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.
