2024: Salamon AG shipping funds pay out 20% in the first half of the year

9. July 2024

Sustained tanker boom makes investors happy. The first half of 2024 was once again very successful for the tankers of Dortmund-based Salamon AG. The three tankers in the Panamax class achieved average rates of between USD 33,700 and USD 36,500 per day and were once again able to make substantial payouts with operating costs of USD 8,000 – 10,000 per day.

The three Panamax tankers built between 2003 and 2009, all of which are free of bank debt, were again able to pay very high dividends: CAPE TAFT 17.50 % (1 HY 2023 10 %), FEDOR 20 % (25 %). The record holder is CAPE TAMPA, which achieved 23.5 % (0 %) despite a 15-year docking.
The charter income of the Capesize bulker BULK NORWAY was also at a pleasing level. Rates in the first half of the year totalled USD 22,400 and were therefore 87 % higher than in the previous year. However, no distributions were made.
For the second half of the year, the management expects lower charter income for the Panama tankers and the Capesize Bulker. However, these should still be at a good level.
The photo shows the Cape Tampa leaving the Fujian Huadong shipyard in China in May 2024 after successful class renewal.

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