Tufton Assets net asset value climbs as notes influential geopolitics

(Alliance News) - Tufton Assets Ltd on Wednesday announced a higher net asset value per share as it noted that the ongoing war between the US-Israel and Iran was "very influential".

The investment firm focuses on secondhand commercial sea vessels said net asset value per share was USD1.39 as at December 31, up 5.6% from USD1.32 each on June 30.

NAV total return per share was 9.5% in the six months to December 31 compared to 6% a year ago.

Looking ahead, the company said: "While geopolitics continue to be very influential in the shipping markets, we remain cautiously optimistic about the outlook of our markets both in the near and mid-term. The reconfiguration of traditional trade routes due to conflicts, sanctions and tariff changes added significantly to tonne-mile shipping demand. The majority of the company's NAV is held in two segments: product tankers and bulkers. Within both these segments, capital values and rates rose during the financial period."

It added: "On 28 February 2026, the US and Israel commenced aerial military operations in Iran. The Iranian retaliation was broad in scope, targeting US military bases and installations, energy infrastructure, and ports across the Middle East. As of 10 March 2026, none of the company's vessels were trading in the Persian Gulf or the Gulf of Oman. The investment manager has requested the charterers of the company's vessels to avoid trading the company's vessels in the conflict zones."

Tufton assets shares rose 1.4% to 90.07 pence each on Wednesday afternoon in London.

By Tom Budszus, Alliance News slot editor

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