IN BRIEF: Taylor Maritime fixes five vessels on one-year charters

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Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Says five vessels in fleet have been fixed on time charters for an average of 11 to 13 months, for average annualised unlevered gross cash yield over 30%. This is based on fair market values, and increased from an average annualised unlevered gross cash yield of over 24% for the fleet as of March 31.

‘During the Chinese New Year period, a time of typical seasonal weakness, we deliberately fixed a portion of the fleet on short-term charters as we anticipated a strengthening market in the lead up to the summer. This approach has now allowed us the flexibility to capture longer-term charters for five vessels at attractive yields for an average duration of approximately one year each to high-quality charterers and is part of our strategy to secure more cover on an increasing proportion of our fleet this summer and beyond,’ Chief Executive Officer Edward Buttery says.

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