LONDON: The Board of Tufton Oceanic Assets Limited announced that the Company has agreed to acquire a Containership for $8.75 million.
This acquisition will take the Company’s fleet to seventeen vessels.
The vessel is time chartered to part of a major, investment grade, container shipping group for at least three years. The forecasted yield exceeds the targets expressed in the Company’s prospectus dated 25 September 2018.
This is the first investment funded entirely from the proceeds of the placing announced on 20 September 2019.
Tufton Oceanic Ltd, the Investment Manager, continues to identify an attractive pipeline of opportunities across a range of the Company’s target sectors.
Edited by Nayyar Iqbal