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Park Street Shipping

Exit type:
Sale to private investors

Calculus has delivered a 1.81x return for investors in Park Street Shipping (PSS).

In February 2017 Calculus set up PSS in conjunction with Clarksons Platou, the world’s leading shipbroker and Nordic Hamburg, a technical manager. The £4.75m investment proceeds were used to purchase the MV Nordic London, a 2010-built South Korean Handysize dry bulk cargo vessel.

The timing of our entry into the cyclical shipping market was critical, with historically low charter rates and a subsequent decline in second-hand asset values presenting a unique investment opportunity. Various macroeconomic drivers triggered a significant market upturn in the relevant class of ships, allowing PSS investors to secure a very competitive purchase price for the MV Nordic London.

The MV Nordic London was successful sold and the company wound down, delivering a 1.81x return to investors.

Past performance is not a guide to future performance.