Tor Olav Troim is a famous, rich Norwegian shipping magnate who spoke at last week’s Sohn Conference. He basically pushed two of his stocks:
Frontline is the spec that is “an aggressive play on the shipping cycle.” To wit:
+ New build prices are at historically low prices.
+ New vessels have significant fuel efficiency.
+ High potential future reward (his words).
Seadrill is a play on the strong demand for oil drilling rigs by oil companies — from BP to Excxon, from Chevron to Statoil.
The next big oppoortunity will be in shipping LNG gas from the U.S. Says Tor, you can buy “standard” gas in the U.S. at $1 to $2 a mmBtu, add a transportation cost of $2 and schlepp it to Europe where it sells for $10, or South America where it sells for $15. He likes the Seatankers Group, but I can’t find a public listing for them.
He also likes Calpine and Dynergy. I didn’t catch all his logic. His Norwegian accent is heavy.
Smelling the lilac and eying New Yorkers. Susan and I went for a promenade Sunday in Central Park It was gorgeous.
The lilac trees were in full perfumed bloom.
And the ducks were in full romance. Neat to watch them watch for each other.
Silly computer stuff.
+ Tell Word and Excel to save your work every minute.
+ Change your outgoing server (SMTP) in Outlook to 587. Don’t even ask why. Just do it.
+ The best “new” Windows laptop is your present one with more memory, a new screen and a new keyboard. You don’t want Windows 8, yet.
+ A Verizon MiFi unit will cost you $50 a month, but’s worth every penny if you travel around town or around the world, you don’t have a hotspot on your smartphone and you don’t want to be exposed to the thieves and crooks trolling public WiFi networks.
+ Get yourself a free Gmail account. One day you’ll need it.
Favorite recent New Yorkers cartoons.
Harry Newton
“thieves and crooks trolling public WiFi networks” To quote Groucho: I resemble that remark.
Harry,
Think “Seatankers” is probably Golar LNG as Tor is on the board of directors there,.along with John Fredriksen’s daughters.