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Tufton Oceanic Assets Ltd - Guernsey, UK-based investment company focused on second-hand commercial vessels - Clarifies that none of its vessels has "in any way been impacted" by Russian invasion of Ukraine. Says vessels are operating in full compliance with applicable international sanctions and in accordance with their charters, all of which remain in full force and effect.
"All our charters give the company the right to prohibit our vessels entering high-risk areas, which we will exercise as a matter of policy. Company has substantial charter coverage. As shipping tends to perform well in periods of inflation, charter-free values are up year-to-date for the company's primary exposures of handy bulkers, handy product tankers and containerships," it says.
Current stock price: USD1.20
12-month change: up 23%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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