Tufton Oceanic Assets reports revenue decline amid vessel maintenance
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices slide over 2% on Iraq-Kurdish supply deal; Iran fears persist Up 31%+, this AI-picked energy infrastructure play is a Middle East conflict win Wall Street extends this week’s rebound a day ahead of Fed interest rate decision Oil inventories seen falling to record lows in April amid Hormuz disruptions 55% Off - FLASH SALE (South Africa Philippines Nigeria) 55% Off - FLASH SALE Tufton Oceanic Assets reports revenue decline amid vessel maintenance By Editor Maria Ponnezhath Stock Markets Editor Maria Ponnezhath Published 03/18/2026, 03:22 AM Tufton Oceanic Assets reports revenue decline amid vessel maintenance 0 SHIP 0.00% Investing.com -- Tufton Oceanic Assets , a UK shipping asset investor, reported lower revenue for the first half of its fiscal year, primarily driven by increased vessel dockings during the period. The company recorded revenue of $47 million for the six-month period, while operating expenses totaled $26.10 million. EBIT came in at $20.90 million. Despite the revenue decline, net income for the period rose to $33 million, supported by higher charter-free values and improved operating performance. The company completed scheduled dockings on nine vessels during the half-year period and disposed of one vessel above its net asset value. Revenue and operating profit were lower due to increased off-hire days as the vessels underwent the scheduled maintenance. Net income increased as charter-free values of tankers and bulkers rose in a strengthening shipping market. The extension of charters on several vessels at higher rates improved forward dividend cover and cash flow visibility. As of March 10, none of the company’s vessels were trading in the Persian Gulf or the Gulf of Oman. Looking ahead, Tufton Oceanic Assets forecasts dividend cover of 1.6x through mid-2027. The company said it remains cautiously optimistic on near- and mid-term shipping markets and expects to benefit from higher c...
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