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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (15071)	8/5/2002 10:58:29 PM
From: Joan Osland Graffius	Read Replies (3) \| Respond to of 78652

Papaya, NAT has minimum contract payments from BP for their 3 tankers through 2004. I don't think all VLCCF tankers are under minimum contracts through 2004, but they could be. I have not looked at their SEC filings for 6 or so months. These two companies send dividends based on their incomes. VLCCF and NAT dividends have been variable but better than most investments. Last time I looked at the SEC filings they are insured through Lloyds of London. So if one of the tankers is taken out and the stock has no bids it is time to buy assuming Lloyds has capital to pay for the tanker loss. <g> Guess I will have to go back and read the latest SEC filings and see if things have changed. NAT has a nice write up in their SEC filings on the organizations structure. Each tanker is a separate corporation and the whole company can not be taken down by the loss of one tanker. VLCCF could have the same structure but I could not find the discussion in the filing I was reading. Anyway I use these two for higher yield income than CD's and short term treasuries. BWDIK Joan