Anchor Ship Partners, a Tokyo-based independent fund operator, is launching a new investment fund that will purchase LNG ships and other large vessels, banking on the increased demand once Japan starts importing American shale gas in 2017.
According to Nikkei Asia Review, the fund will use its 500 billion yen ($4.1 billion)in assets, as well as money put up by investors, to purchase ships that the fund will then lease out to shipping companies. The leasing fees will be then distributed to investors as dividends.
Anchor Ship Partners believes that its new fund – which aims for an annual average return of more than 5 per cent – will enjoy strong demand since shipping companies do not have the cash to carry out all the necessary investment on their own.
Nikkei Asian Review point out that ship investment funds are becoming more common. Sumitomo Mitsui Trust Bank has joined forces with a large French financial company to create a specialized fund that will begin making ship loans next month. Blackstone Group and other U.S. investment funds are also stepping up efforts in this field.
Source: Nikkei Asian Review.
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