Have you noticed the recent run-up in the shipping industry?
Take a look at Yang Zi Jiang. Its recent bottom is at around 1 july, which is also the start of the run-up in the crude oil. This coincidentally also is the low of a oil tanker company in US, Nordic American Tankers. Recently I mentioned that this American company will benefit from the high oil price.
Check this article out:
Guess which company in singapore is closely linked with this high oil price? Yes, I believe some funds in america or asia who saw this increase in oil price or the oil tankers industry as an opportunity to buy YZJ.
Oil price chart also bottom on 1 july:
Beside YZJ, who has run up for a few days, I believe Cosco also catch on the wave these 2 days. Do take note of this stock. Look at the white marabuzo candles.
COSCO: Secures Contracts For Stinger Barge And Oil Tanker Worth US$36 Million.
10 Jul 2013 10:00
COSCO Corporation (Singapore) Limited is pleased to announce that COSCO (Dalian) Shipyard Co., Ltd, a subsidiary of the Company's 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract from an Asian company to build an oil tanker of 22,000 dwt. The tanker is scheduled for delivery in the fourth quarter of 2014. Separately, COSCO (Zhoushan) Shipyard Co., Ltd, which is also a subsidiary of COSCO Shipyard Group Co., Ltd., has secured a contract from a European company to build a stinger barge. The barge is scheduled for delivery in the first quarter of 2014. The total value for the two contracts is over US$36 million...
If you believe like me that oil prices in the mid term be above $100, these 2 companies might be worth looking at, and which might indeed benefit from this oil tankers boom or ship building contracts.
Will NOL catch up with these 2 companies? We shall see....