Large state-owned oil companies — in particular, Saudi Aramco’s shipowning arm Bahri — are fishing around the sale-and-purchase market, DHT Holdings’ Svein Moxnes Harfjeld said.

The chief executive of the New York-listed VLCC specialist said during the company’s conference call on Wednesday that state-backed companies are looking for modern secondhand tonnage.

“I think that’s an encouraging sign,” Moxnes Harfjeld said.