I have had concerns about VLCCF since last year. I sold my shares in December at a considerable loss and have not repurchased them. At the present, I have no plans to. VLCCF's financial condition is stable, in that they will be able to continue operations. However, their prospects for continuing the dividend, cut already, are not good. Tanker rates have recently improved, but because of the contracts in place, there isn't much upside until the new contracts are let. Lower oil prices may help demand for oil, but that doesn't necessarily translate into better numbers either.
My opinion is that the dividend is still at risk of further cuts. Prices have been relentlessly down and if you look at the chart, the steepness of the decline shows a great deal of downward momentum. You'll have time to buy later after some clarity appears on the new contract rates.