Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

New Bulker Investment and Containership Charter

15th Apr 2021 07:00

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.

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
 
 
ACQMZGMDVDMGMZM

Related Shares:

Tufton Assets.
FTSE 100 Latest
Value8,632.33
Change89.77