Tufton Oceanic Assets Limited (SHIP) has announced that it has acquired a Handysize Bulk Carrier for US$7.0m. This acquisition takes SHIP’s fleet to sixteen vessels, leaving it with approximately US$15m of cash available for investment. SHIP’s manager, Tufton Oceanic, continues to identify a pipeline of opportunities across a range of the company’s target sectors.
About the handysize bulk carrier
This latest purchase has a fixed rate time charter for six to eight months to a major agricultural commodity trading and logistics company. SHIP says that the yield during the charter is in line with its targets (as per its prospectus of 25 September 2018).