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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: yard_man who wrote (14447)	5/25/2004 11:48:51 AM
From: russwinter	of 110194

I've already been short PHM and TOL. More on the "MoP talk is cheap" trade: Saudi Spot Chartering The latest booking brings total Saudi spot chartering in June to seven VLCCs to ferry 14 million barrels of crude oil to U.S. shores for arrival in July. The bookings so far are not unusual and compare with similar spot volumes through April and May. The spot Saudi chartering to date is still only half of the unprecedented volume Riyadh moved last year, just before the United States attacked Iraq, when Vela snapped up 14 super tankers to ferry a colossal 29 million barrels of crude to the U.S. to calm oil markets.

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