UK’s fund management company Tufton Oceanic Assets Limited has agreed to acquire two product tankers.
The company is paying a total of USD 36 million for the duo, which will take its fleet to ten units.
Each vessel will have a time charter of two to three years to an undisclosed commodity trading and logistics company.
Tufton Oceanic said that the yield is in line with the targets expressed in the company’s C Share prospectus.
These will be the third and fourth investments made from the C Share proceeds announced on October 11, 2018. The company has invested around 75% of the C Share net proceeds.