Tufton Oceanic Assets Ltd. New Bulker Investment and Containership Charter (5061V)
15 April 2021 - 4:00PM
UK Regulatory
TIDMSHIP
RNS Number : 5061V
Tufton Oceanic Assets Ltd.
15 April 2021
15 April 2021
Tufton Oceanic Assets Limited (The "Company")
$14.3m Investment in one Handysize Bulk Carrier
and new charter for the Containership Swordfish
The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is
pleased to announce that:
(i) the Company has acquired a Handysize Bulk Carrier for
$14.3m. This acquisition takes the Company's fleet to twenty-two
vessels. The vessel has a fixed rate time charter for eleven to
thirteen months to a large maritime transport and logistics
company. The yield during the charter exceeds the targets expressed
in the Company's prospectus dated 25 September 2018.
This investment is funded from the tap issue proceeds announced
on 25 March 2021.
(ii) the Company has successfully renewed the employment for the
Containership Swordfish with a fixed rate time charter for fifteen
to seventeen months from the end of May 2021 at a yield
substantially higher than the containership run rate yield of 14.7%
reported in the 4Q20 Fact Sheet.
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 $265m (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, a
placing in September 2019 and a tap issue in March 2021.
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END
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