UK shipping fund Tufton Oceanic Assets saw its net asset value (NAV) return fall into negative territory in the final three months of 2022.
The figure to 31 December was -3.8% as values fell overall, but there was growth of 7.7% for 2022 as a whole.
The London-listed company said the return in the fourth quarter would have been positive but for a substantial increase in negative values for older product tanker charters.
