2022: Record revenues for SAG tankers

2. February 2023

Tanker shipping is notoriously volatile, so it comes as no surprise that after 2021, probably the worst tanker year in history, the past year 2022 became the most successful year for Salamon AG’s tankers. Although the SAG tanker fleet was reduced by three 19 and 20 year old units for age reasons, the three Panama tankers Fedor, Cape Taft and Cape Tampa can now participate in the new upswing without delay. They are deployed on a voyage basis (spot market) in the Penfield Pool and are therefore not trapped in a time charter that is too low.
The Fedor was able to achieve rates of $26,600 per day last year and the Cape Taft and Cape Tampa came in at daily earnings of $28,000 per day each. With these rates, the shipping companies were able to build up good cash reserves again over the course of the last 10 months. In January 2023, the success was then also reflected in the shareholders: Cape Taft paid out 5%, and the debt-free Fedor was even able to pay out 7.5%. The shareholders of the Cape Tampa waived a payout and decided to use the available liquidity for the complete and early repayment of the ship mortgage loan.
And it should continue at this rate level in 2023, according to forecasts by the pool manager. January, which was seasonally strong anyway, got off to a very good start: the pool reached a daily rate of almost $ 56,000.


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