LONDON, UK: The Board of Tufton Oceanic Assets Limited announced that the Company has acquired a Handysize Bulk Carrier for $7.0 million.

The vessel has a fixed rate time charter for six to eight months to a major agricultural commodity trading and logistics company. The yield during the charter is in line with the targets expressed in the Company’s prospectus dated 25 September 2018.

This acquisition takes the Company’s fleet to sixteen vessels. SHIP currently has approximately $15m of investible cash.

Tufton Oceanic Ltd, the Investment Manager, continues to identify an attractive pipeline of opportunities across a range of the Company’s target sectors.