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Tsakos Energy Navigation Limited Message Board

  • figatitan figatitan Nov 12, 2010 5:05 AM Flag

    FRO sees huge demand for China oil import

    Forward freight agreements for Dec. jumped 14 % yesterday. See Bloomberg Businessweek-article of today.

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    • That is my thinking. The price of oil is rising because demand is picking up in Asia. Meaning more oil needs to be shipped. It was only a few years ago that we were nervous that China was taking all our oil and prices were going through the roof and expected to go even higher.Bottom line shipping rates have hit bottom and will start to rise,. TNP will be able to rits contracts at favorable rates and their spot boat rates will also benefit.Thats why theinsiders bought a bunch of shares in the offering.

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