They hedged 40% of fleet through 2022 at 30K per day. Current rates are 38K and I believe they break even at 11K. I think normal rates are sub 20K so it seems reasonable.
Looks like blue skies for now but I will be protected at first sign of trend towards normalcy. I didn't look up historicals but I bet stock was under 10 for years. Oil shippers were up 400% then crashed last year with many bag holders. Supply chain issues will be solved far more gradually I would think.
And yes the dividend swings wildly so $2 is possible for a quarter. It will be back to 25 cents eventually.
Looks like blue skies for now but I will be protected at first sign of trend towards normalcy. I didn't look up historicals but I bet stock was under 10 for years. Oil shippers were up 400% then crashed last year with many bag holders. Supply chain issues will be solved far more gradually I would think.
And yes the dividend swings wildly so $2 is possible for a quarter. It will be back to 25 cents eventually.