the Supreme Court from April 1989 to February 1990 to fend off a hostile takeover, is regaining its former strength.

Meanwhile its rival, container leasing and trailer rental group Tiphook, share price is plummeting.

Tiphook acquired a major portion of Sea Containers' fleet in 1990. The Bermuda registered company, Sea Containers, is surging back now, having last week announced the acquisition of the container fleet of privately-owned German Lessor CLOU in a $77 million cash deal.

Sea Containers general manager of communications Mr. Steve Harris said the total size of Sea Containers fleet had been 300,000 teu before the Tiphook sale in 1990. After the CLOU deal, its container fleet should amount to 230,000.

"It's a step in the right direction for Sea Containers,'' said Mr. Harris.

Commenting on the decline in Tiphook's share price, Mr. Harris said "unfortunately, the fall of Tiphook's share price tends to drag our own share price down''.

Tiphook's London share price closed at 137p yesterday. Tiphook's share price tumbled after the company released a statement disclosing the company is to hold talks with its banks on borrowing new funds.

Following last week's statement, Tiphook's slumped to 169p in London. A Tiphook spokesman in London would not comment on the volatile share price.