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  6. Tufton Oceanic Assets Limited (SHIP)

  7. Tufton Oceanic Assets Limited (SHIP) Share Price

SHIP

Tufton Oceanic Assets Limited

1.08
0.00 (0.0%)
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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 Shares Traded Last Trade
Upgrade Icon
  0.00 0.0% 1.08 0.00 07:30:13
Bid Price Offer Price High Price Low Price Open Price
1.07 1.11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Finance Services 89.61 107.30 0.35 2.51 328.83
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.08 USD

Tufton Oceanic Assets (SHIP) Latest News (1)

Tufton Oceanic Assets News

Date Time Source Headline
30/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
26/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
25/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
24/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
23/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
22/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
19/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
18/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
17/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares
16/5/202307:00UKREGTufton Oceanic Assets Ltd. Transaction in Own Shares

Tufton Oceanic Assets (SHIP) Discussions and Chat

Tufton Oceanic Assets Forums and Chat

Date Time Title Posts
12/5/202312:31Tufton Oceanic Assets - Trusting in Second-hand Ships35
01/7/201415:09Shipping Stocks & the Baltic Dry Index (BDI)19
14/3/201219:39Direct-shipping nickel laterite Berong Nickel 201220
19/9/200921:06Charting Freight Rates31
11/4/200713:50Far East Silo Corp (FESSF)2

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Tufton Oceanic Assets (SHIP) Most Recent Trades

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Tufton Oceanic Assets (SHIP) Top Chat Posts

Top Posts
Posted at 12/5/2023 12:31 by lord gnome
The GBP is strong and the share price is weak - so I've added a few more. Paid slightly less than 1.11 at USD1.23 to the GBP. That's a touch under 90p in real money.
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Posted at 13/4/2023 07:24 by lord gnome
Share buyback programme continuing at a steady pace - too steady, perhaps. They are buying back at an even rate of 100,000 shares per day. My best guess is that they are helping out a shareholder who needs to sell a large quantity but without dumping them on the market in one go and trashing the share price. The shares will not make any progress whatsoever until the seller is cleared. What we are seeing is the agreed price. Could be a good time to add / buy.
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Posted at 28/7/2021 14:03 by valhamos
The improved NAV predicted a year ago in my post 19 above has certainly come to pass. Good to see Tufton capitalising on strong container ship values with a couple of disposals this month with realised IRR of 31% and 47% with proceeds being recycled into vessels with excellent yields. With the planned dividend increase in Q3 yield will be a still very attractive 6.6%
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Posted at 22/4/2021 07:11 by jonwig
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 .
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Posted at 12/4/2021 20:18 by marktime1231
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?
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Posted at 22/3/2021 08:23 by jonwig
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.
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Posted at 06/8/2020 09:53 by 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%
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Posted at 08/3/2019 13:56 by 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 ;)
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Posted at 21/2/2019 10:44 by 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!
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Posted at 07/2/2018 00:07 by 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.

https://moneyweek.com/earn-a-steady-income-from-ships/
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Tufton Oceanic Assets share price data is direct from the London Stock Exchange
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