Tufton Oceanic Expands Fleet with Another Containership

ContainershipIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Fund management firm Tufton Oceanic Assets Limited has reached an agreement to acquire another containership.

The company would pay USD 13 million for the vessel, which will have a time charter of two years to an undisclosed private operator of containerships specialising in fresh fruit transport.

Tufton Oceanic said that the yield is in line with the targets expressed in the company’s C Share prospectus.

This is the second investment made from the C Share proceeds announced on October 11, 2018. The acquisition will take the company’s fleet to eight vessels, five of which are containerships below 3000-TEU capacity.

Tufton Oceanic also recently employed one of its handysize bulkers on a time charter of around one year, and therefore it currently has no spot market exposure.

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