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Tufton Oceanic to buy another tanker after offloading bulker pair

Tufton Oceanic Assets has agreed to sell two handysize bulk carriers for $20.5m, making this the company’s third divestment.

The company said it expects to redeploy the proceeds promptly and invest in a tanker with similar economics to the vessel Golding acquired earlier this year at 70% of depreciated replacement cost.

The vessels were acquired for less than 70% of depreciated replacement cost in 2018 and early 2020, Tufton Oceanic said.

In January this year, Tufton Oceanic acquired a stainless steel chemical tanker for $15.2m, and also recently added a handysize bulker for $14.3m.

Including the latest deal, Tufton Oceanic fleet stands at twenty vessels with two bulkers remaining and one to be delivered.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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