BARGAIN HUNTING IN OSLO: A SKAUGEN STORY

By Nicolai Heidenreich

For the public equity sector, second half of 2000 and most of 2001 have been filled with stories of the tanker sector. And why not? VLCCs earning $100,000 per day and three attempted IPOs of which two were successful is of course very sexy. With OPEC now threatening to lower production even further on the back of slowing demand the picture for the pure tanker companies are not so certain. Both Norwegian and American analysts have downgraded the many household names this last month and very few are ready to make any prediction how the rest of the year will look.

This will lead investors to look at different industries and one of the interesting industries we think will be followed in the short and long term is the gas sector. We have seen it with the ease which Golar LNG raised $280 million in a couple of days in Oslo in early June, and the increased rush for owners of both LNG & LPG vessels to the shipyards.

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