Talis Capital recently advised on its latest shipping transaction - the acquisition of a 12,200dwt 2011 built general cargo vessel. This vessel will be operated in the Black, Mediterranean and Azov sea region, alongside the existing fleet advised by Talis Capital. Full ship management services will be provided by INTRESCO LTD; a fully integrated ship management company based in Vienna, which provides sale & purchase, commercial, technical, day-to-day operational and crew management services.
Shipping is a sector the Talis Capital team has experience in, and has been actively monitoring for several years. While many investors now recognise the broader opportunity in shipping, Talis Capital has identified a niche sector of the market which can provide unlevered annualised yields above 15% and high levels of capital protection for investors. This deal completed a successful 2013 for the London-based multi-family office. Further to advising on the acquisitions of two dry bulk carriers earlier in 2013, the latest transaction marks the beginning of a considerable expansion of the fleet advised by Talis Capital. Having identified a pipeline of acquisition opportunities, Talis Capital is raising investor commitments for Project Blueline, which intends to complete 4-6 vessel acquisitions in the first half of 2014. Subsequent acquisitions will be made later in the year, subject to attractive opportunities remaining within the niche sector.
Vasile Foca, director and co-founder of Talis Capital said, “This is the third vessel acquisition of 2013, which has been an exciting year for the shipping portfolio. The existing vessels have been operating ahead of budget and we anticipate the larger tonnage of the latest vessel will serve to meet growing demand from Charterers in our markets.” Matus Maar, director and co-founder of Talis Capital added “the recent uptick in optimism for charter rates is well recognised by market participants, however we find the vessel supply conditions in our niche even more interesting. The fleet in these specific markets is aging, which combined with record scrapping levels and a limited newbuilding orderbook provides some key attractions to operating modern and fuel efficient vessels.”
Nikolay Ostapov, Managing Director and co-founder of INTRESCO Ltd (Ukraine) commented “we are pleased to strengthen the relationship with Talis Capital, having known the team for many years. The latest acquisition enhances the track record of our partnership, and we look forward to working with Talis Capital in the maritime sector over the coming years.” Maksym Khaulin, Deputy Director and co-founder of INTRESCO Ltd (Ukraine) added “Talis Capital and INTRESCO operate as one seamless team and I believe this element is very important for success in the shipping business. Our team look forward to working with new and existing investors, who see the exciting opportunity in our niche sector of shipping.”