Tufton Oceanic

London Stock Exchange-listed shipping fund Tufton Oceanic Assets’ NAV (Net Asset Value) increased in Q3 2020 due to flourishing container businesses. Shipping fund Tufton Oceanic Assets is backed by Tufton Investment Management. Tufton Oceanic Assets reported a calculated unaudited NAV (Net Asset Value) of $0.95 per share in Q3 2020. In June 2020, Tufton Oceanic Assets reported NAV (Net Asset Value) of $0.93 per share. Total NAV (Net Asset Value) improved due to the containership business. Tufton Oceanic Assets reported an operating profit of $0.023 per share in Q3 2020. Furthermore, Tufton Oceanic Assets extended charter out of a containership till the end of 2021. At the beginning of October 2020, Tufton Oceanic Assets acquired two (2) product tankers for around $23 million. Newly acquired two (2) product tankers chartered out to a gigantic trader. Currently, Tufton Oceanic Assets has a fleet of 18 vessels. 5-October-2020

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets reported an operating profit of $0.029 per share in Q1 2020. Tufton Oceanic Assets operating profit in Q1 2020 was offset by a net fair value loss of $0.035 per share in Q1 2020. Tufton Oceanic Assets Fair value losses related to containerships and bulkers were partly offset by gains for tankers. The estimated net asset value (NAV) of Tufton Oceanic Assets was $0.969 per share in 2020, compared to $0.992 per share at the end of 2019. On 21 February 2020, Tufton Oceanic Assets paid dividends. Including the dividend of $0.0175 per share paid, Tufton Oceanic Assets net asset value (NAV) total return was a -0.6% for Q1 2020. Tufton Oceanic Assets grateful that its project of portfolio diversification and strong time charter coverage continues to insulate Tufton Oceanic Assets from the present shipping market volatility triggered basically by the coronavirus recession. In March 2020, Tufton Oceanic Assets acquired a handy bulk carrier for $7 million with an eight (8) month time charter attached. The latest bulk carrier acquisition increased Tufton Oceanic Assets’ fleet to 16 vessels. In March 2020, Tufton Oceanic Assets also acquired a tanker and sold three (3) bulk carriers. Tufton Oceanic Assets’ fleet average charter length is about three (3) years and Tufton Oceanic Assets expects minimal or no void time between charters. Tufton Oceanic Assets is looking for new opportunities to invest and the company expects that coronavirus recession will bring distressed opportunities in the near future. 10-April-2020

 

UK based shipowner and asset player Tufton Oceanic Assets acquired a handysize dry bulk carrier for $12.9 million. Handysize dry bulk carrier is financed with wash from Initial Public Offering (IPO). Handysize dry bulk carriers will be chartered out to a reputable ship operator. UK based shipowner and asset player Tufton Oceanic Assets has not revealed the name of the handysize bulk carrier. The mentioned ship has already been chartered out for 2.5 years. Since December 2017, UK based shipowner and asset player Tufton Oceanic Assets has acquired 7 ships with the $91 million. Tufton Oceanic Assets will be offering shares to raise money for more growth. Tufton Oceanic Assets is not considering to invest in capesize dry bulk carriers, Very Large Gas Carriers (VLGC), and big tanker sectors. 19-December-2018

 

Private Equity company Tufton Oceanic sold 1997 built handy bulk carrier 23K DWT MV UBC Boston for further trading to a Greek buyer for $2.35 million. 12-August-2016