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Is this by 2050?

Are you seriously calling for $9 ng?

Weber shows VL storage sums

I am long Jan, Feb, May, and Jan16 calls. When I sell my Jan15s, I will roll them to itm Jan16s to avoid paying too much for theta, etc. I am not looking for huge leverage at this point, just 60-80 delta calls.

FRO likes to primarily operate on the spot market. However if you consider the amount of VLCCs that will be off the market and how this will tighten overall capacity, one could argue it's better to remain on the spot market reaping large day rates rather than locking into a term charter.

Mostly just Reuters or Platts media. The OSPs usually come out around the 5th business day of each month. Traders take supertankers for likely storage of up to 30 mil barrels crude

Traders take supertankers for likely storage of up to 30 mil barrels crude

Oil glut spills into diesel, gasoline as storage demand swells

Middle East Crude-Oman, Qatar Marine under pressure Med Crude-Urals in Baltic near parity with Med for first time since Sept The North/South sour arb has closed.

Less margin and less risk than an outright contract.

Only 1.6 pct of world's oil production at risk at $40 -WoodMackenzie

Not a huge fan, very intrusive. Option to turn it off?

Frontline CEO sees continued solid oil tanker demand

South Sudan's Feb Dar Blend crude oil exports set to rise 4% on month to 4.8 mil barrels More WAF supply hitting the Feb market.

I took the day rate as a cap for both ULCC and VLCC fleets. Economies of scale would suggest a better rate for the ULCC at 3mm bbls. As the most economical it was probably the first to reach an open arb. TI-O will more than likely take delivery of five 600k Brent lots, sit idle against a...

I would average in. I think any pullbacks are going to be bought pretty quickly.

I bought more FRO and TNK today.

I expect TI Oceania to hold a mix of BFOE as it's more profitable than the 12 month Dubai spread. The 1 year Brent spread (G5/G6) is trading around 10.00, while the 12 month cost is ~4.85/bbl. By my economics, that's a very low risk profit of $15mm on 3mm bbls (not accounting for insurance...

EXCLUSIVE-Oil glut spurs top traders to book supertankers for storage at sea

EXCLUSIVE-Oil glut spurs top traders to book supertankers for storage at sea