The world is refining and extracting so much oil and natural gas that record amounts of byproducts are being generated, creating a flood of liquefied petroleum gas for the ships carrying the fuel used in stoves and lighters. Trade in LPG will rise 3.9 percent to 62 million metric tons this year, compared with no more than 2 percent fleet growth, according to Lorentzen & Stemoco A/S, an industry consultant in Oslo. Charter rates will rise 8 percent, the most since 2008, investment bank Fearnley Fonds ASA predicts. Exmar NV (EXM), which operates 29 of the vessels, will return to profit this year and its shares will jump 38 percent in 12 months, according to as many as five analyst estimates compiled by Bloomberg.
Monday, April 30, 2012
Record Fuel Output Returning Exmar’s Tankers to Profit
The world is refining and extracting so much oil and natural gas that record amounts of byproducts are being generated, creating a flood of liquefied petroleum gas for the ships carrying the fuel used in stoves and lighters. Trade in LPG will rise 3.9 percent to 62 million metric tons this year, compared with no more than 2 percent fleet growth, according to Lorentzen & Stemoco A/S, an industry consultant in Oslo. Charter rates will rise 8 percent, the most since 2008, investment bank Fearnley Fonds ASA predicts. Exmar NV (EXM), which operates 29 of the vessels, will return to profit this year and its shares will jump 38 percent in 12 months, according to as many as five analyst estimates compiled by Bloomberg.
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