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 Shares Traded Last Trade
  0.00 0.0% 0.985 252,000 08:00:00
Bid Price Offer Price High Price Low Price Open Price
0.97 1.00 0.985 0.985 0.985
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.45 -1.22 -0.49 252
Last Trade Time Trade Type Trade Size Trade Price Currency
16:40:01 O 50,000 0.99 USD

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Date Time Title Posts
07/8/202011:19Tufton Oceanic Assets - Trusting in Second-hand Ships21
01/7/201414:09Shipping Stocks & the Baltic Dry Index (BDI)19
14/3/201219:39Direct-shipping nickel laterite Berong Nickel 201220
19/9/200920:06Charting Freight Rates31
11/4/200712:50Far East Silo Corp (FESSF)2

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Tufton Oceanic Assets Daily Update: Tufton Oceanic Assets Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker SHIP. The last closing price for Tufton Oceanic Assets was US$0.99.
Tufton Oceanic Assets Limited has a 4 week average price of US$0.93 and a 12 week average price of US$0.89.
The 1 year high share price is US$1.08 while the 1 year low share price is currently US$0.75.
There are currently 255,337,638 shares in issue and the average daily traded volume is 100,861 shares. The market capitalisation of Tufton Oceanic Assets Limited is £251,507,573.43.
valhamos: 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%
roman2325: 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 ;)
jonwig: 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!
masurenguy: 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.
jonwig: Citywire comment on SHIP: Http:// Could be interesting, when I have some free USD.
lord gnome: !FOLLOWFEED Quote (Investors' Chronicle, 29 Dec 2017): Tufton Oceanic Assets (SHIP) has raised $91m, slightly lower than its $100m target, and began trading on the Specialist Fund Segment of the London Stock Exchange on 20 December. The trust is targeting a 12 per cent a year NAV return with a cash distribution of 5 per cent in its first year and 7 per cent thereafter. It will invest in second-hand commercial sea-going vessels spread across the core segments of shipping. "There is currently an attractive opportunity in shipping to buy assets at a significant discount to their depreciated replacement cost and lock in long-term employment producing mid-teen cash yields," says Andrew Hampson, head of asset-backed investments at the trust's manager, Tufton Oceanic. "This is a strategy we've been following with success for the past couple of years and see limited competition due to the lack of capital currently being invested in shipping." Tufton Oceanic has invested over $1bn in shipping assets over the past few years. Company web site: hxxp://
mart: Got you. Just checked SHIP/SHPP. Must admit I hadn't thought about using either of them. IF there is a global recovery (I notice a slight upward flex in the BDI at the moment) there are mamy better (and leveraged) ways to play it. Incidentally, with the weakness in the dollar getting widely flagged I'd go for SHPP rather than SHIP. IMO, DYOR etc.
ambuchanan12: SHIP is not reflecting the BDI at all. hence i am out.
energyi: No surprise that the world is now awash with massive paper trading inflation. An example of this is the new trading in freight derivatives, described in this article (link below) John Banaszkiewicz, managing director of Freight Investor Services, the freight derivatives broker, said: "We have seen a whole new influx of players in the past year. The banks have been setting up proprietary desks and new funds have set up to speculate and make money in this market." Citigroup, Merrill Lynch and Macquarie Bank have set up proprietary trading desks in the past few months. Freight derivatives are forward contracts that were once used almost entirely by ship owners and manufacturing companies to lock in a fee for renting a ship, but now banks and hedge funds are making speculative bets on the market's direction. Indeed as I've been saying, the result of the credit swoon, has been to encourage the gearing up of even more crack up and commodity trading. / Freight Link:,Authorised=false.html? China factor helps drive freight derivatives By David Oakley in London Published: October 14 2007 22:03 | Last updated: October 14 2007 22:03 Bankers and hedge fund managers are increasingly turning to the nascent world of freight derivatives, as figures to be published today show the market is on course to hit a record $150bn (£74bn) in value – a 200 per cent increase on last year. With volumes in many other derivatives markets, such as credit default swaps, hit by the liquidity crunch, freight derivatives have, by contrast, experienced a big surge in business as a result of the booming Chinese manufacturing sector, which requires raw materials. To continue reading this article, please register = =
mcbeanburger: for those who think base metals story is over..... Telegraph.Co.UK Last Updated: 12:53am BST 25/08/2007 Do freight rates tell the true story? The focus has been on the credit crunch but the Baltic Index may give a better picture of the state of the world economy, writes Ambrose Evans-Pritchard The cost of leasing cargo ships to carry coal and metal to China reached an all-time high this week, defiantly ignoring a month of panic and tumbling prices across the commodity markets. Heavy traffic: the credit squeeze is having no impact on the day-to-day demand for base metals A 170,000-tonne Cape-size vessel now rents for $118,400 a day, roughly double the level a year ago. The Baltic Dry Index - which measures freight rates and is allegedly one of Alan Greenspan's favourite barometers of global health - has rocketed to a record 7,319. The Baltic Index tells the underlying truth, missed amid all the headline chatter about the credit crunch, says Barclays Capital. "Twice already this year it has proved a reliable indicator of fundamental trends for commodities when markets wobbled," it says. "Once the dust settles, the likelihood is for some very strong rebounds in commodity prices." Indeed, outside the Australian port of Newcastle a fleet of 55 immense cargo ships is still waiting to pick up iron ore and coal to supply the industrial revolutions of Asia - a powerful rebuke to bears insisting that the great commodity boom is now over. Yet - big caveat - the share prices of mining companies have plummeted, many dropping much harder than those of the banks loaded with sub-prime debt and toxic CDOs (collateralised debt obligations). Rio Tinto and Xstrata fell a quarter from their peaks in late July before recovering somewhat this week, while the smaller miners and explorers on London's Aim index or the Toronto exchange have been slaughtered. In Canada, a clutch of mining companies have been burned by the wild ructions in the credit markets. Many had exposure to the finance company Coventree, which failed to roll over $4.8bn (£2.4bn) of asset-backed commercial paper last week. Baffinland Iron Mines ($44m), Barrick Gold Corp ($65m), Ivanhoe Mines ($14m), and New Gold Inc ($152m), are among the companies that have not been able to get their money back - in some cases most of their cash. (Hence the recent flight into three-month treasury notes, deemed the only safe repository) In this climate of near panic it has become all but impossible for miners to raise loans. Credit will be at least 100 basis points more costly (1pc) for those - in the top tier - still able to obtain it. It is perhaps no surprise that mining shares have been driven into the floor. end
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