Register Log-in Investor Type


Tufton Oceanic bulks up fleet with $19.9m crude oil vessel

Tufton Oceanic bulks up fleet with $19.9m crude oil vessel – Tufton Oceanic Assets (SHIP) has announced it has agreed to acquire a crude oil tanker for $19.9m. This acquisition will take the company’s fleet to sixteen vessels.

The vessel is time chartered to a major tanker operator for two years at a fixed floor rate plus a profit-sharing mechanism. The forecasted yield exceeds the targets expressed in the company’s prospectus dated 25 September 2018.

About SHIP

SHIP 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 Oceanic Ltd. The company has raised a total of approximately $219m (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.

SHIP: Tufton Oceanic bulks up fleet with $19.9m crude oil vessel

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…