Easterly Clear Ocean Expands Revenue with Strategic Vessels Sale
Easterly Clear Ocean Capitalizes on Strategic Vessel Sales
Easterly Clear Ocean, a forward-thinking company dedicated to exploiting opportunities within the maritime sector, has recently made headlines with its strategic sale of three chemical tankers. This decision aligns with their mission to capitalize on prevailing imbalances in international shipping markets that have surfaced over recent years.
Success in Chemical Tanker Market
Since launching in September 2021, the Easterly Clear Ocean Tranche I has delivered impressive results, returning 2.73x net to its investors. The firm is committed to sustaining this momentum, with plans to maintain significant dividend payouts as its remaining fleet exhibits a remarkable existing useful life.
Market Dynamics and Growth Potential
Easterly Clear Ocean is keenly focused on opportunistic subsectors of the maritime market where demand outstrips supply, aiming for distinguished returns. The company’s strategic decision to sell these vessels is part of a broader approach that highlights their expertise in acquiring offshore assets at attractive prices while optimizing investor returns through timely divestitures.
Insights from Leadership
Darrell Crate, Founder and Managing Principal of Easterly Asset Management, emphasized the significance of these actions, stating, "The sale of these vessels reflects our disciplined approach and expertise." His confidence in the long-term potential of the chemical tanker market remains strong, given the global increase in demand for chemical transportation amidst a backdrop of aging tankers being phased out more quickly than they can be replaced.
Details of the Sold Vessels
The vessels that have recently been sold include:
- Easterly Hawk (built 2008, 25,385 Deadweight tonnage)
- Easterly Falcon (built 2009, 25,418 Deadweight tonnage)
- Easterly Osprey (built 2009, 25,431 Deadweight tonnage)
Jake Scott, Chief Operating Officer of Easterly Clear Ocean, stated, "These sales demonstrate our ability to execute our investment thesis effectively and turn market dislocations into profitable investment opportunities." The company’s recognized proficiency in maritime finance empowers its investors to navigate the complex chemical tanker marketplace with assurance.
Commitment to Investors
With a robust investment strategy, Easterly Clear Ocean has successfully generated high quarterly income, alongside attractive total returns within the chemical tanker sector. Phil Juliano Jr., Head of Sales at Easterly Asset Management, remarked, "This announcement confirms Easterly's established track record providing alternative investment solutions. With these transactions, we aim to effectively capitalize on intricate market dynamics to benefit our investors significantly."
Global Fleet Operations
As one of the largest western fleets of chemical tankers globally, Easterly Clear Ocean operates 10 vessels that traverse international routes, facilitating the transport of essential industrial goods. These include commodities such as vegetable oil, molasses, palm oil, methanol, ethanol, and Cast Polypropylene.
About Easterly Clear Ocean
Easterly Clear Ocean stands out by allowing investors direct access to the often opaque international shipping sector. The company has been structured to maximize opportunities arising from supply and demand mismatches throughout various maritime markets.
Future Outlook and Investment Strategy
With an eye toward the future, Easterly Clear Ocean continually seeks attractive entry points driven by historically low order books, the capital-intensive nature of new builds, and rising ton-mile demand—a key factor underscoring the expansion of capacity in the maritime industry.
Frequently Asked Questions
What services does Easterly Clear Ocean offer?
Easterly Clear Ocean provides investors with access to international shipping markets, focusing on the chemical tanker sector.
How has Easterly Clear Ocean performed financially?
Since its inception, the firm has achieved a 2.73x net return for its investors, signaling strong financial performance.
What types of goods do their tankers transport?
The fleet transports a variety of essential goods, including vegetable oil, methanol, and other chemicals, across global routes.
How does Easterly Clear Ocean identify investment opportunities?
The company targets maritime subsectors where demand exceeds supply, capitalizing on these disparities to optimize returns.
What is the future outlook for Easterly Clear Ocean's marketing strategy?
The company plans to pursue opportunistic investments as industry dynamics evolve, aiming for continuous growth and increased investor returns.
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