Tufton Oceanic Assets Ltd - Guernsey, UK-based investment company focused on second-hand commercial vessels - Announces divestment of Handysize Bulker Lavender for USD17.7 million, with a realised net internal rate of return at 50%.
Also sells Containership Parrot for USD31.0 million, on the grounds of expectations that the ship will underperform in an inflationary environment.
Finally, acquires one Handysize Bulker for USD26.3 million, with a fixed rate time charter of four to six months producing a net yield of 27%.
Current stock price: USD1.32
12-month change: up 23%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Tufton Oceanic. (SHIP)