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ERLISHIP'S NEW CONTRACTS

IER/0PERAT0R COUNTRY SHIPYARD COUNTRY TYPE No. TEU DWT GT DELIV. PRICE M $

UNG SHIPPING SOUTH KOREA SHIN-A SHIPBUILDING KOREA CONTAINER 1 700 — — 10/98 —

MARINE U.S. AVONDALE SHIPYARD U.S. CRUDE CARRIER 2 — — — 2000 332

JNE ORIENT LINES (NOL) SINGAPORE SAMSUNG KOREA CRUDE OIL TANKER 2 — — — — 80

JNE ORIENT LINES (NOL) SINGAPORE IMABARI SHIPBUILDING JAPAN CRUDE OIL TANKER 3 — — — — 120

ML CRUISES GREECE CHANTIERS DE L'ATLANTIQUE FRANCE CRUISE I — — — 1999 240

DS LANDSKAPSSTYRELSE FINLAND UUDENKAUPUNGIN FINLAND FERRY 1 — — 1,500 1998 8.68

IOWN — KVAERNER FJELLSTRAND SING. SINGAPORE FERRY 1 — — 475 1998 —

SH COLUMBIA FERRY CORP CANADA CATAMARAN FERRIES INT. CANADA FERRY 2 — — — 98/99 —

NORGE NORWAY KVAERNER MASA FINLAND FPSO 1 — — — 1998 310 (IBSAKSJESELSKAPET SOLVANG NORWAY MEYER WERFT GERMANY GAS CARRIER 2 — — — 98/99 — iAKSJESELSKAPET SOLVANG NORWAY MEYER WERFT GERMANY GAS CARRIER 2 — — — 99/2000 — iUS NETHERLANDS CESKOSLOVENSKA CZECHOSLOVAKIA GENERAL CARGO 3 — 2,800 — 1998 —

UMOTO KAIUN JAPAN HAMAMOTO JAPAN GENERAL CARGO 1 — 699 — 1997 —

IUMURA KAIUN JAPAN YOSHIDA ZOSEN JAPAN GENERAL CARGO I — 1,500 — 1997 — yown — HONDA JAPAN GENERAL CARGO 2 — 8,600 — 1998 — :o CHINA DALIAN SHIPYARD CHINA GENERAL CARGO 4 — 20,000 — 98/99 92 :o CHINA WUHU SHIPYARD CHINA •GENERAL CARGO 3 — 20,000 — 98/99 69

ID GAS SHIPING U.K. HYUNDAI KOREA LPG 2 — 6,000 — — —

NOWN — MITSUBISHI H.I. JAPAN LPG 2 — 48,100 — 1999 —

EL NASE EID YOUSSEF EGYPT KVAERNER FJELLSTRAND NORWAY PASSENGER I — — — 5/98 12.06 'EC ECUADOR HYUNDAI KOREA PRODUCT TANKER 2 — 45,000 — 1999 68 'EC ECUADOR HYUNDAI KOREA PRODUCT TANKER 2 — 65,000 — 10/99 74

TSEN OAS SHIPPING NORWAY NAVAL GIJON SPAIN PRODUCTS TANKER 1 — 36,000 — 2/99 31

CARIDIS SHIPPING GREECE 61 KOMMUNAR UKRAINE REEFER 2 — 5,500 — 1998 24 0 KISEN JAPAN KYOKUYO ZOSEN JAPAN REEFER 1 — 5,000 — 1997 —

ERN CAR LINER JAPAN KITANIHON JAPAN RoRo 2 — 11,500 — 1998 — 3-PRAKLA NORWAY MJELLEM & KARL NORWAY SEISMIC 1 — 4,400 — 1999 —

FOUZOS GREECE SAMSUNG KOREA TANKER 2 — — — 1999 93.9

NDER MARINE GREECE HYUNDAI KOREA TANKER 6 — 45,000 — 2000 189

EMA MONACO DAEDONG SHIPBUILDING JAPAN TANKER 3 — 45,000 — 1999 99.5

AMENTOS MARITIMOS — ULIANIK CROATIA TANKER 1 — 40,000 — 1999 33

IRNATIONAL ENERGY — MINAMI NIPPON JAPAN TANKER 2 — 30,000 — 1998 —

EROCEAN UGLAND U.S. TSUNEISHI JAPAN TANKER 1 — — — 1999 —

NE JAPAN KOYO DOCK JAPAN TANKER 2 — — — 1999 80

CORPORATION U.S. DAEWOO KOREA TANKER 1 — — — 3/99 54

RLD WIDE SHIPPING BERMUDA ISHIKAWAJIMA HARIMA H.I. JAPAN TANKER 1 — — — 2000 —

DELTA MARINE SERVICES, INC U.S. MARCO SEATTLE U.S. TUG 2 — — — 1998 — [LINE JAPAN IMABARI ZOSEN JAPAN VEHICLE CARRIER 1 — 16,600 — 1999 50 :line JAPAN SHIN KURUSHIMA JAPAN VEHICLE CARRIER 1 — 15,500 — 1998 45

ASTANO

P.O. BOX 994 15080 Ferro!

La Coruna - Spain

Tel. (3481) 34 3211

Fax (3481) 34 3252

ASTANDER

P.O. BOX 10 39080 El Astillero

Cantabria - Spain

Tel. (3442) 54 0050

Fax (3442) 54 0026

CADIZ

P.O. BOX 39 11080 Cadiz

Spain

Tel. (3456) 27 3350

Fax (3456) 27 8362

ASTILLEROS ESPANOLES ptember, 1997

Circle 211 on Reader Service Card 123