StockMarketWire.com - Ship supplier Tufton Oceanic Assets said the value of its assets had fallen since, though added portfolio diversification largely insulated it from the coronavirus outbreak.

The company's net asset value per share at 29 February had fallen to $0.976, down from $0.992 at 31 December.

'Year to date, fair value losses in containerships and bulkers have been largely offset by fair value gains in tankers,' it said.

'The fair value decrease in the portfolio of $0.020 per share was more than offset by operating profit of $0.021 per share over the period.'

The company's dividend for the fourth quarter of $0.0175 per share was paid out on 21 February, resulting in a small estimated decrease in NAV.

'The investment manager continues to monitor the evolving situation but is very confident that its strategy will continue to result in low volatility of cash flow and NAV,' Tufton said.

The company said it currently had around $20m of investible cash.


At 9:25am: [LON:SHIP] Tufton Oceanic Assets Limited Ord Npv share price was 0p at 1.06p



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