What can GRR do with its excess cash, page-36

I didn’t mind the idea and most companies are doing it, look at the massive valemax ships.
Maybe if they did a jv with shagang for the ships would be a better idea? Less capital, and beneficial for both parties.
I still think they should buyback what shares they can without pushing shagang over the edge with a forced takeover... what better investment is there on the market than GRR itself right now?
6 months ago would’ve be good when they were cheaper.
Buybacks show confidence in the business, increasing EPS and higher dividends.
Can GRR buy shares back off shagang lowering their stake and take those shares off the market??