1. Most Discussed
  2. Gainers & Losers

War Drums Beat Louder

  1. xerxes_ph

    9,081 Posts.

    U.S. Hires Ship to Move Tanks to Persian Gulf (Update1)
    By Bill Murray

    Washington, Sept. 4 (Bloomberg) -- The U.S. is chartering a third cargo ship to move military equipment from the U.S. to the Middle East where it has pre-positioned tanks, trucks and other combat gear, a military spokeswoman said.

    A ship capable of carrying 56,000 square feet of cargo will carry 67 pieces of ``track equipment'' matching the weight and dimensions of a U.S. M1 Abrams tank and should ``be ready today,'' said Marge Holtz, director of public affairs for the U.S. Military Sealift Command. Loading could be completed within 24 hours.

    ``Those ships are used to moving quickly because it's a money- maker for them,'' Holtz said. This is the third ship the Command has hired in the past month, she said.

    The ship is to sail from an unidentified port in the U.S. Southeast to an unspecified port in the Middle East, Holtz said. Currently, the U.S. pre-positions tanks, trucks, ambulances and tanker trucks on ships in the vicinity of the British island of Diego Garcia in the Indian Ocean and other offshore locations.

    In the U.S., crude oil for October delivery rose as much as 30 cents, or 1.1 percent, to $28.09 a barrel in electronic trading on the New York Mercantile Exchange. An attack on Iraq, the fourth- largest Middle East producer, may halt the country's oil production and disrupt shipments from the Persian Gulf.

    Last month the Sealift Command contracted for smaller ships capable of carrying 48,000 square feet of bulk cargo that includes wheeled vehicles, ammunition, and helicopters to an undisclosed Red Sea port.

    ``There are 41 pre-positioned ships around the world'' carrying military supplies, Holtz said. ``We're in the market virtually every week.''

    The U.S. since 1993 has pre-positioned weapons, supplies and vehicles in Kuwait and Qatar and on vessels in the region to equip at least three brigades of troops -- roughly 9,000 to 15,000 soldiers who would fly there from the U.S.

    ©2002 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.