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Tufton Oceanic Assets Ltd - London-based maritime assets investor - Says it has agreed to sell the Handysize Bulker Dragon carrier for USD16.2 million. The vessel is, taking its charter into account, being sold for 119% of depreciated replacement cost. It was acquired for 74% of DRC in 2018.
"This sale, together with the Handy Bulker investments announced last month, demonstrate the company's commitment to ESG and capital re-allocation. The latter is increasingly relevant given absolute and relative movements across and within the main shipping markets since the third-quarter," it adds.
Current stock price: USD1.37
Year-to-date change: up 47%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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