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Share Name Share Symbol Market Type Share ISIN Share Description
Tufton Oceanic Assets Limited LSE:SHIP London Ordinary Share GG00BDFC1649 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.005 0.47% 1.06 1.05 1.07 1.06 1.025 1.06 119,476 08:19:54
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.4 -1.2 -0.5 - 286

Tufton Oceanic Assets Share Discussion Threads

Showing 676 to 699 of 700 messages
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DateSubjectAuthorDiscuss
22/4/2021
07:11
Tufton Oceanic Assets announces that as at 31 March 2021, the unaudited net asset value ("NAV") was $284.44 million and the unaudited NAV per ordinary share was $1.053. The NAV total return for the quarter was 9.1%. The Company is pleased to announce a dividend of $0.01875 per ordinary share for the quarter ending 31 March 2021. The dividend will be paid on 14 May 2021 to holders of ordinary shares recorded on the register as at close of business on 30 April 2021 with an ex-dividend date of 29 April 2021. The Company continues to target a total annual dividend of $0.075 per share and is forecast to have a dividend cover of c.1.7x over the next 18 months and an average expected charter length of c.2.5 years (EBITDA weighted). The Company's quarterly factsheet as at 31 March 2021 will shortly be available on the Company's website in the Investor Relations section under Company Documents at www.tuftonoceanicassets.com/quarterly-reports .
jonwig
13/4/2021
14:50
@marktime1231-Bear in mind that AJB will take 1.5% off of your dividends as a currency conversion fee as they don't let you hold the dividends in USD.
apollocreed1
12/4/2021
21:35
Thank you very helpful. I would hope that a sheltered stake in a SIPP would be registered by AJB as tax exempt to receive dividends gross. Tempted to dip in with a small stake and see how it goes, the yield is about twice as much as I am getting from my commodity income trust.
marktime1231
12/4/2021
20:31
marktime - If there's a "commodity supercycle" starting, demand will stay strong for some years; otherwise it's going to be pretty cyclical. Tax - "The Company has been granted exemption from liability to income tax in Guernsey under the Income Tax (Exempt Bodies) (Guernsey) Ordinance, 1989 amended by the Director of Income Tax in Guernsey for the current period. Exemption is applied and granted annually and subject to the payment of a fee, currently £1,200." Divis and earnings are presented in USD because their income is received in USD. Your divis are taxed as overseas income if you're UK-based. My broker (II) pays divis in USD and I keep a USD account with them.
jonwig
12/4/2021
20:18
Watching SHIP for a while attracted by the positive well-funded narrative and the high yield. Is this an enduring good business or a temporary bubble of demand for certain classes of shipping? I wonder what the downside looks like, too risky to be in my pension portfolio? This is a UK based (and taxed?) company but registered in Guernsey or IoM, priced in dollars ... so er is the dividend recalculated in pence and paid gross of any witholding taxes?
marktime1231
22/3/2021
18:00
have a few of these and added this morning. see them as steady.
bisiboy
22/3/2021
08:23
Interims; https://www.investegate.co.uk/tufton-oceanic-asset--ship-/rns/interim-results-for-period-ended-31-december-2020/202103220700069369S/ Robust performanc, and strong outlook: At the end of the financial period, the Company had increased charter cover to c. 2.8 years and strong forecast dividend cover of c.1.5x over the next 12-18 months. I am encouraged by the Company's performance over the financial period and believe the strategy of diversification, strong charter cover and low leverage will enable the Company to grow profitably in the coming years.
jonwig
02/3/2021
17:14
Interims due 22nd March.
gilston
07/8/2020
12:19
The three trades today (0.84188) are all buys despite ADVFN's rickety algorithm.
jonwig
06/8/2020
16:21
@Valhamos - I think you're right. I just need to get hold of some dollars to buy this. I usually convert them in Revolut cost free and then send them to the broker II to buy.
apollocreed1
06/8/2020
09:53
Not sure why this has started to fall again in the last few weeks; presumably neither can the company hence today's small share buyback. Recovering demand and falling supply of new shipping capacity has to lead to improved NAV in the future; currently yielding 8.2%
valhamos
28/2/2020
00:56
This has held up surprisingly well in the plunging market. Very few "alternative investment trusts" have held their value, and shipping stocks like Maersk, Carnival etc have been the worst performers.
apollocreed1
11/9/2019
13:56
Another placing under the programme. Things I would rather invest into mind you.
markyjacob123
08/3/2019
17:31
Ah - good skill and good luck!
jonwig
08/3/2019
16:48
Shipping's a chancers game - that's why I'm in it :)
roman2325
08/3/2019
16:35
No, and won't be. I think I'd leave this to the professionals who know the market - you've given me enough reasons to pass it by. Also trading is thin to non-existent: easy to get caught out by sellers close to the action.
jonwig
08/3/2019
16:31
What are your thoughts Jonwig? Are you in this?
roman2325
08/3/2019
14:13
roman - standard legal disclaimer found on all company documents. Covers them if their ships are sunk by death rays from planet Zog, etc.
jonwig
08/3/2019
13:56
So in the last announcement the company said: "The Company's capital resources are now fully committed. This investment will increase the Company's operating cash flow post fees and post capex to a level that will cover the Company's stated 7% target dividend* by over 1.7x. It will also increase the Company's average charter length." The company 2 seconds later said: *This is a target only and not a profit forecast. There can be no assurance that the target can or will be met and should not be taken as an indication of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on this target in deciding whether or not to invest in the Company or assume that the Company will make any distributions at all and should decide for themselves whether or not the target dividend yield is reasonable or achievable. The target dividend yield is based on the IPO issue price of US$1.00 per ordinary share. Pleasing to see they read this Bulletin Board ;)
roman2325
06/3/2019
13:08
People are protected through not being able to buy it. I have multiple nominee accounts and I don't think any carry it.
hpcg
25/2/2019
10:14
You make money in shipping buying and selling vessels - the industry was flooded post crisis with funds thinking they would buy at the bottom and sell at the top - the same players are STILL ordering more ships thinking its STILL at the bottom and waiting for a recovery - you have everyone on the same side of the trade flooding the market with supply - if no one is willing to take a loss then the market will never go up! Its shocking this fund came to market - its absolute robbery. Reckoning it will increase 12% a year, pay out 7% or whatnot, its absolutely impossible to predict figures like that moving forward. Like trying to predict the weather in 2020 - should be warning signs all over this
roman2325
25/2/2019
10:08
Morning Jonwig - here's an article from a Journal out this morning: BDI’s decline second worst ever FEBRUARY 25TH, 2019 Sam Chambers SAM CHAMBERS DRY CARGO 0 COMMENTS The decline in the Baltic Dry Index (BDI) this year is the worst on record, with the exception of the calamitous drop in the wake of the collapse of Lehman Brothers 11 years ago, according to data from Alphabulk, part of AXS Marine. Alphabulk analysed the severity of the drop via percentage changes in the BDI over five- and 10-day periods as well as looking at volatility within the index. Using the three-month trailing annualised standard deviation of daily returns of the BDI shows that excluding the first half of 2009, the volatility experienced at the end of January is the highest ever recorded, recently going higher than 60%. The Vale dam disaster and Chinese new year have regularly been cited as key reasons for the fall, but Alphabulk believes there are more fundamental at issues at play. Meanwhile, Drewry Maritime Financial Research has issued a new dry bulk report in which it notes that five of the dry bulk shipping stocks under its coverage delivered a negative return of 24.4% in 2018. Moreover, the dry bulk shipping stocks under Drewry’s coverage are down 13.2% since the start of 2019. Cleaves Securities’s latest weekly report shows that there has been no respite for capesize owners in the past seven days. Cape spot rates have fallen below opex and to the lowest levels in more than two years, Cleaves noted. Splash has seen spot rates for as low as $3,000 a day being banded around. Ending on a hopeful note, Cleaves concluded: “We still believe that the current weakness represents the intra-year low for 2019, and forecast dry bulk spot rates to average 140% higher in 2Q19.” The BDI closed on Friday at 634 points, having slid to below 600 points earlier in the month.
roman2325
21/2/2019
10:44
roman - I left it alone because I don't understand the market. The BDI is signalling bad news, I suppose that's relevant. Maybe everything has its price, and if they can pick up ships dumped at a low price and wait on the next upswing? Not for me, certainly!
jonwig
07/2/2018
00:07
Focusing upon an interesting niche market with potentially an excellent yield ! Earn a steady income from ships Just before Christmas a Guernsey-based fund called Tufton Oceanic Assets (LSE: SHIP) launched on the London Stock Exchange, marking a real first for London – a chance for investors to make an income by renting out ships. Investors have long been able to invest in shipping giants such as Maersk or Hapag-Lloyd. But these are cyclical trading businesses, rather than ones focused on producing a steady dividend stream. In the UK, it has been possible to invest in a few small ship-owning companies under the Enterprise Investment Scheme (EIS), but there were no shipping investment trusts. This is a pity, because there’s much to like about the market. Like aeroplanes, ships produce a steady stream of rental or lease payments, and the market in shipping rentals is huge and very liquid, with many reliable, creditworthy customers. On the downside, its cyclical nature means the market is prone to bouts of oversupply, with prices collapsing as a result – as they did for the Baltic Dry index (which charts the cost of transporting raw materials) after 2008. But unlike many other asset-backed markets, grabbing hold of delinquent assets in a slump isn’t hard – repossessions have been going on for hundreds of years, and there is a very liquid market in new rentals for the ship owner. And as with any cyclical market, there’s always the potential for an upturn – indeed, we may be seeing one right now. The Baltic Dry has risen by around 60% over the past five years. The global economy is humming, helped by a strong US and China. Cargo rates have stabilised, and shipyards are relatively less busy – the global order book for new ships is at a 20-year low, and shipyard capacity has shrunk by 16% since 2012. An established player Tufton is an established player in the second-hand ship market, managing around $1.5bn across a variety of funds. It tends to target product tankers, bulk-cargo ships and smaller container ships. The vessels themselves might be anything from five- to 20-years old, trading at between 30% and 70% of their new value, while customers charter them for between two and ten years. As with aeroplanes, sale-and-leaseback deals are common – a big operator sells their new ship to a funding vehicle such as Tufton, then leases it from them. This leaves the finance outfit to deal with the hassle of the final residual value, or resale value. This is where the real profits are made – by buying second-hand ships cheaply, and making sure the residual value is as high as possible. Tufton maintains that now is the right time to buy. Certain types of ship are still quite cheap to buy, but rental rates are rising alongside the economy. This upturn isn’t being swamped (yet) by a sudden spike in new ship construction. Tufton reckons it can pay out 7% per year (5% in the first year), with an overall internal rate of return (a measure of project profitability) – including capital gains – of 12%. Tufton’s existing institutional fund has made a total return of 12.5% since 2015. The risks are clear (which is why the fund is floated on the specialist market, aimed at institutions and sophisticated investors). Shipping is cyclical and, in a downturn, residual values could plunge, and rental yields dry up. The fund is also dollar-denominated, which introduces currency risk. Yet as part of a diversified portfolio, this is an excellent source of alternative income, with real asset backing and steady income streams. https://moneyweek.com/earn-a-steady-income-from-ships/
masurenguy
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