Tufton exits the container sector with final sale

Looking down on a container ship passing beneath two semi trucks /articulated lorries on a suspension bridge.

Tufton Oceanic Assets Limited has sold its last container vessel for $13 million, thereby exiting the container shipping sector. 

According to Tufton, the 2,546 TEU, Sealand Guayaquil, which was constructed in 2009, is being sold at around depreciated replacement cost. Tufton will now have a fleet of 22 vessels.

Tufton said in a statement: “This divestment together with the other divestments and investments over the previous two years demonstrate our commitments to capital reallocation and Environmental, social, and governance (ESG).” 

“In recent months, the chemical tanker market has further improved materially, converging towards the product tanker market as it tends to do. This is expected to further increase the yields from our two chemical tankers with partial market exposure as well as, in the medium term, their asset values.”

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