Our strategy is to acquire vessels, primarily second-hand, at attractive valuations below long-term average prices or depreciated replacement cost.
Working with our commercial manager, we lease our vessels out to charterers on time charter at a fixed “per day” rate creating predictable cashflows. We have close, longstanding relationships with blue chip customers, including leading global commodity houses who value our high quality and well run ships.
This enables us to deliver an annual dividend yield of 7 per cent (on our IPO price), with the potential for further growth over the long term. Over the medium to long term, we are targeting a Total Net NAV Return of 10 to 12 per cent per annum.