Singapore Shipping Corp is a shipping company I covered a fair bit in the past. For the history of write-ups, readers can review at the bottom summary of this article. Yesterday the company announced their 3rd quarter results.
First Contribution from Capricornus Leader
In this quarter results, what made me most anticipate about the results was the maiden contribution of the first second hand PCTC ship purchased for a total of US$33 mil. In the annual report, the chairman’s message indicate that over the life time of the charter (15 years), these 2 ships will earn US$188 mil in revenue, or what we anticipate to be US$12.5 mil per year.
Since the charter rates (revenue) should stay largely the same, not to mention costs, we should be able to extrapolate the full year earnings for 1 ship based on the quarter results. ......
