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Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Says five vessels in fleet have been fixed on time charters for an average of 11 to 13 months, for average annualised unlevered gross cash yield over 30%. This is based on fair market values, and increased from an average annualised unlevered gross cash yield of over 24% for the fleet as of March 31.
"During the Chinese New Year period, a time of typical seasonal weakness, we deliberately fixed a portion of the fleet on short-term charters as we anticipated a strengthening market in the lead up to the summer. This approach has now allowed us the flexibility to capture longer-term charters for five vessels at attractive yields for an average duration of approximately one year each to high-quality charterers and is part of our strategy to secure more cover on an increasing proportion of our fleet this summer and beyond," Chief Executive Officer Edward Buttery says.
Current stock price: USD1.46
12-month change: up 37%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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