Adj EBITDA of USD 120m (~6 below ARCe of USD 127m)
Non-cash one-offs of USD 113.5m impacting the bottom line
Dividend cut from USD 0.35/sh to USD 0.25/sh
Acquires newbuild VLCC with highly attractive risk/reward profile

20 May 2020
Soft Q1, pro-active dividend cut

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Soft Q1, pro-active dividend cut
Adj EBITDA of USD 120m (~6 below ARCe of USD 127m)
Non-cash one-offs of USD 113.5m impacting the bottom line
Dividend cut from USD 0.35/sh to USD 0.25/sh
Acquires newbuild VLCC with highly attractive risk/reward profile