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            Table 5.2-4.  Quarterly prices for QS only transfers


            IPHC                                    Ave             Tot num           Cum    Pct of          QS                       Cum     Pct of
            mngt    Vess                           price              of QS        num of    num QS          per          Num of    num of    annual
            area    cat            Quarter    |    $/QS     |         trans            QS     trans         trans    |     trans     trans     trans


             2C     Freezer           1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |     .       |             .             .        .              .    |       .         .          .

                    > 60 ft           1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |     .       |             .             .        .              .    |       .         .          .

                    36 to 60 ft       1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     C       |        78,485        78,485      12.2        78,485    |       1         1         4.8
                                      3       |     C       |         9,485        87,970       1.5         3,162    |       3         4        14.3
                                      4       |    1.07     |       555,173       643,143      86.3        32,657    |      17        21        81.0

                    <= 35 ft          1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     C       |        37,391        37,391      34.6        37,391    |       1         1        25.0
                                      3       |     C       |        46,607        83,998      43.1        46,607    |       1         2        25.0
                                      4       |     C       |        24,095       108,093      22.3        12,048    |       2         4        50.0

             3A     Freezer           1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |     .       |             .             .        .              .    |       .         .          .

                    > 60 ft           1       |     C       |       298,912       298,912      39.2       298,912    |       1         1        16.7
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |    0.74     |       463,918       762,830      60.8        92,784    |       5         6        83.3

                    36 to 60 ft       1       |     C       |        50,974        50,974       4.3        50,974    |       1         1         4.3
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     C       |        55,329       106,303       4.7        27,665    |       2         3         8.7
                                      4       |    0.72     |     1,072,101     1,178,404      91.0        53,605    |      20        23        87.0

              (Continued)

                                         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


            Table 5.2-4.  Quarterly prices for QS only transfers


            IPHC                                    Ave             Tot num           Cum    Pct of          QS                       Cum     Pct of
            mngt    Vess                           price              of QS        num of    num QS          per          Num of    num of    annual
            area    cat            Quarter    |    $/QS     |         trans            QS     trans         trans    |     trans     trans     trans


             3A     <= 35 ft          1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |    0.68     |         9,534         9,534       7.5         1,907    |       5         5        55.6
                                      4       |    0.71     |       117,431       126,965      92.5        29,358    |       4         9        44.4

             3B     Freezer           1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |     .       |             .             .        .              .    |       .         .          .

                    > 60 ft           1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |     C       |       201,892       201,892     100.0       201,892    |       1         1       100.0

                    36 to 60 ft       1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |    0.38     |       174,857       174,857      28.5        43,714    |       4         4        66.7
                                      4       |     C       |       439,142       613,999      71.5       219,571    |       2         6        33.3

                    <= 35 ft          1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     C       |        14,405        14,405      18.8        14,405    |       1         1        33.3
                                      4       |     C       |        62,240        76,645      81.2        31,120    |       2         3        66.7

             4A     Freezer           1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |     .       |             .             .        .              .    |       .         .          .

                    > 60 ft           1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     .       |             .             .        .              .    |       .         .          .
                                      4       |     C       |       106,692       106,692     100.0        53,346    |       2         2       100.0

                                                   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

              (Continued)


            Table 5.2-4.  Quarterly prices for QS only transfers


            IPHC                                    Ave             Tot num           Cum    Pct of          QS                       Cum     Pct of
            mngt    Vess                           price              of QS        num of    num QS          per          Num of    num of    annual
            area    cat            Quarter    |    $/QS     |         trans            QS     trans         trans    |     trans     trans     trans


             4A     36 to 60 ft       1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     C       |        39,557        39,557      79.6        19,779    |       2         2        66.7
                                      4       |     C       |        10,112        49,669      20.4        10,112    |       1         3        33.3

                    <= 35 ft          1       |     .       |             .             .        .              .    |       .         .          .
                                      2       |     .       |             .             .        .              .    |       .         .          .
                                      3       |     C       |         8,001         8,001      19.9         4,001    |       2         2        66.7
                                      4       |     C       |        32,174        40,175      80.1        32,174    |       1         3        33.3




                                                  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