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Tufton Oceanic Assets Limited buys two containerships

Tufton Oceanic Assets Limited buys two containerships- Tufton Oceanic Assets Limited has acquired two containerships for US$13 million. The first containership is designed to haul fresh fruit all over the globe and the second ship is an LPG Carrier that they bought a 75% stake on 25 July 2018. Tufton purchased the remaining 25% stake for US$7.25 million. These two investments were funded by the money they gained from their C share issue on 11 October 2018.

The first ship is being lent on a two year charter to a leading private operator of containerships in the fresh fruit transportation sector. The yield is in line with the Tufton’s yield targets expressed in the their C share prospectus. This is their second investment from their C share proceeds announced on 11 October 2018.  The second ship is now fully owned by Tufton after they purchased the remaining interest that was held by the bareboat charterer on 23 October 2018. The ship recently started a seven year bareboat charter to a leading gas shipping operator on 1 August 2018.

C Share Issue

The C share issue on 11 October 2018 raised US$78,400,000. The C shares trade under the ticker on SHPC on the London stock exchange.

 

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