UK shipowner Tufton Oceanic Assets has continued to stock up on bulk carriers after a series of container ships sales this year.
The London-listed fund said it had agreed to acquire an unnamed handysize for $25.5m.
The vessel comes with a fixed-rate time charter for nine to 12 months, producing a net yield of 25%.
The price is slightly above the depreciated replacement cost (DRC), or newbuilding parity, but the strong cash flows from its charter will significantly de-risk the investment, the company said.
