Okay, so lets get the answer to the first question out of the way. Nephology is ... the study of clouds, something the shipping business has not been too concerned with over the past 12-18 months. But, as all good seamen know, it is wise to keep a weather eye out and now might just be a good time to start revising those cloud formations. All the main shipping markets improved during the first half of 2004 (SIW last week). Breezy demand swept away all but those high wispy cirrus clouds that still allowed the sun to shine through. Owners responded to their good fortune by investing more than ever before.
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