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ARCC, AOD, AGD, ADX, CII, and if you want some aggressive growth, high yield, and a bit extra risk, you can splash some BWLP, GSL, and FLNG (not sure what their 2026 dividends will look like, but 2025 was good).
I can see all 3 in the original post: BWLP, ABL, GAMB. Is it something missing?
LPG - a marine tanker business that transports liquid petroleum gas, a niche market product that is used in places without the infrastructure for natural gas, and also used as feedstock for making petroleum based products. Highly cyclical and volatile industry, also a despised industry because it has "petroleum" in the name. BWLP is also an interesting one, but they use the majority of their earnings on dividends for the shareholders, and I'm Canadian, so I'd lose 15% on withholding tax. Doubt anyone else here is interested in them, but I like them.
i like BWLP. risky? yes. worth it? also yes.
For the foreseeable future, tankers - particularly the independents that have spare DWT (deadweight tonnage) to exploit elevated spot prices - are the best midstream option for CAGR gains throughout 2024. [All freight rates are spiking due to a confluence of problems backing up lane traffic](https://cms.zerohedge.com/s3/files/inline-images/Snag_11856e33.png?itok=dgIUNafT), which is producing high TCE (time character equivalent i.e. daily revenue per ship) for all vessels. Two things to note: * Make sure they have sufficient LNG carriers in operation to take advantage. Construction of LNG carriers was halted during Covid and many of those vessels are just being completed in 2024 and 2025. You'll see moderate bumps this year, but the real party starts in 2025-2026 IMO. * Pure-play foreigner companies like Seapeak Maritime and Gaslog are *very sensitive* to both relative location of clients and FX rates. We're seeing the former with how the Red Sea blockade has rerouted Qatari LNG routes to India and SE Asia while forcing the E.U. to depend on the U.S. exclusively. For the latter reason, I'd recommend staying away from Mitsui O.S.K. and Nippon Yusen Kabushiki Kaisha. Despite their enormous LNG fleets, they're getting ass-blasted by the depreciation of the yen even though Japan's utilities are slowly accruing gas surpluses for resale to China and SE Asia. The India/SE Asia angle is opaque and has poor representation in NYSE unless you want to use the Nikkei or ASX. The only shipper I'm aware of is Singapore's BW LPG Limited (BWLP). The U.S./E.U. trade has DLNG, TNK, and TEN; GLOP was taken private in 2022. I have reservations about DLNG due to how two vessels are chartered out to Yamal LNG and the potential for its majority stakeholder to take it private.
Im dumping lot of cash into shipping ZIM, SEA, and BWLP
Normally, you can expect the price of the stock to fall by the dividend amount - especially in the case of a special dividend. I didn't look closely but it looks like BWLP is a non-US company so you also have to check on how taxes for the dividend is handled.
Recently listed $BWLP is paying a quarterly dividend of almost 24%, what's the downside to owning a shipping company? K1s? or any other surprise for someone trying to make money in this mad, mad world?