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Tufton Oceanic Assets grows fleet to 18 with addition of product tanker pair

Tufton Oceanic Assets grows fleet to 18 with addition of product tanker pair
Tufton Oceanic Assets has acquired two product tankers for a total of $23m, taking its fleet to eighteen vessels.

VesselsValue identifies the pair as 2008-built handysizes Ridgebury Colette B and Ridgebury Elvia B, sold by US tanker owner Ridgebury Tankers.

Tufton Oceanic says both vessels have fixed rate time charters for three to five years to a major commodity trading and logistics company.

At the same time as the acquisition, Tufton Oceanic has completed a debt financing of $24m, which it expects to repay within three years.

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