Tufton Oceanic Buys Containership Duo

Fund management firm Tufton Oceanic Assets Limited has purchased two sub-Panamax containerships for a price of USD 22.8 million.

The company informed that the vessels will have charters of at least two years and three years, respectively.

One ship is chartered to part of a major investment grade container shipping group, while the second vessel will commence its charter to the same group after completing a few months of an existing charter.

Tufton Oceanic said that the initial yield is in line with its targets. The units will be the company’s third and fourth investments.

The London Stock Exchange-listed fund, which was admitted to the Specialist Fund Segment of the stock exchange in December 2017, has invested around 50% of the net IPO proceeds and expects to invest the remaining net proceeds within the time frame indicated at IPO.

Tufton Oceanic intends to invest in a diversified portfolio of secondhand commercial sea-going vessels delivering strong cash flow and capital gains to investors.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

CWC World LNG & Gas Series: 10th Asia Pacific Summit

Bringing together the key LNG buyers and sellers from across the globe, the Summit provides…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Defence Safety Conference Supported by The Defence Safety Authority, UK MoD

The Defence Safety Conference is the first of its kind exclusively dedicated to safety across the defence domain…

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >