Tufton flips pair of boxships for $7.2m profit

Tufton Oceanic Assets has flipped two more containerships for a considerable profit. The London-listed firm has offloaded Candy and Echidna for a total of $21m, cashing in more than $7m from the deal.

The ships were acquired in January 2021 for $13.75m, soon after the company’s divestment of the suezmax tanker Bear

The sale of the boxship pair comes on the heels of the company’s four vessel exits from this sector in the previous year. Most recently, Tufton flipped one of its boxships for an $8.3m profit.

The move will be Tufton’s ninth divestment, and the company said it expects to redeploy the proceeds promptly, with eyes set on chemical or product tankers as well as bulkers.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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