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Tufton buys two vessels

Tufton buys two vessels – The Board of Tufton Oceanic Assets Limited has announced that the company has acquired two sub-Panamax containerships for $22.8 million.

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. The other ship will commence its charter to the same group after completing a few months of an existing charter.

The initial yield is in line with the targets expressed in the prospectus. These will be the third and fourth investments by the company. The company has now invested approximately 50% of the net IPO proceeds and expects to invest the remaining net proceeds within the time frame indicated at IPO.

SHIP : Tufton buys two vessels

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