Buy the Rumour, Sell the News

The boardroom confusion from oil major mergers is waning, OPEC has vowed to keep oil above $25, the US reserves are low and suezmax owners are having seismic dreams about oil companies hitting the mother lode in West African Angola. As we sit and put pen to paper, drills are being sharpened, checks are being written and we are beginning to see a cloud of dust rising on the horizon – dust kicked up by the offshore carnival rolling back into town.

Ask any shipping professional what the “flavor” of the year is for 2000, and the answer is invariably the same: “oil and restructuring”- a potent cocktail that could amount to a phenomenal year for investors, lenders and advisors to the shipping industry.

We could think of no more appropriate way to celebrate shipping au current than a review of Hvide Marine’s offshore recovery-reliant restructuring. Opening the offshore lens, a bit later in the issue we provide forecasts of where the opportunities are – kindly furnished by various offshore analysts who present their views on the prospects West Africa, Gulf of Mexico, North Sea and Brazil.

This is only an excerpt of Buy the Rumour, Sell the News

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.