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Pennybuster

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Pennybuster

Re: None

Monday, 01/12/2015 4:36:47 PM

Monday, January 12, 2015 4:36:47 PM

Post# of 17485
Shares of the world's largest oil tanker shipping company Frontline $FRO surged 18.74% to $4.68 in morning trading Monday after a Bloomberg report late last week that plunging oil prices could stimulate demand for oil tankers to store cargoes.

Consulting firm JBC Energy GmbH speculated last week that oil companies could store up to 60 million barrels of oil on tankers in the next few months.

Large crude carriers will earn an average of $35,000 a day in 2015, according to data calculated by Bloomberg.

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