FD reports that former Fairstar CEO Adkins and former CFO Sarvaas have set up a company called Red Box Energy Services (RBE: the name of their strategy while at Fairstar), which aims to be active in what the newspaper calls 'freight transport across sea'. This sounds different than the offshore transport services that Dockwise is active in, but that could be a matter of interpretation so we do not rule out that Adkins wants to make a come-back in offshore transport. Sarvaas is reported to have said that the company is in a very early stage of development. Other than that, he and Adkins refrain from commenting on their intentions. Short term no risk. Mid term, things could heat up again: Will Adkins enter the market again? It looks like he wants to so there could be some risk mid term, should he start ordering vessels. Short term, no impact on the investment case.