On Tuesday New York-quoted DHT completed the takeover of Singaporean compatriot Samco Shipping, a transaction financed by proceeds from two Wall Street fundraisers.
While a number of investment banks have applauded the $317m deal, which saw seven VLCCs change hands, some tanker brokers believe this praise was premature.
In an email exchange with TradeWinds one questioned the value for shareholders and argued that DHT has turned into “a highly leveraged company built on the hope and prayer of the VLCC market making a full recovery”.
The
