Tufton Oceanic’s deals for ships are targeting yield amid uncertainty in vessel resale values, says portfolio manager Paulo Almeida.
Tufton, which has been linked to a spate of tanker and bulker buys, has invested some $650m in shipping assets on behalf of European pension funds, Almeida told attendees at the Capital Link Maritime Forum in New York.
Due to the mandate from pension funds on income, Tufton’s primary focus is the yield on ships, Almeida says.
