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AnderL

05/12/08 11:25 PM

#4 RE: frenchee #3

Not just on techincal merit. Seasonally crude oil inventories start to wind down some time after May and into the summer months. We can't be sure when inventories start to drop but when they do it typically reduced demand for imports and less demand for transportation. I expect US imports to be runnign around 9 to 9.5 million barrels a day and China to continue to take in about 4.0 - 4.5 million barrels a day. I'd be happy for some summer weakness to pick up some additional shares in some of these shippers over the long run.