UK shipping fund Tufton Oceanic Assets is moving quickly to raise more money to capitalise on attractive ship purchase deals.
The London-listed company continues to identify a "pipeline" of vessels that can grow its fleet.
In October, the shipowner won approval from shareholders to issue up to 10% of its stock, now worth close to $40m.
Tufton has brought in joint brokers Hudnall Capital and Singer Capital Markets to run a bookbuilding process for a tap issue of new shares.
