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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (32625)	6/1/2004 1:40:42 PM
From: Larry S.	Read Replies (2) \| Respond to of 206209

Tanker companies gain on JP Morgan upgrade (OSG, OMI) By Mark Cotton NEW YORK (CBS.MW) -- Shares of Overseas Shipping Group (OSG) and Omi Corp (OMM) gained ground in trading Tuesday after JP Morgan analyst Jonathan Chappell upgraded the two oil tanker groups on expectations a likely rise in Saudi oil production will boost business. Chappel upped his stance on Overseas Shipping to "neutral" from "underweight," saying the company's very large crude carrier (VLCC) fleet should benefit from the Saudi move as well as the likelihood that OPEC in general will continue to produce at near capacity. The analyst raised his 2004, 2005 earnings estimates to $4.80 and $4.05 per share respectively from a prior forecast of $3.55 and $2.65 per share. Meanwhile, Chappel lifted his rating on Omi to "overweight" from "neutral," saying its Suezmax fleet is equally well-positioned to benefit from the market boom the analyst is forecasting for 2005, and which will "provide strong leverage over the next several quarters." The analyst upped his 2004 forecast by 30 cents to $1.90 and his 2005 estimate by 35 cents to $1.55 to reflect a forecast for higher spot rates for crude. Shares of Overseas Shipping were last up $2.98, or 7.8 percent at $41.12 while Omi shares rose 62 cents, or 5.9 percent, to $11.12 i bot VLCCF last week. anyone have opinion how VLCCF compares with OMM and OSG? tia. larry

To: Tommaso who wrote (32625)	6/1/2004 2:03:00 PM
From: energyplay	Respond to of 206209

Agreed, hurricane effect is mostly a short term pop, and for Cat 2 and smaller stroms, current production continues, and price effects are gone in a week (or less, as I found out the hard way). Biggest long term effect of small storms is to slow /postpone drilling. Now that we are on the drilling treadmill, postponning drilling will be much harder to catch up - there are also fewer offshore rigs, and less spare drilling capacity. Strong hurricanes, like Cat 4 and 5, can mean production shutdowns, and since they are larger, earlier evacuation and later return. In the heavily drilled areas, I think there is also a transportion capacity issue, so evacuation has to start earlier, since there aren't enough helicopters boats to get everyone off in 12 hours. Comments on effects of hurricanes would be welcome. ********* I beleive one or 2 brokerages upgraded OSX stocks today. Lots of talk on CNBC & Bloomberg about Mel Karmaizian, Viacom ,etc. Very centerd on New York media business. Oil and gas prices, China, pushed off front page. Apologies for spelling today, fingers are stiff cleaning house this weekend, and my typing is loussy.