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King of the Sea: Oil Tanker Tycoon

The shippers have moved higher recently with concerns of disruptions in the Suez canal actually benefiting these stocks. (The thesis is, the cargo will have to be shipped farther – a bullish thing for these companies.)

And with this sector landing in the spotlight Karen Finerman is watching moves made by oil tanker tycoon John Fredrikson.

She says Fredrikson has taken a 13D position in Knightsbridge Tankers and she’s intrigued.

“Right now oil day rates are very low but if the Suez canal closes and they have to go further it would use up the excess capacity that’s been weighing on day rates. Also I wouldn’t be surprised to see people hoarding oil and using the tankers as storage.

Brian Kelly thinks Frontline is also worth a look.

According to host Melissa Lee, it the Suez Canal closes it could result in up to 6,000 miles of extra transport.


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Trader disclosure: On Feb 10, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (VRTS); Terranova owns (C); Terranova owns (UPL); Terranova owns (GM); Terranova owns (PEP); Terranova owns (APA); Terranova owns (CVI); Terranova owns (SU); Terranova owns (CNQ); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman's firm is short (IJR); Finerman's firm is long S&P puts; Finerman's firm is long Russell 2000 puts; Finerman owns (AAPL); Finerman's firm owns (AAPL); Finerman owns (BAC); Finerman's firm owns (BAC) leaps; Finerman's firm owns (BBY); Finerman owns (C); Finerman's firm owns (GLW); Finerman owns (GOOG); Finerman owns (HPQ); Finerman's firm owns (HPQ); Finerman's firm owns (IBM); Finerman owns (JPM); Finerman's firm owns (JPM) and (JPM) leaps; Finerman's firm owns (MCD); Finerman owns (MSFT); Finerman's firm owns (MSFT); Finerman's firm owns (TGT); Finerman's firm owns (WMT); Finerman and Finerman's Firm Own (BP)

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