REG - Tufton Oceanic Asset Tufton Oceanic -SHPP - Attractive Fixed-Rate Charters with Strong Yields

Tufton AssetsAnnouncement

03/10/2024 07:00

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RNS Number : 7360G  Tufton Oceanic Assets Ltd.  03 October 2024

03 October 2024

Tufton Oceanic Assets Limited ("SHIP" or the "Company")

Attractive fixed-rate charters with strong yields on two Chemical Tankers

The Company announces that it has agreed for its two Chemical Tankers, Orson
and Golding, to commence up to three-year time charters to a leading operator
of Chemical Tankers securing a minimum of c.$25m of EBITDA for SHIP. The time
charters will have a fixed rate for two years yielding c.20% return and a
floor/ceiling rate structure for the third year.

These charters provide strong visibility on operating cashflows and increase
the portfolio charter length.

 

For further information, please contact:

 Tufton Investment Management Limited ("Investment Manager" or "Tufton")                               +44 (0) 20 7518 6700

 Andrew Hampson

 Nicolas Tirogalas

 Singer Capital Markets                                                                                +44 (0) 20 7496 3000

 James Maxwell, Alex Bond, Jalini Kalaravy (Corporate Finance)

 Alan Geeves, James Waterlow, Sam Greatrex (Sales)
 Hudnall Capital LLP                                                                                   +44 (0) 20 7520 9085

 Andrew Cade

About the Company

Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand
commercial sea-going vessels with the objective of delivering strong cash flow
and capital gains to investors. The Company's investment manager is Tufton
Investment Management Ltd. The Company has raised a total of approximately
$316.5m (gross) through its Initial Public Offering on the Specialist Fund
Segment of the London Stock Exchange on 20 December 2017 and subsequent
capital raises.

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