Tufton Oceanic

Tufton Oceanic Assets Limited (TOAL), listed on the London Stock Exchange, is preparing to distribute a significant sum to its shareholders following a surge in profits. A special dividend could result in the disbursement of 10% of Tufton Oceanic Assets Limited’s (TOAL) net asset value to shareholders. Andrew Hampson serves as the CEO of Tufton Investment Management, the holding company for Tufton Oceanic Assets Limited (TOAL). After recording robust financial results for the latter part of 2023, Tufton Oceanic Assets Limited (TOAL) is planning a substantial special payment to its shareholders. The company, which owns a diverse fleet including 10 product tankers, 9 bulk carriers, 2 chemical tankers, and an LPG carrier, reported net earnings of $37.3 million for the six months ending December 31, 2023. Tufton Oceanic Assets Limited (TOAL) announced a total revenue of $60.8 million for the year 2023. 25-March-2024

 

Nicolas Tirogalas, the chief investment officer at Tufton Investment Management, alongside Andrew Hampson, the firm’s chief executive, have significantly increased their stakes in the London-listed shipowning fund, Tufton Oceanic Assets. By collectively acquiring 250,064 shares, they have contributed to the insider ownership boost with an investment of $270,000. This move underscores their confidence in the fund’s future prospects, bringing the total shares held by Tufton Oceanic Assets’ insiders—encompassing principal investors, staff, non-executive directors, and former shareholders—to an impressive 11.94 million. This strategic investment by Tufton Oceanic Assets’ top executives reflects a strong belief in the fund’s value and potential for growth, signaling a positive outlook to the market. 2-February-2024

 

Tufton Oceanic Assets is gearing up for a strategic shift in its operations by the end of the decade, but in the near term, it plans to focus on fleet renewal through the acquisition of secondhand ships. The London-listed shipowning fund, Tufton Oceanic, has experienced robust performance since its initial public offering (IPO) in 2017. This success has been achieved in line with its original objectives, even in the face of challenges such as the COVID-19 pandemic, geopolitical events, and the impact of inflation. As part of its near-term strategy, Tufton Oceanic Assets intends to acquire fuel-efficient vessels to renew its fleet. However, the company is signaling a significant shift in its strategy towards the end of the decade, reflecting its proactive response to the evolving dynamics and sustainability requirements within the maritime industry. 17-January-2024

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) is exploring the possibility of selling its vessels by the end of the decade as the shipping industry shifts toward decarbonization. The London-listed fund, managed by Tufton Investment Management, has been contemplating its near-term future in light of these changes. It intends to begin divesting its portfolio of vessel assets starting in 2028, concluding towards the end of the decade. While Tufton Oceanic Assets may be dissolved, there are plans for a new Tufton-backed venture to take its place. This potential transition reflects Tufton’s strategic response to the evolving landscape of the shipping industry, which is increasingly focused on low-carbon and sustainable shipping solutions. 16-January-2024

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited’s (TOAL) recent experiment attests that the rotor sail can diminish fuel consumption by 10% on a kamsarmax bulk carrier. Tufton Oceanic Assets Limited (TOAL) is a United Kingdom-based shipping fund that owns a mixed fleet of vessels. Tufton Oceanic Assets Limited (TOAL) is poised to curtail fuel usage by a tenth on one of its distinguished bulk carriers, harnessing the force of the wind. The installation of the innovative rotor sails on the 2017 built kamsarmax bulk carrier 82K DWT MV TR Lady reached fruition at Chengxi Shipyard in China this past June. 21-August-2023

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) insiders seize additional stock in the publicly traded company based in London. Principals, employees, and previous investors obtained over 1 million shares in the shipping investment fund Tufton Oceanic Assets Limited (TOAL) during the previous week. Shareholders of Tufton Group consistently increase their ownership in Tufton Oceanic Assets Limited (TOAL), a shipping fund listed on the London stock exchange. According to a disclosure filed with the London stock exchange, unidentified principals of Tufton Investment Management (TIM), the investment manager, procured 593,136 ordinary shares on 22 June 2023. These particular Tufton shareholders currently possess 6.97 million shares, which represents more than 2% of the Tufton Oceanic Assets Limited’s (TOAL) total. Furthermore, individuals employed by Tufton Group, directors of Tufton Group, and former shareholders of Tufton Group purchased an additional 509,052 shares on the same date. London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) is predicting better bulk carrier freight rates from the H2 2023, assisted by the easing of pandemic related restrictions in China and low ship supply. 28-June-2023

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) is anticipating more increases in secondhand tanker and bulk carrier prices in 2023. Tufton Oceanic Assets Limited (TOAL) is bullish on both tanker and bulk shipping markets following a robust 2022. Tufton Investment Management CIO (Chief Investment Officer) Paulo Almeida acknowledges there is additional upside to asset values due to limited shipyard capacity for new ship deliveries and tighter environmental regulations which increase newbuild ship prices. London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) is predicting better bulk carrier freight rates from the H2 2023, assisted by the easing of pandemic related restrictions in China and low ship supply. 17-March-2023

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) has raised the company’s annual dividend target from $0.080 to $0.085 per share, beginning in Q4 2022. Tufton Oceanic Assets Limited (TOAL) is motivated by strong cash flows from increased charter cover, diversification, and continued supply-side recovery.
Tufton Oceanic Assets Limited (TOAL) is a United Kingdom-based shipping fund that owns a mixed fleet of vessels. Tufton Oceanic Assets Limited (TOAL) has increased the dividend target in stronger clean tanker markets. Tufton Oceanic Assets Limited (TOAL) considers tanker sector strength will be magnified by European Union ban on Russian oil. 20-October-2022

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) acquired a handysize bulk carrier for around $25 million. Tufton Oceanic Assets Limited (TOAL) is a United Kingdom-based shipping fund that owns a mixed fleet of vessels. Tufton Oceanic Assets Limited (TOAL) has resumed buying bulk carriers after a string of containership sales in 2022. Tufton Oceanic Assets Limited (TOAL) acquired the handysize bulk carrier with a fixed-rate time charter for a year. Robust cash flows from its time charter will greatly de-risk the handysize bulk carrier investment. Tufton Oceanic Assets Limited (TOAL) is dedicated to funds re-allocation to shipping. Tufton Oceanic Assets Limited (TOAL) aims to acquire more ships and examine attractive opportunities. Currently, the London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) has a mixed fleet of 23 vessels. 20-March-2022

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited’s (TOAL) 5.5% stake is acquired by Boston-based Fidelity. Tufton Oceanic Assets Limited (TOAL) is a United Kingdom-based shipping fund that owns a mixed fleet of vessels. Currently, the market capitalization of Tufton Oceanic Assets Limited (TOAL) is around $429 million. Previously, Boston-based Fidelity did not have a stake in Tufton Oceanic Assets Limited (TOAL). Tufton Oceanic Assets Limited (TOAL) assumes investors are particularly attracted to the company’s strong portfolio and dedication to re-allocating resources within shipping as businesses grow. Numerous large investors are backing Tufton Oceanic Assets Limited (TOAL) at the same time the drop in the BDI (Baltic Dry Index). In August 2021, institutional investor Fidelity invested $207 million in Star Bulk Carriers. Currently, Boston-based Fidelity holds a 10% stake in Star Bulk Carriers. In July 2021, institutional investor Fidelity acquired a 12% stake in Genco Shipping & Trading. Furthermore, Boston-based Fidelity invested in Golden Ocean Group and Eagle Bulk Shipping. 21-November-2021

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) sold an unnamed handysize bulk carrier for around $16 million. Tufton Oceanic Assets Limited (TOAL) announced the price for the handysize bulk carrier bought in 2018 represents 119% of its depreciated replacement cost, taking the bulk carrier’s charter into account. Tufton Oceanic Assets Limited (TOAL) is committed to the ESG (Environment, Social, and Governance). After the sale of the handysize bulk carrier, Tufton Oceanic Assets Limited (TOAL) is left with six (6) bulk carriers. In September 2021, Tufton Oceanic Assets Limited (TOAL) acquired handysize bulk carrier 36K DWT MV New History and 36K DWT MV New Inspiration for around a total of $41 million. 19-October-2021

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) is channeling proceeds from recent sales into expanding its fleet with the acquisition of two handysize bulkers. The total investment for these ships, which remain unnamed, amounts to $41.2 million. The London-listed company highlights that these vessels are being purchased at a value below their depreciated replacement cost and are considered fuel-efficient compared to similar ships in their category. These handysize bulk carriers come with fixed-rate time charters for one year, expected to yield an annual net return of 25%. Plans are in place to dry-dock these ships once the charter agreements conclude, during which time energy-saving devices will be installed to enhance fuel efficiency. Such retrofits are anticipated to improve fuel efficiency by approximately 10% and increase the internal rate of return to over 15%. These energy-saving measures are part of a broader initiative, with TTufton Oceanic Assets Limited (TOAL) intending to equip more of its fleet with unspecified energy-saving devices throughout 2022. The funding for these acquisitions stems from the sale of a large feeder containership in July and existing cash reserves. The sold vessel, identified by shipbrokers as the 2,602 TEU MV Cosmos (built in 2006), was purchased by Mediterranean Shipping Co for $33 million. Following a successful oversubscribed tap issue of shares in August, which raised $12.4 million, Tufton Oceanic Assets Limited (TOAL) is now fully reinvested. This recent financial maneuver saw the sale of all 10.53 million shares authorized by shareholders last year. The acquisition of these bulkers underscores Tufton Oceanic Assets’ dedication to environmental, social, and corporate governance (ESG) principles and strategic capital reallocation, reinforcing the company’s commitment to sustainable and responsible investment in the maritime sector. 30-September-2021

 

Pictet Asset Management and Newton Investment Management have sold down stakes worth approximately $15.6 million in London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited’s (TOAL). In 2021, shipping fund Tufton Oceanic Assets Limited’s (TOAL) stock price rise 33%. Pictet Asset Management reduced its stake from 9.23% to 4.64% and Newton Investment Management reduced its stake from 5.22% to 4.85%. London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited (TOAL) market capitalization is approximately $312 million. Pictet Asset Management was ranked third and Newton Investment Management was ranked sixth in the list of biggest stockholders of Tufton Oceanic Assets Limited (TOAL). Currently, Tufton Oceanic Assets Limited (TOAL) has a mixed fleet of 21 ships. 25-July-2021

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets Limited’s (TOAL) mother company Tufton Investment Management (TIM) decided to install a sliding rotor sail system on a kamsarmax bulk carrier MV TR Lady to cut emissions. Tufton Investment Management (TIM) signed a contract with Anemoi Marine Technologies to install a sliding rotor sail system on the deck of 2017 built kamsarmax bulk carrier 82K DWT MV TR Lady. Anemoi Marine Technologies will install rotor sails on a rail deployment system which can be moved to avoid disruption to unloading and loading in ports. Anemoi Marine Technologies’ rotor sails will produce important fuel and emission savings to MV TR Lady. Tufton Investment Management (TIM) is aiming for a 50% cut in emissions. Tufton Investment Management (TIM) is committed to reaching the IMO’s (International Maritime Organization) goal of at least a 50% reduction in greenhouse gas emissions by 2050. 27-May-2021

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets acquired a handysize bulk carrier for around $13 million and a chemical tanker for around $10 million. Tufton Oceanic Assets has been looking at acquiring a tanker. Tufton Oceanic Assets’ newly acquired bulk carrier has a two-year charter producing an annual yield of about 20%. Tufton Oceanic Assets is the subsidiary of Tufton Investment Management (TIM). Currently, Tufton Oceanic Assets controls a mixed fleet of 21 vessels. 24-May-2021

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets acquired a handysize bulk carrier for around $14 million. Tufton Oceanic Assets’ newly acquired handysize bulk carrier deal includes a long-term fixed-rate time charter. Tufton Oceanic Assets parent company Investment Management announced that the company has been looking for opportunities in all shipping sectors. Tufton Oceanic Assets has used up all the $250 million that the company had raised since its 2017 initial public offering (IPO). Currently, Tufton Oceanic Assets owns a mixed fleet of 22 vessels. 14-April-2021

 

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

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets announced that the company has been protected from the effects of the post-coronavirus recession by period coverage and diverse fleet. Tufton Oceanic Assets’ portfolio diversification policy and solid charter coverage have protected the company from the recent shipping market volatility. In February 2020, Tufton Oceanic Assets reported NAV (Net Asset Value) of $0.976 per share. Tufton Oceanic Assets reported the average charter length of the company’s shipping portfolio is three (3) years which minimizes spot market exposure. Tufton Oceanic Assets’ fleet has no void period between charters. Tufton Oceanic Assets observe the evolving shipping market circumstances. Tufton Oceanic Assets is assured that its policy will result in low volatility of cash flow and NAV (Net Asset Value). London Stock Exchange-listed shipping fund Tufton Oceanic Assets has $20 million of cash ready for future investment. In February 2020, Tufton Oceanic Assets sold vessels for the first time. 7-March-2020

 

London Stock Exchange-listed shipping fund Tufton Oceanic Assets targets $75 million from the latest capital raise. The latest capital raise arrives after the acquisition of 12 vessels. Tufton Oceanic Assets is endeavoring to take its fundraising to around $250 million with a third capital raise. In late 2017, Tufton Oceanic Assets raised $91 million from its IPO (Initial Public Offering). Tufton Oceanic Assets was listed on the specialized fund section of the London Stock Exchange. Tufton Oceanic Assets acquired a fleet of twelve (12) ships with the first two tranches of capital. Tufton Oceanic Assets has been bullish about further shipping investment opportunities. 19-February-2019

 

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