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Author: Hohum77 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3118  
Subject: Mid Aug 2008: Tanker Update Date: 8/15/2008 9:59 PM
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Hi,
A few changes- as mentioned last month, TOPS and TRMD got moved over to the "LNG + Refined" group. Like the Dry Bulk thread,
not all companies have reported so it will be a stretch update.

Stock	31-Dec	15-Jan	15-Feb	15-Mar	15-Apr	15-May	13-Jun	15-Jul	15-Aug 
ATB 22.13 19.99 20.46 20.09 22.96 23.88 23.00 21.97 18.72
DHT 12.24 10.28 12.02 10.74 11.36 11.11 10.27 9.24 9.18
FRO 48.00 40.63 46.22 43.84 50.35 61.56 63.01 61.82 57.94
GMR 24.45 22.73 25.59 21.47 24.69 28.16 25.38 25.16 24.42
NAT 32.82 30.18 30.29 26.30 31.83 38.90 37.76 37.82 39.37
OSG 74.43 64.30 65.20 57.81 73.07 82.43 78.09 78.36 70.06
SFL 27.71 25.77 27.36 24.84 28.24 31.29 28.49 29.14 27.56
TK 53.21 45.25 44.50 38.89 45.29 49.89 45.86 39.88 34.65
TNK 22.00 16.03 17.70 14.86 18.00 23.81 21.84 22.36 18.82
TNP 37.00 32.35 34.25 31.43 31.50 35.54 36.33 35.60 34.06
TOO 25.15 24.05 24.17 21.68 21.81 22.11 19.85 18.16 15.79
VLCCF 24.15 22.52 27.25 24.09 27.02 31.93 31.48 30.45 28.94
1388 1080 1209 1553 1971 2010 2023 1354


All tanker stocks negative for the month with OSG, TK in
particular, taking a 10+% hit. Tanker rates are sliding

SFL - sold 2 newbuilds. The ensuing discussion was quite
interesting
http://boards.fool.com/Message.asp?mid=26868408&sort=whole


GMR swooped in on ATB, that killed my theory on the target for SFL's new cash.
The deal is a stock exchange deal that doesn't close till Q4. I dislike all-stock deals - one never knows how
volatile the acquiring company stock is going to between the announcement date and actual merger date.
http://biz.yahoo.com/ap/080806/general_maritime_arlington_ta...

OSG - Normally a company would get rewarded for these qualities- increased revenue, 40% dividend hike,
share buybacks but OSG has slipped about 15%.
http://biz.yahoo.com/bw/080729/20080729006447.html?.v=1

Also, cleaning up its "other" category and selling two Dry Bulk vessels
http://biz.yahoo.com/ap/080813/overseas_shipholding_vessel_s...


TNP - Reported 40% revenue increase, 85% earnings increase
http://biz.yahoo.com/prnews/080801/nyf007a.html?.v=1

TK - Took hit for accounting errors
http://biz.yahoo.com/iw/080807/0422851.html

TOO - maintained dividend, accounting restatements
http://biz.yahoo.com/iw/080807/0422854.html

NAT - Good Q2 results, hiked dividend to $1.60/sh. With rates sliding, Q3 could be a slight letdown.
http://biz.yahoo.com/ap/080808/nordic_american_tanker_divide...


SFL, VLCCF, FRO, DHT still to report, results continue.

Enjoy,
Hohum
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