Tufton Oceanic Assets has exited crude tanker ownership due to the weak rate environment.
The London-listed shipping fund confirmed it had sold its last vessel in the sector for a return exceeding its expectations.
The company never names specific ships, but VesselsValue recorded the sale of the 160,000-dwt suezmax Tonos (built 2003) for $16m.
The ship has been renamed Cecilia A and is listed by Equasis under the ownership of Faithfull Shipping of Cyprus.
