340,000 DWT Newcastlemax Dual-Fuel Liquid Cryogenic Hydrogen Bulk Carrier 15-Year Charter 2026

Underwrite 340,000 DWT Newcastlemax bulk carriers powered by -253°C liquid cryogenic hydrogen dual-fuel ME-GI engines on 15-year net-zero iron ore charters ($48,000/day TCE) and cash dividend yields.

Underwriting Assumptions

15-Year Fixed Time Charter Rate ($/day TCE)

Cryo-Hydrogen Tech Crew, Insulation Spares & Ins ($/day)

Newbuild Cryo-Hydrogen Newcastlemax Capex ($M)

Senior Maritime Clean Energy Loan Financing (%)

Ship Mortgage Interest Rate (%)

Projected Economics

Annual Operating EBITDA

Net Annual Distributable Cash Flow

Net Cash-on-Cash Dividend Yield