UK shipowner Tufton Oceanic Assets looks likely to sell its vessels by the end of the decade — but a new Tufton-backed venture could take its place.

The London-listed fund, overseen by Tufton Investment Management, revealed on Wednesday that it has been considering its near-term future as shipping moves towards decarbonisation.

The company said it would start to “realise” its portfolio of vessel assets from 2028 towards the end of the decade.