Re: Owners must be smart to negotiate 'disastrous' negative tanker markets. Analysts, brokers and owners say savvy trading is required, with prospects bleak in the short term
It's not just managing charters during a down time. It's also about managing your fleet. Some may be looking to buy a ship and some are no doubt evaluating what to sell. Compass reported that a 2017 VLCC with scrubber and water treatment sold to a Greek buyer last week for $71M. DHT has a nice balance sheet so they might be one in a position to buy, but they were neutral when asked during the last cc. They could get one under construction for $90M or do nothing and stay focused on balance sheet management and lowering breakevens. DHT's stock price has been holding up. They will report in the 2nd week of Feb. I sold most of my DHT but am thinking about adding when it goes under $5.