Tufton-backed Stainless Tankers will have a new chief executive in place from 30 June.

Alex Karakassis is stepping down, to be replaced by Andrew Hampson, chief executive of Tufton Investment Management, which manages UK-listed shipowner Tufton Oceanic Assets.

Stainless Tankers was formed in 2023 through the purchase of seven vessels from Tufton funds, and then carried out an IPO in Oslo, before buying two more ships.