Tufton Oceanic eyes ‘attractive pipeline’ of secondhand vessels

Tufton Oceanic eyes ‘attractive pipeline’ of secondhand vessels

Citing the competitively priced S&P scene, London-listed Tufton Oceanic has today outlined a cash raising exercise to expand its fleet.

The maritime and energy fund management firm is conducting a placing of new ordinary shares at $1.01, a 2.3% premium to the current NAV.

In a release, Tufton Oceanic said that it “continues to identify an attractive pipeline of secondhand vessels”.

The ships it is eyeing are across a range of sectors, while it stressed it would continue its emphasis on medium to long term time and bareboat charter strategies.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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