Freshly Minted – June 3, 1999

In honor of Nor Shipping and Marine Money’s Ship Finance Forum, which will be held in Oslo on June

9th and 10th, a bit of humor for our ex-pat shipping friends living in Norway…. You know you’ve been in Norway too long when:

* You think there is no such thing as bad weather, only bad clothing.
* You know at least five different words describing different kinds of snow.
* It’s acceptable to eat lunch at 11.00 and dinner at 15.00.
* You can prepare fish in five different ways without cooking it.
* You don’t look twice at businessmen in a dark suite wearing white sport socks.
* When a stranger on the street smiles at you, you assume that:

1. He is drunk;
2. He is insane;
3. He is an American;
4. He is all of the above.

HIGH YIELD

Other than Hvide and Golden Ocean, this week was a lot quieter than last week on the high yield front. Restructuring meetings with TBS and Global have left involved parties decidedly pensive.

Lazard reported that last week saw $12 million in outflows from high yield funds, which marks the third consecutive week of cash moving in that direction. 10 new deals priced and 2 were postponed. According to Lazards, the market remained volatile and generally weaker amid interest rate concerns The shipping sector has been relatively quiet and action on shipping bonds has been specific to impending restructurings and defaults.

This is only an excerpt of Freshly Minted – June 3, 1999

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