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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Chispas who wrote (660)	2/25/2004 4:50:57 PM
From: mishedlo	Read Replies (1) of 116555

Tanker post by Harmy on the FOOL Tanker demand will grow by at least 3% in 2004, estimates Jefferies & Co., the New York investment-banking firm. The demand could be more if the most recent International Energy Agency projections are correct. The addition of new ships minus the scrapping of old ships, however, will result in the global tanker fleet growing by less than 3% in 2004. Moz A quick Google search shows that around 3500 tankers of 100,000 dwt are in business today. A 3% increase in fleet size would mean that 100 new tankers will be built. Not sure that this is correct but the number is substantial anyway - and the US will not build one of them !! Regards Harmy Google - By the late 1990's this had risen to almost 3,500 ships. During the same period the size of the average tanker grew from about 5,000 dwt in 1900 to 100,000 dwt in 1979, after which it declined slowly before levelling out at around 88,000 dwt in 2000.

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