LONDON: The Board of Tufton Oceanic Assets Limited announced that the Company has acquired a Handysize Bulk Carrier for $10.6 million. This acquisition takes the Company’s fleet to nineteen vessels.
The vessel has a fixed rate time charter for ten to thirteen months to a large maritime transport and logistics company. The yield during the charter is in line with the targets expressed in the Company’s prospectus dated 25 September 2018.
Tufton Investment Management Ltd, the Investment Manager, continues to identify an attractive pipeline of opportunities across a range of the Company’s target sectors.
Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the objective of delivering strong cash flow and capital gains to investors. The Company’s investment manager is Tufton Investment Management Ltd.
The Company has raised a total of approximately $250m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange, on 20 December 2017, a subsequent placing and offer in October 2018, a placing in March 2019 and a placing in September 2019.