OSLO, NORWAY: The Board of Tufton Oceanic Assets Limited has agreed to purchase a Handysize Bulker for $25.5 million.
It is being acquired barely above DRC however the strong money flows from its constitution will considerably de-risk the investment. The vessel has a fixed rate time constitution of 9 to 12 months producing a net yield of 25%. It is within the highest quartile of fuel effectivity in its market segment. Nonetheless it will be evaluated for additional improvement, collectively with the retrofit of energy saving devices.
This transaction, along with the others introduced since late 2020, demonstrate the Company’s dedication to capital re-allocation and ESG.
The Investment Manager continues to identify an attractive pipeline of alternatives throughout a vary of the Company’s goal sectors. Prospective investments include chemical and product tankers in addition to bulkers. The Company will announce a additional replace in due course.
Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the goal of delivering strong money flow and capital gains to investors. The Company’s funding supervisor is Tufton Investment Management Ltd. The Company has raised a complete of roughly $316.5m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange on 20 December 2017 and subsequent capital raises.
www.tuftonoceanic.com