Coverage — how each company is modelled

Every company below is modelled the same way: estimate what the fleet earns per vessel-day next quarter, then derive what it can pay out. What differs is the evidence available for each — some issuers publish their charter coverage, some publish a payout policy, some publish neither. This table says which, per company. It is generated from the model's own inputs at build time, so it cannot drift from what the model actually does.

Reading this table

Dividend     how often it pays, and whether the payout rule is the issuer's
             own stated policy or a pattern inferred from what it has paid
Rate inputs  what prices the fleet, best evidence first:
               issuer guidance     the company published its coverage and rate
               FFA forward curve   forward freight quotes
               Xeneta lane rates   container spot lanes (liners)
               Baltic route basket pooled tanker route prints
               dry FFA / capesize  dry-bulk forward and index prints
               issuer disclosure only  no external index for this sector yet

Where a company shows issuer disclosure only, that is not an omission — offshore and gas have no external index wired into the model's pricing yet (their dashboards chart public fixture dayrates as context only), so those fleets are priced from company guidance or not at all. A company with no guidance renders — rather than a proxy.

72 companies — 40 publish a forward dividend, 11 pay none by their own account

Stage is the furthest step of the modelling chain the company reaches (corpus → fleet → vessel-days → costs → rate → payout → DPS). A dark company names the first step it lacks; a publisher shows what its dividend is built from above. Counts come from the model's own inputs at build time.

How each company in the coverage universe is modelled, and where it sits on the chain.
Company	Sector	Stage	Dividend	Rate inputs
ALNG.OL	Gas	dark — payout behaviour	Quarterly · payout pattern from its own history	issuer disclosure only
ASC	Product tankers	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + Baltic route basket
BORR	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
BRUT.OL	Crude tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
BWLPG.OL	Gas	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance
CAPT.OL	Product tankers	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + Baltic route basket
CCEC	Gas	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
CMBTO.OL	Crude tankers	dark — cost stack / debt service	Quarterly · payout pattern from its own history	Baltic route basket
CMDB	Dry bulk	dark — payout behaviour	Quarterly · payout pattern from its own history	dry FFA / capesize index
COSH	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
DAC	Container	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance
DDT	Offshore	dark — payout behaviour	Quarterly · payout pattern from its own history	issuer disclosure only
DHT	Crude tankers	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + Baltic route basket
DIS.MI	Product tankers	dark — forward DPS	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
DOFG.OL	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
DSX	Dry bulk	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + dry FFA / capesize index
EDRY	Dry bulk	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + dry FFA / capesize index
EIOF.OL	Offshore	dark — forward DPS	Quarterly · payout pattern from its own history	issuer disclosure only
ERAG.DE	Container	dark — cost stack / debt service	Quarterly · payout pattern from its own history	issuer disclosure only
ESEA	Container	dark — a fleet rate	Quarterly · payout pattern from its own history	issuer guidance
EXM.BR	Gas	dark — fleet composition	Quarterly · payout pattern from its own history	issuer disclosure only
FLNG	Gas	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
FRO.OL	Crude tankers	DPS publishes	Quarterly · stated policy — full adjusted profit	issuer guidance + Baltic route basket
GEOS.OL	Offshore	dark — cost stack / debt service	Quarterly · payout pattern from its own history	issuer disclosure only
GLNG	Gas	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
GNK	Dry bulk	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + dry FFA / capesize index
GSL	Container	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance
HAFNI.OL	Product tankers	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + Baltic route basket
HAUTO.OL	car-carrier	dark — forward DPS	Quarterly · payout pattern from its own history	issuer guidance
HAVI.OL	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
HKY.OL	Passenger	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
HSHP.OL	Dry bulk	DPS publishes	Monthly · stated policy — monthly variable	issuer guidance + FFA forward curve + dry FFA / capesize index
HUNT.OL	Crude tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
INSW	Crude tankers	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + Baltic route basket
IWS.OL	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
KCC.OL	Dry bulk	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + dry FFA / capesize index
LPG	Gas	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance
MPCC.OL	Container	dark — a fleet rate	Quarterly · stated policy — % of net income	issuer disclosure only
NAT	Crude tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
NMM	Dry bulk	DPS publishes	Quarterly · payout pattern from its own history	dry FFA / capesize index
NORDEN	Dry bulk	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + dry FFA / capesize index
NVGS	Gas	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
ODF.OL	chemical	dark — fleet composition	Quarterly · stated policy — % of net income	issuer disclosure only
ODL.OL	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
OET.OL	Crude tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
PANL	Dry bulk	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + dry FFA / capesize index
PARATUS	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
PLGC.OL	lessor	dark — fleet composition	Quarterly · payout pattern from its own history	issuer disclosure only
PSHG	Crude tankers	dark — cost stack / debt service	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
PXS	Product tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
RIG	Offshore	dark — payout behaviour	Quarterly · payout pattern from its own history	issuer disclosure only
SB	Dry bulk	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + dry FFA / capesize index
SBLK	Dry bulk	DPS publishes	Quarterly · stated policy — % of net income	dry FFA / capesize index
SDRL	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
SEA1.OL	Offshore	dark — forward DPS	Quarterly · payout pattern from its own history	issuer disclosure only
SFL	lessor	dark — vessel-days	Quarterly · payout pattern from its own history	issuer disclosure only
SHIP	Dry bulk	DPS publishes	Quarterly · stated policy — % of net income	issuer guidance + dry FFA / capesize index
SMHI	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
SNI.OL	chemical	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
STNG	Product tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
STST.OL	Product tankers	DPS publishes	Quarterly · payout pattern from its own history	Baltic route basket
TDW	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
TEN	Crude tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
TNK	Crude tankers	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + Baltic route basket
TRMD-A.CO	Product tankers	DPS publishes	Quarterly · stated policy — cash above a liquidity floor	Baltic route basket
USEA	Dry bulk	DPS publishes	Quarterly · payout pattern from its own history	issuer guidance + dry FFA / capesize index
VAL	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
VSSAB.ST	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
VTURA.OL	Offshore	DPS publishes	Quarterly · payout pattern from its own history	issuer disclosure only
WAWI.OL	car-carrier	dark — forward DPS	Quarterly · stated policy — % of net income	issuer disclosure only
WWI.OL	holding	dark — fleet composition	Quarterly · payout pattern from its own history	issuer disclosure only
ZIM	Container	dark — cost stack / debt service	Quarterly · payout pattern from its own history	Xeneta lane rates

Why the evidence differs

A stated policy is stronger evidence than a pattern: if a company says it distributes all adjusted profit, that is a rule it has committed to. A pattern inferred from its payout history is weaker — it describes what a company has done, not what it has promised.

The same applies to rates. Issuer guidance is the company's own statement about vessels it has already fixed; a route basket is the market's price for vessels still open. Most estimates blend the two, and the company page shows the split.

See Methodology for the arithmetic, and About for what the labels mean.