Wednesday, January 21, 2009

Shipping trusts at a glance

Source: OCBC Investment Research, 20 Jan 2009












Rickmers MaritimePacific Shipping TrustFirst Ship Lease Trust
IPO200720062007
SponsorRickmers GroupPacific Intl LinesSchoeller Holdings/ HSH Nordbank AG/Bayerische Hypo-und Vereinsbank
Sponsor role Acquisition pipeline, ship managementAcquisition pipeline, ship management,customerCustomer, ship management if needed
Distributions USD/quarterly USD/quarterly USD/quarterly
Pay out policy Fixed DPU amount 90% of cash earnings after debt repayment 100% of cash earnings





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