2024: Salamon AG tanker funds pay out 35%

2024 was another very successful year for the tankers of Dortmund-based Salamon AG. The three tankers in the Panamax class achieved average rates of between USD 29,500 and USD 31,000 per day and were once again able to make record distributions with operating costs of USD 8,000 – 10,000 per day.

With charter rates well above the values calculated in the fund prospectuses at the time, the three debt-free tankers were once again able to pay very high dividends: CAPE TAFT 30 %, FEDOR 35 %. The record holder is CAPE TAMPA, which achieved almost 40 %.

The charter income of the Capesize bulker BULK NORWAY was also at a more pleasing level. The rates reached an average of USD 21,500 and were thus 35 % higher than in the previous year. However, no dividends were paid. The focus here is still on paying off the ship’s debts.

All fund companies thus made a profit and show a provisional net profit for the year of between EUR 2 and 6 million.

Hans Akkermann, CEO and Chief Operating Officer of the Group, also expressed his satisfaction with the work of the technical manger Columbia Shipmanagement: ‘Our ships are in good technical condition, the operating cost budgets are being adhered to and the acceptance of the ships by the major charterers, especially the oil majors, is good. Just a few weeks ago, even an unannounced Port State Control by the US Coast Guard on our oldest ship, the almost 22-year-old FEDOR, did not reveal a single complaint. That is outstandingly good.’

For the current financial year, the management expects lower charter revenues for the Panama tankers and the Capesize Bulker. However, these should remain at a very adequate level for the tankers.