(Alliance News) - Tufton Oceanic Assets Ltd on Monday said it has sold three of its general cargo vessels for a total amount of USD19.3 million.
The shipping company said the the proceeds realised from the sale will be used over the next few months to invest in a pipeline of opportunities across a range of sectors. It added that the yield and internal rate of return realised exceeds its target of 12% set in September 2018.
Following the sale of the vessels, the Guernsey-based company has 14 vessels in its fleet.
The stock was flat at 1.06 pence each at midday Monday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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