MV OIL TRUST DL-,01 WKN: A0RCH9 ISIN: US5538591091 Forum: Aktien Thema: Hauptdiskussion

Dropdown Inventory: KNOP's parent Knutsen NYK has been supportive through the years - it retains at least 25% of the limited partner interest in KNOP through both direct investment and ownership of the general partner. This company pioneered the shuttle tanker business. Knutsen has 6 vessels available for dropdown to KNOP, all with multi-year contracts. KNOP's last dropdown was in 2020, when it acquired the Tove Knutsen for $117.8M, less $93.1M of outstanding indebtedness. It was financed on a non-dilutive basis using cash on hand and borrowings under KNOP’s existing revolving credit facility. Management is reviewing potential dropdowns in 2022. With investors still hankering for preferred high yield stocks, one way to help finance a dropdown would be to issue a new preferred series at a much lower rate than the common units' current 12%-plus yield. Of course, refinancing rates would be even lower than that. Management should be able to refinance the 2023 debt maturity at a lower rate.

Fleet: KNOP has 17 vessels in its fleet, with an average age of 7.8 years. The main challenge facing management in 2022 is that there are several vessels with charters ending in 2022. The average remaining charter period is ~2 years. KNOP's customers have options to extend these charters by a further 2.7 years on average. This has prompted some debate about the possibility of a future dividend cut, if KNOP has to recharter these vessels at much lower rates: The Tordis, Vigda, and Lena are all off-hire in 2022, and not commencing new charters until Q2-Q4 2023. The Bodil's charter extension starts in Q2 2022, but doesn't have a new charter until 2024. However, parent Knutsen NYK is employing the Bodil under a rolling time charter contract, with the vessel being used in Knutsen NYK’s North Sea business. An extension to the charter has been agreed for a further 3 months on the same commercial terms, with 3 further one-month extensions of the charter as option, potentially taking the vessel's fixed employment to June 2022. The Tordis Knutsen started its 1st planned 5-year special survey drydocking in mid-December 2021, with off-hire expected to be from for ~ 60-days. KNOP has five other vessels undertaking scheduled drydocks in 2022. The Hilda's charter runs through Q3 '22, with a 3-year extension available to ENI, its charterer. The Brazil and the Anna both have charters ending in 2022, with 6-year extensions available:

Looking for steady niche high yield income? You may want to climb aboard KNOT Offshore Partners LP (NYSE:KNOP), a leader in the niche industry of offshore shuttle tankers. This tiny industry is less than 1% of the world's total shipping fleet. It may be a tiny industry, but shuttle tankers perform a vital service for offshore oil producers, who utilize them to get their product to the mainland. Shuttle tankers service a growing proportion of all offshore production, recently surpassing 90% in Brazil. KNOP's management estimates that there are ~12 customers and ~3 suppliers in this sub-industry. These are specialized vessels that take 2.5-3 years to build, which helps support KNOP's re-contracting efforts, as its customers often utilize the extension options on these vessels. These vessels have a lifespan of ~25 years. KNOP's fleet utilization has typically been steady and strong, with an average of ~99.5% since KNOP's 2013 IPO, which has resulted in steady revenues. Recently, however, KNOP's fleet utilization has been lower, due to several off-hires - in Q3 '21 the fleet operated with 91.9% utilization for scheduled operations.

Management maintained KNOP's $0.52 dividend for Q4 '21 - the 26th consecutive $0.52 payout. KNOP yields 12.72%, and goes ex-dividend on 1/27/22. KNOP is up 19% in 2022, but still looks undervalued. Interest expense fell by -37.6% in 2020, and also fell -16% in Q1-3 '21. Rechartering issues, valuations, debt leverage, and performance are all covered in this article.

Vielleicht zu lang 🤔

habe versucht, Dir den Artikel zu schicken, geöffnet, kopiert und gesendet. Erscheint aber immer nur die Zeile, die Du auch gesendet hast 🤷‍♀️🙄

Mein Handy kann die .bekloppte Seite nicht öffnen, bin ja auf arbeit. Ich weiß also gar nicht was in dem knop Bericht steht den ich geteilt hab 🤷‍♂️😄

Ich liebe Gazprom, gute Divi, aber man braucht Nerven, das stimmt. Habe seinerzeit bei 7,70 Euro verkauft. Ging immer zwischen 3,xx Euro und 7,xx Euro hin und her. Bin allerdings dann nicht mehr eingestiegen, weil ich Angst hatte bezüglich Nordstream 2. Danach ging sie dann auf über 8,xx Euro 🙄 habe ich mich natürlich geärgert. 😖🤷‍♀️

Danke Willy, sieht doch garnicht so übel aus 🤷‍♀️⛴🛳🚢

https://seekingalpha.com/amp/article/4479786-knot-offshore-partners-steady-dividend-in-q4

Gazprom gerade auch totale Vermöbelung weil russische Aktie. Die wollen stärker als noch zuvor in Ausschüttung gehen aber die Anleger fliehen. Die Divi dort ist auch nicht ohne, wenn man die Kursschwankung aushält