400,000 DWT Valemax Dual-Fuel Liquefied Synthetic e-LNG Bulk Carrier 15-Year Charter 2026

Underwrite ultra-large 400,000 DWT Valemax VLOC ore carriers powered by drop-in synthetic bio-LNG dual-fuel ME-GI engines on 15-year fixed time charters ($54,000/day TCE) and cash dividend yields.

Underwriting Assumptions

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

Cryo-Gas Crew, Spares & Marine Ins ($/day)

Newbuild e-LNG Valemax 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