Freshly Minted – September 9, 1999

Despite fears that computers would crash today, 9-9-99, you will all be pleased to know that all systems are GO! here at Marine Money and we are pleased to present another issue of Freshly Minted.

GREECE

An earthquake, which registered 5.9 on the Richter scale rocked Athens on Tuesday at 1500 Greek time, and most Greek banks and shipping offices packed up and went home. On Wednesday morning rumors of another quake sent people scuttling again and many offices remained closed. Lunchtime Wednesday saw Zyphyros restaurant at Tourkolimno full. The restaurant is outside with no high buildings around. Spotted at various tables were representatives of Scotiabank, Coutts & Co, Viking Finance, Nedship, EFG Eurobank, National Bank of Greece, Den norske Bank, Piraeus Prime Bank and Eurofinance. Amongst owners spotted were Alafouzos and Coustas interests. Were they concluding the next round of big deals or simply enjoying the fish!!!

MARKETS

Markets have been slowly moving lower this week as many investors have been taking profits from the rally last Friday while others continue to worry about inflation and the Fed. August PPI numbers tomorrow. High yield has traded lower this week with market off 1/4 pt yesterday.

On the shipping front there is quite a bit going on with issuers. Sellers have emerged for slightly stronger names like Enterprises and Millenium. Specific details below.

This is only an excerpt of Freshly Minted – September 9, 1999

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