Overview
Nimrod Sea Assets Ltd aims to obtain income return and capital appreciation for its shareholders by participating in vehicles which acquire, charter and sell Marine Assets associated with the offshore oil and gas industry.
Nimrod Sea Assets Ltd typically obtains exposure to Marine Assets by acquiring minority interests in special purpose holding companies (Marine Asset Companies), each of which will ordinarily hold a single Marine Asset. The Company will seek exposure to Marine Assets that have been or will be chartered on medium to long term leases to reputable Marine Asset Operators.
The majority of the Marine Assets by number to which Nimrod Sea Assets Ltd will have exposure at any time will be those that are needed for the inspection, repair, maintenance and operation of installed infrastructure and production equipment for use in the offshore oil and gas industry. Income distributions will derive from payments under the Charter Party Agreements. On the basis that capital is not returned prior to the winding up of the Company, the Company will, once fully invested, target half yearly distributions to investors, amounting to yearly distributions of 10 per cent. of the Issue Price of US$1.00 per Share
You can access the fund’s website here
Research History
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18 Jan 2018 2 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
News
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07 Feb 2017 1 min read
All trust sectors bar one made money in ’16
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
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29 Jul 2016 1 min read
Nimrod Sea Assets says Swiber Holdings in liquidation
Nimrod Sea Assets has been informed that a winding-up application has been filed in Singapore in respect of Swiber Holdings Limited. The application was filed by the Board of Directors of Swiber Holdings Limited on 27 July 2016 and provisional liquidators have been appointed. The Company owns a 26% share in Bukit Timah Offshore DIS which […]
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04 Jul 2016 6 min read
Nimrod Sea Assets results reflect oil price woes
Nimrod Sea Assets has published results for the year ended 31 March 2016. The company made various announcements in the early part of the year. These included the decision to effectively halt any further deals and new transactions; to pay four quarterly dividends of 2 cents per share from June 2015 to March 2016, most of […]
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25 Apr 2016 1 min read
Nimrod Sea Assets says Odin Viking charterer two months behind on payments
Viking Supply Ships A/S, charterer of the ODIN VIKING, in which Nimrod Sea Assets has a 43% interest through Norseman Offshore AS (“Norseman”), is now two months overdue with respect to its charterhire payments for the vessel. Norseman has been advised that Viking Supply Ships A/S has appointed Swedbank as its financial adviser and that […]
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13 Apr 2016 1 min read
Nimrod Sea Assets to hand back uninvested cash
Nimrod Sea Assets had an investment period of 18 to 24 months. Any cash which had not been invested or committed at the end of this investment period was to be returned to shareholders as soon as practicable. The Board had anticipated being in a position to return the unrequired, uninvested cash to shareholders after March […]
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30 Nov 2015 2 min read
Nimrod Sea Assets plans capital return
Nimrod Sea Assets has published interim accounts covering the six months ended 30 September 2015. From 24 March 2014 (the date the Company listed on the SFM) to 30 September 2015, Nimrod Sea Assets invested 54% of available funds. They say the NAV at the end of September was 68.96 cents per share. The Board has […]
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17 Sep 2015 2 min read
SQN launches £180m fund raise on back of annual results
SQN Asset Finance has published its first annual report covering the period from launch in July 2014 to the end of June 2015. At the end of June SQN had a market cap of £193.3m, assets of £178.9m, an NAV per share of 99.93p and had paid dividends totalling 4.28p. The share price at the […]
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22 Jul 2015 1 min read
Discount trends, big names big prices
http://www.moneyobserver.com/news/21-07-2015/discount-trends-big-names-big-prices Investment trusts with big name managers saw their share prices soar over the second quarter as investors sought out the best active management.
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1 min read
The Investment Trust winners and losers in Q2
UK smaller companies funds feature quite prevalently in the lists on the back of a decisive election result in the UK and some funds close to the end of their lives made significant progress during the quarter for stock specific reasons. http://whichinvestmenttrust.com/the-investment-trust-winners-and-losers-in-q2/
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20 Jul 2015 2 min read
Nimrod Sea Assets struggling in face of falling oil price
Nimrod Sea Assets has published its first set of results covering the period from 1 March 2014 to 31 March 2015. The fund has 54% of its capital invested in seven companies holding nine vessels. The falling oil price has led to problems of varying degrees across six of the seven investments. The two most serious […]
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16 Jul 2015 1 min read
Small company investment trusts got election boost
Investment trusts specialising in smaller companies were among the top performers of the past few months after a decisive election result improved confidence in the sector, new research shows. But commodity and Asia-focused investment trusts were among the stragglers as investors shunned stocks exposed to an economic slowdown in China or a US rate rise, […]
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22 Jun 2015 2 min read
Nimrod Sea Assets amends dividend, investment in administration
Nimrod Sea Assets has updated its dividend policy. it plans to pay quarterly dividends of 2 cents per share between now and March 2016. The review was triggered in part by the following news. One of its investments, mv red 7 Alliance has been given notice that Red7Marine Offshore Limited (the charterer of the vessel) had […]
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11 May 2015 3 min read
Nimrod Sea Assets hit by oil price fall
Nimrod Sea Assets published a trading update on Friday afternoon in which it said Fletcher Shipping has notified Aberdeen Offshore (which is the General Partner of the entity in which Nimrod Sea Assets has a 75% equity interest) that it will not be taking delivery of the second vessel (known as FS Scorpius) from the […]
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30 Apr 2015 1 min read
Nimrod buys multi-role support vessel
Nimrod Sea Assets is paying $8m for a 50% stake in a multi-ole support vessel – EDT Jane – and will charter the asset to EDT Offshore Ltd on a bareboat charter party deal lasting between five and ten years depending on purchase options the charterer can exercise. They say EDT Offshore Ltd is an […]
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17 Nov 2014 1 min read
Nimrod Sea Assets adds two platform supply vessels
NSA : Nimrod Sea Assets adds two platform supply vessels Nimrod Sea Assets is spending $24.4m on a 75% stake in two new platform supply vessels (PSVs), $12.75m now and the balance next April when the second of the two boats is complete. They will be chartered and operated by Fletcher Shipping ( designation: FS Cygnus, […]
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04 Nov 2014 1 min read
Nimrod Sea Assets buys Remote Sub support ship
NSA : Nimrod Sea Assets buys Remote Sub support ship Nimrod Sea Assets is paying $9.6m for a 51% stake in Altus Subsea DIS which will purchase the Remote Operated Vehicle Support Vessel, Altus Invictus, from Hallin Marine currently under bareboat charter to Marine Engineering and Diving Services for a further 4.5 years. As part […]
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20 Oct 2014 1 min read
Nimrod Sea Assets buys share of seismic vessel
NSA : Nimrod Sea Assets buys share of seismic vessel Nimrod Sea Assets is spending $6.65m to buy a 17.5% stake in the partnership that owns the M/V Oceanic Endeavour, “a high-end, 16 streamer, seismic vessel bareboat chartered to CGG Eidesvik and then time chartered to CGG Veritas”. The seismic data produced by the vessel […]
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15 Oct 2014 1 min read
Nimrod Sea Assets buys dive support vessel
NSA : Nimrod Sea Assets buys dive support vessel Nimrod Sea Assets has bought a dive support vessel (to be renamed Red 7 Alliance) for $10.6m. The deal has been achieved by acquiring a 99.5% stake in the company that owns the boat. Red 7 Alliance will be back-to-back bareboat chartered to Red7Marine Group (a […]
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19 Jun 2014 1 min read
Nimrod Sea Assets : NSA
Nimrod Sea Assets has made its first purchase – buying a share in three vessels for $6.7m. The vessels – the Swiber Elsie-Marie, the Swiber Anne Christine and the Swiber Mary-Ann are 10800 BHP AHTS / Supply vessels and are on a bareboat charter to Swiber, a Singaporean listed off-shore contractor, until 2019/20.
