Attractive Fixed-Rate Charters with Strong Yields
Updated : 07:01
03 October 2024
Tufton Oceanic Assets Limited ("SHIP" or the "Company")
Attractive fixed-rate charters with strong yields on two Chemical Tankers
The Company announces that it has agreed for its two Chemical Tankers, Orson and Golding, to commence up to three-year time charters to a leading operator of Chemical Tankers securing a minimum of c.$25m of EBITDA for SHIP. The time charters will have a fixed rate for two years yielding c.20% return and a floor/ceiling rate structure for the third year.
These charters provide strong visibility on operating cashflows and increase the portfolio charter length.
For further information, please contact:
Tufton Investment Management Limited ("Investment Manager" or "Tufton") Andrew Hampson Nicolas Tirogalas | +44 (0) 20 7518 6700 |
|
|
Singer Capital Markets James Maxwell, Alex Bond, Jalini Kalaravy (Corporate Finance) Alan Geeves, James Waterlow, Sam Greatrex (Sales) | +44 (0) 20 7496 3000 |
Hudnall Capital LLP Andrew Cade | +44 (0) 20 7520 9085 |
About the Company
Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the objective of delivering strong cash flow and capital gains to investors. The Company's investment manager is Tufton Investment Management Ltd. The Company has raised a total of approximately $316.5m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange on 20 December 2017 and subsequent capital raises.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.