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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: dfloydr who wrote (45567)	5/27/1999 12:29:00 PM
From: ChanceIs	Respond to of 95453

Speaking of tankers..... I am holding OMI Corporation (OMM) as a medium term play: biz.yahoo.com They have a price to book of 0.42. Transportation was trashed with the Asian flu. When the missing barrels are seen to have evaporated, the US crude stocks are drawn down to 200MM barrels (say October 1), Asia displays more recovery, and OPEC starts exporting again, these stocks should rebound nicely. OMI has been profitable through the downturn. There is currently a surplus of tankers and still more new tonnage on the books for '99 and '00. But there are a number a ships that will be forced out due to lack of double hulls and age. Anybody care to venture an opinion?