Shipping in 2025 is very different to when Tufton Group’s London-listed fund bought a raft of ships a decade ago, founder and shareholder Ted Kalborg believes.
Fresh from taking part in a management buyout of the group’s Tufton Investment Management, the director told TradeWinds the value now lies in shares, not ships.
Kalborg said: “We’re at the point in the cycle where cash flows are important because secondhand prices are very close to depreciated replacement costs.
