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To: Bid Buster who wrote (262448)	10/2/2003 1:11:40 PM
From: AuBug	Read Replies (1) \| Respond to of 436258

bb, thx for the NAT analysis, if $4/share is the real liquidation value then buying now would just be betting on the cum. I wonder if there isn't some factor, taxes or something that makes these tanker deals less attractive to the majors? I also wonder what their value would be if they sought other leases? Looks like the SuezMax rates are dropping so why lock in high rates. It doesn't make me want to take out a mortgage and a few visa cash advances as if I was some kind of naswacky trader ;-) I think I'll wait for lower prices. Galbraith's has an interesting phase out chart that implies the useful life of these tankers is 25 years, NAT tankers have plenty of life left in them. galbraiths.co.uk galbraiths.co.uk