Re: Risk taking...
You do realize that the Suezmax fleet is going to expand by about 30% in 2017, putting NAT's older ships at an even bigger disadvantage? They already earn $2k-$3k less/day because of their age, and many are due their 20 yr surveys in 2018 - will it be cost effective to put in the necessary upgrades (BWM, low sulfur diesel), or will NAT have to scrap a sizeable part of it's fleet, for which replacements will have to be paid for partly with dilution since they've already stretched out their existing LOC?