Tufton Oceanic Assets has acquired two product tankers for a total of $23m, taking its fleet to eighteen vessels.
VesselsValue identifies the pair as 2008-built handysizes Ridgebury Colette B and Ridgebury Elvia B, sold by US tanker owner Ridgebury Tankers.
Tufton Oceanic says both vessels have fixed rate time charters for three to five years to a major commodity trading and logistics company.
At the same time as the acquisition, Tufton Oceanic has completed a debt financing of $24m, which it expects to repay within three years.