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Even Kolsgaard

Research Analyst at Clarksons Securities

Even Kolsgaard is an Analyst at Clarksons Securities AS, specializing in shipping and maritime sector research with a focus on dry bulk, tankers, and offshore companies. He covers specific companies including 2020 Bulkers, BW LPG, Capital Clean Energy Carriers, Genco Shipping, Global Ship Lease, Golar LNG, Navigator Holdings, and Star Bulk Carriers, issuing ratings such as Buy on BW LPG (target 150.00 as of December 2025) and Neutral on 2020 Bulkers (target 148.00 as of November 2025). Kolsgaard joined Clarksons Securities in 2021 with no prior firms detailed in available records. Professional credentials are not specified in public sources.

Even Kolsgaard's questions to Okeanis Eco Tankers (ECO) leadership

Question · Q4 2025

Even Kolsgaard with Clarksons Securities asked about the future outlook for the VLCC versus Suezmax market, considering recent VLCC outperformance, and whether Okeanis Eco Tankers has been tempted to sell ships to Sinokor.

Answer

Aristidis Alafouzos, CEO of Okeanis Eco Tankers, explained that Suezmaxes still show relative outperformance on a dollar-per-metric-ton basis and are attractive assets that will benefit from VLCC market tightening. He also stated that the company is not seriously considering selling vessels to Sinokor at this time, preferring to maintain spot market exposure due to significant expected upside.

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Question · Q4 2025

Even Kolsgaard asked about the relative performance and outlook for the VLCC market versus Suezmaxes, specifically regarding earnings and asset values, and if management was tempted to sell ships to Sinokor given their consolidation efforts.

Answer

CEO Aristidis Alafouzos explained that Suezmaxes still outperform VLCCs on a dollar-per-metric-ton basis, making them attractive assets, and that VLCC strength would benefit Suezmaxes through versatile trading opportunities. He also stated that Okeanis is not currently considering selling vessels to Sinokor, believing there is significant upside remaining in the spot market.

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