; 15 - 14 = less 1

Livanos G S

1.82 - 1.68 = less 139,765; 18 - 12 = less 6

Mavracakis

2.65 - 1.61 = less 1,047,285; 21 - 15 = less 6

Sold ships due to higher prices

Veniamis/

Gabriel

1.02 - 1.06 = plus 37,742; 35 - 35

Renewal program

Alafouzos Arist. (Glafki)

1.52 - 1.17 = less 342,912; 28 - 20 = less 8

Delivered ordered bulkers after sold to Chinese!

Hadjipateras (Peninsular Mar.)

0.58 - 1.20 = plus 622,002; 3 - 5 = plus 2

He bought large tankers

Tsakos

1.39 - 1.45 = plus 62,044; 30 - 26 = less 4

Goulandris N J (Andriaki)

1.24 - 1.52 = plus 278,347; 25 - 22 = less 3

Pegasus (in a shipowners’ pool)

0.48 - 1.44 = plus 965,351; 25 - 16 = less 9

Sale of 3 bulkers getting $35 m & buying 2 VLCCs & 1 tanker 118,000 tons; 2 VLCCs bought in 1987; cancelled orders in Japan for general cargoes

Angelicoussis A

0.98 - 1.3 = plus 0.32; 43 - 47 = plus 4

Total 22

41 m; 685 ships

<--1986

1988à

45m; 714 ships

Economies of scale