Tufton Oceanic Assets Ltd - London-based maritime assets investor - Will acquire two Handysize Bulkers for USD41.2 million in total. The vessels have fixed rate time charters for one year producing an annual net yield of 25%.
The vessels are being acquired using the proceeds from the Containership Citra sale and cash on hand.
Current stock price: USD1.35
Year-to-date change: up 46%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Tufton Oceanic. (SHIP)