The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
C&J ENERGY SVCS INC NEW COM 12674R100 2,155 71,898 SH   SOLE   71,898 0 0
CAPITAL PRODUCT PARTNERS L P COM UNIT LP Y11082107 3,850 1,100,000 SH   SOLE   1,100,000 0 0
DHT HOLDINGS INC DEBT 4.500%10/0 23335SAB2 10,565 10,712,000 PRN   SOLE   0 0 0
DORIAN LPG LTD SHS USD Y2106R110 5,473 802,547 SH   SOLE   802,547 0 0
EAGLE BULK SHIPPING INC SHS NEW Y2187A143 4,657 1,028,045 SH   SOLE   1,028,045 0 0
EURONAV NV ANTWERPEN SHS B38564108 5,192 641,000 SH   SOLE   641,000 0 0
FRONTLINE LTD SHS NEW G3682E192 8,319 172,852 SH   SOLE   172,852 0 0
GASLOG LTD SHS G37585109 2,614 149,799 SH   SOLE   149,799 0 0
GENER8 MARITIME INC COM Y26889108 7,514 1,666,076 SH   SOLE   1,666,076 0 0
GOLAR LNG LTD BERMUDA SHS G9456A100 5,885 260,294 SH   SOLE   260,294 0 0
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 16,087 867,211 SH   SOLE   867,211 0 0
INDEPENDENCE CONTRACT DRIL I COM 453415309 2,296 604,132 SH   SOLE   604,132 0 0
KEY ENERGY SVCS INC DEL COM 49309J103 386 29,324 SH   SOLE   29,324 0 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 5,858 527,703 SH   SOLE   527,703 0 0
PATTERSON UTI ENERGY INC COM 703481101 7,597 362,775 SH   SOLE   362,775 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 9,185 714,750 SH   SOLE   714,750 0 0
SCORPIO BULKERS INC COM Y7546A122 6,263 888,396 SH   SOLE   888,396 0 0
SCORPIO TANKERS INC SHS Y7542C106 16,097 4,693,111 SH   SOLE   4,693,111 0 0
STAR BULK CARRIERS CORP SHS PAR Y8162K204 6,994 720,283 SH   SOLE   720,283 0 0
TEEKAY LNG PARTNERS L P PRTNRSP UNITS Y8564M105 10,345 581,200 SH   SOLE   581,200 0 0