370,000 DWT Newcastlemax Dual-Fuel Synthetic Ammonia (LSA) Bulk Carrier 15-Year Charter 2026

Underwrite 370,000 DWT Newcastlemax bulk carriers powered by drop-in green ammonia dual-fuel 2-stroke engines on 15-year fixed time charters ($51,000/day TCE) and cash dividend yields.

Underwriting Assumptions

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

Green Ammonia Crew, Catalysts & Marine Ins ($/day)

Newbuild Green Ammonia 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