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Greyson Nguyen
Greyson Nguyen

Up Chelsea Vs Nigeria By Big Tanker

He bases his latest investments on the plunging prices of vessels rather than on economic and petroleum growth forecasts, which he says are too uncertain to be useful. At $535 million, the cost of a deep-water rig in Singapore yards is down 31 percent from its 2008 peak, and Chinese and South Korean shipbuilders are accepting new supertanker orders for about $80 million, half of what they cost at their high in 2007.

up Chelsea vs Nigeria By Big Tanker


Proudly old school, Fredriksen shuns computers and is fond of wearing a cravat. He insists on reading everything on paper and personally maintains records on his companies in 19 suitcases. He constantly rummages through them at his Chelsea office, hunting for patterns that will help him discern the state of play in the tanker cycle.

Fredriksen squared off against the Iranian national tanker company after it fell behind on $10 million in lease payments for five of his tankers operating in the Persian Gulf, Kristiansen says. Fredriksen confiscated the ships, some loaded with oil, moved them out of Iranian waters and refused to give them back until Tehran paid up.

The Iranian navy dispatched a gunboat to change his mind, but U.S. warships, which were escorting Kuwaiti tankers through the Gulf, steamed between the adversaries. The confrontation ended when Fredriksen agreed to sell the tankers to the Iranians. 041b061a72


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