GLNG is probably the most interesting chart I have seen today. It is not a proper double bottom base, because the second leg down did not undercut the first (it is also shorter than a normal double bottom). Despite that,...(read more
It wasn’t what you would call a good day on Wall Street on Wednesday. The market had a rollover in the afternoon and a lot of large-cap stocks go hit. Some of the stocks, though, that we follow, and a few new ones that we noticed, had a pr...
The market had a spectacular day on Tuesday and a lot of the stocks that we follow had a wonderful day. So, now let’s take a look at some of those stocks.
Abraxas Petroleum Corp. (AXAS), a junior oil stock, is moving again. Consolidati...
Golar LNG (GLNG) Company Overview
(NASDAQ: GLNG) owns and operates a fleet of vessels that transport liquefied natural gas
(LNG). Golar is unique in that it is dedicated exclusively to LNG transportation, unlike most of its competitors, which instead concentrate on crude oil
As of June 2008, the company had 13 vessels under its management,
two of which are operating in the spot market
and the rest of which are employed under medium- and long-term charters.
Golar's business depends on the demand for liquefied natural gas, a compressed form of natural gas that is easy to store and transport. Since 2000, LNG consumption in the U.S. has grown at a rate of 8% per year, and demand from countries in East Asia continue to drive world natural gas use. Simultaneously, as more shipyards are building LNG tankers, the cost of an LNG vessel has gone down as well, although LNG tankers are still relatively more expensive to produce than crude oil tankers. For instance, a 70,000 tonne-capacity LNG tanker delivered in April 2008 cost $160 million, while a typical 200,000 dwt to 300,000 dwt VLCC tanker cost $86 million in 2007. As a result of environmental concerns and the high price of oil, natural gas is becoming an attractive alternative to crude oil. Golar is betting on this trend and has plans to expand both its fleet and its offering of services along the LNG supply chain.
(Read more at Wikinvest )