»Twinfonds« I
The Vessels
The fund is made up of 2 containerships, MV »STADT ROSTOCK« and MV »KING ADRIAN«. Both ships are modern full container ships of the so-called Sub-Panamax Class with a carrying capacity of 2700 TEU. The KING ADRIAN« was taken over by the investment company on the 19th January 2006 and is already in operation. On the 20th October 2006 the MS "Stadt Rostock" was delivered to the selling company Wilsteam Maritime Co. Ltd. Limassol / Cyprus and was taken over on the same day by the MS "Stadt Rostock" Zweite T + H Schiffahrts GmbH + Co. KG. The ship was taken over by the Charterer on the 27th October 2006. Both ships are made in Germany.
The Market
Since introduction, the container commerce has shown an above average growth in comparison to the world economy and also to the overall world trade. Containerships of the larger classes such as the MV »STADT ROSTOCK« and the MV »KING ADRIAN« are all-purpose ships and therefore very flexible as they can be deployed in the regular as well as the feeder services.
In the 2,000 to 3,499 TEU ship range, which would be part of the competitive environment of the MV »STADT ROSTOCK« and MV »KING ADRIAN« , there are 217 ships on order at the dockyards which represents approx. 30% of the current operating fleet. Critical to the further development of and the demand for container ships is the development of the world economy and in particular that of the countries in South-East and East Asia. Should the current positive conditions continue then we can expect further growth in container traffic for the foreseeable future.
The Partners
Shipyard: The MV »KING ADRIAN« was built by Werft Nordseewerke GmbH, Emden and was placed into service on December 22, 2004.
The MV »STADT ROSTOCK« was built by Aker Yards, Germany, and was delivered to the Wilsteam Maritime Ltd.;Limassol/Zypern on October 20, 2006. Aker Yards, Germany, has shipyards in Wismar and Rostock-Warnemünde (Germany).
Charterer: A charter agreement for the vessel MS »STADT ROSTOCK« exits with the ShippingCorporation of India Ltd., Mumbai /India. The term of charter is at least 35 month but can be up to 37 month. It´s fixed a time-charter rate of USD 22.000/ day.
Since 22 December 2004 it exits a charter agreement for the vessel MS »KING ADRIAN« with COSCO ContainerLines Ltd., Shanghai. The term of charter is at least five years with an option of another 45 days. It´s fixed a time-charter rate of USD 21.000/ day.
Shipping company of the MS »STADT ROSTOCK« is Thien & Hyenga Bereederungs- und Befrachtungsgesellschaft m.b.H., which was founded in 1977. The company head office is situated in Hamburg and they also have a Crewing Office in Leer.
The ship management of the MV »KING ADRIAN« is provided by V.Ships (Germany) GmbH & Co. KG. V.Ships is the world´s largest provider of ship management services to a fleet of over 900 vessels encompassing most ship types.
The Investment Advantages
- Modern full container ship of the so-called Sub-Panamax Class, "Made in Germany"
- Attractive pay-offs for Limited liability capital as of 2007 amounting to 7% p.a of the paid fund capital. All in all pay-offs are planned amounting to ca. 166,7% for the Limited liability capital(without sales) until 2023.
- Almost tax-free pay-offs for the investor Auszahlungen an den Anleger already in 2007
- Impressive growth of container traffic
Investment and Financing
| Investment and Financing of the »Twinfonds« I at a glance | ||
| Limited liability capital | EUR | |
| Investment incl. premium | 105,00 | |
| Surplus from the investment before tax | 121,66 | |
| Return on investment before tax and premium | 226,66 | |
Economic & Fiscal Facts and Figures
The fund offers participations in "Standard Equity" and "Prefered Equity". Distributions of approx. 166.7% for standard shareholders (without sale) are planned up to the end of 2023. For investors with preferrential shares, distributions of 6.5% p.a. are forecasted.
Declaration of accession
Investors can participate through the MS STADTROSTOCK Zweite T + H Schiffahrts GmbH + Co. KG and throught MS “KING ADRIAN“ Schiffahrtsgesellschaft mbH & Co.KG in the fund offer »Twinfonds« I. The minimum investment stake is € 15,000 plus 5% premium. Larger investments must be divisible by € 1,000.
| Payment date | 40% + 5% premium immediately sofort after demand for payment | 30% on April 01, 2007 | 30% on July 01, 2007 |
Data sheet
| MV »STADT ROSTOCK« | ||
| Vessel type | Sub-Panamax-Container ship | |
| Loading capacity | 2.741 TEU, whereby 1.111 TEU under deck and 1.630 above deck;2.115 TEU at a homogeneous loading of 14 tons per container | |
| Reefer container | 400 circuit points for reefer containers | |
| Deadweight capacity Design | 30.390 tdw | |
| Deadweight capacity Scantling | 37.570 tdw | |
| Surveying | gross: 28.400 BRZ (GT), Net: 14.300 NRZ (NT) | |
| Length over all | 221,62 m | |
| Breadth | 29,80 m | |
| Moulded depth | 16,40 m | |
| Draft Scantling | 11,40 m | |
| Draft Design | 10,10 m | |
| Speed | 22,00 kn | |
| Consumption | 86,6 t per day | |
| Classification | Germanischer Lloyd (GL) | |
| Class sign | + 100 A5 E CONTAINER SHIP, SOLAS II-2, Reg. 19, IW + MC E AUT | |
| Crew | 24 persons | |
| Shipyard | Aker Ostsee Werft GmbH, Wismar | |
| Flag | Antigua & Barbuda | |
| Registry port | Germany, Hamburg | |
| Registry | Maritime register Amtsgericht Hamburg | |
| Delivery | October 20, 2006 | |
| Construction number | 125 | |
| IMO Number | 932 0037 | |
| Main engine | Reversible „Slow Speed two stroke“ MAN-B&W diesel engine type 7L70MC - C (License construction); max. powerMCR 21.770 kW at 108 UpM (MCR) | |
| Operating range | 16.000 sea miles at the rate of 21,00 kn (draft 10,10 m) | |
| MV »KING ADRIAN« | ||
| Vessel type | Sub-Panamax-Container ship | |
| Loading capacity | 2.702 TEU, whereby 1.106 TEU under deck and 1.596 above deck;2.100 TEU at a homogeneous loading of 14 tons per container | |
| Reefer container | 400 circuit points for reefer containers | |
| Deadweight capacity Design | 30.250 tdw | |
| Deadweight capacity Scantling | 37.950 tdw | |
| Surveying | Gross: 27915 BRZ (GT), Net: 14.045 NRZ (NT) | |
| Lenght over all | 215,45 m | |
| Breadth | 29,80 m | |
| Moulded depth | 16,50 m | |
| Draft Scantling | 11,55 m | |
| Draft Design | 10,10 m | |
| Speed | 21,75 kn | |
| Consumption | 86,6 t per day | |
| Classification | Germanischer Lloyd (GL) | |
| Class sign | + 100 A5 E IW CONTAINER SHIP, SOLAS II-2, Reg. 19 NAV-OENVIRONMENTAL PASSPORT + MC E AUT | |
| Crew | 27 persons | |
| Shipyard | Nordseewerke GmbH, Emden | |
| Flag | Marshall Island | |
| Registry port | Germany, Emden | |
| Registry | Maritime register Amtsgericht Emden | |
| Delivery | December 22, 2004 | |
| Construction number | 546 | |
| IMO Number | 930 5001 | |
| Main engine | Reversible „Slow Speed two stroke“ MAN-B&W diesel enginetype 7L70MC - C (License construction); max. powerMCR 21.770 kW at 108 UpM (MCR) | |
| Operating range | 17.500 sea miles at the rate of 21,75 kn (draft 10,10 m) | |
Source and Application of funds
| Source of funds | USD | EUR | EUR | in % source of funds excl. premium | in % of llc | |
| Standard limited liability capital | ||||||
| Fund capital | 32.000.000 | |||||
| König & Cie. GmbH & Co. KG | 100.000 | |||||
| König & Cie. Treuhand GmbH | 20.000 | |||||
| König & Cie. Reederei GmbH & Co. KG | 50.000 | |||||
| Thien & Heyenga Bereederungs undBefrachtungsgesellschaft m.b.H. | 25.000 | |||||
| Kommanditgesellschaft Thien & Heyenga Holding GmhH + Co. | 25.000 | |||||
| Preferred limited liability capital | 5.000.000 | 37.220.000 | 41,19% | 100,00% | ||
| Debt | ||||||
| Mortgage loan | 34.500.000 | 24.570.000 | ||||
| Overdraft | 0 | 53.141.429 | 58,81% | 142,78% | ||
| Source of funds excl. premium | 34.500.000 | 61.790.000 | 90.361.429 | 100,00% | 242,78% | |
| Premium amounting to 5% of llc. | 1.861.000 | 1.861.000 | 5,00% | |||
| Source of funds total | ||||||
| Source of funds total | 92.222.429 | 247,78% | ||||
| Application of funds | ||||||
| Acquisition of the ships | ||||||
| MV »STADT ROSTOCK« | 37.500.000 | 37.500.000 | ||||
| MV »KING ADRIAN« | 52.100.000 | |||||
| 80.730.044 | 80.730.044 | 89,34% | 216,90% | |||
| Expenses referring to vessels | ||||||
| Preparing shipmanagement | 391.400 | 391.400 | 0,43% | 1,05% | ||
| Incorporation- and start-up expenses | ||||||
| Incorporation- and start-up expenses, monitoring application of funds | 701.870 | |||||
| Organisation controlling | 200.000 | |||||
| Trust fees | 99.900 | |||||
| Placement guarantee | 370.000 | |||||
| Financing placement | 680.000 | |||||
| Sales incidental costs | 240.000 | |||||
| Sales | 5.448.250 | 7.740.020 | 8,57% | |||
| Liquidity reserves | ||||||
| Liquidity reserves | 1.499.964 | 1.499.964 | 1,66% | 4,03% | ||
| Application of funds excl. premium | 52.100.000 | 47.131.385 | 90.361.429 | 100,00% | 242,78% | |
| Premium amounting to 5% of the llc. | 1.861.000 | 1.861.000 | 5,00% | |||
| Application of funds total | ||||||
| Application of funds total | 92.222.429 | 247,78% | ||||
Disclaimer
The plan calculations of this participation folder are based on the final contracts and agreements, essentially however on prognoses, those for their part are based on experiences and expectations. Different factors can affect the yield situation positively and negatively.
Relevant for a participation is only the full issuing prospectus with company contract, trust contract and the investment declaration. In the issuing prospectus, we point out especially the chapter dealing with possible risks.Of course, we can also send you the issuing prospectus by post.