Fearnleys on OET"we are projecting another quarter of bumper profits with an EPS range of 1.2-1.5/sh.
OET is returning capital to shareholders with a 50 cent DPS. Cash at quarter end was USD 26m (plus USD 15m RCF), despite further WC build up. With two time-charters
OET is returning capital to shareholders with a 50 cent DPS. Cash at quarter end was USD 26m (plus USD 15m RCF), despite further WC build up. With two time-charters
commencing in May (3-years at 48k and 8-months at 85k) OET has improved cash flow visibility, supporting further distributions in the coming quarters should the market not fall off a cliff. Trading nearly 50% off steel value OET also can unlock value through asset sales.
//My largest surprise in the conf call was the clear communication about asset sales in order to fight NAV discount. Highly unusual attitude from a shipping management and very refreshing. Contributed to me buying more today//
