UK investment manager Tufton has sponsored the Oslo IPO of a newcomer on the chemical tanker scene.

Stainless Tankers (STST) is acquiring a fleet of seven 20,000-dwt stainless steel carriers and was due to list on the over-the-counter market on Wednesday.

The vessels have not been identified, but they will be managed by Tufton.

The London group is listed with seven chemical tankers of between 19,000 dwt and 21,000 dwt, built from 2005 to 2009.