Allocean Maritime Investments is claiming to have launched the first direct commercial shipping assets investment regulated for the UK market.
The authorised shipping investment company has teamed up with a major international tanker operator to launch the scheme, which has an annual target return of 7% after charges and tax and is aimed at sophisticated, high net worth and professional investors looking for greater diversification benefits than the major assets classes can offer.
The fixed rate charter is aiming for an overall net annual internal rate of return over its five-year term of 9-16%.
Clifford Chance, PricewaterhouseCoopers and Moore Stephens have acted as advisers to the scheme in order to bring proven, independent, multi-layer management control to the investment.
The asset will be purchased on a sale and leaseback basis to its current owners whose familiarity with the vessel will see them continue to operate and employ it along its historic routes around the Mediterranean, Black Sea and European Continent.
Minimum investment is £30k or $50k. The intention is that the vessel will be sold at the end of the charter period to realise investors’ capital.
Allocean will offer a ‘bargain matching’ function should investors want to sell their position early.
Allocean Maritime Investments managing director Braden Harris said: “With the global economic recovery clearly underway and the relocation of oil refinery capacity eastwards, new routes are opening up, which is boosting the underlying demand for refined product transportation. This, in turn, is creating strong interest among both charterers and investors in this class of vessel, which is ideally positioned to add further value over the longer term.”
