Member Info for tichtich

Update. I decided to switch some $$$ from SHIP back into INSW, a specialist tanker company, even though that meant paying a higher price for those shares than I previously sold at. I think INSW is in a better position to take advantage of the chaos in the crude tanker market caused by recent geopolitical events. (SHIP owns only product tankers, not crude.)

I still have 10% of my portfolio in SHPP/SHIP. Dividend yield is 8.5%, 1.6x covered, and I'm hoping we will see an improvement in cover and NAV when the next quarterly update comes out. Shipping is notoriously volatile, but I'm hoping that a year or two of good times will set us up well for future leaner times.

I don't think they've said anything about what they will actually use this money for. As far as I can see, they are just taking some money which could only be used for restricted purposes and freeing it up to be used for any future purpose they decide on. They also don't say how much money is involved. Perhaps this is just the equivalent of finding 10p down the back of the sofa. 😉

"Arrived in Arizona on holiday over the weekend"

Sounds good. I just hope the last stop on your trip isn't at an ICE detention facility. 😉

But licker, Trump already "obliterated" Iran's nuclear programme last year. That's what he claimed, and he hasn't said he was wrong.

The only time I can remember Trump ever admitting a mistake was when he said he never should have left the White House (after losing the 2020 election).

Investing is a funny game. A couple of days ago I was wishing I'd bought more at the low point. Now I'm wishing I'd sold at the high point. I suppose I'll just stick to the advice I read a while ago: most of the time the best change you can make to your portfolio is no change.

It seems like a double whammy today, with bad news about Sasa combined with sentiment turning more negative on copper: https://www.proactiveinvestors.co.uk/companies/news/1088207/ftse-100-miners-fall-as-record-chinese-copper-output-swells-stockpiles-1088207.html

I think the name of Trump's organisation speaks for itself: Trump's Bored of Peace.

P.S. I didn't pay attention to the fact that you said it was still trading on the main market. That's strange. I have no idea!

Thanks for pointing this out. I hadn't seen it, as the RNS hasn't appeared on this website yet.

I have no idea what's going on. Maybe they were afraid that some inside information had leaked (or might leak) in advance of an announcement. I expect we'll find out soon.

Nothing much new, as far as I can see. The NAV was already updated recently. Next NAV update isn't due until late April.

Yes!! My CAML shares have been underwater (on share price only, not counting dividends) since I bought them 3 years ago. They just went into the green today. 😁

US shipping stocks continue to rocket higher. Unfortunately I sold mine too soon. But I've put those $$$ into SHIP instead. SHIP/SHPP is now my second largest position.

I suspect we will see an upward re-rating of property prices and NAVs in future reports. Maybe the market expects a larger re-rating for LMP than other REITs, perhaps because of its acquisition. Anyway, I think I'll stick with LMP for the long term. I already have spare cash to deploy it I find something else I want to buy.

RGL doesn't appeal to me. I have no idea what the future holds for regional offices. What I did buy last week was the shipping trust SHIP/SHPP (same trust, in USD or GBP). Shipping rates have taken off, and US shipping stocks are up a lot over the last 3 months, but SHIP has hardly moved. I think it's got some catching up to do, but if it doesn't re-rate I'm OK with holding it long term for dividends.

The risk is not so much that existing subsidies and CFDs will be messed with (though that's possible, as we've just seen with the switch from RPI to CPI). As far as I'm concerned, the bigger risk lies with the pricing of renewable electricity in the marketplace, which is expected to make up about half of UKW's future revenue (by NPV). This is not a free market. It's a market that's based on a formula set by the government, and the government can change that formula. Currently the formula is that the price is set by the marginal unit, which is from gas. Not long ago there was a real possibility that the government would switch to zonal pricing, which would very likely have been to the disadvantage of wind power. This government chose not to make that change, but I have absolutely no doubt that a Reform government (God forbid) would change the electricity pricing system to the disadvantage of wind.

Welcome to the board, LadyIshkah. Well done for getting in at this price. I must say I'm feeling tempted to add some more at this price, but I'm going to wait and see. We seem to have some downward momentum at the moment!

Thanks for the link, 2phev. I've bookmarked it.

It looks like, if UKW was locking in electricity prices this week out to 2030, it would get an average price over £60/MWhr. UKW's last 5 year projection of dividend cover showed cover from 1.8x to 2.1x in their "base case" for price, which seems to be £60/MWhr. Let's hope they've been locking in prices at these levels or better.

As a dividend investor, the current forward dividend yield of about 4% is rather low for my taste. But this is a relatively small position for me, and it's good to have a few more growthy stocks. Plus this is my only mining stock. So I'm going to stay here for the long haul, and follow wherever this interesting story leads. 😉

Hi. I've just taken a good sized position here. (I previously held some SHIP, the USD equivalent of SHPP.)

I've been invested in some US shipping stocks which are up about 30% over the last 2-3 months. But SHPP has hardly risen in that time, so I'm hoping it's got some catching up to do. Shipping rates for tankers and dry bulk are doing very well. That said, SHPP might not benefit from the higher rates until some of its current charters expire. Let's hope the party isn't already over by then.

This article suggests that the good times for dry bulk are set to continue:

https://seekingalpha.com/article/4870993-the-dry-bulk-bull-market-is-just-warming-up

I think tanker rates have been benefitting from the current glut of oil on the market (not so good for climate change). There are also various geopolitical events which are probably contributing (or soon will), such as India taking less Russian oil and the increasingly firm actions taken against the"shadow fleet" transporting Russian oil.

Hang on, 2phevs, the switch from RPI to CPI doesn't start until 1st April. Until then, the lower RPI is against us. I'm not laughing yet!

To be clear, if I didn't already own any UKW I would probably be buying some at this price. It might turn out to be a very good long-term buy at this price, if all goes well. It might still be a pretty good long-term buy at the prices I originally paid. But, given the risks, I want to limit my exposure. In fact I halved my (large) position over a year ago (selling at 117p). I'm slightly tempted to add some of those back now.

I wouldn't be surprised if we see some bump in the shares price soon. There seems to be a rotation from tech into defensive stocks and bonds. (The 10 year gilt yield has fallen a lot in the last week or two.) And one good NAV update could create some more positive sentiment. On the other hand, we might be heading towards a general market correction. And even in the best case I can't see a big upward rerating in the near future, because the political risks are not going away.

Just my 2.1p worth (allowing for inflation).