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Tsakos Energy Navigation Limited Message Board

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  • efficient_frontier2002 efficient_frontier2002 Dec 9, 2004 12:27 PM Flag


    Not only that, but ...

    1. The $7/share is likely to grow rapidly in '05 and beyond due to ...

    a. TNP gradually becoming liberated from its current low-profit time charters. (I really don't care whether TNP increases its spot exposure or negotiates much more lucrative time charters.)

    b. Newbuildings -- TNP said in the last CC that the cost of these 14 ships is around $700M and that the current market values of some of these ships has "almost doubled". (12/9/04 TNP market cap = $750M.)

    2. TNP's 12/9/04 Book Value is around $24. TNP has about the lowest P/BV in the industry. And of course the $24 figure wildly understates the market value of TNP's current fleet of 27 ships.

    3. Finally, the weather is getting colder in the northeast U.S. ...

    ... and this should help all tanker stocks including TNP in the short run.

4.87+0.04(+0.83%)Feb 12 4:02 PMEST