We did some prospecting of SSC not too long ago here at Investment Moats. [Analysis here] This time round it is more of a note to self. I ever wonder every time they went to acquire a ship what it actually entails. Might as well get it over with and do it once and for all here. So it seems a typical ship acquired by SSC fits the following profile:

1. It WILL come with a long charter typically 15 years
2. It’s a time charter. Charterer directs where the ships are suppose to be at and which destination it is suppose to go to. SSC maintains the ship
3. Charterer is a blue chip car and truck charterer. This ensures very low probability of charterer default
4. With 1 –3 in mind, you can match it with the lowest form of financing
5. This becomes very predictable. As a purchaser, you can calculate ...

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