Balance Sheet And LiquidityA shift to a net cash position with substantial liquidity enables debt reduction, opportunistic buybacks and a policy to grow the dividend, improving financial flexibility.
Fleet Renewal And Asset SalesSale of older vessels combined with newbuilding orders on favorable payment terms renews the fleet and realizes asset-sale gains that strengthen the cash position.
Spot Market Strength And Forward BookingsStrong product tanker spot rates and attractive forward bookings support robust operating cash flows and reduce downside risk to near-term earnings estimates, underpinning distribution capacity.