We will trade our vessels primarily in the spot market in the coming years. Our strategy is driven both by our view of a strong tanker market, as well as a desire to capture the full benefit of lower fuel oil costs afforded to us by our eco, scrubber-equipped fleet. In view of the anticipated economic downturn in the first half of 2021, we have engaged a great number of our vessels, representing about 70% of our available vessel capacity, in time charters, with this figure gradually decreasing in the second half of 2021 onwards. Our focus is thus on executing our chartering strategy and fully capturing the fuel savings we expect our fleet to generate.
We are committed to crystallizing value for our shareholders via a clear monetization strategy: selling vessels at an opportune time in the cycle and implementing a full dividend payout policy upon delivery of our newbuildings.