Tufton Oceanic Assets Ltd - Guernsey, UK-based investment company focused on second-hand commercial vessels - Sells containership Vicuna for USD18.0 million, having bought it in October 2019 for USD8.8 million. The realised net internal rate of return will be 46%, and realised net multiple on invested capital will be 2.3 times, Tufton says. This is the company's tenth divestment.
"Whilst the company aims to hold its investments over the longer term, the investment manager will seek to realise investments where additional value can be generated for shareholders," Tufton says. Tufton says it is looking at a range of "attractive" opportunities across its target sectors in which to deploy the proceeds of the sale, including chemical and product tankers, as well as bulkers.
Current stock price: USD1.29, down 1.2% on Monday
12-month change: up 31%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Tufton Oceanic. (SHIP)