Rankings 2001

Once again we bring you the industry’s only benchmark of a group of predominantly marine public companies. This year Marine Money Ranked 53 companies basis eight ratio and percentage tests (as opposed to 41 companies basis 5 tests for 2000) from data supplied in the 2001 results published in their respective annual reports taken directly from the Balance Sheet, Cash Flow Statement and Income Statement. The purpose of the Rankings is not to foretell the future so much as they are intended to benchmark the past so that one can make an initial investment or performance deci – sion from the result for the individual companies and to get a good overview of the public marine sector and its general attributes.

Any ranking of any subject or entity is fallible.Noteably even in this year’s Fortune 500, Enron finished in the top 10. Of course the Fortune 500 is a measure of size, not necessarily performance and basis their measurements, Enron was still big at the time they were measured. Ranking public marine companies on size simply makes no sense to us. Barring cruise companies, which are really “leisure” shares and offshore “oil service” companies (both of which appear in Rankings), shipping shares are marked by being small to mid-cap stocks with low to no share liquidity. Therefore the way to look at the companies is in an unweighted manner on performance alone.

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