Taylor Maritime Investments Limited Trading Update (0642C)
18 Febrero 2022 - 1:00AM
UK Regulatory
TIDMTMIP TIDMTMI
RNS Number : 0642C
Taylor Maritime Investments Limited
18 February 2022
18 February 2022
Taylor Maritime Investments Limited (the "Company")
Trading Update
Four ships fixed on new time charters, each at a yield in excess
of 30%:
One vessel fixed on one year time charter
Three vessels on short-term charters
Taylor Maritime Investments Limited (TMI / TMIP), the specialist
dry bulk shipping company, announces that one vessel in the fleet
has been fixed on a one-year time charter and three vessels have
been fixed on short-term time charters of less than 3 months. Each
of the four time charters delivers an average annualized unlevered
gross cash yield of over 30% based on December 2021 fair market
values.
TMI's total delivered fleet is now 31 vessels (including one
ship committed for sale).
Edward Buttery, Chief Executive Officer, commented:
"As anticipated, sentiment is improving with the market
rebounding post Chinese New Year after a pick-up in dry bulk
activity. As such, we're happy with this mix of a longer one-year
time charter and three short-term charters, consistent with our
strategy of increasing earnings visibility and extracting
attractive yields from the market. We will continue to consider
longer-term charters for charter renewals as the year progresses
and the market strengthens further."
ENDS
For further information, please contact:
Taylor Maritime Investments Limited IR@tminvestments.com
Edward Buttery
Alexander Slee
Jefferies International Limited
Investment Banking
Stuart Klein
Gaudi Le Roux
Sector coverage
Doug Mavrinac
Hugh Eden +44 20 7029 8000
Montfort Communications TMI@montfort.london
Nick Bastin
Alison Allfrey
Notes to editors
About the Company
Taylor Maritime Investments Limited is a recently established,
internally managed investment company listed on the Premium Segment
of the Official List and traded on the Main Market of the London
Stock Exchange. The Company invests in a diversified portfolio of
vessels which are primarily second-hand and which, historically,
have demonstrated average yields in excess of the Company's target
dividend yield of 7% p.a. (on the Initial Issue Price).
The Company's initial investments comprise Geared Ships
(Handysize and Supramax types) employed utilising a variety of
employment/Charter strategies.
The Company intends to pay dividends on a quarterly basis with
dividends declared in January, April, July and October. The Company
declared its first dividend of 1.75 cents per Ordinary Share for
the initial period ended 30 September 2021 in October 2021. The
Company targets a Total NAV Return of 10 to 12% p.a. (net of
expenses and fees but excluding any tax payable by Shareholders)
over the medium to long-term.
The Company has the benefit of an experienced Executive Team led
by Edward Buttery. The Executive Team have to date worked closely
together for the Commercial Manager, Taylor Maritime. Established
in 2014, Taylor Maritime is a privately owned ship-owning and
management business with a seasoned team that includes the founders
of dry bulk shipping company Pacific Basin Shipping (listed in Hong
Kong 2343.HK) and gas shipping company BW Epic Kosan (formerly Epic
Shipping) (listed in Oslo BWEK:NO). Taylor Maritime's team of
experienced industry professionals are based in Hong Kong and
London.
For more information, please visit
www.taylormaritimeinvestments.com .
About Geared Vessels
The Company specializes in the acquisition and chartering of
vessels in the Handysize and Supramax bulk carrier segments of the
global shipping sector. Geared vessels are characterised by their
own loading equipment. The Handysize market segment is particularly
attractive, given the flexibility, versatility and port
accessibility of these vessels which carry necessity goods -
principally food and products related to infrastructure building -
ensuring broad diversification of fleet activity.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTEAEAXFALAEAA
(END) Dow Jones Newswires
February 18, 2022 02:00 ET (07:00 GMT)
Taylor Maritime Investme... (LSE:TMI)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Taylor Maritime Investme... (LSE:TMI)
Gráfica de Acción Histórica
De May 2023 a May 2024