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…
LONDON: The Board of Tufton Oceanic Assets Limited (LON: SHIP) has agreed to divest two Handysize Bulk Carriers for $20.5 million, a news release said. The realised IRR materially exceeds the targets expressed in the Company’s prospectus dated 25 September 2018. This will be the Company’s third divestment. Whilst the Company aims to hold its…
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…