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Navios Maritime Acquisition Corporation Message Board

  • benpub_one benpub_one Mar 22, 2013 1:23 AM Flag

    Time for some profit sharing!!!

    Published March 22, 2013

    Long-range clean tanker rates at 3-month high

    [LONDON] Clean tanker rates for refined petroleum products on top export routes were mostly firmer with further cargo bookings boosting the Long Range market.

    Long Range 1 tankers, carrying 55,000-tonne loads from the Middle East Gulf to Japan, were at W136.50 or US$18,928 a day on Wednesday at its highest since Dec 17 last year.

    That compared with W136.00 or US$18,776 a day on Tuesday and W131.58 or US$16,990 a day last Wednesday.

    "The firm trend continues East. All prompt tonnage cleared out in all segments and the position lists are getting tight for end March and the first week of April," broker Fearnleys said on Wednesday.

    Sentiment: Strong Buy

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    • I was at two shipping conferences these past few days. STNG CEO was off the charts/over the top effusive about the health of the clean tanker market - not just its prospects but TODAY. This is more than just talking up one's book. The guy is so far out on the limb, he has the most conviction I've ever seen. He will look like the biggest fool if he's wrong, but he makes a damn good case, it's hard to disagree. Anyway, if it comes to pass as he says, NNA should do very very well (as we've all been hoping/anticipating for years now), especially if they have a deal in the works to pick up vessels with all that $ from the recent raise.

      Profit-sharing and higher vessel values are in the cards.

      • 1 Reply to pdnnyc
      • Hope he's right, but I remember all the positive hype about plenty of things in the past 15 years that were flat wrong, and companies went BK. I am with AF precisely because she does not make bets that are extreme. Smart, yes. I was reading that LR rates are healthier than MR lately. But NNA bought mostly MR boats. We may find the plan is to buy more LR boats with new capital

 
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