Lee 99

Super Tankers and Super Volatile Oil Prices

Good article, somewhat substantiated by Eugene Bukoveczky's 'contango' article published today by investopedia, but with better math.
The tanker industry is, can be and has been quite perplexing over the last decade. The best predictor, for some obscure reason, on stock price is the price of crude. That doesn't look good for FRO, but their management is very creative in times like this. I would not short at these levels.
It would be interesting to know what rates the tankers were getting for storage. Has to be less than transport w/ no bunkers or crews to pay for.