This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal fluctuations in vessel supply and demand. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and similar expressions are intended to identify forwardlooking statements but are not the exclusive means of identifying such statements.
These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this presentation and are not intended to give any assurance as to future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this presentation might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements.
- The company declared a dividend of $0.32 per share;
- Paying cash dividend for the 40th consecutive quarter.
- 4Q Spot rate of $59,200/day impacted by IFRS 15. On a discharge-to-discharge basis the spot ships earned $63,900/day;
- 1Q 2020 bookings to date affected by too many ships stuck in Chinese port congestion on yesterday’s (low) demurrage rates;
- Continued strong cost control.
Near term headwinds
- Corona virus;
- Limited new ordering;
- Reduced refining margins;
- Traditional seasonality.
- Long term oil demand growth;
- Increasing transportation distances.