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Re: Projected dividend............................................ Thanks Neil..all of that is very true and I certainly still don't have a really good feel for what the DSSPF dividend capacity will be in 12-18 months. That dividend capacity, however, is exactly what will determine the Deep Sea Supply share price over the next 12-18 months. One positive factor might be that the recently lowered leverage for Deep Sea Supply [to the approximate 50% level] due to the John Fredriksen led and instigated and financed restructuring might enable more cash flow from the "other 32.5 vessels" in the fleet to be used for dividends vs. interest payments. I hope that is the case...dividends to equity holders are always preferable to interest payments to banks... I will hang on every word in every future conference call and will read every word of every quarterly report...and try to fully understand what the potential ultimate dividend capacity will be..because that is what will determine the ultimate share price. It is positive that insiders got shares at 9 Kroner and that is now about $1.44 so that might be the floor [or a floor] as we await the dividend answers...which won't become clear soon. Getting in early on a JF deal is usually profitable. And I expect this one will be. But, the contract lengths in the offshore supply vessel sector are not as long as they are in the offshore drilling sector...so..some caution is certainly warranted.. Whatever happens, we know that Fredriksen owns 35% of Deep Sea Supply and if it fails he will lose more $$$$ than the small shareholders...[although he can certainly well afford to do so]..but, after 12 years of close observation I note that he does feel a burden to do the best he can by the small shareholders and has clearly demonstrated that concern many times over the years in several of his companies. TR |
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