UK owner Tufton Oceanic Assets has expanded its fleet again with a move for two product tankers.

Tufton said the unnamed vessels are costing $23m and bring the fleet to 18 ships.

Both tankers have fixed-rate time charters for three to five years to a major commodity trading and logistics company.

The yield during the charters exceeds the targets expressed in the company's prospectus from 2018, Tufton added.