23 November 2018
Tufton Oceanic Assets Limited (the "Company")
$13m Investment in a Containership
The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is pleased to announce that the Company has agreed to acquire a containership for $13m.
The vessel will have a time charter of two years to a leading private operator of containerships specialising in fresh fruit transport. The yield is in line with the targets expressed in the Company's C Share prospectus.
This is the second investment made from the C Share proceeds announced on 11 October 2018. This acquisition will take the Company's fleet to eight vessels, five of which are containerships all below 3000-TEU capacity.
The Company also recently employed one of its handysize bulkers on a time charter of approximately one year, and therefore the Company currently has no spot market exposure.
Tufton Oceanic Limited, 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 Oceanic Limited Tel: +44 (0) 20 7518 6700
Andrew Hampson
Paulo Almeida
N+1 Singer Tel: +44 (0) 207 496 3030
James Maxwell, Alex Bond (Corporate Finance)
Alan Geeves, James Waterlow, Sam Greatrex (Sales)
Hudnall Capital LLP Tel: +44 (0) 20 7520 9085
Andrew Cade
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 Oceanic Limited. The Company was admitted to the Specialist Fund Segment of the London Stock Exchange on 20 December 2017.
