Marine Capital announced the launch of Eclipse Shipping, the first UK-based vehicle to offer the chance to buy shares in cargo ships.
The appeal of buying stakes in container ships, the careers of pop stars and farm shops is far greater in the wake of a credit crunch. Moreover, given equity market volatility, advisers report more clients are considering investing in quirkier schemes in an attempt to shield their portfolios if equities fall further. Buying ships permits the chance to access the boom in trade to China and India, says Anthony Foster, chief executive of Marine Capital, and while imports to the US are falling, a rise in exports has offset the shortfall. Demand for tankers is also likely to rise as more refineries are built in the Middle East and Asia. Ships, which cost from $50m to $100m, are bought and held for two to four years. Another advantage is that companies owning ships pay tonnage tax, a generous system that taxes shipping based on its tonnage rather than its profits. Investments in these assets are exempt from inheritance tax after two years as they are trading businesses. Returns in this sector have averaged 24.5 per cent each year, in the past 10 years.
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