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Author: Hohum777 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3219  
Subject: VLCCF Q4 2012 results Date: 2/6/2013 9:40 PM
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Hmm! ... The company ended up reporting Q4 2012 results today after all.

Looks like the company still owns a VLCC. It could be that the previously reported deal
might have failed. But the vessel has been classified as "for sale"- I wonder if that means it
is non-operational currently. Would make sense as VLCC spot rates are quite miserable.
Since the VLCC is a separate line-item on the Balance Sheet, one can surmise the book value
is inflated. Not a big issue as the debt picture is quite reasonable, plus there's some
restricted cash to cover charter issues.

Maintaining the dividend is nice for shareholders. But that also depends when one purchased
shares to begin with. My numbers indicate that it is still selling under book, but somehow it
still isn't compelling enough for me.
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