GLOBAL OCEANBORNE TRADE TO GROW 3% TO 4% A YEAR THROUGH 2002

GLOBAL OCEANBORNE TRADE TO GROW 3% TO 4% A YEAR THROUGH 2002

   Global oceanborne trade is expected to grow 3 to 4 percent annually    through 2002, according to a study released by the U.S. Department of Transportation.

   Trade growth is projected to exceed that of the world’s ocean fleets, which is estimated at one-two percent annually.

   Trade growth will “improve earnings for water carriers,” the report said.

   The latest projections fall short of the trade growth — 4.6 per year — between 1993-1997, the report said.