Cruising For a Trade
Shares of cruise ships Royal Caribbean (RCL) and Carnival (CCL) have been stuck in the port this year on weak Caribbean demand. Eric Bolling spent some time on a cruise liner recently and would love to recommend the industry. But he can’t do it. Fuel is too much of a factor, he says, as it takes about 85,000 gallons of fuel, costing $2.5 million, to make a round trip.
Instead of the cruise lines, Eric recommends the shipping companies. In the air, it has proven cheaper to move cargo than it is to move people, and it looks to be true on the sea also. He likes Teekay (TK) based in the Bahamas, Chinese shipping company Seaspan (SSW) and the Greek company DryShips (DRYS).
Dirty Trade
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| NORDGENERAL-HU | -- | -- | -- | -- |
| -- | -- | -- | -- | -- |
| RCL | Royal Caribbean Cruises Ltd | 141.92 | -0.94 | -0.66% |
| -- | -- | -- | -- | -- |
| TK | Teekay Corp | 9.23 | +0.07 | +0.76% |
Trader disclosure: On June 14, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Bolling Owns (BP), (ICE), (NMX), (T), Natural Gas; Is Short (FXI), Owns (FXI) Puts; Najarian Owns (MS), Owned (MS) on 6/13; Seymour Owns (AAPL), (BP), Gazprom, (RDS.B), (SBUX), Uranium; Red Star Asset Management Is Short (EEM), Owns Gazprom, Lukoil, Rosneft, Is Short (XOM), (EEM); Gazprom and Lukoil Are On Pink Sheets in U.S. But Trade on Exchange in London CNBC is a service of NBC Universal and Dow Jones
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