LONDON, UK: The Board of Tufton Oceanic Assets Limited announced the Company has agreed to acquire a Product Tanker for $31.5 million. The Product Tanker, Marvelous, is being acquired at approximately 90% of depreciated replacement cost. Initially the vessel will be employed in a leading product tanker pool where current net unlevered yield is in…
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Tufton Oceanic buys a Product Tanker and a Handysize Bulker
OSLO, NORWAY: The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is pleased to announce that the Company has agreed to acquire a Product Tanker for $30.9m and a Handysize Bulker for $23.6m. The Product Tanker is being acquired at approximately 85% of depreciated replacement cost (“DRC”). It has a fixed rate time charter of…