Member Info for Krustysmegma

Yes, the only issue for me is the likely 4 years until the new acquisition comes on stream. I wonder how the payments will be staged? Seems a long time to have money tied up with no revenue generation. Other than that, all looking good as you say. Roll on the next dividend declaration.

This might bring a smile to your face Warty. Our one-time resident ramper-in-chief MaidIt308 invested in MADE.com yesterday, ahead of this morning's announcement about suspension ahead of administration. Glad to see his talents have not been wasted elsewhere.

Thanks for this sam, it's all very encouraging isn't it? I do still wonder how long the Buttery's (son & father) have had designs on Grindrod, and whether TMIP has been created as a vehicle for them to acquire it? Perhaps I'm reading too much into it, but the share build-up and (planned) acquisition have happened very quickly after TMIP floated. Whatever, it's great to hear that they're planning to pay down the debt rapidly. I wouldn't be surprised to see at least one more vessel sale from the enlarged fleet to help bring the repayment date forward.
There's absolutely no doubt that these guys know the shipping industry inside out. They've bought & sold vessels well, clearly understand the market and the reasons for charter rates rising and falling (which they have responded to appropriately) and, as you say, have vessels positioned to maximise upcoming charter opportunities. I need to free up funds from somewhere to add more here myself before it goes XD next Thursday!!

although they quote the wrong ticker (VPC):
https://www.msn.com/en-gb/money/other/rishi-sunak-will-help-this-fund-s-returns-and-it-s-on-offer-at-a-bargain-price/ar-AA13qjAw?ocid=msedgntp&cvid=fd8639def73f43968e3d701d304f741c
May explain today's rise.

TMI is priced in $ & pays dividends in $. TMIP is priced in GB£ & pays dividends in GB£. So TMI has been doing better recently because of the $ strength vs the £. It's the same company though.

Another excellent quarter for TMI/TMIP, and confirmation of the US 2 cents dividend. The main point for me was that the dividend is covered 4 times over, which encourages me to think that even with the increased dividend this year there might be enough left over for another special at year-end. Certainly exciting times ahead with the Grindrod acquisition, mention already of economies of scale and highlighting again the 16% dividend TMIP has been receiving from it's Grindrod shareholding which is very encouraging. Look forward to hearing more on that front soon. Meanwhile, another dividend payment to look forward to. No movement in the SP this morning so the analysts are still asleep at the wheel. Steady as she goes!

Unfortunately I'm unable to make the conference call in the morning, be interested to get your thoughts having heard it sam.

3rd quarter & NAV updates due tomorrow. Hoping for dividend confirmation, positive outlook and solid performance again from TMIP. Not sure we'll hear anything about Grindrod integration plans yet, might still be too early for that.

sain, you don't think they should carry on doing what they're doing, but you don't think they should wind up the Trust and give us our money back either. What do you want the Board to do?

Well, according to Shares Magazine, this is the big cheese when it comes to dividend payers, so I can't really compete. Lots of double-figure payers out there currently though, for those who are prepared to take a little risk whilst retaining some diversification.

diamond... "£3/ share gross, £2.40 / share net of 20% WHT." - apologies, you are correct. The 2 - 2 1/2 year return analogy remains though.
Re risk/reward, of course, that's the basis of pricing for all shares. The markets agree with you, they don't see how coal can have a future given the drive for clean energy. In normal circumstances, I would agree with that view too, but we're not in normal circumstances. By investing here, I'm betting (it does feel like a bet here) that the company will pay me sufficient dividends to cover a valuation of £0 in 5 years time.
I'm not sure why you think I'm going to sell all my other shares to move more here. This is at the extremely speculative end of my investments, most of which are in steady dividend payers (REIT's, solar/wind/battery IT's, insurers, ciggies etc.) but I'm not averse to a little speculation if I think the cards are stacked in my favour. Hence a little punt here, and one or two others.

I hear what you're saying diamond but the thing is, at the current sp, it only has to keep going for 2 - 2 1/2 years and we'll have had all our investment back in dividends. The II's can't touch it with a bargepole because of their ESG commitments, otherwise they'd have piled in & the sp would be £30, £40, £50++ (see the yield on FTSE 100-listed IMB for another example). They've just paid an interim dividend equivalent to £3 a share, net of 20% SA withholding tax, and in a few weeks time will be announcing a final dividend widely expected to be equal to, or potentially even higher, than the first payment. This might be one occasion when something that looks too good to be true is worth a punt, IMHO.

Hopefully another 2 cents per share dividend to be announced next Thursday too. Who knows, there could be £/$ parity by the time the conversion rate is announced.

Just had a little top-up at .6485 to reduce my average. This is the lowest sp level for almost 2 years and, as nothing appears to have changed I thought it worth a dabble.

Great summary Mike, thanks for posting. I'm hoping the Grindrod deal will soon be concluded and look forward to an exciting future for the enlarged group. I still plan to add to my holding if the sp dips below £1.

Good luck with that lad, had my fingers burned many times with junior oilies so it's not for me.

Last month I bought back shares in my trading pot at £1.60 that I'd sold for £2.80, and today bought back the other half of my trading pot at £1.20. Thank goodness I ignored the doom-mongers who railed against top-slicing when the sp was many multiples of this level. Best thing I ever did. I know others took the opportunity to do the same thing and are sitting on very healthy gains, well done to all of you. Regardless of your investment strategy, I hope SAR will eventually deliver on the scientific promise and make it worth the wait. K

I'd also be interested to hear your thoughts once you've had chance to look a little closer adam. Always keen to hear other views. Apart from the IPO seed asset vessels, there have been several buys and sells which you'll need to follow through (one potential sale almost completed but was pulled at the eleventh hour as the vessel was chartered on very attractive terms).

Rumours of his or her demise I guess. Went down at 1.30 as quickly as it had risen at 12.30 when his interview started.

Not sure what's just happened but suddenly BDEV up 7.5%, PSN up 6.5%. May be linked to the large buy reported earlier here.