España
Ben Nolan
Okay. And then, lastly for me, again in the past and even now you kind of have given guidance with respect to distribution growth. As you’re looking into next year, I know it’s early, and I’m not asking for anything official. But, just maybe update us on sort of how you’re thinking about the 2021distributions?
Mark Kremin
It’s to be seen. We review this with our Board every quarter. As you can imagine, there’s a lot of uncertainty due to COVID right now. As Scott mentioned, we’ve been returning capital in various ways. We bought back almost $45 million worth of common. And as I’ve just mentioned, there’s potential. If growth looks better than a higher distribution, if we can get those selective growth and maybe that’s an alternative. So, we really -- we haven’t made a decision yet and won’t be doing. So, we’ll meet again with the Board and continue to keep you guys posted on that.
Freedom is driven by determination
Summary & Outlook
-OET continues to aggressively return capital to shareholders; dividends &
operational outperformance are what we want to be known for.
-The vast majority of our ships trading in the spot market are cash generative,
with robust time charter coverage providing further support.
-The tanker market has held up very well despite reduced cargoes
and weaker refining margins.
-Our fleet is optimally positioned to capture market strength, and our
consistent operational outperformance ensures best in class financial results.