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Vet67to82 (< 20)

Shipping 'n $200 crude



June 21, 2008 – Comments (0) | RELATED TICKERS: DHT , FRO , SFL

 After the Russian tanker single hull (SH)tanker broke apart in a storm 11/11/2007 and the Heidi Spirit (SH) tanker was damaged by a barge 12/7/2007 the double hull (DH) spot market day rates went to $150,000 per day.  There is nothing so far to indicate that South Korea has dropped the criminal charges against the Heidi Spirit captain, crew, etc.  Do a search, read the articles, single hull tanker shipping is real cheap, 'cuz no one wants to hire them. Every tanker company would require a shipping manifest.  If the Iranian crude is stuff nobody wants right now why not rent cheap SH tankers to store it?  Why use DH ships that you're paying $150-200,000 per day for?  Could it be that Iran knows the world's crude oil supply it dependant on less than 700 DH tankers.   Every tanker Iran takes out of the market is one less tanker to transport Saudi, Venezuelan, Nigerian crude, etc. That's your weak link.
  We know Iranian government is aggravated wih the US and the EU over Iran's uranium enrichment efforts.  Less known is Iran's desire to re-establish the Persian Empire.  Could it be Iran's already attacking the U.S., the EU, and the rest of the world? We know Iran repeatedly threatens to destroy Isreal.  We know Iran is arming disident Iraquis, Iraqi insurgents, Hezbola, and Hamas.  It was just reported that a fast attack boat attacked a deep water rig/ship off Nigeria.  Iran's navy uses these fast attack boats.  Has anyone bothered to determine where the Nigerian rebels are getting their weapons? The Nigerian rebels made it clear they didn't accomplish their goals so they intend to attack again.  I think it'd be a good time to capture some of these rebels and get some answers.  I'm highly confident, if you capture some of these rebels, you'll see the price of crude drop $50 per barrel.               

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