No. of Recommendations: 2
FWIW, commercially managing the DHT vessels would mainly add a fee-for-service type revenue stream.
It probably would add a small, safer revenue component unless FRO created some type of profit-share
component to the deal. The reason it makes some sense is that when vessels chartered to
OSG had their charters, DHT mgmt sorta opted for an easy-out and just left their vessels in
OSG pools, or scrapped the vessels. If OSG continues spiraling down, and into BK, then the easy-out
is not there anymore, and DHT mgmt need to find other options. Since DHT Eagle is a VLCC
on leaseback to FRO, it seems logical to ask them to manage other tanker vessels.


The NNA position in the Trading ac is gone. Closed out the position there, but still have a
token NNA stake in the Roth ac. Their charter coverage means NNA have good protection on a rough
tanker market and the ability to maintain their dividend payout (for probably at least 5-6 more
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