Taylor Maritim Share Price (TMI)

TMI Wind-Down: A Major Opportunity Missed Due to the March Timing?

​Just looking at the timeline here and wondering if this managed wind-down might go down as a massive case of missing the macro boat.

​The board locked in the realization strategy back in March, citing market volatility. But looking at the second-order effects of the geopolitical crisis that kicked off in February, didn’t they throw in the towel right as the tide was turning?

​When major global arteries choke up, asset replacement costs skyrocket and the extra transit times around Africa naturally squeeze global fleet capacity. Handysize and Supramax vessels carry necessity goods—and a systemic shortage usually means premium charter rates for anyone left holding the keys.

​Instead of winding things down and selling off assets at what might prove to be the bottom of the sentiment cycle, shouldn't a shipping fund be putting on the "shark hat" and aggressively leasing these out on the spot market to print cash during a major supply shock?

​Feels like a textbook example of corporate caution overriding a generational asset-trading opportunity. No wonder activist funds like AVI have been quietly building a 5%+ stake recently to snap up the undervalued pieces. Thoughts? Always seems cleaner to just hold the upstream oil majors where you don’t have to guess if management has the stomach for the cycle.

If trump puts tariffs on all imported goods, less will be sold in the US, so less will be transported, so shipping costs will got down.

Thanks for the explanation, candid, that makes sense.

My feelings are similar - share price is down because the charter rate and assets have been weak, but the trend is looking goo for the future.

Hi yes I am here ...I have looked at the interims..a mixed bag , on the positive side , the charter rates have gone up considerably since the half year end , so we should be in for a bumper second half year

The really bad news is that the value of the shipping fleet decreased by a huge amount , hence the size of the loss in the consolidated income statement

To answer your question , the capital costs DONT go through profit and loss they go through the Balance Sheet , if over the 6 months period though the value attributed to the size of the fleet falls ( just like if the value of your house falls ) then the reduction in value DOES go through the income statement as a loss on revaluation

Given that shipping charter rates have since increased substantially since the half year end , the value of the fleet should now increase in value , and that increase will show up as profit in the year end consolidated income statement .

I hope that makes sense

Candid

Anyone out there?

Anyone got any thoughts on the interims. I've only glanced through them - need to go back and have a deeper look. They seem to treat capital costs like normal revenue. Gets me confused. (And it doesn't take much.)