Hoegh LNG LP is a curious proposition. The company is into floating LNG infrastructure and runs five FSRUs, which makes it more comparable to Exelerate Energy.
Hoegh is financially sound and passes basic safety checks. Interest expenses are below 50% of the company's operating income, and preferred distributions are below 20% FCF. The issue is that the stock is illiquid and hardly accessible.
ZIM is a weird animal. I treat it like a call option on container ships' day rates without expiration. Simply, it is a highly asymmetric speculative idea.
Share buybacks are way better for speculative ideas. That said, ZIM could better deploy its capital by repurchasing some of its shares and repaying its debt.
GasLog Partners LP has elected to be treated as a C-Corp. So investors receive a Form 1099 and not a Schedule K-1. https://www.gaslogmlp.com/investors/tax-information/
Similarly, Dynagas LNG too issues a 1099 and not K-1. http://www.dynagaspartners.com/
Thanks for the correction. I updated the article.
What's your opinion on $HMLPF? (Höegh Lng Partners 8 75 Cumulative Redeemable Pref Shs Series A)
Hoegh LNG LP is a curious proposition. The company is into floating LNG infrastructure and runs five FSRUs, which makes it more comparable to Exelerate Energy.
Hoegh is financially sound and passes basic safety checks. Interest expenses are below 50% of the company's operating income, and preferred distributions are below 20% FCF. The issue is that the stock is illiquid and hardly accessible.
What are your thoughts on ZIM's special dividend? Was it a smart use of capital, or would paying down some debt have been a better choice?
ZIM is a weird animal. I treat it like a call option on container ships' day rates without expiration. Simply, it is a highly asymmetric speculative idea.
Share buybacks are way better for speculative ideas. That said, ZIM could better deploy its capital by repurchasing some of its shares and repaying its debt.
Totally agree, share buybacks and repaying debt first and then, if conditions are right, give the special dividend.