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4. IT SEEMS UNLIKELY THAT SIR Y K WILL WISH TO DISCUSS SHIPPING MATTERS (PARA 3 OF 1ST TUR). IN RECENT YEARS, HE HAS DISTANCED HIMSELF FROM DIRECT INVOLVEMENT IN SHIPPING LEAVING THIS TO HIS SENIOR VICE-CHAIRMAN AND SON-IN-LAW, DR. THE HON HELMUT SOHMEN (WHO IS ALSO MANAGING DIRECTOR OF DAL). SIR Y K'S FLEET HAS MORE THAN HALVED IN THE PAST 5 YEARS TO LESS THAN 70 SHIPS WITH A COMBINED TONNAGE OF SOME 9 MILLION DEADWEIGHT. COMPANY POLICY IS TO DISPOSE OF REDUNDNAT OR INEFFICIENT TONNAGE AS IT IS RELEASED FROM CHARTER. THE AIM IS TO KEEP A CORE OF PROFITABLE AND EFFICIENT SHIPS SO AS TO BE IN A POSITION TO CAPITALISE QUICKLY ON ANY FUTURE UPTURN IN THE SHIPPING MARKET.
YOUDE
LIMITED
ико
MAED FED
LEGALAOVS meWilson
COPIES TO
HITGO LONDON DTP\IAD
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