And thirdly, the modern compliant normal VSCs as we own will then be 100%. And if you do that exercise, you would even see how the fleet growth is — or rather the fleet is not growing anymore and it’s actually the capacity to freight oil globally is being reduced as we go forward. On the Dark fleet, the ones trading listed barrels, I don’t think that fleet is growing as much as it did for the last couple of years that is obviously good. The fact that it’s also, Gary, it is growing bolder and these are ships that are not being properly maintained. So we’re probably getting closer to an environmental disaster at some point here.
Greg Lewis: Okay. Well, hi, thank you very much for the time and have a great rest of the day.
Lars Barstad: Thank you.
Operator: Thank you. Dear Mr. Jon Chappell from Evercore. I’m going to open the next line. And the question comes from the line of Jon Chappell from Evercore. Your line is open, please ask your questions.
Jon Chappell: Thank you. Sorry, I don’t know what happened there.
Lars Barstad: We lost you.
Jon Chappell: Yes, it’s probably my fault. Just to revisit that topic again. And I’m sorry. I know it’s only $0.07 a share. But I just wanted to know, with the depreciation going up so much, it’s going to have an impact on earnings. So Frontline has historically been a dividend payer based off of net income. I was just wondering if that may shift to from free cash flow given the fact that the depreciations changing by so much.
Inger Klemp: Now, going back to why we have done this, Jon. I mean what we have done in a way is to just re-assess the useful life of our vessels and we believe in a way that 20 years is a more realistic estimate of useful lives than 25 years, so that is why we have done this change. And if you look at many of our peers, they already have 20 years. So this is not only us, in a way, it’s a kind of common thing. And what I’ve said with respect to numbering, if you just divide it by four quarters, you obviously get to that you the number you are using a payout policy of 80% would be about $0.05 per share. So that’s what you’re talking about.
Jon Chappell: Okay. Thank you. And then you paid down $60 million of the Hammond facility. I think there is some use of proceeds from those vessels sales. With the cash that you’re generating illustratively based off of this year, do you foresee a more aggressive pay down of debt and especially that have a facility just with cash from operations or do you think you need to sell more older tonnage to kind of accelerate that deleveraging?
Inger Klemp: So we have not made any specific plans of the — for the repayment of the Hemen facility or the Sterna facility, which is actually it’s called. It matures in May 2024 and that’s it in a way so, no.
Jon Chappell: Okay. Well, thanks for letting me back in. Have a great day, guys.
Lars Barstad: Thank you.
Operator: Thank you. Now we’re going to take our next question. And the next question comes from the line of Amit Mehrotra from Deutsche Bank. Your line is open. Please ask your question.
Chris Robertson: Hi, this is Chris Robertson, again, I’m just going to try to sneak in one last question here, it relates to Chinese demand. So there’s been impressive demand recovery so far. I guess how much further do you think this can go, just based on post-COVID recovery? And then in the coming years with the new refinery additions that are being added, where do you think that overall Chinese import demand can shake out over the coming 12 months.
