Tufton Oceanic Assets Ltd. $15.2m Investment in a Chemical Tanker (1485L)
11 January 2021 - 6:00PM
UK Regulatory
TIDMSHIP
RNS Number : 1485L
Tufton Oceanic Assets Ltd.
11 January 2021
11 January 2021
Tufton Oceanic Assets Limited (The "Company")
$15.2m Investment in a Chemical Tanker
The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is
pleased to announce that the Company has acquired a stainless steel
Chemical Tanker for $15.2m. This acquisition takes the Company's
fleet to twenty vessels.
The vessel will be employed in a leading chemical tanker pool
where it will earn a monthly floating charter rate based on the
performance of the pool of vessels overall, but where the pool has
significant contract coverage. The Company's exposure to the spot
market therefore will be approximately 5% of NAV.
The expected yield from the pool exceeds the targets expressed
in the Company's prospectus dated 25 September 2018.
Tufton Investment Management Ltd, the Investment Manager,
continues to identify an attractive pipeline of opportunities
across a range of the Company's target sectors.
For further information, please contact:
Tufton Investment Management Ltd (Investment
Manager)
Andrew Hampson
Paulo Almeida +44 (0) 20 7518 6700
N+1 Singer
James Maxwell, Alex Bond (Corporate Finance)
Alan Geeves, James Waterlow, Sam Greatrex
(Sales) +44 (0) 20 7496 3000
Hudnall Capital LLP
Andrew Cade +44 (0) 20 7520 9085
About the Company
Tufton Oceanic Assets Limited 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 Investment Management Ltd.
The Company has raised a total of approximately $250m (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 .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQUPUBUGUPGGRR
(END) Dow Jones Newswires
January 11, 2021 02:00 ET (07:00 GMT)
Tufton Oceanic Assets (LSE:SHIP)
Historical Stock Chart
From Apr 2024 to May 2024
Tufton Oceanic Assets (LSE:SHIP)
Historical Stock Chart
From May 2023 to May 2024