Tufton Oceanic Assets grows fleet to 18 with addition of product tanker pair

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.

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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