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No. of Recommendations: 1
I saw the ASC news on the new share offering and the intent to acquire new vessels. I had assumed a situation
where an owner of MR newbuilds could not come up with the funding. If it is a FRO sale, I'm not entirely surprised.
The MR tankers are a set of vessels with lower margins than the other vessel categories. Unlike the LR2s (built at
Chinese shipyards), the MR tankers were built at South Korean yards (higher quality, or at least, perceived higher
quality). FWIW, there was a similar rumor a few months back with a sale of two of the MR product tankers. But
nothing seemed to come out of that

Meanwhile, FRO shares have been trending upwards very nicely since the company released Q1 2016 results on 5/31/16.
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