Tufton Oceanic Asset - Portfolio and Market Update

Tufton Assets

10/03/2022 07:00

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RNS Number : 2628E  Tufton Oceanic Assets Ltd.  10 March 2022

10 March 2022

 

Tufton Oceanic Assets Limited (The "Company")

 

Portfolio and Market Update

 

In response to potential general market concerns regarding the Russian
invasion of Ukraine, the Company wishes to clarify that none of our vessels
has in any way been impacted by these very sad events. The Company and
Investment Manager are deeply concerned about the Ukrainian people including
those working on our vessels.

 

All our vessels are operating in full compliance with applicable international
sanctions and in accordance with their charters, all of which remain in full
force and effect. All our charters give the Company the right to prohibit our
vessels entering high-risk areas, which we will exercise as a matter of
policy.

 

The Company has substantial charter coverage. As shipping tends to perform
well in periods of inflation, charter-free values are up year-to-date for the
Company's primary exposures of handy bulkers, handy product tankers and
containerships.

 

 

 

 

For further information, please contact:

 

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

 Andrew Hampson

 Paulo Almeida

 Singer Capital Markets                                           +44 (0) 20 7496 3000

 James Maxwell, Alex Bond (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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