Taylor Maritime Investments has secured long-term charters for five of its bulk carriers for an average of 11 to 13 months.
The London-listed firm said the charters should deliver average annualised unlevered cash yields in excess of 30%, based on fair market values.
The Ed Buttery-led vehicle added that it deliberately fixed a portion of the fleet on short-term charters during the Chinese New Year period, anticipating a stronger market in the lead up to the summer.
“This approach has now allowed us the flexibility to capture longer-term charters for five vessels at attractive yields for an average duration of approximately one year each to high-quality charterers and is part of our strategy to secure more cover on an increasing proportion of our fleet this summer and beyond,” remarked Buttery.
The handysize and supramax specialist currently has a fleet of 28 vessels.