Tufton Sells Its Final Containership

The Board of Tufton Oceanic Assets Limited announced the company has agreed to sell its last containership, the Riposte, for $13 million. It is being sold at approximately depreciated replacement cost. The divestment will take the company’s fleet to 22 vessels.

The realized net IRR on the Riposte exceeds 12%. The aggregate realized net IRR on the company’s containerships over the past five years is c.27%.

This divestment together with the other divestments and investments over the previous two years demonstrate our commitments to capital re-allocation and ESG.