The ship will be purchased from an undisclosed seller for USD 19.9 million.
As informed, the vessel is time chartered to a major tanker operator for two years at a fixed floor rate plus a profit-sharing mechanism.
The new fleet addition will take Tufton Oceanic’s fleet to sixteen vessels.
Tufton Oceanic Assets Limited invests in secondhand sea-going vessels with the objective of delivering strong cash flow and capital gains to investors.
Earlier this month, Tufton Oceanic Assets Limited’s investment manager, Tufton Oceanic Limited, joined the Getting to Zero Coalition, a new alliance formed to lead the push for international shipping’s decarbonization.
Founded by the Global Maritime Forum, the Friends of Ocean Action and the World Economic Forum, the Getting to Zero Coalition is closely aligned with the UN International Maritime Organization’s Initial GHG Strategy which prescribes that international shipping must reduce its total annual GHG emissions by at least 50% of 2008 levels by 2050.