EuropeFinance and InsuranceTankers

Tufton Oceanic grows fleet to 20 with chemical tanker buy

Tufton Oceanic Assets has grown its fleet to 20 ships with the acquisition of a stainless steel chemical tanker for $15.2m.

Tufton says it will employ the vessel in a leading chemical tanker pool where it will earn a monthly floating charter rate based on the performance of the pool of vessels overall. The company says the pool has significant contract coverage, and its exposure to the spot market will be around 5% of NAV.

Last week, Tufton Oceanic unveiled a corporate reorganisation which saw its business split in two and management acquire a substantially increased stake in the business.

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.
Back to top button