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

kann auch nicht meckern, mutares bei mir noch grün. Ansonsten wie immer, Sayona und Varta rot bis dunkelrot 😖, Linde mit 0,10 Euro (5 Cent pro Aktie 🤭 ) leicht rosa, Der ganze Rest grün 🙂🥰🥳🥳🥳🥳🥳🥳🥳🥳🥳🥳

Also meinem Depot würde es in der Breite eigentlich gut gehen, wenn heute nicht ein paar meiner großen Positionen (Mutares, Investor AB, Alphabet, Amazon) auf die Fresse bekommen würden :D

😃👏👏👏🥳

Also es gibt ja nicht viel was aktuell grün ist aber unsere kleine Pumpenstation läuft 🙂💰

🤑👏👏👏🥳

Schön grün :D

Leute, unser Öl sprudelt 👍😎🛢🛢🛢

Weil?

MVO Opening gefällt mir :D

Schau ich mir zuhause an 😄 Am PC 😉 In deutsch 🤣🤷‍♂️

Okay, ich muss aufhören, da sind ja noch mal gefühlt fünf Seiten und Diagramme.

While Revenue was flat in Q1-3 2021, EBITDA and DCF have both seen declines due to the off-hire and technical issues in the fleet. One bright spot has been Interest Expense, which decreased by -37.6% in 2020, and also fell -16% in Q1-3 '21. https://ibb.co/MGWv0Jr Distributions: In the Q3 '21 presentation, KNOP's management reiterated its intention to maintain the $.52 quarterly distribution. They made good on this priority this week by announcing another $.52 distribution, which goes ex-dividend on 1/27/22.

Earnings: Q3 '21 revenues were slightly lower than the second quarter due to several vessels experiencing temporary technical issues or transitioning between charters. Net Income went from a -$10.9M loss in Q2 '21, to a $13.5M gain, due to a $29.4M non-cash write-down in Q2 '21 on the Windsor Knutsen vessel, which had to be converted to a shuttle tanker. Without the writedown, Q2 '21 Net Income would've been ~$19M. DCF, which adds back non-cash items, was $18.64M in Q3 '21, vs. $23.97M, and Adjusted EBITDA was $47.2M in Q3 '21, vs. $52M in Q2 '21. https://ibb.co/61Bnf8W

Wie hast Du das gemacht? Warum ging es bei mir nicht?

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: