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Subject:  Stirring the tanker waters Date:  2/21/2013  1:25 PM
Author:  Hohum777 Number:  2828 of 3760

- NNA throws a curveball with a backstop-type offering, around 35M in new shares @ $2.85/sh to
raise ~$100M. I'm guessing a portion will be used to for debt pay-down/vessel impairment,
and some for new vessels (at least, down-payments for newbuilds)

- TNK announced results today (1/21) with the company taking a significant impairment charge.
The more intriguing item though, IMO, is the switch to a fixed dividend. That eliminates the
whole upside potential that TNK used to have when the stock price got pummeled.
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