Tufton Oceanic Assets Ltd. Portfolio and Market Update (2628E)
March 10 2022 - 2:00AM
UK Regulatory
TIDMSHIP
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)
Andrew Hampson +44 (0) 20 7518
Paulo Almeida 6700
Singer Capital Markets
James Maxwell, Alex Bond (Corporate Finance) +44 (0) 20 7496
Alan Geeves, James Waterlow, Sam Greatrex (Sales) 3000
Hudnall Capital LLP +44 (0) 20 7520
Andrew Cade 9085
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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END
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