Tufton Oceanic acquires two general cargo ships

Tufton Oceanic acquires two general cargo ships

London-listed Tufton Oceanic Assets has made its second acquisition of the year, agreeing a deal to acquire two general cargo vessels for a total of $13.15m. 
 
The investment comes from the proceeds of a $50m placement last month, and grows the company’s fleet to fourteen vessels.

Tufton Oceanic says the vessels will be bareboat chartered to a leading general cargo shipping operator for an average tenor of 5.5 years. 

 
The company’s last acquisition was also a general cargo vessel, having agreed a $6.75m deal in February.
Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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