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SHPP Tufton Oceanic Assets Limited

98.50
0.00 (0.00%)
01 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tufton Oceanic Assets Limited LSE:SHPP London Ordinary Share GG00BSFVPB94 ORD NPV (GBX)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 98.50 98.00 99.00 99.00 98.50 98.50 31,210 15:28:44
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 50.56M 76.07M 253.3430 0.01 295.75k

Tufton Oceanic Assets Ltd. Attractive Fixed-Rate Charters with Strong Yields

03/10/2024 7:00am

RNS Regulatory News


RNS Number : 7360G
Tufton Oceanic Assets Ltd.
03 October 2024
 

03 October 2024

Tufton Oceanic Assets Limited ("SHIP" or the "Company")

Attractive fixed-rate charters with strong yields on two Chemical Tankers

The Company announces that it has agreed for its two Chemical Tankers, Orson and Golding, to commence up to three-year time charters to a leading operator of Chemical Tankers securing a minimum of c.$25m of EBITDA for SHIP. The time charters will have a fixed rate for two years yielding c.20% return and a floor/ceiling rate structure for the third year.

These charters provide strong visibility on operating cashflows and increase the portfolio charter length.

 

For further information, please contact:

Tufton Investment Management Limited ("Investment Manager" or "Tufton")

Andrew Hampson

Nicolas Tirogalas

                             +44 (0) 20 7518 6700

 

 

Singer Capital Markets

James Maxwell, Alex Bond, Jalini Kalaravy (Corporate Finance)

Alan Geeves, James Waterlow, Sam Greatrex (Sales)

                             +44 (0) 20 7496 3000

Hudnall Capital LLP

Andrew Cade

                             +44 (0) 20 7520 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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