9th Nov 2020 14:27
(Alliance News) - Tufton Oceanic Assets on Monday said it has inked an agreement to sell one of its Suezmax Tankers for USD19.0 million, reducing its fleet to eighteen vessels.
The maritime assets investor noted the sale will be its second divestment, adding that it expects to redistribute the proceeds over the next few months.
"Whilst the company aims to hold its investments over the longer term, we will sell investments where this generates additional value for shareholders," Tufton Oceanic added.
The stock was trading 0.7% higher at USD0.89 each on Monday afternoon in London.
By Ife Taiwo; [email protected]
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