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                                       Table 5.2-3.   Annual prices for QS only transfers


                                       IPHC                         Ave             Tot num
                                       mngt    Vess                price              of QS       Avg. QS         Num of
                                       area    cat            |    $/QS     |       trnsfrd       trnsfrd    |     trans



                                        2C     36 to 60 ft    |    1.09     |       643,143        30,626    |      21
                                               <= 35 ft       |    0.70     |       108,093        27,023    |       4

                                        3A     > 60 ft        |    0.79     |       762,830       127,138    |       6
                                               36 to 60 ft    |    0.71     |     1,178,404        51,235    |      23
                                               <= 35 ft       |    0.70     |       126,965        14,107    |       9

                                        3B     > 60 ft        |     C       |       201,892       201,892    |       1
                                               36 to 60 ft    |    0.49     |       613,999       102,333    |       6
                                               <= 35 ft       |     C       |        76,645        25,548    |       3

                                        4A     > 60 ft        |     C       |       106,692        53,346    |       2
                                               36 to 60 ft    |     C       |        49,669        16,556    |       3
                                               <= 35 ft       |     C       |        40,175        13,392    |       3








                                                  C indicates confidential data (fewer than four transactions)
                                                    Data includes priced transfers and sweep-up transfers only
                                                      Data includes only observations with positive prices
                                                                 Data was created on 1-3-96