Today, tonnage fixed to transport crude from the Arabian Gulf to Far East is commanding $61,300 per day, which represents a daily decline of roughly 1.3%.. More bullish sentiments follow
$58,000 is indeed highly profitable. Their Breakeven last year was around $23,000. VLCC Spot price for 2015 1st qtr was $$52,000. @$58,000 they're minting money.
Smart move. this co is a real sleeper. Only a matter of time before it gets discovered. Owned it since $21. collecting 10% div. while waiting. Stats are unbelievable. .. I;m buying more.
I've owned shares off and on last 10 years. I'm back into SFL. Looking at FRO presentation its clear that expenses are down, income is up and they went from losses in the previous 4 qts to a gain this qtr. FRO turned the corner IMO. With the world awash in oil, the remainder of this and next year is going to be a golden time for tankers.
Don't forget the old WS adage, "the trend is your friend"
PSXP is overhyped. Take a look at financial performance of PSXP. Stock Price really didn't do much last 6 months. Reason???, slow down in Distributable Cash Flow. It was 24% last 4 quarters versus 80% last 5 quarters = slowdown. Mr. Market expected higher growth rate. I believe SHLX is much better investment. IMO,
Donn't shoot the messenger -)))))
Agree with your assessment. I've owned numerous MLP's. Had 1 or 2 where, when secondaries were issued, the unit price went up. I suspect Mr. Market foresaw greater growth potential with the additional funding.
Over time there'll be a correlation between oil prices and crc stock price. but, on a day to day basis there need not be any correlation.IMO. people buy and sell for various reason not necessarily tied to oil prices. If memory serves me. we are now buying crc at prices near what the insiders bought CEO.
Suggest a look at SHLX. Great story, yield is 2%, but, it'll have capital appreciation.
I agree. We are buying at lower prices than the insider CEO paid in April.
Let's not forget that SHLX have multiple ways to obtain funds necessary to fund drop downs. The last one was partially funded with private placements. Their current revolver is around $400M.
SHLX can also issue secondaries to partially fund further drop downs. Personally, I'm through buying more shlx until a secondry gets issued. PSXP issued a secondary in Feb. to fund their subsequent $1B drop down.
Naw, they paid premium $ for EROC. 20 times EBITDA is twice the industry norm.
It's sitting at the mid point of the channel. Of more significance to me is that insiders were buying. CEO bought March 13 and director bought May 5 .