Taylor Maritime Investments Ltd - investment company specialising in bulk carrier segments of the global shipping sector - On Wednesday, reported net asset value per share unchanged at $1.48 as at September 30, compared to March 31. NAV total return for the six months to September 30 is 2.6%. For the first financial half, the company declared an unchanged dividend of 4.00 US cents. Taylor Maritime notes good demand for dry bulk commodities, especially minor bulk and grain, combined with ongoing fleet inefficiencies due to disruptions in the Red Sea, which supported charter rates and partially offset a usual summer lull.

Looking ahead, the company says: ‘The medium-term outlook remains positive underpinned by modest supply growth forecasts, by historical standards, following several years of limited ordering and newbuilding activity. With shipyards operating near capacity and a heavily backdated orderbook, a recent uptick in orders is unlikely to disrupt this trend over the medium term even with a recent expansion of shipbuilding capacity as shipyards continue to prioritise orders from other, higher margin, shipping sectors such as gas carriers, tankers and containers. Tightening environmental regulations will further impact effective supply through slow steaming and recycling of older, less efficient tonnage, particularly for the aged geared dry bulk fleet, while also enhancing the value of efficient and less carbon intensive vessels.’

Current stock price: 76.00 pence per share, closed 3.1% lower on Thursday in London

12-month change: up 11%

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