I am guessing TNPs NAV is closer to 22-23 with the decreased prices... but still very cheap... according to most recent reports it is still in the 25s... i guess i am more conservative... but i fully agree with you...

TNP has a lot of room to run... nice thing is TNP owns most of their ships where as FRO rents most of theirs...

Great thing is as demand picks up for oil... or as oil prices increases... the oil providers will be shipping more oil... and with the increased demand... comes and increased spot rate...

as the spot rate increases... so does profits... and with higher spot rates the value of their ships also increase...

another side not

HALF of TNPs fleet is Ice class ships... this might not sound great... but with Russia being the #1 oil producer... the ships have to travel through the ice of the baltic sea... these ice class ships are in a lot less supply then normal double hall ships... so they demand a much higher daily rate...

and this should be one of the coldest winters... so here comes more oil demand...


Credit Suisse "based on current freight rates, both the container and tanker sectors look to be near their cycle troughs"
http://finance.yahoo.com/news/Credit-Sui...