The debate over corporate-governance standards for public shipowners is sometimes viewed as the province of policy nerds, with some questioning just how much investors are actually engaged.

But there is a very prominent real-world example of governance gaining traction in the high-profile takeover dance of tanker owners Frontline and DHT Holdings.

And with Wells Fargo analyst Michael Webber issuing updated scores this week, there is fresh ammunition for the verbal sparring between the two camps (see story, page 30).