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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (4731)	9/28/2001 1:00:11 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 33421

John: At this time I expect the NAT dividend to move towards its base rate of $1.36 for a couple of quarters (look what happened in 1999). Long term (after 2004) when the scrapping of single hull ships intensifies they (ULCCF) both should be good for a few years. I like NAT over ULCCF due to the complexity of ULCCF's financing arrangements (I read an annual report and they have loans, leases, swaps which I'm sure if to the company's financial advantage but it adds complexity not seen in NAT). NAT used to trade @ a 13% dividend so it can see $10 again if the charter rates go low enough. TA wise I have $12.5 as next support and then $10. Tim