Menu Close

Taylor Maritime Investments Secures New Charters for Five Vessels

This post was originally published on this site

By Anthony O. Goriainoff

Taylor Maritime Investments Ltd. said Friday that it has secured new charters for five vessels.

The specialist dry bulk-shipping investment company said it secured two- and three-year charters on three new vessels, and that these will deliver average annualized unlevered gross cash yields of more than 20%.

It said it has secured seven-month charters on two vessels delivering average annualized unlevered gross cash yields of more than 50%

The London-listed company said it expects to take delivery of six vessels before the end of November, and a further four by January–taking the fleet to 32 vessels–and that these will continue to expand the fleet’s earning power.

“We have not only managed to secure attractive charter rates for our vessels but locked in significantly longer durations for three of them, reflecting the strength of the market. This provides us with greater visibility and certainty of cashflows, while enabling us to deploy other vessels in the fleet on a more opportunistic basis, benefiting from ongoing strong market demand,” Chief Executive Edward Buttery said.

Shares at 0713 GMT were up 0.50 pence, or 0.5%, at 96.50 pence.

Write to Anthony O. Goriainoff at