EuropeFinance and Insurance

MPP ship investment scheme launched in the UK

A new company, Corn Rising Shipping, is looking to raise £5 million ($7m) to purchase a multipurpose vessel ship under the UK’s Enterprise Investment Scheme (EIS). The company has been set up by Charles Gamon, a broker since 1982 and occasional shipowner.

The raise is available exclusively through Wealth Club, a dedicated investment service for high net worth individuals, and allows for a minimum investment of £10,000. The offer is available until March 5 unless it reaches capacity sooner.

Wealth Club claims a potential return for investors of 2.1 x money invested over a period of three to five years is possible.

Commenting on the offer Gamon said: “Having owned 14 ships in my lifetime and sold the last in 2011, I believe this is an excellent time to get back into shipowning. The market is at an inflection point. Demand is rising, but there is a limited supply of ships which should push chartering prices up. At the same time secondhand ship prices are at ten year low, which should mean they have only one way to go – upwards.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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