Tufton Oceanic Assets continues to maximise its returns from the busy containership market with a sale that fetched more than double what the company paid for one of its ships in 2019.
The tenth divestment by the London-listed fund has seen the boxship Vicuna go to undisclosed buyers for $18m. Tufton acquired the vessel in October 2019 for $8.75m.
The sale follows a deal from earlier this month when the Guernsey-incorporated company flipped two boxships, cashing in more than $7m. The latest move, together with the previous divestments, is said to demonstrate the company’s commitment to capital re-allocation, targeting chemical and product tankers as well as bulkers.
In addition to landing a considerable profit, Tufton announced it had joined the Maersk Mc-Kinney Møller Center for Zero Carbon Shipping as a mission ambassador. The company has committed to transitioning to zero carbon energy sources by 2050 and investing in zero carbon capable vessels before 2030.