Tufton Oceanic Assets has scored a significant profit on the sale of two 2008-built product tankers. The London-listed fund has offloaded the Hyundai Mipo-built 37,300 dwt MR1s Dinah and Pluto for a total of $41.75m. The Dinah was bought from Ridgebury Tankers in February 2020 for $13.25m, while the Pluto came from Offen Claus-Peter in December 2018 for $12.2m, meaning the asset play alone delivered over $16m. Tufton said the deal represented a 3.1% premium to the two vessels most recent holding net asset value (NAV) of $40.50m. “The disposals further confirm Tufton’s NAV methodology while also demonstrating its ability to divest portfolio vessels at or above NAV,” the company noted in a filing, adding that the transaction is a forward sale and is expected to close during the second quarter after the vessels complete their current charters. Following the sale, the Guernsey-incorporated company will have a fleet of 20 ships, mostly made up of product tankers and bulkers. In addition, Tufton said it had extended the employment of the 2015-built MR2 Emma Grace with its current charterer for up to three years starting this month. Shipping databases show the 50,500 dwt ship has been on a two-year charter with Sweden’s Stena Bulk since April 2022. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsUnited Kingdom