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Well thats interesting. I would think that its a strong possibilty that Mr. John Fredrikson may become a U.S. citizen. One thing is for sure he definately has a plan. Im certain its a good one too....!
Xanadu,
Here is a headline from LLoyds List about OSG i think we are right on the money here..
New Jones Act tanker for OSG
Rajesh Joshi New York - Tuesday 15 April 2008
OVERSEAS Shipholding Group’s Jones Act product tanker newbuilding programme has progressed to the fourth ship in the series being delivered in Philadelphia, writes Rajesh Joshi in New York.
The 46,000 dwt Veteran-class tanker was named the Overseas New York in a christening ceremony last week. The ship has been chartered to Shell Oil Company...
I will look into that. I have a larger share position in Golar than i do in FRO because i didnt stock up when it languished in the 10 - 12 range for a year or so. I expect big things from that stock also. The FRO group as a whole is becoming a major player in global energy production and transportation. I couldnt really be happier with my investments. They almost all are with JF Companies.
I will look into that. I have a larger share position in Golar than i do in FRO because i didnt stock up when it languished in the 10 - 12 range for a year or so. I expect big things from that stock also. The FRO group as a whole is becoming a major player in global energy production and transportation. I couldnt really be happier with my investments. They almost all are with JF Companies.
Xanadu,
Is that the reason GLNG started going up a few days ago. I thought it was somehow related to general good news amongst FRO group in general. Also because LNG went about 10 dollars per unit U.S. If so can i stop working and start chasing the chicks over here. This working every day business can really get you down. Besides i would be a great rich guy.
Im hearing crazy rates of 600,000 McGillicudys a day for rigs off Brazil. I have 200 shares now so i just updated my bid to make sure i dont miss the boat on either of those. Added a couple of cents to each.....
Thanks Buddy...
Xanadu,
Just put a limit order in for 100 shares of Seadrill @ 28.65 U.S. and another order in for Independent Tanker at 1.74 or better so i have my fingers crossed waiting to see if i can pick these two gems up......!
Yes i can buy directly on the Oslo from the Global Desk of my brokerage. Well my theory is that he is doing bareboat service so ITCL is not actually operating the boats they are leased without crews to the 3 petroleum shippers. My guess is that they are all clean tankers and they can operate without violating the Jones Act. California needs gasoline because they have a huge economy. Its the size of many countries economies. Combine that with no new refinery capacity on the horizon i think the OSG / FRO situation could be a reverse merger with an entirely new company name. In which ITCL would feed off all of the table scraps which would fill an elephant..... !
Xanadu,
I feel like its going to be one of the best investments i have made up until now. I think it has dropped slightly since it ipo'd on the Oslo Bors. I have been counting down the days until it comes off restriction. I really think its going to be quite a compliment to the JF group. I also think its a win win situation for the companies that operate under the Jones Act. My assumption as to why they are operating these charters as Bareboats is that the three companies involved are operating under the U.S. Jones Act. You would probably know better than me knowing your acumen for these things. I think JF has accurately gauged the lack of refining capacity especially on the west coast of the u.s. Once again these are just theories of mine. As you know i can be way out in left field so let me know what you think....
Thanks Buddy...
Joe
Its unlikely that is going to happen from what i have been reading it looks like alot more other foreign countries are going to start competing with the western refineries. This looks like more refined product (gasoline) will be shipped all over the world. Since the high U.S. prices are more to do with the U.S. having outstripped our refinery capacity. Two more factors to take into consideration is bulker conversions and possible consolidation in the Tanker sector. Also since more and more oil is going to be produced from deep sea drilling that oil is going to create new logistical challenges and more routes for oil to travel all over the world. Independant Tankers is coming off restriction tommorow at 1.65 U.S. Dollars. I am buying at 7:00 est. Lets hope it turns out to be a good one...
Im thinking about pickup up a few more shares of seadrill tomorrow... Sometimes you have so swim with the fishes..
Independent Tankers Limited looks like a great investment. They are going to specialize in bareboat charters. They will work directly with Frontline according to what i have read. Looks like they will be working with Chevron and BP through three companies based in California. This looks like a tremendous opportunity. Xanadu, i put in a limit order for some Free but im waiting to see if it gets filled. I like Free also. If you have any information about ITLC please let me know. I cant buy it here for a couple of more weeks but im chomping at the bit...
Recs: 4 MOL talks about "2010 problem" in dry market
Saburo Koide, executive vice president of Mitsui OSK Lines (MOL), recently met a Kaiji Press reporter, and referring to the "2010 problem" concerning the fear of dry market plunging due to massive bulker completions in the year, expressed his belief that it is completely unthinkable for the market to collapse because of that phenomenon.
The 2010 problem in the dry market involves the concern over the collapse of the ship supply-demand balance and the slowdown in the market resulting from the concentrated completion in 2010 of massive volumes of bulkers ordered mainly from emerging shipyards in South Korea and China.
Of these vessels, large-size bulkers with capacity of 100,000 dwt or above, centering on Capesizes, are drawing much attention as the statistical figures point that 300 such ships are slated for completion in 2010, accounting for about 40% of the current global fleet.
In the shipping/shipbuilding industry, however, few think that all newbuildings will be completed according to plan. It is because these emerging yards have bottleneck problems of difficulty in securing necessary machines/materials such as steel plates, human resources and funds. In light of this, following three will be the main points in forecasting actual supply volume:
(1) Whether or not shipyards themselves will be completed according to plan.
(2) Granting that shipyards are completed as planned, whether or not they can secure their required machines/materials to build the ships.
(3) Assuming that they have built the newbuildings, if they can observe the deadlines set in construction contracts.
Koide pointed out that, "There is no doubt that the shipyards in China and South Korea will swell in number and that the supply capacity will expand. We recognize that. However, I think things will not progress according to plan," indicating his view that the completion volume in 2010 will be smaller than it appears.
The fact remains, however, that massive volumes of newbuildings will debut from here on even if the quantity of actual completions has become smaller than the statistical figures. In this regard, Koide commented that, "Capesize completions have so far been too small in number.
There is an overwhelming shortage in ships, so it is only natural that newbuilding supply should grow and it would be beneficial to the world.
Since the incoming supplies will just cover the hitherto shortage, it is totaly inconceivable that the massive completions will cause the market collapse."
Citing that the ship demand is also expected to significantly balloon in the future, Koide explained that, "On top of iron ore shipments to China, coal transport to India and Brazil will also manifest wide-margin growth. In addition, hauls to faraway destinations have become conspicuous.
The burgeoning ship demand will absorb the newbuilding supply. It may not be accurate any more to forecast the future market based on the trend of China-bound iron ore shipments alone."
Further, Koide pointed out that the world focuses too much on Capesizes in the so-called 2010 problem. "We should never forget that the fields of growth cover all ship types and kinds, and are not limited to Capesizes. Ship demand in all fields will be strong when seen from a long-term perspective.
Deals for VLCCs and Aframax tankers will surely surface and negotiations for LNG carriers will also be reactivated soon. As for large-size containerships, if 10,000-TEU boxships become the standard vessel, it is probable that orders for such boxships will surge.
There are many ship types that are currently stuck in the doldrums in terms of new orders, but they will eventually pick up steam.
So, it is a big mistake to argue on whether or not the entire construction capacity will be directed toward Capesize construction." With this, he indicated that the construction of Capesizes in the future will be reined in.
Koide also categorically stated that when bulkers are viewed in terms of ship type, 20,000-30,000-dwt Small-Handy bulkers would be irrelevant to the 2010 problem.
He further stressed that emerging South Korean and Chinese builders are focusing on large-size ships, indicating their virtual lack of interest in small-size vessels.
Koide said that, "In Japan as well, yards that build these small ships are also limited. Small-Handy bulkers are characterized by a low level of newbuilding orders and a large number of aging vessels.
These ships load diverse cargoes and are subjected to enormous load due to their frequent sailings, so they have a tendency to reach the limit of their serviceable lifespan faster than large-size vessels not equipped with cranes. In addition, some of them have been disposed of, though these do not appear in the scrapping statistics."
Koide disclosed his recognition that Small-Handies will continue to be a promising ship type due to the small newbuilding supply pressure, many existing aged vessels and strong demand for coastal transports in China.
Count me in on that. When i describe JF to anyone i always say he is very much like an Arostile Onasis. Sad thing is alot of people dont even know who Onasis was. Then i just say forget it.
Count me in on that. When i describe JF to anyone i always say he is very much like an Arostile Onasis. Sad thing is alot of people dont even know who Onasis was. Then i just say forget it.
Xanadu,
I went on the Dockwise website and watched the video conference they had with investors. I was totally impressed. One of the points that the speaker said was dockwise had debt and no one is happy to have debt but he also mentioned the strides they made over that last year have been enormous. I agree with you that this is an up and coming stock and i think your right that JF has not given up his personal holdings. Thank you for your insight my freind. Indeed you obviously have a wealth of information regarding this and it is much appeciated...
Thank You,
Joe
Xanadu,
Re: milner
{The fact that SDRLF decided to sail Phoenix instead of lift her (or was it another semisub?), does not bode well for DOCKF.}
There are some rigs that are too big or too much weight or too much draft for a lifter to carry, could this be the case??
JF may have sold Dockwise, I did not, siting on my only JF related loss.
What is your take on this and do you think JF had to withdraw temporarily from DOCKWISE because of exposure to credit markets ?
What is your take buddy,
Please let me know.
Joe
Thanks Xanadu,
I will check that out asap...
Xanadu,
Sounds like they have a durable competitive advantage. I will take your advice and build a position over the next few quarters and see where it leads. I also have to pick up some ITCL as soon as it becomes available. Thank you so much my freind.
Have a great day,
Joe
Xanadu,
Thank you for letting me know about DOCK i did find it on the Bors. Would you recommend this as a good time to buy it. In my opinion it looks like a great value almost ground floor. I went on their website and just watched the 2007 year end presentation and i was very impressed. 21 vessels and a world wide footprint. Could you tell me if they pay a dividend or plan to
Thanks Buddy,
Joe
Xanadu,
Is that the reason shares of Akeryards have been going up or can that Dockwise stock be purchased seperately. I havent followed that too closely. I have noticed that Akeryards has been rising steadily for the last week though...
Xanadu,
Your absolutely right. I have all the faith in the world in John Fredrikson also. Now im shutting this contraption down and having a good weekend my freind. Thank you so much.. Enjoy your Holiday....
Would you compare GOLAR favorably with TEEKAY LNG? Or are both of them a must for any portfolio...?
You can say that again. I owned FRO and GLNG and SLF here in the U.S. So i felt fairly comfortable taking positions in GOGl and DEESC do you feel they will continue paying good dividends and i should just turn my computer off?
Xanadu,
Is the TK thats flying up today the LNG or the Dry Bulk Teekay..?
Golar is moving up nicely too....
Thanks
Joe
That sounds like a great idea. Dollar cost average with a purchase monthy of a small portion . That sounds like a good plan to me. Thanks
That sounds like a great idea. Dollar cost average with a purchase monthy of a small portion . That sounds like a good plan to me. Thanks
I have a lesser position in that one. Its similar to a stock i like on the NYSE called RIG. Its been a little rough in Oslo over the last few months i check here in the morning before i head out to my office. Sometimes i try to not even look. The reason for that is when i check Oslo Bors and look at the stocks i hold. They can be up in the A.M. and down by the time i check at 6.00 in the evening when the American Brokerage houses update their pricing. So i should really only look once or twice a week. Im trying to update my portfolio to better grades of stock so i dont have to micro manage everything . It can make you nuts sometimes..
Approximately that date. The restriction is 40 days from the IPO on the Oslo OTC. So i think that is approximately April 17th. That is correct though U.S. owners of FRO cannot purchase those shares until it is off restriction.
I have owned Frontline for a couple of years now and it has been my best preforming stock. Golar overtook it for a short while and i have a bigger position in Golar but i must say all of the Fredrikson companies are great. I have Golden Ocean and it has pulled back lately but i think that is temporary and the Dry Bulk Sector is due for a huge comback.... Deep Sea Supply is another great one also..I have that one too.
Im definately buying ITCL . It wont come off restriction here until April 17th or so. I will definately start building a position in that.
I happen to be in agreement with you on that one too. I own Golar. I see that having huge massive growth over the next two years. Right now it has pulled back but i see it rising very soon again. They cut back slightly on the dividend after missing in Nov. I have a great feeling about LNG being the wave of the future and a great alternative for energy...
Looks like the wheels of progress are moving nicely. This is another good move from Frontline. OSG is a good company....
Right now all things considered Soyo is holding its own in a rough market. The stock has not fallen off the table and many stocks that are emerging go through a period where they cant break 2.00 dollars. It needs a few more quarters of good profits to do proper debt service. This is a very good thing. If Soyo had gone to an investment capital broker or financer they would have surely had trouble paying off interest and that could compromise the company. They have chosen the best route for the investors and themselves. It just takes a little longer for growth and solid financial quarters where they can show a pattern of growth. Then this stock will take off. I have seen computer monitors SOYO sells for 200 dollars going for 550 dollars in direct mail mags... Just hang in there.
I agree with you on that 100 percent and i think that makes perfect sense.I only buy stocks that have dividends. Especially if they have low p/e. Investing the dividends back quarterly will also dollar cost average which used to be the big investment stategy. I think its a still a great way to invest...
Thanks,
I am going to buy ITCL as soon as i can. Thats my next priority. I agree with you about this possible recession. Its so difficult to gauge where the bottom is. I would just like to see a stabilization. I think in the long run these emerging economies will benefit from this by not making the same mistakes the mortgage lenders in the U.S. made. So hopefully the cure dosent kill us all we will make it back to safe harbors so to speak.
What a dog day afternoon this is today. Hopefully we can see a rebound on the horizon soon. What is your take Xanadu?
Dont be so sure that SOYO is not going to be way up by the end of the 2nd quarter. They are in alot of stores already with T.V.s. One for Instance is 5th Avenue Electronics. That store is in New York City. Their single store sales are big time numbers. Dont think that Walmart U.S. and other big timers are going to stand by while 5th Avenue Electronics grabs market share from selling lower prices units. After all lower priced units are what people are looking for during tough times. In fact this general economic trouble could help SOYO to post huge numbers.... Something to think about...Dont be suprised to see SOYO's all over the place within a year...
No question about the picture. Its that old saying all over again. " The educated consumer is the best customer"
Its going to be business as usual for a while im sure. As far as getting these televisions into these larger chain stores. It sounds like Walmart is using specific Canadian market cities to see how they go over. The buyers in different regions have their own formulas so until its a proven winner it probably wont be seen. That dosent mean they wont be selling huge quantities of the t.v's in other stores though. The mid market type area's ... No the majors yet.. But its only a matter of time. A better product at a lower price is always welcome in the marketplace..